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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 ...
- SEC gives more flexibility on broker credit (Category: Business)
- Margin mayhem! (Category: Business)
- Bourse crosses half a million ‘individuals’ milestone (Category: Business)
SINGAPORE (Reuters): China’s total in 2012, fuelled by demand from the automobile and other sectors, a senior rubber industry official said last week, despite a slowdown in the world’s second-largest economy. China accounts for 35 percent of global natural rubber consumption, and its appetite will have a major impact on the market, which has been ...
- Globle rubber industry hopes China demand will offset Europe woes (Category: Business)
- Thai 2012 rubber output seen up 5% (Category: Business)
- Rubber rumbles (Category: Business)
- Thailand seeks global cooperation on rubber prices (Category: Business)
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 ...
- Hub is no hoodoo, says TEA (Category: Business)
- Marketing 3.0 and Sri Lanka (Category: Business)
- ‘Pure Ceylon Tea’ or ‘tea hub’? The billion dollar question (Category: Business)
- Do people prefer coffee over tea? (Category: Business)
Seeing the growing acceptance of Tata’s Nano by car cab companies in Sri Lanka, Nano’s agents here are motivating three-wheeler owners to exchange their ‘tuk tuks’ for the swankier, air conditioned and more capacious Nano. But three-wheeler owners, who are mostly working class Gulf-returnees or lower middle class skilled workers or petty traders, do not ...
- Tata Nano, world’s cheapest car, struggles to gain traction (Category: Business)
- Tata Motors rolls out revamped Nano (Category: Business)
- Nano Effort (Category: Business)
- Small Car (Category: Business)
Sri Lanka has thrown open it $ 1 billion packaging sector for the vital SMEs. It also wants the packaging sector to enter exports sector targeting India and China. “Since the future of packaging, appear to head towards niche consumer markets, and our region’s major buyers India and China are demanding more and more packaging ...
- ‘Lankapack 2012’ geared to showcase best local packaging solutions (Category: Business)
- Food industry to the fore (Category: Business)
- Sri Lanka spends over Rs.100 b on brand building (Category: Business)
- Sri Lanka's US$ 1 billion packaging industry targets India and China (Category: Breaking News)
Reuters: Sometime in the next few days of testimony in the prosecution of former Goldman Sachs Director Rajat Gupta, US Senior District Judge Jed Rakoff will probably take a moment to give jurors what he has described in previous trials as a “heads-up”. Rakoff will offer the jury a preliminary instruction on what insider trading ...
- Rajat Gupta loses wiretap ruling, wins on SEC notes (Category: Business)
- Ex-Goldman director Gupta charged in insider case (Category: Business)
- Rajat Gupta helped promote Rajaratnam funds, says trial witness (Category: Business)
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 ...
- A Company Director’s Role (Category: Business)
- Meeting the corporate governance challenge (Category: Business)
- Critique on Board directors’ role and liabilities (Category: Business)
- STING recognises Aitken Spence Sustainability Strategy (Category: Business)
Opened a mail from a reader, Shenella Senaratne, who runs a salon. She likes the idea of the Mac Index from last week’s column but suggests that Sri Lanka has its own domestic index and calls it the Paan (bread) Index. Conspiracies have many cousins. This one is about the fate of Welikada Prison’s most ...
- MSCI slightly increases India’s weighting in EM Index (Category: Business)
- Perceived Economic Opportunity Index falls again in July (Category: Business)
- Kate’s sapphire gives royal boost to Lanka as exports jump (Category: Business)
- Treasury not decided on an accepted value for the CoL index – Lokuge (Category: Business)
FRANKFURT (Reuters): There was more bad news for beleaguered Greece on Tuesday, as two more German travel firms said they were seeing a 30 per cent plunge in bookings to the Mediterranean nation. Reports of animosity and even violence towards Germans over the hard austerity measures demanded by Chancellor Angela Merkel in return for bailouts, ...
- Spending Break (Category: Business)
- No cafes, no tourists: Virus empties streets of old Athens (Category: USA, South Dakota)
- No cafes, no tourists: Virus empties streets of old Athens (Category: USA, South Dakota)
- Brown bear cubs released in wild (Category: Technology)
BANGKOK (Reuters): Tokyo rubber futures rose above 280 yen on Tuesday, extending gains into a second straight session as news that Thailand would import rubber from the TOCOM exchange continued to buoy prices. But gains were limited as investors were still cautious about how much Thailand could buy, while European debt woes also pressured prices, ...
- Thailand seeks global cooperation on rubber prices (Category: Business)
- Thailand to start cutting rubber exports from Oct. (Category: Business)
- CRTA wary on prices as major rubber producers curb exports (Category: Business)
- Thailand seeks regional benchmark rubber export price (Category: Business)
Former Army Commander Sarath Fonseka walked free from jail yesterday with a pardon from President Mahinda Rajapaksa, who appears to have bowed to growing international demands that he release his highest-profile rival while erasing the image of him as a victim. Ex-General Sarath Fonseka kissed his hands and raised them to a group of 2,000 ...
- Fonseka says ‘Government must go’ (Category: Business)
- Sarath Fonseka will be released soon, says President (Category: Business)
- Letting the General out of the bottle (Category: Business)
- Sarath Fonseka gets conditional bail (Category: Business)
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 ....
- China can easily boost consumtion to strengthen its economy: IMF (Category: Business)
- China swings to surprise trade surplus in March (Category: Business)
- Audi July unit sales up 16%, driven by China (Category: Business)
- China on track to meet 2012 growth target: Wen (Category: Business)
Reuters: Sri Lanka’s President Mahinda Rajapaksa has ordered the early release from jail of his highest-profile political rival Sarath Fonseka, the president’s spokesman said on Sunday, in an apparent bid to quell international criticism of the government’s human rights record. The authorisation for Fonseka’s release will be sent to the justice ministry on Monday, spokesman...
- Sri Lanka president orders release of jailed rival (Category: Breaking News)
- Sri Lanka president orders release of ex-army chief Fonseka (Category: Breaking News)
- MR gets Cabinet nod for Fonseka’s release (Category: Business)
- Letting the General out of the bottle (Category: Business)
REUTERS: Facebook co-founder and CEO Mark Zuckerberg wed longtime girlfriend Priscilla Chan on Saturday, announcing the nuptials through a status update on the social networking site. The 28-year-old billionaire’s wedding took place a day after Facebook’s initial public offering on the Nasdaq stock exchange on Friday. More than 280,000 people “liked” Zuckerberg’s stat...
- Mark Zuckerberg’s bride weds in $ 4.7K gown (Category: Business)
- After Zuckerberg talks, Facebook gains $ 6.8 billion (Category: Business)
- Zuckerberg says Facebook won’t ban Bannon for urging Fauci, Wray beheadings (Category: USA, New York)
- Zuckerberg says Facebook won’t ban Bannon for urging Fauci, Wray beheadings (Category: USA, New York)
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...
- Deal reversal awaits SEC instructions (Category: Business)
- Kneejerk reactions by SEC (Category: Business)
- A comprehensive investigation is underway on TFC-NSB deal – SEC (Category: Breaking News)
- SEC Investigating Taprobane Securities For Multiple Offenses On The NSB Deal (Category: Breaking News)
Boating industry thanks Industry Minister for strong support Sri Lanka enters prestigious International Boating Industry Magazine rankings Sri Lanka’s commercial boat sub-sector reporting stronger international orders from Asia, Africa and ME Introducing a much-sought-after measure of relief to Sri Lanka’s boating industry, the country will now introduce tax on boat imports that are la...
- Sri Lanka launches into the world of marinas (Category: Business)
- Sri Lanka’s hidden marine potential is huge (Category: Business)
- 20,000 buyers expected at South Asia’s largest boat show (Category: Business)
Columnists come and go. Hope this one stays! I’ll agree to do that; if you’d let me kick up controversy, poke fun at you and distort the life out of news and gossip that come my way. The Daily FT Ed is a nice guy; he’s already let me do that. As long as I ...
- Ore. father accused of trying to give away the kids (Category: USA, Washington)
- Jana Aragalaya now ‘Frontline Socialist Party’ (Category: Breaking News)
- Bayliss feels for Marsh as Dilshan quits (Category: Business)
- Heshan comes second in heats but fails to qualify for next round (Category: Business)
News reports point to an important decision that the minister concerned has been requested to make on the above subject. If this is correct it is important that we recognise that it is more than a million dollar decision that has been called for. It is so important a decision because it could determine the ...
- Storms brewing in teacups (Category: Business)
- Storm in Sri Lanka’s teacup: A more pragmatic approach is key (Category: Business)
- SL must become a tea nation, but… (Category: Business)
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 ...
- Rupee strengthens on inflows into bonds (Category: Business)
- Dollar Exchange rate hits 134 (Category: Business)
- Indian Rupee posts biggest annual drop since 2008 (Category: Business)
- Rupee up on exporter demand (Category: Business)
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 ...
- JPMorgan likely to post $4 b to $6 b trade loss (Category: Business)
- Obama has assets in JPMorgan accounts: White House (Category: Business)
- JPMorgan has trading loss of at least $2 b, reputation hit (Category: Business)
- Obama pledges tough enforcement of Wall Street reforms (Category: Business)
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 ...
- Asian shares fall, dollar spikes vs yen on intervention (Category: Business)
- Asian shares fall on sluggish US jobs, focus on more data (Category: Business)
- Growth worries hit Asian shares (Category: Business)
- Asia shares, growth assets hit by economy worries (Category: Business)
With open economic policies, the health sector in Sri Lanka has shown a significant development during the last few years. With the increasing population, which has now reached 20.8 million, there was a dire need for the country to improve her healthcare facilities and this requirement is now being fulfilled by both public and private ...
- ‘Arogya 2012’: A step towards better healthcare (Category: Business)
- Private Hospitals Association’s case for employing foreign medical specialists (Category: Business)
- Nawaloka Hospitals sponsors ‘Arogya 2012’ as Official Cardiac Partner (Category: Business)
- MARKSS Healthcare expands footprint in Kandy (Category: Business)
Dialog Axiata PLC announced yesterday that the depreciation of the SrI lankan Rupee relative to the USD by 12.4% QoQ, resulted in the provisioning of a non-cash translational Foreign Exchange loss of Rs 2.1Bn, leading to the Dialog Group recording a Net loss of Rs 531Mn for Q1 2012. andnbsp;
- Dialog dials top line growth in 2Q; forex losses cut profit (Category: Business)
- Dialog profit tops Rs 1.2 b in Q1 (Category: Breaking News)
- Dialog revenue grows 18% in first three months (Category: Business)
- AEC collects more Dialog shares (Category: Business)
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 ...
- Economic management and the way forward (Category: Business)
- Govt. to consider tightening laws on white collar crimes (Category: Business)
- NSB-TFC deal’s stench spreads! (Category: Business)
- Wijetilleke backs calls for tough action on NSB-TFC deal (Category: Business)
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 ...
- Stock Exchange responds to Wijetilleke’s comments (Category: Business)
- NSB-TFC deal’s stench spreads! (Category: Business)
- SEC unveils new, tougher rules post NSB-TFC fiasco (Category: Business)
- Sanctity of CSE hinges on NSB (Category: Business)
Speaking to over 200 foreign delegates at the biennial Dilmah Tea Global Distributor Conference in Colombo on recently, Treasury Secretary Dr. P.B. Jayasundera outlined the way forward for the Sri Lankan tea industry
Reuters: The success with which ‘The Hunger Games’ film harnessed social networks, en route to becoming 2012’s biggest blockbuster, underscores a growing threat to billions of dollars in movie-advertising revenue on which broadcasters rely. The futuristic movie about children fighting to the death has scared up more than $375 million at the US box office ...
- More than 1 b online in APAC, 620 m browsing on mobile: ADMA (Category: Business)
- Web surfers to pay online using Facebook, Twitter (Category: Business)
- After Zuckerberg talks, Facebook gains $ 6.8 billion (Category: Business)
- Twitter is much more than social: Co-founder Dorsey (Category: Business)
Even as prices of several essential items saw monumental increases last week, Central Bank Governor Ajith Nevaard Cabraal assures the country that inflation is at an all time low, foreign reserves are adequate and the Sri Lankan economy is sounder than ever.
In the run-up to the vote on the controversial United Nations Human Rights Council resolution on Sri Lanka, countryandrsquo;s bourse andmdash; the Colombo Stock Exchange (CSE) showed marginal declines
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