The Insurance Corporation of Sri Lanka (ICSL), now back
in government hands following a Supreme Court judgment, will join the
Bank of Ceylon (BOC) and the National Savings Bank (NSB) in infusing new
capital into the Seylan Bank further stabilizing that institution which
successfully weathered a run on its deposits following the Golden Key
collapse, authoritative official sources said yesterday.
The Central Bank(CB) which offered a third of Seylan to
prospective bidders willing to infuse new capital into it in return for
management control and going above the statutory limit on bank ownership
had reduced the original five bidders into just one – Lanka Orix Leasing
Company....
KP claims a "Government in
Exile" will be set up
The LTTE’s elusive and
self-proclaimed International Relations Chief Selvaraja Padmanathan
alias KP has squarely blamed India for the humiliating defeat of the
Tamil Tigers in the hands of the Sri Lankan security forces in the...
AG slams Parliament’s
disregard for financial procedures
A mega UNDP (United Nations Development Program) funded
project to modernize Sri Lanka’s Parliament has been severely criticized
by Auditor General S. Swarnajothi, who has also commented adversely on a
range...
