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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
THE agreement with the Board of Investment and the joint venture between top firms John Keells Holdings (JKH), Brandix Ltd., and MMBL to start a new domestic air operation will be signed today. Daily FT learns the new operations will be branded as Cinnamon Air, with JKH holding 40% stake
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 ...
By Cheranka Mendis Imperial Builders Pvt. Ltd., a real estate company from Pakistan, will initially invest US$ 14 million in the Slave Island (Station Passage) redevelopment program, conducted in partnership with the Urban Development Authority (UDA) and Ministry of Defence. This is exclusive of other accumulating costs and an investment of US$ 23 million is ...
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 ...
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
Finance Ministry Secretary Dr. P.B. Jayasundera is scheduled to hold a meeting today with the Securities and Exchange Commission (SEC) Chairman and Commissioners. The Daily FT learns the convening of SEC team including the Acting Director General is a follow up to the President and Finance Minister
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
Minister and All Ceylon Muslim Congress Leader Rishad Bathiudeen yesterday reiterated that he never made any threat to the Mannar Magistrate and District Judge. He said he had not seen the Judge or contacted him over any matter. “As a responsible Minister, I know the gravity of the crime and the consequence of threatening a ...
In response to the Daily FT article published on Monday capturing comments made at the President’s forum with capital market stakeholders on Friday, former SEC Chairperson Indrani Sugathadasa said yesterday: “I want to reiterate that I resigned from the SEC post upholding my principles
By Cheranka Mendis Asia Leisure, a fully-owned subsidiary of Asia Capital Group, yesterday announced a strategic tie-up with Japan Capital Pvt. Ltd., through which the latter has made an initial investment of US$ 1.8 million in Asia Leisure’s property in Wadduwa. Anticipated to be up and running by June/July next year, Japan Capital has bought ...
The IFS has sent a statement correcting Daily FT’s 19 July article titled ‘Gartner endorses IFS Applications’. IFS said the correct headline should be Gartner comments IFS applications in their report. Quoting extracts from the Gartner report on Magic Quadrant for Single-Instance
Says trade before politics and wants better connectivity for businessmen By Uditha Jayasinghe Sri Lanka should tap into the south Asian region, which is putting trade before politics, said a top official, calling for Sri Lanka to move ahead with the Comprehensive Economic Free Trade Agreement (CEPA). South Asian Association for Regional Cooperation (SAARC) Chamber ...
The Colombo Bourse’s performance will be under scrutiny today following what brokers described as “very positive” meeting on Friday with President Mahinda Rajapaksa who was emphatic that the stock market must be revived. The market on Thursday gained by 1.5% ahead of President’s meeting though on Friday it closed almost flat with low activity as ...
More expansion planned to ride the post-war rebound in tourism and entertainmentBy Cheranka Mendis Hilton Colombo Residence has embarked on a major renovation plan for the hotel to reap post war benefits starting with the expansion and refurbishment of its Union Ballroom. Completed in seven months at a cost of US$ 3 million, the Union ...
Acuity Stockbrokers Ltd. on Wednesday sent a strong message that it is time investors grabbed early opportunities to invest in equities based on attractive valuations as the “Lion” is leading frontier markets. Its latest research report on the Lankan economy and equity market was launched via a forum involving an expert panel and its clients. ...
With reference to Daily FT’s response (published on 9 July 2012) to Opposition Leader Ranil Wickremesinghe’s comments in Parliament on 5 July 2012, he made a further statement on 18 July. Here is the full text of Wickremesinghe’s statement made in Parliament on 18 July: "
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 ...
The relatively low rate under which the $ 1 billion 10-year sovereign bond issue was concluded is largely due to overall low yields in global markets and not necessarily because of claimed improvement in Sri Lanka’s fundamentals or the economy, independent analysts told the Daily FT yesterday
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 ...
Gaining effective control in Browns and Moody’s linked unit’s A- rating are positive developments say analysts Further improvements likely as LOLC progresses towards diversified holding company milestone LOLC last week effected what could be estimated as Rs. 7 billion mark topping acquisition since January 2010 as part of properly repositioning it as a diversified holding ...