Permanent work contracts and life-long-jobs are going out of fashion in Sri Lanka with more and more businesses opting for informal work arrangements.The latest findings show that Sri Lanka’s job market is ‘informalising’ at a rate, jerking labour market regulatory systems out of gear. Given the changes, the experts say Sri Lanka needs to re-look at existing labour regulations fast, to make sure they remain useful.

Some shareholders and directors of the Richard Pieris Group differed in issues raised at the company’s AGM on Friday. Minority shareholders had expected a stormy meeting with RPC chairman Dr. Sena Yaddehige not attending in anticipation of a crisis. But when the meeting opened, one of the directors Paul Ratnayake – who presided - rejected the claim saying the chairman had informed of his inability to attend due to other work and likewise two other directors were also unable to attend.

A comprehensive judgement was handed down by the Supreme Court this week directing Jacobi Carbons, a Swedish company manufacturing activated carbon to comply with conditions stipulated in their agreement with the Board of Investment (BOI) regarding the use of local raw materials.

Last week’s sale of the former Australian High Commission premises has raised questions as to whether L. B. Finance got it cheap in a prime area that commands around Rs 6 million per perch price but real estate developers say building restrictions may have led to the discounted price.