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Mushroom Magic
The centuries-old therapeutic magic of the Ganoderma mushroom, ranked by the ancients of China and Japan as the king of some 38,000 varieties of mushroom found on the planet, will soon be just a sip away for Sri Lankans. A local company, Magnum Investments (Pvt) Ltd., sole authorised stockist for Malaysias DXN Marketing Sdn. Bhd., […]
New Dentures
The government says it has put out a fresh draft, which gives the Auditor Generals Dept., more teeth to flex its muscle.An independent Audit Commission on the lines of other government commissions is expected to ensure autonomy of the Auditor General, says V Kanagasabapathy, Director General of Public Enterprises. rn rnldblquote The present situation is […]
Call Forwarding
The roll out of a free incoming to mobile phones regime is being pushed back once again, this time to allow for greater public awareness. The telecom watchdog on Feb. 12 said the Caller Party Pays (CPP) regime would be effective from March 1, with fixed line users paying up to Rs. 5 more for […]
Poor Show
Sri Lanka may fall short of achieving a projected six percent growth this year, as politicking keeps investors at bay, Finance Minister K N Choksy said.Despite political jitters post November 11, the country notched a 5.6 percent growth last year, in line with Central Banks expectations, Choksy said.rn rnBut a snap parliamentary poll in April, […]
Love From India
The promoters of Indias first Mass Rapid Transport (MRT) system have offered to help the government to set up a similar system to help ease congestion in Colombo.Delhi Metro, Indias first MRT has submitted a feasibility study report to the government, which has been accepted in principle.rn rnOfficials from Delhi Metro Rail Corporation were quoted […]
Getting Cold
The refuse tea export, though illegal, has become the latest threat facing the tea industry, adding to other global pressure. The export demand for fiber and stalk from the tea plant called refuse tea has spawned a whole industry undermining the image and the quality of the brand – Pure Ceylon Tea. The centuries old tea […]
Sisyphus Speaking
A top business leader called on the business community to exert pressure on governments to deliver and be held accountable.Joint business forum Chairman Mahendra Amarasuriya said it is time the private sector started playing a significant role in steering policy and insisting on performance from politicians addressing the 8th LBR LBO CEO Forum last week.rn […]
Second Round
Private bus owners are lobbying the government to remove VAT payments slapped on lease rentals of registered buses.Currently, around 17,500 private passenger buses are in operation and over 90 percent of them are bought on a lease.rn rnMost owners opt to re-lease their buses, to meet costs of refurbishment and spare parts. Funds are also […]
Taking Bets
Working towards meeting a mid year target to launch Sri Lankas second online lottery, the Aitken Spence endash Getch Corp., partnership will invest Rs. 1.2 bn through the Board of Investment in their local operation.Aitken Spence Getch., will provide turnkey lottery management services including the installation, operation, and maintenance of the online and instant central […]
Life Cycle
The Treasury last issued the letter on March 13 2003, with the hope of finding fresh investors and to allow the bank to continue its normal banking operations.rn rnSince a top-level restructuring team was brought in over two-years ago, the bank has been able to cut its Rs. 6 bn negative networth to Rs. 2 […]