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- www.ft.lk - Category : Business - Relavancy : 4.730244

The Opposition yesterday charged in Parliament that the Government was deliberately evading questions on the Employees Provident Fund (EPF) due to “shady investments” after the issue was postponed for a fifth time. United National Party (UNP) MP Dr. Harsha de Silva told the Daily FT

- www.ft.lk - Category : Business - Relavancy : 0.17103416

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 : 4.1389637

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 : 0.27042875

I am very disturbed by what I have read in your paper and in the independent media about what is going on in the stock market. Scandals and many unwanted deals have happened in the recent past. To name a few the Greek bonds loss, NSB being forced to buy a stake in bankrupt The Finance ...

- www.ft.lk - Category : Business - Relavancy : 0.2137927

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 : 0.1529776

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 : 0.095611

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 : 0.0764888

 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 : 0.1338554

Keheliya says Finance Ministry could probe SEC Chief’s claims; Harsha wants action By Uditha Jayasinghe In the wake of Securities and Exchange Commission Chairman Tilak Karunaratne resigning, the Government yesterday said that it would consider the possibility of introducing legislation to curb white collar crimes. Responding to questions at the weekly Cabinet briefing, Media Minister ...

- www.ft.lk - Category : Business - Relavancy : 0.22946641

By Lakmal Sooriyagoda Several leading private and State institutions have defaulted in the payment of Rs. 1.22 billion owed to their employees, according to Labour Department sources. The department has filed more than 3,600 Court cases against the employers who had violated regulations that come under the Budgetary Relief Allowances Act, Employees’ Provident Fund Act, ...

- www.ft.lk - Category : Business - Relavancy : 4.730244

UNP MP Dr. Harsha de Silva yesterday admitted that so far no investigations had commenced by SEC with regard to EPF’s investments in the stock market. “The UNP has proposed a Parliamentary Select Committee to investigate EPF dealings in the stock market,” he said in response

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- www.ft.lk - Category : Business - Relavancy : 0.1338554

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 : 0.0382444

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 : 2.9564025

Tabling a recent communication by the EPF accusing that attacks on the EPF have been stepped up since December 2011 by a “particularly vociferous US-linked anti-China opposition MP carrying out a contract for unspecified foreign interests to wrest control of the EPF to private parties

- www.ft.lk - Category : Business - Relavancy : 0.1529776

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 : 0.1529776

By Chamitha Kuruppu UNP Parliamentarian Sujeewa Senasinghe yesterday filed a Fundamental Rights case against the Central Bank Governor at the Supreme Court challenging the prudence of Greek bond investments.   Speaking to the Daily FT MP Senasinghe said, “I am seeking an interim injunction for them (the Central Bank) not to invest any more money ...

- www.ft.lk - Category : Business - Relavancy : 0.114733204

Independence from the Executive for the Securities and Exchange Commission (SEC) and greater powers as well as regulation were among issues which had surfaced at yesterday’s meeting between the capital market regulator and the Committee on Public Enterprises (COPE) as exclusively reported by the Daily FT. The need for a hands-off approach by the Executive ...

- www.ft.lk - Category : Business - Relavancy : 0.114733204

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 : 0.43814465

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 : 0.191222

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 : 0.4048888

 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 : 0.6073332

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 : 0.057366602

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 : 3.5476832

Central Bank has requested for six months time to furnish information sought by way of an answer to queries made by UNP MP Dr. Harsha De Silva over EPF’s investments in the Colombo stock market last week. Dr. De Silva expressed disgust over the time required since the controversial

- www.ft.lk - Category : Business - Relavancy : 0.191222

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 : 0.114733204

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 ...

- ceylontoday.lk - Category : Business - Relavancy : 4.730244

Economic think tank andndash; Pathfinder Foundation in its latestandnbsp; Economic Flash has pointed out that independence of Employment Provident Fund (EPF) should be ensured when andnbsp;investing in the Colombo Stock Exchange (CSE) adding that necessary safeguards should be in place to protect

- dailymirror.lk - Category : Business - Relavancy : 4.730244

Authorities must address criticisms over the adequacy of safeguards when investing in the Colombo Stock Exchange through the Employees’ Provident Fund (EPF) and make the entire process more transparent, according to a statement by a local think tank

- www.ft.lk - Category : Business - Relavancy : 0.6073332

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 : 0.4258716

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 ...

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