Author: lbostgadmin
Early Present
The Asian Development Bank stepped in on Monday to bail out debt riddled Peoples’ Bank, with a Rs.4.5 bn loan package. The Asian Development Bank stepped in on Monday to bail out debt riddled Peoples’ Bank, with a Rs. 4.5 bn loan package. “We will get Rs 2.0 bn in the last quarter of 2005, […]
World Bank warns that Sri Lanka’s short election cycles and populist policies may turn the island into a banana republic
A multilateral lender has warned that Sri Lanka’s increasingly short election cycles and populist policies are threatening to turn the island into an unstable Latin American-style republic. A multilateral lender has warned that Sri Lanka’s increasingly short election cycles and populist policies are threatening to turn the island into an unstable Latin American-style republic. “The […]
Foreign donors put Sri Lanka on notice amid war fears
International donors are warning the Sri Lankan government that it risks returning to war if it does not overcome opposition from coalition allies and resume peace talks with Tamil Tiger rebels, analysts and diplomats said.International donors are warning the Sri Lankan government that it risks returning to war if it does not overcome opposition from […]
Do it Gingerly
Farmers’ contribution to the economy has been falling as industries and service sector businesses take over. Farmers’ contribution to the economy has been falling as industries and service sector businesses take over. Agriculture accounts for one fifth of the economy despite half the population depending on it for a living.Farmers are poor because they can’t […]
Partner Wanted
HNB Assurance is on the look out for a foreign partner to spruce up its general insurance business.HNB Assurance is on the look out for a foreign partner to spruce up its general insurance business. “The challenge now is to find a partner to support us in general insurance,” said Manjula de Silva, CEO, HNB […]
Red Flags Ahead
World Bank says the erosion of fiscal gains made in the last two years will slow growth to below 5 percent and reduce donor funding for the budget.World Bank says the erosion of fiscal gains made in the last two years will slow growth to below 5 percent and reduce donor funding for the budget. […]
The Other Side
The head of the local investment promotion agency says open global markets are forcing government to give tax incentives to attract investments. The head of the local investment promotion agency says open global markets are forcing government to give tax incentives to attract investments. BOI Chairman Saliya Wickramasuriya says however that these incentives have to […]
Haphazard reform saddles Sri Lanka with skewed growth and persistent poverty.
Haphazard reform has saddled Sri Lanka with unequal and skewed growth, the World Bank says in its new country report.Haphazard reform has saddled Sri Lanka with unequal and skewed growth, the World Bank says in its new country report. “There has been enough growth in Sri Lanka to have already achieved the millennium development goals […]
Sri Lankan, Mistaken As American, Faces Terror In Iraq
Day after day, locked in a cement room somewhere in Iraq, the hooded men beat him.They told him he would be beheaded.“Ameriqi!” they shouted, even though he comes from this poor Sri Lankan fishing village.Day after day, locked in a cement room somewhere in Iraq, the hooded men beat him. They told him he would […]
Fears rise for Sri Lanka peace process as Norway fails to end deadlock
A top Norwegian envoy who failed in his latest effort to revive Sri Lanka’s peace talks has warned both parties to honour a truce or risk a return to full-scale war, diplomats said Friday.A top Norwegian envoy who failed in his latest effort to revive Sri Lanka’s peace talks has warned both parties to honour […]
Hard to Understand
In a country that touts ‘free education’, but where its Central Bank estimates over Rs.5 bn is spent on private tuition at primary and secondary levels, the number of students that master key subjects remain humiliatingly small.In a country that touts ‘free education’, but where its Central Bank estimates over Rs. 5 bn is spent […]
Play Truant
Some 531 errant companies have not sent their financial statements for scrutiny says Sri Lanka’s accounting and auditing watchdog. Some 531 errant companies have not sent their financial statements for scrutiny says Sri Lanka’s accounting and auditing watchdog. Sri Lanka Accounting & Auditing Standards Monitoring Board (SLAASMB) in statement Friday said a recent investigative study […]