Category:
Back to Basics
The problem with subsidies is that the rich enjoy them as much as the poor. The cross subsidy on diesel is a classic example.Owners of fuel guzzling sports utility vehicles enjoy a significant portion of the subsidy.rn rnMoney spent on subsidies and free services like water and education are often enjoyed by the richest quintile […]
Project lquote Put Off
The Colombo Commercial Company property facing the Beira Lake is owned by the UDA.A part of the property has been given on a 50-year lease to the Commercial Company while the rest of it is on a shorter lease, which ends next year.rn rnThe lease agreements have forced potential investors to talk to the Colombo […]
Listing Debt
The Central Bank has allowed the Employee Provident Fund to list its Rs. 240 bn government treasury portfolio on the CSEs new debt trading system, the DEX.The giant pension fund with over Rs.330 bn in its kitty, is currently negotiating a fee structure with the Colombo Stock Exchange. rn rnLive transactions are expected to start […]
Bits of Crime
The long overdue Computer Crimes Bill is low on ram, but more laws are on the way to legalise digital signatures and set minimum security standards for electronic transactions. ldblquote The Electronic Transaction Act, that will legalise digital signatures, is now at the Legal Draftsman, dblquote said Senior State Counsel, Dilrukshi Wickramasinghe on Thursday addressing […]
Good Tidings
The US Agency for International Development said it has finalised a five-year US$ 120 mn plan to support peace and reform in Sri LankaVisiting USAID Deputy Assistant Administrator Mark Ward said the new strategy demonstrates Washingtons commitment to lquote sticking to Sri Lanka so long as progress is made towards peace and economic reform.rn rnHe […]
Be Careful
Asian countries are enjoying some of their best years after the East Asian crisis. But a top IMF official says the party might end quickly if emerging economies dont continue to strengthen their financial sector.ldblquote Perhaps the most urgent need is the further strengthening of the financial sector. In many countries, banks and companies are […]
Korean Chips
Koreas Myunghim Lanka (Pvt) Ltd has signed up to build a US$ 18 mn township development project in Kalutara.The Board of Investment says the 100 percent South Korean investment will be spread over three-years, to give the Kalutara town a face lift.rn rnThe project would evolve in eight phases. rn rnFirst a Public Market with […]
You Call You Pay
Fixed line and cellular subscribers will pay up to Rs. 5 more per minute for calling a mobile user, possibly from March 1. The additional charge comes with a shift in the national telecom policy where mobile phone users will not have to bear the cost of an incoming call.rn rnInstead, any person making the […]
Party Pooper
Sri Lankas system of party politics is accelerating into action with the President clearing the way to stockpile state resources under the Alliance flag and the UNF scrambling to blow the lid on it.As both sides slug it out, around US$ 184 mn of development funds went under.rn rnOn Wednesday the Presidents dismissed all deputy […]
Not Now
Sri Lankas Tiger rebels have asked for direct reconstruction aid as a political crisis in the government here stalled their peace process, but donors have ruled it out, the World Bank said Thursday.rnThe Liberation Tigers of Tamil Eelam was seeking the concession because the Norwegian-backed peace bid had come under increased strain due to a […]
Flying Visit
The US embassy said Mark S Ward, Deputy Assistant Administrator of the Asia and Near East Bureau, USAIDs highest-ranking official covering South Asia, visited the Jaffna Jaipur Center for Disability Rehabilitation (JJCDR) in Jaffna Town. rn rnThe JJCDR, originally known as the Jaipur Foot Program, was founded by local women in 1987 to meet a […]
Flying Birds
SriLankan Airlines air taxi service, called SriLankan Air Taxi, which took off in December 2003, has added two more destinations to its network. rnrnThe air taxi now flies to Anuradhapura and Hingurakgoda in the north central province in addition to its four other destinations.rn rnThe airlines amphibious eight-seater, Cessna Caravan seaplane takes off from Sri […]