@2022 - All Right Reserved. Designed and Developed by Rev-Creations, Inc
151 results found in 1438 ms
Page 4 of 6
EPF and stock market I was sad to see in the FT that EPF has begun to purchase stocks in the market again. Is it to give the market a boost or is it to fatten someone’s pocket again, as some people claim? It was not very long ago that the fund made so much ...
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
EPF, which returned to the market on Monday, was most active yesterday as well. It picked up available quantities of JKH, Bukit Darah, Carsons, Dialog, CT Holdings, Cargills, Asian Hotels, CIC Holdings and LOLC among others, whilst ETF too remained active collecting select stocks
Stock market plunges further; Rs. 69 b in value wiped off One year loss of value is a staggering Rs. 766 b EPF and foreign buying saves Bourse after near 5% crash Rupee dips to all-time low of Rs. 120; likely to settle down though triggering panic in import trade Crisis could be an understatement ...
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 ...
The Inter Company Employees’ Union (ICEU) affiliated to the Janatha Vimukthi Peramuna (JVP) has written to the Labour Commissioner about the risk of employees at the Pelwatte Sugar Company losing their jobs and requested an urgent meeting to discuss several key issues. ICEU Head Wasantha Samarasinghe has stated in the letter that the Pelwatte Sugar ...
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...
To focus on skills development, trade, investment, sustainable development and business excellence to sustain GDP growth rate of 8%Following is the address delivered by National Chamber of Commerce of Sri Lanka President Asoka Hettigoda at the NCCSL’s 53rd Annual General Meeting Ayubowan, good evening. Let me extend a warm welcome to all of you to ...
The audited accounts of the EPF for the year ending 2010 have finally been submitted to Parliament yesterday, which the UNP said was a direct result of its expose’ and the subsequent pressure applied on the Government for the immediate submission of the same. “We will now review
The Leader of the House Nimal Siripala de Silva yesterday informed the Parliament that three Private Sector Pensions Scheme Acts have been withdrawn by the Government. The move was widely seen as a response to strong opposition to the proposed moves. However the EPF Amendment Bill
The United National Party (UNP) yesterday submitted a request to the Committee on Public Accounts (COPA) to urgently summon all officials of the Central Bank and Labour Ministry to answer questions on the management and performance of Employees Provident Fund (EPF). This request was officially
(EPF) that will be presented in Parliament today, ...
The controversial Employees Provident Fund (EPF) Amendment Bill will be presented to Parliament on 18 January. Minister of Labour and Labour Relations Gamini Lokuge points out that there are no hidden agendas behind the bill and it was unanimously agreed during the tripartite meeting to go ahead
THE proposed amendments to the Employees Provident Fund (EPF) have created a much-needed discussion forum on pension funds and their benefits, while also bringing several crucial points into the limelight. Experts have pointed out that if the Government is genuinely keen on maximising returns
The commercial Bank of Ceylon recently presented its latest facility for paying Employees’ Provident Fund (EPF) dues via ‘Paymaster,’ the bank’s the innovative electronic total payment solution, to a representative audience from the corporate sector
If the Governor of Central Bank has an urge to enter politics, he should come to Parliament without playing politics inside the CB, charges United National Party Parliamentarian and well-known Economist Dr. Harsha de Silva. Dr. de Silva notes that Governor Nivard Cabraal should respect the sanctity of the Central Bank and therefore if Cabraal ...
The UNP yesterday demanded that the annual accounts of the Employment Provident Fund for 2010 be immediately released. “The Government has no moral right to bring an amendment to the EPF Act not having submitted its accounts since 2009 and dodged the numerous questions
The proposed amendments to the EPF Act would confuse demarcations between it and the Employees’ Trust Fund, claims UNP MP Dr. Harsha de Silva. Clause 4 of the new Amendment allows the EPF to extend housing benefits and medical treatment to every member of the fund
Charges another attempt to resurrect controversial private pension plan, accuses CB of bad governance in EPF Wants Amendment postponed and all stakeholders consulted Says country’s largest fund should not be used for 30-storey high rise By Uditha Jayasinghe The Central Bank and the Government
A business leader present at yesterday’s unveiling of 2012 and beyond roadmap by the Central Bank remarked that it was a “height of optimism.” A tourism industry representative quipped Governor Cabraal’s statement that 197 hotel projects are in the pipeline wasn't true whilst a capital market player said that Central Bank Chief mischievously gave a ...
The Jathika Sevaka Sangamaya (JSS), a trade union affiliated to the main opposition United National Party (UNP), has threatened union action if salaries of employees attached to the electricity, water and petroleum sectors in the country are not raised. Head of the JSS, UNP MP Dr. Jayalath Jayawardena says the union would be compelled to ...
Dinesh tipped to be appointed Chairman; Dheerasinghe as Deputy; business leader Preethi new face on the Board Commercial Bank is slated to have a special Board meeting today, the second in three days, to elect a new Chairman. The move follows the resignation of longstanding Chairman and Board member Mahendra Amarasuriya, as exclusively reported by ...
Senior business leader and longstanding Board member Mahendra Amarasuriya yesterday resigned as Chairman of Commercial Bank Plc a move which is likely to evoke mixed reactions in banking and corporate circles. Amarasuriya, a highly respected corporate figure, announced his resignation during a Board meeting of Commercial Bank yesterday, throwing open the mantle of leadership at ...
The Pathfinder Foundation issued the following response to the IFC opinion piece on its Economic Alert No. 20 titled ‘Improving Sri Lanka’s Business Climate,’ published in the Daily FT: The Pathfinder Foun-dation (PF) is grateful to the International Finance Corporation (IFC) – World Bank (WB) office in Colombo for the substantive comments that it published ...
Senior business leader Harry Jayawardena-controlled Distilleries Company (DCSL) has triggered the Takeovers and Mergers Code on Aitken Spence Plc, the Daily FT learns. The triggering had taken place late last week when Melstacorp, a subsidiary of DCSL, had bought 62,100 Spence shares at Rs. 110 each. Spence’s number of shares in issue is 406 million ...
With reference to Pathfinder Foundation article titled ‘Improving Sri Lanka’s Business Climate’ published on 21 December, the International Finance Corporation (IFC)Country Manager – Sri Lanka and Maldives Adam Sack has sent the following response: I write with reference to the article above in yesterday’s Daily FT by the Pathfinder Foundation – in which there a...
Most recent Deputy Governor of the Central Bank K.G.D.D. Dheerasinghe has been appointed to the Board of Commercial Bank Plc as a Non Executive Director. The appointment with effect from 20 December was announced by the Commercial Bank yesterday whilst the Daily FT first broke the impending move a week ago. Dheerasinghe retired from the ...
The Pathfinder Foundation with the assistance of Volunteers for Economic Growth Alliance (VEGA) and USAID, recently commissioned a study to identify the policy and regulatory reforms that are required to make Sri Lanka a leading country in investor friendliness. Improving the business climate is not an end in itself. A better business environment is a ...