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From autocracy to parliamentary democracy:
Transition should be given a chance- Business leaders
Professionals and corporate personalities
stressed the need to give a chance to the transition from autocratic
governance to parliamentary democratic form of governance that is
taking place in the country. They were vehemently opposed executive
presidency which has ruined the country for over 35 years.
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'Yawning gap between agri experts and farmers'
The yawning gap existing between agricultural
experts and farmers continued to exist and as a result expertise did
not filter down to farmers at the level they needed it most.
President Maithripala Sirisena was speaking at the Cargills Saru
Bima Farmer awards ceremony at the BMICH last week,
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BoC records Rs 13.6b PAT
Bank of Ceylon (BoC) closed its 75th year
recording a profit before tax (PBT) of Rs.20.3 billion, the highest
ever in its history, a growth of 29% compared to the previous year.
Post tax profit stood at Rs. 13.6 billion, a 12% growth. The Group
reported Rs. 21.4 billion PBT, a 33% growth over last year with the
Bank dominating the results of the Group accounting for 95% of
earnings and 97% of the Group’s assets.
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'Forced mergers, a failure'
The consolidation of banks and non bank
financial institutions (NBFIs) to create a robust financial sector
in the country has not been satisfactory as mergers, according to
financial sector experts were forced by the regulator and not driven
voluntarily. Experts said that there cannot be forced mergers. It
should be done willingly by entities in the best interest of
shareholders.
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