A majority of Sri Lankans in white collar jobs and junior-to-senior management level positions in the private sector are struggling with a combination of high pressure jobs, little relaxation and possible health problems which is likely to impact on prodctivity and the economic health of the nation in the future, a survey by The Sunday Times FT’s poll shows.

Bids for the massive Colombo South Harbour infrastructure project were opened on Monday with three companies having submitted bids but not without some controversy swirling around one bidder. The bidders are Hanjing Heavy Industries and Construction of Korea (Rs.76 billion), China Harbour Engineering Company Ltd (Rs.61 billion) and Hyundai Engineering Construction of Korea (Rs.36 billion). Informed sources told The Sunday Times FT that Hyundai had initially been the highest bidder but due to some improprieties, had significantly lowered its bid.

The Public Enterprises Reform Commission (PERC) has been moved under the purview of the Treasury Department's Division of Public Enterprises (DEP) with PERC Chairman W.A.S. Perera and Director General Alexis Silva no longer serving on the Commission. Former PERC Director V. Kanagasabapathy is now serving as the Director General of the DEP. He told The Sunday Times FT that this was in line with a cabinet decision three months ago to repeal PERC. "PERC is still there but we cannot use the name because the functions are under the DEP of the Treasury," he said.

The controversial merger of the SME Bank with Lankaputhra Development Bank (LDB) is likely to take place next month, The Sunday Times FT learns. “We have no role in the merger. It’s Lankaputhra Bank that is handling this exercise and they are carrying out research ahead of the move,” said Douglas Weerasinghe, SME Bank CEO, when asked to comment on the latest situation, adding “We are a passive party”.