Snippets

$1,000 is all it takes
Despite the government's professed commitment to eradicating corruption, old habits die hard, even at the island's premier investment agency. A prospective investor in a technology-based venture recently found to his dismay that the approvals process was stalled abruptly.

Inquiries revealed that the delay was deliberate and that for $1,000 he could get the required approvals.

Dashing coconuts
Pramuka Bank depositors are expected to gather at the Kaali Amma Hindu Kovil, Mutwal today to dash coconuts in a symbolic gesture to invoke the wrath of the gods on, and curse those responsible for, the bank's collapse. Some 15,000 depositors have been affected by the crisis.

Palitha Gamage, President, Pramuka Bank Depositors' Association, said investors are unlikely to try reviving the failed bank unless the Central Bank announces that Pramuka will not be liquidated. He expressed disgust and surprise at the long silence of the Central Bank, since they submitted their Pramuka restructuring proposal on September 17.


Back to Top  Back to Business  

Copyright © 2001 Wijeya Newspapers Ltd. All rights reserved.
Contact us: | Editorial | | Webmaster|