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The entry in to Sri Lanka by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad via John Keells Holdings (JKH) is being hailed as a all round boost for the country, the Colombo stock market as well as the premier blue chip. JKH which has many first to its credit is also the first stock on ...
- Khazanah kudos! (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
- Net foreign inflow tops Rs. 30 b; Bourse rebounds (Category: Business)
- Foreign craving for stocks grows; inflow tops Rs. 28 b (Category: Business)
The Employees Provident Fund gets a profit of 800 million rupees. The Employees Provident Fund which possessed 71 million shares of conglomerate John Keells Holdings had been sold at 194 rupees per share, bringing a capital gain to the Fund. These shares have been purchased by Malaysia’s Khazana Nasional Berhard, a sovereign wealth Fund. ...
- Political bunfight over City Hall costs (Category: Australia, Queensland)
- 2.9 mil to asbestos victims (Category: Australia, Tasmania )
- IMF to consider $ 800m loan for Sri Lanka (Category: Breaking News)
- Sri Lanka continued strong economic recovery says IMF (Category: Breaking News)
SLIC books hefty Rs. 4 b capital gain as an eager Harry secures large block; Ups control to 40.8%; Melstacorp to revise Spence mandatory offer price to Rs. 115 per share from Rs. 113 Business tycoon Harry Jayawardena-linked Melstacorp Ltd. yesterday acquired a strategic block of an 11% stake in Aitken Spence Plc for Rs. ...
- Harry picks up Rs. 336 m more of Spence shares (Category: Business)
- Others secure, Harry misses in scramble for Spence shares (Category: Business)
- Harry triggers Takeover Code on Aitken Spence (Category: Business)
- Distilleries transfers 16.3% Spence stake to Melstacorp for Rs. 7 b (Category: Business)
Benito Mussolini, the fascist ruler of Italy, during World War II, said that his brand of fascism ‘should be more appropriately called Corporatism, because it is a merger of state and corporate power’. Compare this with the dictionary definition of capitalism: ‘A system in which a country’s business and industry are controlled and run for ...
- Entrepreneur and the profit motive (Category: Business)
- The rise of State capitalism: new masters of the universe or an ominous portent? (Category: Business)
- State Capitalism: Revitalising underperforming businesses the Mussolini way (Category: Business)
- Governance - Four examples; two bad and two good (Category: Business)
The Colombo Bourse last week saw a net foreign inflow of Rs. 1.2 billion, with Aitken Spence Plc drawing the most buying, whilst brokers expect the non-national interest to grow further. Spence saw net foreign shareholding increase by 4.8 million shares or 1% last week, whilst overall nearly five million of its shares traded for ...
- Harry picks up Rs. 336 m more of Spence shares (Category: Business)
- Continuous buying pushes net foreign inflow to over Rs. 20 b (Category: Business)
- Foreigners bullish; buy Rs. 279 m worth of shares (Category: Business)
- Bourse back to double digit dip (Category: Business)
Contrary to exaggerated claims the EPF investments in to the stock market last week had amounted to only less than 10% of market activity and unlike some past contentious buys, this time around it had focused on blue chips. The total turnover of the Colombo bourse last week was Rs. 8.6 billion
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
- Crisis Colombo! (Category: Business)
- Foreign net inflow tops Rs. 3 billion (Category: Business)
- Aitken Spence draws biggest foreign buying as net inflow tops Rs. 1 b (Category: Business)
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
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
- Crisis Colombo! (Category: Business)
- From bust to boom? (Category: Business)
- ‘Boom’ is back? (Category: Business)
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...
- Share Market Volatility – Causes and Remedies – Part Two (Category: Business)
- Lion leads frontier markets (Category: Business)
- CEB is not a burden on national economy, says Power Minister (Category: Business)
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
- End taxation on EPF earnings: Employers body (Category: Business)
- No investigations yet on EPF transactions (Category: Business)
- VIDEO: Govt using EPF, ETF money to pay off debt - Ranil (Category: Breaking News)
- Stop repeating mistakes (Category: Business)
‘A ruler with a depleted treasury eats into the very vitality of the citizens and the country. A ruler, who impoverishes his own people or angers them by unjust exactions will also lose their loyalty Impoverishment, greed and dissatisfaction are engendered among the subjects, when the ruler among other things (i) fails to give what ought ...
- 2024 Election Year; The Perennial Challenge Of Cleaning The Stables For Sri Lanka! (Category: Breaking News)
- Prosecuting Aragalaya Protestors; A Legal Perspective (Category: Breaking News)
- Ranil’s Honeymoon With The ‘Inglorious Illegitimates’ (Category: Breaking News)
- Nihal Sri takes on ‘Expropriation Bill’ (Category: Business)
Last week there were more stories making the rounds on contemplated decisions made outside the cabinet meeting than decisions made inside. Of course, the usual briefing on cabinet decisions were spelled out, Thursday afternoon. For a regime that still wants to boast it has popular support, comparing itself to an opposition fractured and quarrelling red and green, it is ...
- Whither Lanka? (Category: Breaking News)
- Cabinet gets down to biz! (Category: Business)
- Why Pay For Bumpkins In Opposition With Public Money? (Category: Breaking News)
- Thus spake Wimal Weerawansa (Category: Breaking News)
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 ...
- Treasury Chief urges help for balance of payments (Category: Business)
- Nivard sees weak rupee recovering to 125 (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
Fund (EPF), the Central ...
- EPF’s response to S&P’s Statement (Category: Business)
- EPF and ETF tangled up! (Category: Business)
- EPF by the people for the people (Category: Business)
- UNP vows to prove the truth (Category: Business)
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 ...
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
- Eraj steps down, Dharma new Chairman at Bartleet Finance (Category: Business)
- Mahendra resigns as COMBank Chairman; Captains’ buy in (Category: Business)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
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 ...
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
- COMBank to hold special Board meeting today (Category: Business)
- Dinesh youngest to be appointed as Commercial Bank Chairman (Category: Business)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
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 ...
- Easy Biz (Category: Business)
- Business Skills (Category: Business)
- IFC, NTB help small businesses become more competitive (Category: Business)
Fitch Ratings has affirmed Sri Lanka’s Housing Development Finance Corporation Bank’s National Long-Term rating at ‘BBB+(lka)’. The “Outlook” Fitch says is Stable. At the same time, the agency has affirmed the bank’s outstanding senior unsecured redeemable debentures at ‘BBB+(lka)’. The ratings reflect HDFC’s demonstrated ability to contain interest rate risk b...
- Regional Development Bank affirmed at ‘BBB+(lka)’/Stable (Category: Breaking News)
- Fitch Affirms Senkadagala Finance at ‘BBB+(lka)’ (Category: Breaking News)
- Fitch Affirms Pan Asia Banking Corp at ‘BBB(lka)’/Stable (Category: Breaking News)
- Fitch affirms Senkadagala Finance at ‘BBB+’ (Category: Business)
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...
- Pathfinder responds to IFC (Category: Business)
- Easy Biz (Category: Business)
- Improving Sri Lanka’s business climate (Category: Business)
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 ...
- How attractive or unattractive is our business climate to foreign investors? (Category: Business)
- Pathfinder responds to IFC (Category: Business)
- Economic Summit tackles key issues to boost biz, investments (Category: Business)
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
Srilankamirror - Deputy Finance Minister Geetanjana Gunawardena says that monies in the Employees Provident Fund (EPF) have been deposited in several private banks. He has told parliament that EPF monies have not been used to buy shares of any private banks. He has noted that monies
- Govt. once again trying to swindle EPF monies says TU (Category: Breaking News)
- Govt. misusing EPF monies for its development work says UNP (Category: Breaking News)
- Internet bank customers warned of fake websites (Category: Breaking News)
- Oman-Lanka economic ties discussed in Muscat (Category: Breaking News)
From early in-house management training to training in world class management schools that professionals, business leaders, academics and civil society leaders have undergone, they have learnt of the key management principle of engaging in quiet reflection, reality checks, risk mitigation assessments and the need to plan lessons learnt response action. These practices are considered essential ...
- Economic management and the way forward (Category: Business)
- Chandra J. writes to SEC Chairman on NSB-TFC ransaction (Category: Business)
- Budget 2012: Issues for civil society intellectual debate (Category: Business)
By Ian The President in his speech at the opening of the Southern Expressway said that this could be the beginning of building a modern society. He also mentioned that had there been such an expressway linking the north with the south the extremists would not have succeeded in capitalising on the mistrust among communities. ...
- "I dont like to use the term 'student supppression' simply because there is no such thing" (Category: Breaking News)
- JVP accuses Govt. of crippling University system (Category: Business)
- Sri Lanka to open new universtities to improve higher education (Category: Breaking News)
- Gota urges educated youth to take country forward (Category: Business)
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 ...
- Budget bloats! (Category: Business)
- Will Mahinda’s 7th Budget be lucky for Lanka? (Category: Business)
- 2012 Budget on 21 Nov. (Category: Business)
- Appropriation Bill tabled in P’ment; 2012 maximum borrowing at Rs. 1.15 t (Category: Business)
By Devin Jayasundera HDFC, Sri Lanka’s only bank which specialises in Housing finance industry launched its newest product HDFC Housing Fund that provides affordable and accessible financial services for housing purposes at a media briefing yesterday. HDFC Bank officials believe that these kinds of innovative schemes will strengthen the housing sector in Sri Lanka. The ...
- HDFC launches eBanking (Category: Business)
- Mortgage Profits (Category: Business)
- Fitch Affirms HDFC Bank at ‘BBB+(lka)’ with a “Stable” outlook (Category: Breaking News)
- Containing Risk (Category: Business)
The UNP yesterday criticised the Board of Investment (BOI) for misleading investors by changing its web site's previous assurance that foreign investments will not be nationalised. An apparent development following the passing of Takeover Bill in parliament on Wednesday, in the BOI web site's section listing Supportive Government Policies, the new version only states "Safety ...
- Basil’s justification not valid claims UNP MP Dr. de Silva (Category: Business)
- Govt. institutions slow in website updating (Category: Business)
- Defunct garment factories available for investment (Category: Business)
- Challenges for FDI (Category: Business)
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
- Eastern Iowa McDonald's owner gives $25,000 for derecho recovery (Category: USA, Iowa)
- Empty Stocking Fund brings in more than double its goal (Category: USA, New Mexico)
- Eastern Iowa McDonald's owner gives $25,000 for derecho recovery (Category: USA, Iowa)
- Eastern Iowa McDonald's owner gives $25,000 for derecho recovery (Category: USA, Iowa)
Govt. outlines plan to move into top 30 Doing Business Ranking by 2014 By Cheranka Mendis The Government yesterday outlined the roadmap to up Sri Lanka’s ranking to number 30 in the Doing Business Ranking by 2014 from the current position of 89. The plan highlights the need to reform operations in key institutions with ...
- Fast Track (Category: Business)
- Flat (Category: Business)
- Easy Biz (Category: Business)
Dr. Lalith P. Chandradasa, a doctor of medicine and a brother-in-law of President Mahinda Rajapaksa, has been appointed to the Board of Directors of the pioneering development finance institution DFCC Bank. The appointment as an Independent Director had been approved by the DFCC Bank Board following the go ahead by the Director of Bank Supervision, ...
- Marina on to DFCC Vardhana Bank Board (Category: Business)
- Jeyam Perumal appointed to DFCC Board (Category: Business)
- Ray appointed to Asian Alliance Insurance Board (Category: Business)
- Aravinda appointed MD of Sampath Bank from 2012 (Category: Business)
By Cheranka Mendis Central Bank Governor Nivard Cabraal yesterday declared that the country’s biggest fund, the EPF, was well managed and not corrupted, in remarks that signalled an apparent dismissal of allegations levelled by the main opposition UNP. Sri Lanka’s largest fund
- Height of optimism! (Category: Business)
- JVP Leader nails govt. on ETF, EPF balances (Category: Breaking News)
- Domestic debt restructuring: Harsha insists money belonging to EPF members must be safeguarded (Category: Breaking News)
- JVP union accuse authorities of swindling EPF monies (Category: Business)
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
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