Author Archive for Business

Sri Lanka’s luxury condos already in trouble: developers

Saturday, May 27th, 2017

Courtesy The Island May 27, 2017, 7:19 pm Sri Lanka’s high-end luxury apartment developments may already be in trouble, according to at least two developers responding the Central Bank’s concern over a property bubble that could potentially undermine the entire economy. The private Iconic Developments, an apartment builder, said it was aware of at least […]

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THE RAJPAL ABEYNAYAKE COLUMN: DESCRIBING THE GOVT? CALL A SPADE A SPADE

Tuesday, May 16th, 2017

The Rajpal Abeynayake Column Deplorables? Ghouls? Now, that comes close. Ingrates? Absolutely fits the bill, but is not a complete description. Vermin? Very close. These are the words that describe the current, dispensation, Prime Minister, President and all. Why should we say all this? Because words are important and they have to be used at […]

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Public Utilities Commission of Sri Lanka PUCSL CALLS PUBLIC VIEWS ON CEB’S LEAST COST LONG TERM GENERATION EXPANSION PLAN

Tuesday, May 16th, 2017

Press Release Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, recently opened the path for public to comment on the Least Cost Long Term Generation Expansion Plan (LCLTGEP) 2018-2037, prepared by State Utility, Ceylon Electricity Board (CEB). The LCLTGEP, has been compiled based on the results of the latest electricity expansion planning […]

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WCrypt ransomware wreaks havoc across the globe Over 57000 users ‘stranded’ across 74 countries unable to access their information.

Sunday, May 14th, 2017

Press Release of Computer Society of Sri Lanka (CSSL – www.cssl.lk) Colombo – 14th May 2017 at 1.00am The Computer Society of Sri Lanka (CSSL), the apex body for IT professionals in Sri Lanka wishes to alert the public about the newest ransomware to hit the cyberspace, WCrypt, which continues to infect computers across the globe. […]

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ETCA will destroy Sri Lanka’s IT sector– Lasantha Wickramasinghe

Tuesday, May 9th, 2017

By Umesh Moramudali and Rathindra Kuruwita Courtesy Ceylon Today The proposed Economic and Technology Corporation Agreement (ETCA) with India has caused many a controversy, and in this interview with Ceylon Today Secretary of the Society of Information Technology Professionals, Lasantha Wickramasinghe, explains how ETCA will affect the country’s economy, and the reasons for opposing it. Following are […]

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What almost derailed the Stock Market?Corruption or non-performance

Monday, May 8th, 2017

By Shivanthi Ranasinghe Courtesy Ceylon Today The Stock Market boomed into life, with the successful conclusion of the war, in May 2009. After stagnating for years, the rising activities were the barometric readings of the fast reviving economy. Yet, despite the massive development projects and investments taking place, the market was slowing by 2011. Investor confidence […]

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Sri Lanka only leasing out oil tanks to India: Ranil Wickremesinghe

Saturday, May 6th, 2017

Courtesy DNA Sri Lanka will only lease out oil tanks to India under the proposed deal to jointly operate a strategic oil facility in the eastern port district of Trincomalee, Prime Minister Ranil Wickremesinghe has said. Addressing a gathering in the central town of Welimada yesterday, the Prime Minister said the joint working group of […]

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SriLankan sell off fails, seeks new partner

Saturday, May 6th, 2017

 Courtesy The Daily Mirror A US equity firm that bid to buy a stake in Sri Lanka’s loss-making national airline has pulled its offer, officials said Saturday as the carrier scrambled for a new partner. TPG, a San Francisco-based private equity firm, has withdrawn its bid for a 49 percent stake in Sri Lankan, dashing […]

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India Tells Sri Lanka: You Can Take Your Port And Shove It

Friday, April 28th, 2017

Wade Shepard ,  Contributor Courtesy Forbes https://www.forbes.com/sites/wadeshepard/2017/01/21/india-tells-sri-lanka-take-your-trincomalee-deep-sea-port-and-shove-it/#58d40c5b5f88 Last Wednesday, January 18th, Sri Lanka’s minister for regional development, Sarath Fonseka, told journalists at a conference in New Delhi that terms were being discussed to give Sri Lanka’s northeastern Trincomalee port to India. Sri Lankan Prime Minister Ranil Wickremesinghe reportedly vouched for the veracity of the remarks […]

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ජාතික ප්‍රතිපත්තියක් සාදන තෙක් එට්කා සාකච්ඡා එපා!

Thursday, April 27th, 2017

Professionals’ National Front පසුගියදා ජනමාධ්‍ය වාර්ථා කර තිබුන ආකාරයට අගමැති රනිල් වික්‍රමසිංහ මහතා ඉන්දියාව බලා පිටත්ව යනුයේ ඉන්දීය අගමැති මෝදි මහතා හමුවී අපේ රටට තීරනාත්මකව බලපාන්නා වූ කාරනා කිහිපයකටම සිය අවසාන එකගතාවය පලකිරීමටය. ඒ අතර අපේ රටට  තීරනාත්මකව බල පාන්නාවූ එට්කා ගිවිසුම ද වේ. රට තුල මහත් ආන්දෝලනයකට තුඩුදුන් එට්කා ගිවිසුම පිළිබදව රටේ පිළිගත් වෘත්තිකයන්ගේ […]

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NO TALKS ON ETCA, TILL THE FORMATION OF A NATIONAL POLICY

Thursday, April 27th, 2017

Professional’s National Front   According to the recent press reports, PM Ranil Wickremasinge visited India in order to meet his Indian counterpart, Modi, and to give the final consent on several issues of critical importance to Sri Lanka.  Among such issues, one is the ETCA agreement. Throughout the recent past, Professionals National Front (PNF), a collection […]

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India assures Sri Lanka on world class road infrastructure in Jaffna

Thursday, April 27th, 2017

Courtesy Adaderana India has agreed to cooperate with Sri Lanka in developing world class road infrastructure in Jaffna region of Sri Lanka. The Indo-Sri Lanka Cooperation in road construction came up for discussion when India’s Road and Transport Minister Nitin Gadkari called on visiting Sri Lankan Prime Minister Ranil Wickremesinghe. During the discussions, the Sri […]

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Selling family silver no panacea for country’s ills

Monday, April 24th, 2017

S. Talpahewa, Former Chairman/Managing Director, Ceylon Petroleum Corporation. Courtesy The Island April 24, 2017, 10:03 pm Dr. Dayan Jayatilleka in his article, “Ranil’s worst betrayal: Giving Trincomalee to India”, implies that Prime Minister Ranil Wickremesinghe has betrayed the country at least twice before, i. e. one a bad betrayal and two a worse betrayal. Whatever […]

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Dasa-Raja-Dhamma: The ‘Ten Royal Virtues’

Sunday, April 23rd, 2017

by Danister I. Fernando Buddhism is a way of life. What is mainly essential, according to the noble philosophy of Sakya Muni the Buddha is to follow the Eightfold Path leading to complete emancipation- Nibbana. But it is wrong to conclude that Buddhism is interested only in such lofty ideals and high philosophical thought ignoring […]

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Mattel Aims to Stimulate Growth in Sri Lanka’s Toy Industry

Sunday, April 23rd, 2017

Business Mattel, a multinational toy manufacturer that for decades inspired the wonder of childhood across the globe, has identified Sri Lanka as a key market for growth. In a recent presentation to Mattel’s local partners, at Cinnamon Lakeside, Ishmeet Singh, Country Manager – South Asia, outlined the toy company’s vision for Sri Lanka. Citing the […]

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Tribunal concludes: Monsanto is a Scientific fraud guilty of Ecocide and Crimes against Humanity

Sunday, April 23rd, 2017

Courtesy The Island April 22, 2017, 6:00 pm The decades long scream of agony of a poisoned people and a poisoned earth for accountability on the part of one of the most vicious and manipulative of Transnational Corporates (TNCs) has been vindicated. In October 2016, the Monsanto Tribunal (MT) set up in the Hague listened […]

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Tea road’ takes a Sri Lankan to Chinese home

Friday, April 21st, 2017

By Yang Yang Courtesy chinadaily.com.cn  Anura Banda has been in China for over 20 years but he will never forget the fragrant aroma of his first sip of Chinese tea.”Chinese tea is very famous in Sri Lanka. The first Chinese tea I ever had was green tea. The aroma was very pleasant. Although it was […]

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India, Sri Lanka to Sign Up Deal on Port Development Next Week

Friday, April 21st, 2017

Courtesy Sputnik Sri Lankan Prime Minister Ranil Wickremesinghe is scheduled to visit India from April 25 to April 29 to strengthen economic cooperation between the two neighbors. His visit will also set the agenda for the upcoming visit of Indian Prime Minister Narendra Modi to Sri Lanka in May. © PHOTO: DENETH17 Sri Lanka Plays […]

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Two years after the Central Bank bond scam, industries are bleeding to death!

Thursday, April 20th, 2017

Samantha Kumarasinghe (The writer is an entrepreneur and an industrialist.) It is now an openly-discussed incident that the former Central Bank Governor had misused his authority to allow a company that his son-in-law is a director/major shareholder of to make billions of rupees in undue profits at the expense of Government and other public funds. The subject […]

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Why CHINA Not India?- Economic and Geo-political commentary

Tuesday, April 18th, 2017

By Abdul Samad Courtesy Ceylon Today This article is with reference to Mr. Dayan Jayatilleka’s write-up published on colombotelegraph.com dated 7 April 2017. It was titled, The Avurudu sale of Sri Lanka-Who will stop it? The writer makes a very valid point arguing the case for Sri Lanka to be with China as opposed to India. […]

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Imported workers fill gaps in short-handed building sites

Monday, April 17th, 2017

By Kasun Warakapitiya and Shaadya Ismail Courtesy The Sunday Times Sri Lanka’s construction industry is facing a shortage of manual labour, sources say, and Indians and Chinese workers are filling the gaps.   The Board of Investment estimates that 60,000 manual workers are needed in the construction sector, but 20,000 are employed. Companies registered under the […]

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Jacqueline Fernandez invests $543,000 in Rakyan Beverages, makers of cold-pressed juice brand RAW Pressery

Monday, April 17th, 2017

 S V Krishnamachari Courtesy International Business Times With a following of 6.08 million on Twitter and 12.7 million on Instagram, Jacqueline Fernandez is seen as an “influencer” by the juice maker. Sri Lankan model-actress and sexiest woman in the world Jacqueline Fernandez has invested $543,000 in Rakyan Beverages Private Limited, a company that makes the Raw Pressery […]

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Colombo’s seafront makes way for China-backed financial city

Thursday, April 13th, 2017

Meera Srinivasan Courtesy  The Hindu Project developer hopes investments to the tune of $13 billion to start coming in from 2018; targets major investors from South Asia, particularly India It is hard to miss the blue-lettered boards lining the northern end of Galle Face, Colombo’s iconic seafront. “A new Central Park in Colombo”, “A new world […]

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Sri Lanka seeks to reduce China’s stake

Wednesday, April 5th, 2017

 Courtesy portstrategy.com Sri Lanka’s government is seeking to reduce China Merchant Port Holdings’ stake in a strategic port project by up to a quarter as part of a renegotiation aimed at addressing public and political opposition to the deal, Reuters has reported. China Merchants Port Holdings had been expected to pay $1.12bn for a 99-year […]

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Ex-President extends conditional support to mega Chinese investment

Sunday, April 2nd, 2017

By Norman Palihawadana Courtesy The Island April 2, 2017, 10:48 pm Former President Mahinda Rajapaksa has offered conditional support to a mega Chinese investment project in the Hambantota District. Former President Rajapaksa yesterday told The Island that his support would depend on the Sirisena-Wickremesinghe government and China agreeing to adopt the original investment plan finalised during […]

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Ajit Doval’s unfolding debacle in Sri Lanka

Monday, March 27th, 2017

By C. A. Chandraprema March 26, 2017, 6:50 pm The Indian press carried anxious commentaries about the recent visit of Chinese Defence Minister General Chang Wanquan to Sri Lanka. India Today observed that this visit took place amidst warnings issued by the Chinese media to the effect that Beijing will fight back if New Delhi […]

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Russia Offers to Set Up Helicopter Maintenance Center in Sri Lanka – Official

Friday, March 24th, 2017

Sputnik A deputy chief of Russia’s Federal Service for Military-Technical Cooperation said that Russia has proposed to set up a service center for Russian-made helicopters in Sri Lanka. © SPUTNIK/ MAKSIM BOGOVID Russia, Sri Lanka Discuss Delivery Contract of Gepard 3.9 Frigates LANGKAWI (Sputnik) – Russia has proposed to set up a service center for Russian-made helicopters in Sri […]

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Hambantota Port-Why it should not be sold or leased to foreign ownership

Friday, March 17th, 2017

Chamber of Young Lankan Entrepreneurs

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Sri Lanka urged to make concrete progress to regain GSP+

Tuesday, March 14th, 2017

By Yusuf Ariff Courtesy Adaderana The European Union (EU) has called on Sri Lanka to make ‘prompt and concrete’ progress in fulfilling international commitments on human rights and labour rights ahead of last phase talks on regaining GSP Plus from the EU. The second meeting of the Working Group on Governance, Rule of Law and Human […]

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Sri Lanka’s Debt Crisis Is So Bad The Government Doesn’t Even Know How Much Money It Owes

Tuesday, March 7th, 2017

Wade Shepard ,  CONTRIBUTOR Courtesy Forbes Trying to develop its infrastructure to increase its economic potential has plunged Sri Lanka deep into a pit of debt, pushing the country to the brink of bankruptcy and prompting an IMF bailout. The official estimate of what Sri Lanka currently owes its financiers is $64.9 billion — $8 billion of […]

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