Production-based lending vital- Treasury Secretary
Sri Lanka's Banking sector should shift from the
present trade-based lending to a production-based lending policy, to
support the economy of the country, said Treasury Secretary,
Dr.P.B.Jayasundera. He was addressing the media at the launch of the
2011 Annual Report of the Ministry of Finance.
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TFC on sound growth trajectory- TFC chairman
The Finance Company (TFC) is on a sound growth
trajectory and it is not affected by the recent NSB-TFC share
transaction, said TFC Chairman, Preethi Jayawardena. He said that
the transaction was a private affair between owners of the shares of
the National Savings Bank and added that it has no impact whatsoever
on the TFC or its depositors.
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Whistle blowing vital to prevent fraud
The number of fraudulent activities in Sri Lanka
had increased by 83 percent during the past two years, a fraud
survey analysis by KPMG revealed. Companies lose around five percent
of their annual turnover as a result of fraud in financial
statements, misappropriation of assets and corruption, the survey
revealed.
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SriLankan scores on punctuality
SriLankan Airlines first quarter(Jan-March)
punctuality record reveals an impressive high average, exceeding the
airline’s punctuality benchmarks for all flights departing Colombo
and destinations in the entire network. The punctuality average
maintained for flights departing Colombo within 15 minutes of the
scheduled time has been 89 percent,
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Kolonna -Balangoda water supply project:
Funding from People's Bank
The Kolonna Water Supply Project will provide
safe drinking water for the Kolonna town and its suburbs
(Aereporuwa, Kolonna, Maduwawnela, Nandanagama, Kella, Ambagahayaya,
Pupulketiya, Hambeli-Ara,Walakada) and will extend up to Udagama
junction.
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CEO, MD Taprobane Securities suspended - SEC
A media release issued by the Securities and
Exchange Commission(SEC) stated that the SEC had issued a directive
dated May 23 to the Chairman and Board of Directors of Taprobane,
Securites (Pvt) Ltd to suspend with immediate effect CEO and
Managing Director of Taprobane Securites (Pvt) Ltd,
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