Author: lbostgadmin
Scouting Trip
A delegation from the Millennium Challenge Corporation (MCC) will be in town next week, to weigh Sri Lankas eligibility for assistance from the Millennium Challenge Account (MCA). A delegation from MCC will visit Sri Lanka from June 1- 5, the US Embassy said Friday.rn rnThe MCC is a U.S. Government corporation created in January, to […]
Aid Tied Down
An international donors meeting on Sri Lanka next week is expected to push for a resumption of peace talks between Colombo and Tamil Tiger rebels, the US State Department said.rnThe meeting in Brussels will be among Norway, Japan, the European Union and the United States, which are leading efforts to drum up financial aid for […]
Pow Wow
US Deputy Secretary of State Richard L Armitage will travel to Brussels May 31 to June 2, 2004 for consultations with fellow donor co-chairs of the Tokyo Conference on Reconstruction and Development of Sri Lanka on the current status of the peace process in Sri Lanka.Other participants will represent the governments of Norway, Japan and […]
Critical Update
The first in a series of Microsoft organised workshops to upgrade IT awareness in Sri Lanka got off this month. Microsoft Country Manager for Sri Lanka Sriyan de Silva Wijeyeratne says the software giant would be rolling out a series of workshops in Colombo and in rural areas with very low IT penetration.rn rnSpecial emphasis […]
Mind Your Manners
The Labour Minister will start a workers trade union school to change attitudes of employers and employees to foster better working relations.Sri Lanka lost around 87,000 man-days to strikes during 2003, while a number of strikes have already taken place within the five months of this year, mostly among essential services in the public sector.rn […]
Balancing Act
Sri Lankas trade deficit for March expanded marginally, as the countrys import bill galloped ahead of export earnings, the Central Bank said Wednesday.Trade deficit for March grew US$ 70 mn to US$ 223 mn in 2004, as foreign inflows from tourism, ports, private transfers and net inflows of portfolio investments eased the pressure on the […]
Die or Dare
A 10-year State guarantee to buy its entire requirement of school, police and hospital uniform cloth is on offer to any investor daring to revive Kabool Lanka. Freedom Alliance Labour Minister Atauda Seniviratner says the government will also pledge Treasury approval to phase out the payment of some Rs. 160 million in outstanding statutory payments […]
Price Of Politics
The cash strapped Ceylon Electricity Boards large thermal plants need urgent repairs, but the utilitys tariffs are not being revised, as politicians dillydally over its financial viability.After years of behaving like a paranoid Ostrich and sticking its head in the sand whenever an awkward question is raised, the CEB finally came out with the real […]
Comfort Zone
Leasing specialist, Ceylease Financial Services, has secured a BBB-(sri) national rating for its long term senior debt, from Fitch Ratings Lanka.A BBB-(sri) or triple B minus rating denotes a low expectation of credit risk. It reflects the firms ability to meet timely payments, but its exposure to external economic changes may impair this capacity, Fitch […]
Chit Chat
Norways top peace-broker met with a Tamil Tiger rebelrnleader Wednesday in the latest effort to revive stalled peace talks betweenrnthe guerrillas and the Sri Lankan government, the Associated Press reports.rn The government has sent the Tigers a proposed agenda for talks and thernrebels were expected to give a response to the document during their meeting […]
Holding Steady
Sri Lankas foreign reserves took a 2.2 percent dip in March, slightly above a 5.7 percent drop in January 2004, according to latest data released by the Central Bank.rnrn Officialrnor Central Bank reserves slipped to US$ 2,261.5 mn, while total reserves, whichrnalso includes private holdings, rose 3.0 percent to US$ 3,313.3 mn.rn SrirnLanka has to […]
Pyramid Warning
The Sri Lanka Banks Association (SLBA) warned the public not to invest in get-rich-quick pyramid schemes, which may result in losses.Pyramid schemes are money making methods that have one person recruiting several others, with each person paying a recruitment fee, or overpriced goods.rn rnThe build up of the network of participants, starting from one person, […]