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 ...

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.

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

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

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

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

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 ...

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 ..

June 08, Colombo: Sri Lanka Opposition Leader Ranil Wickremasinghe has said the government was trying to legalize pilfering monies from the EPF and ETF accounts.

May 28, Colombo: Amidst concerns raised by trade unions in Sri Lanka, the government has decided to amend the Employees' Provident Fund (EPF) and Employees' Trust Fund (ETF) Acts.

May 23, Colombo: Sri Lanka's main opposition United National Party (UNP) has said the government should contribute monies to the proposed private pension fund without utilizing the Employees Provident Fund (EPF) and Employees Trust Fund (ETF) funds.

More To Exit following UN Report The stock market continued to lose its momentum as predicted in the lead story on these pages in its last week’s edition, compounded by foreigners fleeing the market, made worse by the UN’s negative war report on the island. “There is panic selling by foreigners in the backdrop of ...

Banks’ Profits Up 111% The banking industry achieved a considerably high level of profits in 2010. Profit after tax amounted to Rs. 57.5 billion last year, a 111% growth in comparison to a Rs. 27.2 billion profit in 2009. The significant growth in profitability was mainly attributed to a higher increase in fee-based income, a ...

of the Yugadhanavi plant were the Treasury, the EPF, ...

were the Treasury, the EPF, Lanka ...

Feb 12, Colombo: Private sector trade unions in Sri Lanka have opposed the government's move to introduce amendments to the Employees' Provident Fund (EPF) Act.

No Investments With the market throwing up an excess liquidity of more than Rs. 120 billion day, day in day out, and signs being that investments have not picked up, are all favourable indicators for the prevalence of a low interest regime in the economy, a market source told this reporter. The market has no ...

Excess Liquidity, Small Forex Market Excess liquidity coupled with low volumes of foreign exchange traded have been continuing to bug markets here, which a source attributed as being are reflection of the low levels of economic activity taking place in the country. Despite a spike last Friday, the foreign exchange (forex) market has been averaging ...

President Rajapaksa as Minister of Finance presented the first budget in his second term as the Executive President, making proposals giving a major impetus to value addition of local industrial products, to improve export earnings while granting a wide range of concessions, increasing outsourcing facilities in Sri Lanka for foreign business enterprises. Thus the President, ...

Sri Lanka`s private sector trade union arm, Inter Company Employees` Union (ICEU) held protests toda..

Nov 15, Colombo: Sri Lanka's private sector trade union arm, Inter Company Employees' Union (ICEU) held protests today outside several private institutions against the proposed amendments to the Employees Provident Fund (EPF) and Employees' Trust Fund (ETF) Act.

The Inter Company Employees Union affiliated to the JVP is planning an island wide protest against t..

By Chamitha Kuruppu Reputed Economist and UNP Member of Parliament Dr. Harsha de Silva, while talking about the crony capitalism in the country, warns that the situation is only going to get worse within the new set up, where economic...