Tag: lankabusinessonline

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

Sri Lanka President Chandrika Kumaratunga has removed 39 non-cabinet rank junior ministers ahead of parliamentary elections on April 2, a spokesman for her office said Wednesday.rnKumaratunga was sending letters to the ministers informing them of their formal removal following the dissolution of parliament at the weekend which turned the government into a caretaker body, a […]

rnThe sacking of Sri Lankas parliament could hold up at least US$ 176 mn in World Bank aid to the island, whose economy is headed for a serious slow down, a Bank official warned Wednesday.rnPoverty Reduction Support Credits amounting to US$ 125 mn were due to be taken up for approval by the World Bank […]

Sri Lankas aid utilisation recorded an all time high of nearly US$ 1bn for 2003 and came close to forecast targets despite a politically volatile year that left the peace process in limbo.By end December the total disbursement of grants and loans came to US$ 986 mn compared to US$ 576 mn in 2002 despite […]

The Comprehensive Economic Partnership Agreement (CEPA) between India and Sri Lanka is looking to be the latest casualty of the political uncertainty that gripped the country since November.Thailand backed out of a bilateral trade pact earlier this week, refusing to sign it after the Sri Lankan parliament was dissolved.rn rnOriginally the Indo-Lanka CEPA was to […]

The LTTE will decide on how it and the territories under its paw would participate in the April 03, 2004 snap polls. The LTTE warned on Monday that it would honour the ceasefire agreement, but warned a snap poll was a setback to the budding peace process.rn rn”Our liberation organisation will rigidly observe the ceasefire […]

rnSri Lanka faces another expensive and possibly violent general election nearly four years before its due date leaving the peace process, donor decisions and economic policies in limbo.rnWhile a helpless UNF governments screamed lquote undemocratic and unethical the country is already in the process of breaking up under blue, green and red ranks with all […]