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By Cassandra Mascarenhas Sri Lanka’s biggest ICT events of 2012, the ASOCIO international conference and the country’s national IT expo INFOTEL, will be held consecutively portraying the country’s persistent ICT development and the significance of the rapidly expanding industry. Hosted by the Federation of Information Technology Industry (FITIS), the Asian-Oceanian Computi...
- Nominations called for ICT Lifetime Achiever 2012 (Category: Business)
- Sri Lanka re-elected as Chair of UNESCAP ICT Committee third time (Category: Business)
- Microsoft Sri Lanka Partners ICTA for FutureGov SAARC Summit 2012 (Category: Business)
By Devin Jayasundera Former Securities Exchange Commission (SEC) Chief Tilak Karunaratne yesterday rebuked allegations of over regulation and ad hoc measures as having impacted the stock market during his tenure and noted that the SEC Act should be strengthened further to punish manipulators. “What some of the crony brokers and dishonest investors try to project ...
- TISL wants Govt. to strengthen resolve against “stock market mafia” (Category: Business)
- Market must earn confidence to be more attractive for investors: SEC (Category: Business)
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- IMF joins chorus against SEC Chief’s exit (Category: Business)
The SAFA-CMA Management Accounting Summit 2012 held in June this year revolved around the theme ‘Corporate Social Responsibility and Sustainability Practices,’ of which the highlight was the final session of the two-day summit, the CEO and CFO Forum. The panel featured Dialog PLC Group CEO and Managing Director Dr. Hans Wijayasuriya, John Keells Holdings Finance ...
- SAFA-CMA Management Accounting Summit 2012 (Category: Business)
- Aitken Spence Hotels observe Earth Hour 2012 (Category: Business)
- Leading corporates commit to embedding ‘Global Compact and Sustainability’ (Category: Business)
The Colombo Bourse yesterday gathered further strength with high volume of trades on the back of active retail play as well as select buying by institutional investors all of which propelled market capitalization back to Rs. 2 trillion, a level last seen 4 months ago. Shunning reservations by some, signs of revival in the stock ...
- Strong start for Super September! (Category: Business)
- Bourse starts November negative (Category: Business)
- Bourse remains resilient, notches over 10% rise in 12 days (Category: Business)
- Return of retailers revs up Bourse (Category: Business)
The Central Bank of Sri Lanka is hosting the 22nd Asian Credit Supplementation Institution Confederation – Annual Training Program (22nd ACSIC – ATP) on 03rd and 04th of September 2012 at the John Exter International Conference Hall, Central Bank of Sri Lanka, Colombo. Central Bank of Sri Lanka has been a member of ACSIC from ...
- On 22nd Amendment To The Constitution (Category: Breaking News)
- Sri Lanka Ranks 22nd in Global KPMG – ODI Change Readiness Index (Category: Business)
- 22nd Amendment to the Constitution gazetted (Category: Breaking News)
- Bipartisanship Beyond 22nd Amendment Is Needed (Category: Breaking News)
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)
MANILA, PHILIPPINES: ASEAN nations can help avoid world rice price shocks by reducing export restrictions, placing less emphasis on self-sufficiency, retooling Thailand’s rice pledging program, and expanding coordinated rice policies with India and Pakistan, according to a series of working papers from the Asian Development Bank (ADB). “So far, the rice market appears to be ...
- Troubled EU eyes ASEAN boost (Category: Business)
- Sri Lanka to bag yet another ASEAN MoU (Category: Business)
- Sri Lanka looks to work closer with ASEAN (Category: Breaking News)
- Sri Lanka to sign another ASEAN MOU (Category: Business)
BEIJING (Reuters): China, the world’s top consumer and producer of rice, on Monday increased its purchase price of the grain, under a government stockpiling plan aimed to encourage planting and boost farmers’ returns. The higher floor price could push up food inflation in the world’s second largest economy, which is already battling soaring global prices ...
- Asia Rice: Weak demand pushes prices down further (Category: Business)
- No inflation respite for Asia despite fall in food, fuel prices (Category: Business)
- Bangladesh lifts aromatic rice export ban (Category: Business)
- Vietnam’s 2011 rice exports hit record 7.19 M tonnes (Category: Business)
NAIROBI (Reuters): Kenya’s horticulture export earnings are expected to grow by 10%this year thanks to above-normal rainfall, but the eurozone’s financial woes were expected to dampen demand for flowers, a senior industry official said on Monday. Horticulture is one of the east African country’s leading sources of foreign exchange alongside tea exports and tourism. The ...
- Japan corporate mood up despite yen worry (Category: Business)
- HE the President visits "Diyatha Uyana" at Battaramulla (Category: Breaking News)
- HE the President visits "Diyatha Uyana" at Battaramulla (Category: Breaking News)
- Serendib Horticulture Technologies to cater field expertise in foreign markets (Category: Business)
MANILA, PHILIPPINES: A regional rice index and commodities exchange could help calm world rice price fluctuations and ensure farmers get a fair price for their rice, according to a working paper by the Asian Development Bank (ADB). “Very little stands in the way of bringing more price transparency and stability to both rice producers and ...
- ASEAN nations can help prevent global rice price rise (Category: Business)
- Thai rice plan could hit global market (Category: Business)
- Raids to nab errant traders (Category: Breaking News)
- No inflation respite for Asia despite fall in food, fuel prices (Category: Business)
A recent briefing for the press on a recent cabinet meeting and the decisions taken referred to the introduction of legislation to regulate microfinance institutions to ensure financial stability in that sector. This is the third attempt to have draft legislation prepared. The first attempt was totally rejected by stakeholders in the microfinance sector. At ...
- Finance: Restrictions on use of the word (Category: Business)
- Unregulated microfinance - A high-risk strategy (Category: Business)
- Micro finance: As India moves forward, Sri Lanka stagnates (Category: Business)
- The ability to save (Category: Business)
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
- Village as a developmental unit (Category: Business)
- China on track to meet 2012 growth target: Wen (Category: Business)
- WB cuts China growth forecast to 8.2% (Category: Business)
- China’s tight job market defies economic downturn (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)
Placed amidst of wave of opportunity, today Sri Lanka is poised for exponential growth and sustainable economic development. In this context of emerging national prosperity, exports irrefutably play a pivotal role in driving the much anticipated economic progress. Exports are the main foreign exchange earners for the country and present many prospects for growth and ...
- Union Bank principal sponsor for 20th Annual NCE Awards (Category: Business)
- Mobitel sponsors Annual NCE Export Awards for 7th consecutive year (Category: Business)
- Union Bank Principal Sponsor for 19th Annual NCE Awards (Category: Business)
Reuters: Citigroup Inc agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis. The agreement resolves claims that shareholders ended up with massive losses after the bank failed to take timely ...
- Citi to pay CPC $ 2.5m as legal fees (Category: Business)
- Citigroup to cut jobs, total could top 3,000 (Category: Business)
- NYC mayor’s race fundraising stats show Ray McGuire awash in cash (Category: USA, New York)
- NYC mayor’s race fundraising stats show Ray McGuire awash in cash (Category: USA, New York)
Reuters: China’s economy is stabilising slowly as pro-growth government policies gain traction while real estate curbs have suppressed speculation, the head of the country’s top planning agency, the National Development and Reform Commission, said on Wednesday. Zhang told a meeting of the National People’s Congress (NPC), China’s top legislature, that China’s two-pron...
- Sri Lanka to establish a new Consulate General in Guangzhou, China (Category: Business)
- US study tracks huge state role in China economy (Category: Business)
- China lifts state purchase prices of rice to help farmers (Category: Business)
- China calls for creating good environment for Sri Lanka’s stability, construction (Category: Business)
Retailers-driven ‘small caps’ dominated the Colombo Bourse yesterday, whilst most blue chips and conservative investors were less active as the capital market prepared to adjust under a new regime at the SEC. Perhaps finding it difficult to comprehend whether the new appointments to the Securities and Exchange Commission (SEC) were good or bad, stock market ...
- Return of retailers revs up Bourse (Category: Business)
- CSE turns a real market! (Category: Business)
- ‘Boom’ is back? (Category: Business)
- Bourse in welcome rebound; market cap up by Rs. 25 b (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)
OSAKA (Reuters) : Daikin Industries Ltd will buy Goodman Global Inc for $3.8 billion, gaining greater access to the North American market and making the Japanese company the world’s largest maker of heating, ventilation and air-conditioning (HVAC) systems. Daikin has long been interested in its Houston, Texas-based rival, but put off takeover talks following Japan’s ...
- Japan investors’ net fund selling biggest in three years (Category: Business)
- Sony sees record $6.4 b loss on tax hit (Category: Business)
- Sony warns of fourth annual loss; flags $ 2.2 b TV loss (Category: Business)
- Bank of Japan easing lifts shares (Category: Business)
Fitch Ratings Lanka has assigned Singer (Sri Lanka) PLC’s (Singer) proposed three-year senior unsecured redeemable debentures of up to Rs. 1 billion a National Long-Term rating of ‘A(lka)’. The Outlook is Stable. The rating reflects Singer’s market position as one of Sri Lanka’s largest consumer durables retailers, as well as its established franchise and extensive .....
- Debt Demand (Category: Business)
- Fitch Rates Singer’s Proposed CP ‘F1(lka)’ & Sr Notes ‘A(lka)’ (Category: Breaking News)
- Durable Rate (Category: Business)
- Fitch affirms Singer (Sri Lanka) PLC at ‘A’; Stable (Category: Business)
The annual flagship event of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), the Annual Report Awards 2012 will be powered by leading credit rating agency, RAM Ratings Lanka (LTD). Held for the 48th consecutive year, the awards competition is a benchmark event which promotes transparency, corporate governance and accountability among organisations ...
- CA Sri Lanka gears up for Annual Report Awards 2012 (Category: Business)
- Recognition for Abans Finance Plc Annual Report at CA Sri Lanka awards (Category: Business)
- CA Sri Lanka launches Hall of Fame (Category: Business)
- 26th National CA Students’ Conference on 4 April (Category: Business)
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
- Promoting productive social protection (Category: Business)
- MBSL seminar on ‘Implications of the new Finance Business Act’ on 19 September (Category: Business)
- The loud voice of economists: Reform or perish (Category: Business)
- Taming the ‘monsters’ (Category: Business)
PUC Commission to make Final Decision on Tariffs on the 14th Of September By Devin Jayasundera The Public Utilities Commission (PUC) had its annual Public Consultation regarding the Non-Conventional Renewable Energy Tariffs for 2012/2013 amidst the presence of its major stakeholders yesterday. According to PUC Director General Damitha Kumarasinghe this progressive step was taken ...
- Sri Lanka's Power and Energy Ministry tries to keep electricity tariffs unchanged (Category: Breaking News)
- CEMS Global to hold eighth ‘Power Sri Lanka’ international exhibition (Category: Business)
- PUC To Increase Electricity Tariffs (Category: Breaking News)
- Sri Lanka gets 6000MW of renewable energy proposals as competitive bidding ends (Category: Breaking News)
The European Union yesterday announced it would provide Sri Lanka a grant amounting to approximately Rs. 9 billion (EUR 60) million under the European Union support to the District Development program spanning over 2012-2017. The latest support was disclosed by Head of the Delegation of the EU in Sri Lanka Bernard Savage when he met ...
- European Union and United Nations cooperate to rebuild lives in Sri Lanka (Category: Breaking News)
- China pledges more assistance for Sri Lanka development (Category: Breaking News)
- Continued aid from UN and EU (Category: Breaking News)
- EU to further assist in development efforts (Category: Breaking News)
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)
Achievements so far The authorities have achieved significant success in reducing the budget deficit from 9.8% of GDP in 2009 to 6.8% in 2011. The bold measures introduced in February/March 2012 to increase fuel and electricity prices, passing on higher global costs, have gone a long way towards reducing the off-balance sheet losses of 2% ...
- Does Wage Growth Retard Economic Growth? (Category: Breaking News)
- Pathfinder Foundation welcomes recent fiscal and monetary measures (Category: Business)
- Financial Roadmap for 2012 unveiled (Category: Breaking News)
Perhaps in anticipation of better times ahead, retailers with improved sentiments returned to the CSE in large numbers yesterday, as the Bourse saw its value rise by Rs. 23 billion with over 10,000 trades done as opposed to July-month’s daily average of 4,000 plus. Most brokers and analysts said retailers made a strong comeback yesterday ...
- ‘Boom’ is back? (Category: Business)
- Milanka Index turns positive after 17 months (Category: Business)
- Stock market rebound gathers momentum (Category: Business)
- Politicos , Brokers ; Bourse’s Tailwind (Category: Breaking News)
Sri Lanka’s Divineguma backyard economic unit program has received a boost from an unexpected direction. Seychelles, which has the highest Human Development Index in Africa, wants to implement Divineguma model at its earliest, to kick-start its agricultural revival. “I want you to send a consultative Divineguma delegation team to Seychelles. I want to introduce the ...
- Seychelles biz delegation in town (Category: Business)
- Economic cooperation with Seychelles to be strengthened (Category: Business)
- Trincomalee to get fresh development boost (Category: Business)
- Sri Lanka shipbuilding hub for Seychelles - Direct air-links being explored (Category: Business)
PTI:NEW DELHI: The Reserve Bank has widened its probe into the affairs of British banking giants HSBC and Standard Chartered to a host of other foreign banks for alleged breach of controls against money laundering and terror financing. Besides, capital market regulator Sebi may also join the investigations, as there are concerns of funds from ...
- Global Finance names HSBC Best Consumer Internet Bank (Category: Business)
- HSBC profits hit $ 21.9 b, up 15% over 2010 (Category: Business)
- HSBC says it may face criminal charges for transactions (Category: Business)
- Bupa reportedly bidding for HSBC’s Asia medical insurance business (Category: Business)
Reuters: Gold rose to the loftiest level since mid-April on Monday, extending strong gains from last week as expectations for further monetary easing from the US Federal Reserve kept sentiment buoyant. The Fed had room to deliver additional monetary stimulus to stoke economic growth, said the central bank’s chief Ben Bernanke, boosting anticipation for easier ...
- Live: Titans v Bulldogs (Category: Australia, Queensland)
- Life-long hangover (Category: Australia, Queensland)
- Schoolies make their mark (Category: Australia, Queensland)
- Gold to drop in Q1, far from retesting record high: Reuters poll (Category: Business)
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