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- www.ft.lk - Category : Business - Relavancy : 3.547607

Parliament told EPF has lost Rs. 4.2 b in value over investments in five listed companies alone Last audited accounts of EPF presented in Parliament was for year 2009 only The main Opposition UNP yesterday in Parliament stepped up its charge on alleged mismanagement of funds of the EPF

- ceylontoday.lk - Category : Business - Relavancy : 0.6073204

Central Bank of Sri Lanka yesterday vehemently denied allegations by United National Party (UNP) Parliamentarian and Economist Dr. Harsha de Silva that Employeesandrsquo; Provident Fund (EPF) was engaged in corrupt deals in the Colombo Bourse.andnbsp;

- www.ft.lk - Category : Business - Relavancy : 3.547607

The Employees’ Provident Fund (EPF) yesterday categorically rejected the statement allegedly made by an Opposition Member of Parliament as reported in several news papers on 15 May 2012, where the EPF has been accused of fraudulent transactions in the stock market. "Such statement, read

- www.ft.lk - Category : Business - Relavancy : 0.066926114

A high-risk strategyMicrofinance seems the flavour of choice among financial service providers today in Sri Lanka. Almost all financial service providers ranging from licensed commercial banks, finance companies, Non-Government Organisations, cooperatives, money lenders, pawn brokers, cheetu schemes (Rotating Savings and Credit Associations – ROSCAs), registered voluntary social service orga...

- ceylontoday.lk - Category : Business - Relavancy : 2.9563391

Central Bank of Sri Lanka today denied allegations by Dr. Harsha de Silva that Employeesandrsquo; Provident Fund (EPF) that it was engaged in corrupt deals in the Colombo Bourse.

- colombopage.com - Category : Breaking News - Relavancy : 0.6073204

May 21, Colombo: The Employees' Provident Fund Department of Sri Lanka's Central Bank today rejected the allegations of fraud involving the retirement fund ,Employees' Provident Fund (EPF) made by an opposition legislator in the parliament recently.

- news360.lk - Category : Breaking News - Relavancy : 2.9563391

Sri Lanka’s largest retirement fund, the EPF today blamed an opposition MP for trying to tarnish its reputation and also trying to destabilize the economy through such a strategy. However the EPF did not name the Opposition MP. Issuing a statement, the EPF rejects the accusation

- www.ft.lk - Category : Business - Relavancy : 0.114730485

Business tycoon Harry Jayawardena-controlled Distilleries Company Plc is the biggest private sector shareholder in People’s Leasing Company Plc., after the latter went public via the biggest ever IPO in post-war Sri Lanka. With 24.5 million shares Distilleries account for 1.57% stake in People’s Leasing Plc. At the issue price of Rs. 18 per share, Distilleries ...

- www.ft.lk - Category : Business - Relavancy : 0.27042234

The National Chamber of Commerce of Sri Lanka will hold a Workshop on ‘Industrial Relations and Labour Laws’ from 9a.m. to 4.30p.m. on Tuesday 22 May at the Chamber Auditorium No 450 D.R. Wijewardene Mawatha, Colombo-10. Resource person will be Ananda Sahabandu, an Assistant Commissioner of   Labour. Sahabandu is also an Attorney at Law having ...

- www.ft.lk - Category : Business - Relavancy : 2.9563391

Noting that the NSB-TFC deal is peanuts, the main Opposition UNP yesterday declared that the bigger problem was questionable investments by the EPF and demanded immediate answers from a 'dodgy' Government. Following is the full text of the statement issued yesterday by UNP MP

- www.ft.lk - Category : Business - Relavancy : 0.3311984

It is very tragic that Sri Lanka may lose the confidence of the business world both locally and internationally courtesy of the Government-appointed nominees of the State. I like to highlight just two such incidents with no bias. The first was the rundown of foreign reserves. The Central Bank went on saying there is no ...

- thesundayleader.lk - Category : Breaking News - Relavancy : 0.07648699

A great deal may be done by severity, more by love, but most by clear discernment and impartial justice. -Johann Wolfgang von Goethe-Justice as quoted by Eckerman This column dedicated to the notion of making Sri Lanka the Wonder of Asia turns its spotlight on that great trait of judicial activism as sometimes exhibited by ...

- www.ft.lk - Category : Business - Relavancy : 0.13385223

Former Attorney General Mohan Peiris PC is tipped to be appointed as the new Chairman of the Seylan Bank. The appointment on a non-executive capacity follows the resignation of veteran banker Eastman Narangoda at Seylan’s Annual General Meeting for 2011 held last month after a three year stint. Peiris is currently the Senior Legal Advisor ...

- www.ft.lk - Category : Business - Relavancy : 0.04780437

Parliamentary accountability The Parliament, as the country’s foremost representative institution, has the sole authority over national resources and financial allocations and concurrently has a prominent role to play in fiscal responsibility, the budgetary process, economic development and effective transparent economic and financial management, with a view to assuring sustainable growth an...

- www.ft.lk - Category : Business - Relavancy : 0.15297398

The UNHRC resolution was very unfortunate. This is the first time our country has been subject to this kind of scrutiny. As a fan of the President, it is very unfair that he has been subject to such humiliation. The President has been let down by his advisors. In the recent weeks we have seen ...

- www.ft.lk - Category : Business - Relavancy : 0.15297398

Veteran banker Eastman Narangoda is tipped to step down as the Chairman of Seylan Bank at its Annual General Meeting scheduled for today. The move is despite Narangoda being listed in AGM’s agenda for re-election as Chairman and Director as he retires by rotation in terms of Article 82 of the Articles of Association of ...

- thesundayleader.lk - Category : Breaking News - Relavancy : 0.15297398

The bourse breathed a sigh of relief at Friday’s trading on the knowledge that sanctions, at least in the immediate future will not be imposed on the island despite Thursday’s Human Rights (HR) resolution against Sri Lanka at Geneva which resulted in it returning a higher Rs. 926.9 million turnover on Friday compared to low ...

- thesundayleader.lk - Category : Breaking News - Relavancy : 0.13247935

Avurudhu Rupee Commitments Bear on Exporters The exchange rate (ER) held at the Rs. 130 levels to the US dollar ($) at Wednesday’s, Thursday’s and Friday’s trading as exporters began encashing their $ proceeds to meet their local commitments, a market source told this reporter. “In the event they persisted in holding on to their ...

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- www.ft.lk - Category : Business - Relavancy : 0.10816894

The country’s forex market encompassing highly dependent importers and key source exporters was yesterday rocked by what analysts described as the sharpest day gain in the US dollar exchange rate. Before mid-day the Rupee touched a new low of Rs. 127 and then on to Rs. 128 prompting many to assume the rate had bottomed ...

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- www.ft.lk - Category : Business - Relavancy : 0.4048803

Instead of 'Employees', one could call it the ‘Empathetic’ Provident Fund (EPF) considering its unprecedented move of sharing the mega sale of 8.4% stake or 71 million shares in premier blue chip JKH for Rs. 13.77 billion (Rs. 194 per share) on Friday to Malaysia’

- www.ft.lk - Category : Business - Relavancy : 0.15297398

The entry in to Sri Lanka by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad via John Keells Holdings (JKH) is being hailed as a all round boost for the country, the Colombo stock market as well as the premier blue chip. JKH which has many first to its credit is also the first stock on ...

- itnnews.lk - Category : Breaking News - Relavancy : 4.138875

The Employees Provident Fund gets a profit of 800 million rupees.   The Employees Provident Fund which possessed 71 million shares of conglomerate John Keells Holdings had been sold at 194 rupees per share, bringing a capital gain to the Fund. These shares have been purchased by Malaysia’s Khazana Nasional Berhard, a sovereign wealth Fund. ...

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- www.ft.lk - Category : Business - Relavancy : 0.114730485

SLIC books hefty Rs. 4 b capital gain as an eager Harry secures large block; Ups control to 40.8%; Melstacorp to revise Spence mandatory offer price to Rs. 115 per share from Rs. 113 Business tycoon Harry Jayawardena-linked Melstacorp Ltd. yesterday acquired a strategic block of an 11% stake in Aitken Spence Plc for Rs. ...

- www.ft.lk - Category : Business - Relavancy : 0.13385223

Locals may be having fears of the Geneva outcome but the very investors from the West are continuing to be bullish with net inflow topping the Rs. 3 billion mark by yesterday. Foreigners were net buyers to the tune of Rs. 224 million increasing the net inflow under just two months of the year to ...

- www.ft.lk - Category : Business - Relavancy : 0.057365242

Benito Mussolini, the fascist ruler of Italy, during World War II, said that his brand of fascism ‘should be more appropriately called Corporatism, because it is a merger of state and corporate power’. Compare this with the dictionary definition of capitalism: ‘A system in which a country’s business and industry are controlled and run for ...

- www.ft.lk - Category : Business - Relavancy : 0.16225341

The Colombo Bourse last week saw a net foreign inflow of Rs. 1.2 billion, with Aitken Spence Plc drawing the most buying, whilst brokers expect the non-national interest to grow further. Spence saw net foreign shareholding increase by 4.8 million shares or 1% last week, whilst overall nearly five million of its shares traded for ...

- www.ft.lk - Category : Business - Relavancy : 0.50610036

Contrary to exaggerated claims the EPF investments in to the stock market last week had amounted to only less than 10% of market activity and unlike some past contentious buys, this time around it had focused on blue chips. The total turnover of the Colombo bourse last week was Rs. 8.6 billion

- www.ft.lk - Category : Business - Relavancy : 0.4048803

ASI gains by 5% as Bourse’s value swells by Rs. 96 b Brokers positive after fresh meeting with SEC EPF, private institutional and high networth investors active on attractive valuations The Colombo stock market yesterday produced a major rebound gaining by 5% thanks what some described

- www.ft.lk - Category : Business - Relavancy : 0.13385223

Hayleys MGT Knitting Mills (MGT) yesterday announced plans to raise Rs. 914 million via a 2 for 1 Rights Issue at Rs. 9 per share. Subject to shareholder and regulatory approvals, funds raised from the Rights Issue will be utilised to strengthen the company’s balance sheet; invest in equipment to manufacture higher value fabric; invest ...

- www.ft.lk - Category : Business - Relavancy : 0.11591943

The Sri Lankan economy is dragged out – the country is over-borrowing, underperforming and leading into a debt crunch, claims United National Party Colombo District Parliamentarian Ravi Karunanayake. Karunanayake accuses the Rajapaksa administration of damaging the country’s social fabric, which he says is Sri Lanka’s biggest asset. Following are excerpts of an interview: Q: What...

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