Category: Economy and Markets
Battle Front
The current labour legislation, which is considered to be archaic by donor agencies and investor community, prevents flexible employment policies being adopted by investors.These laws are also identified as a major competitive disadvantage for Sri Lanka when compared with more de-regulated labour markets in South East Asia. rnrnldblquote Labour reforms are vital since the private […]
Southern Roar
Rajapaksa was better known for his loyalty towards Sri Lanka Freedom Party, the key constituent party of PA, which his father helped to form, than his loyalty towards the President. rnrnDuring his stint as the Labour Minister in the PA government he introduced the controversial Labour Charter, which earned him the wrath of business community. […]
Petty Cash
Finance Minister K N Choksy said around Rs. 29.7 bn were needed for a month starting from March 19, until the budget debate is concluded. rnrnHe estimated government revenue during the one-month period to be Rs. 18.8 bn. Additional funds, he said could be met under a special Loans Act. rnrnThe annual November budget has […]
Multiplying
The Central Bank plans to expand the number of primary dealers dealing exclusively in government debt.rn rnNewcomers will be on par with existing primary dealers, having exclusive access to bid at the primary auctions. rnrnNew players have to set aside a minimum capital of Rs. 150 mn and have competent dealers, Central Bank Governor, A […]
Beware
Amendments to the Companies quote Act would focus on enhancing minority shareholders rights and disclosing directors quote duties, he added. rnrnCommenting on the impending maiden budget of the government, Pieris said budget will be presented in third week of March, followed by a shorter than usual Parliamentary debate in order to approve the provisions by […]
Red Tape Tax
The survey selected 200 medium and large-scale businesses operating in Colombo and Kurunagela to identify major regulatory impediments affecting economic development in the country. rnrnAccording to the survey, a business loan on average takes 56 days to process and nearly 2 percent of the loan value is spent fulfilling the regulatory requirements of the loan. […]
Changing The Basket
Out with the old and on with the new, Sri Lanka quote s decades old consumer price index has finally lquote hit the basket quote , giving way for revamped lquote Sri Lanka Consumer Price Index quote (SLCPI).
Inflation Brigade
The Central Bank plans to adopt Inflation Targeting during this year as a policy measure to control inflation, Governor A S Jayarwadene told Lanka Business Online today.rn rnInflation Targeting is a method adopted by some Central Banks in the developed countries, to effectively control long run inflation by publicly announcing inflation targets and monetary policy […]
Getting Closer
The agreement on Administrative Arrangements for Cooperation sets out the framework and processes that will lead to better coordination and division of labor among the institutions in providing assistance to the Asia-Pacific region, ADB said in a release today. It emphasizes closer consultation on country assistance strategies, the elimination of duplication of efforts, the harmonization […]
Slipping
Treasury bonds continued to slide at this week quote s auction with three-year notes shedding three basis points to 14.30 percent, the Central Bank said.
Raising Capital
The issue due to open on Jan. 21 also carries the option of raising a further Rs. 30 mn in the event of an oversubscription, the bank said. rnrnWith a minimum Rs. 1,000 subscription, the issue quote s interest rates vary from 13 percent to 14.5 percent depending on each individual type of investments. rnrnThe […]
Paski Returns
ldblquote Mr. Paskerlingum and current advisor to Prime Minister, Mr.K Wijedasa are expected to join Policy Ministry as consultants to streamline the reform process dblquote , source said. rnrnldblquote Mr Paskerlingum quote s wide experience in working through the bureaucracy to serve the needs of the investor community, is expected to come handy in the […]