Category: Other
Budget 2004
A Collection of Articles related to the 2004 Budget published on LBO rnrn rn rn rnChoksys Sweeteners rnrn rn17 November 2003 rnrn rnrnThe UNF government, which has been progressively clubbing the opposite camp with rnthe peace process, is getting ready to open a second front with the rnbudget…….. rn
Dizzy Heights
Sri Lankas largest family owned private hospital partially opens its doors for private investors next month. What started off as a remedy for family and friends 18 years ago, Nawaloka Hospitals has since cured thousands of patients. But the hospital could been have been still born if the head of the Dharmadasa family was not […]
Clean Seam
The apparel industry is pushing to establish a local certificate that will guarantee buyers of compliance and cutting the cost for small timers. While big apparel exporters have a steady source of orders the small and medium scale factories are struggling to get noticed by the big buyers.rn rnThe industry umbrella organization JAAF is pushing […]
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Poetic Crisis
Experts say ambiguity in the Constitution on the Presidents power leaves room for different interpretations, but political considerations will play a bigger role in resolving the present crisis.Observers say the UNF government will have to consider a ldblquote second phase dblquote for their cohabitation agreement with a wider role for the President.rn rnTaking the Constitutional […]
State Freeze
The President on Wednesday declared a State of Emergency, a day after she sacked three key ministers and suspended Parliament. President Kumaratunga used her executive powers to declare a State of Emergency for a period of ten days, the maximum possible without Parliamentary sanction.rn rnThe powers give security forces sweeping authority to arrest and detain […]
Higher Warnings
The Supreme Court ruled on Wednesday that the President enjoys supreme, inalienable powers relating to defence of the country. rnThe ruling comes one day after President Kumaratunga sacked three key ministers and took over the portfolios of Defence, Interior and Media.rn rnldblquote The plenary Executive power including the Defence of Sri Lanka is vested and […]
Uphill Battle
Despite a recent economic upturn, Sri Lankas somewhat under developed capital market are yet to pose a serious competition to the local banking sector. The commercial banking sector accounts for 64 percent of the total assets in the Sri Lankan financial system.rn rnIn terms of size, most of the banks are relatively small and undercapitalised […]
Under Audit
An international governance watchdog Transparency International has asked the government to carefully study the proposed establishment of an Audit Commission to assure the independence of the Auditor General. It however says there is no doubt that Sri Lankas auditing framework needs improvements.rn rnTransparency, which fights corruption, says that stakeholders should be consulted before major changes […]
Blooming
Like most couples planning to take the plunge Deepali and Nishan wanted everything to be perfect on their wedding day.Deepali was especially keen to have the most gorgeous bouquet possible – a far cry from when flowers were mostly used as offerings at temples.rn rnFlorists say that demand in the local market for flowers for […]
Green Tea
September Customs data indicates that US dollar value of tea exports was US$ 504.9 mn, up form the US$ 499.95 mn posted in 02. Commodity brokers credited the increase to a rise in imported tea blending activities, boosting revenues from the category up US$ 6 mn to US$ 20 mn.Dollar earnings for pure Ceylon tea […]
Major League
US President George Bush has called on the United States Senate for its lquote advice and consent on amending its legislation for avoiding double taxation and the prevention of fiscal evasion with Sri Lanka. The amendments are sought for the convention between the US and Sri Lanka ldblquote for the Avoidance of Double Taxation and […]