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Carmart Ltd. yesterday said in a statement as well via an advertisement that it would continue to be distributor for Mazda vehicles and spare parts in Sri Lanka and the Maldives. The company was responding to a Daily FT article on Monday which quoted Colonial Motors Plc (via a filing to the Colombo
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 ...
A top Government politician is among scores of investors who have received notice of summons by the Securities and Exchange Commission (SEC) as part of regulator’s move to punish manipulative trading. The Daily FT learns the SEC has fired letters to concerned investors based on material
Popular Indian playback singer Udit Narayan arrived in Colombo yesterday along with a troupe of dancers, singers and musicians and is scheduled to make his first live public performance in Colombo tonight at the CH&FC grounds from 7p.m. Speaking to the media at a briefing held at the Taj Samudra Colombo yesterday, the Bollywood star ...
By Cheranka Mendis With the rising frequency of knee pains in almost all populations, partial and full knee replacement surgery is becoming increasingly popular in the region. This is how the surgery is done, shows Gleneagles Medical Centre Medical Director and Consultant Orthopaedic Surgeon Dr. Lim Lian Arn – Pic by Upul Abayasekara Gleneagles Medical ...
This letter is in response to the ‘Letter to the Editor’ by Luxman Siriwardena, which was published in the Daily FT on 8 June titled ‘Dr. PBJ: Protectionism or protecting the unprotected?’I refer to the response by Mr. Luxman Siriwardene of the Pathfinder Foundation to my article
Request meeting with Treasury Secy; say industry in vicious cycle; want relief from regulations By Uditha Jayasinghe Alarm bells are ringing for Sri Lanka’s vehicle importers after numbers plummeted by 20.8 per cent in April, motivating the industry to demand talks with the Government, an industry official said yesterday. Ceylon Motor Traders Association Chairman Thilak ...
to the Editor of the Daily FT. Yesterday’s column stated ...
UNP yesterday vowed to prove the truth with regard to whether EPF investments in non-blue chips are legal or illegal. “We categorically dismiss the renewed claims by the Central Bank and the EPF that its investments in non-blue chips are within the law. We will get the correct advice and take necessary action to prove ...
Nawaloka Hospitals has come forward as the official cardiac partner of ‘Arogya 2012’ International Healthcare Exhibition to be held from 17 to 19 August 2012 at the BMICH, Colombo. Nawaloka Hospitals being one of the foremost private sector hospitals in the country will display its strength in the ‘cardiac sector’ at ‘Arogya 2012’. Nawaloka Hospitals ...
By Cheranka Mendis Known as a silent disease, the risks for liver diseases within the region is under the threat of increasing if people do not go for early screening and adopt preventive methods at an early stage. Gleneagles Hospital Gastroenterologist Dr. Vincent Lai, in Sri Lanka to attend a lifestyle seminar on ‘What you ...
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 ...
Bank of Ceylon’s supremacy in Sri Lanka is well known but recently the bankers to the nation proved its true mettle with landmark success for its ground breaking $ 500 million five year bond issue. The issue is a trailblazer for several reasons. It was the first global bond issue by a Sri Lankan corporate. ...
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
Year to date negative return tops 20% Rs. 45 b in value wiped off; YTD loss figure tops Rs. 400 b mark The stock market crash persisted for the second consecutive day with more velocity yesterday as Rs. 45 billion in value was wiped off, propelling the year-to-date loss surpass Rs. 400 billion mark and ...
The SEC writes in response to the article appearing in the Daily FT dated 28th May 2012 under the heading “SEC reliance on private counsel ignoring AG’s Department raises eyebrows”. SEC was extremely surprised by the article appearing in your esteemed FT newspaper which attempts
The Securities and Exchange Commission of Sri Lanka (SEC) writes in response to the article published in Daily FT on Monday 28 May 2012 under the caption ‘Cracks in SEC?’ The article has stated that the Chairman has written to the Ministry of Finance that the Senior Commission
Further to the clarification issued by the Central Bank of Sri Lanka regarding the controversial The Finance Company (TFC), I would like to congratulate the President Mahinda Rajapaksa for rescuing its depositors. We know that it was President Rajapaksa who as Minister of Finance intervened to help hapless depositors of TFC and ordered the CBSL ...
Sri Lanka Tourism Promotion Bureau MD post is a permanent position and comes under scheme of recruitment approved by Treasury Rumy Jauffer hired on one-year contract sans an application or a CV Not marking attendance, unlimited use of fuel among flags-off in Auditor General’s Department query A host of queries by the Auditor General’s Department ...
Chairman writes for removal of Commissioner P. Jayawardena who failed to attend three consecutive meetings; Strained ties the cause, say insidersSome cracks have appeared within the Securities and Exchange Commission (SEC), just less than six months under new Chairman Tilak Karunaratne. The Chairman has written to the Finance Ministry that senior Commissioner P. Jayawardena must ...
By Deepal V Perera The volatile exchange rate environment since this year has dealt a fresh crisis for illegal money changers, though the positive outcome is that more transactions taking place officially. “The illegal money changers are now finding a crisis situation to match the daily changing rates, therefore forcing many to change their foreign ...
The Rules Committee of the Colombo Stock Exchange (CSE) is likely to meet shortly to study and recommend changes if any to the SEC’s directive issued on Friday incorporating some new regulations following the fiasco centring on the NSB-TFC transaction. Sources said that after a SEC directive is issued, the CSE’s Rules Committee, comprising three ...
Last week’s resignation of Dr. Nalaka Godahewa from three tourism entities whilst remaining Tourism Development Authority Chairman as exclusively reported by the Daily FT is being linked by industry circles as a direct fallout with Treasury Secretary Dr. P.B. Jayasundera. The strained
Dr. Milinda Salpitikorala’s latest collection of Skzin tees as well as sketches, paintings and digital artwork will be on display and up for sale at the Lionel Wendt Harold Pieris Gallery Colombo 03 today (26) and tomorrow (27) May from 10a.m. to 7p.m. in the artist’s debut exhibition. The exhibition will showcase works from past ...
Confirming the Daily FT’s exclusive report, the Securities and Exchange Commission (SEC) said yesterday it has issued a Directive dated 23 May 2012 to the Chairman and Board of Directors of Taprobane Securites (Pvt) Ltd. to suspend with immediate effect Dinal Wijemanne, CEO/Managing Director
To remain as Chairman of Tourism Development Authority Top professional Dr. Nalaka Godahewa yesterday resigned as Chairman of Sri Lanka Tourism and two other entities whilst continuing to serve as Head of Tourism Development Authority. “I have decided to resign from the Chairmanship of the Sri Lanka Tourism Promotion Bureau, Sri Lanka Tourism Convention Bureau ...
By The Lion Without Spot The Pure Ceylon Tea debate rages on. Though the dialogue so far has largely been confined to the print media on the way forward for Sri Lanka’s tea industry and it will no doubt open out the opportunity for discussion in other forums as well, in the days to come. ...
The Securities and Exchange Commission (SEC) has suspended the Investment Advisor role of Taprobane Securities CEO Dinal Wijemanne, who was also part of the consortium of sellers of TFC shares to NSB. Daily FT learns the SEC decision to suspend, made at Monday’s Commissioners meeting
In mid February, the Ceylon Electricity Board (CEB) informed consumers of their intention to revise their electricity charges from the following month. The March electricity bill issued to the consumer by the meter-reader was based on previous rate. The April bill based on revised rates with the addition of fuel surcharge for March was sure ...
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 by the Central Bank, raising fresh ...