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Finance Ministry has acepted the resignation of SEC Chairman Tilak Karunaratne and a suitable appointment will be made soon, Ministry Secretary Dr. P.B. Jayasundera told the Daily FT.
The Annual General Meeting of the Colombo Stock Brokers Association (CSBA) will be held today. The Daily FT learns a change at the top was likely. Current Chairman is Sriyan Gurusinghe who has been in the post for several years. Speculation was rife that Asha Phillip Securities CEO Dimuthu
By Cheranka Mendis Given the anticipated growth in tourism, the country is likely to see an 85% average occupancy rate and 35% revenue growth in Colombo city hotels in 2012. Colombo City Hotels Chairman M. Shanthikumar yesterday told the Daily FT that the occupancy level so far has recorded
By Cheranka Mendis Seylan Bank’s CEO and MD Kapila Ariyaratne recently joined Daily FT for a brief chat on the performance of the bank, future plans and market trends. The bank as at now holds 11% shares in advances and 10.6% in deposits within the private local commercial bank market
As continuously highlighted by the Daily FT and perhaps dumbfounding critics and locals, foreign craving for stocks in the Colombo Bourse is growing, with net inflow surpassing Rs. 28 billion yesterday with the addition of fresh buying worth Rs. 980 million. Non-nationals accounted for 28% of total
as exclusively reported by the Daily FT, ...
By Cheranka Mendis SriLankan Airlines, one of the only two Government entities that managed to secure Silver at the HRM Awards organised by the Association of Human Resource Professionals last month, joined Daily FT to share the best practices that led the company to win the award after a lapse
Nearly 50 stocks had gained by over 10% in the past month Three solid stocks gives over 23% year-to-date return against near 20% dip of the market If the general investing and savings public believes the Colombo Stock Exchange isn’t attractive, then nearly 50 stocks are likely to prove this incorrect, especially given their performance ...
By Nisthar Cassim Tilak Karunaratne yesterday resigned as the Chairman of the Securities and Exchange Commission (SEC), a move which he had pre-announced early this week and personally decided last weekend. “I am leaving the SEC as a sad but relieved man,” Karunaratne told the Daily FT
The key US$ 455 million Norochcholai power plant will be operational in another two weeks, the Power Minister said yesterday, after its fifth breakdown earlier in the week resulted in countrywide power cuts. The 300 mega watt Lakvijaya power plant is the first phase in a 900 mega watt coal power plant costing US$ 1.3 ...
By Chamitha Kuruppu The large gathering of an unknown wedding ceremony did not bother us at all. We had arrived early for the interview, so we could listen to them sing. And just like we expected the church was filled with their mesmerising voices. The choir and their breathtaking singing was no doubt the highlight ...
By Cheranka Mendis Singer Worldwide said yesterday it is remains upbeat on Sri Lanka its single largest market and will expand presence further in the consumer finance market and introduce new lifestyle experiences. In Sri Lanka to attend the biannual meeting of Singer Asia and Retail Holdings, the largest shareholder of Singer Worldwide, Retail Holdings ...
. The rally as reported by the Daily FT yesterday continued with ...
; The Daily FT learns that when the bids for the tender for 310,000 barrels of ...
Following is the copy of letter written by public interest activist Nihal Sri Ameresekere to Secretary to President Lalith Weeratunga on the Securities and Exchange Commission (SEC) based on some of the reported discussions during the President’s meeting capital market stakeholders in late July at Temple Trees. 10th August 2012 Mr. Lalith Weeratunga &...
Anushka Sharma and Sunny Leone are probably two obscure names to the Daily FT reader. I must admit this was true for me too until very recently when I had the opportunity to view a programme on Star Movies called ‘Front Row,’ a talk show hosted by Indian national award winning author
By Nisthar Cassim The world’s leading nutrition, health and wellness company, Nestlé said last week Sri Lanka is a high growth market with strong upside in tandem with improving socioeconomic development aided by the end-of-war benefit. “We are experiencing double digit growth in Sri Lanka and see very positive prospects going forward. Our commitment to ...
In response to the Daily FT’s article yesterday titled ‘SEC split?’ SEC Chairman Tilak Karunaratne has sent the following statement. I, as the Chairman of the Securities and Exchange Commission of Sri Lanka (SEC), write in reply to the front page main article in the Daily FT of 13
Commissioners divided over SEC Chief Tilak’s move to make Acting DG permanent and the durationThe proposal by SEC Chairman Tilak Karunaratne at last week’s Commissioners meeting to make Acting Director General Prof. Hareendra Dissabandara permanent had faced a roadblock. The Daily FT learns
Following yesterday’s Daily FT exposure of concerns among dual citizens and recently returned expats over the new exchange rate rules, the Central Bank in a statement said that NRFC account holders could freely transfer funds. Daily FT learns the change by Central Bank was dated yesterday
By Chamitha Kuruppu UNP Parliamentarian Sujeewa Senasinghe yesterday filed a Fundamental Rights case against the Central Bank Governor at the Supreme Court challenging the prudence of Greek bond investments. Speaking to the Daily FT MP Senasinghe said, “I am seeking an interim
by the Daily FT. The need for a hands-off approach by the Executive ...
With US$ 500 m capital infusion national carrier ready for stronger take off By Cheranka Mendis Sri Lanka’s national carrier SriLankan Airlines and budget carrier Mihin Lanka are growing despite challenges and are no longer loss-making entities, SriLankan Airlines Chairman Nishantha Wickremasinghe said. Hosting a group of journalists around the SriLankan base in Katunayake, Wickremasinghe .....
D.E.W. Gunasekara says it is routine with 2010 Annual Report as subject; Ravi K says will take up reversed NSB-TFC deal and other stock market illsThe Chairman and Commissioners of the Securities and Exchange Commission (SEC) will appear before the Committee on Public Enterprises (COPE) today when Opposition is likely to query on ill doings ...
In the Daily FT article titled ‘Top economist fires warning on rapid rise in commercial borrowings,’ there were some inaccuracies with regard to public debt figure and percentage share of foreign debt. The correct figures are as follows: As at May 2012, public debt amounted to Rs. 5.90
In Sri Lanka to empower and enlighten Sri Lanka’s business community and budding entrepreneurs, Chair Emeritus and board member of the MIT/Stanford Venture Lab Gigi Wang will host a seminar titled ‘Success drivers of Silicon Valley – venture capital, investment and business opportunities for Sri Lanka’ tomorrow in collaboration with Infotechs Ideas. Speaking to the ...
Whilst tracking the key moments of the London Olympics, I realised how reliant I was on the text updates that beeped on my Blackberry and then when time permits go to YouTube or the official websites to experience this key happening as it unfolds to the world. But, then I realised that my friends had ...
The first-ever official-level India-Sri Lanka CEOs Forum will be held today, discussions at which are expected to focus on the way forward to double bilateral trade to $ 10 billion over the next few years. Since the current bilateral trade worth $ 4.8 billion is heavily in favour of India, the Sri Lankan CEOs team, ...
UNP MP Dr. Harsha De Silva claimed yesterday that political capture of the capital market regulator SEC wasn’t the answer to the ills of the Colombo Stock Exchange (CSE). In response to Daily FT’s lead story yesterday, which featured Finance Ministry Dr. P.B. Jayasundera’
I refer to the interesting article on the dairy sector in Tuesday’s edition of the Daily FT by Charitha Ratwatte. I would like to give my opinion as to why the dairy industry has languished in an ever deteriorating state, with a reducing national herd and limited growth in milk production