The CBSL’s directive issued last year, which takes into account credit, market, operational and liquidity risk, is very much in line with the recommendations of the Bank of International Settlements (BIS), which recommends in particular capital adequacy for government banks, said internationally-renowned risk consultant and CEO/Principal of Independent Global Research Ltd. David Roden. Addre...

By Cheranka Mendis While Sri Lanka’s largest mega trade, investment and tourism promotion initiative ‘Expo 2012’ has been welcomed by stakeholders as a timely affair, stallholders shared mixed feelings on the order of the show. Some were elated having received inquires just two days into the event, while others expressed disappointment with regard to the ...

By Cassandra Mascarenhas Bringing to the spotlight an issue that has plagued the Sri Lankan stock market over the past several months, the Institute of Chartered Corporate Secretaries of Sri Lanka and the Securities and Exchange Commission of Sri Lanka in partnership with the Daily FT

EDB says 1,350 visitors from 55 countries already registered; flow halted due to lack of rooms The first-ever international style exhibition to promote exports in 18 years, Sri Lanka Expo 2012, which kicks off on Wednesday, has drawn 1,350 visitors from 55 countries with further demand facing a snag due to unavailability of hotel accommodation. ...

Suren Rajanathan is Vice President of 3M Sri Lanka, an innovation-based company which boasts a catalog of over 1,000 products sold in Sri Lanka that span 25 different business categories. 3M has an income internationally of $30 billion in sales, employs about 84,000 people worldwide, and has operations in more than 65 countries with products ...

and Exchange Commission (SEC) in partnership with the Daily FT. Dissanaike will ...

The Janatha Vimukthi Peramuna (JVP) spokesman and parliamentarian Anura Kumara Dissanayaka in an interview with the Daily FT critiques the on-going sessions of the UN Human Rights Council (UNHRC), the state of bad governance, deteriorating law and order and the economic crisis in the country.  

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 ...

The Institute of Chartered Corporate Secretaries and the Securities Exchange Commission in partnership with the Daily FT will hold a seminar on insider trading on 26 March.  The seminar is to be held from 4 p.m. to 6:30 p.m. at Hilton Colombo Residencies and panellists include Professor Gishan

With just 12 days to go, Sri Lanka’s largest mega trade, investment and tourism promotion initiative ‘Expo 2012’ has attracted close to 1,200 people, exceeding the expected 1,000 mark, EDB Chairman Janaka Ratnayake said yesterday. Speaking to the Daily FT, he asserted

The inaugural Future Marketers Conference of The Chartered Institute of Marketing (CIM), Sri Lanka Region, will be held on 17 March 2012 at the Grand Ballroom, Galadari Hotel Colombo from 9 a.m. to 5 p.m. The Student Committee of CIM Sri Lanka Region, comprising of 17 members who are students and practicing marketershave taken great ...

A top line up of specialists will be the key attraction of the annual management conference organised by the Colombo University MBA Alumni Association on Friday 16 March from 8:30 a.m. to 4:30 p.m. at the Cinnamon Lakeside, Colombo. Defence Secretary Gotabaya Rajapaksa will be the Chief Guest at the conference titled ‘Beyond Traditional Boundaries,’ ...

With its seventh birthday coming up this May, The Commons continues to keep diners and coming back for more with new menus and a maintained standard that’s hard to meet. Chic yet laid back, The Commons has continuously introduced new products and services along with its excellent restaurant menu. Spearheaded by Chef Manoj, the Commons ...

Malaysia’s second largest financial services provider CIMB Group is bullish on post-war Sri Lanka and prospects for financial services. Early this week CIMB entered into a strategic collaboration with John Keells Stock Brokers as part of a phased entry in to Sri Lanka. CIMB Group is also one of ASEAN’s leading universal banking groups and ...

Thousands of women in the apparel industry deserve respect for being partners in Sri Lanka’s highest foreign exchange earning sector By Uditha Jayasinghe Sri Lanka’s apparel industry clothes the world and earns the largest amount of foreign exchange but is struggling to retain its workforce as an estimated 30,000 vacancies remain open in hundreds of ...

By Cheranka Mendis With a membership of 107 top entrepreneurs of the country – among which close to 200 leading organisations is managed providing employment close to 250,000 people – the Chamber of Young Lankan Entrepreneurs (COYLE) is a unique and highly valuable organisation to the country. Taking the mantle of the Chamber from K.H. ...

The converting business ideas into an action program is based upon seven principles: Team members’ ideas for improving how work is done are valuable as they are derived from first-hand experience of their organisation’s waste of time, effort and materials. Team members’ voluntary contributions of ideas result in greater productivity and enhanced service quality. Coaxing ...

Defence Secretary Gotabaya Rajapaksa will be the Chief Guest at the Colombo University MBA Alumni Association annual management conference titled ‘Beyond Traditional Boundaries’ on 16 March at the Cinnamon Lakeside, Colombo. This year’s focus on the conference is ‘Mastering Your Game’ and Rajapaksa, whose Ministry also includes the Urban Development, as Chief Guest is...

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. ...

Minority shareholders are strongly objecting to Watawala Plantation Plc’s (WATA) proposed sale of its marketing subsidiary, the company’s cash cow, to majority shareholder Estate Management Services Ltd. Their opposition is likely to be vehemently expressed today at the Extraordinary General Meeting (EGM) convened for shareholder approval. Last month, WATA in a brief filing to the ...

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 ...

By Cheranka Mendis The much anticipated fashion event for the year, HSBC Colombo Fashion Week (HSBC CFW) will start its three day journey today evening at Hilton Colombo. Everything is ready for an event that has reached the ‘tier two’ in fashion, on par with the famed Barcelona and Madrid Fashion Weeks CFW President Ajai ...

Executive Vice President and CEO says IFC will explore a good mix of enhanced financing and advisory services on a range of sectors apart from promoting FDIs to the country Encouraged by the post-war optimism the World Bank’s private sector investment arm – International Finance Corporation (IFC) yesterday revealed plans to expand its support in ...

By Cheranka Mendis Tucked away on the southern coastal belt, Avani Bentota Resort and Spa is the perfect epicentre for rest and relaxation. From the moment you walk in, a sense of peace settles in, heightened by the bright white walls, the simple sketches that hang almost rhythmically from the walls and the calming blues ...

State giant’s leadership in general insurance gets stronger on high growth Harry J’s Continental fastest growing in 2011 Top four players ranking intact amidst mixed performance Overall General insurance market enjoys 20% growth as against 11% in 2010 The highly-competitive general insurance industry last year had enjoyed healthy growth, with State-owned giant Sri Lanka Insurance ...

Goldman Sachs fund buys Rs. 1 b worth of COMBank shares Year to date net foreign inflow healthy at Rs. 1.76 b As Daily FT has been emphasising the redeeming feature of Colombo Bourse is the continued foreign investor interest. On Friday net foreign buying topped Rs. 600 million bringing

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 and local purchases ...

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 as “spirited support” whilst others emphasised it was largely due ...

UNP MP and its chief spokesman on the economy Dr. Harsha de Silva is expected to ask in Parliament today the Government stand on the remaining tranche worth US$ 800 million of the IMF assistance via its Stand-By-Arrangement (SBA). There hasn’t been a clear stand on the part of the Government during and following the ...

This is the 14th article in the Daily FT’s fortnightly series titled ‘Business of Sports,’ focusing on the back office of the various sports administered and played in this country. Readers are invited to share their views and express their opinion via email to editor@ft.lk