Shirajiv Sirimane

Hair and beauty industry faces double blow

The hair and beauty industry which was severely battered due to the C-19 pandemic and health restrictions has received another deadly blow due to the import restrictions. The Association of the...

‘SL only country in the world to have unemployed graduates’

Sri Lanka is the only country in the world where there are no employment opportunities for graduates, said Past President Organization of Professional Associations (OPA) Dr...
Indian investors eye wind power in SL

Indian investors are keen on setting up wind power generation projects in Sri Lanka, said Vinod K Jacob, Deputy High Commissioner for India. This is in addition to its...
“Last chance for reforms and moving economy to new dimension”

This is the last chance Sri Lanka has been given by the International Monetary Fund (IMF) and donor community to implement reforms and take the country’s economy to a new...
Inflation to peak now, then decline - Governor

‘Sri Lanka’s inflation would soon reach its peak and will start climbing down towards the latter part of this year or early 2023, Central Bank of Sri Lanka (CBSL) Governor Dr...

JEDB turns tables from Rs 2.1 bn loss to Rs 56 mn profit

Government-owned Janatha Estates Development Board” (JEDB) which was making over Rs. 2.1 billion loss five years ago has made an amazing turn around and made a profit of Rs. 56 million up to August...
Lotus Tower to blossom with Rs. 3 bn projected annual revenue

The new management of South Asia’s iconic landmark, Lotus Tower (Nelum Kuluna) which will be opened to the public from today (15) is to generate Rs.1.3 billion annually to the national coffers from...
‘Think out of the box to upscale export revenue to USD 1.8 bn’

Industry veteran and Chairman of the Sri Lankan Tea Board Niraj De Mel lashed out at the Tea Research Institute (TRI) and said that they should be more active and think fresh to overcome challenges...
Lankan plantation sector to net in USD 3.8 bn in 2022

The plantation sector is looking at tapping an export revenue in the excess of USD 3.8 billion for 2022 the Minister of Plantation Dr Ramesh Pathirana said at the Tea Exporters Association AGM on...
‘Capitalize on the current geopolitics and covert Lanka into int’l logistic hub’

Sri Lanka should capitalize on the current geopolitics and covert Sri Lanka as an international logistic hub said Group CEO Hemas Holdings PLC Kasthuri Wilson.She said that the Ukraine-Russian war,...
Excise Department to muster Rs. 180 bn from liquor sales

The Department of Excise will net in a Rs. 180 billion revenue to the government treasury for 2022 said Commissioner General of Excise J. Gunasiri.He said that despite the C-19 pandemic the...
“Write off loans taken for unproductive development projects”

Sri Lanka while looking at debt servicing should more seriously talk to donors in writing off some of the loans that were taken for unproductive development projects.Several associations which...
ADB to provide Rs.52 bn financial assistance

The Asian Development Bank (ADB) has agreed to provide Rs. 52 billion (USD 145 million) loan to provide assistance to Samurdhi recipients, Elders, CKDU patients and differently able persons for the...
IMF confirms Extended Fund Facility of US$ 2.9 bn

The visiting International Monetary Fund team yesterday confirmed that IMF staff and the Sri Lankan authorities have reached a staff-level agreement to support Sri Lanka’s economic policies with a 48...
Step up structural reforms - IMF

The International Monetary Fund (IMF) pledged to support Sri Lanka’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of around US$ 2.9 billion and they predicted...
Sustaining staff, lack of skilled human capital major problem for tourism sector

The biggest problems the tourism sector (TS) now faces is to sustain the current staff and the lack of skilled human capital, said the newly elected President of Institute of Hospitality (IH Sri...
“Short-term, long-term proposals can take country to the next level”

Chambers and Businessmen and Research institutes opined that the interim budget presented by President Ranil Wickremesinghe has very commendable short-term and long-term proposals that can take...
SriLankan Airlines, Ground Handling & Catering to go under the hammer

The debt ridden SriLankan Airlines will be restricted along with Srilankan Catering and SriLankan Airlines Ground Handling, said Minister of Aviation Nimal Siripala De Silva yesterday.He said that 49...
“Sharp decline in money remittance via informal channels”

Foreign remittances that came to Sri Lanka via informal channels like Hawala and Undiyal are fast reducing due to a series of productive steps that were taken by the Central Bank and the government...
Not happy with moratorium implementation structure -Harin

The tourism sector as well as the Minister of Tourism were not happy with the manner in which the debt moratoria is being implemented and this aspect should be relooked. Minister of Lands and Tourism...