Rear Admiral Sumith Weerasinghe appointed Navy Chief of Staff

Enjoining order against unregistered foreign insurance brokers

Colombo District Court Judge Sujeewa Nishanka has issued an interim injunction essentially forbidding any foreign company that is not registered as a company, or as insurance brokers, from offering any insurance related services in the country. The complainant in this case, Strategic Insurance Brokers (Sib) sought an enjoining order against J B Boda and Co of Singapore from holding itself out as an insurance broker. Strategic Insurance Brokers, a brokering Company located in Colombo had sought

26 Jan, 2018

Uva Provincial Council member Ganeshamurthi arrested

United National Party (UNP) Uva Provincial Council member?Arumugam?Ganeshamurthi was arrested today over allegations of financial fraud. The Police said that Ganeshamurthi was arrested following complaints being lodged at the Police alleging that he had obtained money from several individuals promising them employment overseas. Ganeshamurthi was granted bail?after being produced before the Badulla Magistrate.?(Colombo Gazette)

26 Jan, 2018

Finance Ministry documents account for only Rs 1 trillion received

President Maithripala Sirisena said of the out of Rs 10 trillion loans taken, only about Rs 1 trillion could be properly accounted for in the assets as per documents at the Finance Ministry. He made this revelation at a media briefing with newspaper editors and heads of media institutions at the Presidents House in Colombo today. Furthermore, a large sum of funds that should have been deposited with the treasury have gone to private companies and institutions and that has been done in a systema

26 Jan, 2018