In a possible first not only in Sri Lanka but the rest of the world, a local court has sanctioned the conduct of a board of directors meeting in prison because most of the directors are in remand and depositors of the failed company want to withdraw their money fast.
Sri Lanka’s private sector is trying to retain existing workers but is freezing new recruitment in 2009, to ride out the global recession. Most companies are not generating new jobs this year and are not even filling up vacancies.
Ministers Anura Priyadharshana Yapa and Rajitha Senaratne and Board of Investment Chief Dhammika Perera (partly hidden)watch intently as a worker puts the finishing touches to a new bathroom set at the opening of the new Rocell Bathware Ltd factory at Homagama on Friday. Mr Perera is also chairman of the company. Pic by J. Weerasekera
In a possible first not only in Sri Lanka but the rest of the world, a local court has sanctioned the conduct of a board of directors meeting in prison because most of the directors are in remand and depositors of the failed company want to withdraw their money fast. 