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Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison to record 8.3% growth achieved ...
The Unit Trust Association (UTA) is to present a proposal to the Securities and Exchange Commission (SEC) on increasing awareness of their industry to attract retail investors to the stock exchange. UTA President P. Asokan told Daily FT that the decision was taken at a meeting held with SEC
Over 15 Sri Lankan senior professionals and young talent in attendance; 17 entries from Sri Lanka in record haul of 4,860 from 23 countries this year The largest-ever creative communications festival in Asia Pacific, the three-day Spikes Asia 2012, kicked off on Sunday in Singapore. Over 500 industry professionals from 27 countries including over 15 ...
Close to 4,900 entries across 16 award categories A record number of Spikes Asia entries have been submitted this year, totalling 4,860 from 23 countries. The largest creative communications festival in Asia Pacific, which kicks off on Sunday in Singapore, is also set to welcome industry professionals from 27 countries who over two insightful ...
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 ...
Given first half performance, believes several 2012 Roadmap targets will be missed UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday claimed that most of the Central Bank’s 2012 Roadmap targets were likely to be missed, based on below par performance on the external trade front during the first half. ...
As continuously highlighted by the Daily FT and perhaps dumbfounding critics and locals, foreign craving for stocks in the Colombo Bourse is growing, with net inflow surpassing Rs. 28 billion yesterday with the addition of fresh buying worth Rs. 980 million. Non-nationals accounted for 28% of total
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
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 ...
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 ...
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
Sri Lanka CEO Nick Nicalaou dismisses exit rumours; says local operations robust and post-war future in the country looks very promising World’s local bank celebrates 120 years of excellence in Sri Lanka on 1 July, invests $ 7 m for major upgrade of Head Office in Fort By Nisthar Cassim HSBC, which is ...
of the EPF which is “a large investor in Sri Lankan banking stocks.” The Daily FT yesterday ...
S&P Sri Lanka 20 index goes live joining a base of indices globally with an exposure of over $ 1.45 trillion CSE Chief says credible, transparent index will have a positive impact The battered Colombo stock market yesterday got a fresh boost with world renowned S&P launching a dedicated index in partnership with the CSE. ...
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 and Poor’s.“Standard and Poor’s reiterated what we have been saying ...
This letter is in response to the ‘Letter to the Editor’ by Luxman Siriwardena, which was published in the Daily FT on 8 June titled ‘Dr. PBJ: Protectionism or protecting the unprotected?’I refer to the response by Mr. Luxman Siriwardene of the Pathfinder Foundation to my article
The NSB/TFC deal and the General Recent events in Sri Lanka have reconfirmed that though seemingly power may be unlimited, there are in reality constraints which limit the options those in power have. As proof of this fundamental reality, the first event is the purchase by the National Savings Bank (NSB), a State-owned entity, whose ...
Bank of Ceylon’s supremacy in Sri Lanka is well known but recently the bankers to the nation proved its true mettle with landmark success for its ground breaking $ 500 million five year bond issue. The issue is a trailblazer for several reasons. It was the first global bond issue by a Sri Lankan corporate. ...
Chairman writes for removal of Commissioner P. Jayawardena who failed to attend three consecutive meetings; Strained ties the cause, say insidersSome cracks have appeared within the Securities and Exchange Commission (SEC), just less than six months under new Chairman Tilak Karunaratne. The Chairman has written to the Finance Ministry that senior Commissioner P. Jayawardena must ...
By The Lion Without Spot The Pure Ceylon Tea debate rages on. Though the dialogue so far has largely been confined to the print media on the way forward for Sri Lanka’s tea industry and it will no doubt open out the opportunity for discussion in other forums as well, in the days to come. ...
SEC, CSE and CSBA hold positive joint meetingThe stock market is likely to step up the migration to Delivery Versus Payment (DVP) system in a more robust risk management regime following the fiasco triggered by the default of National Savings Bank (NSB). Daily FT learns the DVP
Exporters deny lobbying to import cheap tea Insist more liberal regime for select import of orthodox varieties key to boost blending for exports and establish Colombo as a tea hub Stress Pure Ceylon Tea will remain supreme and unaffected By Uditha Jayasinghe Stirring a fresh storm in the industry, the Tea Exporters Association (TEA) yesterday ...
With open economic policies, the health sector in Sri Lanka has shown a significant development during the last few years. With the increasing population, which has now reached 20.8 million, there was a dire need for the country to improve her healthcare facilities and this requirement is now being fulfilled by both public and private ...
Calls for dismissal of wrongdoers Outlines the numerous offenders Insists brokers are now market “breakers” Casts blame on CSE and says worst hit is the Bourse Prominent banking personality Rienzie T. Wijetilleke, who is best known as the former Head of the Hatton National Bank and for his 10-year stint as a Director of the ...
One week on, NSB has remained silent concerning the purchase of a 13% stake in The Finance Company Plc (TFC) at a hefty premium, prompting analysts to claim the savings giant was either ignoring or confirming controversies and allegations levelled by the UNP and the market. This assertion is despite TFC on Wednesday issuing a ...
Peradeniya Uni's Dr. Perera says exchange volatility is temporary and acceptable IMF's Mathai says no crisis but stability measures taken By Cheranka Mendis UNP MP Dr. Harsha de Silva yesterday made a compelling case that the ‘feel good’ party that the President Mahinda Rajapaksa Government tried to propagate among the people post-war was over, warning ...
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
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 ...
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
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 ...