Author Archive for Economy

Game of Loans: How China Bought Hambantota

Tuesday, April 3rd, 2018

CSIS Briefs Courtesy Center for Strategic and International Studies The Issue Unable to repay its debt, Sri Lanka gave China a controlling equity stake and a 99-year lease for Hambantota port, which it handed over in December 2017. The economic rationale for Hambantota is weak, given existing capacity and expansion plans at Colombo port, fueling concerns that it […]

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Govt never had a Finance Minister with understanding about taxes – Badula

Monday, April 2nd, 2018

වත්මන් රජයේ බදුගැන අවබෝධයක්‍ ඇති මුදල් අමාත්‍යවරයෙක් සිටියේ නෑ… බන්දුල

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The public are burdened due to tax increase – Former President (English)

Monday, April 2nd, 2018

The public are burdened due to tax increase – Former President (English)

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Yahapalana ‘hyper-debt regime’ to take on even more mega-debt

Thursday, March 22nd, 2018

By C. A. Chanadraprema (Island) In a recent article titled “Yahapalana government as a hyper-debt regime”, Professor Milton Rajaratne of the University of Peradeniya has pointed out that even though the yahapalana government accuses the Rajapaksa government of having imposed an immense debt burden on the country, the present government too has borrowed ‘surprising amounts’ of […]

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අලුත් අවුරුද්දට ජනතාවට රජයෙන් කිසිම සහනයක් නැහැ

Tuesday, March 20th, 2018

ගොසිප් සී ලංකා වෙබ් අඩවිය වෙළද පොළේ පාරිභෝගික භාණ්ඩවල මිල ගණන් ඉතාමත් ඉහළ මට්ටමක වතින අතර ජනතාවට මෙවර සිංහල හා හින්දු අලුත් අවුරුද්ද සමරන්න වී තිබෙන්නේ ඉතාමත් දුෂ්කර විදිහටය. එම නිසා සිංහල හා හිංදු අලුත් අවරුද්ද වෙනුවෙන් පාරිභෝගික කටයුතු පිළිබද අධිකාරිය ජනතාවට අවුරුදු සැමරීම සදහා කිසියම් සහන වැඩ පිළිවළක් සකස් කර ඇත්දැයි අප ගොසිප් සී ලංකා වෙබ් […]

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Sri Lankan stocks fall to nearly 7-week closing low on growth worries

Monday, March 19th, 2018

COLOMBO, March 19 (Reuters) – Sri Lankan shares fell to their lowest close in nearly seven weeks on Monday, as investors sold diversified and manufacturing stocks on worries over slower economic growth, brokers said. The statistics department withdrew its 2017 full-year and fourth-quarter GDP data on Friday, a day after saying the economy expanded 3.1 […]

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Behind China’s $1 trillion plan to shake up the economic order

Monday, March 5th, 2018

Jane Perlez, Yufan Huang Courtesy The  Independent (UK) At the heart of China’s economic ambitions is the construction of a railway linking eight countries, but what effect will it have on the wider region? Chinese workers prepare for the building of a railway linking China to Laos at Bopiat village in the Northern province of Louang Namtha Getty […]

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ආණ්ඩුව පෙරලෙන තත්වයක් තියෙන්නේ..- රවි කරුණානායක

Sunday, March 4th, 2018

 lanka C news ජනතා ද්‍රෝහී ආර්ථික වැඩපිලිවෙලවල් යෝජනා කරමින් ආණ්ඩුව කෙරෙහි ජනතා අප‍්‍රසාදය ඇති කරන ලද්දේ ජාත්‍යන්තර මුල්‍ය අරමුදල විසින් බව හිටපු මුදල් ඇමති රවි කරුණානායක මහතා පවසයි. ජාත්‍යන්තර මුල්‍ය අරමුදලේ මෙරට කාර්යභාරය අවසන් බැවින් ඔවුන් මෙරටින් පිටව යා යුතු යයිද මන්ත‍්‍රීවරයා සදහන් කරයි. මහ බැංකුවේ පණ්ඩිතයන්ගේ ක‍්‍රියාකාරකම් නිසා ආණ්ඩුව පෙරලෙන තත්වයක් ඇති වී තිබෙන […]

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Yahapalana ‘hyper-debt regime’ to take on even more mega-debt

Wednesday, February 28th, 2018

By C. A. Chanadraprema Courtesy The Island February 28, 2018, 10:36 pm In a recent article titled “Yahapalana government as a hyper-debt regime”, Professor Milton Rajaratne of the University of Peradeniya has pointed out that even though the yahapalana government accuses the Rajapaksa government of having imposed an immense debt burden on the country, the present […]

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Yahapalana govt.’s irresponsible and destructive borrowing spree

Tuesday, February 27th, 2018

MEDIA RELEASE Mahinda Rajapaksa Former President of Sri Lanka The government has introduced in parliament the Active Liability Management Bill seeking authorization to borrow over Rs. one trillion from local and foreign sources, over and above the yearly borrowing limit set by parliament. The yahapalana government has been irresponsible and reckless in borrowing money from its inception. […]

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යහපාලන ආණ්ඩුවේ වගකීම් විරහිත හා විනාශකාරී ණය ගැනීම

Tuesday, February 27th, 2018

මාධ්‍ය නිවේදනය මහින්ද රාජපක්‍ෂ ශ්‍රී ලංකාවේ හිටපු ජනාධිපති පාර්ලිමේන්තුවෙන් වසරක් පාසා පනවන ණය ගැනීමේ සීමාව ඉක්මවා, විධායකයට  වෙනම රුපියල් ට්‍රිලියනයක (එනම් බිලියන දහසක) ණය දේශීය හෝ විදේශීය මූලාශ්‍ර වලින් ලබා ගැනීමට හැකිවන පරිදි නව නීතියක් සම්පාදනය කිරීම සඳහා ආණ්ඩුව සක්‍රීය බැරකම් කළමනාකරණය කිරීම” යන මැයෙන් පනත් කෙටුම්පතක් පාර්ලිමේන්තුවට හඳුන්වා දී ඇත. යහපාලන ආණ්ඩුව මුලසිටම ණය ගැනීම් […]

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Following Governor’s objections Govt. pressures CBSL to endorse controversial payment platform project NPP apolitical, will promote economic growth – Harsha

Thursday, February 22nd, 2018

By Shamindra Ferdinando Courtesy The Island On the instructions of Prime Minister Ranil Wickremesinghe, who is also minister of National Policies and Economic Affairs, his deputy, Dr. Harsha de Silva has initiated talks with the Governor of the Central Bank of Sri Lanka (CBSL) Dr. Indrajith Coomaraswamy to iron out differences over proposed controversial National Payment […]

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Sense and Sensibility

Monday, February 12th, 2018

S. Navaratne   February 11, 2018, 10:01 pm One feels somewhat disconcerted when a highly respected public servant makes comments that go far and beyond his remit albeit in his view to further yahapalana aims. The job of the Auditor General on matters relating to public debt is to provide to the public evidence based facts after stringent auditing […]

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Auditor General Gamini Wijesinghe draws flak for timing of national debt claim SLPP slams govt. over AG’s conduct, polls monitors differ

Saturday, February 10th, 2018

By Shamindra Ferdinando Courtesy The Island Alleging that Auditor General Gamini Wijesinghe has issued a controversial statement in respect of national debt beneficial to the ruling coalition ahead of the Feb. 10 local government polls, National Polls Observation Center (NPOC) has urged the National Election Commission and the Institute of Chartered Accountants of Sri Lanka to inquire […]

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EPF, NSB, SLIC losses due to bond scams exceed Rs. 31 billion Anti-corruption activists reveal:

Monday, February 5th, 2018

By Rathindra Kuruwita Courtesy The Island February 5, 2018, 11:22 pm The manipulation of the secondary bond market by Perpetual Treasuries caused three state institutions, Employees’ provident Fund (EPF,) Sri Lanka Insurance Corporation (SLIC) and National Savings Bank (NSB), to lose over Rs. 31 billion, anti corruption activists said yesterday. “On Sunday we revealed that the […]

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ණය කතා.. බොරු කතා.. ජනපති මෛත‍්‍රී කියූ ට‍්‍රිලියන දහයේ ණය කතාවට සුපතල ආර්ථික මහාචාර්යගෙන් පිලිතුරු

Sunday, February 4th, 2018

ජ්‍යෙෂ්ඨ මාහාචාර්ය සුනන්ද මද්දුමබණ්ඩාර කැලණිය විශ්වවිද්‍යාලයේ ආර්ථික විද්‍යා අධ්‍යයන අංශය lanka C news ජනවාරි 6 වන දින ජනාධිපති මෛත‍්‍රීපාල සිරිසේන මහතා රටේ ජනමාධ්‍ය ප‍්‍රධානීන් අමතා කළ ප‍්‍රකාශය පිළිබඳව දෙස් විදෙස් ආර්ථික විද්‍යාඥයන්ගේ සහ ජාත්‍යන්තර මූල්‍ය ආයතනවල අවධානය මේ වන විටත් යොමු වී ඇතැයි සිතිය හැක. එයට හේතුව එතුමා රටේ ආර්ථික කටයුතු පිළිබඳව ඉතා ආන්දෝලාත්මක කරුණු […]

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Bond scams: EPF loses over Rs. 26 bn-PCoI’s, AG’s estimates challenged-Anti-corruption activist drops bomshell

Sunday, February 4th, 2018

By Rathindra Kuruwita Courtesy The Island The total loss incurred by the Employment Providence Fund (EPF) due to the bond scam alone is over Rs 26 billion, Center for Human Rights (CHR) Executive Director Rajith Keerthi Tennakoon said yesterday addressing a press conference at Rajagiriya. Referring to a report prepared by former Chief Executive Officer (CEO) […]

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Country’s economy no longer under UNP: President

Monday, January 22nd, 2018

Courtesy  The Daily Mirror The country’s economy would be managed by a the Economic Development Council headed by President Maithripala Sirisena from this year onwards, President Sirisena said addressing an election rally in Kegalle yesterday. The President said that he had set up an Economic Development Council headed by him to manage the country’s economy […]

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Sri Lanka to raise $500mln through bonds, divesting hotels amid debt

Tuesday, January 9th, 2018

www.thenews.com.pk COLOMBO: Sri Lanka aims to raise $500 million this month via development bonds and is in the process of divesting two state-owned hotels, the central bank and a ministry said on Monday, as the government faces unprecedented debt repayment this year. President Maithripala Sirisenea´s administration must repay an estimated 1.97 trillion rupees ($12.85 billion) […]

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Govt. borrowed USD 14.6 bn foreign currency loans: MR

Monday, January 8th, 2018

Courtesy The Daily Mirror The government has borrowed over USD 14.6 billion in foreign currency loans alone during the short period of 36 months that this government has been in power, former President Mahinda Rajapaksa said today. He said even though 14.6 billion USD would suffice to build five Norochcholai power plants, five Hambantota harbours […]

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Cabraal points finger at President and PM

Saturday, January 6th, 2018

Courtesy The Island January 6, 2018, 7:46 pm Former Central Bank Governor Ajith Nivard Cabraal yesterday said that Treasury Bond issues from 2008 to 20014 have “already been closely examined by the Auditor General (AG) in response to a request made Aug. 19, 2016, by then Finance Minister Ravi Karunanayake under section 43(2) of the […]

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Treasury Bonds scam Act to recover losses soon – Dayasiri President to brief Cabinet

Saturday, January 6th, 2018

Courtesy Ceylon Today A Bill, which will enable the State to recover a sum of Rs 8.5 billion, that was allegedly robbed by those involved in the Central Bank Treasury Bonds scam, will be presented to the House when Parliament convenes for the first time in 2018, Co-Cabinet Spokesman, Minister Dayasiri Jayasekera said yesterday. He […]

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‘එට්‌කා’ සහ ආර්ථික ඝාතකයෝ

Thursday, January 4th, 2018

තොරතුරු තාක්‌ෂණ වෘත්තීයවේදීන්ගේ සංගමයේ ලේකම් ලසන්ත වික්‍රමසිංහ  වෘත්තිකයන්ගේ ජාතික පෙරමුණ විසින් පසුගියදා කොළඹ මහජන පුස්‌තකාල ශ්‍රවනාගාරයේදී ‘රට විකිණීමට එරෙහිව් පැවැත්වූ සම්මන්ත්‍රණයේදී තොරතුරු තාක්‌ෂණ වෘත්තීයවේදීන්ගේ සංගමයේ ලේකම් ලසන්ත වික්‍රමසිංහ මහතා විසින් එට්‌කා ගිවිසුම සහ ශ්‍රී ලංකාවේ ආර්ථික ඝාතකයෝ යන තේමාව යටතේ පැවැත්වූ දේශනය:  එට්‌කා ගිවිසුම සම්බන්ධයෙන් ප්‍රධාන වගකීම දරන අමාත්‍ය මලික්‌ සමරවික්‍රම මහත්තයාට මේ රටේ සංවර්ධනය […]

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Sri Lanka central bank curbs two financial firms to ensure stability

Tuesday, January 2nd, 2018

COLOMBO, Jan 2 (Reuters) – Sri Lanka’s central bank said on Tuesday it had taken action against two distressed financial companies to safeguard the overall financial system. It appointed a panel to manage Swarnamahal Financial Services PLC and its parent company ETI Finance Ltd, while curbing withdrawals of maturing deposits for six months, citing a […]

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Fair prices for essentials?

Sunday, December 31st, 2017

Upali Cooray Former General Manager of SATHOSA Prime Minister Ranil Wickramasinghe has said government has taken measures to introduce fair price shops in collaboration with private sector and Sathosa to ensure fair prices for essential commodities in the open market. This statement of the prime minister is something like dousing fires without preventing fires. Considering the fact that the oncoming crucialelections scheduled for […]

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Sri Lankan rupee falls; down 2.5 pct in 2017

Friday, December 29th, 2017

COLOMBO, Dec 29 (Reuters) – The Sri Lankan rupee closed lower on Friday, ending the year 2.5 percent weaker, as demand for dollars from importers and banks outweighed inward remittances and conversion of the U.S. currency by exporters, dealers said. The spot rupee closed at 153.60/65 per dollar, compared with Thursday’s 153.50/70. The currency’s fall […]

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ගෙවී ගිය යහපාලනයේ තෙවැනි වසර

Thursday, December 28th, 2017

ශ්‍යාම් නුවන් ගනේවත්ත  ගිය වසරේ (2016) ශ්‍රී ලංකා මහ බැංකු වාර්තාවේ සඳහන්ව ඇති පරිදි මේ වසරේ (2017) ශ්‍රී ලංකා ආර්ථිකය සියයට 5 කින් වර්ධනය වනු ඇතැයි මුලින් අපේක්‌ෂා කළේය. එහෙත් එය දැන් සියයට 4.0 – 4.5 ත් අතර අගයකට සීමා වනු ඇතැයි zමෑත කාලීන ආර්ථික ප්‍රවණතාZ වාර්තාවෙහි සඳහන්ය. මේ පසුබිම තුළ පසුගිය දෙවසර මෙන්ම මේ […]

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Early parliamentary sessions required to solve economic chaos – JO

Wednesday, December 27th, 2017

By Sanchith Karunaratna Courtesy Adaderana MP Dinesh Gunawardena made a request from the speaker of parliament to schedule parliamentary sessions before the current scheduled date in January, to formulate a resolution to the current state of economic turmoil that the country is faced with. He further stated that the JO will submit a written request to the […]

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The tank, dagaba and the village

Thursday, December 21st, 2017

by P.G.Punchihewa Ph.D. November 4, 2017, 6:18 pm Nearly two million people in at least 22 districts out of 25 are reported to be affected by the continuing drought. Among the districts are Anuradhapura, Polonnaruwa, Mannar, Vavuniya, Trincomalee, Kurunegala, Puttalam , Jaffna ,Kilinochchi, Mullativu ,Matale and Moneragala. Most of the large, medium and small tanks […]

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‘Swift implementation of various infrastructure projects can boost growth’

Thursday, December 21st, 2017

TE RAJA SIMHAN Courtesy The Hindu Business Line  Maersk Line (India, Sri Lanka, Bangladesh, Nepal, Bhutan, Maldives), a part of Maersk Group, is a leading container shipping line in the region with footprint across 25 offices, 55 inland acceptance points and across 16 Indian ports. Steve Felder, Managing Director of Maersk Line in Asia, spoke to BusinessLine on […]

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