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Power struggle: Sri Lanka president cuts PM’s duties
Power struggle: Sri Lanka president cuts PM’s duties

Sirisena took away the central bank, the policymaking National Operations Room and several other institutions from the control of Wickremesinghe, who had held them since coming to power in January 2015. The changes were published in a government gazette notice issued Wednesday which transferred the responsibilities to Finance Minister Mangala Samaraweera. There…

SCMP - Mar 29 13:15 GMT - more ... [ Tags: Politics, History, Economy ]

Related:
  - Sri Lanka's UNP backs Wickremesinghe in no-confidence motion - BS
Trump re-authorises GSP for SL, other countries
Trump re-authorises GSP for SL, other countries

US President Donald Trump has re-authorised the Generalized System of Preferences (GSP) program, which expired on December 31, 2017, for the GSP beneficiary countries including Sri Lanka. Following the expiry, the GSP eligible imports to the US from Sri Lanka and other GSP beneficiary countries were subjected to non-preferential duties from January 1, 2018. In a…

Daily Mirror - Mar 29 13:09 GMT - more ... [ Tags: USA, Economy, WarCrimes ]

Gary Anandasangaree
  • WARNING signs for Sri Lanka

    WARNING signs for Sri Lanka

    No, this article is not about the political or economic situation in our country. There are many indicators that contribute toward forecasting the success or demise of a nation. They can act as warning signs, that if heeded can make the difference between life and death. I’m sorry, I don’t mean to sound grim. On the contrary I write this to motivate us to get off…

    News First - May 09 18:36 GMT - more ...
    [ Tags: History, SriLanka, Economy ]

  • Sri Lankan shares end higher; foreigners sell

    Sri Lankan shares end higher; foreigners sell

    Sri Lankan shares ended slightly firmer on Wednesday led by blue-chip stocks in thin trade, while foreign selling boosted turnover with most local investors on leave ahead of the Sinhala-Tamil New Year this week, brokers said. Foreign selling accounted for 80 percent of the day’s turnover of 553 million rupees ($3.55 million), less than half of this year’s…

    Reuters - Apr 11 13:02 GMT - more ...
    [ Tags: SriLanka, Economy, WarCrimes ]

    Related:
      - Sri Lanka’s debt burden is higher than Ethiopia, Uganda & Ghana - LBO
  • Sri Lanka's reluctant saviour

    Sri Lanka\'s reluctant saviour

    They don’t make them like Indrajit Coomaraswamy any more. The calm and self-effacing governor of the Central Bank of Sri Lanka spent most of his career behind the scenes, working diligently to give strength and structure to a fragile frontier market. An economist by training, he spent more than 40 years bouncing around the upper echelons of Sri Lanka’s civil…

    Euro Money - Mar 26 14:30 GMT - more ...
    [ Tags: SriLanka, Economy, WarCrimes ]

  • Sri Lanka Caught in China’s Debt Trap

    Sri Lanka Caught in China’s Debt Trap

    Sri Lanka celebrated 70 years of independence on February 4, but China’s economic presence is leading some to question the extent of that independence. Between 2005 and 2017, Beijing invested $15 billion in the island nation’s infrastructure projects. Regional rivals like India see these investments as Chinese economic colonialism.

    theTrumpet - Feb 12 20:10 GMT - more ...
    [ Tags: World, Economy, China ]

  • Sri Lanka eyeing longer talks with China on free trade agreement

    Sri Lanka wants a longer-time period to negotiate a free trade agreement with China as it is concerned about the economic impact of a rushed deal on their small country, the Sri Lankan ambassador said on Sunday. There has been rising concern in the South Asian nation about Chinese investment, a key part of Beijing's Belt and Road initiative to create a modern-day…

    Reuters - Feb 07 14:36 GMT - more ...
    [ Tags: India, Economy, China ]

  • Does Sri Lanka’s 'Look East’ Strategy to Court ASEAN Make Sense?

    Does Sri Lanka’s \'Look East’ Strategy to Court ASEAN Make Sense?

    Two Southeast Asian leaders, Singapore’s Prime Minister Lee Hsieng Loong and Indonesia’s President Joko Widodo, visited Sri Lanka during the week ending January 26. During Lee’s visit (from January 22 to 24) Sri Lanka signed a Free Trade Agreement (FTA) with Singapore, described as being the first ever Colombo has inked with a Southeast Asian country. The Sri…

    The Diplomat - Jan 31 23:08 GMT - more ...
    [ Tags: World, Economy ]

  • Sri Lanka’s Central Bank issues commemorative note to mark 70th Independence

    Sri Lanka’s Central Bank issues commemorative note to mark 70th Independence

    Sri Lanka’s Central Bank has issued a special currency note in the denomination of Rs. 1000 to mark the 70th Independence Celebration in the country on Feb 4. This is the 4th commemorative note that was issued by the Central Bank. A quantity of 5 million currency notes will be issued. The commemorative currency note will be issued to circulation through…

    NewsIn - Jan 31 14:26 GMT - more ...
    [ Tags: Colombo, SriLanka, Economy ]

  • Sri Lanka rupee edges down on importer dollar demand

    The Sri Lankan rupee closed slightly weaker on Friday as dollar demand from importers and banks surpassed mild selling of the U.S. currency by exporters, dealers said. The spot rupee ended at 153.90/154.00 per dollar, compared with Thursday’s close of 153.85/95. “The demand (for dollars) was there from importers and some banks to settle foreigners who are…

    Reuters - Jan 19 17:15 GMT - more ...
    [ Tags: Colombo, SriLanka, Economy ]

  • Rising mortgage rates unlikely to slow down hot Toronto housing market

    Rising mortgage rates unlikely to slow down hot Toronto housing market

    A booming Canadian economy has prompted the Bank of Canada to hike its lending rate a quarter of a point for the third time since last summer. In the near-term, it will likely mean some belt-tightening among those with variable rate mortgages and lines of credit, and with more increases expected, some consumers will be scrimping further as the year goes on. But…

    Toronto Star - Jan 18 22:08 GMT - more ...
    [ Tags: Canada, Economy ]

  • Sultan of Johor invests in pharmaceutical manufacturing zone in Sri Lanka

    Sultan of Johor invests in pharmaceutical manufacturing zone in Sri Lanka

    The Sultan of Johor has teamed up with Malaysian entrepreneur Patrick Lim Soo Kit to build an industrial zone for pharmaceutical manufacturers in Sri Lanka. Sultan Ibrahim Sultan Iskandar and Mr Lim, known in Malaysia for his property development company Equine Capital, are principals of Pharma Zone (Pvt) Ltd, a company approved by the Sri Lankan Board of…

    Straits Times - Jan 09 15:12 GMT - more ...
    [ Tags: World, Economy, WarCrimes ]

  • US Congress decides not to re-authorize GSP

    US Congress decides not to re-authorize GSP

    The last time Sri Lanka had the US GSP renewed was on 29 June 2015, by former US President Barack Obama, almost two years after it had expired. According to the Institute for Policy Studies (IPS), “There have been many renewals (six so far since year 2000)” but this would be the ninth time in a period of 32 years that the scheme expired without being renewed. …

    CDN - Dec 29 14:19 GMT - more ...
    [ Tags: SriLanka, Economy, WarCrimes ]

    Related:
      - United States' GSP programme to expire in Dec; Lanka and other beneficiary countries to be subject to non preferential duty - Sunday Times
      - Generalized System of Preferences Program Expires on - US Embassy - Colombo
  • Foreign experts to fight bribes, corruption

    Foreign experts to fight bribes, corruption

    The Government was mulling obtaining the assistance of external experts to carry out investigations on corruption, Minister of Law and Order Sagala Ratnayake said over the weekend. He said that the assistance of external experts might be needed to carry out investigations on corruption. “There are areas where our investigators lack expertise, and they have to…

    Daily Mirror - Dec 11 14:48 GMT - more ...
    [ Tags: History, SriLanka, Economy ]

  • Sri Lanka fuel shortage to end on Nov. 9 - oil minister

    Sri Lanka fuel shortage to end on Nov. 9 - oil minister

    Sri Lanka’s fuel shortage will end on Nov. 9, Petroleum Minister Arjuna Ranatunga said on Monday, as state-run oil retailer Ceylon Petroleum Corporation (CPC) and Lanka IOC traded blame charges over the shortage. Thousands of Sri Lankan motorists formed long queues for fuel for a fourth straight day on Monday after CPC limited the supply last week following a…

    Reuters - Nov 07 14:12 GMT - more ...
    [ Tags: Economy ]

  • India takes on China at another battlefront: A Sri Lankan airport

    India takes on China at another battlefront: A Sri Lankan airport

    The Doklam conflict between India and China amply highlighted the fight between the two countries for supremacy in South Asia. India is strongly asserting against China which is trying to build strategic assets in the garb of infrastructure projects all around India. It is the continuation of the old Chinese 'String of Pearls' policy that aims at ring-fencing India.…

    Economic Times - Oct 16 14:10 GMT - more ...
    [ Tags: India, Economy, China ]

  • Sri Lanka rejects Chinese request for local fuel sales

    Sri Lanka rejects Chinese request for local fuel sales

    Sri Lanka has blocked a proposal by Chinese firms bidding to build the island’s biggest oil refinery to sell fuel locally, fearing a threat to domestic firms that dominate the small but growing market. The veto is the latest in a tussle over Chinese investments in Hambantota, a southern town near an important shipping route, where China controls the sea port and…

    Reuters - Oct 04 14:46 GMT - more ...
    [ Tags: Economy, China ]

  • Jaffna yet to over come trauma of war

    Jaffna yet to over come trauma of war

    The primary vocation of the people of Jaffna, fishing, is also in a confusing state. The traditional fishermen are finding it a tough proposition to survive on fishing. Most of the sea sides and beaches are under control of the Army. The government needs to make a huge investment in the northern province. Incidentally, the flow of foreign investment has not been…

    Millennium Post - Sep 25 14:15 GMT - more ...
    [ Tags: Jaffna, World, Economy ]

  • Sri Lankan deputy Minister sacked

    Sri Lankan deputy Minister sacked

    Sri Lankan President Maithripala Sirisena on Tuesday sacked his deputy Tourism Minister for allegedly defying the party leadership, the second top Minister removed from the government in less than a month. The President’s office said Arundika Fernando has been “dismissed from his portfolio with immediate effect.” Mr. Fernando, a member of Mr. Sirisena’s…

    PTI - Sep 13 10:24 GMT - more ...
    [ Tags: History, SriLanka, Economy ]

  • Corruption crippling Sri Lanka’s coalition government

    Corruption crippling Sri Lanka’s coalition government

    Marred by serious allegations of corruption and mismanagement, Sri Lanka’s much-hyped coalition government appears to have very little to celebrate as it completes two years in power. The coalition government under President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe appears to be slowly losing its grip as public confidence dwindles over its…

    Asia Times - Aug 16 17:30 GMT - more ...
    [ Tags: SriLanka, Economy, WarCrimes ]

  • Sri Lanka ICTA head Muhunthan Canagey tenders resignation

    Sri Lanka ICTA head Muhunthan Canagey tenders resignation

    Sri Lanka’s head of ICTA Muhunthan Canagey has resigned on Monday after a request from the president. “I have been asked to resign by His Excellency the President Maithripala Sirisena which was communicated to me by the Hon. Minister Harin Fernando,” he wrote in a letter to the board and staff. His resignation is over the issue of spectrum worth USD25…

    LBO - Aug 14 15:18 GMT - more ...
    [ Tags: Politics, SriLanka, Economy ]

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