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By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
- Bourse boom awaits boosted brokers after Presidential forum (Category: Business)
- Tilak talks his way out of SEC (Category: Business)
By Cassandra Mascarenhas The Government eServices project spearheaded by the ICT Agency of Sri Lanka celebrated a landmark achievement last evening, launching 22 important eGovernment services, further strengthening the country’s Government sector by making public services easily accessible to the citizens of Sri Lanka via the internet and mobile communication systems. Presidential Secretary...
- Special New Year transport information via 1919 (Category: Business)
- ICTA’s Lanka Gate e-services project for better public service (Category: Business)
- Number of Lanka Gate users per day exceeds 3,000 (Category: Business)
- Reservoir level updates via SMS to farmers (Category: Business)
UNP MP Dr. Harsha de Silva yesterday issued the following statement on the new appointments to the Securities and Exchange Commission (SEC): Is the Government’s message to go ahead and engage in fraud at the CSE without worrying about getting caught? If the Minister of Finance was genuinely concerned in re-establishing a fair and equitable ...
- Get the facts about election fraud claims as Congress ratifies Electoral College votes (Category: USA, Nebraska)
- Get the facts about election fraud claims as Congress ratifies Electoral College votes (Category: USA, Maine)
- Get the facts about election fraud claims as Congress ratifies Electoral College votes (Category: USA, Mississippi)
- Get the facts about election fraud claims as Congress ratifies Electoral College votes (Category: USA, New Hampshire)
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)
Keheliya says Finance Ministry could probe SEC Chief’s claims; Harsha wants action By Uditha Jayasinghe In the wake of Securities and Exchange Commission Chairman Tilak Karunaratne resigning, the Government yesterday said that it would consider the possibility of introducing legislation to curb white collar crimes. Responding to questions at the weekly Cabinet briefing, Media Minister ...
- Harsha says political capture of SEC not the answer to ills of CSE (Category: Business)
- Summon SEC, CSE officials, Ravi K writes to COPE (Category: Business)
- The Changing role of the Finance and Accountancy function (Category: Business)
Point of view By a market participant The investors were compelled to wait nearly 17 years to reap the benefit of a real bull run in 2009 after the elimination of the LTTE terrorism and how the SEC destroyed it within a one-and-a-half year period due to ill conceived, irresponsible decisions is well known and ...
- Real potential of the Colombo stock market (Category: Business)
- Bourse boom awaits boosted brokers after Presidential forum (Category: Business)
- Brokers delighted by talk, lunch with President (Category: Business)
- More about the real potential of the stock market (Category: Business)
By Cassandra Mascarenhas The technical sessions of the Association of Professional Bankers’ 24th anniversary convention were held yesterday, bringing the APB’s flagship event to a close. Aptly themed ‘Sustainability in volatility: The bankers’ challenge,’ each technical session explored an area that could throw obstacles in the path of bankers and the line-up of speak...
- More than ever, businesses must think ‘what if’ (Category: Business)
- Banking foresight – Shaping integrated development (Category: Business)
- APB to promote ‘Sustainability in Volatility’ at 24th anniversary convention (Category: Business)
- Threat of recession contains risk of further global bank failures (Category: Business)
Tabling a recent communication by the EPF accusing that attacks on the EPF have been stepped up since December 2011 by a “particularly vociferous US-linked anti-China opposition MP carrying out a contract for unspecified foreign interests to wrest control of the EPF to private parties
- EPF rejects UNP MP’s allegations of fraud (Category: Business)
- Sri Lanka’s EPF says, an opposition MP is trying to destabilize the economy (Category: Breaking News)
- Stock Defence (Category: Business)
- Stock Purchase (Category: Business)
By Ashwin Hemmathagama Our Lobby Correspondent The Government has been repeatedly mentioning that the economy is in sound condition and reserves are very securely and lucratively invested. However, UNP MP Ravi Karunanayake moving yesterday’s adjournment motion accused the Government of robbery." “On examination of the state of the economy we find that the Government, especially ...
- Sri Lanka to implement wider monetary policies to strengthen national economy (Category: Breaking News)
- Global Trend (Category: Business)
- Long Cycle (Category: Business)
- Downside Risks (Category: Business)
Independence from the Executive for the Securities and Exchange Commission (SEC) and greater powers as well as regulation were among issues which had surfaced at yesterday’s meeting between the capital market regulator and the Committee on Public Enterprises (COPE) as exclusively reported by the Daily FT. The need for a hands-off approach by the Executive ...
- SEC appoints Consultative Committee for capital markets (Category: Business)
- Mahinda minds stock market woes (Category: Business)
- Tremors over Tilak’s talk! (Category: Business)
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)
UNP MP Dr. Harsha De Silva yesterday warned that a clear trend of the fallout from the gambling of public money had emerged with the latest ruling from a London Court hot on the heels of losses suffered from equity market and European junk bond deals. “The London Court ruling is a further confirmation of ...
Renews call for Select Committee to probe shady deals; wants EPF investments in stocks halted Blasts President-Bourse forum Says CSE Board must be dissolved Akin to firing all cylinders, Opposition Leader Ranil Wickremesinghe has blasted President Mahinda Rajapaksa’s forum with capital
- US probe into Chinese client deals fresh challenge to Deloitte (Category: Business)
By a Special Correspondent A year or back from today, Sri Lankan economy had been sailing strongly amidst global economic typhoons. Most of the macro variables were reflecting peace dividends and rejuvenated hope. However, by mid 2011, the country’s trade deficit, fuelled by credit expansion was signalling early signs of an economic turmoil. Perhaps being ...
- Why Lion leads frontier (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
- Flexible exchange rates and impact on exporters (Category: Business)
- Value investors enter as speculators exit (Category: Business)
The bearish stock market’s struggle persisted yesterday despite expectations of a rebound in sentiments following the dialogue between capital market stakeholders and President Mahinda Rajapaksa on Friday. The benchmark ASI closed six points down (0.13%) and MPI by over 23 points (0.5%) whilst S&P Sri Lanka 20 dipped by six points. Turnover was a modest ...
- Maui home prices reached new peaks last year (Category: USA, Hawaii)
- Maui home prices reached new peaks last year (Category: USA, Hawaii)
- Maui home prices reached new peaks last year (Category: USA, Hawaii)
- Maui home prices reached new peaks last year (Category: USA, Hawaii)
Economic think tank andndash; Pathfinder Foundation in its latestandnbsp; Economic Flash has pointed out that independence of Employment Provident Fund (EPF) should be ensured when andnbsp;investing in the Colombo Stock Exchange (CSE) adding that necessary safeguards should be in place to protect
Authorities must address criticisms over the adequacy of safeguards when investing in the Colombo Stock Exchange through the Employees’ Provident Fund (EPF) and make the entire process more transparent, according to a statement by a local think tank
Considerable controversy has arisen regarding Employment Provident Fund (EPF) investment in the Colombo Stock Exchange (CSE). There have even been calls to stop all such investments. It is important, however, to remember that there are positive arguments in favour of such investments
- Stock Defence (Category: Business)
- EPF reiterates it has followed Investment Policy Guidelines (Category: Business)
- EPF rejects UNP MP’s allegations of fraud (Category: Business)
- Should the EPF gamble with public money by investing on junk Stocks (Category: Breaking News)
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. Wickremesinghe also alleged that FT was one ...
- 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)
Opposition Leader Ranil Wickremasinghe has called for the suspension of all EPF investments in the Colombo Stock Exchange until a Parliamentary Select Committee is set up and investigation is completed on alleged fraudulent transactions. The latest stand is after Wickremasinghe made a scathing
- Tech Ventures (Category: Business)
- Govt investments on development exceed 315 billion in 2009 (Category: Breaking News)
- Neighbourly Investment (Category: Business)
- 3 Things I'm Doing to Prepare for a Stock Market Crash (Category: USA, South Dakota)
By R.M.B. Senanayyake Dr. Harsha de Silva has good grounds perhaps for his criticisms of the EPF investments in the stock market, but his criticisms are having a destabilising effect on the stock market, which was stabilising after a long decline. There are some facts about investment in the stock
- EPF rejects UNP MP’s allegations of fraud (Category: Business)
- No investigations yet on EPF transactions (Category: Business)
- CB says EPF investments are long-term and of value (Category: Business)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
Sri Lanka’s Main Opposition, United National Party (UNP) yesterday claimed that the state-controlled pension fund Employees’ Provident Fund’s (EPF) share portfolio at the Colombo Stock Exchange (CSE) has made losses to the tune of a staggering Rs.12.2 billion.
- David Shapiro: Finding laughs between groans as election goes overtime (Category: USA, Hawaii)
- Vaccines offer the key to speed of Hawaii’s economic recovery (Category: USA, Hawaii)
- Vaccines offer the key to speed of Hawaii’s economic recovery (Category: USA, Hawaii)
- Vaccines offer the key to speed of Hawaii’s economic recovery (Category: USA, Hawaii)
UNP MP Dr. Harsha De Silva in a statement said yesterday that notwithstanding the almost daily statements by the Employees Provident Fund (EPF) defending its investments in the Colombo Stock Exchange (CSE), violating its own published Investment Guidelines it has now been revealed that the EPF
- UNP warns of recession (Category: Breaking News)
- Controversial Investments Out Of EPF And ETF (Category: Breaking News)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
- Safeguards For EPF Investments Needed (Category: Business)
The Employees’ Provident Fund (EPF) yesterday welcomed the clarification made by Standard and Poor’s (S&P) that there was “no information of any specific incidences occurring” of “a potential conflict of interest” due to the Central Bank’s oversight
- UNP vows to prove the truth (Category: Business)
- EPF and ETF tangled up! (Category: Business)
- EPF is well managed, not corrupt: CB Chief (Category: Business)
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard
- Harsha claims Govt., CB lack credibility (Category: Business)
- UNP draws guns on “military control” of Rupee (Category: Business)
- S&P’s soother! (Category: Business)
Positive macro news and rumoured overhauling of SEC among other State entities trigger buying spree; some analysts insist rebound is due to attractive pricingThe Colombo Bourse on Friday shot up by over 100 points before losing some momentum, with the earlier development being linked by some analysts to positive macro news and a rumoured overhauling ...
- Politicos , Brokers ; Bourse’s Tailwind (Category: Breaking News)
- Festive cheer prevails in Colombo Bourse (Category: Business)
- Return of retailers revs up Bourse (Category: Business)
- Stock market struggles on 2012 debut (Category: Business)
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
- Subsidized student loan scheme through commercial banks in addition to existing interest-free st... (Category: Breaking News)
- Banks lift overseas spending limits imposed on credit cards as dollar liquidity improves (Category: Breaking News)
- Ten problems; one solution (Category: Business)
- Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age (Category: Breaking News)
UNP MP Ravi Karunanayake has written to Committee On Public Enterprises (COPE) Chairman D.E.W. Gunasekara requesting him to summon officials of the Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE) over the fiasco in capital markets and boost investor confidence. Following is Karunanayake’s full letter to the COPE Chairman: Over the last ...
- SEC Chief insists on independence at COPE (Category: Business)
- Fresh motion to summon Ex-SEC Chiefs before COPE (Category: Business)
- Chandra J writes to COPE Chief over SEC (Category: Business)
- Peoples Bank Nonperforming loans Rs. 54 billion in 2021 (Category: Breaking News)
The Securities Exchange Commission has introduced some new rules to curb a repeat of the type of wrongful practice that seems to have prevailed in the NSB purchase of shares in the Finance Company. It must be stated at the outset that rules for public institutions should be rigorous because they are owned by the ...
- Enforcement and not new rules is what is required to clean stock market (Category: Business)
- High net worth traders who are insiders create market volatility (Category: Breaking News)
- Backlash at Bourse: Rs. 40 b in value lost after SEC new rules (Category: Business)
- Insider trading: Is it rampant, cause for market’s ill or mere paranoia? (Category: Business)
By Cheranka Mendis UNP MP Dr. Harsha De Silva yesterday disgareed with Treasury Secretary Dr. P.B. Jayasundera’s assurance that new rules will be enforced to improve governance and prudence in stock market investments, urging the Government to first ensure existing laws are enforced. On Thursday, Dr. Jayasundera in response to questions from media said audit ...
- No investigations yet on EPF transactions (Category: Business)
- Don’t judge EPF investments in Bourse too harshly (Category: Business)
- CB wants half a year to give EPF info over MP’s query (Category: Business)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
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