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With the rejection of the Cabinet decision proposed to resolve the problem of university academics, the issue seems to be dragging without a settlement. The lecturers’ main demands are a salary increase, increase in Government funding of the education system to 6% of GDP (Gross Domestic Product), end to political interference in education, and establishment ...
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison to record 8.3% growth achieved ...
The share price of Aviva NDB Insurance Plc yesterday soared to a record high as investors took speculative positions on the impending sale of its control. The company’s stock price hit an all time high of Rs. 448.90 during the day before settling down at Rs. 436.60, up by a whopping Rs. 67 or 18% ...
UNP MP Dr. Harsha de Silva yesterday decried the serious slip in good governance and effectiveness at the Securities and Exchange Commission (SEC), saying the stench was unbearable. With reference to Daily FT article on SEC’s decision to send letters of assurance to 50 investors
The Unit Trust Association (UTA) is to present a proposal to the Securities and Exchange Commission (SEC) on increasing awareness of their industry to attract retail investors to the stock exchange. UTA President P. Asokan told Daily FT that the decision was taken at a meeting held with SEC
Over 15 Sri Lankan senior professionals and young talent in attendance; 17 entries from Sri Lanka in record haul of 4,860 from 23 countries this year The largest-ever creative communications festival in Asia Pacific, the three-day Spikes Asia 2012, kicked off on Sunday in Singapore. Over 500 industry professionals from 27 countries including over 15 ...
Close to 4,900 entries across 16 award categories A record number of Spikes Asia entries have been submitted this year, totalling 4,860 from 23 countries. The largest creative communications festival in Asia Pacific, which kicks off on Sunday in Singapore, is also set to welcome industry professionals from 27 countries who over two insightful ...
The Colombo Stock Exchange (CSE) is turning to become a real market of producing a dip and a gain within a day, showing early signs of maturity though some remain sceptical overall. Having appreciated by nearly 11% in 12 market days, there was quick profit taking in early morning trading yesterday. This saw the ASI ...
By Cheranka Mendis The fourth edition of Lanka Challenge is now underway with 45 foreign participants making their way to Jaffna in three wheelers. Organized by Large Minority, in the challenge popularly known as the ‘tuk’ or ‘three wheeler’ challenge, it is the first time that participants are taken to the northern quarter of the ...
The Securities and Exchange Commission (SEC) is likely to get a new Commissioner following the Government's decision to make a change as opposed to the previous move. A Finance Ministry official confirmed there has been a change but didn’t give details. Previously Pricewaterhouse-Coopers Partner and former Ex-Officio Commissioner Sujeewa Mudalige was named among new appointees ...
Sri Lankan Architect practicing in USA is in Sri Lanka to replicate his success in Panama here “Architecture is an art; a pragmatic art. It is a science, a sensuous science,” says Archt. Dr. Raj Barr-Kumar. Here in Sri Lanka to initiate three projects incorporating sustainability, latest technology and modern design, Barr joined the ...
Commissioners given freedom to decide future course with regard to DG post Dr. Jayasundera says top professionals picked to give leadership to a sound capital market growth Priyantha and Sujeewa served as Commissioners under Indrani Sugathadasa as well Opposition and certain market segments decry choice of men given their conflicting roles By Nisthar Cassim Likely ...
By Marianne David and Cheranka Mendis Sri Lanka Tourism yesterday told the Daily FT that the Department of Wildlife would set up a meeting with both the Tissamaharama Jeep Association and the officials of the three tented mobile safari operators in order to arrive at “an amicable settlement
Dr. Nalaka Godahewa has resigned as the Chairman of Divasa Finance Ltd. last week. Analysts widely believe the move as a precursor to the impending appointment of Dr. Godahewa as the new Chairman of the Securities and Exchange Commission (SEC), which the Daily FT exclusively reported on Saturday
Given first half performance, believes several 2012 Roadmap targets will be missed UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday claimed that most of the Central Bank’s 2012 Roadmap targets were likely to be missed, based on below par performance on the external trade front during the first half. ...
The resignation of Tilak Karunaratne as the Chairman of the Securities and Exchange Commission (SEC) has been accepted whilst a successor will be named next week, Finance Ministry Secretary Dr. P.B. Jayasundera said. The confirmation by the Treasury Secretary ends week-long uncertainty whether the SEC Chief’s quit notice would be accepted or not, even though ...
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
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 rally as reported by the Daily FT yesterday continued with ...
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 &...
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
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 the Daily FT. The need for a hands-off approach by the Executive ...
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 ...
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’
At Tuesday’s meeting Finance Ministry Secy. reiterates united effort by all to revive Colombo Bourse To appoint all stakeholders-comprised Consultative Committee for regular dialogue and consensus Credit rule to be revised to boost retail participation; fresh support to brokers in the offing, among other measures Meeting with top listed blue chips to be convened next ...