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Sri Lanka are determined to prevent a Pakistan resurgence as they seek their first Test series win in three years when the second match starts in Colombo on Saturday. The hosts will start as firm favourites at the Sinhalese Sports Club (SSC) after thumping Pakistan by 209 runs with a day to spare in ...
NDB recorded yet another andlsquo;firstandrsquo; in the banking industry by becoming the first bank to secure ISO certification for its Corporate Banking division. The certification, which is not commonly granted to the services industry, affirms that the services offered by NDB Corporate Banking gratify international standards of quality for such banking services and procedures.
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
Calls for Govt. to table details of investments in listed securities from January 2010 to April 2012 Says the two funds and Central Bank come under Finance Ministry and accountable to Parliament In a strong move, Opposition Leader Ranil Wickremesinghe yesterday urged the Government to table in Parliament full details of all investments in listed ...
WOKE up as usual to a nursery rhyme. The Bread Man, who blares the same old tune over a megaphone every day, runs two jobs; one of waking up Sri Lanka, a job coercively collared from the rooster and the other selling bread and buns. The ice cream man comes later on in the day, ...
Market’s value up Rs. 23 b, ASI back again in 5,000-points level The Colombo stock market produced a confident rebound yesterday driven by high net worth investors as well as institutions picking up low valued opportunities. The market’s value rose by Rs. 23 billion, slightly lower than Friday’s gain of Rs. 26 billion. The rise ...
Positive macro news and rumoured overhauling of SEC among other State entities trigger buying spree; some analysts insist rebound is due to attractive pricingThe Colombo Bourse on Friday shot up by over 100 points before losing some momentum, with the earlier development being linked by some analysts to positive macro news and a rumoured overhauling ...
RIO+20 is the next focus point for the world and as President Mahinda Rajapaksa takes Sri Lanka’s concerns to this international forum, it is perhaps time for a larger discussion on its importance to a developing country as well as the world at large. Twenty years ago, it was mostly people who were displaced by ...
The Commercial Bankandrsquo;s status as a leading service provider to the business community has been reiterated by the United Kingdomandrsquo;s authoritative andlsquo;Trade Financeandrsquo; magazine, which has adjudged the Bank the andlsquo;Best Sri Lankan Trade Bankandrsquo; for 2012.
DFCC Bank (DFCC) and DFCC Vardhana Bank (DVB) consolidated and integrated their presence on the information superhighway into one location through the launch of their new website www.dfcc.lk. With a view to delivering seamless banking services through a convenient, easy to navigate portal, the Banking Group hopes to meet the financial needs of the cyber ...
The NSB/TFC deal and the General Recent events in Sri Lanka have reconfirmed that though seemingly power may be unlimited, there are in reality constraints which limit the options those in power have. As proof of this fundamental reality, the first event is the purchase by the National Savings Bank (NSB), a State-owned entity, whose ...
The World Bank funded US$ 100 million (Rs 13.2 billion) project to transform school education to prepare the country towards a knowledge hub was launched on 13 May in partnership with the Ministry of Education at Cinnamon Grand hotel, Colombo 3.
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 ...
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;
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.
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...
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 ...
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.
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.
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, ...
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 ...