Category: Other
Not Fair
Flour Mill giant Singapores Prima Ceylon Ltd has filed papers for arbitration against the government for failing to honour two clauses in its agreement.A fresh deal signed by the government and Prima in April 2001, specified that flour giant will not be discriminated against any other company/person engaged in the producing wheat flour.rn rnThe government […]
Third Innings
Sanjiva is excited about prospects for open source software in Sri Lanka.Clad in a denim shirt like any other software engineer he is taking some time off from his regular job at IBM to work with some students at the Colombo University.rn rnSanjivas involvement with these tech savvy students comes through the Lanka Software Foundation […]
Crafting Markets
Devendra is putting final touches on a Sesatha, traditionally used as a symbol of power but in modern times a decorative item in homes.Although its usage has changed overtime the process of making one has remained the same over the centuries.rn rnDevendra uses traditional methods passed down through the generations to hand paint a Sesatha. […]
Interim Relief
State-run Sri Lanka Rupavahini Corp. (SLRC), Independent Television Networks and the Sri Lanka Broadcasting Corp. (SLBC) challenged the independent election chief on Tuesday, over his decision to takeover the media institutions.rn rnElection Chief, Dayananda Dissanayake appointed a competent authority endash W D L Perera endash to run the media institutions until polls end on Friday. […]
Interpreting Interpretations
In the run up to the polls Lanka Business Online published the opinion polls of Org Marg Smart. Dr. Harsha de Silva, a pioneer in opinion polling in Sri Lanka, who has been observing the polling by both OMS and the CPA and their interpretations has attempted a combined analysis of both the OMS and […]
Toss A Coin
Sri Lankas two main parties may find it hard to secure a comfortable lead, as weeks of campaigning comes to an end on Tue, an independent poll reveals.In its last survey to the run up of April 2 polls, independent research firm Org-Marg Smart says the opposition United Peoples Freedom Alliance (UPFA) has a slight […]
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Short Break
The Supreme Court on Tuesday sought extra time to hear the fundamental rights application filed by state electronic media organisations against the Elections Commissioner.The matter was put off for Wednesday March 31, as one of the judges, Justice Shirani Bandaranayake declined to hear the case for personal reasons.rn rnThe other two judges endash Justices T […]
Switching Channels
Sri Lankas independent election chief took over state-owned radio and television stations amid allegations that their programs were highly biased towards the presidents party. Dissanayake said he appointed a “competent authority” to run stations until the conclusion of the election which begins with voting Friday and ends with the declaration of results a few days […]
Battered To Be Better
Last year Sri Lankas six top local banks collectively made Rs. 8.3 billion in profits, up from just Rs.2.9.rnbillion in 2001.rnrnrn Behind part of the profitsrnlay bond profits from a falling interest rate environment.rn The Central Bank was able torncut rates because for the first time in almost a decade the Treasurys fiscalrnpolicy was in […]
Tough Run
NatWealth Corp., says the fund misappropriation allegations in the State media are politically motivated, baseless and a distortion on facts.The retort came Thus., following up the State medias second onslaught on the Mahapola Trust fund management subsidiary.rn rnThe allegations has also halted moves by DFCC to invest in NatWealth, and slowed efforts to grow the […]
Checkmate
Moves by DFCC Bank to invest in National Wealth Corp. were put on hold following defamatory reports by the state media on Tuesday.NatWealth, which is a fully owned subsidiary of the Mahapola Trust Fund, has denied allegations of misappropriation of funds.rn rnState news reports alleged that Rs. 3.16 bn in Mahapola Funds were illegally transferred […]