Sunday Observer Online


Sunday, 1 February 2015


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Marriage Proposals
Government Gazette
This building, which belonged to Ceylinco Group was expropriated under a controversial law by the former government. The Chairman of Ceylinco Group in a TV interview said that the property valued over Rs.10 billion at that time was acquired without compensation being paid. The project was to develop a 43-storey five-star
luxury complex, which will be managed by the International under the Regency
brand. Dr. de Silva said that money from the Employees Provident Fund and Employees Trust Fund and Pension Fund were used to re-start the construction of the international project in the heart of the Colombo city.

Budget lacks medium and long-term policy direction for investors, say economists:

Interim budget, a mixed bag of benefits

The public have hailed the interim budget as it has a bonanza for government servants and consumers but economists said that there is no policy direction for the economy for the medium and long term. Dr. Sirimal Abeyrathne of the Department of Economics of the University of Colombo,

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Shady transaction exposed

Exorbitant cost, violation of tender procedures and corruption in the sale of properties and contracts for major mega infrastructure projects launched by Mahinda Rajapaksa regime are now being exposed. Deputy Economic Development Minister Harsha de Silva last week lodged a complaint at the Commission,

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Move to boost money circulation

The interim Budget presented by the new Government last week was hailed as a people-friendly and pro-development budget by the business community and the public who have been waiting long for reductions in food prices which skyrocketed in recent months.

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Lanka needs to project itself as an IT-BPO destination

Sri Lanka is fast emerging as a global IT–BPO destination in the world. However, it is necessary to promote and enhance the significant contribution that digital technology can make to Sri Lanka’s economic prosperity, Chairman Federation of Information Technology Sri Lanka.

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Sri Lanka achieves record tea exports

Sri Lanka Customs data analysed by Siyaka Research confirms that Sri Lanka exported a record 327.8 million kilograms in 2014 up three percent compared to the 2013 figure of 319.6 million kg. The previous record was 322.5 million kg shipped in 2011.

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ESCAP to support new development phase in Lanka

The new Government has brought fresh hopes to all Sri Lankans. ESCAP is ready to help Sri Lanka, Director, Trade and Investment Division, ESCAP, Dr Ravi Ratnayake told Industry and Commerce Minister Richard Bathiudeen when he met the Minister in Colombo last week.

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