New laws to revamp RPCs: PM

Views - 890 Thursday, 10 August 2017 00:21

Claims RPCs have benefited the most in past 150 years Asserts country cannot pay the price for bad performance of RPCs New management qualifications to be introduced to RPC board members By Charumini

Longer wait for Ravi K’s fate

Views - 845 Wednesday, 9 August 2017 00:00

  Speaker to give decision on no-confidence motion on Thursday   Tells House consulting AG is necessary as presidential inquiry is ongoing  PM supports decision, says he got to know of no

1,000 MW in new power plants up for grabs

Views - 1699 Tuesday, 8 August 2017 00:00

  By Chathuri Dissanayake The Power and Energy Ministry has begun the process of procuring power up to 1,000 MW to meet the demands of the Long-Term Generation Expansion Plan (LTGEP).  Under pressure from the Public

Supreme Court snubs new IR Bill

Views - 1299 Saturday, 5 August 2017 00:08

Five clauses in new Act inconsistent with Constitution – SC  Treasury official says will revise Bill to be consistent with Constitution    By Ashwin Hemmathagama – Our Lobby

Cautious CB keeps rates intact

Views - 888 Friday, 4 August 2017 00:00

  2017 growth to be a challenging 4.5% as drought bites Private sector credit moderates to 18.6% in June, Rs. 80.3 b Inflation to end year at 5%, says Budget must maintain fiscal discipline   Predic

Ravi K denies all in apartment deal

Views - 1528 Thursday, 3 August 2017 00:02

Submits that he did not know of Perpetual link to apartment, lease or purchase  Contends apartment is only 2,000 sq. ft. not 4,000, family reimbursed Walter and Row rental fee AG submits SMS messages from Aloys

Exports enjoy May momentum

Views - 707 Wednesday, 2 August 2017 00:00

  Exports grow 7.8% keeping three-month growth streak  Trade deficit expands to $ 886 m on higher imports  Fuel imports grow 63%, gold 102%, rice 20% Base metal&nbs

Port deal is credit positive, says Moody’s

Views - 934 Tuesday, 1 August 2017 00:32

External debt maturities in 2019-22 total $13.8 b Despite port agreement bolstering reserves, challenges expected to remain  Expects CB to close in on $7.4b reserve target by December  Govt. should use oppo

Hurrah Hambantota!

Views - 985 Monday, 31 July 2017 00:20

Govt. finally signs landmark PPP deal on Hambantota Port China Merchant Port pays $ 1.12 b for 70% stake in port in JV with SLPA on 99-year lease $ 973.658 m to buy equity stakes and balance $ 146.342 m for additional investm

H’tota Port deal signing today: PM

Views - 929 Saturday, 29 July 2017 00:00

By Uditha Jayasinghe  An agreement on the Mattala airport would be inked before December assured Prime Minister Ranil Wickremesinghe yesterday as the Government readies to sign the port deal and open doors to more investment. 

JKH kicks off FY18 on a strong note

Views - 1132 Friday, 28 July 2017 00:00

  First quarter bottom line up 19% to Rs. 2.37 b Group pre-tax profit tops Rs. 4 b; Revenue up 18% to Rs. 26.8 b   Premier blue chip John Keells Holdings (JKH) has begun the new 2017/18 financial y

Harsha tells private sector to put up or shut up about bribery

Views - 2868 Thursday, 27 July 2017 02:06

Economic Affairs Deputy Minister Dr. Harsha de Silva   By Charumini de Silva Economic Development Deputy Minister Dr. Harsha De Silva yesterday hushed a packed audience at the Sri Lanka Economic Summit 2017, ca

Hambantota deal before P’ment, signing on Saturday

Views - 902 Wednesday, 26 July 2017 00:00

  MPs to debate Cabinet-approved new PPP on Friday but no vote Ports and Shipping Minister insists the agreement a win-win for both parties Total value of $ 973m by CMPort to be paid within 9 month

Cabinet to decide today fate of Rs. 193b costing, Rs. 47b loss making Hambantota Port

Views - 1235 Tuesday, 25 July 2017 01:07

  Cabinet is scheduled to decide on the future of the Hambantota Port, built by former President Mahinda Rajapaksa through a loan costing Rs. 193 billion, which has since accumulated a loss of Rs. 47 billion. Following many

Re-pace reforms: IMF

Views - 931 Monday, 24 July 2017 01:31

IMF’s Jaewoo Lee Govt. ‘over performing’ on fiscal consolidation targets under EFF program May need to adjust timelines of proposed structural reforms including for SOEs Says delay in restr

Stepping up for tax

Views - 1292 Saturday, 22 July 2017 00:45

Finance Minister Managala Samaraweera and State Finance Minister Eran Wickramaratne – Pic by Ruwan Walpola   By Uditha Jayasinghe  Brushing up policy priorities, Finance Minister Managala Samaraweera and State Fin

Cherio coal!

Views - 1217 Friday, 21 July 2017 00:00

  Public Utilities Commission puts an end to coal  Approves long-term generation plan sans coal plants Coal not favourable when costs for externalities are taken into account – PUCSL

Fresh round of liberalisation in Budget: PM

Views - 852 Thursday, 20 July 2017 00:23

Three-year economic policy to be released ahead of next Budget New Foreign Exchange Act to boost exports, offers to have talks with biz community  Calls on private sector to be prepared, seek capital and i

IMF approves delayed third tranche of $ 167.2 m

Views - 818 Wednesday, 19 July 2017 00:00

  Completes second review under three-year EFF  Backs further tightening of policy rates, energy pricing reforms urgent  Says new Inland Revenue Act will support fiscal consolidation, make tax system mo

Top global fund manager upbeat on Sri Lanka’s future prospects

Views - 1354 Tuesday, 18 July 2017 00:00

Oliver Bell, T. Rowe Price Vice President and Lead Portfolio Manager, Africa, Middle East and Frontier Markets – Pic by Lasantha Kumara   By Nisthar Cassim T. Rowe Price, a global investment management organis

Sri Lanka, B’desh agree to finalise FTA

Views - 778 Monday, 17 July 2017 01:11

MoU on economic partnership inked during President Sirisena’s successful visit to Dhaka 14 agreements signed to bolster greater bilateral cooperation  President Maithripala Sirisena with Ba

UN slams Govt. on PTA

Views - 985 Saturday, 15 July 2017 00:00

  By Chathuri Dissanayake  Giving a damning report on Sri Lanka’s failure to take adequate action against human rights violations during the conflict and amend the Prevention of Terrorism Act (PTA), United Nations Special Rapport

Bank’s priority customers’ data compromised?

Views - 1499 Friday, 14 July 2017 00:11

In an apparent serious breach of confidentiality, a leading private sector bank has mistakenly alleged to have compromised data of its priority customers. Customers told the Daily FT that on Wednesday they received an email from the bank li

PM, Rajitha resolve GMOA crisis with Dr. Padeniya

Views - 1025 Thursday, 13 July 2017 00:08

The debilitating trade union action by the Government Medical Officers’ Association (GMOA) is tipped to end following a breakthrough resolution of outstanding issues at a high level meeting last evening chaired by Prime Minister Ranil Wickre

Mangala offers reassurance over new Inland Revenue Act

Views - 720 Wednesday, 12 July 2017 02:15

Says fresh legislation will broad base and simplify the tax system for an investor-friendly atmosphere  Minister of Finance and Mass Media Mangala Samaraweera during the discussion  Min

Net foreign inflows hit new record

Views - 1364 Tuesday, 11 July 2017 00:21

  The year to date net foreign inflows to the Colombo stock market for 2017 yesterday reached the second all-time high, a development which Daily FT on 12 June predicted was likely. Yesterday foreign investors bought Rs. 10

Exports up in April

Views - 798 Monday, 10 July 2017 00:55

Low base in 2016 pushes up earnings 11.9%, imports increase by 9.8% Cumulative trade deficit rise in first four months to $ 3.3 b  Industrial exports grow 8.6%, garments 3%, tea 17.1%, spices 78.4%, seafood 59.7%&nb

Govt. sends team on rice quest

Views - 921 Saturday, 8 July 2017 00:00

The Government has picked three countries to supply 200,000 MT of rice immediately to meet the shortfall in its domestic market, the Industry and Commerce Ministry said in a statement yesterday.  A four-member team of officials left to Paki

ADB assistance doubles to $1b

Views - 893 Friday, 7 July 2017 00:00

 Finance Minister Mangala Samaraweera and ADB Country Director Sri Widowati during discussions at the ministry yesterday    Current $ 400-$ 500 million to get major boost  Presently 24

PM plots growth trajectory

Views - 896 Thursday, 6 July 2017 00:00

Prime Minister Ranil Wickremesinghe and Central Bank Governor Dr. Indrajit Coomaraswamy share a light moment during the opening of the new IBSL building  – Pic by Lasantha Kumara         &nb

Today's Columnists

A SME policy finally in Sri Lanka

Wednesday, 18 October 2017

The other day there was a communiqué that Sri Lanka must have a SME policy as per the direction from the leadership of the Yahapalanaya Government. It sure gave breath to the economy that is currently nose diving with a growth at 4.7% and all banks

How can Sri Lanka gain from Asia’s ‘noodle bowl’ of regional infrastructure?

Wednesday, 18 October 2017

China’s Belt and Road Initiative (BRI) – a web of intercontinental road, rail and port links – is a hot topic in Sri Lanka

What is more important? Fixing the Constitution or fixing the economy?

Tuesday, 17 October 2017

The Steering Committee of the Constitutional Assembly has produced an Interim Report on six key issues after 73 sessions between April 2016 and September 2017, without basic consensus among the key partners of political party representatives in the C

Top 10 tourist source markets and marketing of Sri Lanka tourism niches

Tuesday, 17 October 2017

The tourism sector is a significant that contribute to the economy of the country. Sri Lanka received over two million arrivals in 2016. This was 14% increase compared to last year 2015. In the case of foreign exchange earnings, Sri Lanka’s earning

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