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Dinesh tipped to be appointed Chairman; Dheerasinghe as Deputy; business leader Preethi new face on the Board Commercial Bank is slated to have a special Board meeting today, the second in three days, to elect a new Chairman. The move follows the resignation of longstanding Chairman and Board member Mahendra Amarasuriya, as exclusively reported by ...
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
- Eraj steps down, Dharma new Chairman at Bartleet Finance (Category: Business)
- Mahendra resigns as COMBank Chairman; Captains’ buy in (Category: Business)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
Senior business leader and longstanding Board member Mahendra Amarasuriya yesterday resigned as Chairman of Commercial Bank Plc a move which is likely to evoke mixed reactions in banking and corporate circles. Amarasuriya, a highly respected corporate figure, announced his resignation during a Board meeting of Commercial Bank yesterday, throwing open the mantle of leadership at ...
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
- COMBank to hold special Board meeting today (Category: Business)
- Dinesh youngest to be appointed as Commercial Bank Chairman (Category: Business)
- Dinesh Weerakkody, new Chairman of the Commercial Bank (Category: Breaking News)
The Pathfinder Foundation issued the following response to the IFC opinion piece on its Economic Alert No. 20 titled ‘Improving Sri Lanka’s Business Climate,’ published in the Daily FT: The Pathfinder Foun-dation (PF) is grateful to the International Finance Corporation (IFC) – World Bank (WB) office in Colombo for the substantive comments that it published ...
- Easy Biz (Category: Business)
- Business Skills (Category: Business)
- IFC, NTB help small businesses become more competitive (Category: Business)
With reference to Pathfinder Foundation article titled ‘Improving Sri Lanka’s Business Climate’ published on 21 December, the International Finance Corporation (IFC)Country Manager – Sri Lanka and Maldives Adam Sack has sent the following response: I write with reference to the article above in yesterday’s Daily FT by the Pathfinder Foundation – in which there a...
- Pathfinder responds to IFC (Category: Business)
- Easy Biz (Category: Business)
- Improving Sri Lanka’s business climate (Category: Business)
Most recent Deputy Governor of the Central Bank K.G.D.D. Dheerasinghe has been appointed to the Board of Commercial Bank Plc as a Non Executive Director. The appointment with effect from 20 December was announced by the Commercial Bank yesterday whilst the Daily FT first broke the impending move a week ago. Dheerasinghe retired from the ...
- Excess Liquidity (Category: Business)
- Commercial Trend (Category: Business)
- Sri Lanka lowers lending rates by 50 basis points (Category: Breaking News)
- Sri Lanka's Central Bank issues direction on foreign exchange trading activities (Category: Breaking News)
The Pathfinder Foundation with the assistance of Volunteers for Economic Growth Alliance (VEGA) and USAID, recently commissioned a study to identify the policy and regulatory reforms that are required to make Sri Lanka a leading country in investor friendliness. Improving the business climate is not an end in itself. A better business environment is a ...
- How attractive or unattractive is our business climate to foreign investors? (Category: Business)
- Pathfinder responds to IFC (Category: Business)
- Economic Summit tackles key issues to boost biz, investments (Category: Business)
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
From early in-house management training to training in world class management schools that professionals, business leaders, academics and civil society leaders have undergone, they have learnt of the key management principle of engaging in quiet reflection, reality checks, risk mitigation assessments and the need to plan lessons learnt response action. These practices are considered essential ...
- Economic management and the way forward (Category: Business)
- Chandra J. writes to SEC Chairman on NSB-TFC ransaction (Category: Business)
- Budget 2012: Issues for civil society intellectual debate (Category: Business)
By Ian The President in his speech at the opening of the Southern Expressway said that this could be the beginning of building a modern society. He also mentioned that had there been such an expressway linking the north with the south the extremists would not have succeeded in capitalising on the mistrust among communities. ...
- "I dont like to use the term 'student supppression' simply because there is no such thing" (Category: Breaking News)
- JVP accuses Govt. of crippling University system (Category: Business)
- Sri Lanka to open new universtities to improve higher education (Category: Breaking News)
- Gota urges educated youth to take country forward (Category: Business)
By Devin Jayasundera HDFC, Sri Lanka’s only bank which specialises in Housing finance industry launched its newest product HDFC Housing Fund that provides affordable and accessible financial services for housing purposes at a media briefing yesterday. HDFC Bank officials believe that these kinds of innovative schemes will strengthen the housing sector in Sri Lanka. The ...
- HDFC launches eBanking (Category: Business)
- Mortgage Profits (Category: Business)
- Fitch Affirms HDFC Bank at ‘BBB+(lka)’ with a “Stable” outlook (Category: Breaking News)
- Containing Risk (Category: Business)
Says that taxation simplified, gives concessions for investment and urges more private sector involvementBy Uditha Jayasinghe The benefits of the tax system have been continued to provide a firm foundation for economic growth, a top official said yesterday. Addressing a packed post-Budget seminar organised by the Inland Revenue Department (IRD), Finance Ministry Secretary Dr. P.B. ...
- Bouquets from Budget! (Category: Business)
- Will Mahinda’s 7th Budget be lucky for Lanka? (Category: Business)
- Efficient tax administration critical to generating expected revenue (Category: Breaking News)
- Opening tax files for everyone over 18: IRD officials point out difficulties, costs (Category: Breaking News)
Following the successful signing last month of two MOU’s between the EFC and the regional chambers of Hambantota and Jaffna, a panel of senior members from the EFC travelled to Hambantota last week as guests of the District’s Chamber of Commerce to meet with the local business community. Speaking about the day long event, Director ...
- Employers Federation expands reach to Jaffna, Hambantota (Category: Business)
- EFC to visit Hambatota District Chamber today (Category: Business)
- EFC raises concerns with Labour Minister on minimum wage revision process (Category: Business)
ASPI in steepest fall since February; fears over Takeover nBill force dumping of blue chips; EPF the lone ranger Investor confidence is worsening by the day judging by the continued tumble in value of the Colombo bourse, as it suffered one of the sharpest declines yesterday. The market
- Stock market up ahead of Budget; rupee weaker (Category: Business)
- Market lets down Mahinda! (Category: Business)
- Melstacorp enters COMBank; CF Ruffer picks up more shares (Category: Business)
- Bourse back to double digit dip (Category: Business)
The UNP yesterday criticised the Board of Investment (BOI) for misleading investors by changing its web site's previous assurance that foreign investments will not be nationalised. An apparent development following the passing of Takeover Bill in parliament on Wednesday, in the BOI web site's section listing Supportive Government Policies, the new version only states "Safety ...
- Basil’s justification not valid claims UNP MP Dr. de Silva (Category: Business)
- Govt. institutions slow in website updating (Category: Business)
- Defunct garment factories available for investment (Category: Business)
- Challenges for FDI (Category: Business)
Sri Lanka EPF defends stock investments
Govt. outlines plan to move into top 30 Doing Business Ranking by 2014 By Cheranka Mendis The Government yesterday outlined the roadmap to up Sri Lanka’s ranking to number 30 in the Doing Business Ranking by 2014 from the current position of 89. The plan highlights the need to reform operations in key institutions with ...
- Fast Track (Category: Business)
- Flat (Category: Business)
- Easy Biz (Category: Business)
Marque fund manager and investor Asanga Seneviratne structures deal; Galadari Brothers part sell stake as part of settlement of cases in UAEThe buying of a 16% stake in Galadari Hotel (Lanka) Plc by the Dubai Government for Rs. 1.18 billion yesterday is expected to throw open the city five star as an attractive investment in ...
- Debt To Be Converted To Equity (Category: Breaking News)
- The going is good, says Galadari GM (Category: Business)
- Galadari Hotels directors sets price for debt conversion (Category: Breaking News)
- Kandy Hotels in JV to build 100 room new hotel for Rs. 1.2 b (Category: Business)
Dr. Lalith P. Chandradasa, a doctor of medicine and a brother-in-law of President Mahinda Rajapaksa, has been appointed to the Board of Directors of the pioneering development finance institution DFCC Bank. The appointment as an Independent Director had been approved by the DFCC Bank Board following the go ahead by the Director of Bank Supervision, ...
- Marina on to DFCC Vardhana Bank Board (Category: Business)
- Jeyam Perumal appointed to DFCC Board (Category: Business)
- Ray appointed to Asian Alliance Insurance Board (Category: Business)
- Aravinda appointed MD of Sampath Bank from 2012 (Category: Business)
By Cheranka Mendis Central Bank Governor Nivard Cabraal yesterday declared that the country’s biggest fund, the EPF, was well managed and not corrupted, in remarks that signalled an apparent dismissal of allegations levelled by the main opposition UNP. Sri Lanka’s largest fund
- Height of optimism! (Category: Business)
- JVP Leader nails govt. on ETF, EPF balances (Category: Breaking News)
- Domestic debt restructuring: Harsha insists money belonging to EPF members must be safeguarded (Category: Breaking News)
- JVP union accuse authorities of swindling EPF monies (Category: Business)
aUNP MP and the party’s Economic Spokesman Dr. Harsha de Silva yesterday renewed his warning over the fate of EPF’s questionable investments in the stock market. In a statement, he urged that EPF must follow its own investment guidelines and code of professional conduct or else
- Harsha rebuffs CB’s rosy EPF story (Category: Business)
- Laugfs gas has last laugh at EPF? (Category: Business)
- EPF buying Laugfs: No smoke without fire! (Category: Business)
- EPF rejects UNP MP’s allegations of fraud (Category: Business)
Sri Lanka EPF buys more Laugfs stock
Corporate institutions can now make Employees’ Provident Fund (EPF) payments in a convenient manner via ‘Paymaster,’ the innovative electronic total payment solution of the Commercial Bank of Ceylon, the Bank rated internationally as Sri Lanka’s best. The formal agreement
- Commercial Bank presents Paymaster’s new EPF payment facility (Category: Business)
- ComBank records highest growth in ‘Inter-Bank Electronic’ payments (Category: Business)
- COMBank, Prestige Automobile offer dream deals for BMW 5 Series (Category: Business)
Sri Lanka Com Bank offers online EPF payments
Business leader Dhammika Perera sells 51% personal stake in Amaya Leisure to Hayleys Group for Rs. 2.6 b and buys 9% more of the latter for same amount Deputy Chairman’s control in Hayleys tops 40%; Hayleys Group firms pay Rs. 107 per Amaya share after getting independent report valuing share at Rs. 160; to announce ...
- RCL ups Hayleys stake (Category: Business)
- Dhammika ups control in Hayleys to 47% (Category: Business)
By Harsha de Silva We understand that the Securities and Exchange Commission (SEC) is planning to compound undisclosed securities fraud by some billionaire investors. Media reports have begun to circulate that Environmental Resources Investments (ERI) and its Directors have agreed with the SEC to pay an insignificant fine of Rs. 10 million and compound an ...
- SEC sets the record straight on ERI case (Category: Business)
- Harsha breathes fire on SEC over ERI (Category: Business)
- Harsha wants securities fraud fine increased from Rs. 10 m to Rs. 100 m (Category: Business)
- ERI Warrants dip over SEC rule (Category: Business)
Sri Lanka Insurance Corporation (SLIC) has sold 3.4% stake in DFCC Bank to Employees Provident Fund (EPF) for Rs. 1.2 billion. Of the amount 7.9 million shares were sold Tuesday at Rs. 135 each whilst on Monday 1.24 million shares were sold at the same price. Monday’s sale was the entire
- Others secure, Harry misses in scramble for Spence shares (Category: Business)
- SLIC buys 5% stake for a premium in Colonial Motors (Category: Business)
- DFCC buys 10% NTB stake for Rs. 1.3 b (Category: Business)
- Ishara Traders exits Sathosa Motors as Access ups stake to near 80% (Category: Business)
Public service is poised to get a shot in the arm making it greatly people-friendly soon due to a project initiated by the ICT Agency of Sri Lanka (ICTA) recently. As one of the latest phases of the e-Services initiative ‘the Lanka Gate e-Services Project’ of ICTA, aims at better public service by developing ...
- Eurocenter enables e-services for ICTAs Lanka Gate Project (Category: Breaking News)
- “Librarians have important role to play in eSri Lanka initiative”: ICTA Chairman (Category: Business)
- Sri Lanka ready to provide optimum service via mobile phone (Category: Business)
- Special New Year transport information via 1919 (Category: Business)
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