Category: Other
Toss A Coin
Sri Lankas two main parties may find it hard to secure a comfortable lead, as weeks of campaigning comes to an end on Tue, an independent poll reveals.In its last survey to the run up of April 2 polls, independent research firm Org-Marg Smart says the opposition United Peoples Freedom Alliance (UPFA) has a slight […]
Orgmarg final2
final5final6final7final8final9
Short Break
The Supreme Court on Tuesday sought extra time to hear the fundamental rights application filed by state electronic media organisations against the Elections Commissioner.The matter was put off for Wednesday March 31, as one of the judges, Justice Shirani Bandaranayake declined to hear the case for personal reasons.rn rnThe other two judges endash Justices T […]
Switching Channels
Sri Lankas independent election chief took over state-owned radio and television stations amid allegations that their programs were highly biased towards the presidents party. Dissanayake said he appointed a “competent authority” to run stations until the conclusion of the election which begins with voting Friday and ends with the declaration of results a few days […]
Battered To Be Better
Last year Sri Lankas six top local banks collectively made Rs. 8.3 billion in profits, up from just Rs.2.9.rnbillion in 2001.rnrnrn Behind part of the profitsrnlay bond profits from a falling interest rate environment.rn The Central Bank was able torncut rates because for the first time in almost a decade the Treasurys fiscalrnpolicy was in […]
Tough Run
NatWealth Corp., says the fund misappropriation allegations in the State media are politically motivated, baseless and a distortion on facts.The retort came Thus., following up the State medias second onslaught on the Mahapola Trust fund management subsidiary.rn rnThe allegations has also halted moves by DFCC to invest in NatWealth, and slowed efforts to grow the […]
Checkmate
Moves by DFCC Bank to invest in National Wealth Corp. were put on hold following defamatory reports by the state media on Tuesday.NatWealth, which is a fully owned subsidiary of the Mahapola Trust Fund, has denied allegations of misappropriation of funds.rn rnState news reports alleged that Rs. 3.16 bn in Mahapola Funds were illegally transferred […]
Bad Luck
The Mahapola Trust Fund and GTECH filed a counter case in courts Tuesday to fight a fundamental rights petition against the launch of its online lottery. The case is due to be taken up on March 25.The Development Lotteries Board (DLB) got an interim injunction on Monday from the Supreme Court preventing Mahapola from launching […]
Super Power
The Supreme Court sought time till March 29, to give President Chandrika Kumaratunga an opinion on the controversial tax amnesty law.President Kumaratunga had used her constitutional powers on March 8 and asked the Supreme Court for its opinion.rn rnThough the Constitution requires an opinion to be given within 10 days, the five-member Bench presided by […]
Oven Fresh
In 1912, one man with a life savings of 75 cents turned a tea kiosk into one of the largest biscuit manufacturers in the country. With a third generation at the helm, Maliban talks of going public as it charts a course of new growth.Exports are expected to lead that drive, with new markets mapped […]
Say Watt?
As the drought, dubbed as the worst in the last fifty years, drained the hydro reservoirs making it hard for the electricity utility to meet peak consumer demand, the government stepped in saying it would pump in Rs. 3 billion to secure emergency power to shore up the national power grid.Water inflows to the hydro […]
Baddegama II
Last year alone, severe drought and floods hit the Southern Sri Lanka alternatively leaving many families homeless and poor.rnBut for the villages in the Hambantota district these conditions are a part of their lives.rnThe district has to also deal with issues like economic migration, malnutrition, unemployment and diseases, a direct result of the arid weather.rn […]