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Sunday, 28 June 2009

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New law to regulate micro finance institutions

[January 30 2012]

A new law to regulate micro finance institutions is expected to be enacted in 2012. The proposed Micro finance Act will provide for the establishment of a separate authority to regulate and develop micro finance institutions.

 

Domestic foreign exchange market continues to expand

[January 30 2012]

The domestic foreign exchange market continued to expand last year. The total volume of spot transactions increased to US$ 7,789 million by end of September 2011,compared to US$ 5,439 million recorded during the corresponding period of 2010.

 

Prospective 2012 financial sector

[January 30 2012]

The overall prospects for financial sector in 2012 are favourable in view of the conducive domestic micro economic conditions and growth momentum envisaged.

 

Mahela back as SL captain

[January 23 2012]

Veteran middle order batsman Mahela Jayawardene was today appointed as captain of the Sri Lanka team for next month’s tour of Australia. His re-appointment as Sri Lanka captain comes after the resignation of explosive opener Tillakaratne Dilshan.

 

US$ 3,113 million forex during the first eight months

[January 23 2012]

The total foreign financial in flows to the government amounted to US$ 3,113 million during the first eight months of 2011. Higher foreign loan in flows during the period reflect the faster disbursement of foreign loans to finance major infrastructure development projects.

 

Workers' remittances up by 27.2%

[January 23 2012]

Workers' remittances has grown up by 27.2% to US$ 3,381 million durimg the frist eight months of 2011. This reflects higher in flows from official channels, partly due to repatriation of savings by migrants owing to uncertainty prevailed in the Middle East countries at thebeginning of the year.

 

Inflation to remain mid single digit

[January 23 2012]

The inflation is expected to remain at mid single digit levels during 2012. The continuous improvement of domestic supply conditions as well as the slow down of international price rises from their peak levels earlier last year would help keep domestic price levels low.

 

Bangladesh army says foiled December coup

[January 19 2012]

The Bangladesh army said today that it foiled a coup attempt by retired and serving officers late last month which intelligence sources said was driven by a campaign to introduce Sharia law throughout the majority Muslim country.

 

PL Cricket: Colts leads on first innings

[January 19 2012]

Colts CC, which gained first innings points, takes an overall lead of 237 runs with five second innings wickets in hand on day two of their three-day Sri Lanka Cricket conducted Premier League Tier A match against Bloomfeild continued at Bloomfield grounds today.

 

500 MW capacity Coal Power Plant at Sampoor in Tricomalee

[January 19 2012]

The Government will go ahead with its plan to construct the proposed 500 MW capacity Coal Power Plant at Sampoor in Tricomalee with Indian assistance. The Cabinet has approved the proposal on the project made by Economic Development Minister Basil Rajapaksa.

 

Anticipatory bail for Nadesan case suspects

[January 19 2012]

Anticipatory bail was granted by the Madras High Court to five persons against whom police had filed a case for allegedly breaking into the residence of a priest at Rameswaram and attacking husband of Minister Nirupama Rajapaka.

 

'GMOA's planed strike violates court order'

[January 19 2012]

Since there is an enjoining order preventing strike action by the Government Medical Officers Association(GMOA) it's planned strike for tomorrow is a violation of the court order,

 

Ashantha back in the saddle

[January 19 2012]

New Chairman of Selectors Ashantha de Mel said that picking the Sri Lanka cricket team for the forthcoming tour of Australia will be the first priority of his committee. In an exclusive interview with the Observer Online a short-while ago,

 

 

“The war against terrorism is now over and we have to focus more towards developing the country,” thus President Mahinda Rajapaksa emphasized the importance of putting development activities on the ‘Fast track’ when he reopened the tea factory at Handugalla in Wallasmulla yesterday, which was set on fire during 88-89 Insurgency by the JVP. The factory was re-constructed at a cost of Rs. 45 million. Ministers Chamal Rajapaksa and D. M. Jayaratne were also present. Pic: Indrajith Perera.

Three decades ago even the lorries from the Southern part of Sri Lanka lined up on the streets of Kankesanthurai, the coastal city at the Northern tip of the island to load the bags of cement produced by the Kankesanthurai cement factory. The Tigers in the North destroyed this industrial marvel. The damage done to the KKS cement factory had also struck a blow to over two-thousand Jaffna men who depended on the factory for their living. Steps have also been taken to rebuild the factory along with the reconstruction activities to rebuild Jaffna. Pic: Chaminda Hittatiya

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Several political parties in the fray:

‘Election fever’ in Jaffna

Jaffna is caught up with election fever after many years with political parties holding several public rallies. For more than a decade Jaffna based political parties were unable to engage in any form of election-related activities due to LTTE threats in Jaffna.

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Indian External Affairs Minister assured:

IDPs will be resettled soon

Senior Presidential Advisor Basil Rajapaksa MP who led the three-member high level delegation to New Delhi this week assured Indian External Affairs Minister S. M. Krishna that the Sri Lankan Government had no intention whatsoever of keeping Internally Displaced Persons (IDPs) in welfare villages.

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Over 100,000 targeted:

Boost for foreign tourists in NE next year

The Tourism Ministry will launch hotel construction projects at selected locations in the Northern and Eastern Provinces to attract over 100,000 foreign tourists during 2010. Deputy Tourism Minister Faizer Mustapha told the Sunday Observer that the ending of the 30-year war and the emergence of peace in the North and the East has encouraged the Sri Lanka Tourism Promotion Board and private sector hoteliers to recommence their business activities in the region.

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UNP’s standpoint on 13th Amendment

The main opposition UNP said it would extend its fullest support to implement the 13th Amendment, if the proposals of the Amendment could bring fruitful results to achieve a lasting solution to the present crisis.

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