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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
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 ...
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...
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 ...
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, ...
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 ...
Last week’s weekly Treasury (T) Bill auction saw yields continuing with their upward ascent, with the weighted average yields (WAYs) for 182 and 364 day T Bills rising by seven and four basis points (bps) to 13.02% and 13.27% respectively. However the WAY for the 91 day T Bill stagnated at the 11.36% level, which ...
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 ...
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, ...
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
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 ...
Aug 15, Colombo: A private sector trade union in Sri Lanka is considering initiating legal action to call for an investigation into the investments made using monies from the private sector retirement fund, Employees' Provident Fund (EPF).
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...
Aug 12, Colombo: The private sector trade union in Sri Lanka, the Inter Company Employees' Union (ICEU) says the government is once again attempting to introduce a private sector pension scheme to pilfer the monies in the private sector retirement fund, Employees' Provident Fund (EPF).
Aug 10, Colombo: Attorney General of Sri Lanka has informed the Supreme Court yesterday that the opposition United National Party (UNP) parliamentarian Mangala Samaraweera has not deposited the Employees' Provident Fund (EPF) monies for the journalists and other staff of the website office
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
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 ...
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 ...
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 ...
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 ...
Aug 05, Colombo: Several trade unions in Sri Lanka are to meet tomorrow to decide on the action to be taken against the alleged misuse of Employment Provident Fund (EPF) monies.
A grouping of 22 trade unions from both the state and private sector are to meet on Monday to discuss an action plan in connection with the alleged misuse of workers Employment Provident Fund (EPF) monies. Anton Marcus with the Free Trade Zones & General Services Employees Union (FTZGSEU
Video: Only govt to rob money from EPF, ETF and savings bank -- Ranil
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 ...
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 ...
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
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 ...
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 ...
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
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 ...