Category: Other
VIP Trouble
Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator.Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator. The Attorney Generals department is currently examining provisions […]
Gold Mine
The Land & Property sectors has been a top favourite of local punters, but stockbrokers LOLC Securities says investors should take a closer look at the valuation of these shares. The Land & Property sectors has been a top favourite of local punters, but stockbrokers LOLC Securities says investors should take a closer look at […]
Second Class?
A government decision to hit foreign purchases of land with a 100 percent transfer tax could backfire by driving away foreign investments and hurting local companies. A government decision to hit foreign purchases of land with a 100 percent transfer tax could backfire by driving away foreign investments and hurting local companies. The government plans […]
Faith Healing
The role faith plays in generating pro poor growth is difficult to measure but most agree such a connection exists as religions promote the highest of human values, reject violence and direct followers to create a just world. In a multi cultural and multi religious society like Sri Lanka however, interfaith harmony is needed for […]
Nasty Bug
The government is trying a backdoor move to slip in a clause that classifies local firms, which are 25 percent foreign owned, as non-citizens.The government is trying a backdoor move to slip in a clause that classifies local firms, which are 25 percent foreign owned, as non-citizens. The clause was quietly slipped into the Tax […]
Land Grab
The government cancelled 528 land transactions under the Land Reclamation Commission (LRC) on Thursday.The government cancelled 528 land transactions under the Land Reclamation Commission (LRC) on Thursday. All land transactions between January 2002 and March 2004, of State land under the LRC, are cancelled as of now, said the Cabinet spokesman Mangala Samaraweera on Thursday. […]
Too Much?
A top audit expert is asking authorities close ownership loopholes on investment trusts, as capital market regulators tighten the noose on auditors and listed companies. A top audit expert is asking authorities close ownership loopholes on investment trusts, as capital market regulators tighten the noose on auditors and listed companies. The requests comes as the […]
The Tea Board is planning to slap on an addition one rupee cess on made teas, to bridge the gap with its increasing budgets.
The Tea Board is planning to slap on an addition one rupee cess on made teas, to bridge the gap with its increasing budgets. The Tea Board is planning to slap on an addition one rupee cess on made teas, to bridge the gap with its increasing budgets. However, initial indications from the industry has […]
Auditing PC’s
Moving the accounting records from books to computers happened over the last two decades for most companies. Moving the accounting records from books to computers happened over the last two decades for most companies. The challenge of auditing these computer based accounting records was not anticipated at that time and the accounting profession is just […]
Bi-partisan Pyramid
The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. “This government is warning the public of this country very seriously not to invest in these pyramid schemes,” Finance Minister Dr. Sarath Amunugama told a […]
Responsibilty & Co.
Governments depended on tough legislation and regulation to make sure companies don’t damage the environment or exploit labour. Governments depended on tough legislation and regulation to make sure companies don’t damage the environment or exploit labour. But globalization and the resulting open market economies are bringing the same pressures on companies minus the legal action. […]
Strategic Act
Senior Presidential Advisor Mano Tittawella on Wednesday told a conference hall full of donor agency representatives that a draft bill to set up the Strategic Enterprises Management Agency (SEMA) is being pushed through to give legal teeth to its reform agenda.Senior Presidential Advisor Mano Tittawella on Wednesday told a conference hall full of donor agency […]