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Nov 16, 2011 (LBT) - Sri Lanka’s new law that enables the government to take control of businesses could hinder investment in the country, although much will depend on the scope of the law, Fitch ratings agency said.
Meanwhile, Sri Lanka's Supreme Court yesterday (15) refused to grant leave to proceed with six different Fundamental Rights violation petitions challenging the Expropriation Bill titled ‘an Act to provide for the vesting in the State identified Underperforming Enterprises and Underutilised Assets Act’.
Rating agency Moody's also said that "the government's seizure of assets creates ambiguity around the protection of private property in Sri Lanka,”http://www.lbt.lk/news/economic/729-fitch-warning-
Meanwhile, Sri Lanka's Supreme Court yesterday (15) refused to grant leave to proceed with six different Fundamental Rights violation petitions challenging the Expropriation Bill titled ‘an Act to provide for the vesting in the State identified Underperforming Enterprises and Underutilised Assets Act’.
Rating agency Moody's also said that "the government's seizure of assets creates ambiguity around the protection of private property in Sri Lanka,”http://www.lbt.lk/news/economic/729-fitch-warning-
