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SMEs Saddled With 15-18% Interest Cost

MR’s Promised 8-12% Rate, Non Starter One of the pressing problems facing the SME sector is the high cost of finance. Sri Lanka Chamber of Small & Medium Industries (SLCSMI) President Aloy Jayawardene speaking to reporters on Wednesday alleged that though President Mahinda Rajapaksa and Central Bank of Sri Lanka (CBSL) Governor  Ajith Nivard Cabraal [...]

Promoting Tea On Eve Of Wage Hike

Going Offshore, Option A seminar on the tea industry held last week was inferred as being akin to “Admiral Horthy without a ship” by at least one of the speakers on the alleged grounds that policymakers were absent at this meeting to make decisions, though Sri Lanka Tea Board (SLTB) Chairman Ms. Janaki Kuruppu was [...]

Tea Production Down

Sri Lanka’s tea production for 2012 recorded 326.2 million kilos (Mkgs) compared to 327.2 Mkgs in the previous year, John Keells in a report said. Whilst Low Grown recorded a surplus of 4.5 Mkgs, High and Medium elevations recorded negative variances of 5.4 Mkgs and 0.297 Mkgs respectively.  Overall, Sri Lanka tea Industry performance in [...]

New skipper Mathews lifts Lankans to easy win

Sri Lanka vs Australia 1stT20 – Sydney New T20 skipper Angelo Mathews led from the front with an unbeaten 35 to help steer Sri Lanka to a comfortable five-wicket win in the opening Twenty20 international against Australia. Chasing a target of 138 in Sydney, the Lankans rarely looked troubled and shared the runs around on [...]

ER Continues To Plummet

The exchange rate (ER) week on week deteriorated by 40 Sri Lanka cents (SLc) to Rs. 127.10 in interbank spot trading against the US dollar ($) last week on the back of import pressure, while the state stayed away from the market, a source told this newspaper. The ER during the past two weeks has [...]

Top quality tennis at Queens Club tournament

The Queens Club open ranking tennis tournament which concluded on Friday produced some high quality tennis among the many contestants across all age groups and was a sign that the sport was developing quite well. The tournament also presented the Sri Lankan Davis Cup team players with the ideal match practice before their key group [...]

Over 100 Skeletons Unearthed In Matale

By Raisa Wickrematunge In Matale, the body count grows ever higher as more and more skeletons emerge out of the red earth near the Matale hospital, with over a hundred recovered, according to a judicial medical officer. But at present, how this mass gravesite came to be is still a mystery. It all started when [...]

FDI, So Near, But Yet So Far

That which is needed to give a boost to the real economy is foreign direct investments (FDI). FDI create jobs and FDI may also increase export earnings. Enhanced exports in turn may help to stabilize the exchange rate (ER), and going a step further, not only stabilising it, but even possibly strengthening it. A strong [...]

Only Hope For Democracy Is A Regime Change In The Country – Samaraweera

President has completely lost the plot Former Foreign Minister and UNP parliamentarian Mangala Samaraweera says the impeachment fiasco will give more credence to the war crimes allegations. “The way Police and the Army behaved giving cover and protection to the goon squads who went on the rampage was shocking,” he said, adding that the country [...]

Rahju: Still Discovering Himself!

By Sherwani Synon Pictures by Lalith Perera Having heard much about Rahju, his paintings and his way of life, I was enamored by it and decided to pay a visit to his humble home in Kandy during a trip to the Hill Capital. Ideally located on a peak of a mountain spreading towards wilderness, we [...]

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