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- www.ft.lk - Category : Business - Relavancy : 0.17103007

By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...

- www.ft.lk - Category : Business - Relavancy : 4.138874

The National Chamber of Commerce of Sri Lanka will hold a half day Seminar on EPF/ETF  and Employee Benefits on Tuesday 18 September from 1.30p.m to 5.30p.m at  the NCCSL  Auditorium, 450 D.R. Wijewardene Mawatha, Colombo 10. The objective of this seminar is to explain the benefits

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- www.ft.lk - Category : Business - Relavancy : 0.21378759

By Cassandra Mascarenhas The Government eServices project spearheaded by the ICT Agency of Sri Lanka celebrated a landmark achievement last evening, launching 22 important eGovernment services, further strengthening the country’s Government sector by making public services easily accessible to the citizens of Sri Lanka via the internet and mobile communication systems. Presidential Secretary...

- www.ft.lk - Category : Business - Relavancy : 0.15297395

UNP MP Dr. Harsha de Silva yesterday issued the following statement on the new appointments to the Securities and Exchange Commission (SEC): Is the Government’s message to go ahead and engage in fraud at the CSE without worrying about getting caught?  If the Minister of Finance was genuinely concerned in re-establishing a fair and equitable ...

- www.ft.lk - Category : Business - Relavancy : 0.09560872

The rebound in the Colombo stock market gathered further momentum yesterday, with retailers remaining and those with improved sentiments reinvesting gains from mid-day profit taking. The latter was evident as the market originally rose sharply with ASI up 0.8% and MPI by 1.1% and thereafter slowed down before gaining upwards once again. Throughout the day, ...

- www.ft.lk - Category : Business - Relavancy : 0.076486975

 Commissioners given freedom to decide future course with regard to DG post Dr. Jayasundera says top professionals picked to give leadership to a sound capital market growth Priyantha and Sujeewa served as Commissioners under Indrani Sugathadasa as well Opposition and certain market segments decry choice of men given their conflicting roles By Nisthar Cassim Likely ...

- www.ft.lk - Category : Business - Relavancy : 0.13385221

Point of view By a market participant The investors were compelled to wait nearly 17 years to reap the benefit of a real bull run in 2009 after the elimination of the LTTE terrorism and how the SEC destroyed it within a one-and-a-half year period due to ill conceived, irresponsible decisions is well known and ...

- www.ft.lk - Category : Business - Relavancy : 0.038243487

By Cassandra Mascarenhas The technical sessions of the Association of Professional Bankers’ 24th anniversary convention were held yesterday, bringing the APB’s flagship event to a close. Aptly themed ‘Sustainability in volatility: The bankers’ challenge,’ each technical session explored an area that could throw obstacles in the path of bankers and the line-up of speak...

- www.ft.lk - Category : Business - Relavancy : 0.15297395

By Ashwin Hemmathagama Our Lobby Correspondent The Government has been repeatedly mentioning that the economy is in sound condition and reserves are very securely and lucratively invested. However, UNP MP Ravi Karunanayake moving yesterday’s adjournment motion accused the Government of robbery." “On examination of the state of the economy we find that the Government, especially ...

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- www.ft.lk - Category : Business - Relavancy : 0.11473046

D.E.W. Gunasekara says it is routine with 2010 Annual Report as subject; Ravi K says will take up reversed NSB-TFC deal and other stock market illsThe Chairman and Commissioners of the Securities and Exchange Commission (SEC) will appear before the Committee on Public Enterprises (COPE) today when Opposition is likely to query on ill doings ...

- www.ft.lk - Category : Business - Relavancy : 0.4381342

A country could be considered as prosperous only when its artistes and working class are leading a satisfactory life. It is the duty of the Government and the Opposition to ensure that workers rights are safeguarded. From time to time, benefits should be revised and proper relief measures be taken at times of distress. At ...

- www.ft.lk - Category : Business - Relavancy : 0.19121744

UNP MP Dr. Harsha De Silva yesterday warned that a clear trend of the fallout from the gambling of public money had emerged with the latest ruling from a London Court hot on the heels of losses suffered from equity market and European junk bond deals. “The London Court ruling is a further confirmation of ...

- www.ft.lk - Category : Business - Relavancy : 0.40488017

 Renews call for Select Committee to probe shady deals; wants EPF investments in stocks halted Blasts President-Bourse forum Says CSE Board must be dissolved Akin to firing all cylinders, Opposition Leader Ranil Wickremesinghe has blasted President Mahinda Rajapaksa’s forum with capital

- www.ft.lk - Category : Business - Relavancy : 0.60732025

Dear Editor, For months MP Dr. Harsha de Silva has been screaming about the EPF investments in dud shares. Now with the market virtually down to the ground, many of those shares have very little value, to say the least. The workers will have to bear the brunt of it. The next shock that shocked ...

- www.ft.lk - Category : Business - Relavancy : 0.05736523

By a Special Correspondent A year or back from today, Sri Lankan economy had been sailing strongly amidst global economic typhoons. Most of the macro variables were reflecting peace dividends and rejuvenated hope. However, by mid 2011, the country’s trade deficit, fuelled by credit expansion was signalling early signs of an economic turmoil. Perhaps being ...

- www.ft.lk - Category : Business - Relavancy : 0.19121744

The bearish stock market’s struggle persisted yesterday despite expectations of a rebound in sentiments following the dialogue between capital market stakeholders and President Mahinda Rajapaksa on Friday. The benchmark ASI closed six points down (0.13%) and MPI by over 23 points (0.5%) whilst S&P Sri Lanka 20 dipped by six points. Turnover was a modest ...

- www.ft.lk - Category : Business - Relavancy : 0.11473046

Subsidiary LOLC Investments signs deal with Ajith Devasurendra to buy balance 50% stake in Diriya Investments, the ultimate holding company of diversified blue chipLanka Orix Leasing Company Plc (LOLC) yesterday announced moves to get control of diversified blue chip Brown and Company Plc for Rs. 1.32 billion. LOLC’s fully-owned subsidiary LOLC Investments Ltd. has signed ...

- www.ft.lk - Category : Business - Relavancy : 0.60732025

Considerable controversy has arisen regarding Employment Provident Fund (EPF) investment in the Colombo Stock Exchange (CSE).  There have even been calls to stop all such investments. It is important, however, to remember that there are positive arguments in favour of such investments

- www.ft.lk - Category : Business - Relavancy : 0.42586145

Last week in Parliament, Opposition Leader Ranil Wickremesinghe singled out Daily FT in his usual criticism on newspapers. Among various allegations made by Wickremesinghe was that the FT is one of the papers which is in the pay of the so-called “stock market mafia” and the Central Bank. Wickremesinghe also alleged that FT was one ...

- www.ft.lk - Category : Business - Relavancy : 0.5061002

Financial accountability is accompanied by a question mark in Sri Lanka. A host of challenges from the Golden Key scandal to improper auditing of State assets, including the transparent management of Employees Provident Fund (EPF), have regularly hit headlines for years. In addition

- www.ft.lk - Category : Business - Relavancy : 0.13521114

It is with great pleasure and keen interest that I associate myself with a wide range of distinguished stake holders in the inauguration of this workshop under the patronage of Institute of Policy Studies of Sri Lanka (IPS), World Bank and Department of National Planning. It is expected through this consultation process to provide a ...

- dailymirror.lk - Category : Business - Relavancy : 2.9563384

Sri Lanka’s Main Opposition, United National Party (UNP) yesterday claimed that the state-controlled pension fund Employees’ Provident Fund’s (EPF) share portfolio at the Colombo Stock Exchange (CSE) has made losses to the tune of a staggering Rs.12.2 billion.

- www.ft.lk - Category : Business - Relavancy : 4.7301416

The Employees’ Provident Fund (EPF) yesterday welcomed the clarification made by Standard and Poor’s (S&P) that there was “no information of any specific incidences occurring” of “a potential conflict of interest” due to the Central Bank’s oversight

- www.ft.lk - Category : Business - Relavancy : 0.13385221

Perhaps to calm a boiling banking industry over its assessment or in an apparent move to give greater clarity to its rational Standard and Poor’s has addressed some contentious issues to provide better read though Central Bank and Sri Lanka Bank Association have refuted the original report. In a Credit Frequently Asked Questions (FAQ) titled ...

- www.ft.lk - Category : Business - Relavancy : 0.13247932

Standard & Poor’s Ratings Services recently assigned Sri Lanka to its Banking Industry Country Risk Assessment (BICRA) group ‘8’.  That was S&P’s first assessment of Sri Lanka’s banking industry under its BICRA methodology. This article addresses questions investors and market participants may have about S&P’s rationale for assigning Sri Lanka t...

- www.ft.lk - Category : Business - Relavancy : 3.5476062

Calls for Govt. to table details of investments in listed securities from January 2010 to April 2012 Says the two funds and Central Bank come under Finance Ministry and accountable to Parliament In a strong move, Opposition Leader Ranil Wickremesinghe yesterday urged the Government to table in Parliament full details of all investments in listed ...

- www.ft.lk - Category : Business - Relavancy : 0.5061002

By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard

- www.ft.lk - Category : Business - Relavancy : 0.108168915

Positive macro news and rumoured overhauling of SEC among other State entities trigger buying spree; some analysts insist rebound is due to attractive pricingThe Colombo Bourse on Friday shot up by over 100 points before losing some momentum, with the earlier development being linked by some analysts to positive macro news and a rumoured overhauling ...

- www.ft.lk - Category : Business - Relavancy : 0.0993595

By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...

- www.ft.lk - Category : Business - Relavancy : 0.15297395

UNP MP Ravi Karunanayake has written to Committee On Public Enterprises (COPE) Chairman D.E.W. Gunasekara requesting him to summon officials of the Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE) over the fiasco in capital markets and boost investor confidence. Following is Karunanayake’s full letter to the COPE Chairman: Over the last ...

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