Columnists

 Prime Minister and Finance Minister Mahinda Rajapaksa presenting the Budget 2020 in ParliamentFinance Ministry lists out Budget proposals to be rolled out Preferential 3% and 7% housing loans for public sector  Solar power loans at 4% interest for public sector and SMEs  $ 100 m worth of working capital loans for COVID-hit SMEs  Rs. 500,000 for young entrepreneurs at 4% … [Read more...] about Government unveils Budget loan bonanza

 Claims Sri Lanka’s debt on unsustainable path but Government appears to be in denial Says no credible strategy from Government to achieve sustained debt repayment capacity Opines Sri Lanka debt restructuring may not happen until 2022 Remains cautious on Sri Lanka bonds as road to restructuring is long Doesn’t recommend investors getting involved in Sri Lanka bonds given … [Read more...] about Denial is not a strategy, Citi cautions Sri Lanka

PUCSL is the country's power regulator  In a welcome move abandons move to scrap regulatory body Public Utilities Commission  To appoint new Commissioners to replace those who stepped down  But stakeholders say forcefully removing Commissioners reduces PUCSL independence Energy experts concerned new Commissioners will rubber-stamp controversial projects  By Uditha … [Read more...] about Govt. pulls back axe on PUCSL

 All five commissioners decide to step down following call from Treasury Secy. But Energy Minister says PUCSL can only be scrapped through parliamentary Act  Cabinet discusses regulator functions in detail  Stakeholders worry of adverse repercussions as Govt. speeds ahead  By Uditha Jayasinghe All five commissioners of the Public Utilities Commission of Sri Lanka (PUCSL) … [Read more...] about PUCSL commissioners resign en masse

 Combined earnings of listed companies up 53% to Rs. 73.7 b in 3Q of 2020 from a year ago Three month period between July-September produces best earnings since late 2018 Massive 287% rise as against quarter ended June which was impacted by first wave shutdown Performance reflects quick rebound and private sector resilience  Earnings of listed companies in the third … [Read more...] about Corporate earnings swell post-COVID first wave

Trade Minister Bandula Gunawardana – Pic by Upul Abayasekara Accuses them of misleading Parliament, Ministers Charges ‘cabal’ of senior officials of hiding behind technical jargon to cover up misdeeds Says Ministers have become mere rubber stamps and have to give Parliament approval to whatever is presented by officials Says this has been practice irrespective of who is … [Read more...] about Bandula blasts Fin.Min. officials | Daily FT

 Opposition Leader Sajith PremadasaSays policies medieval, restrictive and akin to North Korea Says Govt. trying to disengage with international trade Expresses alarm at EU concerns over import restrictions Queries if Govt. has thought out repercussions if EU rejects import restriction policy Says SL only country in world to reject international ratings Accuses Govt. of … [Read more...] about Opp. Leader slams Govt. handling of economy

Real estate and property industry new kid invests Rs. 1.43 b to buy 51% stake held by Renuka Capital and 4 others Triggers SEC Takeovers Code to acquire balance minority shareholding at Rs. 30.20 per share or another Rs. 1.4 b; UDA owns near 45% stake Rs. 11.6 b-assets-rich LRI says move part of goal to become foremost property company To transform 11-storey building in … [Read more...] about LRI gets bullish with Rs. 2.8 b takeover move of Unity Plaza owner On’ally Holdings

Prime Minister Mahinda Rajapaksa Says time is right to move SL towards growth Pledges public sector and policy support Recaps COVID-19 support given by Govt.  Wants biz community to aim for FDI  Coordination between sectors needed for new and innovative policy measures  Invites biz community to convert SL into hive of activity By Uditha Jayasinghe Economic and growth … [Read more...] about Growth challenges need joint management: MR