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Confirming Daily FT’s article last Wednesday, Seylan Bank on Friday announced the appointment of Mohan Pieris as its new Chairman and said the former Attorney General will further strengthen the Bank’s Board. “With his exposure in the spheres of Banking, Finance and Commerce
- Fitch upgrades Seylan Bank to ‘A-(lka)’ (Category: Business)
- Gift bonanza for Seylan Tikiri Plus kids (Category: Business)
- New seylan Chairman assumes office (Category: Business)
- Seylan Bank expands network to Akuressa (Category: Business)
Clarifies 2011 per capita GDP computation technically correct but given fall in Rupee’s value in 2012 Central Bank should have been honest with greater disclosure and putting data in context As per IMF staff report Net International Reserves in 2011 alarming low at $ 4 b; Net Open Position below $ 3 b; Short Term ...
- CB data: Cabraal shoots down Harsha’s claim (Category: Business)
- CB statistics under fire (Category: Business)
- Borrowed surplus looming, warns Harsha (Category: Business)
- The GDP Per Capita in the Central Bank Annual Report for 2011 (Category: Business)
HNB Board was richest in 2011 whilst colleagues at Sampath got less than 2010 The country’s most profitable sector, the commercial banks, whilst having increased bottom line also saw their Board directors taking home a tidy sum. A sample of seven commercial banks analysed by the Daily FT
- Executive pay bloats board cost (Category: Business)
- Shareholders furious over lack of disclosure, sale plan of MBSL’s savings subsidiary (Category: Business)
- MBSL selling savings bank for a song! (Category: Business)
- Qualified daughters make their way to boards (Category: Business)
in tomorrow’s Daily FT. Reserve your copy today.
UNP MP Dr. Harsha de Silva backs Daily FT columnist on per capita income data, claimsfigures too inflated and Govt. trying to mislead people and global stakeholders; CB getting more politicised By Uditha Jayasinghe Firing another salvo at the Central Bank, UNP MP and economist Dr. Harsha De Silva
- Harsha says CB has moral responsibility to be more transparent (Category: Business)
- CB data: Cabraal shoots down Harsha’s claim (Category: Business)
- Misleading the public (Category: Business)
- May Day, May Day over May 2011 data (Category: Business)
Hemas Holdings Plc is confident that contributions and insights from its newest Director on the Board, R. Gopalakrishnan, a top executive from Tata Sons and formerly from Hindustan Unilever will help the local conglomerate’s growth via acquisitions as well as forays into the region. Hemas last week announced the appointment of Gopalakrishnan, Director of Tata ...
- Top Indian biz leader and Tata Sons Director joins Hemas board (Category: Business)
- Director Tata R Gopalakrishnan Joins Hemas (Category: Breaking News)
- MSCI slightly increases India’s weighting in EM Index (Category: Business)
- Cyrus Mistry, a Tata in all but name (Category: Business)
Royal Ceramics sees prospects and related party synergies in 51% buy of Asia Siyaka Commodities for Rs. 363 m New Chairman Nimal says broking, credit and warehouse biz will be expanded Listing via introduction coming up The famous duo Dhammika Perera and Nimal Perera last week effected the 12th acquisition, reaffirming their prowess of growing ...
- RCL raises Rs. 383 m via share sales for Asia Siyaka buy (Category: Business)
- Dhammika collects more Hayleys shares (Category: Business)
- Trying time for tea (Category: Business)
- Royal Ceramics’ 2Q shines with half a billion pre-tax profit (Category: Business)
The Central Bank, in its latest Annual Report, has downgraded its growth forecast for 2012 from eight per cent to 7.2 per cent. This is due to a combination of adverse global developments and the negative effects of domestic policy misalignments. The contractionary measures introduced to address the imbalance in the trade account (i.e. to ...
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- International financial institutions and development in Asia (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Central Bank’s Check List for 2012 and beyond (Category: Business)
The Daily FT article published yesterday that stated that a former AG was to be appointed as Chairman of Seylan Bank gave me some concern. This trend of appointing retired Government servants close to the administrations to top positions in the private sector is a clear indication of the Central
- AWPR rose by 120 basis points in 2011 private sector credit growth robust (Category: Breaking News)
- Credit card for Sri Lanka public employees (Category: Breaking News)
- Govt. bank employees go on strike (Category: Breaking News)
- A Pension Scheme for the Private Sector (Category: Breaking News)
Importers secure increase in age limit for cars and commercial vehicles; higher duty to stay President Mahinda Rajapaksa yesterday stepped up the accelerator for re-conditioned vehicles agreeing to revise the recently imposed age limit rules at a meeting with importers. Responding to pleas by motorists as well as Vehicle Importers Association, the President has agreed ...
- Reconditioned vehicle import rule reversed (Category: Breaking News)
- Restrictions on reconditioned vehicle imports relaxed (Category: Breaking News)
- Vehicle Importers Lament Tax Increase (Category: Breaking News)
Daily FT/Weekend FT will not be published on Friday and Saturday on account of Sinhala-Hindu New Year holidays. The next issue of Daily FT will be on Monday 16 April, 2012.
- Bike Market (Category: Business)
- Stock market crashes to lowest level in 2011 (Category: Breaking News)
- Forestry Tas set to be split (Category: Australia, Tasmania )
- VIDEO: A look inside the vertical ship (Category: Technology)
Many readers would have by now heard and read about the annual Oxford – Cambridge boat race over the weekend, where a spoiler sprang an underwater surprise and about an oar that broke. All this led to what I would term as a less than wholesome win awarded to Cambridge. Almost three weeks ago, I ...
- Final countdown starts to London Games (Category: Business)
- ‘The Artist’ Wins Producers Guild’s Best Picture Award (Category: Business)
- F1 looks for a pattern in the unpredictable (Category: Business)
- Phelps quits the pool with unchallenged record (Category: Business)
Govt. move sends Ceylon Tobacco’s market cap soaring to Rs. 112.2 bThe upward revision in tax on cigarettes as well as foreign interest saw market value of Ceylon Tobacco rocket to over Rs. 112 billion last week. It is the first time that CTC’s market capitalisation had surpassed the Rs. 100 billion mark. Last week ...
- CTC overtakes Carson to be third most valuable stock (Category: Business)
- Bourse back to double digit dip (Category: Business)
- Losses at Bourse balloon to Rs. 142 b (Category: Business)
- A Shift From Growth To Yield (Category: Business)
The Daily FT on Thursday featured on page 1 a story based on some startling comments and allegations by UNP MP Dr. Harsha De Silva and young business leader Dilith Jayaweera. The headlines and the contents wouldn’t have been a good read for President Mahinda Rajapaksa
- Rocky Road (Category: Business)
- Not Under (Category: Business)
- Six new Bank branches in the North next week (Category: Breaking News)
- Commercial Bank arrives at Maskeliya (Category: Business)
World famous Olivia Newton John last night produced a stellar performance in her first live concert in Colombo at Musaeus College Auditorium. Internationally-acclaimed multiple Grammy award winner Olivia will be holding her second and final concert tonight. The shows are produced by Wizard Entertainment. She arrived on Tuesday night and was accorded a warm welcome ...
The CBSL’s directive issued last year, which takes into account credit, market, operational and liquidity risk, is very much in line with the recommendations of the Bank of International Settlements (BIS), which recommends in particular capital adequacy for government banks, said internationally-renowned risk consultant and CEO/Principal of Independent Global Research Ltd. David Roden. Addre...
- CAL reiterates importance of risk management best practices for emerging markets (Category: Business)
- Sri Lanka wants banks to strengthen risk management (Category: Breaking News)
- Risk professionals hold first-ever forum (Category: Business)
GlaxoSmithKline, one of the top three global research based pharmaceutical companies operating in over 117 countries, is to invest a further $ 11.2 million (over Rs. 1.4 billion) in expanding its operations in Sri Lanka. The company will also shortly commission a new facility in Moratuwa for manufacturing their global brand Panadol. The investment on ...
- Logan Rockefeller enters Lanka (Category: Breaking News)
- Slow Forecast (Category: Business)
- Rising Risk (Category: Business)
- Global Member (Category: Business)
By Cassandra Mascarenhas The latter part of the forum on insider trading titled ‘Insider Trading – Good, Bad or Ugly’ organised by the Institute of Chartered Corporate Secretaries of Sri Lanka and the Securities and Exchange Commission of Sri Lanka in partnership with the Daily FT
- Insider trading: Good, bad or ugly? (Category: Business)
- SEC considers 10% minimum float rule (Category: Business)
- High net worth traders who are insiders create market volatility (Category: Breaking News)
- Share Market Volatility – Causes and Remedies – Part Two (Category: Business)
By Cheranka Mendis While Sri Lanka’s largest mega trade, investment and tourism promotion initiative ‘Expo 2012’ has been welcomed by stakeholders as a timely affair, stallholders shared mixed feelings on the order of the show. Some were elated having received inquires just two days into the event, while others expressed disappointment with regard to the ...
- Expo 2012 garners $ 66,000 worth global orders (Category: Business)
- Over 55 tour agents, 50 international journalists for Expo 2012 (Category: Business)
- Robust exports to get boost via Expo 2012 (Category: Business)
- Sri Lanka Expo 2012 – A showcase of high quality products and services (Category: Business)
Global Rubber Industries on Monday consolidated its holding in Ceylinco Insurance via an in-house deal, although at a premium. The company bought 112,000-voting-shares block (around 0.5% stake) at Rs. 850 each (up by Rs. 125 or 17% from previous close) from related party Prabash Subasinghe, who as at end last year held 1.04 million shares. ...
- Battle for Ceylinco Insurance shares persists (Category: Business)
- Subasinghe family ups stake in Ceylinco Insurance (Category: Business)
- In-house Fund collects rare quantity (Category: Business)
- Trading Monday (Category: Business)
By Cassandra Mascarenhas Bringing to the spotlight an issue that has plagued the Sri Lankan stock market over the past several months, the Institute of Chartered Corporate Secretaries of Sri Lanka and the Securities and Exchange Commission of Sri Lanka in partnership with the Daily FT
- Insider trading: Is it rampant, cause for market’s ill or mere paranoia? (Category: Business)
- Seminar on insider trading (Category: Business)
- New SEC Chief says won’t turn blind eye to robbers invading bourse (Category: Business)
- Top global expert to share ‘good, bad and ugly’ of insider trading (Category: Business)
By Cassandra Mascarenhas Newly appointed Chairman Tilak Karunaratne yesterday emphasised that the Securities and Exchange Commission (SEC) will not turn a blind eye to robbers invading the Bourse and promised stringent action against those engaged in insider dealing and manipulation. Speaking for the first time at a public forum since assuming duties, Karunaratne told the ...
- Insider trading: Good, bad or ugly? (Category: Business)
- TISL wants Govt. to strengthen resolve against “stock market mafia” (Category: Business)
- Insider trading: Is it rampant, cause for market’s ill or mere paranoia? (Category: Business)
- Market must earn confidence to be more attractive for investors: SEC (Category: Business)
EDB says 1,350 visitors from 55 countries already registered; flow halted due to lack of rooms The first-ever international style exhibition to promote exports in 18 years, Sri Lanka Expo 2012, which kicks off on Wednesday, has drawn 1,350 visitors from 55 countries with further demand facing a snag due to unavailability of hotel accommodation. ...
- Expo 2012: A huge success for Sri Lanka Tourism (Category: Business)
- Expo 2012 garners $ 66,000 worth global orders (Category: Business)
- Robust exports to get boost via Expo 2012 (Category: Business)
- Large Indian business presence at Sri Lanka Expo 2012 (Category: Breaking News)
By Uditha Jayasinghe Showcasing the need for vigilance, over 1,500 foreigners who remained illegally in the country after their visas expired were detected within the first two months of 2012, a top immigration official said yesterday. Controller General of Immigration and Emigration Commissioner for Registration of Persons of Indian Origin W. Perera told the Daily ...
- Information of overstaying foreigners requested (Category: Business)
- E Monitoring (Category: Business)
- Frenchman arrested by CID (Category: Breaking News)
- 250 visa overstayers deported (Category: Breaking News)
Dr. Milinda Salpitikorala is set to launch his new t-shirt line and host an exhibition of his latest drawings, set to literally rock Cololmbo. The Skzin (pronounced skin) designer label, keeps alive the grungy glamour of rock, its designs drawing influence from rock and metal, genres of music the ‘Doc’ has held close to his ...
- Skzin and Bones: The darker side of art and design (Category: Business)
- Skzin Designs 2012 launches tomorrow (Category: Business)
- Skzin and Bones: Opens today at the Lionel Wendt (Category: Business)
- Embark launches “Niko Rocks” (Category: Business)
For a change, there is good news from Sri Lanka Cricket with the new administration led by Upali Dharmadasa succeeding in achieving record ticket sales worth over Rs. 80 million so far for the two Test matches with the visiting England team. “The amount raised so far is a record,” Tour Organising Committee Chairman Asanga ...
Suren Rajanathan is Vice President of 3M Sri Lanka, an innovation-based company which boasts a catalog of over 1,000 products sold in Sri Lanka that span 25 different business categories. 3M has an income internationally of $30 billion in sales, employs about 84,000 people worldwide, and has operations in more than 65 countries with products ...
- Leveraging 3M capabilities to build businesses (Category: Business)
- Suresh joins 3M as Head of Marketing (Category: Business)
- 3M rewards individual excellence at Annual Awards Night (Category: Business)
- 3M launches Long Life Coolant (Category: Business)
and Exchange Commission (SEC) in partnership with the Daily FT. Dissanaike will ...
- Seminar on insider trading (Category: Business)
- New SEC Chief says won’t turn blind eye to robbers invading bourse (Category: Business)
- Insider trading: Good, bad or ugly? (Category: Business)
- Insider trading: Is it rampant, cause for market’s ill or mere paranoia? (Category: Business)
The Janatha Vimukthi Peramuna (JVP) spokesman and parliamentarian Anura Kumara Dissanayaka in an interview with the Daily FT critiques the on-going sessions of the UN Human Rights Council (UNHRC), the state of bad governance, deteriorating law and order and the economic crisis in the country.
- Dispelling misinformation and myths regarding the UNHRC resolution and its impact on Sri Lanka (Category: Breaking News)
- Use conciliatory diplomacy to deal with US-sponsored resolution (Category: Breaking News)
- Can Sri Lanka’s government implement the LLRC recommendations? (Category: Breaking News)
- SL attends UNHRC sessions with impressive post-conflict records: Former AG (Category: Business)
The country’s forex market encompassing highly dependent importers and key source exporters was yesterday rocked by what analysts described as the sharpest day gain in the US dollar exchange rate. Before mid-day the Rupee touched a new low of Rs. 127 and then on to Rs. 128 prompting many to assume the rate had bottomed ...
- Rupee hits new low despite inflows (Category: Business)
- CB gives fresh boost to CSE (Category: Business)
- Markets becalmed (Category: Business)
- Rupee weakens on importer dollar demand (Category: Business)
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