Category: Legal

February 21 (LBO) – Saudi Arabia has ‘crucified’ four Sri Lankans after beheading them, including a man who was told he was only serving a prison-term, media reports from the desert kingdom said. In 2006 consumer inflation in Sri Lanka rose by 19.3 percent and the rupee fell to 109 to the dollar after the […]

February, 21 (LBO) – Every attempt is being made to bring the new companies act into effect from next financial year starting from April 02 making it easier to set up and operate firms, an official said. An advisory committee charged with giving effect to the act met this week to iron out remaining stumbling […]

RIYADH, Feb 19, 2007 (AFP) – Four Sri Lankans convicted of armed robbery were beheaded by the sword in the Saudi Arabian capital Riyadh on Monday, the interior ministry said. Victor Korea, Ranjith De Silva, Santhosh Kumar and Sharmila Sangeeth Kumar were executed for robbing a number of businesses at gunpoint, the ministry said in […]

January 19 (LBO) – Saudi Arabia has beheaded four Sri Lankans by the sword including a man serving a jail sentence, reports from the desert kingdom said, bringing an abrupt end to a three year struggle by rights organizations and the prisoners themselves for clemency. An AFP news agency report quoting the Saudi Press Agency […]

January 31 (LBO) – The Securities and Exchange Commission has clamped down on brokers who finance customers by giving them extra time to settle, because the practice is undermining the finances of the intermediaries, an official said. No single client (a company, a group of companies or immediate family members) can be given more than […]

January 05, 2007 (LBO) – Sri Lanka’s securities regulator will include a revised corporate governance code into the Colombo bourse’ listing requirements, making it mandatory for quoted companies to adopt the rules from April onwards. Drawn up by the Securities a& Exchange Commission of Sri Lanka (SEC), the Institute of Chartered Accountants of Sri Lanka […]

Nov 23, 2006 (LBO) – Foreign investors in Singapore who attended a road show by the Colombo Stock Exchange have raised questions about Sri Lanka’s growing infamy as a money laundering hub, and the inability of authorities to counter such activities, participants said. One foreign investor asked the head table what action the authorities planned […]

November 22, 2006 (LBO) – Sri Lanka’s securities watchdog has filed action against nine people for misleading market players with transactions connected with shares of Nawaloka Hospitals Ltd. The nine persons, the SEC says committed “acts to create a false/misleading appearance of an active share market and the offences of aiding and abetting and conspiracy […]

BERLIN, Nov 6, 2006 (AFP) – Haiti, Myanmar and Iraq are perceived as the most corrupt countries in the world while Finland is seen as the cleanest, a respected global graft watchdog reported Monday.Transparency International (TI) said in its annual Corruption Perceptions Index covering 163 countries that some of the world’s poorest nations were also […]

Nov 03 (LBO) – Sri Lanka’s securities watchdog settled a case against Mr. Sajee Lakshman Perera, relating to share trading of Ceylon Grain Elevators (CGE). The accused was charged with creating a false or misleading impression relating to the market and price of CGE shares and misleading the SEC in its investigations, the Securities and […]

Oct 16, 2006 (AFP) – Sri Lanka’s Supreme Court Monday ordered the breakup of the restive Northeastern Province, a massive administrative region claimed by Tamil Tiger rebels as a separate state.The creation of the province was a key Tamil demand accepted by a 1987 peace accord that gave limited authority to minority Tamils in the […]

September 8, 2006 (LBO) – A bill to counter computer crimes is stuck in parliament for over a year, illustrating the daunting task facing those who try to modernise laws to take Sri Lanka towards a digital age, officials said Friday. The law was first debated in August 23, 2005 but has since been blocked […]