Business tycoon Harry Jayawardena, as developments unfolded in his business empire, this week launched a move aimed at installing his wife and a close aide as directors at one of the groups.
The Central Bank (CB) of Sri Lanka is postponing the implementation of the minimum capital requirement for banks which was due to be enforced from January 2007.
Come 2007 the government is promising a facelift to Sri Lanka’s archaic labour laws that would lead to a sector-based minimum wages mechanism and the eventual establishment of a home-grown national labour standard. This follows a continuous clamouring from the private sector urging the government to hasten labour reforms that facilitate economic development and improves competitiveness.
Tourism Minister Anura Bandaranaike this week fired an unusual broadside at his former brother-in-law and Tourist Board chairman – accusing the latter of overspending but choosing to keep silent on his own excess spending!
Tough import regulations that are promising to serve as anti-dumping measures look to be heading into a blind-alley because a key stakeholder, the customs, is in the dark about the new rules - thanks to some forgetful officials.
