Tag: lankabusinessonline

Former Treasury Secretary P.B. Jayasundera returned to the post today, ending speculation that Presidential Advisor Mano Tittawella was up for the post.Though familiar territory to Jayasundera, his initial tasks could include increasing the governments borrowing programme to foot the cost of the Alliances election promises.rn rnIn addition, an increased borrowing programme could also put pressure […]

After a change of government it is customary to see changes also in the top rung of State departments, corporations and missions abroad.rn rnThe process is already underway but this time under public scrutiny like never before thanks to civil society groups demanding greater accountability and transparency of any new appointments.rn rnAn anti-corruption body, Transparency […]

Central Bank says non-bank private sector has capacity to absorb nearly Rs.100 billion in extra borrowings but warned any such move will push interest rates up. The UNF government announced in its last budget its net borrowing for the year would be Rs.65 billion but the Central Bank says they can borrow up to Rs.30 […]

People waiting all day in long queues braving the blazing sun to get their passports at the Immigration and Emigration Department is a common sight in Colombo.rnrn The department, which issues passports, deals with over three thousand people who come to its cramped and dilapidated offices at Bambalapitiya daily to get new passports or renew […]

Protecting jobs at home has become a hot issue in the US presidential race as companies there, relocate some business processes looking for lower taxes and cheap labor. Americans are seeing a repeat of history when thousands of manufacturing sector jobs was lost to cheaper imports and the shift of production facilities abroad.rn rnBusiness Process […]

Sri Lankas top trade chamber said Friday that it will support the new Government, but voiced concern over proposals to expand the public sector and extend the states role in commercial activity. The Ceylon Chamber of Commerce drew up a checklist of five priority areas to be tackled when work begins, re-iterating that economic activity […]

The JHU (Jathika Hela Urumaya), will make it a priority to introduce a new law to stop Sri Lankans from being persuaded to change their religious beliefs. The JHU is hoping to stop the islands majority Buddhists from embracing other religions endash mainly the teachings of various Christian sects now operating freely all over the […]

Casualties were suffered on both sides in the first major clash since a split in the guerrilla group, the pro-Tiger Tamilnet.com website said.rn rn Forces of the Liberation Tigers of Tamil Eelam (LTTE) were advancing on positions held by those loyal to the renegade regional commander V. Muralitharan, and there were casualties on both sides, […]

Guerrilla factions have exchanged heavy gunfire in north-eastern Sri Lanka, in the first major clash since an unprecedented split in the Tamil Tiger movement, military officials said.rnrnFighters of the main Tamil Tiger movement and cadres controlled by a renegade regional commander fired mortars and small arms fire for nearly two hours across the Verugal river, […]

President Chandrika Kumaratungas United Peoples Freedom Alliance (UPFA) Party is still struggling to secure a Parliamentary majority but they are already looking at forming a Constituent Assembly within the next two months – to tinker with the Constitution. ldblquote A date has not been set aside to form a Constituent Assembly but it should be […]

The election of nine Buddhist monks in Sri Lankas elections has sent parliamentary officials scrambling to make suitable seating and dining arrangements for the “honourable venerable.”rnThe saffron-robed monks elected from an all-clergy list put forward by the radical National Heritage Party also known as the Jathika Hela Urumaya (JHU) require special chairs and a vegetarian […]

Transparency International urged for accountability past the polls, with less than ten of the over 5600 candidates that contested, discharging statutory duties to disclose assets and liabilities before the election. The corruption watchdog rapped local politicians for the lack of commitment to fight corruption in the electoral process, including abuse of state resources.rn rnldblquote TISL […]