An Employees Provident Fund (EPF) member could obtain 30 per cent from his/her total outstanding balance only to build a house, to purchase land for a house, to purchase a house and property, to redeem the mortgage on a house or property or to repay the balance loan obtained from an approved bank, said the…
Wide discussions have currently arisen within society over the Fina Crimes Investigation Division (FCID) of the Police. Kosala G. Thanthula, an internationally acclaimed academic as well as a Tax Consultant who is domiciled in the USA shared his views on the FCID with Adaderanabiz. Below is the video interview held while he was on a…
Following India’s Cairns pulling out of off-shore gas exploration activities recently, another international tender would be called for in October for gas exploration in the Mannar Basin, said Minister of Power and Energy Patali Champika Ranawaka while speaking at a function in Colombo. Cairn India which claimed it had discovered natural gas deposits off the…
Prime Minister Ranil Wickremesinghe today said that the government is currently in the process of “cleaning up” the Colombo Stock Exchange (CSE) and that they intend to establish a ‘Serious Frauds and Financial Crimes Division’ for this purpose. “That’s why we have to start a Serious Frauds and Financial Crimes Division with the intention of…
Chinese investment in Sri Lanka is causing major problems for Sri Lanka’s President Mathripala Sirisena and has become a point of tension in Sri Lanka–China relations. Before taking office, Sirisena had promised that he would look into alleged corruption, stating he would investigate how Sri Lanka is ‘being obtained by foreigners by paying ransom to…
The statement by Singapore statesman Lee Kuan Yew that ‘Sri Lankan democracy is a periodic auctioning of non-existent resources’ gained special significance during the past six months and the popular promises given by the new government through its interim budget has pushed the financial stability of the country into a grave crisis, points out the…
A spokesman for the Metallurgical Corporation of China Ltd. (MCC), which is the main contractor which has undertaken to construct the Outer Circular Highway Phase III, firmly rejected certain media reports over the weekend alleging that the project’s costs have been inflated. The spokesman said that MCC which is the contractor for the Colombo-Katunayake Expressway…
While categorically rejecting the recent media reports that Rs. 2,700 billion has been “misappropriated” in the years 2012, 2013 and 2014 through private Treasury Bond auctions, former Governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal says that it defies all logic and common sense to claim that the entirety of the Treasury…
By W.A Wijewardena Central Bank making losses in two consecutive years There is an ominously dangerous Trojan horse that has been placed in the Central Bank by its previous administration led by the so called Monetary Board which still continues in perpetual succession. That horse is the mounting losses it has made consecutively for two…
The new government of Sri Lanka has revealed its stance on a Western Region Megapolis enveloping the Colombo, Gampaha and Kalutara Districts, states the Central Bank of Sri Lanka’s annual report for 2014. Meanwhile, a recent Cabinet approved proposal stated that the Western Region Megapolis plan prepared in 2004 to develop the Greater Colombo region…
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