Author Archive for Economy

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 […]

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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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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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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 […]

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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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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 […]

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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 […]

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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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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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ECONOMY PLUNGES LANKA IN POLITICAL TRAP

Friday, March 31st, 2017

WINSTON DE VALLIERE Courtesy Ceylon Today In quite a paradoxical change in policy that at first imbued confidence in India, the US and other countries concerned with what is broadly termed Chinese expansionism, has now done away with the sense of relief in the context of their perceived national security and other fears. Former President Mahinda Rajapaksa’s […]

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Govt. wasted $4.3 billion – Bandula

Tuesday, March 28th, 2017

Courtesy Adaderana MP Bandula Guawardana stated that the current government had wasted over $4.3 billion to prevent the Lankan rupee from depreciating, during a press conference held earlier today (28).  He further added that although the current finance minister promised to bring the buying price of the dollar down to Rs.130 within a week, it […]

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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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Monetary Board probe reveals heavy EPF loss 9.5 Bn loss Central Bank bond scams

Monday, March 27th, 2017

By Shyam Nuwan Ganewatta Courtesy The Island March 26, 2017, 12:00 pm A special investigation, commissioned by the Monetary Board of the Central Bank of Sri Lanka, has revealed that bond scams under the current government have caused a staggering loss of about Rs. 10 billion to the Employees’ Provident Fund (EPF). A report prepared by […]

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Govt. seeks Rs.288mn to buy vehicles for ministers

Saturday, March 25th, 2017

Courtesy  Daily Mirror The government today sought Parliament’s approval for spending a total sum of Rs.288.2 million in order to purchase vehicles for several ministers, deputy ministers and state ministers. Accordingly, the approval was sought for the spending of Rs.42 million to purchase a vehicle for deputy chairman of committees, Rs.82 million on a new […]

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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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Sri Lankan rupee weaker despite cenbank rate hike

Friday, March 24th, 2017

Courtesy nasdaq.com COLOMBO, March 24 (Reuters) – The Sri Lankan rupee traded weaker on Friday on importer dollar demand despite the central bank’s decision to raise key rates by 25 basis points in a move to ease the pressure on the currency. The central bank raised its benchmark interest rates by 25 basis points before […]

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Learning from Western Australia – a response

Monday, March 20th, 2017

By Vinod Moonesinghe March 20, 2017, 8:03 pm Perhaps symptomatic of the extent to which the Yahapalanaya regime has failed to fulfil its promises is that its supporters among the intelligentsia are now distancing themselves from it. The latest of them appears to be Prof. Laksiri Fernando (“Western Australian Elections and Possible Lessons for Sri […]

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Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part IV

Monday, March 20th, 2017

by C. R. de Silva, C.C.S. (Retd). Small & Medium Enterprises (SMEs) – Low Export Viability under FTAs. Courtesy The Island March 19, 2017, 12:00 pm Continued from Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part III Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE […]

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අලූත් විගණන පනතින් විගණකාධිපතිගේ බලතල විශාල ලෙස කපලා..කෝප් කමිටුවට වාර්තා දෙන්නත් බෑ..

Sunday, March 19th, 2017

යසවර්ධන රුද්රිගු– Deshaya.lk සංශෝධිත විගණන පනත මගින් විගණකාධිපති ආණ්ඩුවේ වෛරක්කාරයකු ලෙස සලකා කටයුතු කර ඇති බව පෙනෙන්නට තිබෙන නිසා තමා සංශෝධිත විගණන පනතට නිරීක්ෂණ ඉදිරිපත් කිරීමෙන් වැළකී සිටි බව විගණකාධිපති ගාමිණී විජේසිංහ පැවසුවේය. තමාගේ නිරීක්ෂණ සඳහා එවා ඇති සංශෝධිත විගණන පනතේ අවසාන කෙටුම්පත පිළිබඳ තමා කිසිදු මතයක් ඉදිරිපත් නොකරන බව වාචිකව දැනුම් දුන්නේ යැයි ඔහු […]

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Will Free Trade (FTAs) Lead to a ‘Powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part III

Friday, March 17th, 2017

by C. R. de Silva, C.C.S. (Retd).Courtesy The Island March 17, 2017, 9:42 pm Small & Medium Enterprises (SMEs) – Low Export Viability under FTAs. In Sri Lanka, approximately 99.8% of domestic sales are the product of small business concerns, and 83% of these are from medium-sized enterprises, both together accounting for more than 50% […]

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Will FTAs help build a ‘powerful’ Sri Lanka? THE IMF IN SRI LANKA – Part III

Thursday, March 16th, 2017

by C. R. de Silva, C.C.S. (Retd.) (The writer who was a member of the former C.C.S., was later a senior professional at World Bank Headquarters for over 30 years). March 13, 2017, 8:21 pm The economic philosophy propagated by the International Monetary Fund (IMF) to any and all developing countries which are unfortunate enough to […]

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‘Country suffers Rs. 7 bn loss due to MPs’duty free vehicle racket

Thursday, March 16th, 2017

By Chitra Weeraratne and Shamindra Ferdinando Courtesy The Island March 16, 2017, 10:38 pm The Supreme Court was yesterday informed that members of Parliament representing all political parties had caused losses amounting to over Rs 7 bn by selling duty free vehicle permits without proper legal sanction. Among them are members of the yahapalana administration, the […]

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Disaster Politics and Political Disasters

Sunday, March 12th, 2017

by Tisaranee Gunasekara March 11, 2017, 7:02 pm Close to one million – that is the number of drought-affected Lankans in immediate need of food assistance, according to an assessment carried out jointly by the government and the UN. Of these, 80,000 men, women and children are in need ‘urgent life-saving support’.ii The numbers of […]

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Bonds of the crooked and privileged

Saturday, March 11th, 2017

By Lucien Rajakarunanayake March 10, 2017, 9:25 pm Haven’t you heard enough of these bonds? Depends on what bonds, you are talking about; there could be some bonds one may like. I mean the bonds we hear and read about every day – these big money bonds. You mean the Central Bank and Treasury bond […]

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රනිල්ගේ පච හැලීම- රටේ සමස්ථ ණය ඇ.ඩොලර් බිලියන 15000 ක් බව කියයි.. මේ රජය පැමිණ ගත් 20% ක් ණයත් සමඟ තවම ඇ.ඩොලර් බිලියන 64 යි..

Friday, March 10th, 2017

ලංකා සී නිවුස් ඇමරිකා එක්සත් ජනපදය ලෝකයේ අංක 1  ආර්ථික හිමි රටවන අතර එහි සමස්ථ වාර්ෂික දල දේශිය නිෂ්පාදනය ඇ.ඩොලර් ට්‍රිලියන 18.56 කි එනම් ඩොලර් බිලියන 18560කි  2 වෙනි ස්ථානය චීනයට හිමිවේ. එය ඇ.ඩොලර් බිලියන 11391කි තුන්වන ස්ථානය හිමිවන්නේ  ජපානයටයි. ඒ ඇ. ඩොලර් බිලියන  4730කි,  එමෙන්ම ඉන්දියාවේ වාර්ෂික දල දේශිය නිෂ්පාදනය ඇ. ඩොලර් බිලියන  2250 […]

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