The Sunday Times Sri Lanka - Financial Times

Financial Times

Prompt action taken over IRD building issue

The government took prompt action on last week’s report in the Sunday Times FT exposing a conflict of interest in the Secretary to the Ministry of Construction and Engineering Services and the reconstruction of the Inland Revenue Department (IRD) building.

Vote-on-Account being considered, instead of budget

The government is considering the option of presenting a Vote on Account, instead of the calendar year Budget, to meet the expenses for four months in 2010 as presidential and general elections are scheduled to be held early next year, a minister confirmed but stressed that no final decision has been made.

Other Financial Times Articles

>	Prompt action taken over IRD building issue
>	Vote-on-Account being considered, instead of budget
>	Carson’s foreign plantations set to grow bigger
>	CIMA/ICMA issue cleared by Consumer Affairs Authority
>	Foreign garment buyers urged to contribute to worker wages
>	COMMENT - President: Please meet helpless depositors
>	FEATURE - Disposal of state property needs straightforward methodology
>	IMF :Foreign inflows into bills and bonds not a risk to Sri Lanka
>	Lanka's electronics industry explores prospects of tapping Indian market
>	Right of reply - World Bank says not pulling out of tourism project
>	Cargills to open Jaffna store shortly
>	Concept of productivity-linked wage recognised in new plantation wage agreement
>	German/Hong Kong apparel manufacturer invests in Sri Lanka
>	MMBL Money Master helps former LTTE child soldiers
>	Ceylon Biscuits to launch ‘Nutri Line’ cereal bar
>	Top EU official meets Bogollagama
>	New institute preferred by international airlines, hotels
>	Local firms’ earnings to increase
>	IATA presents climate change proposals to heads of governments
>	ISO 22000 awarded to Aquafresh table water
>	New Asia Head of Sales at Nokia Siemens Networks
>	Vajira House Builders engages in confidence building with depositors after Court order
>	Emirates and V Australia announce code share agreement
>	Basic guide to ‘Investing in the Colombo Stock Market and other Financial Instruments’
>	SLPA awaits revised financial bid for container terminal
>	Moratuwa University creates awareness on transport and logistics sector
>	DECOM Project: Sri Lanka’s case for the Continental Margin
>	Jayasundera to return to the Treasury with SC relief
>	Relief finally for desperate Golden Key depositors
>	Employees’ Trust Fund to invest in Seylan IPO
>	Wind powered electricity generation projects halted
>	Lanka Hospitals (Apollo) to expand regionally and globally
>	Sri Lankan planters seek VAT relief
>	SEC files court case against Singalanka chairman, employee
>	Politicians, public servants must be taxed
>	Stockmarket News
>	Go Holidays partners with Ascott Group for exclusive apartments
>	Kalva Engineers India to offer NDT in Sri Lanka
>	Garment exports on down-trend
>	Neil Marine to start boat manufacturing in Jaffna
>	Janashakthi joins global giants to develop microinsurance
IT news
>	Wireless, high speed data transmission 'critical' for North and East
>	Anti-spy ware pioneer chooses Lanka as outsourcing destination
>	MillenniumIT offered a stake first, says CEO Tony Weerasinghe
>	Virtusa to introduce book of digital photography by employees
>	Intel introduces new main stream range to Sri Lanka
>	Computerization of state-owned land to minimize 'irregularities'

Dilemma of depositors
Key stakeholders in the crisis facing regulated and unregulated finance companies came together at a panel discussion themed “Finance Companies; The crisis and way forward” on Thursday in Colombo, organised by the Sunday Times Business Club. Seen are the panellists, from left -- Neelanie Goonetillake, President of the Association of Depositors at F&G, Shirley Perera, Chairman of the Finance Houses Association of Sri Lanka (speaking) and Arittha R. Wikramanayake, senior partner-Nithya Partners. (Detailed report next week. See also editorial inside). Pic by J. Weerasekara.