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Cracks In Diaspora

Cracks have begun to emerge among the Tamil Diaspora groups which were collectively campaigning against the Sri Lankan government both during and after the war. The first major crack came with the British Tamils Forum saying it has decided to distance itself from the Global Tamil Forum (GTF) which is also based in London. BTF [...]

Sovereign Bond Not To Strengthen Reserves

Part To Service Foreign Debt Proceeds of The US$ ($) one billion Sovereign Bond which the Government of Sri Lanka (GoSL) recently sold in international capital markets and which entered the GoSL’s Treasury account in the week ended January 17, 2014; will not be used to strengthen Central Bank of Sri Lanka’s (CBSL’s)  foreign exchange [...]

Sabotage?

With several of the power plants reportedly out of service together with the breakdown at Norochcholai, it has raised concerns whether it could be due to sabotage. Currently there is a major dispute between the mechanical and electrical engineers of the CEB, where the mechanical engineers accuse the CEB of favouring the electrical engineers and [...]

Packaging Industry Hit By Electricity Costs

Sri Lanka’s high electricity costs make it difficult for the multi billion rupee packaging industry to compete with Indian products if the industry is opened up, an industry spokesman told reporters in Colombo on Thursday (January 23). The industry is protected by a 100% duty on the importation of finished packaging products. Michael Perera, General [...]

Baurs Builds Rs. 350 Mn. Office

Profits Up 470% In Sw. Fr. Terms Swiss headquartered A. Baur & Co. (Pvt.) Ltd., laid the foundation stone on Thursday (January 23) for the construction of a Rs. 350 million eight storeyed office complex at its Grandpass premises. Lakshman Niyangoda, the company’s first Sri Lankan Managing Director (MD)/CEO told this reporter that if all [...]

Lanka In OHCHR Report

By Easwaran Rutnam While the UN High Commissioner for Human Rights Navi Pillay will be presenting a report on Sri Lanka to the UN Human Rights Council at its 25th session in March, she has also made references to Sri Lanka in her annual report which will be submitted to the Council separately. In the annual [...]

State Protected Rupee After Two Months

Central Bank of Sri Lanka (CBSL)/state protected the exchange rate (ER) after a lapse of two months at Wednesday’s (January 22) trading, data maintained by this reporter showed. But this trend was reversed in the two remaining days of trading left last week, ie on Thursday and Friday due to inflows on thin volumes, sources [...]

Fall Of One Year T Bill Stayed

Four Month Honeymoon Over The benchmark 364 day (one year) Treasury (T) Bill primary yield  for the first time since the weekly primary auction of September 25,2013; remained unchanged without  falling, ie at Wednesday’s (January 22, 2014) auction, data maintained by this reporter showed. Its weighted average yield (WAY) since the weekly primary auction of [...]

Water, Water, Everywhere Why No Fish To Fish?

By N. Sathiya Moorthy None should – and would expect the 27 January talks between Sri Lanka and India (read: Tamil Nadu) on the issue of fishermen to produce instant results. It is not like instant coffee. Fish and fishing fields take generations to form, but only years to vanish – and vanquished in their [...]

It Is Premature To Speculate – Tilvin Silva

By Camelia Nathaniel   The Janatha Vimukthi Peramuna (JVP) is reportedly undergoing internal disputes regarding the leadership of the party which could lead to further splits. Several of the older party members are embroiled in a tussle for the post of party leadership, while the current leader is of the opinion that the time is [...]

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