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The unprecedented sentiments-driven bull run has propelled the Colombo Bourse from Asia’s worst performer to the best within the past month with a 22% return, with some expecting the rally to enjoy a fresh burst this week as well, though this time around on fundamentals. The Colombo stock market recorded one of the highest weekly ...
Former SEC Chief Tilak Karunaratne-linked Multiform Chemicals sells Rs. 10 m worth shares of Central Finance, NTB last week fetching Rs. 2.2m more than the value at which stocks were trading when he quit nearly a month ago The former Chairman of the Securities and Exchange Commission (SEC) Tilak Karunaratne could be still very vocal ...
Broking firms described the first dialogue with new Chairman of the Securities and Exchange Commission Dr. Nalaka Godahewa last Friday as “very positive”. Almost all brokers – members of the Colombo Stock Brokers Association (CSBA) and non-members – attended the meeting, which involved two other SEC Commissioners, Acting and Deputy Director Generals and other Directors. ...
Maersk plans to hike freight rates: CEO Company needs to cover costs on lower volume Maersk looks to maintain market share, not boost it MADISON, NEW JERSEY (Reuters): US and European debt crises are paralysing consumer demand for goods exported from China and putting downward pressure on some shipping rates, said Nils Andersen, chief executive ...
BCS, the Chartered Institute for IT Sri Lanka Section (BCS CIITSL) has called nominations for the ICT Lifetime Achiever Award 2012. This year too, an ICT industry leader in Sri Lanka will receive the prestigious ‘ICTA-BCS ICT Lifetime Achiever Award’ for the contributions made in shaping the ICT industry to what it is today. The ...
First in a new class and first of 10 newbuilds; Ship sets standards in environmental protection and efficiency Hapag-Lloyd recently held a naming ceremony for the Hamburg Express, the first of 10 new vessels in its new 13,200 TEU class. Cornelia Behrendt, wife of Michael Behrendt, Chairman of the Executive Board of Hapag-Lloyd, performed the ...
NEW DELHI (Reuters): India allowed foreign airlines to buy stakes of up to 49 per cent in local carriers in a long-awaited policy move, providing a potential lifeline to the country’s debt-laden airlines by opening up a fresh source of funding. Friday’s decision, coming on the back of a controversial diesel price hike on Thursday, ...
Currently discussing new courses with local and international universities By Cheranka Mendis The training arm of SriLankan Airlines, International Aviation Academy (IAA), is on an aggressive expansion plan, launching its services overseas while concentrating on capacity development and local youth engagement to the industry. IAA, which provides International Airline Training Association (IA...
Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. SCBSL’s rating is at the highest of the national rating scale and reflects the credit profile and financial strength of its parent Standard Chartered Bank PLC (SCB). The rating is tied to SCB’s Issuer ...
Fitch Ratings Lanka has affirmed HSBC Sri Lanka Branch’s (HSBCSL) National Long-Term Rating at ‘AAA(lka)’.The Outlook is Stable. The rating reflects the financial strength of parent The Hong Kong and Shanghai Banking Corporation Limited (HKSB; ‘AA’/Negative), given that HSBCSL is a branch of HKSB and is part of the same legal entity as HKSB. Thus, ...
Despite the bull run during the last few weeks, the market is still trading at attractive valuations amongst the emerging market and is duly recognised by the foreign investors with foreign inflow pouring into the market. With value counters trading in abundance coupled with an expected strong growth in earnings in the following year further ...
The Colombo stock market last week had one of the best bull runs on sentiments but according to Asia Wealth Management value investments still persists in the Bourse. Here are excerpts from Asia Wealth Management’s last week’s report on the stock market. The Colombo bourse soared during the week with the market registering 7.8% WoW ...
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 ...
NEW YORK (Reuters): Comparing the Federal Reserve to a rehab clinic offering addicted investors a synthetic high has been a favorite of Wall Street wags ever since the first round of Fed stimulus nearly four years ago. The punch line is that you always need more and more to get the same high and each ...
US Assistant Secretary of State Robert O. Blake yesterday called on the Government to promote transparency and good governance in order to encourage more American investors. He told reporters at the end of his visit that investment could be encouraged if the Government took measures to improve the investment clime. A speech given by him ...
MP Mangala Samaraweera yesterday in a statement has jeered the recent rebound in the Colombo stock market as well as the appointment of the new Chairman at the Securities and Exchange Commission (SEC), in addition to being highly critical of the so-called mafia of investors. Following is the full text of Samaraweera’s statement: In an ...
Reuters: The stock market jumped 2.6 per cent in healthy volume on Friday to the highest level in eight months, with institutional and foreign investors buying banks and diversified shares. The Colombo Stock Exchange’s main index ended 2.59 per cent, or 149.68 points, up at 5,926.90, its highest close since 13 January. The rise helped ...
The new US Ambassador Michele J. Sison presented her credentials as Ambassador to the Democratic Socialist Republic of Sri Lanka yesterday to President Mahinda Rajapaksa. Ambassador Sison is a career member of the United States Senior Foreign Service, Class of Minister-Counselor. Michele J. Sison, a career member of the U.S. Senior Foreign Service, was ...
The Pakistani leader yesterday called on the Sri Lankan President Mahinda Rajapaksa at the Temple Trees and appreciated the arrangements made by the Sri Lankan Government for organising the 58th Commonwealth Parliamentary Conference. Underscoring the need for enhanced exchange of Parliamentary delegations between the two countries to promote people-to-people contacts, Dr. Shah has said that ...
Sri Lanka and majority of the countries participated in the Commonwealth Parliamentary Association sessions yesterday opposed a proposal made at the yesterday’s session for the appointment of a Human Rights Commissioner for the Commonwealth. Sri Lanka, India, Pakistan and majority of the countries pointed out that since there is a Human Rights Commission under the ...
Sri Lanka’s very first DJ training facility, the DJ Academy turns four this month. Founded by Tareeq Musafer in 2008, along with his book ‘Learn to be a DJ,’ the academy has grown from strength to strength, making it the only established and well-known training institute for upcoming DJs in the country. Commenting on the ...
DISASTER management is the process of addressing an event that has the potential to seriously disrupt the social fabric of a community, but the whopping losses endured by Sri Lanka shows that this is still an area that needs to be developed locally. The United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) has ...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
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, ...
Market manipulation would make the Colombo Stock Exchange (CSE) the number one performing stock market in the world soon, UNP National List MP Dr. Harsha De Silva said yesterday.
UNP MP Karu Jayasuriya yesterday said that the results of the elections for three Provincial Councils last week confirm that a large number of people do not approve the Government and the path it has taken with many burning issues unresolved. Following is the full text of the statement issued by Jayasuriya: The Provincial Council ...
Top professional banker and HNB’s CEO Rajendra Theagarajah has been appointed to the Board of Carson Cumberbatch Plc as a Non Executive/Independent Director with effect from Wednesday. Following the latest appointment, the Board of Directors of Carson’s comprises Tilak De Zoysa (Chairman), H. Selvanathan (Deputy Chairman), Mano Selvanathan, Israel Paulraj, Chaminda Gunawardana, Suresh ...
Sampath Bank is going for a listed debenture issue of Rs. 2.5 billion. It plans to issue 15 million unsecured subordinated redeemable debentures at Rs. 100 each, with an option to issue a further 10 million debentures in the event the initial value is oversubscribed. The Colombo Stock Exchange has approved in principle Sampath Bank’s ...
Gain in Bourse’s collective value tops Rs. 400 b since year-to-date lowest level in early June Market cap short of Rs. 400 b to hit all-time-high figure of Rs. 2.6 trillion achieved on 2011 Valentine’s Day Demand for blue chips spearhead yesterday’s rally, joining retail-favoured second tier stocks ASI’s YTD dip now below 5% from 22% ...
By Shanuka Tissera The hype and tension of the ICC T20 Cricket World Cup is exponentially increasing as we edge days closer to the beginning of the most exciting and fastest brand of cricket today. It is sure to be a high adrenaline sporting event that will bring millions of viewers from around the world ...