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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 ...
- SCB checkmates cameo CB! (Category: Business)
- Value investors enter as speculators exit (Category: Business)
- Growth to slow down in 2012 –Central Bank (Category: Breaking News)
Investors reacted positively to Cargills (Ceylon) Plc’s last week’s announcement of its tie-up with world famous restaurant chain TGI Friday’s, with the former’s share price gaining by 2% or Rs. 2.90 to Rs. 158.90 after hitting an intra-day high of Rs. 159. The counter saw 8.501 shares traded between a high of Rs. 159 and ...
- Cargills posts commendable performance in 1Q (Category: Business)
- This is what the KFC of the future will look like (Category: USA, Maryland)
- This is what the KFC of the future will look like (Category: USA, Nebraska)
- This is what the KFC of the future will look like (Category: USA, New Hampshire)
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% ...
- Aviva-AIA deal signed, announcement today (Category: Business)
- CDIC buys 5% Aviva NDB Insurance stake from NDB (Category: Business)
- Aviva dips, NDB stocks’ rise persist (Category: Business)
- Asian Alliance market cap triples in a month to Rs. 14.3 b (Category: Business)
The Opposition yesterday charged in Parliament that the Government was deliberately evading questions on the Employees Provident Fund (EPF) due to “shady investments” after the issue was postponed for a fifth time. United National Party (UNP) MP Dr. Harsha de Silva told the Daily FT
- No investigations yet on EPF transactions (Category: Business)
- EPF and ETF tangled up! (Category: Business)
- EPF welcomes S&P’s soother (Category: Business)
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
- SEC appoints Consultative Committee for capital markets (Category: Business)
- Nalaka’s first Commissioners’ meeting today (Category: Business)
- SEC not summoned by COPE - sources (Category: Breaking News)
- SEC revises IPO allocations for small retail investors (Category: Business)
The unprecedented drought over the past few months due to the long delay of the south-west monsoon affected the entire country, resulting in withered paddy-fields to farmers; chicken farmers forced to slaughter animals due to water scarcity, soaring vegetable prices for housewives, and power cuts for everyone. The effects of the drought, the victims and ...
- The drought, Mahaveli waters and the farmer (Category: Business)
- Paddy farmers’ problems (Category: Business)
- CEB: Making losses or deliberate blunders? (Category: Business)
- Reservoirs run dry with no rains, country heading for electricity crisis (Category: Breaking News)
In the article titled ‘Bank marketing: From 1P to 6Ps’ by Prof. Uditha Liyanage published in Daily FT yesterday, the model which forms the basis of Prof. Liyanage’s paper had been inaccurately presented. It should be as follows:
Vandenberge yesterday told the Daily FT that ...
- Sri Lanka ranks high in 'medium' human development (Category: Breaking News)
- SLINTEC enters strategic technology development agreement with NFCL, India (Category: Business)
- From science to commercialisation (Category: Business)
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 ...
- Bourse turns red (Category: Business)
- Bourse ends week on the up (Category: Business)
- Stock market’s return dips below 1% again (Category: Business)
- Stock market rises (Category: Business)
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 ...
- Ex-IGP Cyril Herath no more (Category: Business)
- Ex-Kenya coach Hesson to take over N.Zealand (Category: Business)
- Ex-Bribery Chief laments non-payment of arrears (Category: Business)
- Call Dialog for ex-Airtel Lanka CEO Amali (Category: Business)
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 ...
- Mudalige out; Kalinga in (Category: Business)
- Ex-SEC DG Channa appointed to Pan Asia Bank board (Category: Business)
- Ex-Bribery Chief laments non-payment of arrears (Category: Business)
- SEC Annual Report: No show of Indrani and thankless to ex-DG Malik (Category: Business)
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. ...
- Harsha renews call for swift action against NSB-TFC deal makers (Category: Business)
- Readying for a fight? (Category: Business)
- Central Bank emphatic dollars are coming (Category: Business)
- Imports swell, exports lose steam (Category: Business)
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 ...
- Harsha decries stench emanating from SEC (Category: Business)
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
- Malik moves out, market makes merry! (Category: Business)
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
- Standard & Poor’s upgrades Standard Chartered Bank to AA- (Category: Business)
- NDB Bank’s net profit up 13% to Rs. 1.7 b by September (Category: Business)
- Union Bank opens in Ratnapura (Category: Business)
- Lion leads frontier markets (Category: Business)
. The rally as reported by the Daily FT yesterday continued with ...
- CTC overtakes Carson to be third most valuable stock (Category: Business)
- Jumbo profit at JKH (Category: Business)
- IIFL gets big deal (Category: Business)
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 &...
- Nihal files fresh motion in District Court of Colombo over Hotel Developers (Category: Business)
- Let’s put market back on track, Nalaka tells SEC (Category: Business)
- Nihal’s FR Application on the Expropriation Law (Category: Business)
- Internal restructuring at SEC for better focus (Category: Business)
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
- Rocky Road (Category: Business)
- Not Under (Category: Business)
- Excess Liquidity (Category: Business)
- New Banks in North and East (Category: Breaking News)
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
- Central Bank makes substantial gains in reserve management (Category: Business)
- Sri Lanka central bank defends FX reserve management (Category: Breaking News)
- Senior minister defends Sri Lanka Central Bank's investment in Greek bonds (Category: Breaking News)
- Central Bank defends investment in Greek bonds (Category: Breaking News)
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 ...
- NSB-TFC deal: CID questions Kariyawasam (Category: Business)
- A comprehensive investigation is underway on TFC-NSB deal – SEC (Category: Breaking News)
- NSB’s custodial role suspended, Sampath clears Friday settlements (Category: Business)
- NSB Head gives quit notice (Category: Business)
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, ...
- More Lankan CEOs queuing for India (Category: Business)
- Top Lankan CEOs bullish post Indo-Lanka meet (Category: Business)
- India, Sri Lankan CEOs meet (Category: Breaking News)
- CA Sri Lanka holds CEOs’ Forum (Category: Business)
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 ...
- SEC succumbs! (Category: Business)
- Dr. jayasundera-capital market meeting positive (Category: Business)
- Brokers delighted by talk, lunch with President (Category: Business)
- Dr. PB to meet SEC Commissioners today (Category: Business)
The six months Treasury Bill Weighted Average Yield (WAY) rose yesterday contrary to market expectations, Wealth Securities Ltd said. “Against market expectations and the downward momentum created at last week’s auction, the six months bill weighted average edged up by two basis points to 12.87% at its weekly Treasury bill auction held yesterday,” the debt ...
- Treasury bill WAY increases across all maturities (Category: Business)
- Hike Stalled (Category: Breaking News)
- Fresh shock in forex market as rupee breaks 132 barrier to hit a month low (Category: Business)
- Money market liquidity increases once again (Category: Business)
The weighted averages at this week’s Treasury Bill auction dipped marginally for the first time in six weeks, debt market specialist Wealth Trust told the Daily FT. The dip reversed an upward trend in rates over the past few weeks, it added. The 91 day and 364 day maturities dipped
- Asian Alliance market cap triples in a month to Rs. 14.3 b (Category: Business)
- Bourse blues continue (Category: Business)
- Six months Treasury Bill WAY jumps against expectations (Category: Business)
- Consumers Living In The Red (Category: Breaking News)
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets
- Lion leads frontier markets (Category: Business)
- Sri Lanka’s growth world’s fourth best! (Category: Business)
- Sharper slip in Sri Lanka’s rank in global competitiveness (Category: Business)
Industry experts urge disillusioned local investors to ‘buy when it’s down and sell when it’s up’ In a highly volatile atmosphere and with low investor confidence in the Colombo Bourse, experts earlier this week went against the negative sentiments and instead stated that now is the time to buy. These views were aired at a ...
- Why Lion leads frontier (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- Sustainability in volatility: The bankers’ challenge (Category: Business)
Sri Lanka’s $ 1 billion10-year sovereign bond launched on Tuesday saw strong demand, being oversubscribed by more than 10 times before the order book was closed, Reuters said, quoting unnamed sources close to the deal. “As of now it has been oversubscribed by more than 10 times and we see strong demand for the ...
- Bond Sale (Category: Business)
- Bond Launch (Category: Business)
- Deal Awards (Category: Business)
- CB Chief urges more corporates to go for bonds after BOC’s mega success (Category: Business)
Last week in Parliament, Opposition Leader Ranil Wickremesinghe singled out Daily FT in his usual criticism on newspapers. Among various allegations made by Wickremesinghe was that the FT is one of the papers which is in the pay of the so-called “stock market mafia” and the Central Bank
- Harry’s Melstacorp buys 11% more in Spence for Rs. 5 b (Category: Business)
- LOLC Group ‘buys’ top Rs. 7 b in two and half years (Category: Business)
- DFCC buys 10% NTB stake for Rs. 1.3 b (Category: Business)
- Controlling shareholder CFLB buys 12% more of Colonial Motors for Rs. 319 m (Category: Business)
"We expect all reports must be true and accurate. Today I found in the FT that what I said (yesterday) is reported in three sentences (reference to 5 July Daily FT’s Page 1 story titled ‘Ranil calls for suspension of EPF investments’). I want to bring this to your (House
- Ranil brush up! (Category: Business)
- UNP vows to prove the truth (Category: Business)
- Harsha rebuffs CB’s rosy EPF story (Category: Business)
- Ranil raises red flag over EPF, ETF in Parliament (Category: Business)
Sri Lanka CEO Nick Nicalaou dismisses exit rumours; says local operations robust and post-war future in the country looks very promising World’s local bank celebrates 120 years of excellence in Sri Lanka on 1 July, invests $ 7 m for major upgrade of Head Office in Fort By Nisthar Cassim HSBC, which is ...
- HSBC Group GM and Head of International Asia Pacific visits Sri Lanka (Category: Business)
- Successful $ 500 m BOC Bond is landmark says HSBC CEO (Category: Business)
- HSBC clinches award for best Sri Lanka deal (Category: Business)
- HSBC puts banking on the palm of a customer’s hand (Category: Business)
In a major breakthrough in financial services industry, New World Securities Ltd. has succeeded in attracting over Rs. 2 billion worth of Japanese investments so far in to Government bonds with more on the cards. “We have successfully drawn around Japanese Yen 1.2 billion (over $ 15 million in face value) funds into Government securities ...
- Japanese to invest US$ 125mn in Treasury bills and bonds (Category: Business)
- SL owes $ 15 b on foreign borrowings since 1997 (Category: Business)
- New World Securities breaks new ground to woo Japanese investors (Category: Business)
- Investment Forum in Tokyo woos Japanese investors (Category: Business)
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