Author: lbostgadmin
Line Master
Delays in appointing a Commission to the telecom watchdog is holding up Suntels next phase of network expansion. Costs per line are estimated to tumble down to about US$ 200 from the above US$ 1000 levels currently, with the new network expansion.rn rnSuntel could also tap the market for funds to foot its network expansion […]
Disclosure Regulation
A former securities regulator is calling on authorities to mount a public education campaign to increase awareness about pyramid schemes.Central Bank has already drafted some legislation to combat pyramiding as part of their come in their upcoming Banking Act, but there is no sign that the parliament will pass it any time soon.rn rnldblquote Even […]
Catching The Bus
Sri Lankas mass transport system driven by private and public busses and vans are a public menace killing around 500 people on average every year.rn rnThe quality of service is also appalling overcrowding, arbitrary pricing and sudden changes of routes and strikes.rn rnThe action plan for land transport that was approved by Cabinet last Thursday […]
Model Pyramid
Sri Lankans who get into pyramid schemes simply because they are lquote not illegal would find themselves in a legal vacuum with no help from the system, a top legal luminary points out.One of Sri Lankas top lawyers and a former head of the Securities and Exchange Commission, Arittha Wickremanayake says authorities should speed up […]
Customs Fraud
The Customs Department investigators are probing whether Gold Quest customers defrauded the state of revenue, by undervalueing imported Gold coins to the country.GoldQuest customers or Tracking Centre Owners, paid only Rs. 3,000 in duty and taxes for the Rs. 80,000 plus priced gold coins purchased from the companys website.rn rnThe coins are cleared by a […]
Gaol Quest
Customers of Gold Quest, who were hoping to gain total financial freedom within three years by joining the firms controversial lquote binary compensation plan, may now have to spend up to five years in jail for foreign exchange fraud.Authorities have started gathering data on Gold Quests Tracking Center Owners (TCOs) who fraudulently used credit cards […]
Curious Courier
DHL said they would upgrade supply chain management in the Asia Pacific region to better service the garment trade.Guaranteed quotas for garment exports are due to expire at the end of the year and DHL says garment manufacturers will have to rely on faster delivery times to be competitive.rn rnApparels already account for around 50 […]
Tigers Tail
The key to unlocking the US$ 4.5 bn Tokyo aid is to restart peace talks endash but the governments main ally the JVP wants the LTTE to first lift its pre-conditions on the interim administration.The co-chairs of the Tokyo conference met in Brussels this week and called on both parties to resume peace talks as […]
Illiterate Cop
Sri Lankas Supreme Court is to investigate a complaint from a man of the tiny indigenous community that police violated his rights by stopping him from using his native language, officials said Friday.Uruwarige Kekula said a police officer had threatened him with physical violence unless he spoke the islands majority Sinhalese language instead of his […]
Flash Dance
A Sri Lankan convict who joined his prisons dance troupe escaped when his jailers took him to perform at a Buddhist temple, an official said Friday.The prisoner, serving a four-year jail term for robbery, vanished when he was brought from the main prison in the central town of Kandy three days ago for the temple […]
Dressing Down
A restaurant in Sri Lanka which served a vegetable roll with a cotton dressing for a wound was fined Rs. 5,000 and warned to improve its hygiene, a press report said Friday.The magistrate in the southern town of Matara slapped the fine on the restaurant owner after a customer complained of discovering the offending dressing, […]
Globe Trotting
The prospect of joining U.N. peacekeepingrnmissions has prompted more people to join Sri Lankas army, which has beenrnsuffering from a troop shortage, military officials said Friday.rnAfter two decades of brutal civil war, this countrys army has beenrnplagued by desertions. Officials have struggled to get recruits for thernforce, which is supposed to have 100,000 members.rn rn […]