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- www.ft.lk - Category : Business - Relavancy : 2.9487367

The Central Bank on Saturday issued a statement to set the record right in respect of the news item that appeared in some newspapers on 28 and 29 May 2012 under the caption ‘An amount of Rs. 3,450 million recovered by the Commissioner of Labour through legal action has not been credited to member accounts’. ...

- itnnews.lk - Category : Breaking News - Relavancy : 4.128231

The Central Bank has said that the Employees Provident Fund is safe and it is not exposed to any danger. Superintendent of EPF of the Central Bank Kalyani Gunatllake stressed that the propaganda, being spread by certain opposition groups is baseless. Certain political groups in the opposition

- lakbimanews.lk - Category : Breaking News - Relavancy : 4.128231

Stealthy move madelast year under wraps Reliable sources revealed to LAKBIMAnEWS that the Bank of Ceylon (BoC), the Peoples’ Bank (PB) and the Employees Provident Fund (EPF) have acted in cahoots to purchase shares worth  Rs 344 million from crumbling entity, The Finance Company (TFC

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- thesundayleader.lk - Category : Breaking News - Relavancy : 4.7179785

the Employees’ Provident Fund (EPF). Ceylon Grain Elevators PLC, Laugfs Gas PLC ...

- www.ft.lk - Category : Business - Relavancy : 0.057319105

By an Analyst There is no doubt and there is near unanimity that overregulation by the previous Securities and Exchange Commission arising from inexperience, lack of knowledge and lack of correct strategies was the prime cause for the market collapse witnessed today. The SEC without any foresight and professionalism has introduced ad hoc legislation detrimental ...

- www.ft.lk - Category : Business - Relavancy : 3.5384839

Parliament told EPF has lost Rs. 4.2 b in value over investments in five listed companies alone Last audited accounts of EPF presented in Parliament was for year 2009 only The main Opposition UNP yesterday in Parliament stepped up its charge on alleged mismanagement of funds of the EPF

- ceylontoday.lk - Category : Business - Relavancy : 0.60856324

Central Bank of Sri Lanka yesterday vehemently denied allegations by United National Party (UNP) Parliamentarian and Economist Dr. Harsha de Silva that Employeesandrsquo; Provident Fund (EPF) was engaged in corrupt deals in the Colombo Bourse.andnbsp;

- www.ft.lk - Category : Business - Relavancy : 0.066872284

A high-risk strategyMicrofinance seems the flavour of choice among financial service providers today in Sri Lanka. Almost all financial service providers ranging from licensed commercial banks, finance companies, Non-Government Organisations, cooperatives, money lenders, pawn brokers, cheetu schemes (Rotating Savings and Credit Associations – ROSCAs), registered voluntary social service orga...

- ceylontoday.lk - Category : Business - Relavancy : 2.9487367

Central Bank of Sri Lanka today denied allegations by Dr. Harsha de Silva that Employeesandrsquo; Provident Fund (EPF) that it was engaged in corrupt deals in the Colombo Bourse.

- colombopage.com - Category : Breaking News - Relavancy : 0.60856324

May 21, Colombo: The Employees' Provident Fund Department of Sri Lanka's Central Bank today rejected the allegations of fraud involving the retirement fund ,Employees' Provident Fund (EPF) made by an opposition legislator in the parliament recently.

- www.ft.lk - Category : Business - Relavancy : 0.11463821

Business tycoon Harry Jayawardena-controlled Distilleries Company Plc is the biggest private sector shareholder in People’s Leasing Company Plc., after the latter went public via the biggest ever IPO in post-war Sri Lanka. With 24.5 million shares Distilleries account for 1.57% stake in People’s Leasing Plc. At the issue price of Rs. 18 per share, Distilleries ...

- www.ft.lk - Category : Business - Relavancy : 2.9487367

Noting that the NSB-TFC deal is peanuts, the main Opposition UNP yesterday declared that the bigger problem was questionable investments by the EPF and demanded immediate answers from a 'dodgy' Government. Following is the full text of the statement issued yesterday by UNP MP

- www.ft.lk - Category : Business - Relavancy : 0.15285094

Dealing a fresh blow to the contentious deal legal, experts say NSB’s decision to buy a 13% stake in The Finance Co. Plc (TFC) last month had contravened the National Savings Bank Act. They said as per Section 39 of the NSB Act No. 30 of 1971, the savings giant before investing in a particular ...

- www.ft.lk - Category : Business - Relavancy : 0.13374457

It is hard to put a price on time, but we all know that time is money. Given the propensity of workers to strike in this country, it is interesting to look at the results as measured by the Central Bank annual report. The report says that although the number of strikes and man-days lost ...

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- www.ft.lk - Category : Business - Relavancy : 0.047765918

Parliamentary accountability The Parliament, as the country’s foremost representative institution, has the sole authority over national resources and financial allocations and concurrently has a prominent role to play in fiscal responsibility, the budgetary process, economic development and effective transparent economic and financial management, with a view to assuring sustainable growth an...

- www.ft.lk - Category : Business - Relavancy : 2.3589892

Employees Provident Fund (EPF) yesterday bought a 5% stake in Piramal Glass Plc for Rs. 280.5 million increasing its overall holding to near 10% thereby becoming the single largest local shareholder. Prior to yesterday’s purchase, EPF held 4.11% stake as at end 2011, up from 1.94

- www.ft.lk - Category : Business - Relavancy : 0.15285094

The UNHRC resolution was very unfortunate. This is the first time our country has been subject to this kind of scrutiny. As a fan of the President, it is very unfair that he has been subject to such humiliation. The President has been let down by his advisors. In the recent weeks we have seen ...

- thesundayleader.lk - Category : Breaking News - Relavancy : 0.1323728

Avurudhu Rupee Commitments Bear on Exporters The exchange rate (ER) held at the Rs. 130 levels to the US dollar ($) at Wednesday’s, Thursday’s and Friday’s trading as exporters began encashing their $ proceeds to meet their local commitments, a market source told this reporter. “In the event they persisted in holding on to their ...

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- www.ft.lk - Category : Business - Relavancy : 0.13374457

Rupee recovers on State bank dollar supplies; stocks down Reuters: TWO State banks sold dollars to boost the rupee on Tuesday after it hit a record low of 131.60 a day earlier, despite strong importer demand for greenbacks due to the forthcoming April festive season. The rupee, however, retreated to close at 129.90/130.00 a dollar, ...

- www.ft.lk - Category : Business - Relavancy : 0.10808194

The country’s forex market encompassing highly dependent importers and key source exporters was yesterday rocked by what analysts described as the sharpest day gain in the US dollar exchange rate. Before mid-day the Rupee touched a new low of Rs. 127 and then on to Rs. 128 prompting many to assume the rate had bottomed ...

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- www.ft.lk - Category : Business - Relavancy : 0.15285094

Continuous foreign buying in to select listed companies saw the year to date net inflow top the Rs. 20 billion mark by yesterday. The Colombo stock market began a fresh week with year to date net inflowing being at Rs. 17.7 billion and a further Rs. 2.5 billion was added bringing the total to Rs. ...

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- www.ft.lk - Category : Business - Relavancy : 0.15285094

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 ...

- www.ft.lk - Category : Business - Relavancy : 0.7171986

Malaysia’s sovereign wealth fund buys 8.8% stake in premier blue chip JKH for an estimated US$ 120 m from EPF Market turnover rockets to four-year high Khazanah Nasional Berhad, Malaysia’s State investment arm, yesterday bought an 8.8% stake in John Keells Holdings (JKH

- itnnews.lk - Category : Breaking News - Relavancy : 4.128231

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. ...

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- www.ft.lk - Category : Business - Relavancy : 0.11463821

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. ...

- www.ft.lk - Category : Business - Relavancy : 0.057319105

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 ...

- www.ft.lk - Category : Business - Relavancy : 0.1621229

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 ...

- www.ft.lk - Category : Business - Relavancy : 0.50713605

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

- www.ft.lk - Category : Business - Relavancy : 1.004078

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 ...

- www.ft.lk - Category : Business - Relavancy : 0.40570882

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

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