Business Times

Most investors in Sri Lanka trade on inside information
Many of the investors in the Sri Lankan stockmarket trade in shares based on inside information which is a violation of the law but regulators are scared to take these offenders to task, according to some stockbrokers. They were reacting to the stunning announcement this week where Sri Lankan-born billionaire fund manager, Raj Rajaratnam, was found guilty by a US court on insider trading and faces a prison term of upto 15 years. His lawyers have said they would appeal the verdict.
 
Change in Galle Face Green tourism zone plan irks investors

A change in the plan to transform the Army headquarters area near the Galle Face Green, a prominent landmark in Colombo, to a major tourism zone has surprised major investors who have purchased blocks of lands to build two six star hotels. The allocation of a 5-acre land adjoining the Shangri-La hotel site to the Sheraton, another international chain of hotels, was a complete deviation from the original plan, informed sources said.

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