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Nov 02, Colombo: Sri Lanka's monetary authority, Central Bank says the retirement fund of the country's workforce, Employees' Provident Fund (EPF) is focused on providing long term growth and advised the millions of stakeholders of the fund not to be misled by 'vituperative and negative
- Eastern Iowa McDonald's owner gives $25,000 for derecho recovery (Category: USA, Iowa)
- Empty Stocking Fund brings in more than double its goal (Category: USA, New Mexico)
- Eastern Iowa McDonald's owner gives $25,000 for derecho recovery (Category: USA, Iowa)
- Eastern Iowa McDonald's owner gives $25,000 for derecho recovery (Category: USA, Iowa)
The Employees Provident Fund has defended its recent investment moves where it purchased shares of various listed firms through the Colombo Stock Exchange and also made investments in some unlisted firms. EPF says these investments are essential in an era where interest rates are likely to decline
- Should the EPF gamble with public money by investing on junk Stocks (Category: Breaking News)
- EPF reiterates that it has followed Investment Policy Guidelines (Category: Breaking News)
- Sri Lanka’s EPF says, an opposition MP is trying to destabilize the economy (Category: Breaking News)
- Indian investors make a beeline for SriLanka (Category: Breaking News)
Govt. outlines plan to move into top 30 Doing Business Ranking by 2014 By Cheranka Mendis The Government yesterday outlined the roadmap to up Sri Lanka’s ranking to number 30 in the Doing Business Ranking by 2014 from the current position of 89. The plan highlights the need to reform operations in key institutions with ...
- Fast Track (Category: Business)
- Flat (Category: Business)
- Easy Biz (Category: Business)
Marque fund manager and investor Asanga Seneviratne structures deal; Galadari Brothers part sell stake as part of settlement of cases in UAEThe buying of a 16% stake in Galadari Hotel (Lanka) Plc by the Dubai Government for Rs. 1.18 billion yesterday is expected to throw open the city five star as an attractive investment in ...
- Debt To Be Converted To Equity (Category: Breaking News)
- The going is good, says Galadari GM (Category: Business)
- Galadari Hotels directors sets price for debt conversion (Category: Breaking News)
- Kandy Hotels in JV to build 100 room new hotel for Rs. 1.2 b (Category: Business)
Oct 30, Colombo: Labor Minister of Sri Lanka Gamini Lokuge says there is no problem in Employees Provident Fund (EPF) monies being invested in the Colombo Stock Exchange (CSE).
Janatha Vimukthi Peramuna (JVP) affiliated Inter Company Employees’ Union (ICEU) says that authorities were swindling monies of the working masses in the Employees’ Provident Fund (EPF). ICEU Head Wasantha Samarasinghe says the decision to invest EPF monies in the Colombo Stock Exchange
- Govt. trying to steal from EPF: UNP (Category: Breaking News)
- EPF is well managed, not corrupt: CB Chief (Category: Business)
- Trade unions in Sri Lanka to meet tomorrow to decide on action against misuse of EPF monies (Category: Breaking News)
- Sri Lanka's Labor Minister says no problem in retirement monies being invested in CSE (Category: Breaking News)
Oct 28, Colombo: Sri Lanka's Marxist party Janatha Vimukthi Peramuna (JVP) affiliated Inter Company Employees' Union (ICEU) says that authorities were swindling monies of the working masses in the Employees' Provident Fund (EPF).
Dr. Lalith P. Chandradasa, a doctor of medicine and a brother-in-law of President Mahinda Rajapaksa, has been appointed to the Board of Directors of the pioneering development finance institution DFCC Bank. The appointment as an Independent Director had been approved by the DFCC Bank Board following the go ahead by the Director of Bank Supervision, ...
- Marina on to DFCC Vardhana Bank Board (Category: Business)
- Jeyam Perumal appointed to DFCC Board (Category: Business)
- Ray appointed to Asian Alliance Insurance Board (Category: Business)
- Aravinda appointed MD of Sampath Bank from 2012 (Category: Business)
The main opposition in Sri Lanka has accused the government of making "secret deals" in the stock market forcing the market to collapse. The United National Party (UNP) said the employees' provident fund (EPF) lost nearly SLR 30 million ($270,000) as a result of such deals in the marker
UNP parliamentarian Dr. Harsha de Silva said that the Employees Provident Fund (EPF) that functions under the Central Bank has incurred a Rs. 270 million loss last week since the Fund had not followed the proper investment procedures.
By Cheranka Mendis Central Bank Governor Nivard Cabraal yesterday declared that the country’s biggest fund, the EPF, was well managed and not corrupted, in remarks that signalled an apparent dismissal of allegations levelled by the main opposition UNP. Sri Lanka’s largest fund
- Height of optimism! (Category: Business)
- JVP Leader nails govt. on ETF, EPF balances (Category: Breaking News)
- Domestic debt restructuring: Harsha insists money belonging to EPF members must be safeguarded (Category: Breaking News)
- JVP union accuse authorities of swindling EPF monies (Category: Business)
Central Bank Governor Ajith Nivard Cabral has said that they had no intention of vesting the Employees Provident in another party. He was speaking at the relocation of the EPF Department at a new venue. The Employees Provident Fund Department has been relocated in the Lloyds Building at Sir Baron
aUNP MP and the party’s Economic Spokesman Dr. Harsha de Silva yesterday renewed his warning over the fate of EPF’s questionable investments in the stock market. In a statement, he urged that EPF must follow its own investment guidelines and code of professional conduct or else
- Harsha rebuffs CB’s rosy EPF story (Category: Business)
- Laugfs gas has last laugh at EPF? (Category: Business)
- EPF buying Laugfs: No smoke without fire! (Category: Business)
- EPF rejects UNP MP’s allegations of fraud (Category: Business)
The adage ‘there is no smoke without fire’ appears to be a perfect fit to Monday’s mega deal of EPF buying an 8% stake in Laugfs Holdings Plc for Rs. 1.6 billion, given its timing and the price paid. The Employees Provident Fund (EPF), which is heading towards a fund base of Rs. 1
- Laugfs gas has last laugh at EPF? (Category: Business)
- SLIC sells 3.4% DFCC stake to EPF for Rs.1.2 b (Category: Business)
- Ranil brush up! (Category: Business)
- Harry’s Melstacorp buys 11% more in Spence for Rs. 5 b (Category: Business)
The Central Bank last week said that the base of the Employees Provident Fund (EPF) is expected to reach the Rs. 1 trillion milestone later this year. “As at 31 August 2011, the value of total assets of the EPF reached Rs. 976 billion, recording an annual growth of 14.6%. With this growth
- Rs.666 million owed to EPF: Auditor General (Category: Breaking News)
- Main opposition of Sri Lanka claims investments losses of retirement fund amount to over Rs. 12 ... (Category: Breaking News)
- Employees’ Provident Fund (Category: Breaking News)
- EPF buys more of VOL (Category: Business)
Employees Provident Fund has purchased 33 million ordinary voting shares of the Laugfs Gas PLC from Laugfs Holdings Limited. The transaction took place today and a share has been sold at Rs. 48. Consequent to this sale, Laugfs Holdings owned 260,000,000 million shares (260 Mln shares) of Laugfs Gas PLC. However, following the transaction, the share amount held ...
- Laugfs Gas IPO surpasses expectations (Category: Breaking News)
- Laugfs Rs. 2.5bn offer for subscription (Category: Breaking News)
- Laugfs gas has last laugh at EPF? (Category: Business)
- Laugfs request price hike (Category: Breaking News)
Sri Lanka’s Employees Provident Fund’s asset value is expected to reach the Rs. 1 trillion mark during this year, announced the Central Bank. The Bank says as of 31st of August this year the total assets of the EPF have grown up to Rs 976 billion. According to the Central Bank this is an annual
- Should the EPF gamble with public money by investing on junk Stocks (Category: Breaking News)
- EPF value increases (Category: Breaking News)
- EPF incurs losses from investments (Category: Breaking News)
- Employees’ Provident Fund (Category: Breaking News)
As at 31 August 2011, the value of total assets of the Employees’ Provident Fund (EPF) reached Rs. 976 billion, recording an annual growth of 14.6%. With this growth, the EPF is expected to reach the total assets value of Rs.1 trillion by end of 2011.
Ceylon Workers’ Congress (CWC) Leader and Livestock Development and Rural Economy Minister Arumugam Thondaman has expressed concerns over the Government’s plan to lease out tea estates under the purview of the Janatha Estate Development Board (JEDB) to the private sector. In a statement he said that estate workers have been left in the lurch without ...
- Estate Sector TUs And Management To Meet On The 29th (Category: Breaking News)
- Gratuity paid on behalf of dedication of estate workers (Category: Breaking News)
- Estate Sector Heading For A Crisis (Category: Breaking News)
- Thondaman alleges PA is in the grip of chartered accountants (Category: Breaking News)
Management inefficiency has led to the Employees Provident Fund (EPF) failing to collect as much as Rs.666 million in terms of contributions and surcharges from employers in 2009,
The UNP says payment of salaries to employees of a state institution has been delayed while benefit payments have been delayed since 2007. UNP parliamentarian Dayasiri Jayasekera has said while salaries of employees at Salu Sala have been delayed, their Employees’ Provident Fund (EPF) and Employees
- Sri Lanka opposition points out delay in payment of salaries to Salu Sala employees (Category: Breaking News)
- ICC pays 45% dues of Lankan cricketers (Category: Breaking News)
- Ports Authority has excess of 2000 employees (Category: Breaking News)
- Private sector salary increases discussed (Category: Breaking News)
Corporate institutions can now make Employees’ Provident Fund (EPF) payments in a convenient manner via ‘Paymaster,’ the innovative electronic total payment solution of the Commercial Bank of Ceylon, the Bank rated internationally as Sri Lanka’s best. The formal agreement
- Commercial Bank presents Paymaster’s new EPF payment facility (Category: Business)
- ComBank records highest growth in ‘Inter-Bank Electronic’ payments (Category: Business)
- COMBank, Prestige Automobile offer dream deals for BMW 5 Series (Category: Business)
Business leader Dhammika Perera sells 51% personal stake in Amaya Leisure to Hayleys Group for Rs. 2.6 b and buys 9% more of the latter for same amount Deputy Chairman’s control in Hayleys tops 40%; Hayleys Group firms pay Rs. 107 per Amaya share after getting independent report valuing share at Rs. 160; to announce ...
- RCL ups Hayleys stake (Category: Business)
- Dhammika ups control in Hayleys to 47% (Category: Business)
By Harsha de Silva We understand that the Securities and Exchange Commission (SEC) is planning to compound undisclosed securities fraud by some billionaire investors. Media reports have begun to circulate that Environmental Resources Investments (ERI) and its Directors have agreed with the SEC to pay an insignificant fine of Rs. 10 million and compound an ...
- SEC sets the record straight on ERI case (Category: Business)
- Harsha breathes fire on SEC over ERI (Category: Business)
- Harsha wants securities fraud fine increased from Rs. 10 m to Rs. 100 m (Category: Business)
- ERI Warrants dip over SEC rule (Category: Business)
Sri Lanka Insurance Corporation (SLIC) has sold 3.4% stake in DFCC Bank to Employees Provident Fund (EPF) for Rs. 1.2 billion. Of the amount 7.9 million shares were sold Tuesday at Rs. 135 each whilst on Monday 1.24 million shares were sold at the same price. Monday’s sale was the entire
- Others secure, Harry misses in scramble for Spence shares (Category: Business)
- SLIC buys 5% stake for a premium in Colonial Motors (Category: Business)
- DFCC buys 10% NTB stake for Rs. 1.3 b (Category: Business)
- Ishara Traders exits Sathosa Motors as Access ups stake to near 80% (Category: Business)
Trade unions affiliated to Samurdhi have warned of trade union action if Economic Development Minister Basil Rajapaksa fails to address the grievances of the Samurdhi employees. They have expressed concern over the job security of Samurdhi employees following the government’s decision to bring the Samurdhi Authority and a few other state institutions under the proposed ...
- Sri Lanka Samurdhi officers' union asks for a non-contributory pension scheme (Category: Breaking News)
- Samurdhi trade unions in Sri Lanka warn of union action if Minister fails to address grievances (Category: Breaking News)
- Samurdhi Officers Ask For Non-Contributory Pension Scheme (Category: Breaking News)
- April public sector salaries to be paid before 10 (Category: Breaking News)
Biggest fund EPF continued its aggressive buying into Vallibel One Ltd., yesterday as well. Around 8 million shares of VOL traded between a high of Rs. 30.20 and a low of Rs. 29.30 before closing at Rs. 29.60, down by 20 cents.
- Petrol to be increased by Rs.12; diesel by 31 (Category: Breaking News)
- Tax increased on big onions, potatoes and garlic (Category: Breaking News)
- Import taxes on big onions, potatoes and garlic increased (Category: Breaking News)
- Tax on liquor increased (Category: Breaking News)
The biggest fund, the EPF, is estimated to have bought around 10 million shares of diversified Vallibel One Ltd. (VOL) yesterday for Rs. 300 million from high net worth investors. Slightly over 15 million shares of VOL traded yesterday for Rs. 451 million. Of the quantity, nearly 10 million shares
- EPF buys more of VOL (Category: Business)
- Chrysler stock sold by Ottawa, Ontario (Category: Canada, Ontario)
- Leasing firm allocates shares (Category: Breaking News)
- Weekend prospectors strike it rich (Category: Western Australia)
Aug 11, Colombo: The Employee's Provident Fund (EPF) of Sri Lanka has come to an agreement with the Commercial Bank to speed up the fund's services.
The government has decided to amend the Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF) Acts. Treasury Secretary Dr. P.B. Jayasundera has said the EPF and ETF Acts would be amended to make provision for the proposed pension scheme for the private sector. The Finance Ministry
- EPF and ETF tangled up! (Category: Business)
- Controversial Investments Out Of EPF And ETF (Category: Breaking News)
- Seminar on EPF/ETF and employee benefits (Category: Business)
- Sri Lankan government to amend EPF and ETF Acts amidst trade union concerns (Category: Breaking News)
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