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Annual SME policy dialogue session organised by the SMED, FCCISL The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) hosted a two-day involved trilingual SME Forum. The primary objective of this forum was to provide a platform for a productive dialogue between the SMEs, policymakers and other stakeholders. The forum was held ...
Last week’s volume of shares traded at 737 m, higher than the individual monthly figures since February 2012. In a major comeback, the Colombo stock market last week shot up by 6% and in value terms by Rs. 121 billion, purely driven by improved sentiments and return of retailers on the back of expectations of ...
Union Bank announced the appointment of Sabry Ghouse and Sunil Karunanayake as new Independent Non Executive Directors to the bank’s Board of Directors with effect from 30 August 2012. Appointment of independent directors is an integral part of the bank’s good governance practices, thus ensuring further commitment to the protection of shareholder interest. In this ...
Nations Trust Bank Plc announced the appointment of Renuka Fernando as the new Chief Executive Officer/Director of the Bank with effect from 15 September 2012. Fernando succeeds the earlier CEO/Director Saliya Rajakaruna, who stepped down on the completion of his contract of service. Commenting on the appointment of the new CEO/Director, the Chairman of Nations ...
Forty-two loyal customers of Sampath e-remittance service were in for a bonanza during the Ramadan season participating in the Sampath Cash Wasi promotion. This was the second time that Sampath Bank conducted the Cash Wasi promotion to reward its loyal e-remittance customers. When it was introduced first time during the Sinhala New Year season, 32 ...
The 10th Annual General Meeting of LankaClear (Pvt) Ltd. was held on 30 August 2012 at the Hotel Galadari. Releasing its Annual Report for 2011/12, LankaClear stated that the company’s net revenue grew by 12% whilst the profit after tax grew by 39% compared to the previous financial year. The theme of the Annual Report ...
Established in 1993 with a membership of just 20, the Alumni Organisation of the University of Colombo is proud to state that over 500 members belong to the organisation, including well-established professionals in various fields. The upcoming felicitation of high achieving graduates i.e. ‘Abhinandana’ for their achievements and ‘Guru Upahara’ for other imminent profe...
The UAE’s Higher Colleges of Technology (HCT), the country’s largest higher education institution, has struck a deal with a local Apple supplier, worth nearly AED 50 m ($ 13.4 m), which will see UAE campuses remove paper and pens from classrooms and become the first in the region to roll out iPad-only lessons. The HCT ...
The HSBC Youth Enterprise Awards (YEA) 2012 presented by the British Council was held at the Hilton Colombo amidst distinguished guests including Dr Sunil Nawaratne, Secretary, Higher Education Sri Lanka, Tony Reilly, Country Director British Council and Nick Nicolaou, Chief Executive Officer HSBC Sri Lanka and Maldives. Having been assessed through multiple rounds of workshops ...
SYDNEY (Reuters): Australia’s trade deficit widened more than expected in July, largely due to declining gold and iron ore exports, and the recent plunge in prices for the steel-making ingredient is likely to take a bigger chunk out of earnings from August onwards. Government figures out Friday showed a deficit on goods and services of ...
ELECTIONS come and go but the Government has a new set of challenges this week that will test it seriously. Quick on the heels of the poll comes the UN review mission that is here to decide on the Government’s progress on reconciliation and implementation of the Lessons Learnt and Reconciliation Commission (LLRC). Before this ...
Engaged employees produce exceptional results. We need to have employee care in order o ensure their engagement at work. How can we make it happen? Today’s column deals with Ten Commandments for employee care. Employee care for higher engagement Employee engagement has become a buzz word in management circles, mainly due to its attractiveness as ...
A salutary reader interest on share market regulation A reader of the previous week’s My View titled ‘SEC: Not a mere watchdog, but a bloodhound mandated to bite’ has raised an important issue with this writer. He has asked the question why it is necessary to have a regulator to police the financial markets and ...
The Lanka Micro Finance Practitioners Association (LMFPA), as the apex body of Micro Finance Institutions (MFIs), in itsandnbsp; bid to address andandnbsp; create awareness about development and current status of the industry including best practices commenced a series ofandnbsp;Enabling Dialogues,andnbsp;where CEOs, General Managers, Directors of companies engaged in Micro-Financing (including Li...
Sri Lankaandrsquo;s banking watchdog andndash; Central Bank said that it will accommodate Islamic banking and finance within the existing legal and regulatory framework.
In secondary bond markets, the three-year bond yield moved up to 14% yesterday for the first time in three months, amidst moderate volume, reflecting an increase of five basis points in comparison to its previous day’s closing yields, Wealth Trust Securities said. In addition a small volume of the 18¼ month bond was transacted at ...
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
The Prize Giving of the Inter Madrasa Quiz competition organised by the Colombo Muslim Youth Education Fund will be held, insha Allah, on Saturday 8 September from 2p.m. to 5p.m. at Narayana Memorial Hall (opposite People’s Bank), Layard’s Broadway Colombo 14. Chief Guest will be Moulavi M. N. Ramzan Faris (Madani).
Sri Lanka’s largest telephony services provider Dialog Axiata PLC has donated revenue generated from SMS (Short Messaging Service) based voting on the grand finale of Ranaviru Real Star: Mission 2 to the Api Wenuwen Api Fund, administered by the Ministry of Defence and Urban Development. The Api Wenuwen Api Fund, a cooperation between the Ministry ...
Partners with the Department of Probation and Childcare to fund the education of children in need in Sri Lanka Baby Cheramy, a trusted brand of leading Sri Lankan conglomerate Hemas Holdings PLC, celebrates 50 years of enriching lives of Sri Lankan mothers and children this year. Commemorating the brand’s milestone and promoting the importance ...
Standard Chartered Bank hosted their priority banking customers to a cookery demonstration, followed by breakfast at the Hilton Colombo recently. Hilton Colombo’s Executive Chef Rohan Fernandopulle was on hand to provide some fine tips and secrets to preparing a successful breakfast.
Reuters: Asian shares were on track for their biggest daily gain in six weeks on Friday after the European Central Bank outlined its plan to calm the euro zone’s debt crisis and firm US data fed speculation of a strong jobs report later in the day. European equities will likely extend gains modestly after rallying ...
ESPNCricinfo: Federation of International Cricketers Associations (FICA) has said it will deter players from taking part in the 2013 Sri Lanka Premier League (SLPL) unless tournament organisers honour the bank guarantees clause in player contracts. FICA CEO Tim May said his organisation had made repeated requests for proof of the bank guarantees, but SLC and ...
Sri Lanka has much outside potential as the country is well positioned to attract Islamic finance and even non-Islamic segments of the society are lured to invest with Islamic windows of conventional banks which are developing into a major driver of the banking industry, Amana Bank CEO and Managing Director Faizal Salieh said.
Driven by its vision to be the most admired insurance broker in the industry, Guardian Insurance Brokers is set to offer some of the most comprehensive healthcare solutions for corporate and individuals in Sri Lanka. Guardian Insurance Brokers have been appointed exclusive agents in Sri Lanka for Aetna, a foremost medical insurance company in the ...
REUTERS: Tiger Woods finds himself in foreign territory heading into this week’s BMW Championship in Carmel, Indiana, having failed to qualify for the PGA Tour’s four lucrative playoff events last year. Twelve months ago, Woods had slipped to 46th in the world rankings after being sidelined for 12 weeks earlier in the season while recovering ...
By S.S. Selvanayagam The Supreme Court yesterday (6) ordered the Central Bank to file the Foreign Reserve Management Rules (Guidelines) to Court sequent to the Fundamental Rights violation petition challenging the investment on the controversial Greek bonds, which resulted in a loss of Rs. 2.14 billion of public funds to the State. The Deputy Solicitor ...
The Commercial Bank of Ceylon recently received its award as Sri Lanka’s Best Bank in 2012 from the prestigious FinanceAsia magazine. The award was accepted on behalf of the Bank by Assistant General Manager – Plan Implementation/Compliance Officer Richard Rodrigo at the FinanceAsia Country Awards for Achievement held at the Four Seasons Hotel in Macau ...
Following are excerpts of an interview with Institute of Chartered Accountants of Sri Lanka President Sujeewa Rajapakse and Annual Report Awards Committee 2012 Chairman Tishan Subasinghe: Q: Could you please elaborate the national role of CA Sri Lanka? A: The Institute of Chartered Accountants of Si Lanka is the national body of accountants incorporated by ...
Liquidity in money markets was back to a balance after a lapse of three days as the market reflected a marginal surplus of Rs. 1.2 b yesterday. A dollar inflow into the system which possibly may have been purchased by Central bank and non-sterilised was seen as the reason for the improved liquidity position according ...