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Side Dish
The government wants an interim cure for the collapsed peace talks so it can stick to development plans and aid utilisation schedules. Proposals being touted include commissioners to administer aid use and development work in the North and East.rn rnUpto two commissioners could be in place along with a number of district development committees that […]
Back To Seventies
The Central Bank left key benchmark interest rates unchanged as the impact of the worst floods in decades was expected to have little effect on the economy.The bank in its monthly review of Monetary Policy said that inflation remained low as industrial output expanded. rn rnThe bank in a statement said that initial assessment of […]
Tug-O-War
Shippers and exporters are pushing hard for legislation to resolve a long standing billing dispute with ship agents and owners.Shippers say the charge is being used by shipping lines to make profits, while making the countrys exports uncompetitive.rn rnThe Shippers Council has abandoned talks with ship agents to resolve a long running dispute to get […]
HSBC Believes
A top HSBC executive says the banks operations in emerging markets like Sri Lanka play an important role in adding value to their global network.While some foreign banks have shut down their operations in the island HSBC is counting on the country becoming an Asian economic powerhouse.rn rnldblquote Sri Lanka could explode one day and […]
Aid scare
Economists are warning that key fiscal targets could be missed as donors pledge a record amount of aid.Most of the US$ 4.5bn pledged at the Tokyo Donor Conference is debt on concessionary terms that eventually have to be repaid.rn rnAnalysts say this would automatically raise the countrys debt stock and the Debt to GDP Ratio.rn […]
Perks For PERC
The Public Enterprise Reforms Commission is to be restructured this year expanding its scope to include monitoring State investments. The restructuring is expected to speedup the restructuring and privatisation of state enterprises while improving transparency in the process.rn rnPERC Chairman Chrisantha Perera told LBR that over the years, the commission has been regarded only as […]
Edu.Online
An ADB sponsored project will roll out a series of distance education tele-centers countrywide, so students left out of the state system can get those degrees online.rnrn The Asian Development Bank (ADB) today, approved a US$ 45 mn loan for a lquote Distance Education Modernization Project, to increase access to distance and on-line learning.rn rnThe […]
Act Two
Work on drafting a fresh piece of legislation to replace the present Companies Act is due to get off the ground next week.The committee, which includes legal luminaries, like Aritta Wikremanayake, Dr. Harsha Cabraal, representatives from trade chambers, accounting bodies and the Bar Association, have been set a three months deadline to draw up a […]
Close Scrutiny
The Public Enterprise Reform Commission (PERC) plans to become a monitoring agency to look after the governments residual stakes in public corporations.The Treasury is putting together a list of companies the government has shares, which also includes financial institutions, PERC Chairman, Chrisantha Perera said.rn rnldblquote Some of these residual holdings are in restructured corporations or […]
Unchained Melody
The Central Bank left its key short-term discount rates unchanged on Friday after its monthly monetary policy meeting.The overnight repurchase rate or repo rate was kept at 8.25 percent, while the reverse repurchase rate or reverse repo was left at 10.25 percent.rn rnCommenting on its review of the economy, the bank said the recent floods […]