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| The Asian Development Bank (ADB) which pulled out a major power sector loan last year is back with fresh loan negotiations with the government following a decision to replace power sector reforms with a regulatory process rather than privatisation. |
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President Mahinda Rajapakse is leading a powerful Sri Lankan business delegation to the World Economic Forum, the biggest grouping of political and business leaders, being held in Jordan from May 18 to 20 and will thereafter proceed to Kuwait for a May 21-22 visit. |
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 The new ambitious Chairman at the Board of Investment (BOI) has given six months to the investors to start their projects once approved.
Dammika Perera, also an entrepreneur in his own right, is planning to sanction the 550 aspirant investors within less than two weeks. “We will take less than two weeks to approve these applications.
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The Central Bank says it’s not interested in any more Indian or Pakistani banks but is keen to attract banks from Singapore, Japan and China.“There are some banks from both India and Pakistan that are seeking approval, but the Central Bank is not keen on any more banks from these countries,” a senior Central Bank source told The Sunday Times FT.
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