PM tells private sector to get rid of protectionist mindset

Prime Minister Ranil Wickremesinghe asserted that the private sector and pseudo nationalists must move away from crony capitalism and the resultant protectionist mindset in order to take the country down the road of development.

BoI negotiating US $ 4.5bn worth of investments: official

Sri Lanka’s state-run apex investment promotion agency the Board of Investment (BoI) is currently negotiating four foreign...

Major foreign debt restructuring move after elections

Interest rates on foreign borrowings will be brought down significantly via debt restructuring following the upcoming election, Finance Minister Ravi Karunanayake said.

Harsha urges Sri Lanka should focus on export-driven economy

The country’s economy must be driven on exports instead of roads, and Sri Lanka should aim at achieving exports equivalent to 100 percent of the Gross Domestic Product in the long term, Policy Planning and Economic Affairs Deputy Minister Dr. Harsha de Silva said.

Indian firm to build Sri Lanka’s tallest building

Shreepati Edifice (Pvt.) Ltd, a unit of leading Indian real estate developer Shreepati group, has signed an agreement with Sri Lanka’s Board of Investment (BoI) to invest US $ 330 million to construct a mixed development project named ‘1996 Iconic Tower’.  

Govt. ties up with Google to boost internet access

The Sri Lankan government yesterday signed a memorandum of understanding (MoU) with tech giant Google Inc. to make Sri Lanka the first country in the world to have universal Wi-Fi Internet access through solar powered balloons of the Google Loon project...

President takes on corrupt accounting and audit practices

President Maithripala Sirisena criticized the existing corrupt practices in the accounting and auditing professions...

IFAC President in town

?President of the International Federation of Accountants (IFAC), the world’s apex body of the accounting profession, Olivia Kirtley (second from the left) was accorded a warm welcome to Sri Lanka by CA Sri Lanka...

Beauty advisors

?Japan’s telecom giant Softbank’s humanoid robot Pepper poses with cosmetic sales clerks of the Loft department store in Tokyo. Loft is hiring Pepper robots as beauty advisors at the cosmetic counter in its Shibuya and Yokohama shops from July 25 to August 23.

UNP-led front unveils election manifesto based on 5 pillars

?The United National Party, which is heading the United National Front for Good Governance coalition in the upcoming polls, outlined its 5-year manifesto based on 5 pillars, which included economic, educational, social and infrastructure development as well as eliminating corruption.

New economic policy for progress: Harsha

The United National Front for Good Governance (UNFGG), if elected, will introduce sweeping changes to the county’s economy for the betterment of the ordinary people, Policy Planning Deputy Minister Dr. Harsha De Silva said yesterday. 

Top Hyatt Hotels officials in town

?Top officials from Hyatt Hotels were in Sri Lanka at the invitation of Finance Minister Ravi Karunanayake. The officials were updated about the current status of the Hyatt Regency Hotel in Colpetty. 

Growth may dip below 6% this year with new GDP base: Central Bank

The rebased gross domestic product (GDP) of the country may not exceed the 6 percent growth seen in the first quarter of 2015 for the rest of the year, according to a high-ranking official of the Central Bank...

Chinese influx

Two Chinese tourists in Negombo are seen enjoying a king coconut to quench their thirst.

Policy stability key to attract investors: British Envoy

The results of the upcoming election would not pose a threat to the natural growth of the Sri Lankan economy;...

eZ Cash launches inter-operable mobile payment system for inward remittances

Mobile money service eZ Cash launched the world’s first inter-operable mobile payment system to facilitate foreign remittances to reach customers directly on their mobile phone.

President, PM visit Central Bank

?The Communications Department of the Central Bank of Sri Lanka yesterday released pictures of President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe visiting the Central Bank premises on July 9.

Rebasing of GDP figures, a political gimmick: Cabraal

A newly established social platform, the ‘Vidvath Jana Pawura’;...

Time for an e-waste policy

The picture aptly demonstrates the need for an e-waste policy in Sri Lanka. Electronic waste is a relatively new addition to the types of hazardous wastes that threaten human health and environment.

Hambantota Port phase II commissions with water filling

?The filling of water into Phase II of the Hambantota Port was initiated on Saturday by Ports, Shipping and Aviation Minister Arjuna Ranatunga at a simple ceremony which lacked the pomp and majesty of similar occasions in the past.

Tough times

An Indian vegetable vendor floats sacks of produce along a..

Plantation crisis

?The ‘go slow’ campaign started by workers of the 23 Regional Plantation Companies (RPCs) continued for the fourth consecutive day yesterday.

Dialog Axiata to invest US $ 120mn this year

Dialog Axiata PLC, one of Sri Lanka’s leading telecommunication service providers, will be making investments of over US $ 120 million in 2015, despite the political uncertainty that has dogged the country throughout the year.

President opens Dialog’s new corporate HQ

?Sri Lanka’s premier telecom service provider, Dialog Axiata’s new Corporate Headquarters in Colombo 2, was declared open by President Maithripala Sirisena yesterday, amongst a distinguished gathering. 

All eyes on ECB after Greek ‘No’ vote

?AFP: All eyes were on the European Central Bank (ECB) yesterday following the resounding ‘No’ in the Greek referendum, with the ECB seen as the only institution capable of calming market panic and preventing the Greek economy from collapsing.

Greek referendum

?A young girl holds a ballot during the Greek referendum in Athens. Greek voters headed to the polls yesterday to vote in a historic, tightly fought referendum on whether to accept worsening austerity in exchange for more bailout funds, in a gamble that could see it crash out of the euro   

June inflation slows to 0.1% over lower energy prices

Sri Lanka’s headline inflation for the 12-months to June slowed ...

Greece in shock as banks shut after creditor talks break down

?AFP: Greeks woke up to shuttered banks, closed cash machines and a climate of rumours and conspiracy theories yesterday as a breakdown in talks between Athens and its creditors plunged the country deep into crisis.

Call for long-term fix for tea industry

A tea industry stakeholder called on the government to implement a sensible,...

Pvt. sector can do much more for reconciliation: Northern Governor

The private sector can take great steps towards reconciliation and empowerment in the past conflict stricken areas, according to Northern Province Governor H M G S Palihakkara, who spoke at the 176tth Annual General Meeting of the Ceylon Chamber of Commerce yesterday.