Author: lbostgadmin
Adopted Kids
US based AIG Insurance shed its Rs.8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday.US based AIG Insurance shed its Rs. 8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday. Hayleys […]
Fighting cost push inflation with tight monetary policy
The debate over expansionary fiscal policy took a new turn with Finance Minister Sarath Amunugama making apparently contradictory statements in the budget, when defending himself against charges of igniting galloping inflation by printing money. “The Honourable Finance Minister’s statement is what I call an oxymoron,” says Dr. Harsha de Silva, a leading critic of the […]
Cutting the paper trail with electronic transactions
Cabinet this week cleared the long pending draft electronic transaction bill, intended to facilitate the use of modern communications and information storage tools in transactions. Cabinet this week cleared the long pending draft electronic transaction bill, intended to facilitate the use of modern communications and information storage tools in transactions. The legislation will create a […]
Tigers to let Tamils vote for Sri Lanka president
Sri Lanka’s Tiger rebels will allow minority Tamils to vote in next week’s presidential election, the guerrillas’ proxies in parliament said Thursday. Sri Lanka’s Tiger rebels will allow minority Tamils to vote in next week’s presidential election, the guerrillas’ proxies in parliament said Thursday. The Tamil vote could decide the winner in the closely-contested November […]
Escape Route
Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if it declares a loss.Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if […]
Dead End
Sri Lanka on Thursday scrapped plans to allow free incoming calls to mobile phones, despite phenomenon success among its Asian neighbours, the telecom watchdog said.Sri Lanka on Thursday scrapped plans to allow free incoming calls to mobile phones, despite phenomenon success among its Asian neighbours, the telecom watchdog said. Mobile operators have been lobbying for […]
Secret Sauce
A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 billion global outsourcing business.A US based venture capitalist says Sri Lanka has it own ‘secret sauce’ in the ICT arena and should use that to tap the US$ 100 […]
Russians are paying more for a good cuppa,
Russians are paying more for a good cuppa, spending an average US$ 1.82 this year, up from US$ 1.69 in 2004. Asia Siyaka Commodity Brokers in its weekly tea report quoted head of the Rusteacoffee industry lobby Ramaz Chanturiya saying that tea consumption in Russia will remain stable in the foreseeable future, but the share […]
Sri Lanka acts to boost tourism revenue
Faced with a decline in tourist spending, Sri Lanka is trying to shift away from dependence on beach lovers and budget travelers and lure more well-heeled tourists. Faced with a decline in tourist spending, Sri Lanka is trying to shift away from dependence on beach lovers and budget travelers and lure more well-heeled tourists. Hotels […]
Dutch Built
Sri Lanka’s northern most port – Kankesanturai will get a 45 million euro makeover courtesy of the Dutch government.Sri Lanka’s northern most port – Kankesanturai will get a 45 million euro makeover courtesy of the Dutch government. Cabinet spokesperson and Health Minister Nimal Siripala de Silva on Wednesday said the Sri Lankan government agreed to […]
‘s peace chief quits amid deadlock in talks
Sri Lanka’s top official handling the peace process with Tamil Tiger rebels resigned Wednesday ahead of presidential elections this month, a government official said.Sri Lanka’s top official handling the peace process with Tamil Tiger rebels resigned Wednesday ahead of presidential elections this month, a government official said. President Chandrika Kumaratunga accepted the resignation of Jayantha […]
Budget 2006: Is it achievable?
The 2006 budget expects revenue to go up by 1.1 percent of GDP to 17.5 percent of GDP and the overall budget deficit to remain at 7.1 percent of GDP. The 2006 budget expects revenue to go up by 1.1 percent of GDP to 17.5 percent of GDP and the overall budget deficit to remain […]