Tag: lankabusinessonline

Buddhist monks launched their formal drive for Sri Lankas parliament from a historic temple town Tuesday with a vow to cleanse politics and restore “ultimate peace”. The saffron-robed monks chanted prayers here before being driven to the islands holiest Buddhist shrine, the Temple of the Tooth, in the central town of Kandy, 112 kilometres (72 […]

Gunmen have shot dead a political activist in eastern Sri Lanka in a second murder believed to be related to next months elections, police said Tuesday. The attackers gunned down Ponniah Yogendran, 28, from the Eelam Peoples Democratic Party (EPDP) in the district of Batticaloa on Monday night, police said.rn rnThe EPDP said the slaying […]

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 […]

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 […]

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 […]

Sri Lankas Buddhist clergy Monday accused President Chandrika Kumaratungas Marxist allies of launching a “smear campaign” against them in the run up to parliamentary elections. The Marxist JVP, or Peoples Liberation Front, which partnered with Kumaratungas Freedom Alliance for the snap April 2 polls, had began clandestinely distributing pamphlets protesting the entry of clergy into […]

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, […]

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 […]

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 […]

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 […]

Confident of 113 seats in the bag, the Freedom Alliance is now working on strategies to push the number above 120.Winning the April poll is among the remaining chances President Kumaratunga has to extend her term in power, which technically end in 2005 November.rn rnIn theory, if the Executive Presidency is abolished after an Alliance […]

rnrn Inrnthe 2004 pre-election budget report, the Treasury says handouts for drought costrnRs. 900 mn, transport sector Rs. 1.8 bn, backward wages for the health sectorrnRs.1.7 bn and Rs. 800 mn for a snap poll.rn Inrnaddition to that, a further Rs. 1.5 bn has been doled out since last November,rnto cushion import prices of oil, […]