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By Chamitha Kuruppu UNP Parliamentarian Sujeewa Senasinghe yesterday filed a Fundamental Rights case against the Central Bank Governor at the Supreme Court challenging the prudence of Greek bond investments. Speaking to the Daily FT MP Senasinghe said, “I am seeking an interim
- Central Bank makes substantial gains in reserve management (Category: Business)
- Sri Lanka central bank defends FX reserve management (Category: Breaking News)
- Senior minister defends Sri Lanka Central Bank's investment in Greek bonds (Category: Breaking News)
- Central Bank defends investment in Greek bonds (Category: Breaking News)
by the Daily FT. The need for a hands-off approach by the Executive ...
- SEC appoints Consultative Committee for capital markets (Category: Business)
- Mahinda minds stock market woes (Category: Business)
- Tremors over Tilak’s talk! (Category: Business)
With US$ 500 m capital infusion national carrier ready for stronger take off By Cheranka Mendis Sri Lanka’s national carrier SriLankan Airlines and budget carrier Mihin Lanka are growing despite challenges and are no longer loss-making entities, SriLankan Airlines Chairman Nishantha Wickremasinghe said. Hosting a group of journalists around the SriLankan base in Katunayake, Wickremasinghe .....
- SriLankan Airlines’ IAA completes first TAASL member agent training program (Category: Business)
- SriLankan goes daily to Beijing, Shanghai from mid-July (Category: Business)
- SriLankan lauded for role in tourism promotion (Category: Business)
- House of SriLankan Airlines chairman robbed (Category: Breaking News)
D.E.W. Gunasekara says it is routine with 2010 Annual Report as subject; Ravi K says will take up reversed NSB-TFC deal and other stock market illsThe Chairman and Commissioners of the Securities and Exchange Commission (SEC) will appear before the Committee on Public Enterprises (COPE) today when Opposition is likely to query on ill doings ...
- NSB-TFC deal: CID questions Kariyawasam (Category: Business)
- A comprehensive investigation is underway on TFC-NSB deal – SEC (Category: Breaking News)
- NSB’s custodial role suspended, Sampath clears Friday settlements (Category: Business)
- NSB Head gives quit notice (Category: Business)
In the Daily FT article titled ‘Top economist fires warning on rapid rise in commercial borrowings,’ there were some inaccuracies with regard to public debt figure and percentage share of foreign debt. The correct figures are as follows: As at May 2012, public debt amounted to Rs. 5.90
- Govt. Debt Up Rs. 465 Bn. (Category: Breaking News)
- Debt: 89% Of GDP (Category: Breaking News)
- Government Whip reveals govt. debt (Category: Breaking News)
- Rs. 3bn budgetary allocation for foreign debt restructuring, settle int l sovereign bonds (Category: Breaking News)
In Sri Lanka to empower and enlighten Sri Lanka’s business community and budding entrepreneurs, Chair Emeritus and board member of the MIT/Stanford Venture Lab Gigi Wang will host a seminar titled ‘Success drivers of Silicon Valley – venture capital, investment and business opportunities for Sri Lanka’ tomorrow in collaboration with Infotechs Ideas. Speaking to the ...
- Internet pioneer and Silicon Valley insider Gigi to hold top seminar on 8 Aug. (Category: Business)
- Growth Plan for Sri Lanka (Category: Breaking News)
Whilst tracking the key moments of the London Olympics, I realised how reliant I was on the text updates that beeped on my Blackberry and then when time permits go to YouTube or the official websites to experience this key happening as it unfolds to the world. But, then I realised that my friends had ...
- HR and London Olympics (Category: Business)
- Coca-Cola and McDonalds launch London Olympics 2012 memorabilia (Category: Business)
- Marketing 3.0 and Sri Lanka (Category: Business)
- London Olympics biggest in US TV history, despite gripes (Category: Business)
The first-ever official-level India-Sri Lanka CEOs Forum will be held today, discussions at which are expected to focus on the way forward to double bilateral trade to $ 10 billion over the next few years. Since the current bilateral trade worth $ 4.8 billion is heavily in favour of India, the Sri Lankan CEOs team, ...
- More Lankan CEOs queuing for India (Category: Business)
- Top Lankan CEOs bullish post Indo-Lanka meet (Category: Business)
- India, Sri Lankan CEOs meet (Category: Breaking News)
- CA Sri Lanka holds CEOs’ Forum (Category: Business)
UNP MP Dr. Harsha De Silva claimed yesterday that political capture of the capital market regulator SEC wasn’t the answer to the ills of the Colombo Stock Exchange (CSE). In response to Daily FT’s lead story yesterday, which featured Finance Ministry Dr. P.B. Jayasundera’
- No investigations yet on EPF transactions (Category: Business)
- Dr. jayasundera-capital market meeting positive (Category: Business)
- Harsha declares SEC fiasco a Govt. failure (Category: Business)
I refer to the interesting article on the dairy sector in Tuesday’s edition of the Daily FT by Charitha Ratwatte. I would like to give my opinion as to why the dairy industry has languished in an ever deteriorating state, with a reducing national herd and limited growth in milk production
- Dairy: The mirage of self-sufficiency (Category: Business)
- Dairy industry in the North re-awakening (Category: Breaking News)
- Resources to develop dairy industry under proper management (Category: Breaking News)
- Sri Lanka’s Dairy production drops by 30% (Category: Breaking News)
THE agreement with the Board of Investment and the joint venture between top firms John Keells Holdings (JKH), Brandix Ltd., and MMBL to start a new domestic air operation will be signed today. Daily FT learns the new operations will be branded as Cinnamon Air, with JKH holding 40% stake
- Hotel Skills (Category: Business)
- Tourism Move (Category: Business)
- Healthy Beverages (Category: Business)
- Banking Ventures (Category: Business)
At Tuesday’s meeting Finance Ministry Secy. reiterates united effort by all to revive Colombo Bourse To appoint all stakeholders-comprised Consultative Committee for regular dialogue and consensus Credit rule to be revised to boost retail participation; fresh support to brokers in the offing, among other measures Meeting with top listed blue chips to be convened next ...
- SEC succumbs! (Category: Business)
- Dr. jayasundera-capital market meeting positive (Category: Business)
- Brokers delighted by talk, lunch with President (Category: Business)
- Dr. PB to meet SEC Commissioners today (Category: Business)
By Cheranka Mendis Imperial Builders Pvt. Ltd., a real estate company from Pakistan, will initially invest US$ 14 million in the Slave Island (Station Passage) redevelopment program, conducted in partnership with the Urban Development Authority (UDA) and Ministry of Defence. This is exclusive of other accumulating costs and an investment of US$ 23 million is ...
- Gains, Pains In Paki FDI (Category: Breaking News)
- Never fear, green is here (Category: Australia, Queensland)
- Housing project could put 2,000 Washingtonians to work (Category: USA, Washington)
- More development from Imperial (Category: Business)
The six months Treasury Bill Weighted Average Yield (WAY) rose yesterday contrary to market expectations, Wealth Securities Ltd said. “Against market expectations and the downward momentum created at last week’s auction, the six months bill weighted average edged up by two basis points to 12.87% at its weekly Treasury bill auction held yesterday,” the debt ...
- Treasury bill WAY increases across all maturities (Category: Business)
- Hike Stalled (Category: Breaking News)
- Fresh shock in forex market as rupee breaks 132 barrier to hit a month low (Category: Business)
- Money market liquidity increases once again (Category: Business)
The weighted averages at this week’s Treasury Bill auction dipped marginally for the first time in six weeks, debt market specialist Wealth Trust told the Daily FT. The dip reversed an upward trend in rates over the past few weeks, it added. The 91 day and 364 day maturities dipped
- Asian Alliance market cap triples in a month to Rs. 14.3 b (Category: Business)
- Bourse blues continue (Category: Business)
- Six months Treasury Bill WAY jumps against expectations (Category: Business)
- Consumers Living In The Red (Category: Breaking News)
Finance Ministry Secretary Dr. P.B. Jayasundera is scheduled to hold a meeting today with the Securities and Exchange Commission (SEC) Chairman and Commissioners. The Daily FT learns the convening of SEC team including the Acting Director General is a follow up to the President and Finance Minister
- Sri Lanka SEC to impose minimum free float (Category: Breaking News)
- Resigned (Category: Business)
- Still There (Category: Business)
- More Time (Category: Business)
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
- Lion leads frontier markets (Category: Business)
- Sri Lanka’s growth world’s fourth best! (Category: Business)
- Sharper slip in Sri Lanka’s rank in global competitiveness (Category: Business)
Minister and All Ceylon Muslim Congress Leader Rishad Bathiudeen yesterday reiterated that he never made any threat to the Mannar Magistrate and District Judge. He said he had not seen the Judge or contacted him over any matter. “As a responsible Minister, I know the gravity of the crime and the consequence of threatening a ...
- Landlords go to court to fight Gov. Walz's eviction moratorium (Category: USA, Minnesota)
- Judge hears legal challenge to Anne Arundel restaurant restrictions (Category: USA, Maryland)
- When health orders stopped him from touching his wife, this man joined a lawsuit against his sta... (Category: USA, Maryland)
In response to the Daily FT article published on Monday capturing comments made at the President’s forum with capital market stakeholders on Friday, former SEC Chairperson Indrani Sugathadasa said yesterday: “I want to reiterate that I resigned from the SEC post upholding my principles
By Cheranka Mendis Asia Leisure, a fully-owned subsidiary of Asia Capital Group, yesterday announced a strategic tie-up with Japan Capital Pvt. Ltd., through which the latter has made an initial investment of US$ 1.8 million in Asia Leisure’s property in Wadduwa. Anticipated to be up and running by June/July next year, Japan Capital has bought ...
- Asia Leisure forms partnership with Teoria Investment Japan for new hotel projects (Category: Business)
- Asia Leisure Ties Up With Japan’s Teoria Investments (Category: Business)
- Asia Capital begins construction of two luxury hotels in Balapitiya and Wadduwa (Category: Business)
- South Africa’s Sun City to invest $ 800 m in Sri Lanka tourism (Category: Business)
The IFS has sent a statement correcting Daily FT’s 19 July article titled ‘Gartner endorses IFS Applications’. IFS said the correct headline should be Gartner comments IFS applications in their report. Quoting extracts from the Gartner report on Magic Quadrant for Single-Instance
- IFS brings mobile workforce scheduling to the cloud (Category: Business)
- IFS Applications ‘dominant’ in mixed mode manufacturing ERP functionality (Category: Business)
- Fitch Downgrades Sri Lanka Insurance’s IFS to ‘CCC+’ on Sovereign Downgrade (Category: Breaking News)
- Fitch Downgrades Sri Lanka Insurance’s IFS to ‘CCC+’ on Sovereign Downgrade (Category: Breaking News)
Says trade before politics and wants better connectivity for businessmen By Uditha Jayasinghe Sri Lanka should tap into the south Asian region, which is putting trade before politics, said a top official, calling for Sri Lanka to move ahead with the Comprehensive Economic Free Trade Agreement (CEPA). South Asian Association for Regional Cooperation (SAARC) Chamber ...
- Basil urges greater integration by SAARC biz (Category: Business)
- Re-considering SAARC trade (Category: Business)
- Sun Foundation extends its initiative in Sri Lanka (Category: Business)
- South Asia’s private sector unites to fast-track trade facilitation (Category: Business)
The Colombo Bourse’s performance will be under scrutiny today following what brokers described as “very positive” meeting on Friday with President Mahinda Rajapaksa who was emphatic that the stock market must be revived. The market on Thursday gained by 1.5% ahead of President’s meeting though on Friday it closed almost flat with low activity as ...
- Dr. jayasundera-capital market meeting positive (Category: Business)
- Mahinda magic! (Category: Business)
- Brokers more positive after meeting with SEC (Category: Business)
- Brokers delighted by talk, lunch with President (Category: Business)
More expansion planned to ride the post-war rebound in tourism and entertainmentBy Cheranka Mendis Hilton Colombo Residence has embarked on a major renovation plan for the hotel to reap post war benefits starting with the expansion and refurbishment of its Union Ballroom. Completed in seven months at a cost of US$ 3 million, the Union ...
- The going is good, says Galadari GM (Category: Business)
- Facelift for two Colombo Fort Hotels’ properties (Category: Business)
- Lighthouse Hotel goes for refurbishment, more rooms (Category: Business)
- Centara to open two hotels in Sri Lanka in second half of 2012 (Category: Business)
Acuity Stockbrokers Ltd. on Wednesday sent a strong message that it is time investors grabbed early opportunities to invest in equities based on attractive valuations as the “Lion” is leading frontier markets. Its latest research report on the Lankan economy and equity market was launched via a forum involving an expert panel and its clients. ...
- Businessman falls to death from 7th floor apartment (Category: Breaking News)
- Economist falls to his death (Category: Breaking News)
- Mineral Wealth (Category: Business)
- Investor Eye launches investment research service (Category: Business)
With reference to Daily FT’s response (published on 9 July 2012) to Opposition Leader Ranil Wickremesinghe’s comments in Parliament on 5 July 2012, he made a further statement on 18 July. Here is the full text of Wickremesinghe’s statement made in Parliament on 18 July: "
- Letter From Frederica To Editors Guild (Category: Breaking News)
- What the UNP Leader told Parliament (Category: Business)
- Sri Lanka’s “Free” Media (Category: Breaking News)
- Journalism awards of excellence 2011 on today (Category: Breaking News)
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 ...
- Why Lion leads frontier (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- Sustainability in volatility: The bankers’ challenge (Category: Business)
The relatively low rate under which the $ 1 billion 10-year sovereign bond issue was concluded is largely due to overall low yields in global markets and not necessarily because of claimed improvement in Sri Lanka’s fundamentals or the economy, independent analysts told the Daily FT yesterday
- Sri Lanka exploits brief calm to raise $1 billion (Category: Breaking News)
- Measuring Risk (Category: Business)
- Price Discovery (Category: Business)
- Bond Moves (Category: Business)
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 ...
- Bond Sale (Category: Business)
- Bond Launch (Category: Business)
- Deal Awards (Category: Business)
- CB Chief urges more corporates to go for bonds after BOC’s mega success (Category: Business)
Gaining effective control in Browns and Moody’s linked unit’s A- rating are positive developments say analysts Further improvements likely as LOLC progresses towards diversified holding company milestone LOLC last week effected what could be estimated as Rs. 7 billion mark topping acquisition since January 2010 as part of properly repositioning it as a diversified holding ...
- LOLC moves to gain full control of Brown and Company PLC (Category: Breaking News)
- LOLC weathers tough year with highest-ever profits (Category: Business)
- LOLC forges ahead with steady growth in profitability (Category: Business)
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