Mangala exposes economy’s great peril post MS-MR deal

Views - 4261 Monday, 5 November 2018 01:08

Mangala Samara-weera issuing a statement as the Minister of Finance and Mass Media yesterday exposed the peril suffered by the economy in just a week after President Maithripala Sirisena appointed his former nemesis Mahinda Rajapaksa as the Prime Min

Date juggling as pressure mounts on Speaker to reconvene P’ment

Views - 1001 Saturday, 3 November 2018 00:06

With President Sirisena remaining non-committal on reconvening Parliament before 16 November despite assurances given, the constitutional crisis, now in its eighth day, remains in deadlock in spite of repeated requests to immediately call the House t

Sweeping tax concessions

Views - 3714 Friday, 2 November 2018 00:00

The Government yesterday announced sweeping tax concessions and slashed prices on fuel, saying it was confident of meeting the budget deficit target of 4.9% for 2018 by sharply reducing expenditure by limiting the number of ministries. The Financ

MR backs populist policies

Views - 2015 Thursday, 1 November 2018 01:32

In a predictable policy U-turn, former President Mahinda Rajapaksa, who was appointed as Finance Minister by President Maithripala Sirisena yesterday, backed promoting populist and protectionist economic policies that would give subsidies to farmers,

Thousands gather to protect democracy

Views - 3701 Wednesday, 31 October 2018 00:00

Thousands of protestors yesterday thronged the Liberty Roundabout in an unexpectedly massive show of support for mounting calls on the Speaker of Parliament to reconvene the House and end the constitutional deadlock, even as Ranil Wickremesinghe, who

RW hits back

Views - 1524 Tuesday, 30 October 2018 01:42

By Chathuri Dissanayake The United National Front Leader Ranil Wickremesinghe yesterday refuted all allegations levelled against him by President Maithripala Sirisena in his address to the nation, likening them to childish tales. Calling the move to

President justifies Ranil’s exit, MR’s entry

Views - 1246 Monday, 29 October 2018 01:34

President Maithripala Sirisena yesterday justified his actions as being in the best interests of the country, arguing that the removal of Ranil Wickremesinghe was done constitutionally and calling for all parliamentarians to support him.     Addre

RW-MR face-off on premiership

Views - 2152 Saturday, 27 October 2018 01:44

By Chathuri Dissanayake A defiant Ranil Wickremesinghe held steadfast to his position as Prime Minister yesterday, following President Maithripala Sirisena’s arbitrary move to swear in Mahinda Rajapaksa as Premier, throwing the country into a cons

Collective agreement on tea deadlocked

Views - 1769 Friday, 26 October 2018 00:02

A bearish plantation industry yesterday said they were heading towards a perfect storm, with a dip in production, low prices at auctions and negotiations over a new collective agreement with workers hitting a stalemate, and expressed concerns that th

Budget deficit 5.3% says CB Chief

Views - 812 Thursday, 25 October 2018 00:00

By Uditha Jayasinghe Persisting with structural reforms remains crucial, believes Central Bank Governor Dr. Indrajit Coomaraswamy, who this week dismissed monetary and fiscal slippage with macroeconomic fundamentals remaining sound despite a budget

SL tops Lonely Planet 2019 list

Views - 1225 Wednesday, 24 October 2018 00:00

Popular travel guide Lonely Planet yesterday officially named Sri Lanka the number one country to travel to in 2019

Govt. to call bids to develop M2 block in Mannar Basin

Views - 1097 Tuesday, 23 October 2018 00:00

In an attempt to spur investment, the Government will call for international tenders within the next two weeks for a 2,924 square kilometre offshore M2 Block in the Mannar Basin to develop the gas discoveries and potentially produce electricity by 20

IMF expects strong Budget 2019

Views - 1319 Monday, 22 October 2018 00:36

The International Monetary Fund (IMF) expects a strong 2019 Budget given Sri Lanka’s medium-term challenges amidst aspirations to accelerate socio-economic growth.

Govt. to revive Paranthan site as industrial zone

Views - 578 Saturday, 20 October 2018 00:10

The land once occupied by the Paranthan Chemicals Company (PCC) has been earmarked for a large industry development site, which will also include Sri Lanka’s first heavy chemical industry zone, th

Govt. steadfast on policies: Mangala

Views - 990 Friday, 19 October 2018 00:00

Despite being buffeted by currency depreciation and higher fuel prices, Finance Minister Mangala Samaraweera yesterday fiercely backed the Government’s liberalisation policies and insisted that all efforts were being made to keep the economy as eve

Economic challenges an opportunity for change: PM

Views - 1175 Thursday, 18 October 2018 00:49

Says SL not unique in currency depreciation but can use present situation to transform into export-oriented economy Steadfast dedication to improving economic competitiveness, liberalisation Retail sector development essential to foster growt

Budget 2018 mired on implementation

Views - 1352 Wednesday, 17 October 2018 00:00

Budget 2018 has failed to deliver on transparency and implementation with only 8% of 38 major proposals worth Rs. 149 billion on target, with 33% categorised as either broken, neglected or undisclosed, think tank Verité Research said yesterday.

Govt. should guard against policy backsliding: IPS

Views - 1030 Tuesday, 16 October 2018 00:26

Sri Lanka’s Government should fight against policy backsliding and remain focused on export and investment driven growth strategies as the already beleaguered economy heads towards deepening political and economic challenges next year, hampered by

Nimal returns to stock market

Views - 5310 Monday, 15 October 2018 01:11

High net worth investor Nimal Perera is back in the Colombo stock market having invested over Rs. 2 billion in recent months, accumulating mostly blue chips that are trading at a bargain.

Nalin Perera sworn in as new CJ

Views - 1495 Saturday, 13 October 2018 00:10

Senior Supreme Court Justice Nalin Perera took oaths as the new Chief Justice before President Maithripala Sirisena at the President’s Official Residence yesterday. He was nomin

Longer wait for digital ID

Views - 950 Friday, 12 October 2018 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent The lacunae in laws governing digital verticals and databases in Sri Lanka will result in a further delay in issuing of digital identity cards. Minister of Telecommunication, Digital Infrastructure a

Dhammika shows way out of middle income trap

Views - 4260 Thursday, 11 October 2018 00:00

By Charumini de Silva and Ruwandi Gamage Business tycoon Vallibel One Plc Chairman Dhammika Perera yesterday said quality education to a wider audience was the only solution to escape the middle-income trap, a well-kept secret that many developed eco

Mangala adamant economy remains buoyant

Views - 942 Wednesday, 10 October 2018 00:00

By Charumini de Silva Rebuking Opposition claims, the United National Party (UNP) yesterday said the economy was not facing a crisis but the Government was enacting sustainable policies as opposed to dangerously populist measures. “We assure that

Ranil kicks off trading at London Stock Exchange

Views - 3438 Tuesday, 9 October 2018 00:11

By Nisthar Cassim in London Giving a fresh impetus to longstanding and growing bilateral ties with the United Kingdom, Prime Minister Ranil Wickremesinghe yesterday inaugurated the trading of the London Stock Exchange (LSE), one of the world’s olde

Fresh push to woo UK investors to SL

Views - 1585 Monday, 8 October 2018 00:00

Capital market stakeholders will make a fresh push this week to woo new investments from Europe into listed Sri Lankan companies via two forums in London and Edinburgh.

Not against free trade but SL must have proper FTAs: GMOA

Views - 536 Saturday, 6 October 2018 00:10

The Government Medical Officers Association (GMOA) this week called on the Government to develop a properly-formulated International Trade Agreement Policy before entering into Free Trade Agreements (FT

Women speak up ahead of Budget 2019

Views - 3025 Friday, 5 October 2018 00:00

By Charumini de Silva In a first-of-its-kind forum, 26 top female professionals yesterday spoke out on a multitude of issues confronting them and the economy and shared their ideas and recommendations for the Government to considerahead of next month

Fitch says new import rules hurt consumer durable retailers

Views - 933 Thursday, 4 October 2018 01:27

Fitch Ratings yesterday said Sri Lanka-based consumer durable retailers’ operating cash flow is likely to weaken following new Government regulations that impose a 100% cash margin on the import of most types of consumer durables. It said the credi

CB Chief confident despite currency crunch

Views - 1675 Wednesday, 3 October 2018 00:00

By Nisthar Cassim With a raft of measures taken and additional inflows in the offing, the Central Bank yesterday reiterated its reassurance on the rupee and the economy whilst claiming that the excessive public and political furore over the currency

UDA invests Rs. 25 b

Views - 1503 Tuesday, 2 October 2018 00:18

Megapolis and Western Development Minister Patali Champika Ranawaka yesterday revealed that the Urban Development Authority (UDA) has invested over Rs. 25 billion this year, and rolled out a program envisaging a Rs. 200 billion investment to provide

Today's Columnists

Discipline and the devil’s disciples

Monday, 18 February 2019

That coach who repeatedly slapped a boy under his care has generated a storm of controversy on social media. On one side are aunties, bleeding hearts, civil rights champions et al who are outraged or at the very least shocked or surprised. On the oth

SL growth profile: Arrest moving down the staircase immediately to avoid hard landing on the floor

Monday, 18 February 2019

Strong message in the Sri Lanka Development Update 2019 Sri Lanka Development Update for 2019 was released by the World Bank last week. This document contains a review by the bank’s residential staff of the present state of the country’s economy

Prudential banking and saga of MTD Walkers

Monday, 18 February 2019

The matters referred to in the article under this title published in the Daily FT (15 February) are spotlighted in more detail under this scrutiny. While the general attention of the public remains more focused on recently arrested underworld kingpin

Minister Wijeyadasa Rajapakshe’s empty rant

Monday, 18 February 2019

Minister Wijeyadasa Rajapakshe (WR) has joined President Sirisena’s reckless verbal onslaught on the Constitutional Council (CC) that was set up by the 19th Amendment (Daily Mirror 15 February). I use “verbal onslaught” intentionally since, as

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