Monthly Archives: January 2016

Mystery investor to defend rupee

Mystery investor to defend rupee

An unidentified investor has promised to park $1 billion in dollar deposits in Sri Lanka to help the island nation defend its currency, the finance minister told Reuters, in an unusual move that highlights the country’s precarious finances. Finance Minister Ravi Karunanayake declined to reveal …

Online retail is booming

Online retail is booming

Last year, Alibaba’s Jack Ma remarked that he believed online shopping would soon become as natural as breathing. “I hope 15 years later, people forget about ecommerce – because they think it’s like electricity,” he said in an interview at Davos. If his prediction is …

Restructure exports for growth

Restructure exports for growth

The Economic Forum has set the stage for international and national experts and business tycoons to discuss and build a dialogue on economic development trends. Organised by the Open Society Foundation, the Economic Forum was based on a study by the Harvard University’s Centre for …

Give up “majoritarianism, Tamil racism and Minorityism”.

Give up “majoritarianism, Tamil racism and Minorityism”.

Gopalkrishna Gandhi, a former High Commissioner of India in Sri Lanka,  has urged Lankan leaders, not to spurn and disappoint  moderate Tamil leaders who, braving threats of elimination from Tamil extremists, have advocated a united Lanka in which the Tamil minority can live alongside other …

Will the plantation sector survive?

Will the plantation sector survive?

Addressing a gathering in Pussellawa the minister of Higher Education and Highways Lakshman Kiriella said that the plantation companies can well afford to pay the Rs. 1,000 a day wage that the plantation workers have been asking for, and that the companies that refuse to …

Can a new constitution heal Sri Lanka’s wounds?

Can a new constitution heal Sri Lanka’s wounds?

President Maithripala Sirisena has pledged to introduce sweeping constitutional reforms aimed at preventing his country from returning to ethnic war. He told parliament he wants a new statute to guarantee the country will not see a repeat of the civil war that ended in 2009. …

President vows reforms to prevent ethnic war

President vows reforms to prevent ethnic war

Sri Lanka’s President Maithripala Sirisena marked his first year in office on Saturday with a pledge to introduce sweeping constitutional reforms aimed at preventing the island returning to ethnic war. Sirisena told parliament he wanted a new statute to guarantee the country will not see …

New constitution to devolve power

New constitution to devolve power

Sri Lanka’s new government on Saturday presented its plan for a new constitution aimed at devolving power and preventing the sort of ethnic tensions that led to a long and bitter civil war that ended in 2009. The move comes as reformist President Maithripala Sirisena’s …

Could farmers actually benefit from El Niño?

Could farmers actually benefit from El Niño?

Rice farmer Weerasinghearchchilage Darmarathana is used to periodic flooding in his low-lying village of Galella in central Sri Lanka. The 60-year-old has lived all his life on the flood plains of the country’s longest river, the Mahaweli, in Polonnaruwa District, some 250 km (155.34 miles) …

Soros is wrong: This isn’t a crisis, just a bad headache

Soros is wrong: This isn’t a crisis, just a bad headache

Commodity prices are collapsing. World trade volume is plummeting (down 12% year on year, as bad as the 1981 recession). Growth is minimal in the US, Europe and Japan and negative in Brazil and Russia. China is slowing. Is that a crisis like 2008, as George …