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Tread Carefully
The International Monetary Fund says Sri Lanka will be hard pressed to keep its country reserves at pre-tsunami levels, as a heavy import bill will negate an inflow of dollars.The International Monetary Fund says Sri Lanka will be hard pressed to keep its country reserves at pre-tsunami levels, as a heavy import bill will negate […]
Dogged by Trouble
The Ministry of Health says the risk of rabies has increased because of the large number of displaced dogs in tsunami-affected areas.The Ministry of Health says the risk of rabies has increased because of the large number of displaced dogs in tsunami-affected areas. “There are no confirmed cases of rabies but the risk has of […]
Musical Chairs
About 228 directors presently sitting on boards of Sri Lankan commercial and specialised banks may soon be out of job, if they fail to pass the Central Bank’s upcoming litmus test. About 228 directors presently sitting on boards of Sri Lankan commercial and specialised banks may soon be out of job, if they fail to […]
Sri Lanka begins tsunami rebuilding amid fresh peace moves
Sri Lanka launched an ambitious 3.5-billion dollar tsunami recovery plan Wednesday despite warnings from the International Monetary Fund of more economic troubles following the disaster.Sri Lanka launched an ambitious 3.5-billion dollar tsunami recovery plan Wednesday despite warnings from the International Monetary Fund of more economic troubles following the disaster. President Chandrika Kumaratunga urged unity in […]
Money Galore
The World Bank’s private sector financing arm is offering cash grants through its business investments in Sri Lanka who have undertaken post-tsunami reconstruction work.The World Bank’s private sector financing arm is offering cash grants through its business investments in Sri Lanka who have undertaken post-tsunami reconstruction work. Sanjiva Senanayake, the International Financial Corp’s Resident Representative […]
Confused Comrades
The JVP wants all tsunami-affected businesses released from their current and previous tax obligations. The JVP wants all tsunami-affected businesses released from their current and previous tax obligations. The government’s main coalition partner, the JVP is calling for blanket tax concessions for tsunami-affected businesses – when the government says no tax breaks. In a statement […]
Credit Slip
Sri Lanka’s tsunami tragedy will affect an estimate Rs. 20 billion in loans given out by commercial banks to individuals and business in the ravaged coastal belt.Sri Lanka’s tsunami tragedy will affect an estimate Rs. 20 billion in loans given out by commercial banks to individuals and business in the ravaged coastal belt. A fraction […]
Building Block
The government has finally approved coastal building regulations, under the Urban Development Authority(UDA), for tsunami-damaged parts of the country.The government has finally approved coastal building regulations, under the Urban Development Authority(UDA), for tsunami-damaged parts of the country. Under latest guidelines no new construction is allowed up to 100m in the western coast and 200m in […]
Shelving Plans
Donors say funds hang in the balance, if the government shelves long term plans such as electricity reforms lined up this year, as tsunami re-building takes centre stage.Donors say funds hang in the balance, if the government shelves long term plans such as electricity reforms lined up this year, as tsunami re-building takes centre stage. […]
Tsunami Act
Sri Lanka is to arm itself with tough emergency laws before a major post-tsunami reconstruction effort which has secured unprecedented international financial backing, officials said. Sri Lanka is to arm itself with tough emergency laws before a major post-tsunami reconstruction effort which has secured unprecedented international financial backing, officials said. The laws proposed by President […]