Image Courtesy of The Week “Then take us for Gods, as is proper and fit…” Aristophanes (The Birds)  A pandemic with no end in sight, an economy that is unravelling, a fiscal abyss,...

This country’s history is repeating itself with deadly accuracy. Last week Gotabaya Rajapaksa reiterated what Sinhalese leaders have been saying since the parting of ways with the Tamils in 1958. In an interview with the BBC on Monday (May12) Rajapaksa was asked about ‘a recent local government reshuffle in the north which has seen some ...

Dhaka (The Daily Star/ANN) - Bangladesh stands second after Sri Lanka in financial inclusion indicators among the South Asian countries, according to a World Bank report released yesterday.

The exchange rate (ER) last week had the dubious distinction of making a steep dive to hit Rs. 130 by being depreciated by nearly Rs. 5 against the US dollar ($) in a week in interbank trading on the back of import demand, but since then has seemingly been tenuously holding on to those levels ...

On Wednesday a local daily reported that India is persuading Sri Lanka to allocate oil exploration blocks bordering the waters that separate them as it considers the location strategically important to allow companies from other nations to base themselves in this area for oil drilling. The article goes on to say that New Delhi expects ...

A dramatic global theatre jam   By Nirasha Piyawadani Pinnawala Adramatist who has rendered yeoman service to the promotion of local stage drama, M. Shafeer, has a cherished wish and that is to be able to hold an international drama festival in Sri Lanka. Our protagonist M. Safeer, strove to make this dream a reality and thanks to his untiring efforts the first ever international drama festival in...

India take on Sri Lanka in the second ODI of the Commonwealth Bank series at Perth. The two sides have had a poor run of form going for them leading up to this game and it will be a match between teams wanting to end that. The India v Sri Lanka 2 nd ODI can be watched live on either Channel Nine in Australia or Star Cricket The Indians have been on a losing streak on this tour so far, but all ...

It will not draw last tranche of US$800mil due to high interest rate by the global lender Sri Lanka, which is locked in a row with the International Monetary Fund over its exchange rate policy, will not draw the remaining US$800mil of a US$2.6bil loan from the global lender due to the high interest rate, the ...

By Lasith Fernando The youngest member of the so called Holy Trinity of British rock bands, alongside The Beatles and The Rolling Stones, The Who entered the British rock scene in the mid sixties. Formed in 1964 by guitarist Pete Townshend alongside singer Roger Daltrey, bassist John Entwistle and drummer Doug Sandon, The Who battled ...

By Elmo LeonardVandalism on the abandoned giant, four-storeyed former Star Toffee manufacturing complex near the Kelanitissa Power House, Colombo 14 led to its collapse last week. Since the building came down injuring three people, dozens of unidentified men are engaged in breaking up and moving away what is left of the massive fallen structure. Soon there will be nothing left as the removal of ma...

BERNE (Reuters), Monday - Swiss National Bank Chairman Philipp Hildebrand resigned with immediate effect on Monday, saying he could not prove he had been unaware of a currency trade made by his wife and wanted to protect the integrity of the central bank. Hildebrand's decision to relinquish one of the world's top central banking jobs after just two years came as Swiss parliamentarians met to dis...

Lessons from China or Tunisia? Just few months ago, in response to a public outcry for more accountability and transparency in the use of public funds, the State Council, which is the Cabinet in the Chinese government, directed 98 public institutions including ministries to make public their budgets and expenditure on official receptions, official overseas visits and ...

Piracy The danger of the possibility of oil being pirated from Sri Lanka’s side by India was highlighted by an off shore oil consultant at a seminar on Wednesday. Dr. Amaranath S. Kumara, Consultant, Scandpower AS Norway said that he couldn’t understand why the contract to quest for oil in Sri Lanka was given to ...

Sri Lanka’s Central Bank today came forward to defend the newly enacted “Expropriation Law” which has come under fire from many quarters including International Rating Agencies Fitch and Moody’s. Central Bank issuing a statement said the new act which resulted in Government taking over 37 privately run firms, is only aimed at ensuring the productive use ...

The Central Bank says the main purpose of the Revival of Underperforming Enterprises and Underutilized Assets Act is to revive thirty seven (37) identified underperforming enterprises or underutilized assets where the land belongs to the Government or a Government Agency. A statement by the Central Bank issued today (Thursday) said that that the Act is ...

By Richard Browne Dilshan’s honeymoon as brief as it was is well and truly over. Seemingly hindered by having two superstar ex captains swirling around him, a distinct lack of help off the pitch with a dearth of adequate back room staff and a horrible loss of form on it has turned what the bookies ...

  The Symphony Orchestra’s Young Soloists’ concert will be held on July 30 at the Ladies’ College Hall.  This concert, conducted by Eshantha Peiris, features outstanding young violinist Mandhira de Saram performing Mozart’s Violin Concerto number five. The SOSL’s Young Soloists’ concert is once again sponsored by HSBC. The “World’s Local Bank” has been living ...

Sri Lanka’s international sovereign bond for US Dollars one billion at an interest rate of 6.25% oversubscribed more than 7 times, the Central Bank Governor Ajith Nivard Cabraal told Ada Derana.

This is the Victory Month which commemorates the pride of re-establishing humanity after winning the second freedom struggle of the nation. Terrosim played havoc in almost all parts of the country. A brutal terrorist leader produced human bombs on behalf of a dream that would not become a reality. Innocent civilians became victims. A fence ...

Moody’s Investors Service, a rating agency has upgraded outlook of Sri Lanka B1 sovereign rating to Positive from Stable, Central Bank Govenor Ajit Nivard Cabraal told Ada Derana. .

Many State Banks join in building houses through Janasevana. An agreement to provide financial assistance to the tune of 1.5 billion rupees for the Janasevana Upahara Housing Loan Programme has been signed. The inking of the agreement took place at Temple Trees under the patronage of President Rajapaksa. The Peoples Bank, the Bank of Ceylon ...

Today, we are going to relate to our readers a story that in a nutshell is Sri Lanka. It’s a story of a place called Mouseland. Mouseland is a place where all the little mice lived and died and they lived much as you and I do. They even had a clock tower. As the numbers grew ...

Parliamentrians claim that Bank Ki-moon’s baseless Expert Panel Report is a futile attempt made to paralyse the country’s development path.   Minister Sarath Amunugama said that the country at this juncture should protect the war heroes. The Expert Panel had been appointed surpassing the international laws and to seek its recommendations. It is very clear ...

Sri Lanka has recorded an economic growth rate of 8% for the year 2010 the second highest since independence, Central Bank Governor Ajith Nivard Cabraal told Ada Derana a short while ago. The Central Bank report for 2010 is due to be released this morning.