Sri Lanka News Explorer
Last 7 Days
Older News
- Older than 2023-Nov (101)
Narrow by Category
- Business (101)
The Government has dropped a bombshell admitting that the EPF’s Investment Policy was amended in 2009 enabling the biggest fund to take up equity stakes in commercial banks. “The investment policy statement and standards of professional conduct of EPF issued in 2002, which stated
- Ranil raises red flag over EPF, ETF in Parliament (Category: Business)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
- EPF’s response to S&P’s Statement (Category: Business)
- Harsha slams Govt. for stooping to low level of attack over his EPF expose (Category: Business)
The Employees’ Provident Fund (EPF) in a statement yesterday reiterated that all internal guidelines in relation to the assessment, analysis and investment in the stock market have been diligently followed. This position has been publicly confirmed by the EPF on many previous occasions
- Stock Defence (Category: Business)
- Stock Purchase (Category: Business)
- Electronic Transfer (Category: Business)
- EPF’s response to S&P’s Statement (Category: Business)
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
- Subsidized student loan scheme through commercial banks in addition to existing interest-free st... (Category: Breaking News)
- Banks lift overseas spending limits imposed on credit cards as dollar liquidity improves (Category: Breaking News)
- Ten problems; one solution (Category: Business)
- Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age (Category: Breaking News)
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’. ...
- Lokuge’s take on controversial EPF Amendment Bill (Category: Business)
- EPF 2010 Annual Report makes it to P’ment (Category: Business)
- Ranil raises red flag over EPF, ETF in Parliament (Category: Business)
- More and better jobs: Policy prescription for South Asia (Category: Business)
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 ...
- Serious decline of the stock market under the present SEC (Category: Business)
- Broker Credit Drives Up Market (Category: Breaking News)
- Politicos , Brokers ; Bourse’s Tailwind (Category: Breaking News)
- Majority of brokers recommend PLC IPO as buy (Category: Business)
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
- Ranil raises red flag over EPF, ETF in Parliament (Category: Business)
- What the UNP Leader told Parliament (Category: Business)
- EPF is well managed, not corrupt: CB Chief (Category: Business)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
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;
The Employees’ Provident Fund (EPF) yesterday categorically rejected the statement allegedly made by an Opposition Member of Parliament as reported in several news papers on 15 May 2012, where the EPF has been accused of fraudulent transactions in the stock market. "Such statement, read
- Harsha rebuffs CB’s rosy EPF story (Category: Business)
- CB says EPF investments are long-term and of value (Category: Business)
- EPF defends its investment strategy (Category: Breaking News)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
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...
- Regulation of microfinance institutions (Category: Business)
- Finance: Restrictions on use of the word (Category: Business)
- The ability to save (Category: Business)
- ‘Divi Neguma’ Dept: Development catalyst, dependency creator or a white elephant? (Category: Business)
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.
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 ...
- People’s Leasing allots mega IPO shares; makes all happy (Category: Business)
- November 3 opening for People’s Leasing’s mega IPO (Category: Business)
- Amidst crisis in bourse, PLC IPO shines with record Rs. 9.5 b demand (Category: Business)
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
- Motion Against EPF To Further Expose The Regime (Category: Breaking News)
- UNP vows to prove the truth (Category: Business)
- Attempt to table messy draft bill again (Category: Breaking News)
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 ...
- NSB Head gives quit notice (Category: Business)
- NSB conspicuous by its silence on allegations over TFC buy (Category: Business)
- NSB-TFC deal: CID questions Kariyawasam (Category: Business)
- A comprehensive investigation is underway on TFC-NSB deal – SEC (Category: Breaking News)
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 ...
- Making sense of strikes (Category: Business)
- Strikes paralyse government hospitals (Category: Breaking News)
- Trade Unions warn of Countrywide Strikes on March 15 (Category: Breaking News)
- Poppy thief strikes again (Category: Canada, Ontario)
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...
- Chandra J sends his proposals for 2013 Budget to the President (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Time for reflection, reality check, risk mitigation and lessons learnt action (Category: Business)
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
- Ranil brush up! (Category: Business)
- SLIC sells 3.4% DFCC stake to EPF for Rs.1.2 b (Category: Business)
- Laugfs gas has last laugh at EPF? (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
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 ...
- Kamala Harris' VP win is huge for HBCUs, Tougaloo president says (Category: USA, Mississippi)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
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, ...
- Rupee on a yo-yo! (Category: Business)
- Rupee hits record low as IMF discusses loan (Category: Business)
- Rupee a tad weaker, stocks remain bearish (Category: Business)
- Rupee sinks to record low (Category: Business)
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 ...
- Rupee hits new low despite inflows (Category: Business)
- CB gives fresh boost to CSE (Category: Business)
- Markets becalmed (Category: Business)
- Rupee weakens on importer dollar demand (Category: Business)
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. ...
- Govt. Debt Up Rs. 465 Bn. (Category: Breaking News)
- Debt: 89% Of GDP (Category: Breaking News)
- Net foreign inflow tops Rs. 29 b mark (Category: Business)
- Foreign inflows at CSE top Rs. 23 b (Category: Business)
Instead of 'Employees', one could call it the ‘Empathetic’ Provident Fund (EPF) considering its unprecedented move of sharing the mega sale of 8.4% stake or 71 million shares in premier blue chip JKH for Rs. 13.77 billion (Rs. 194 per share) on Friday to Malaysia’
- Khazana entry an all-round boost as net foreign inflow tops Rs. 17 b (Category: Business)
- Khazanah kudos! (Category: Business)
- Captains reduce exposure to JKH (Category: Business)
- SLIC sells 3.4% DFCC stake to EPF for Rs.1.2 b (Category: Business)
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)
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
- EPF gets a profit of 800 million rupees (Category: Breaking News)
- Rupee hits new low despite inflows (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
- Stock market at 11-week low despite foreign inflows (Category: Business)
Amidst a mandatory offer for Aitken Spence by Melstacorp, both linked to business tycoon Harry Jayawardena, outside investors are managing to collect quantities in a development which analysts termed a bit bizarre. For example, last week on Monday three million shares of Spence traded for Rs. 347 million, but Harry had been able to pick ...
- Harry triggers Takeover Code on Aitken Spence (Category: Business)
- Harry picks up Rs. 336 m more of Spence shares (Category: Business)
- Harry’s Melstacorp buys 11% more in Spence for Rs. 5 b (Category: Business)
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)
Ceylon Hotels Corporation Plc has appointed Guanapala Tissakuttiarachcchi as a Director representing the Employers Trust Fund Board from 16 February. He replaced K.M.A. Godawatte. Tissakuttiarachchi is a Director of the Employers Trust Fund Board, on which he has served since 2005. EPF owns 11.4
- Higher Level (Category: Business)
- Albuquerque police investigate two fatal stabbings (Category: USA, New Mexico)
- Hotel Buy (Category: Business)
- Eastern Beaches (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)
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 ...
- No investigations yet on EPF transactions (Category: Business)
- Don’t judge EPF investments in Bourse too harshly (Category: Business)
- Ranil fires all cylinders (Category: Business)
- Ranil brush up! (Category: Business)
Popular Topics
- International Monetary Fund (101)
- Political crisis (19)
- Foreign exchange reserves (54)
- Bank reserves (82)
- Fuel (9)
- Economy of Sri Lanka (65)
- Russia (2)
- Sri Lanka Tea (63)
- Tourism (11)
- Sri Lanka Quality Tea (63)
- Sri Lanka Tourism (64)
- Sri Lanka Cricket (62)
- Sri Lanka Hotels (65)
- Sri Lanka Elections (62)
- Hiru Tv (3)
- ITN News (10)
- Shakthi Tv (3)
- Derana Dream Star (6)
- EPF (101)
- Rob Ford (1)