Category: Other
Comeback
A draft Companies Act, thrown out by the former Government will be brought back to replace the 1980s piece of legislation governing businesses in Sri Lanka.Commerce and Consumer Affairs Minister Jeyaraj Fernandopulle told Lanka Business Online that plans to draw up a fresh draft was dropped by the Alliance Government.rn rnInstead the Government will move […]
Easy Game
Prasanna has just gotten himself registered with a lquote get rich quick scheme. He had to pay Rs. 3,000 to a company claiming to operate the world famous lquote Pentagono scheme.rnrn In return he has got three vouchers, which hernintends to sell to three of his friends.rn ldblquote My nephew sold me a voucher for […]
Gold Probe
Several persons who joined the referral marketing plan of the GoldQuest numismatics company, have been reportedly quizzed by the Central Bank for possible violations of Exchange Control regulations by the illegal use of credit cards.rnrn Central Banks Exchange Control Director, H ArnG Hettiarachchi confirmed that the Department was investigating creditrncardholders who made paymentsrnfor third parties […]
Return of the Pharaohs
Central Bank has drafted new laws to combat pyramid schemes that are mushrooming around the country.Pyramid schemes use the same structure as multi-level marketing (MLM) where one entrant is required to bring in two or more recruits by the sale of a product or a voucher.rn rnBut Sri Lanka does not yet have specific provisions […]
No Pity for Prima
Treasury officials and monopoly flour distributor Prima were in talks to obtain a promised government subsidy while regulatory pressure was put on the company to keep flour prices down.The flour subsidy is one among the many subsidies the government is keen to maintain to shield consumers from rising international market prices.rn rnBut critics say the […]
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 […]
Fly Away Peter’85
Colombo is unusual for a capital city in having a large number of wetlands.rnAround Kotte for example a number of wetlands still remain.rnBut these natural assets are deteriorating by the day. rnWhile in developed countries billions are being spent on re-creating nature reserves to enhance the quality of life of city dwellers, Sri Lankans are […]
Sams View
India and Pakistan were the main beneficiaries in moves by the United Sates to have South Asian allies after the events on September 11. International affairs experts say that smaller but more open Sri Lanka is also seeing some spin-off effects of US moves to push its agenda.The United States is the largest donor in […]
’85
Colombo is unusual for a capital city in having a large number of wetlands.rnAround Kotte for example a number of wetlands still remain.rnBut these natural assets are deteriorating by the day. rnWhile in developed countries billions are being spent on re-creating nature reserves to enhance the quality of life of city dwellers, Sri Lankans are […]
Drinking Poison
As traditional farming methods are lost to chemical fertilizer dumping in Sri Lanka, its people are paying with their lives. Over use of chemical fertilizer and pesticide is poisoning the waterbed.LBO goes on a field trip to the Kalpitiya Peninsula which houses Sri Lankas largest shallow water reserve.Forty-three year old J Sundaralingam, a cabbage farmer […]
Fine Cuppa
Russia is sipping more fine teas as the influence of rising average income increases average spending above US$ 5 per kilo in the wholesale markets.The switch to premium quality beverages is taking hold across Russia along with the rising purchasing power of Russian consumers. Trade sources say sales of hot drinks increased by 3.6% in […]
Sex, Lies and Religion
Sri Lankas main Muslim leader Tuesday accused the government of implicating him in a sex scandal to secure his vote while a Buddhist monk charged that a fellow monk legislator had been abducted. Muslim leader Rauf Hakeem in a special address to parliament said the ruling party had fabricated a sex scandal to pressure his […]