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The plantation industry raised its strongest possible objections to the Government’s ”arbitrary, reckless, unilateral decision” to drastically hike minimum wages for tea and rubber sector workers by an unprecedented 70%. All producer stakeholders issued a unified warning against the devastating impact the latest increase will have on the plantation sector, leading crippling opera...
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Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank Governor Dr. Nandalal Weerasinghe said yesterday. The EPF […]
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Fear of a DDR/IFR event drive rates even higher
[…]The post JR & Expert Advice: Failing To Implement Goh Keng Swee Report Of 1980 appeared first on Colombo Telegraph.
2014 T Bond Yield Goes Below One Year T Bill Rate In Secondary Market The rupee further strengthened at Friday’s (September 21) trading due to a mix of sluggish import demand and possible foreign investment in the Government Bond market, a source told this newspaper. As a result, the exchange rate (ER) strengthened by 25 ...
But Market’s Illiquid Status Of Such, Drawback In a depressed market, such as that which is facing the Colombo bourse today, the time however is ripe for investors to buy good stocks at bargain prices an economist said. Amal Sanderatne, Director, Frontier Research (Pvt.) Ltd., addressing a seminar on the economy with a focus on ...
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 ...
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 ...
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 ...
The Employees Provident Fund gets a profit of 800 million rupees. The Employees Provident Fund which possessed 71 million shares of conglomerate John Keells Holdings had been sold at 194 rupees per share, bringing a capital gain to the Fund. These shares have been purchased by Malaysia’s Khazana Nasional Berhard, a sovereign wealth Fund. ...
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 ...
Professionals stressed the importance of attracting foreign direct investment (FDI) into the country to usher in much needed development and also to help in foreign debt servicing and to take away pressure on interest rates. Former Central Bank of Sri Lanka Director Statistics Dr. (Mrs.) Anila Dias
The UNP yesterday criticised the Board of Investment (BOI) for misleading investors by changing its web site's previous assurance that foreign investments will not be nationalised. An apparent development following the passing of Takeover Bill in parliament on Wednesday, in the BOI web site's section listing Supportive Government Policies, the new version only states "Safety ...
More To Exit following UN Report The stock market continued to lose its momentum as predicted in the lead story on these pages in its last week’s edition, compounded by foreigners fleeing the market, made worse by the UN’s negative war report on the island. “There is panic selling by foreigners in the backdrop of ...
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