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Sunday, December 28, 2008
      Editorial:Remember Nick Leeson?  Politics:The impending constitutional catastrophe  
Governor: "We can deal with any crisis of confidence’’
Financial system will be kept stable, assures Central Bank

Central Bank Governor Ajit Nivard Cabraal yesterday assured that the authorities will take all possible steps to avert any crisis of confidence in the financial services sector following the Golden Key Credit Card Company’s problems which led to Mr. Lalith Kotelawala announcing that he would "divest the investment" in the Seylan Bank.The Central Bank statement stressed that the Monetary Law Act No.58 of 1949 provides extensive powers to the Monetary Board of Sri Lanka to intervene in various ways where the stability of the financial system is at any risk at any time.

Under privileged children from around Colombo were hosted by religious leaders from Bambalapitiya on Christmas Day. The group of local monks, priests, nuns and other religious leaders presented about 150 children with stories, food and presents in the courtyard of the Nirmala Jesuit Church. There was a singing contest, and each child was called by name to receive bags of school supplies and other gifts. The atmosphere was, for the afternoon, full of laughter, singing, colorful clothing, and the popping of balloons. (Photo by Ann Raber)


Ceylinco Group to sell its Seylan shares to honour Golden Key dues
Mr. Lalith Kotelawala and the Ceylinco Group have decided to divest Seylan Bank shares owned by the group to raise funds to honour dues to Golden Key credit card holders, the Seylan Bank said in a news release last evening.

Be less generous to SLMC atPC polls says UNP Muslims
The SLMC and an influential Muslim group in the UNP are at logger heads over nominations for forthcoming elections to Wayamba and Central Provincial Councils.

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