All Blogs
Bankruptcy Law Coming
US style bankruptcy protection laws are on the pipeline covering sole traders and partnerships in addition to limited liability companies.The Private sector has been asking for bankruptcy protection laws for some time to give troubled businesses breathing space while they restructure.rn rnThe government is considering a separate act to cover business failures, since this would […]
Cutting Edge
Keeping with this trend Samsung launched its latest audio and home theatre systems in Sri Lanka through its local partners Singhagiri Limited.rn rnLocal agents for the brand Singhagiri Limited say the growth in the consumer electronics industry in Sri Lanka was demanding cutting edge technology and more value for money. rn rnldblquote More people are […]
Peace Funds
The Asian development bank said that it was prepared to offer a technical assistance loan to the government to draw up a blue print for assistance to the war ravaged areas of the country.rn rnOther donors together with ADB on Friday submitted a comprehensive list of on going projects in the north and east to […]
Mega Cities Outside Colombo
The National Physical Planning Department quote s first comprehensive development framework suggests that a massive new metropolis can be built, encompassing Anuradhapura, Polonnaruwa, Dambulla and Trincomalee.rn rnThe first draft of the policy proposal will be shortly forwarded to a high-powered inter-ministerial committee for review. rn rnThe plan is the result of a law passed unanimously […]
Year Book
A report of summary findings of development work by the ADB, World Bank, United Nations Organisations and other NGO quote s in the Northeast is to reach the government Friday.rn rnThis will provide an update of what work has already been done to rehabilitate the area with firm pipeline plans of what the Bank is […]
Down To Cents
The US$ 50,000 grant, extended through the Asian Development Bank (ADB), will finance a study to set up an autonomous authority to streamline revenue collection and tax administration.rn rnInefficiencies in revenue collection, as well as widespread tax evasion are an established fact, with state revenues on the decline in the past few years.rn rnThe national […]
Finding Hope
Managing Director Nihal Jayawardene says the company was studying the proposals and would consider accepting one of them shortly.rn rnMeanwhile, reliable sources say the bank is holding an accumulated loss of Rs. 260 million with an average monthly loss of over Rs.5 million. rn rnAt Rs. 260 million, the bank quote s accumulated loss has […]
Picky Decisions
Plans to ratify the appointment however fell through at last week quote s monthly board meeting. SLT Officials declined to divulge the reason for the delay. rnrnSenior officials say PriceWaterhouseCoopers could commence work immediately before any ratification is made at the next board meeting scheduled for the first week in October. rnrnA decision is pending […]
Carbon Riches
rnThe World Bank recently launched a US$ 100mn Community Development Carbon Fund (CDCF) to take the benefits of carbon commerce down to the grassroots. rn rnThe Fund, launched last week, will provide carbon financing for small-scale projects in rural areas of all developing countries, the World Bank said in a release.rn rnRenewable energy, energy efficiency, […]
Buying Tickets
The final details for the sale of a 39 per stake in the sate owned bus company is being worked out for September 24. The stake will be auctioned over the Colombo Stock Exchange to the highest bidder.rn rnSecretary to the Ministry of State Transport M. Susiriwardena says eight of eleven companies who submitted expressions […]