By Ian The President in his speech at the opening of the Southern Expressway said that this could be the beginning of building a modern society. He also mentioned that had there been such an expressway linking the north with the south the extremists would not have succeeded in capitalising on the mistrust among communities. ...

The Brokers are said to meet with the President on Monday the 28th. Wish them luck though some of them should be saying “mea culpa”. The euphoria after the war led the brokers and the financial journalists to create too much expectation. So the Colombo stock market rose by 96% in 2010 as indicated by ...

Professionals stressed the importance of attracting foreign direct investment (FDI) into the country to usher in much needed development and also to help in foreign debt servicing and to take away pressure on interest rates. Former Central Bank of Sri Lanka Director Statistics Dr. (Mrs.) Anila Dias Bandaranaike speaking at a CIMA sponsored budget seminar ...

  IMPRUDENT INVESTMENTS CITED By Jayantha Sri NissankaTrade unions charge that the Employees Provident Fund (EPF) has incurred a loss of Rs1000 million investing in the stock market, and through two transactions that took place recently.Inter Company Employees Union Secretary, Janaka Adikara

Debate on the the 2nd complete UPFA budget since the conclusion of the war in 2009 May, is now on both within the parliament and without. Heavy weights both critical and positive about this budget, have access to media. The debate is about urban middle class life and the Western Province economy. Not much is ...

What are the prospects for the Stock market in the near future? The IMF thinks that the growth rate this year will be closer to 7% rather than 8%. The third quarter company earnings are now being released. Here are some results: Good performers Distilleries Profit growth @ 78; Kelani Cables 259%; LOLC 68%; LWL ...

Nov 17, Colombo: Private sector trade unions in Sri Lanka have commenced a campaign to create awareness among the public on the alleged misuse of the retirement fund of the country's workforce, Employees' Provident Fund (EPF) monies by the government.

Arrangements are in place to re-open the Embilipitiya Paper Factory. The Embilipitiya Paper Factory comes under the Minister of State Resources and Enterprise Development. It has been leased out to an Australlian Company for 30 years for a sum of 600 million rupees. The signing of the lease agreement took place in the presence of ...

By: R. M. B. Senanayake The stock market swings 50-100 points each way while the general trend is downwards. Many retail investors have lost money and are now fighting shy of investing in the market. In any case they were more speculators rather than investors. They were led up the garden path by high net worth ...

By: R. M. B. Senanayake The EPF has defended their investments in the stock market. But it has missed the point of the criticism leveled by the public.  No one is opposing the EPF investing in the stock market. But the EPF should not gamble with the workers money for they are trustees

Nov 02, Colombo: Sri Lanka's monetary authority, Central Bank says the retirement fund of the country's workforce, Employees' Provident Fund (EPF) is focused on providing long term growth and advised the millions of stakeholders of the fund not to be misled by 'vituperative and negative

The Employees Provident Fund has defended its recent investment moves where it purchased shares of various listed firms through the Colombo Stock Exchange and also made investments in some unlisted firms. EPF says these investments are essential in an era where interest rates are likely to decline

Oct 30, Colombo: Labor Minister of Sri Lanka Gamini Lokuge says there is no problem in Employees Provident Fund (EPF) monies being invested in the Colombo Stock Exchange (CSE).

(Lanka-e-News -29.Oct.2011, 3.30AM) The President of the inter Companies workers Association , Vasantha Samarasinghe addressing a media briefing at the Nippon Hotel on the 27th....

Oct 28, Colombo: Sri Lanka's Marxist party Janatha Vimukthi Peramuna (JVP) affiliated Inter Company Employees' Union (ICEU) says that authorities were swindling monies of the working masses in the Employees' Provident Fund (EPF).

The main opposition in Sri Lanka has accused the government of making "secret deals" in the stock market forcing the market to collapse. The United National Party (UNP) said the employees' provident fund (EPF) lost nearly SLR 30 million ($270,000) as a result of such deals in the marker

UNP parliamentarian Dr. Harsha de Silva said that the Employees Provident Fund (EPF) that functions under the Central Bank has incurred a Rs. 270 million loss last week since the Fund had not followed the proper investment procedures.

Commonwealth Games’ Bid The ethics of Government of Sri Lanka’s (GoSL’s) decision to request public banks to make a contribution to strengthen GoSL’s bid to hold the Commonwealth Games in Hambantota in 2018 are being questioned by certain quarters. One banker told this reporter that as banks are custodians of depositors’ funds, it’s not right ...

Central Bank Governor Ajith Nivard Cabral has said that they had no intention of vesting the Employees Provident in another party. He was speaking at the relocation of the EPF Department at a new venue. The Employees Provident Fund Department has been relocated in the Lloyds Building at Sir Baron

Employees Provident Fund has purchased 33 million ordinary voting shares of the Laugfs Gas PLC from Laugfs Holdings Limited. The transaction took place today and a share has been sold at Rs. 48. Consequent to this sale, Laugfs Holdings owned 260,000,000 million shares (260 Mln shares) of Laugfs Gas PLC. However, following the transaction, the share amount held ...

Sri Lanka’s Employees Provident Fund’s asset value is expected to reach the Rs. 1 trillion mark during this year, announced the Central Bank. The Bank says as of 31st of August this year the total assets of the EPF have grown up to Rs 976 billion. According to the Central Bank this is an annual

As at 31 August 2011, the value of total assets of the Employees’ Provident Fund (EPF) reached Rs. 976 billion, recording an annual growth of 14.6%. With this growth, the EPF is expected to reach the total assets value of Rs.1 trillion by end of 2011.

Management inefficiency has led to the Employees Provident Fund (EPF) failing to collect as much as Rs.666 million in terms of contributions and surcharges from employers in 2009,

The UNP says payment of salaries to employees of a state institution has been delayed while benefit payments have been delayed since 2007. UNP parliamentarian Dayasiri Jayasekera has said while salaries of employees at Salu Sala have been delayed, their Employees’ Provident Fund (EPF) and Employees

By Harsha de Silva We understand that the Securities and Exchange Commission (SEC) is planning to compound undisclosed securities fraud by some billionaire investors. Media reports have begun to circulate that Environmental Resources Investments (ERI) and its Directors have agreed with the SEC to pay an insignificant fine of Rs. 10 million and compound an ...

Trade unions affiliated to Samurdhi have warned of trade union action if Economic Development Minister Basil Rajapaksa fails to address the grievances of the Samurdhi employees. They have expressed concern over the job security of Samurdhi employees following the government’s decision to bring the Samurdhi Authority and a few other state institutions under the proposed ...

The UNP affiliated Jathika Sevaka Sangamaya (JSS) has accused the Transport Ministry of trying to use billions of rupees of the SLTB employees’ EPF and ETF funds to purchase new buses. The JSS says the Ministry is trying to spend Rs 1.9 billion from EPF and ETF funds to purchase 500 new buses. Head of ...

Aug 20, Colombo: The trade union affiliated to main opposition United National Party (UNP), the Jathika Sevaka Sangamaya (JSS) has accused the Transport Ministry of trying to use billions of rupees of the Sri Lanka Transport Board employees' EPF and ETF funds to purchase new buses.

Aug 11, Colombo: The Employee's Provident Fund (EPF) of Sri Lanka has come to an agreement with the Commercial Bank to speed up the fund's services.

June 08, Colombo: Sri Lanka Opposition and main opposition United National Party (UNP) Leader Ranil ..