Category:
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 […]
Tax Facts
Parties to the conflict in the northeast are trying to set up an interim administration that conforms to the Constitution while allowing significant devolution of power. An important area would be funding the administration.Constitutional experts say any attempt at redrawing the Constitution when a final settlement is made would be even more challenging.rn rnColombo still […]
Come Clean
Depositors have asked for the updated financial status of Pramuka Bank to make a detailed restructuring proposal to Central Bank.ldblquote We need to clean up the balance sheet and find the exact situation to deal with it, dblquote says K C Vignarajah who was brought in by the depositors as an independent figurehead to represent […]
Minor Tremor
A minority stake in Sri Lanka Telecom is unlikely to make it to the market this year, as authorities feel the time is not ripe.The telecom giant has also offered a voluntary retirement scheme to shed excess staff, as part of an overall restructuring exercise.rn rnThe government had earlier told the IMF they were planning […]
Sand Castles
The Central Environmental Authority on Friday approved sand mining off the shores of Wadduwa and Kalutara. The Coast Conservation Department project will scoop sand off the seabed at depths of about 15 meters, roughly 2 km off the coast.rn rnThe initial phase of the project expected US$ 5 million is being funded with Dutch aid. […]
Foreign Deposit
Commercial Bank will seek regulatory approval to acquire Credit Agricole Indosuezs (CIA) Bangladesh operations. The acquisition will give Commercial Bank its first overseas outpost and falls in line with plans to expand operations into the South Asian region.rn rnldblquote The Commercial Banks intended acquisition of CAI Bangladesh is part of the banks stated goal of […]
Housing Carrots
The government is kicking off a housing scheme for government officers in a bid to attract and keep the top quality administrative officers.ldblquote We need to give additional incentives outside the salary to attract good people to government service dblquote , Cabinet Spokesman G. L. Pieris said.rn rnThe low cost housing units will range from […]
Sino Ties
Sri Lanka is moving to cement its ties with China, with a state visit by Prime Minister Ranil Wickremesinge next month.In addition to meeting Chinese Premier and President Prime Minister Wickremesinghe will also meet the Chinese Commerce and agriculture ministers, during the six-day visit, which will start on August 08th.rn rnSri Lanka is hoping to […]
New Faces
The Colombo Stock Exchange on Wednesday admitted five new members to trade on its upcoming debt securities board, the DEX.The trading members are: Capital Alliance Holdings Ltd., Central Finance Co. Ltd., National Wealth Corp. Ltd., Sampath Bank Ltd and Seylan Merchant Bank Ltd.rn rnTrading members are second tier brokers, with access limited to dealing in […]
Pay Me
Telco firms will soon introduce charges to terminate calls on each others networks, a fee expected to cover infrastructure costs. Only Sri Lanka Telecom presently, charges a termination fee from mobile operators under the present system. rn rnBetween other operators, its is agreed that the network sending the call, keeps the revenue to cancel off […]
Leveraged Funds
The Urban Development Authority (UDA) has negotiated with local banks to raise upto Rs. 1 bn to build 1300 houses for the middle and high income segments.The loan will pay for initial work, with the UDA planning to front sell the homes to raise the balance requirement of Rs. 9 bn. rn rnThe monies will […]
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 […]