Scientists criticised for not making presentations for Budget

Global Forum with over 50 expatriate and 170 local scientists to kick off next week; Minister tells scientists to support development

By Uditha Jayasinghe
Local scientists were criticised yesterday by Technology and Research Minister for not drawing up and presenting a proposal for increased income so that it could be included in Budget 2012.  “We accept that scientists are not given enough monetary and other resources in this country.  We also acknowledge that it is essential to have good research and technology development in Sri Lanka to achieve growth.

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Is it my time?

Catching the right moment seems to be the intention of United National Party (UNP) Co-Deputy Leader Karu Jayasuriya as he launched his official website last morning, amidst a gathering of politicians, high-profile guests and well-wishers

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Hail H’tota!

Hayleys Chairman Mohan Pandithage, Ports and Highways Deputy Minister Rohitha Abeygunewardana, Member of Parliament Namal Rajapaksa and Sri Lanka Ports Authority Chairman Dr. Priyath Bandu at the groundbreaking ceremony of the $ 7.4 million fertiliser plant by Hayleys Plc in partnership with Hong Kong-based Dragon Asia Fertiliser Ltd., at the economic zone near Magampura Ruhunupura Mahinda Rajapaksa Port. This is the first of four projects that will be kicked off this month. An Indian sugar company, Pakistan cement bagging plant and Singaporean petrochemical factory will be the others

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Independence Square and adjacent area opened for public

The Independence Square and its adjacent area was declared opened for public last Saturday (3) evening by Power and Energy Minister Patali Champika Ranawaka in the presence of Secretary Defence Gotabaya Rajapaksa.

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Reserves a buffer for tough times: CB Chief

• Cabraal says that reserves were built to weather demanding situation, calls on the non-banking sector to seek funds from capital markets and wants it to target 70% of GDP by 2016

By Uditha Jayasinghe
Central Bank Governor Ajith Nivard Cabraal yesterday defended declining reserves, insisting that they were built up to be used in times of need.
Cabraal, speaking at the Directors Symposium 2011 titled ‘Repositioning the Non-Banking Sector for Sustainable and Inclusive Growth,’ called on the stakeholders to go to international markets to obtain capital investment, much as the Government has done.

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Musaeus College gets a new gym

President Mahinda Rajapaksa yesterday declared open the new gym at Musaeus College. Education Minister Bandula Gunawardena, Musaeus College Principal S. Dandeniya, Board of Trustees Chairman Ajita de Zoysa look on.
– Pic by Chandana Perera

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P’ment approves 2012 Budget

Parliament yesterday passed the 2012 budget with 151 votes for and 50 against, giving the nod to an overall increase in spending by 14 per cent and a shock 3% currency devaluation that has already been put into effect.
The budget reading last week was overshadowed by the president’s announcement of a 3% currency devaluation during his presentation of the 2012 spending plan, which was implemented by the central bank the next day.

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F1 car first, next Grand Prix?

Airport and Aviation Services Chairman Prassanna Wickremasuriya and Autogrill Lanka CEO Dimantha Kinigama unveil the Vodafone McLaren Mercedes F1 Racing Car at the BIA Duty Free area

– Pic by Daminda Harsha Perera

Brokers delighted by talk, lunch with President

•  Mahinda urges brokers to venture overseas, market post-war Sri Lanka among foreigners;  reach out and educate rural investors

• Cautions against pump and dump, thereby avoid sharp price fluctuations endangering innocent investors

• Brokers say ASI dropping 2,000 points, PE down to 13 times from 26 create conducive environment for relaxed rules

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First Family drives Rs. 77 billion maiden expressway

President Mahinda Rajapaksa and family took a drive in a Range Rover Sport after the ceremonial inauguration of the Southern Expressway yesterday

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