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By Cassandra Mascarenhas Offering an insightful view into international trade law and electronic transactions across borders, the second and final day of the regional expert consultation on connecting Asia-Pacific’s digital society for building resilience organised jointly by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) and the ICT Agency of ...
The Colombo stock market ended yesterday on a resilient note marking an over 10% rise in 12 days, though a degree of profit taking saw the liquid Milanka Index close marginally negative by eight points. The 0.84% or 45 points gain in All Share Index brought its 12-day increase to 10.8% apart from reducing the ...
By Devin Jayasundera Former Securities Exchange Commission (SEC) Chief Tilak Karunaratne on Tuesday 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 ...
The much anticipated Islamic Finance News Roadshow will be inaugurated today by the Governor of the Central Bank of Sri Lanka, Ajith Nivaard Cabraal. The Governor will deliver the key note address at this forum which will also see the attendance of many other key officials of the Sri Lankan Islamic banking and finance industry. ...
Central Bank Governor Ajith Nivard Cabraal (right) met Mauritius Vice – Prime Minister and Minister of Finance and Economic Development Xavier-Luc Duval at his office in Port Louis on 31 August. During the discussion, co-operation between Mauritius and Sri Lanka in development activities including Global Business Operations was discussed. Assistant Governor C.J. P Siriwardana and ...
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...
The Lanka Micro Finance Practitioners Association (LMFPA), as the apex body of MFIs, in its bid to address and create awareness about development and current status of the industry including best practices commenced a series of Enabling Dialogues, where CEOs, general managers, directors of companies engaged in micro-financing (including licensed commercial banks and non-ban...
Sincere apologies, Hamlet! This distortion is to highlight the current impasse and to stress the need for thinking beyond short-term situational measures. The impasse is in getting the public university system going and in dealing with demands without forgetting that there is a nation in waiting and the vision for it involves that it should ...
Profit taking by the minute sparks some volatility though retailers reinvesting gains Past six market days volume of shares traded at 478 million almost equals whole of July’s volume of 488 million Stock market gathers more strength on improved sentiments of retailers Number of trades yesterday over half of last week Foreigners return to net ...
Pure Gold, the reputed and award winning multinational jeweller based in Dubai, has arrived in Sri Lanka. “We warmly welcome Pure Gold Group to Sri Lanka. Their entry strongly enhances our gold industry profile. Pure Gold’s initial investment here is $ 50 m,” revealed Rishad Bathiudeen, Minister of Industry and Commerce yesterday, after meeting with ...
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 ...
The financial arm of dominant holdings Vallibel Group, Vallibel Finance, showed marked growth in operations as the first quarter (Q1) of the new FY 2012/2013 draws to a close. Branch network expansion was seen as was growth in several key financial markets. Over the months of July and August, the financier inaugurated branches in the ...
The Islamic Finance News (IFN) Roadshow, which is scheduled to take place this Thursday, will create an ideal forum to deliberate on the tremendous opportunities available for Islamic finance in the country, said Faizal Salieh, Amana Bank’s Managing Director/CEO. Amana Bank is the Lead Strategic Partner for the event, which will bring together the country’s ...
The Central Bank of Sri Lanka has released its latest data folder, Sri Lanka Socio-Economic Data 2012. The current data folder is the 35th volume of the series. This easy- to- carry data folder contains 88 statistical tables and 12 charts covering the latest information on socio economic conditions in Sri Lanka, human resources, national ...
IFS AB – The Global Enterprise Applications Company started its South Asia regional operations headquartered from Colombo in 2002 and since then has expanded its presence from Sri Lanka to Pakistan and Bangladesh. IFS is also looking at Maldives and Nepal in the near future. In a recent interview, Asanga Marasinghe – Country Director for ...
American Express is offering six card members a chance to win a Samsung Galaxy SIII each and two card members a chance to win Rs. 25,000 in cash. To be part of this exciting promotion simply shop with American Express Card for Rs. 2500 at any Keells Super or Super K outlet from 21 July ...
Nothing is more destructive in the workplace than difficult bosses. Every employee has a series of bosses over their working career. Hopefully, most of your bosses are competent, kind, and even, worthy of your trust and respect. Unfortunately, too often, employees have difficult bosses who impact their desire to engage and contribute at work. It ...
SRI LANKA’S rubber industry is wary over the possibility of increased prices as the world’s top producers gather to stabilise global prices this week, raising age old questions over productivity, replanting, value addition, technology infusion and a host of other issues. The Three-Nation Rubber Products International Conference in Bandung, Indonesia, this week will see ...
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 ...
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 ...
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 ...
Globally renowned US giant in manufacturing of payment devices VeriFone Inc. together with their technology partner in Sri Lanka, Epic recently launched future generation payment devices in the local market. The latest EDC POS device, the VeriFone VX 520 was introduced to the local banks by Edgar Chen, Country Manager of VeriFone Singapore. This state-of-the-art, ...
Having completed more than seven decades of existence, Bank of Ceylon (BOC) is firmly entrenched as one of the Sri Lanka’s premier financial services organisations. The Bank has introduced various loan schemes encouraging entrepreneurs. Among them ‘Kantha Ran Diriya’ for women entrepreneurs to commence small and micro enterprises, loan scheme with a interest rate of 8% ...
Former top civil servant Dr. Prathap Ramanujam has been appointed to the Board of Senkadagala Finance Plc as an independent non-executive director with effect from 1 September 2012. Dr. Ramanujam retired after 38 years of distinguished service in the public sector. He was the Permanent Secretary to several key Ministries including Tourism, Livestock Development and ...
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...
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 ...
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 ...
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 ...
To be renamed Sri Lanka Ceramic and Glass Council By Devin Jayasundera Lanka Walltiles Limited Managing Director Mahendra Jayasekera was appointed as the President at the Annual General Meeting of the Sri Lanka Ceramic Council recently. At the event it was decided that the glass manufacturing industry would also be inculcated into the scope of ...
By Reshma Kapadia Emerging Markets Daily: With so much angst over India, some investors are looking for other ways to play the subcontinent and setting their sights on Sri Lanka. The country, a major shipping hub attracting a good deal of investment from China, is rebuilding after a three-decade civil war that left parts of ...