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Central Bank to launch several initiatives:
Major boost for Northern economy
After a lapse of nearly 30 years, a Central Bank Governor will visit
Jaffna tomorrow mainly to strengthen the banking sector and meet the
business community in the peninsula. Governor Ajith Nivard Cabraal
will also open the first ever National Development Bank in Jaffna, a
landmark event for the region.
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Jaffna celebrates bountiful Deepavali
For the first time in 30 years the people of Jaffna celebrated
Deepavali festival with goods bought at the same price as they are
in other parts of the country. Informed sources said that for the
past 30 years, all goods including clothes, food items, and fuel
were sold in the area at exorbitant rates as they had to be shipped
from the South.
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Attracts US$ 2.8b FDI since 2006 :
BOI reaches top in investment drive
The website of the Board of Investment (BOI) of Sri Lanka was voted
as the 10th best website in the world by Global Investment Promotion
Benchmarking 2009, a report released by an associate body of the
World Bank last week. The BOI website was also selected as the best
from Asia. The website was re-launched recently with several
additional investor friendly features.
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EPF, ETF to come under one roof
The Employees Provident Fund (EPF) and Employees Trust Fund (ETF)
will be set up under one roof in a massive 30-storeyed building at
Narahenpita shortly. The building will be constructed on a one-acre
land, located between the Labour Department main building and the
Sri Lanka Central Transport Head Office at Narahenpita.
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Jaffna’s judicial system to be revived
Minister of Justice and Law Reforms Milinda Moragoda has taken the
initiative for a complete revival of the judicial system in the
Jaffna peninsula. Minister Moragoda, accompanied by Ministry
officials, paid a visit to the Appeal and District Court premises in
Jaffna last Friday, where he met judges, officials and lawyers.
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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.
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.
The overall prospects for financial sector in 2012 are favourable in view of the conducive domestic micro economic conditions and growth momentum envisaged.
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.
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 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.
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.
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.
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.
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 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.
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,
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,
