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It is widely speculated that Sri Lanka Tourism Development Authority (SLTDA) Chief Dr. Nalaka Godahewa will be appointed as the Securities and Exchange Commission’s (SEC) new Chairman, following the contentious resignation of Tilak Karunaratne.
Dr. Nalaka Godahewa has resigned as the Chairman of Divasa Finance Ltd. last week. Analysts widely believe the move as a precursor to the impending appointment of Dr. Godahewa as the new Chairman of the Securities and Exchange Commission (SEC), which the Daily FT exclusively reported on Saturday. Godahewa however remains as Chairman of Colombo ...
- Sri Lanka SEC gets new chairman (Category: Breaking News)
- Nalaka’s first Commissioners’ meeting today (Category: Business)
- Chairman of Sri Lanka Tourism Promotion Authority resigns (Category: Breaking News)
- Nalaka Godahewa resigns as SLTDA chairman (Category: Breaking News)
Foreigners most bullish with net buying up 20% or Rs. 5 b; Market’s value up by Rs. 48 b between 20 July and 24 Aug. Despite original reservations by some that President Mahinda Rajapaksa shouldn’t have met with capital market stakeholders, the Colombo stock market has proved otherwise, with the most bullish being foreign investors. ...
- Bourse set for fresh burst; ASI likely to erase YTD negative return this week (Category: Business)
- Bourse boom awaits boosted brokers after Presidential forum (Category: Business)
- Invest In Stocks With Good Valuations (Category: Breaking News)
- Malik moves out, market makes merry! (Category: Business)
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. ...
- Harsha renews call for swift action against NSB-TFC deal makers (Category: Business)
- Readying for a fight? (Category: Business)
- Central Bank emphatic dollars are coming (Category: Business)
- Imports swell, exports lose steam (Category: Business)
Bringing latest technology to your nearest fuel station, LAUGFS Petroleum Limited, a subsidiary of LAUGFS Holdings Limited, together with Dialog Axiata PLC., recently introduced the country’s first ever Near Field Communication(NFC) fuel card enabling corporates to bring down their transport costs by replacing traditional fuel books used by the...
- Dialog Axiata opens Enterprise Discovery Centre in Colombo (Category: Business)
- ‘Ease of mind’ for parents from Mobitel’s iCard (Category: Business)
- LAUGFS Supermarkets launch loyalty card (Category: Business)
- LAUGFS Eco Sri gets ISO 9001 (Category: Business)
A unique new savings account with exclusive benefits for women has been launched by Commercial Bank of Ceylon in recognition of the fact that women are shouldering an increasing number of responsibilities while heading more and more Sri Lankan households, resulting in the economically active female population in Sri Lanka undergoing rapid growth. Branded ‘Anagi’ ...
- Bartleet Finance launches ‘Bilindu’ (Category: Business)
- People’s Bank launches ‘Vanitha Vasana Month’ (Category: Business)
- Union Bank steps up value for deposit holders (Category: Business)
- People’s Bank ‘Jaya Sri 2012’ draw unveiled with prizes galore (Category: Business)
By Shanuka Tissera Leading bankers were given the opportunity to discuss the method of approvals of OPIC funding and political risk insurance, facilitated by the International Executive Service Corps (IESC) and the American Chamber of Commerce Sri Lanka (AMCHAM) for US equity sponsored projects. The keynote address was delivered by the Governor of the Central ...
- Lion leads frontier markets (Category: Business)
- Commercial Leasing and Finance maintains impressive growth in profits (Category: Business)
- AmCham to promote fixed rate, low cost financing from USA (Category: Business)
- AmCham partners with ISEL to bring in US investment to Sri Lanka (Category: Business)
Seychelles President Seychelles President James Alix Michel concludes a historic state visit to Sri Lanka heralding a new chapter in Seychelles-Sri Lanka relations in pursuit of common endeavours towards strengthening closer friendship and economic cooperation between the two countries in a variety of fields, with enormous benefits for the two countries and their peoples. President ...
- Sri Lanka, Seychelles renew strong ties, sign bilateral agreements (Category: Business)
- Seychelles President in town today (Category: Business)
- New chapter in bilateral relations between Sri Lanka and Seychelles (Category: Breaking News)
- Seychelles President concludes a historic State Visit to Sri Lanka (Category: Breaking News)
The resignation of Tilak Karunaratne as the Chairman of the Securities and Exchange Commission (SEC) has been accepted whilst a successor will be named next week, Finance Ministry Secretary Dr. P.B. Jayasundera said. The confirmation by the Treasury Secretary ends week-long uncertainty whether the SEC Chief’s quit notice would be accepted or not, even though ...
- Harsha decries stench emanating from SEC (Category: Business)
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
- Malik moves out, market makes merry! (Category: Business)
It was their genuine love for Sri Lanka and passion for adventure that got Juan Goicochea and Julian Carnell discussing a one-of-a-kind adventure tour in Sri Lanka years ago. Four years down the line, Lanka Challenge has taken a number of foreign participants of 20 nationalities across the country in a tuk-tuk, showcasing the country’s beauty in all its ...
- CIM Sri Lanka Region celebrates 100 years of marketing excellence (Category: Business)
- Highest international Twenty20 scores (Category: Business)
- People’s Bank celebrates International Migrants Day (Category: Business)
- Sino-Lanka Bilateral Trade (Category: Business)
Stamp Talk by the Philatelist “From the beginning, Sri Lanka’s destiny has been intertwined with India’s. Together they broke away from the ancient super-continent of Gondwanaland 120 million years or so ago, and crammed full of all manner of life, rather like Noah’s Ark, voyaged northwards across the Tethys Sea, eventually joining up with Eurasia ...
- Durban win can’t erase Sri Lanka’s scars (Category: Business)
- Charm of rural hospitality (Category: Business)
- Adams Peak first destination of holy mountains expedition (Category: Breaking News)
- Writer Namita Gokhale to visit Sri Lanka (Category: Business)
‘Share The Joy,’ the 20th All Island Annual Patchwork and Needlework Competition conducted by Daisy Vittachi will be held on the 7, 8 and 9 September 2012 at the Park Street Mews Warehouse from 9.30 a.m. to 5.30 p.m. This is the longest consecutive annual craft competition which allows people from all over to showcase ...
- Jana Aragalaya now ‘Frontline Socialist Party’ (Category: Breaking News)
- For tourism, after BRICs, Lanka-included SLIMMA is the best (Category: Business)
- Results of 2012 SAARC Film Awards (Category: Business)
- ‘The Artist’ Wins Producers Guild’s Best Picture Award (Category: Business)
Good governance activist and former Ceylon Chamber of Commerce Chairman Chandra Jayaratne has called for an Ethics Guide for Public Service. This suggestion has been shared with several professional organisations such as the Organisation of Professional Associations, Sri Lanka Economic Association, the Institute of Chartered Accountants of Sri Lanka, Ceylon Chamber of Commerce, and Bankers ...
- COPE: Exposure and beyond (Category: Business)
- A Budget for all! (Category: Business)
- Sri Lanka’s growth world’s fourth best! (Category: Business)
- SEC succumbs! (Category: Business)
The Transparency International Sri Lanka (TISL) in a statement said yesterday that the resignation of Tilak Karunaratne as Chairman of the Securities and Exchange Commission (SEC) wasn’t a surprise and urged the Government to strengthen its resolve against the ‘stock market mafia.’ Following is the full text of the TISL statement: Mr. Tilak Karunaratne, who ...
- TISL lists requisites for SEC’s forward march (Category: Business)
- Tilak talks his way out of SEC (Category: Business)
- Mangala boos Bourse’s rebound, new Head at SEC (Category: Business)
- Former SEC Chief Tilak insists no overregulation (Category: Business)
The Central Bank said yesterday inflows to the services account of the balance of payments remain buoyant despite challenging conditions. It said earnings from tourism in June 2012 grew by 20.6%, year-on-year, to $ 63 million, while during the first six months of 2012, earnings from tourism have grown at a robust rate of 24.3%, ...
- 1H worker remittances top US$ 2.5 billion mark (Category: Business)
- 3,623 new companies registered in 1H (Category: Business)
- Tougher 2Q but Dockyard ends 1H with better results (Category: Business)
- Union Assurance continues growth momentum in 1H 2012 (Category: Business)
Fitch Ratings Lanka said yesterday it has revised Sampath Bank PLC’s (SB) Outlook to Stable from Positive. Its National Long-Term rating has been affirmed at ‘AA-(lka)’. Fitch has also affirmed SB’s subordinated debentures at ‘A+(lka)’. The Outlook revision reflects the weaker-than-expected build-up of SB’s core capitalisation relative to higher rated peer...
- SB says three member commitee to implement SC Z score ruling (Category: Breaking News)
- SB says no defect in Z score calculation (Category: Breaking News)
- JVP Challenges SB For Open Debate (Category: Breaking News)
- SB and Bandula must resign UNP (Category: Breaking News)
Several chambers of commerce and trade have praised the Government’s stable tax regime, according to the Ministry of Commerce and Industry. It said that during a meeting between Minister Commerce and Industry Rishad Bathiudeen and representatives of Ceylon Chamber of Commerce, the National Chamber of Exporters and the Industrial Association of Sri Lanka yesterday, they ...
- Call to rein-in red tape (Category: Australia, Tasmania )
- Indian business supports Sri Lanka Expo 2012 (Category: Business)
- TCCI backs Rudd's health plan (Category: Australia, Tasmania )
The MAS Holdings, Deutsche Bank and Dialog Summer Internship Program concluded on the 15 August 2012 at the Dialog Future World Academy. Students from the 2012 internship batch made presentations to the Boards of the three companies which included Deshamanya Mahesh Amalean (Chairman – MAS Holdings), Rohan Rodrigo (Country Head – Deutsche Bank) and Dr. ...
- What’s hot this summer? - An internship with MAS Holdings, Deutsche Bank and Dialog (Category: Business)
- Major summer internship program kicks off (Category: Business)
- Scholarships team welcomed by Study Illinois (Category: Business)
- JKCS sets benchmark in value addition to future IT grads (Category: Business)
High Commissioner to the UK Dr. Chris Nonis outlined the strides that Sri Lanka had taken in economic, social rehabilitation, reconstruction and reconciliation since the defeat of terrorism in May 2009 to the Guild of Tourism at a luncheon meeting held at the Cholomondelay Room at the House of Lords. High Commissioner Dr. Chris Nonis ...
- Sri Lanka, one of most compelling destinations for investment in Cwealth – Dr. Nonis (Category: Breaking News)
- 'SL, compelling destination for investment' (Category: Breaking News)
- Visit Lanka for fair analysis on facts, not fiction: HC Dr. Nonis (Category: Breaking News)
- Diaspora undermining the work at hand in Sri Lanka - Nonis (Category: Breaking News)
Arrived at the Pearly Gates four months early. Better to play it safe as monumental traffic jams are prophesied for 21 December. Checking in was unexpectedly swift; my host at the stately abode better known as the Temple Trees was expecting me. An air of tranquillity and affability greeted me instead of a militarised, regimented ...
- Ore. father accused of trying to give away the kids (Category: USA, Washington)
- Jana Aragalaya now ‘Frontline Socialist Party’ (Category: Breaking News)
- Bayliss feels for Marsh as Dilshan quits (Category: Business)
- Heshan comes second in heats but fails to qualify for next round (Category: Business)
Indo-Lanka relations Indo-Lanka relations have been cordial ever since the two countries gained independence. The most notable act of magnanimity on the part of India was to cede the Island of Katchchathivu to Sri Lanka through an agreement between the two countries. Relations have intermittently been strained due to domestic ethnic issue having had a ...
- Fair winds for Sri Lanka maritime hub (Category: Business)
- Enhancing shipping traffic to Sri Lanka (Category: Business)
- Export or stagnate (Category: Business)
Why the Government should listen to the demands of university academics Sri Lanka is experiencing the dividends of peace at the moment. The Sri Lankan economy has expanded by a healthy growth rate of 7.9 per cent during the first quarter of this year, from the same period a year earlier. A Global Survey ...
- “Our motto is quality, not money”: BMS President (Category: Business)
- Chaos in universities: A solution? (Category: Business)
- This Fourth of July! (Category: Business)
- More transparency on Z scores, demands TISL (Category: Business)
Sri Lankan stocks jumped more than 1.6 percent to a two-month high yesterday with foreign investors net buyers for a 23rd straight day as financials led the field.
A fresh burst of buying across the Board yesterday boosted the Colombo Bourse, sending the benchmark All Share Index above the psychological 5,000 points level after a two-month languish. Brokers and analysts linked the revival yesterday to investor sentiments rebounding, a move which is likely to silence pessimists and doomsayers. The market’s value rose by ...
- Bears take a breather at Bourse (Category: Business)
- Bourse in welcome rebound; market cap up by Rs. 25 b (Category: Business)
- Retailers keep bourse active (Category: Business)
- Stock market turnover dips to over 3 year low (Category: Business)
Sri Lanka and Seychelles will establish a direct air link between the two countries immediately, enabling increased trade and tourism between the two island nations and neighbouring countries. At the discussion on Tuesday held between the visiting Seychelles President Alix Michel and Minister of Economic Development Basil Rajapaksa, it was decided to open up a ...
- Seychelles President in town today (Category: Business)
- Sri Lanka shipbuilding hub for Seychelles - Direct air-links being explored (Category: Business)
- Lanka Seychelles to share experiences for economic development (Category: Breaking News)
- Seychelles Foreign Minister visiting the island (Category: Breaking News)
With just one-month to go before the start of the ICC World Twenty20 Sri Lanka 2012, the International Cricket Council (ICC) has announced the schedule of men’s and women’s warm-up matches which will be played in the lead up to the event proper. The fourth edition of the event, the first to take place in ...
- Tickets for ICC WT20 final sold out (Category: Business)
- Final phase of ICC World T20 tickets opens today (Category: Business)
- Second phase of ticket sales for ICC World T20 Cup ends on high note (Category: Business)
- ICC announces schedule of warm-up matches, pre-event activities (Category: Breaking News)
By Ashwin Hemmathagama Our Lobby Correspondent Incompetency in water management has aggravated farmer’s problems during the recent drought where crops failed incurring heavy losses, lamented UNP MP and Economist Dr. Harsha de Silva who sighted the move to impose taxes to discourage exports as “a futile measure in the long-run.” “In 2003 Sri Lanka reached ...
- Vietnam’s 2011 rice exports hit record 7.19 M tonnes (Category: Business)
- Bangladesh extends ban on most rice exports (Category: Business)
- External Earnings Sector Performance (Category: Breaking News)
- ASEAN nations can help prevent global rice price rise (Category: Business)
Recognises Sugathadasa and Karunaratne as people of integrity; says didn’t call for their resignations but faults the regulatory system and officers within Disassociates with investor mafia if such exists; admits receipt of five letters of inquiry from SEC Says his presentation at President’s Forum was on behalf of like-minded investors Reiterates over-regulation and fear psychosis ...
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
- TISL wants Govt. to strengthen resolve against “stock market mafia” (Category: Business)
- IMF joins chorus against SEC Chief’s exit (Category: Business)
Sri Lanka and Seychelles yesterday in Colombo signed Memoranda of Understanding to further strengthen the relationships between the two countries in the areas of health, education and training, employment of Sri Lankan manpower and labour cooperation on legal affairs. The expression of stronger ties and agreements signing were during the current visit of President of ...
- Seychelles President concludes historic State visit to Sri Lanka (Category: Business)
- Seychelles President in town today (Category: Business)
- Economic cooperation with Seychelles to be strengthened (Category: Business)
- Seychelles Foreign Minister visiting the island (Category: Breaking News)
Persistent flow of foreign buying lifted investor sentiments yesterday, resulting in the more active Milanka Index gaining though the All Share Index closed marginally down. Bringing the year-to-date figure to Rs. 28.2 billion, net foreign inflow yesterday was Rs. 108 million out of turnover of Rs. 367 million. The ASPI closed 0.39% down whilst the ...
- Rupee weaker on importer dollar demand (Category: Business)
- Rupee slips on importer dollar demand; stocks flat (Category: Business)
- Bourse improves; Rupee weakens (Category: Business)
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