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The Central Bank yesterday denied the Reuters report (also published in the Daily FT yesterday) which said the target of the rupee had been shifted to Rs. 132 levels from the previous Rs. 125. Despite Central Bank denial, Reuters didn’t re-file a corrected story which it usually does if the news agency had made a ...
By Cassandra Mascarenhas The biggest mobile forum in the region, the South Asian Mobile Conference was held for the third year in Colombo earlier this week, bringing together some of the world’s top experts in the mobile sphere, developers of the next generation, researchers, academics and policy makers, creating a platform for a chance of ...
TOKYO (Reuters): Asian shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain raised fears that it could fail to rescue its banks and may need to seek a bailout. Investors fled from risk assets to U.S. government ...
Reuters: Asian shares slipped on Wednesday, hurt by fears that Spain's banking woes will push up the country's borrowing costs to unsustainable levels although falls were limited on hopes that Greece would stay in the euro zone and for China stimulus steps. The euro also eased, with selling prompted by a rating cut of Spain's ...
Sri Lankaandrsquo;s banking watchdog andndash; Central Bank has disbursed over Rs 20 million worth of loans to uplift the livelihood of those who are self employed in the beauty-culture industry.
The stock market’s misery worsened yesterday with the benchmark All Share Index (ASI) dipping below the psychological 5,000 points level whilst year to date a staggering Rs. 371 billion in value has been wiped off. The ASI yesterday dipped by 1.5% or 74.66 points, to close at 4,935.01, the lowest close in 22 months or ...
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
Central Bank of Sri Lanka issuing a statement yesterday said that contrary to statements, The Finance Co. PLC was among the top five finance companies in the countryandnbsp; and was therefore a andlsquo;stable finance companyandrsquo;.
What is corporate governance? According to the World Bank Corporate governance is “the system by which companies are directed and controlled”. It involves the balance of powers among three key corporate constituencies: the board of directors, which is charged with monitoring, overseeing, and guiding the company; the shareholders, who invest their funds in the company’s ...
CHENNAI (TrustLaw): Indian villager Jaya places the bright pink, sequined, moulded C-cupped designer bra under the needle of her sewing machine and carefully stitches the seams together. The padded “Very Sexy” push-up bra which 22-year-old Jaya sews is for American lingerie retailer Victoria’s Secret – designed to give a “boost” to buyers in hundreds of ...
What is business writing? Business writing is one of the most important aspects of the business world. Writing is still one of the number one methods of communication in the world. With the introduction of email, writing became even more important in the work place. There are many different types of business writing. Each type ...
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;
Reuters: China’s premier called for additional efforts to support growth on Sunday, signalling Beijing’s willingness to take action after a recent series of economic indicators suggested that the world’s second-biggest economy will slow further in the second quarter. “We should continue to implement a proactive fiscal policy and a prudent monetary policy while giving more ....
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.
Sampath Groupandnbsp;which consists of Sampath Bank and four subsidiary companies, continued the growth momentum during the first quarter of 2012, by posting impressive results over the last year.andnbsp;
Taprobane Securities (Pvt) Ltd (TSL) and the National Savings Bank (NSB) by letters dated 11 May 2012 made an application to the Securities and Exchange Commission of Sri Lanka (SEC) seeking prior approval under Section 28 (1) of the SEC Act to transfer The Finance Company PLC (TFC) shares purchased by NSB on 27 April 2012 on the Colombo Stock Exchange (CSE) to persons identified by TSL outside th...
Reuters: The euro hovered near four-month lows and European shares extended their losing streak on Thursday, as investors avoided riskier assets due to the deepening turmoil in Greece and fears of contagion spreading to other stressed euro zone economies. News that some Greek banks face emergency funding needs dealt a further blow to risk sentiment, ...
MUMBAI (Reuters): The Indian rupee slumped to a record low against the dollar on Wednesday as risk aversion in global markets added pressure on a currency already under fire from the country’s current account and fiscal deficits. The currency’s slide came just before Finance Minister Pranab Mukherjee said he had directed his ministry to boost ...
The best hotels, hotel architecture, interiors, construction and design across the entire Asia Pacific region were celebrated at The J W Marriott Hotel in Kuala Lumpur on 27 April. The leading companies behind these winning hotels and hospitality projects were invited to attend to receive the prestigious awards. The Asia Pacific Hotel Awards in association ...
Reuters: The leader of JPMorgan Chase & Co’s hedging unit is retiring after trading losses that could end up exceeding $3 billion, a shortfall that President Barack Obama said might have led the government to step in had such losses struck a smaller bank. The Federal Reserve meanwhile said it is now looking into whether ...
Sri Lankaandrsquo;s banking watchdog - Central Bank is expecting to increase foreign reserves in 2012 and narrow the current accounts deficit in the balance of payments, despite strong capital inflows, which will increase domestic spending power.
Reuters: Asian shares fell on Monday after weekend talks to form a new Greek government failed and China’s latest move to loosen monetary policy highlighted concerns its economy is faltering, prompting investors to further trim their exposure to risk. MSCI’s broadest index of Asia-Pacific shares outside Japan fell as much as 0.6 percent to its ...
The Governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal was the guest speaker at the AmCham Luncheon meeting held on 9 May 2012 at the Hilton Colombo on the topic, andldquo;The future trends of the Sri Lankan economy and what it has to offer the private sectorandrdquo;. A large gathering of top corporate personalities from among the AmCham membership and special invitees attended this ...
With the Sri Lankan rupee made to float against the US$ and the Central Bank of Sri Lanka (CBSL) imposing restrictions on commercial banks on lending has caused much concern among the general public.
LONDON (Reuters): European shares and commodities fell on Friday while safe haven German bonds jumped, as deepening euro zone political turmoil and weak economic data from China raised growth concerns, while a shock trading loss from JPMorgan added to market jitters. The growing risk aversion put the MSCI world equity index on course for a ...
Who is a boss? A boss is a person who exercises control over other employees in a workplace environment. Over time, the term has come to have negative connotations (note words like bossy and mob boss), and many people who now lead others in the workplace prefer to be called supervisors, foreman or forepersons, leads, ...
LONDON (Reuters): The Bank of England looks set to call a halt to its asset-buying program on Thursday, despite the economy having slipped into recession and renewed risks rising from the euro zone debt crisis, as UK inflation remains stubbornly high. Ending its program of quantitative easing, or QE, may make life more difficult for ...
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
Calls for dismissal of wrongdoers Outlines the numerous offenders Insists brokers are now market “breakers” Casts blame on CSE and says worst hit is the Bourse Prominent banking personality Rienzie T. Wijetilleke, who is best known as the former Head of the Hatton National Bank and for his 10-year stint as a Director of the ...
Despite persistent sound external sector stability and impetus for economic growth target of 7.2% for this year, there is a risk of the countryandrsquo;s own policy measures slipping due to the extremely volatile world economic conditions, the Central Bank Governor, Ajith Nivard Cabraal warned yesterday.