The Police will temporarily close several key roads connecting the route between the Old Parliament and the BMICH tomorrow as a part of traffic control rehearsals to be put into effect during the SAARC Summit. The regular traffic will be controlled along the Galle Road from Old Parliament to the Kollupitiya Junction as well as several other main roads leading to the BMICH between 9.45am to 11.30 and 12.30 to 2.00pm as result of this programme.
Japan's Olympus admitted on Tuesday it hid losses on securities investments dating back two decades, bowing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt. The revelations by the 92-year-old company appear to vindicate ex-CEO Michael Woodford, who has staged a campaign since being sacked on October 14 to force the firm to come clean on nearly $1.5 billion in questionable payments. Olympus President Shuichi Takayama blamed Tsuyoshi Kikukawa, who quit as president and chairman on October 26, Vice-President Hisashi Mori and internal auditor Hideo Yamada for the cover-up, saying he would consider criminal complaints against them. The admission after weeks of denials shocked investors, sending shares in the endoscope and camera maker skidding almost 30 percent and prompting the biggest non-Japanese shareholder to demand the replacement of the entire board. "Ignorance is no defense," said Jo...
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