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Pan Asia Bank, a late entrant to the credit card market, is offering lower rates of interest to attract users of competitive credit cards.Pan Asia Bank, a late entrant to the credit card market, is offering lower rates of interest to attract users of competitive credit cards. The bank says they plan to offer, debt […]
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The Jetwing Group is infusing US$ 1.25 mn to transform its Trincomalee beach front property into a luxury ‘tented beach camp’. The Jetwing Group is infusing US$ 1.25 mn to transform its Trincomalee beach front property into a luxury ‘tented beach camp’. Sprawled over 23 acre patch of jungle with a beach frontage on the […]
Dividing Digital
A top UN agency says information communications technology in the country needs to focus more on technology as a social leveler. A top UN agency says information communications technology in the country needs to focus more on technology as a social leveler. The report by the UNDP says the government, regulators and other agencies need […]
‘s reserves have been drained so far, as the Central Bank tries to defend a weak rupee.
Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, which is on a steady slide against the US dollar.Ten percent of the country’s reserves have been drained this year as the Central Bank intervened in the market to defend the Rupee, […]
Deja Vu
Black July is past but not gone for good, warns the Asian Human Rights Commission (AHRC) pointing to cases of police torture that continue to occur in Sri Lanka.In January this year, the High Court of Colombo sentenced a Sub-Inspector of Police to seven years rigorous imprisonment with a fine for torturing an innocent civilian.rn […]
Wriggling In
The Inland Revenue Dept is trying to coax the banking sector to give out the national identity card number of its deposit holders.The Inland Revenue Dept is trying to coax the banking sector to give out the national identity card number of its deposit holders. Under the present tax laws, the banks are obliged to […]
Reform Pains
Civil rights activists warn that Sri Lanka is in danger of unfavourable reforms because of poor application of international trade agreements. Human rights groups are drawing attention to legal reforms – brought on by multilateral and bilateral trade agreements that can work against the country if not implemented with care.rn rnLegal and other types of […]
Treasury Secretary invites exporters for talks
The Treasury Secretary gave an open invitation to exporters and SME’s to form industry clusters under the National Council for Economic Development (NCED) on Thursday.The Treasury Secretary gave an open invitation to exporters and SME’s to form industry clusters under the National Council for Economic Development (NCED) on Thursday. Speaking at a seminar on government […]
Central Bank backs agro growth through credit from formal financial sector, rather than direct intervention
Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said.Central Bank’s new thrust to grow the agriculture sector would be backed by credit from the formal financial sector, rather than direct intervention from the bank, officials said. […]
About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for World Bank help
About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. About US$ 3 bn, 96 projects and 50-years later, Sri Lanka is still begging for financial assistance from the World Bank. Sri Lanka’s total project allocation for 2004 tops US$ 400 mn, but World […]