Monday 21st April 2014

Central Bank sees country’s foreign debt costs declining

Published : 1:48 am  April 11, 2014  |  Category: Front Page  |  Leave a Comment  |  395 views  |  

Reuters: Sri Lanka expects its foreign borrowing costs to decline even as the country’s growing wealth forces a shift towards commercial lenders as a source of funds, Central Bank Chief Ajith Nivard Cabraal said on Wednesday. Cabraal said borrowing costs had been falling, and that he expected they would continue to do so. “In the case of foreign borrowing, we have seen a substantial tightening of the interest rates,” Cabraal told the Reuters Global Market Forum. “Hence, we would probably see (interest costs) on a gently reducing phase rather than a spike.” Sri Lanka’s ability to borrow via ‘soft’ loans with easier terms has greatly reduced following its elevation by the International... 


CB proves Ravi K is right!

Published : 1:47 am  April 11, 2014  |  Category: Front Page  |  Leave a Comment  |  191 views  |  

On Wednesday UNP MP Ravi Karunanayake charged in Parliament that on the basis of the development projected by the Government and that there are no issues, Sri Lanka could be in a position to lend money to President Obama to solve the deficit in the US. The article in the Daily FT yesterday carrying Karunanayake’s comments drew the following response from a Central Bank official: “Sri Lanka indeed lends a substantial amount to the US by way of our investments in US Treasuries. Hence, we also help the US to finance its deficit.”  Read More →


Dr. Suranjan de Silva passes away

Published : 1:25 am  April 11, 2014  |  Category: News  |  1 Comment  |  234 views  |  
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Renowned microbiologist, Dr. Suranjan de Silva passed away peacefully at his residence yesterday morning. It was a sudden death. His remains lie at No. 108/1B, Horton Place, Colombo 7 and will be cremated at 4:00 p.m. on Saturday 12 April at the Borella Kanatta. A low key, publicity shy personality despite the prominent role he played in many diverse spheres; he was the City Microbiologist for over fifteen years and the Chief Medical Officer of the Colombo Municipal Council thereafter until retirement in 1990. A keen Golfer, he was the Captain of the Royal Colombo Golf Club in 1994/1995 and its’ President in 1999/2000. Dr. Suranjan de Silva had a passion for herbal medicine. On retirement,... 


Acting Solicitor General appointed

Published : 1:24 am  April 11, 2014  |  Category: News  |  Leave a Comment  |  243 views  |  
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Senior Additional Solicitor General, Bimba Jayasinghe Tillekeratne PC has been appointed as Acting Solicitor General with effect from 4 April 2014. She is a law graduate of the University of Colombo and was called to the bar on 24 September 1981. She joined the Attorney General’s Department in 1983 and has worked in both the Criminal and Civil Divisions of the AG’s Dept.  Read More →


JVP slams BBS behaviour

Published : 1:23 am  April 11, 2014  |  Category: News  |  1 Comment  |  227 views  |  

The opposition Janatha Vimukthi Peramuna (JVP) yesterday slammed the behaviour of the Bodu Bala Sena (BBS) after BBS members had stormed the venue of a press conference yesterday and verbally abused a monk and a Muslim cleric. A JVP statement said that the BBS had no right to disrupt a press conference as in a democracy anyone has a right to hold press briefing to express their views. The JVP also said that if anyone has an opposing view, they can hold a separate press conference to express that view. “By disrupting a press conference the BBS has set the wrong example,” the JVP said. The JVP also warned that if everyone behaves like the BBS then the situation in the country could take a bad... 


65 arrested over possible revival of LTTE

Published : 1:22 am  April 11, 2014  |  Category: News  |  Leave a Comment  |  236 views  |  

The police have arrested 65 people including 10 women for alleged involvement of a possible revival of LTTE. Police spokesman SSP Ajith Rohana said following investigations five men had been released. He also denied reports that women arrested on suspicion over alleged LTTE links in the north have been abused while in police custody. Speaking to reporters at a media briefing, the police spokesman said that while investigations are continuing into the 60 suspects in custody, allegations that one woman was pregnant after allegedly being raped while in custody was false. He said that of the 10 women in police custody eight have been detained at the Boosa camp and 2 in Vavuniya and they have been... 


Top UK diplomat in Sri Lanka intervenes in drug peddling case

Published : 1:22 am  April 11, 2014  |  Category: News  |  Leave a Comment  |  180 views  |  

The Hindu: The Deputy High Commissioner at the British mission in Colombo had said a suspect was an informant to one of Britain’s officers in India. The interest shown by a British diplomat in Colombo, in what seems to be a high-profile case of drug trafficking involving suspects from at least three countries, has raised eyebrows here. On 3 April, the Deputy High Commissioner at the British mission in Colombo sought an appointment with the Inspector-General of Police N.K. Illangakoon to discuss a recent heroin seizure. The diplomat had said a suspect arrested in connection with the case was an informant to one of Britain’s officers in India. When The Hindu asked the British High Commission... 


Amãna Takaful achieves ISO 9001:2008 recertification

Published : 12:00 am  April 11, 2014  |  Category: Financial Services  |  Leave a Comment  |  251 views  |  

Upon successful completion of the ISO audit for quality management systems in December 2013, Amãna Takaful PLC was recertified as a service organisation in compliance with ISO 9001:2008 Quality Management Systems Standards. Under the recertification, all business facets that are critical to the organisation’s functions including Underwriting, Claims, Customer Relationship Management, Human Resources, IT, Marketing & Sales and Finance along with regional offices were audited for compliance for two consecutive days as specified by the ISO norms. Following an in-depth audit process, DNV confirmed recertification of ISO 9001:2008 to Amana Takaful PLC. The recertification audit was conducted... 


Over 1.5 million visit Divi Neguma Avurudu fairs

Published : 12:00 am  April 11, 2014  |  Category: Fashion/Lifestyle, SECTORS  |  Leave a Comment  |  94 views  |  

The number of people making purchases at the Divi Neguma Avurudu fairs now being held in 324 main towns countrywide under the guidance of Economic Development Minister Basil Rajapaksa, is expected to reach three million. The Divi Neguma Development Department has organised the fairs with the assistance of 19 state organisations including the Trade and the Mahaweli Ministry. The fairs which began on 7 April will continue till 12 April. Textiles, fresh vegetables, fruits, sweets, rice, coconuts, powdered milk, dry rations, spices, plants, ornamental fish, products of small industrialists and meat products are among the many items which will be available under one roof at all these places. Twelve... 


Oh no! Comic book character ‘Archie’ dies in end of series

Published : 12:00 am  April 11, 2014  |  Category: Entertainment, SECTORS  |  Leave a Comment  |  143 views  |  

REUTERS: Archie Andrews, the fictional red-headed, American teenager in the popular “Archie” comics, will die in the conclusion of a flash-forward series this summer, according to its publisher. In the series of his adventures after high school and college, the iconic comic character will die while saving the life of a friend in ‘Life With Archie #36’ in July. “We’ve been building up to this moment since we launched ‘Life with Archie’ five years ago, and knew that any book that was telling the story of Archie’s life as an adult had to also show his final moment,” Archie Comics Publisher and co-Chief Executive Officer Jon Goldwater said on the website www.archiecomics.com.... 


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