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Battle of the bottle in Jaffna
Consumption of liquor in the Jaffna peninsula has recorded a dizzy increase over the past few months with more alcohol being taken into the peninsula.

The LTTE member who is overseeing their 'Customs' office at Omanthai told The Sunday Times' that large quantities of liquor of popular brands were being taken into the peninsula following the relaxation of travel and trade restrictions.

He said the LTTE was imposing a tax of 25 per cent of the total value of each bottle, whether it is for commercial or personal use.

Union Bank changes hand
Union Bank, a fully Sri Lankan owned private bank, is to be run by a Saudi-Singaporean backed consortium in association with Sampath Bank, another fully Sri Lankan owned private bank in a management take-over approved by the Monetary Board.

Banking sources told The Sunday Times that a sum in excess of Rs. 500 million has been infused to the ailing Union Bank. Sampath Bank and the Saudi-Singaporean consortium, Chin-kara, will purchase some 40 percent of the shares, while the National Savings Bank will buy almost 30 percent investing Rs. 250 million itself but Union Bank sources said the amounts are less.

NSB is expected to play a behind-the-scenes role leaving Sampath Bank and Chinkara to play the lead role in the new management structure at Union Bank. An official announcement on the management take-over is to be made soon.

Bonanza for MPs
The Government decided this week to import luxury vehicles for MPs under an Indian credit line. The Sunday Times learns the Cabinet has agreed to a proposal that $15m. of the $100m. credit line earmarked for machinery and equipment be utilised to import vehicles for MPs.

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