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
Opinion and Issues
LRI gets bullish with Rs. 2.8 b takeover move of Unity Plaza owner On’ally Holdings
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
Growth challenges need joint management: MR
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
Private sector get out of comfort zone: GR
Says time for biz community to expand economic role by making “bold investments” Pledges to provide policy support including more efficient public service, reduced red tape Points out opportunities in COVID-19 challenges, Budget proposals Acknowledges debt as a “significant issue” but Govt. championing investment to reduce reliance on loans Expresses confidence in … [Read more...] about Private sector get out of comfort zone: GR
Policy synergy needed to boost SL-India growth: Sitharaman
Indian Finance and Corporate Affairs Minister says private sectors and Govts. of both countries should focus on specific policy goals Optimistic of stronger relations and investment opportunities based on Budget proposals Says SL focus on self-reliance does not deter from stronger trade India’s COVID-19 vaccine focus to help meet global demandIndia Finance and … [Read more...] about Policy synergy needed to boost SL-India growth: Sitharaman
Lack of transparency is costing the Government
The Government has now decided to appoint a committee, comprising of the Ministry Secretary and other Government officials, to ascertain the reasons behind the Mahara prison riots. The lack of an independent commission has raised the concern that the true cause of the incident may not be revealed if the Government is found to be at fault – Pic by Shehan Gunasekara “There can … [Read more...] about Lack of transparency is costing the Government
New guidelines in the offing to welcome tourists from 1 Jan.
Travel from any country permitted for minimum stay of 14 days Influx of daily travellers limited to maximum of 300 with priority for citizen repatriation All international airlines will be allowed with prior approval from COVID-19 Taskforce and CAA Permit visa for long-stay travellers, dual passport holders, resident permit holders, film tourism and sports tourism Sri … [Read more...] about New guidelines in the offing to welcome tourists from 1 Jan.
Pads pricing paradox | Daily FT
Local manufacturers who cater to over 95% of demand say recent 2021 Budget moves have zero effect on prices, dismissing criticism in social media and Opposition 15% CESS imposed on imports, but duty reduced from 30% to 15% Fiscal analysts question rationality of revenue-neutral-measure by tax advisors to the Govt. Industry says if Govt. is keen to support local … [Read more...] about Pads pricing paradox | Daily FT
Fitch downgrades SL on debt sustainability
Despite pro-growth policies outlined in Budget 2021, including for construction, Fitch Ratings yesterday downgraded Sri Lanka on growing debt repayment concerns Reduces Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC’ Main reason cited as challenging debt repayment position worsened by COVID-19 SL has to repay $ 23.2 b from 2021-2025, but reserves of … [Read more...] about Fitch downgrades SL on debt sustainability
CB doubles down on lower interest rates
Interest rate caps of 7% for mortgage-backed housing loans, lending targets to be introduced to selected sectors New measures to complement Budget proposals CB appeals to banks to continue driving down interest rates Keeps rates unchanged in last policy decision for 2020 Says AWLR and AWNLR have dropped to lowest level since Dec. 2015 Private sector credit hits high … [Read more...] about CB doubles down on lower interest rates
