Category: Other
A Haunted Bank
Government announced a third re-capitalization of People’s Bank costing taxpayers a mammoth Rs.8 .5 billion. Government announced a third re-capitalization of People’s Bank costing taxpayers a mammoth Rs.8 .5 billion. Currently, People’s Bank is the only large bank not meeting Central Bank’s minimum capital limits. The government re-capitalisation drive will require People’s Bank to pay […]
Fancy tea champagne or a teapuccino? One family company has set its sights on dressing up the centuries old tea drink with a trendy outfit
Fancy a meal starting off with tea champagne, a main course spiced with tea, a desert dipped in tea and round it off with a tea cookie or teapuccino? For Sri Lankans brought up on a traditional diet of kahata (extra strong) tea laced with extra milk and lots of sugar, a four course tea […]
Case Dismissed
Hotelier George L A Ondaatjie compounded his case with the securities watchdog for an alleged insider dealing offence by paying up a Rs. 2 mn fine, the regulator said Friday. Hotelier George L A Ondaatjie compounded his case with the securities watchdog for an alleged insider dealing offence by paying up a Rs. 2 mn […]
Bogeyman
The LTTE continued recruiting children in 2004 but says it is willing to talk with the United Nations to set up a child recruitment monitoring system.The LTTE continued recruiting children in 2004 but says it is willing to talk with the United Nations to set up a child recruitment monitoring system. The LTTE notified the […]
Legal Status
The government will soon amend existing laws to help tsunami victims that will expedite issuing of death certificates and increase the age of adoption of children left orphan by the Dec.26 disaster, the justice minister said Monday.The government will soon amend existing laws to help tsunami victims that will expedite issuing of death certificates and […]
Growing Octopus
The securities watchdog is looking at expanding the Takeovers & Mergers Code to cover indirect takeovers. The securities watchdog is looking at expanding the Takeovers & Mergers Code to cover indirect takeovers. The Securities & Exchange Commission’s (SEC) powers are presently limited to companies quoted on the Colombo Stock Exchange. Hence its Takeovers & Mergers […]
Food For Thought
Farmers have increased area planted with GM crops by over 50 times in last decade. Farmers have increased area planted with GM crops by over 50 times in last decade. But there are no studies on the long-term effects of eating GM food or the effects those crops can have on the environment. Many imported […]
Tea for tourists and sympathy for tsunami survivors in Sri Lanka
The Asian tsunamis washed away much of what drew foreigners to Sri Lanka’s beaches, but a coastal tea plantation reputed for making the world’s most expensive tea has survived to become an oasis for tourists. The usual attractions — turtle hatcheries, marine museums, souvenir shops and fishermen on stilts — vanished in the December 26 […]
Strange Economy
The IMF outgoing resident representative Jeremy Carter says Sri Lanka’s macro economic challenges are little changed from a decade ago when he started to analyze the Lankan economy.The IMF outgoing resident representative Jeremy Carter says Sri Lanka’s macro economic challenges are little changed from a decade ago when he started to analyze the Lankan economy. […]
Political Gas
Legislators included an outdated provision from the old Fair Trade Commission law when a new Act for consumer protection was passed a couple of years ago. Legislators included an outdated provision from the old Fair Trade Commission law when a new Act for consumer protection was passed a couple of years ago. Government is now […]
Not Funny
Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. The District Court […]
Regaining the Coast
The government is going ahead with plans for a ‘no-building’ zone along the island’s coast. The government is going ahead with plans for a ‘no-building’ zone along the island’s coast. “We have already started putting temporary markers on the 100m zone.The Coast Conservation Department will fix the permanent markers.Then we will demarcate it on the […]