Author Archive for Economy

Rice mafia controls prices

Saturday, May 27th, 2017

By Niranjala Ariyawansha Courtesy Ceylon Today Last week the government decided to import 300,000 metric tons of rice saying there is a shortage in requirement until September. However, the All Ceylon Farmers’ Federation (ACFF) refuted the government claim saying that 200,000 metric tons of rice that is needed for local requirement for the current year is […]

More >

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 […]

More >

ගහ දන්න මිනිහට කොළ කඩා පෑම

Wednesday, May 24th, 2017

ආචාර්ය නාලක ගොඩහේවා පසුගියදා රූපවාහිනී නාලිකාවක පැවති දේශපාලන වාදයකදි, හම්බන්තොට පාර්ලිමේන්තු මන්ත්‍රී නාමල් රාජපක්ෂ එක්සත් ජාතික පක්ෂයේ ආචාර්ය හර්ෂද සිල්වා මහතාගෙන් ඉතා කාලෝචිත ප්‍රශ්නයක් ඇසුවේය. ඒ 2016 මහ බැංකු වාර්තාවේ සඳහන් වන රැකියා ආශ්‍රිත සංඛ්‍යාලේඛන වන නිරවද්‍යතාවය පිළිබඳවය. ප්‍රශ්ණය නිසා අන්දමන්ද වූ නියෝජ්‍ය ඇමති වරයා තම දුරකථනය ඔස්සේ මහබැංකු වාර්ථා පිරික්සා පැවසුවේ 2015 හා 2016 […]

More >

Sri Lanka’­s middle-income status preserved by housemaids and unskilled labour

Sunday, May 21st, 2017

by Sanath Nanayakkare Courtesy The Island Migrant worker remittances have mainly contributed to the surplus in the nation’s secondary income account which is earned by unskilled and housemaid categories, the Central Bank’s Annual Report 2016 reveals. CBSL Annual Report further notes that the surplus in the secondary income account mainly backed by these worker remittances have […]

More >

MR is not responsible for current economic turmoil: Bandula

Wednesday, May 17th, 2017

 Courtesy The Daily Mirror The latest Central Bank (CB) report for the year 2016 clearly indicates that current economic crisis was not a result of the action of former President Mahinda Rajapaksa or his government, the Joint opposition claimed yesterday. Addressing a press briefing, MP Bandula Gunawardane said nearly two and half years has passed […]

More >

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 […]

More >

The 231-billion rupee mega ‘Growth Scam’

Tuesday, May 16th, 2017

By Ajith Nivard Cabraal, Former Governor, Central Bank of Sri Lanka * Dubious adjustment made to 2015 Nominal GDP in order to push up 2016 Growth Rate from 2.2% to 4.4% * Dubious adjustment made to 2015 Nominal GDP in order to push up 2016 Growth Rate from 2.2% to 4.4% * GDP of 231 […]

More >

Govt. to use proceeds from non-strategic asset sales for liability management

Wednesday, May 10th, 2017

by Sanath Nanayakkare Courtesy The Island May 9, 2017, 8:10 pm Central Bank Governor Dr. Indrajit Coomaraswamy said yesterday that proceeds from the potential long lease of Hambantota Port and proceeds from the sale or divestment of other non-strategic state assets would be pooled into a separate fund for liability management as foreign debt servicing commitments […]

More >

The Yahapalana Government’s Economic Report Card – 2016: Utter Failure!

Wednesday, May 10th, 2017

By Professor Milton Rajaratne (Faculty of Management, University of Peradeniya) Courtesy The Island May 9, 2017, 8:28 pm In contrast to the Rajapaksa government, the Yahapalana government highlighted accelerated growth, one million new jobs, small government, social market policy, debt free economy, big push to industry, and infrastructure projects, and revitalization of the capital market etc. […]

More >

Rs 1.2 bn allocated for ministers’ luxury vehicles in 2017 alone

Tuesday, May 9th, 2017

By Shamindra Ferdinando Courtesy The Island May 9, 2017, 10:41 pm The national economy was deteriorating at an alarming rate as revealed by the latest Central Bank annual report, but the ruling coalition had presented three supplementary budgets amounting to staggering Rs 1.2 bn to acquire more super luxury vehicles for politicians and officials this year […]

More >

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 […]

More >

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 […]

More >

Sri Lanka to raise $2.5 bn as IMF money delayed

Sunday, April 30th, 2017

Courtesy The Island April 29, 2017, 7:20 pm Sri Lanka will raise $2.5 billion through sovereign bonds and syndicated loans amid delays in securing the latest instalment of an International Monetary Fund bail out, the finance minister said Thursday. The island was hoping to issue about $1.5 billion in bonds by June, while nearly $1 […]

More >

BlackRock Sovereign Risk Index- Sri Lanka ranks 54 out of 60 countries.

Friday, April 28th, 2017

This quarter we have added 10 additional countries to the BSRI, taking advantage of the increasing depth and quality of available data on emerging market economies. The new members are the Dominican Republic, Ecuador, Kazakhstan, Lebanon, Lithuania, Panama, Romania, Serbia, Sri Lanka and Uruguay. The BSRI now spans 89% of the JP Morgan EMBI Global […]

More >

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 […]

More >

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 […]

More >

Forex Bill similar to what Solheim envisaged: JO

Wednesday, April 26th, 2017

Lahiru Pothmulla Courtesy The Daily Mirror The Foreign Exchange Bill which presented in Parliament by the government is similar to what former Norwegian peace envoy Erik Solheim envisaged, the joint opposition said today. It said the Bill would enable the Tamil Diaspora which was a repository of LTTE funds to invest in Sri Lanka without any […]

More >

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 […]

More >

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 […]

More >

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. […]

More >

Under the Radar: Are Sri Lanka’s ports the next Great Game for China, India and Japan?

Monday, April 17th, 2017

by Jeremy Luedi , April 17, 2017  Courtesy Global Risk Insights Increased international interest in the Indian Ocean comes at a convenient time for Sri Lanka, as the country continues to recoup after the end of its decades-long civil war which ended in 2009. The island nation is being courted (and courting in turn) by […]

More >

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 […]

More >

China, Sri Lanka Back Free Trade Talks

Thursday, April 13th, 2017

by Mary Swire, Tax-News.com, Hong Kong Leaders from China and Sri Lanka have voiced support for a proposed bilateral free trade agreement at a recent meeting. Yu Zhengsheng, Chairman of the People’s Political Consultative Conference (PPC), was holding talks with Sri Lanka’s Prime Minister, Ranil Wickremesinghe. The state news agency, Xinhua, said Yu had called […]

More >

Speech by Dr Nalaka Godahewa on the current economic paralysis

Wednesday, April 5th, 2017

SPEECH AT RORATY CLUB OF COLOMBO WEST – 15th March 2017 This speech was made by Dr Nalaka Godahewa-Former MD-Sri Lanka Insurance/Former Chirman-Sri Lanka Tourism Board/Director-Lanka Hospital-AP Very good afternoon ladies and gentlemen. Thank you very much for inviting me to share some thoughts at this distinguished gathering. I my self was a Rotarian for […]

More >

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 […]

More >

Power sector corruption second only to CB bond scams –Anti-Corruption Front

Sunday, April 2nd, 2017

Over USD 3,700 mn worth foreign investment on hold while costly diesel plants in operation April 2, 2017, 10:41 pm By Shamindra Ferdinando Courtesy The Island Accusing the Power and Renewable Energy Ministry of favoring costly diesel power generation, the Anti Corruption Front (ACF) has urged the Sirisena-Wickremesinghe government to immediately review a series of investment […]

More >

IMF trying to ‘foist’ Ghana’s tax laws on Sri Lanka? Business groups convey concerns to PM & FM

Saturday, April 1st, 2017

by Suresh Perera Courtesy The Island April 1, 2017, 7:41 pm The proposed new Inland Revenue Act has run into stiff opposition from key industry players, who described the controversial move to replace the existing law, as a “retrograde step that’s bound to create confusion and impinge on the overall revenue collection mechanism”. Asserting that the […]

More >

හෙජින් ගනුදෙනවේ ඇත්ත මෙන්න…

Saturday, April 1st, 2017

ඔස්‌මන් චන්ද්‍රවංශ හිටපු විනිමය පාලක සහ ජ්‍යෙෂ්ඨ අර්ථශාස්‌ත්‍රඥ යහපාලන රජය විසින් සිදු කර ඇති වංචා, පාඩු සහ වන්දි ගෙවීම් මෑතක සිට, අගමැතිවරයා සහ මුදල් ඇමැතිවරයා ඇතුළු මැති ඇමැතිවරු කීප දෙනකුම පසුගිය රජයේ – හෙජින් ගනුදෙනුව ඔස්‌සේ ශ්‍රී ලංකාවට සිදුවූ පාඩුව රුපියල් බිලියන 500 ක්‌ පමණ වී යයි පවසා ඇත. ඒ නිසා ජනතාවට වර්තමානයේදී අලෙවි කරන […]

More >

Rajapaksa says his govt never decided to sell Hambantota port

Saturday, April 1st, 2017

By Yusuf Ariff Courtesy Adaderana Former President Mahinda Rajapaksa today rejected allegations that the decision to sell the Hambantota Port was first made during his government in 2014 and asserted that while he was in power they only took back what was already sold. “We never decided to sell anything during our time. I took back […]

More >

THE PRESENT WORLD ECONOMY IS ANTI HUMAN – TIME TO RE-THINK – A Sri Lankan Buddhist perspective

Friday, March 31st, 2017

Janaka Goonetilleke Ayn Rand called her philosophy “Objectivism”, describing its essence as “the concept of man as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute. When Vasgo De Gama Invaded the spice market of Calicut and […]

More >

Copyright © 2017 LankaWeb.com. All Rights Reserved. Powered by Wordpress