Tag: lbo

A top business leader called on the business community to exert pressure on governments to deliver and be held accountable.Joint business forum Chairman Mahendra Amarasuriya said it is time the private sector started playing a significant role in steering policy and insisting on performance from politicians addressing the 8th LBR LBO CEO Forum last week.rn […]

Lack of long-term planning since independence and intense party politics have kept Sri Lanka from developing faster, a top private sector personality said on Thursday.The LBO-LBR CEO forum on Thursday saw some of the countrys leading business figures mull over a number of challenges facing the private sector put before them by the keynote speaker […]

Top trade chambers say Tuesdays meeting with the PA-JVP alliance has failed to shed any light on how they plan to manage the economy.The newly formed JVP-PA alliance talked of promoting a mixed economy with a ban on importing unessential goods.rn rnBusinessmen, instead, were left with many pointed questions like progress in a gamut of […]

The monks will be pitted against minority Tamils, who are mainly Hindus and also want to hold the balance of power after the April 2 election called by President Chandrika Kumaratunga nearly four years ahead of schedule.rn rn The majority Sinhalese community, which is mainly Buddhist, is divided down the middle between two coalition parties […]

The four co-chairs of peace have expressed disappointment over the current political situation and repeated their call on the Sri Lankan government to resume peace talks. The co-chairs turned down a government request to de-link the peace element from the aid package, in the light of the current political situation and a breakdown in peace […]

Wooing support for its ticket to govern the country, the newly formed SLFP-JVP alliance flirted with the Colombo based business and international community on Tuesday. The gala two-hour PR campaign, the first major public appearance since the alliance was signed in late January was mooted to ally fears of an anti-private sector regime in the […]

Nationalist party, Sihala Urumaya said Tuesday that it was exclusively fielding Buddhist monks to contest the 225 seats up for grabs at snap parliamentary elections.rnThe Party said it will bank on saffron power for the April 2 elections called by President Chandrika Kumaratunga after she dissolved parliament nearly four years ahead of schedule on February […]

Sri Lankas Prime Minister has accused the countrys president of jeopardising a ceasefire with Tamil rebels and scuttling economic recovery in his first public address since his government was sacked 10 days ago. “The presidents action has jeopardised the ceasefire agreement. The economy has suffered a severe blow,” Prime Minister Ranil Wickremesinghe said in his […]

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 […]

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 […]