by Prof. Aruna Shanthaarchch (Department of Economics and Statistics Sabaragamuwa University of Sri Lanka) Who are the Middle Class? The term, middle class, has been defined in a variety of ways. Historically, it was a social class characterised by intellectuals, who were neither capitalists nor workers. They were the well-educated service providers and small-scale entrepreneurs, […]

Text and picture by PRIYAN DE SILVA   Executive Director of the Centre of Policy Alternatives (CPA)  Dr. Paikiasothy Saravanamuttu told journalists and Civil Society Activists at a workshop held in Kandy that China’s unwillingness to accept the proposed debt restructuring might deprive Sri Lanka of the US$ 2.9 billion credit facility, from the IMF. The staff-level agreement is to […]

* SriLankan Airlines, Sri Lanka Telecom, Waters Edge and Sri Lanka Insurance to be sold to strengthen foreign reserves * Presidential Commissions to review public service and tax * BOI and EDB to be merged * ETF law to be reformed * Reforms to change economy going beyond IMF recommendations * Insurance coverage for Private […]

By Shamindra Ferdinando Auditor General W.P.C. Wickremaratne on Sunday (13) said that it was the responsibility of relevant political authorities to act on the findings/queries made by the National Audit Office.  The AG said so in response to The Island query with regard to the appointment of retired Judicial Officer Lalith Ekanayake, by North Western Province Governor […]

Governor of Central Bank of Sri Lanka (CBSL) says the Budget 2023 is imperative to stabilize the economy while managing the current crisis situation.

By Shamindra Ferdinando Samagi Jana Balaveyaga (SJB) has alleged that the Attorney General’s Department is delaying the release of information, pertaining to the withdrawal of indictments in a number of controversial cases, after the Nov. 2019 presidential election. SJB lawmaker Mujibur Rahuman yesterday (13) told The Island that he had submitted an application, dated November 01, 2021, to […...

By Norman Palihawadane Police Spokesperson SSP Nihal Thalduwa yesterday said Police Headquarters had commenced a special departmental-level investigation into a video that went viral on social media, showing a senior police officer and his team, harassing female protesters and women police officers at Gorakana, in Panadura, on Saturday (12). SSP Thalduwa said that following the […]

By Normaan Palihawadane Colombo Archbishop Malcolm Cardinal Ranjith has called on Catholic lawyers to remain politically independent as the country is in crisis.Delivering the homily at the Annual Lawyers Red Mass last week at the All Saints Church, in Borella, the Cardinal said that Catholic lawyers had to uphold honesty. “Fear only God as you […]

India’s top court Friday ordered the release of six people convicted over the assassination of former prime minister Rajiv Gandhi.Gandhi was 46 when he was killed by a woman suicide bomber at an election rally in the southern state of Tamil Nadu in 1991.The assassination was carried out by the Liberation Tigers of Tamil Eelam […]

By Amal Jayasinghe Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country’s airline top of the list for reform.With nearly 6,000 staff, SriLankan Airlines is the biggest and most expensive of the cash-haemorrhaging, sclerotic […]

By MAHADIYA HAMZA ECONOMYNEXT – Sri Lanka’s tourism revival is facing a challenge in bringing in more high spending foreign visitors due to increasing protests locally while monetary tightening, impacts of Russian invasion into Ukraine, and rising inflation globally.The move is likely to slow the island nation’s recovery from the unprecedented economic crisis as it is […]

By Rathindra Kuruwita Indian investments in some strategic locations in Sri Lanka could pose a serious national security threat, Education Secretary of the Frontline Socialist Party (FSP), Pubudu Jayagoda says.Jayagoda added that President Ranil Wickremesinghe, who does not have a mandate to be the President, had initiated a number of economic policy and legal amendments […]

By Saman Indrajith JVP has called on youth to join its campaign to make Sri Lanka a better place to live in.Addressing the JVP-led NPP’s electorate organisation at Ambalantota recently, party leader Anura Kumara Dissanayake said that the youth had to fight for their righst instead of leaving the country. “It could be done. You […]

Senior lawyer S. A. Cader sayas that it was the responsibility of Parliament to enact legislation to enable the country to seek UN support for the recovery of stolen public assets.Cader, senior partner at Julius & Creasy emphasised the urgent need to address the issue at hand as part of the overall efforts meant to […]