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Unfinished Business
The United National Party says it is seeking a 130-seat majority in parliament to continue its program based on a strong peace platform.UNP says its work program, released on Monday in place of the traditional manifesto, will create 8 per cent growth and three million jobs.rn rnComparing the government to a farmer UNP leader and […]
Second Airport
More than 30 international airport developers have shown initial interest in building and perhaps taking a stake in a new international airport in the south of the country.Secretary to the Aviation Ministry said some global players have also shown interest to build the airport at Wellawaya.rn rnldblquote To date 30 parties have taken documents pertaining […]
Baddegama II
Last year alone, severe drought and floods hit the Southern Sri Lanka alternatively leaving many families homeless and poor.rnBut for the villages in the Hambantota district these conditions are a part of their lives.rnThe district has to also deal with issues like economic migration, malnutrition, unemployment and diseases, a direct result of the arid weather.rn […]
Say Watt?
As the drought, dubbed as the worst in the last fifty years, drained the hydro reservoirs making it hard for the electricity utility to meet peak consumer demand, the government stepped in saying it would pump in Rs. 3 billion to secure emergency power to shore up the national power grid.Water inflows to the hydro […]
IMF Oomph
The International Monetary Fund (IMF) has told the government to build on the progress made so far to reactivate a low interest long-term loan while a policy shift will mean the loan will have to be renegotiated.The funds country representative Jeremy Carter told LBR that the IMF board is willing to consider the economic policies […]
Too Vague
The Freedom Alliance unveiled its manifesto promising to stop the tide of privatisations most of which were initiated by the previous PA administration, a party to the alliance.The UPFA says road, rail, petroleum, electricity, ports and airports, water and state banks will not be privatised.rn rnThe party says instead they will strengthen the governments role […]
Bouncing Up
With court room and board room battles firmly behind, the diversified Richard Pieris Group made it to the news this week to pick up two plantation companies. The acquisition is the latest, after picking up Sathosa and getting a tentative foot into financial sector through Pramuka Bank.Its been a while since the once family controlled […]
Political Chessboard
Politicians of all hues and sizes have thrown their hat into the ring for next months snap poll. But smaller parties championing the Sinhala Buddhist, Tamil and Muslim votes are jostling to play the trump card in Sri Lankas next parliament. rnrn Inrnthe second in a series of political updates, Vajira Premawardhana ManagerrnResearch at Lanka […]
Tread Carefully
The International Monetary Fund says Sri Lanka should be ready to raise interest rates if the ongoing political crisis deepens, as the absence of a strong government makes it difficult to keep a tight grip on the public purse.The Washington based Fund commended the country for emerging from 20-years of ethnic conflict, but said economy […]
Limited Edition
The Joint Business Forum (JBiz) has asked the new government to restrict Cabinet members to 25 and Deputy Minister to 25.The limited edition, JBiz says should be complimented with a Consultative & Advisory Committee at Ministrys with representatives from Parliament.rn rnldblquote In recent times, number of Ministers appointed by both, the PA & UNF has […]