By Camelia Nathaniel The country’s rising inflation rate has dealt a devastating blow to the average family while it is struggling to keep up with the sharp increases in prices, especially the increase in electricity tariffs. The recent increase in electricity tariffs has accounted for an increase of 1.96 percent in the monthly expenditure of [...]
By Faraz Shauketaly The principal opposition spokesperson on the economy, Dr Harsha De Silva (UNP MP) maintained that he is “not an economic hit man” whilst acknowledging that he is perhaps the principal outspoken Opposition Member speaking out about the economic ills the country is facing. Dr Harsha De Silva, speaking to The Sunday Leader [...]
The Board of Investment (BOI) has signed an agreement with tourism developer Katana City Developments (Pvt) Ltd to assess and plan the country’s first large scale tourism zone. The tourism zone is to be located at a 200-acre site in the Katana area near the Bandaranaike International Airport in Katunayake. The agreement entails a detailed [...]
Governmental intervention is required to assure consumer welfare and protection, Thilak Wickremasinghe, Director/CEO of the Sri Lanka Accreditation Board said. He said that the state regulatory authorities were compelled to implement regulations covering products, services and related delivery processes for market fairness, fraud prevention and consumer protection. “With the recent technology advancements in manufacturing, transportation [...]
Indian business enterprises showed keen interest in the inaugural edition of the Sri Lanka Premier League (SLPL) and bought all the seven contesting franchises on offer, even as the BCCI decided not to allow its players to participate in the Twenty20 league. Last year too the Indian Cricket Board (BCCI) had prohibited its players from [...]
Harry Jayawardena Faces Court Appearance By Faraz Shauketaly Controversial Sri Lankan businessman, Harry Jayawardena faces the prospect of appearing before magistrates in Colombo along with other Directors of Melstacorp Limited – one of many Harry Jayawardena associated companies. The billionaire businessman and others are charged by the Securities and Exchange Commission (SEC) over non-compliance in [...]
By Faraz Shauketaly After the war three years ago there was an amazing sense of euphoria in the country and the eyes of the world were on us. Various article appeared in the international press such as the New York Times, Conde Nast and many others outlining the amazing prospects of Sri Lanka. The country [...]
President of District 3220, Rotarian Doulat Kundanmal was honoured with a special award – the ‘Most Courageous President 2011-12’ at a recent ceremony in Colombo. This special award, which recognises Kundanmal’s unique contribution and determination, and is a first for Sri. Lanka Rotarians, was presented at the 22nd District Assembly by Rotary District Governor, Gehan [...]
S&P Indices and Colombo Stock Exchange (CSE) last week announced the launch of the “S&P Sri Lanka 20”, which has been jointly developed by the two institutions. The Index which is designed to represent the Sri Lankan equity market, includes the largest 20 stocks, by total market capitalization, listed on the CSE that meet minimum [...]
By Ashwin Hemmathagama – Parliament Correspondent Economists and opposition legislators recently drew parallels between some unsuccessful nations and Sri Lanka, which was recently ranked among a few other countries with an economic risk score of 8 and an industry risk score of 7, which puts it in a ‘very high risk’ assessment of economic resilience [...]
