Category:
Cosy Chat
The Marxist Janatha Vimukthi Peramuna says it will re-negotiate the US$ 567 mn structural loan facility with the IMF, when it comes to power next month.The IMFs concessionary loan package endash the largest ever granted to Sri Lanka last April endash was to be disbursed in equal tranches of US$ 81 mn over a three-year […]
Oh Dear!
Moderate Tamils warned Monday they would declare independence from Sri Lanka unless the government that came to power after snap April elections revived peace talks with Tamil Tigers.The warning came as gunmen shot dead an ethnic Tamil candidate, the first to be killed in the run-up to the polls.rn rnThe Tamil National Alliance, which includes […]
Bow-wow
The red-blue Alliance says the UNF failed to deliver on its promises, its only success was in delivering misery to the People. Alliance members on Monday accused the UNF for letting prices of essential goods rise out of control, especially as the cost of food, fuel, medicines, travel, water and electricity among other commodities shot […]
Woof, Woof
Getting its campaign on the road, on Monday the UNF asked Sri Lankas 12 million voters to decide between clarity and chaos at the April polls.Citing the lack of consensus within the United Peoples Freedom Alliance (UPFA) on peace process fundamentals, the UNF called on voters to decide between the stability of clearly mapped out […]
Phase II
The Asian Development Bank (ADB) on Monday approved US$ 800,000 for a second phase private sector development programme to push through reforms to the financial sector and the states privatisation programme. The monies will be diverted to design of the second phase, which will aim to foster a competitive capital market and nonbank financial sector, […]
Bigger Capacity
Dubai based Emirates Airlines said Monday, that it was adding five new services to Colombo in March, substantially increasing seat and cargo capacity to and from the Indian Ocean island.The new services routed Dubai-Colombo-Male-Dubai commence March 20 and will bring the total number of services operated by the airline to Colombo to 22 a week.rn […]
Gone
An electoral candidate was shot dead in Eastern Sri Lanka Monday in the first political killing in the run up to parliamentary polls in April, police said.A gunman stormed a hospital in the town of Batticaloa and fired at Sinnathamby Sunderapillai who was receiving treatment for gunshot injuries suffered in an attack on Saturday, police […]
Precautious Bank
Peoples Bank provided a massive Rs. 1.7 bn for its property portfolio to comply in advance with a new Central Bank ruling.Provisions for bad debts by banks are made after deducting the value of the collateral for the loan.rn rnUnder the new mandatory haircuts announced by the regulator, banks will only be allowed to setoff […]
Chartered Standards
Institute of Charted Accountants is working on two new accounting standards to improve disclosure and measurement of complex financial instruments, at the heart of spectacular bankruptcies in the US.Accountants say these two standards modeled on IAS 32 and 39 will make reporting on derivatives more transparent.rn rnThe complex nature of derivative and other financial instrument […]
Labours Love Lost
Free trade zone employees, at the end of the supply chain are under increasing pressure to keep costs down as retailers and brand owners offload costs and risks to the supply chain. Governments competing to attract investment and boost exports according to the report is putting further pressure on workers at the bottom of the […]
On the back of IT
Leading IT companies including Oracle, Sun Microsystems and Intel are planning to open offices here on the back of one opened by Microsoft, a top bureaucrat told LBR.Three large call center projects are also slated for launch within next two months, one a captive center for a top insurance firm and two by leading Business […]
Success Secrets
An expert on fiscal federalism says knowing when and how to change state institutions according to changing needs is essential for a government to be successful. Robert Inman, a Professor from University of Pennsylvania said that successful democracies should be capable of responding to changing realities of economy and people.rn rnldblquote Federal system is a […]