HOT NEWS
 
 

The 45,000 flower pots, which lined the frontage of Temple Trees bordering Galle Road, were removed yesterday as maintaining the foliage involved a substantial cost. The flower pots, put in place by the former government during CHOGM, had cost Rs. 3 million. In addition, Rs. 50,000 had to be spent per month to water them daily. Replacing 3,000 withered plants on a monthly basis meant more money. Botanists had recommended that the soil in the pots be changed at considerable expense. Soldiers are pictured here removing the flower pots, which were taken to the Gampaha Botanical Gardens, where the foliage will be cared for.
  (Pic by Jude Denzil Pathiraja)

Central Bank to move Supreme Court to take over GK management

Will formula a mechanism to repay depositors


by Suresh Perera

The Central Bank will be moving the Supreme Court (SC) to take over the management of the failed Golden Key and formulate a mechanism to reimburse depositors, a high-ranking official of the regulatory body said yesterday.

"We will be appealing to the SC through the Attorney General’s Department next week to acquire the operations of this company, which collapsed in 2008", he said.

The Fundamental Rights (FR) plea filed by a group of GK depositors will resume before the SC on March 11, 2015.

He said that the Central Bank will examine the possibility of liquidating assets and repaying investors if the SC gives the green light to directly intervene and take over the management of this Ceylinco subsidiary.

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BMICH has no funds to pay compensation to Samitha

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The BMICH, which was ordered to pay Rs. 180 million as compensation by the Colombo District Court on Friday, says the institution is cash strapped and funds will have to be raised from elsewhere to pay Dr. Samitha Samanmali. "With an annual tur...

Unusual politics:
SLFP-UNP cohabitation in the south, and TNA power struggle in the north

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The north and south are different again. The SLFP and the UNP are uneasily cohabiting in the current parliament. The minority UNP is running the government and the majority SLFP is constrained to go along with it. The situation is unprecedented and unu...

Sri Lanka has golden opportunity for institutional reforms: Eran

Investors should look at Sri Lanka from long term perspective and take into account that fundamental institutional reforms are underway which will improve investor protection and rule of law, Deputy Investment Minister Eran Wickramaratne said. Sri Lank...

Palitha Perera’s new book out

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Palitha Perera, the pioneer of Sinhala language cricket commentaries in Sri Lanka, has launched his second book titled ‘Amaraneeya Cricket Andara’ (Memorable Cricket Tales). The book will give cricket fans a fascinating set of s...

 
 
 
 

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Which Sri Lankan cricketer should be inducted into ICC Hall of Fame first?
 
 
Duleep Mendis
 
 
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Aravinda de Silva
 
 
Sanath Jayasuriya
 
 
Muttiah Muralitharan
 
 
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