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(TC – by Eran Wickramaratne) Parliamentary oversight on Finance Article 148 of the Constitution gives Parliament full control over public finance. Since President Wijetunga retained the finance portfolio the authority of the Parliament over finance has been usurped, and created a conflict between the powers of the legislature and the Executive. Even [...] (Daily News – by Edward Arambewela) With the Government presenting the Budget for the rest of the year 2010 in Parliament on June 29 and the Opposition shouting at the Government making all kinds of allegations, I thought it fit to refer to this incident in Parliament that happened on the last [...] (Sunday Island – by Rajiva Wijesinhe) I had initially been sorry that I would not be in Sri Lanka for the presentation of the budget and the debate that took place over the last few days. However, reading about the arguments advanced by the opposition, which still seems determined [...] (Sunday Island – by R. M. B Senanayake) Opposition politicians have described the government’s 2010 budget as an empty or ‘puss’ budget which still depends on donors and that it will not make any changes in reducing poverty for the people. Our budgets used to be more or less [...] (Sunday Observer) Speaking at IAA Bahrain Chapter in preparation for the IAA World Congress in Moscow, Hilmy Cader, CEO of MTI Consulting presented a paper on ‘Shaping Marcom Strategies – after the Global Financial Crisis’ He said the year 2009 saw the sharpest decline in global advertising since the Great Depression. (Sunday Observer) Sri Lankan rubber manufacturers are in for good times as several tyre manufacturing plants will be set up in Chennai, the automobile hub in India, said Chairman Indian Rubber Expo 2011 (IRE), R.K. Raman on Tuesday. He was addressing a seminar on ‘Opportunities for Sri Lankan Rubber Products in the [...] (Sunday Observer) The much anticipated new fish market at Peliyagoda will be opened next month, according to Fisheries and Aquatic Resources Ministry sources. Sources said, over 95 percent of the work at the state-of the art fish market has been completed and the complex will be opened as scheduled early next month. Torrential [...] (Sunday Observer – by Lalin FERNANDOPULLE) Freak rains last week were dreadful to the country. The business community was not spared by the inclement weather which resulted in a colossal loss of money. Production and timely delivery was hampered by poor attendance and loss of man-hours on inundated roads. The death toll had risen [...] (LBO) – Sri Lanka’s investment promotion agency will re-assess its strategy following the end of a long drawn out separatist war with plans for a stronger focus to attract investments from the United States and Europe, officials said. The Board of Investment of Sri Lanka now has a five-year corporate plan. But [...] (The Island – By Devan Daniel in Washington DC) The International Monetary Fund (IMF) believes that South Asia’s prospects for a regional grouping have greatly improved and that prospects for deeper economic integration within the region and with the rest of Asia would continue to improve in future. [...] (LBO) – Two mini-hydro power plants and new hotels and hotel refurbishment are among several investments approved by Sri Lanka’s investment promotion agency, a statement said. The Board of Investment (BOI) said it has approved and signed agreements for eight new investments worth 20 million US dollars that will create 500 job [...] (LBO) – Sri Lanka’s economy is expected to grow at a faster 5.5 percent of gross domestic product in 2010 but the country is facing a danger from excessive deficit spending, an International Monetary Fund (IMF) official said. IMF’s forecast is slightly lower than Sri Lanka’s central bank forecast of a 6.5 [...] (Daily News) Short-term capital flows may be very volatile; they react quickly to sudden changes in investors’ moods, external events, and to perceptions of governments’ macroeconomic policy decisions. In 2007 net debt flows to the developing world were more than 6.5 times as big as they were in [...] (Sunday Island – by Suresh Perera) As the inadequacy of liquid cash continued to impede moves to repay Golden Key depositors, the Supreme Court appointed Committee of Chartered Accountants summoned Ceylinco Chairman Lalith Kotelawala and other directors for a discussion focusing largely on a more proactive role they should play [...] Proven Sri Lankan solution – Part I: Sky rocketing consumer goods is a concern for everybody. The Rajapaksa Government has declared that it will win this economic war too, now that the separatist terrorist outfit of Prabhakaran which was threatening the very existence of this country [...] (Daily Mirror – By Dappula De Livera (LLM London)) With the enactment of legislation to deal with offences of money laundering and terrorist financing, criminal investigators have been handed a new tool to detect crime in Sri Lanka (DN – by E.M.G. Eidirisinghe) Income Tax, one of the two certainties in life, since its coming into force in the mid 1930s in Sri Lanka, is uppermost in the mind of those who make money and intend to make more money. The State itself and its machinery survives on taxation without which [...] |
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