Category: Other
Healthy Bill
A new law on Intellectual Property Rights was in parliament on Friday after an initial draft met with opposition from patient rights activists. They challenged an early draft of the Bill on grounds that it ignored concessions won on behalf of poor countries at international trade forums which allow developing countries to import medicine from […]
Friendly Chat
The Central Bank said told Supreme Court on Monday they will meet bankers and other potential investors of Pramuka this week, to give effect to an Appeals Court order.Accordingly, monetary authorities will meet bankers and other potential investors on Thursday (July 24) and Pramukas depositors on Friday (July 25) to explore all options to revive […]
Lotus Eaters
The construction sector, which is a good indicator of economic activity, has been booming over the last year. However acquiring land for development remains a bottleneck to development in the construction sector.Experts say that freeing up and developing these lands would boost the economy while giving market-based values to the properties.rn rnThe Beira Lake remains […]
All Aboard
As wider share ownership is putting pressure on listed companies to improve their corporate governance they try to offer better returns to their most important stakeholders while other stakeholders in the fringes of corporate governance get ignored.A new initiative by the employers federation is trying to change this by giving companies a chance to be […]
Toy Factory
Studies indicate that people around the world are having more sex, but with lower physical output – baby production is on the decline.Along with many other consequences like a fast ageing population, a number of industries depending on kids, are also set to suffer.rn rnThe global toy trade is among them. rn rnIn Sri Lanka, […]
Back In The Shell
Supreme Court on Wednesday reinstated Shell Gas Lankas stand and the Court of Appeal order to prevent competing firms from refilling its cylinders. The ruling overturns the Consumer Affairs Authority (CAA) order allowing cross filling of LPG cylinders.rn rnThe fresh ruling also makes it illegal for LPG traders ldblquote under threat of criminal prosecution dblquote […]
Seize With Ease
The spurt in the economy has fuelled a renewed demand for credit from the financial sector. Some of the quickest credit providers in the market, the leasing companies, have seen growth rates that have comfortably outstripped the double digit growth rates in the financial sector. But the face of leasing is also fast changing with […]
Softly, Softly
A US based IT company with a large software development center in Colombo says it plans to hire 250 more software developers for their Colombo development center as a result of significant business growth over the last two years.Surviving has been tough for most software firms with competition and a slump in IT spending eating […]
Aye for an eye
Government is planning to set up powerful Parliamentary committees to act as watchdogs on State institutions.The special committees will include committees to keep an eye on the management of State revenue, public management and economic development activities.rn rnSeveral standing orders will be issued shortly to form these committees.rnCabinet spokesman, G L Pieiris said that 14 […]
An Act For Audits
The top Government Auditors job is to be made independent with the enactment of a new Law, which will also give the department wide ranging powers.The Auditor General will report directly to Parliament under a proposed Audit Act, and also conduct Value for Money audits on the public sector.rn rnOfficials are trying to get the […]
Hurdles in Law
The private sector is calling for a new law to facilitate asset securitisation transactions in the country and a high-powered financial reforms committee is trying to come up with a draft Act in consultation with industry players.Asset securitisation deals are a rave with leasing companies to hosing loan providers borrowing against their future cash flows.rn […]
CFO, Treasure Island
The Treasury, with donor support is trying to improve public finances and accountability in the Government sector. A recent study on financial accountability in the public sector done with World Bank support showed there is a long way to go.rnrnIn an effort to push up the standards the government recently asked ministries to adopt Zero […]