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Terror Treasure
Proceeds from the auction will be used as seed capital for the proposed Youth Corps, Minister Bandula Goonerwardene said.rn rnThe Gold collection, which includes 1521 bangles, 1192 rings and 1242 bangles, is currently placed with the Central Bank in eight separate deposits. rn rnIt is claimed that the JVP has build up this Gold reserve […]
Money Cleansing
rnMinister Bandula Goonerwardene at the Cabinet press briefing today said the government hoped to utilize the funds to boost local investments. The proposed Inland Revenue Special Provision Act, which will declare a 18 month clemency period to invest previously undeclared funds through capital investments in formal businesses.rn Prospective investors will not face penalties or taxes […]
Diplomatic Maneuvering
Lloyds of London officially removed the surcharge last month following intense diplomatic lobbying and a consultation with independent security experts who carried out a security audit on Colombo Port. rnrnHowever, some shipping lines continue to charge a WRS on cargo bound to American ports, said President Ceylon Shippers quote Council, Ravi Ratnapala. rnrnldblquote This is […]
Looking For Direction
Education reforms have been on the cards for the past 20 years but in implementation have been a painfully slow process if not a non-starter. rnrnIn addition to a lack of political will, one of the key reasons educational reforms get stuck in limbo is the failure of successive governments to successfully market the reforms […]
All Or Nothing
Trade Unions waging war against the Unilever quote s Mabola tea factory closure have decided to stick to a ldblquote remaining service life dblquote claim as the only acceptable compensation for the redundant staff.
Easing Ahead
The Central Bank offered and accepted bids for Rs.6.565 bn despite the auction being oversubscribed with bids for Rs. 12.461 bn. rnrnBids on offer this week included re-issues of Rs. 5.565 bn in maturing bills and Rs.1.000 bn in fresh issues. rnrnThe weighted average yield for three month notes slipped three basis points to 12.83 […]
Green Labels
The initiative will rank products and services on their net environmental friendliness, with an eco-label certification provided by an authorized certifying body. rnrnBacked by the Science and Technology Ministry and driven by local environmental NGO EMACE, the 21-member steering committee representing manufacturers, exporters, and local certifying bodies. rnrnWorldwide, eco-labels have been used to cover diverse […]
Motivating Managers
The speaker line up is headed by Doug Adams who has build up an international practice in training corporate management on leadership skills. Adams has worked with many top local companies like JKH and MAS Holdings and expected to use his knowledge on local management traits to stimulate a change in mindset. rnrnAdams has titled […]
Running East
Formerly known as eRunway Inc., Virtusa is a Sri Lankan company headquartered in the, USA with development centers in Colombo, Hydrabad and Boston. rnrnVirtusa develops and deploys mission critical products and solutions for Fortune 1000 companies and leading software product developers. Its core competence revolves around developing cutting edge technology and delivering dynamic project plans […]
Building Debt
Construction work on the head office complex is expected to cost the bank around Rs. 4 bn. rnrnThe securatised paper carrying a ten-year tenure, will be privately placed with institutional investors, a senior HNB official said. rnrnSecuratisation is an asset backed debt instrument, where the future cash flow receivables of the assets are transferred to […]