Category: Other
First Blood
The Attorney General told the Appeal Court on Wednesday that the government would not go ahead and recruit a Chief Executive Officer to head the upcoming Revenue Authority of Sri Lanka.The AGs statement follows a petition filed by the Customs Superintendents Union against the Finance Minister and Treasury Secretary, to stop the respondents from recruiting […]
Sticky Situation
The Appeal Court on Monday threw out the governments tax amnesty law, saying it lacked legal teeth to become enforceable.Under the present Constitution, once parliament endorses a legislative amendment, it has to be endorsed by the Speaker.rn rnPetitioner Nihal Sri Ameresekera, a Chartered Accountant and Business Consultant says, the Speaker had not certified the Inland […]
Requesting Permission
Sub-continental air traffic could get a boost if a bold proposal to let private airlines fly international routes gets off the ground.The economic cooperation deal between India and Sri Lanka is seeking to open up routes to private airlines to fly to big cities and tourist destinations.rn rnSmall locally owned airlines are clamoring to get […]
Study Buddy
The Food & Agriculture Organisation (FAO) has asked Sri Lanka to join India or Kenya, if it plans to study the unique variances between tea growing elevations. Sri Lanka called on the FAO to fund the research project at the Inter-Governmental Group (IGG) meeting on tea earlier this year. Tea industry officials say FAO has […]
Grand Slam
Hotel Services Ltd., the owners of the Continental Hotel in downtown Colombo, has won US$ 2.5 mn from an arbitration case initiated by Intercontinental Hotels Corp of USA.Hotel Services sought legal recourse on four counts through the International Court of Arbitration of the International Chamber of Commerce, after the US hotel chain cancelled its 30-year […]
Code For Corporates
Members of a committee appointed by the securities watchdog plan to propose measures that will improve the dismal corporate governance practices in listed companies.The SEC appointed committee would have its first meeting soon to discuss how it will approach the issue.rn rnMembers of the committee say the biggest challenge facing them is to see how […]
More Shine
Your chances of finding gems are higher in Sri Lanka than anywhere else in the world, because Sri Lanka has the highest density of gems to land ratio in the world.But at present gem mining is limited to certain areas in the country.Re-mining of the same land is exhausting resources in places like Ratnapura and […]
Bull In The Bourse
The Colombo stock market is trading close to historic highs, leaving brokers and analyst guessing as to how long the Bull Run can be sustained. Market watchers say there are still good buying opportunities in the Colombo bourse but had varying views on how long the run will last.rn rnMost analysts who are closely watching […]
Lacy Trimmings
When the mighty forces join hands, the results are potent. The House of MAS Holdings and The House of Noyon Dentelle de Calais of France have teamed up. The holy alliance will strengthen Sri Lankas position as a global centre for intimate wear apparel endash a far cry from King Kashyapas time when the comely […]
Shoot Out
State officials and peace brokers search for fresh avenues to drive through a lasting peace settlement with the separatist Tamil rebel faction holding on to most of the North and East of the island. rn rnAs another day ends without significant progress with the peace process, Sri Lanka prepares for another battle endash the fight […]
Bush Tourism
The tea plantation industry has identified 20 estate bungalows as potential sites for boutique tourist retreats. Mooted in conjunction with the Sri Lanka Tourist Board, the project is also encouraging other plantation companies to diversify into tourism under an Asian Development Bank project that is looking to spread the risk and increase the profit centres […]
Gloom Over Glitter
Jewelry Industry is banding together in an effort to add value to products while capitalizing on the image of the Ceylon Sapphire.rnWhile the country has a reputation for top quality sapphires very few of them get set into jewelry here. Even fewer go out with local branding.rn rnDiamonds are a girls best friend-add a bit […]