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Singapore After Lee Kuan Yew: Future Is Uncertain For The Utilitarian Paradise He Created

In this age of political Lilliputians, we must acknowledge the passing of giants. Although he ran only a small city-state, Lee Kuan Yew, along with late Chinese Premier Deng Xiaoping, ranks among Asia’s most pivotal figures of the past 50 years. These two men — a tall, aristocratic scion of a Hakka trading family and…

(0)Comments | March 23, 2015 11:06 am

Colombo Stock Exchange get two directors

Lal Nanayakkara and Anton Godfrey have been appointed to the Board of Directors of the Colombo Stock Exchange (CSE) with effect from March 20, 2015. Lal Nanayakkara served as a Board Member of the Securities and Exchange Commission of Sri Lanka (SEC) from 1998 to 1999. He was elected President of the Institute of Chartered…

(0)Comments | March 23, 2015 12:35 am

Expert Committee announcement that groundwater in Jaffna does not contain dangerous pollutants a great relief to public, says MDT Walkers PLC

* Optimistic that further investigations will vindicate baseless accusations The announcement that regional groundwater in and around Chunnakam, Jaffna, does not consist dangerous pollutants was a great relief to the public and is a major step in the positive direction, opined MTD Walkers PLC – the parent company of Northern Power Plant of Chunnakam, which…

(0)Comments | March 22, 2015 8:11 pm

Stock Market Review – 20th Mar 2015

Colombo bourse finished the week on a mixed note in another trading session marked by thin trade as investors opted to stay on sidelines amid the developments in the political and economic fronts. The main index remained in the negative territory for most of the trading session but managed to close 7.88 points (+0.1%) higher…

(0)Comments | March 20, 2015 7:00 pm

Sri Lanka's plantations in crisis; Estates suffer massive losses in 2014, says Association

While showing grave concerns on the loss of Rs. 35 on rubber and Rs. 30 on tea per kg sold last year, the Planters’ Association of Ceylon elaborates on the present issues in the plantation sector, particularly with regard to the decline in the price of tea and rubber despite high production costs. In a…

(0)Comments | March 20, 2015 3:52 pm

Will Chinese investors quit if the port city comes to a standstill ?

The temporary suspension of the Port City project in Colombo has put lot of Chinese investors in uncertainty regarding the Sri Lankan investment policy. The Sri Lankan media delegation currently visiting China was faced with a series of questions from Chinese investment giants such as China Harbour Engineering Company (CHEC), which is constructing Sri Lanka’s…

(0)Comments | March 20, 2015 1:52 pm

Sri Lanka launches third ICT survey with PwC

As ICT exports are projected to top $1Bn this year, Sri Lanka has launched the latest ICT Value Survey to find the national hi-tech exports it achieved in 2013/14-and all the ICT exporters are encouraged to actively take part in it. “We have recognized the ICT industry to be a key player in our exports….

(0)Comments | March 20, 2015 10:31 am

Sri Lanka’s government cancels USD 85 million BIA runway extension contract to Access Engineering

A decision has been taken to cancel the USD 85 million contract to Access Engineering Limited for the extension of the Katunayake International Airport runway, said Cabinet spokesman Health & Indigenous Medicine Minister Dr. Rajitha Senaratne. Minister Senaratne said during the media briefing to announce Cabinet decisions that Access Engineering did not have the required…

(0)Comments | March 19, 2015 7:36 pm

Sri Lanka’s government preparing to bring back 2 billion US dollars stashed in Dubai bank

It has been revealed that there are three accounts at the Dubai National Bank with over USD 02 billion worth of assets belonging to Sri Lankans and the government has handed over the task of getting them back to Sri Lanka to the relevant US and Indian authorities, said Cabinet spokesman and Health & Indigenous…

(0)Comments | March 19, 2015 7:19 pm

Will Chinese company get to build safety wall for Colombo Port City project?

The Chinese company engaged in reclaiming land from the sea for the Colombo Port City project has reportedly requested permission to construct a protective bund surrounding the already reclaimed land. This request is under discussion right now, said Deputy Minister for Policy Planning Dr. Harsha de Silva. The Colombo Port City project is a 100%…

(0)Comments | March 19, 2015 1:30 pm