Category: Other
Bad Luck
The Mahapola Trust Fund and GTECH filed a counter case in courts Tuesday to fight a fundamental rights petition against the launch of its online lottery. The case is due to be taken up on March 25.The Development Lotteries Board (DLB) got an interim injunction on Monday from the Supreme Court preventing Mahapola from launching […]
Super Power
The Supreme Court sought time till March 29, to give President Chandrika Kumaratunga an opinion on the controversial tax amnesty law.President Kumaratunga had used her constitutional powers on March 8 and asked the Supreme Court for its opinion.rn rnThough the Constitution requires an opinion to be given within 10 days, the five-member Bench presided by […]
Oven Fresh
In 1912, one man with a life savings of 75 cents turned a tea kiosk into one of the largest biscuit manufacturers in the country. With a third generation at the helm, Maliban talks of going public as it charts a course of new growth.Exports are expected to lead that drive, with new markets mapped […]
Say Watt?
As the drought, dubbed as the worst in the last fifty years, drained the hydro reservoirs making it hard for the electricity utility to meet peak consumer demand, the government stepped in saying it would pump in Rs. 3 billion to secure emergency power to shore up the national power grid.Water inflows to the hydro […]
Baddegama II
Last year alone, severe drought and floods hit the Southern Sri Lanka alternatively leaving many families homeless and poor.rnBut for the villages in the Hambantota district these conditions are a part of their lives.rnThe district has to also deal with issues like economic migration, malnutrition, unemployment and diseases, a direct result of the arid weather.rn […]
Bouncing Up
With court room and board room battles firmly behind, the diversified Richard Pieris Group made it to the news this week to pick up two plantation companies. The acquisition is the latest, after picking up Sathosa and getting a tentative foot into financial sector through Pramuka Bank.Its been a while since the once family controlled […]
Political Chessboard
Politicians of all hues and sizes have thrown their hat into the ring for next months snap poll. But smaller parties championing the Sinhala Buddhist, Tamil and Muslim votes are jostling to play the trump card in Sri Lankas next parliament. rnrn Inrnthe second in a series of political updates, Vajira Premawardhana ManagerrnResearch at Lanka […]
Labour Of Love
Ten years of trying and the biggest bargaining tool in the local economy saw the light of day at the Labour Ministry on Wednesday bearing the harmless title lquote The Labour Code of Sri Lanka.The Labour Code of Sri Lanka brings together 26 of the most important labour legislation in Sri Lanka that directly influence […]
Emergency Merit
The Power Ministry is calling upon the Sri Lankan public to collect merit for their after-life by saving power, while industrialists with generators will also get cash into the bargain, if they use their own power.The Ceylon Electricity Board, Sri Lankas power utility which runs into power shortages every few years, is now trying to […]
Red Herring
The ambitious new regulations on food labelling and advertising could turn out to be an April fools joke, as the trade pushes to delay its implementation, while the Health Ministry pussyfoots the issue. The regulations, due to come into force on April 1, sets out new legal standards for the labelling and advertising of food […]
No Kidding
Local media is full of questionable advertising aimed at kids, something stakeholders are not paying enough attention to.Companies spend billions of rupees to market products to children whose spending power is on the rise.rn rnHowever, the ad industry has also been grappling with the ethical implications of advertising to kids who experts say cant make […]
Money Machine
Asiri Medical Services (AMS), contributed almost Rs. 18 mn towards the Asiri Groups top line during its first month of operations and is expected to keep the money rolling in with increasing occupancy.AMS coming into the picture sorted out the hospitals parking problem endash with a seven-story car park endash and is expected to increase […]