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Unemployement up by 300,000 by year end if tsunami aid not used properly, ILO
Over 300,000 people in Sri Lanka will still be unemployed by the end of this year, if tsunami aid is not properly used, warns the International Labour Organisation (ILO).Over 300,000 people in Sri Lanka will still be unemployed by the end of this year, if tsunami aid is not properly used, warns the International Labour […]
Sri Lanka expects to reign in its galloping inflation in the next few months, but savers will still get a raw deal as the Central Bank fights shy to tighten monetary policy
Sri Lanka expects to reign in its galloping inflation in the next few months, but savers will still get a raw deal as the Central Bank fights shy to tighten monetary policy.Sri Lanka expects to reign in its galloping inflation in the next few months, but savers will still get a raw deal as the […]
Hayleys MGT’s credit profile slips, as it opts for a debt finance drive to expand capacity and sets aside extra cash for working capital
Hayleys MGT’s credit metrics has weakened somewhat recently, as it embarks on a debt finance drive and steps up its working capital requirements to keep pace in the quota free arena. Hayleys MGT’s credit metrics has weakened somewhat recently, as it embarks on a debt finance drive and steps up its working capital requirements to […]
Reveal All
Sri Lanka has asked all non governmental organisations who are on a drive to raise money for tsunami victims to channel the funds through a special bank account.Sri Lanka has asked all non governmental organisations who are on a drive to raise money for tsunami victims to channel the funds through a special bank account. […]
Foundation Stone
Sri Lanka signed up for US$ 75 mn World Bank assistance on Tue. to rebuild 46,000 houses in the war ravaged North & East over a four year period. Sri Lanka signed up for US$ 75 mn World Bank assistance on Tue. to rebuild 46,000 houses in the war ravaged North & East over a […]
Meeting of Minds
Two world leaders in the field of international accounting standards will be in Sri Lanka next week for a top level regional meeting to be hosted by the Institute of Chartered Accountants of Sri Lanka (ICASL), the country’s apex national accountancy body.Two world leaders in the field of international accounting standards will be in Sri […]
Rs 6 bn fertiliser subsidy to be replaced by more farmer-friendly subsidy
The Ministry of Agriculture says it will cancel the current Rs 6 bn fertiliser subsidy for a more farmer-friendly subsidy scheme this year. The Ministry of Agriculture says it will cancel the current Rs 6 bn fertiliser subsidy for a more farmer-friendly subsidy scheme this year. “The government spends Rs 6 bn on fertiliser subsidy. […]
The EU fields a team to tsunami hit Asia to decide how € 350 mn should be spent.
The European Commission will field a team to tsunami hit Indonesia and Sri Lanka today, to best decide how to spend € 350 mn for reconstruction work.The European Commission will field a team to tsunami hit Indonesia and Sri Lanka today, to best decide how to spend € 350 mn for reconstruction work. The team […]
Compensation formula for termination of employees in March
A new compensation formula for termination of employees will come into force in March, says the Labour Ministry.A new compensation formula for termination of employees will come into force in March, says the Labour Ministry. “It will be gazetted most probably in two weeks time.The formula was approved by Cabinet and it is now at […]
Tourism authorities consider revising 2005 targets as tourist arrivals dry up
Tourist flows to the tsunami struck Paradise Isle are drying up and the tourism authorities are considering revising 2005 targets.Tourist flows to the tsunami struck Paradise Isle are drying up and the tourism authorities are considering revising 2005 targets. January is normally part of the winter tourism peak but January 2005 saw only 38,000 visitors […]