Employees Provident Fund (EPF) yesterday bought a 5% stake in Piramal Glass Plc for Rs. 280.5 million increasing its overall holding to near 10% thereby becoming the single largest local shareholder. Prior to yesterday’s purchase, EPF held 4.11% stake as at end 2011, up from 1.94
- Ranil brush up! (Category: Business)
- SLIC sells 3.4% DFCC stake to EPF for Rs.1.2 b (Category: Business)
- Laugfs gas has last laugh at EPF? (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
The UNHRC resolution was very unfortunate. This is the first time our country has been subject to this kind of scrutiny. As a fan of the President, it is very unfair that he has been subject to such humiliation. The President has been let down by his advisors. In the recent weeks we have seen ...
- Kamala Harris' VP win is huge for HBCUs, Tougaloo president says (Category: USA, Mississippi)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
- Shribman: Gorman, summoned to participate, is celebrated (Category: USA, Massachusetts)
Veteran banker Eastman Narangoda is tipped to step down as the Chairman of Seylan Bank at its Annual General Meeting scheduled for today. The move is despite Narangoda being listed in AGM’s agenda for re-election as Chairman and Director as he retires by rotation in terms of Article 82 of the Articles of Association of ...
- Seylan Bank H’tota branch relocates (Category: Business)
- Seylan Bank Chairman resigns (Category: Breaking News)
- Seylan Bank gets a new Chairman (Category: Breaking News)
- Seylan Bank extends network to Chenkalady (Category: Business)
The bourse breathed a sigh of relief at Friday’s trading on the knowledge that sanctions, at least in the immediate future will not be imposed on the island despite Thursday’s Human Rights (HR) resolution against Sri Lanka at Geneva which resulted in it returning a higher Rs. 926.9 million turnover on Friday compared to low ...
- Bourse Hits New Low (Category: Breaking News)
- Palmyrah Development Board improve turnover (Category: Breaking News)
- Brokers blame ATS-7 for turnover slump on CSE (Category: Breaking News)
- Shares move from marginally down position in mid-day trade to red territory as day proceeds (Category: Breaking News)
Avurudhu Rupee Commitments Bear on Exporters The exchange rate (ER) held at the Rs. 130 levels to the US dollar ($) at Wednesday’s, Thursday’s and Friday’s trading as exporters began encashing their $ proceeds to meet their local commitments, a market source told this reporter. “In the event they persisted in holding on to their ...
- Rupee Strengthens, But Illiquid Status Worsens (Category: Breaking News)
- Money Market, ER Management, Full Marks To CBSL (Category: Breaking News)
- Quo Vadis Exchange Rate? (Category: Breaking News)
- PBJ, (Category: Breaking News)
Rupee recovers on State bank dollar supplies; stocks down Reuters: TWO State banks sold dollars to boost the rupee on Tuesday after it hit a record low of 131.60 a day earlier, despite strong importer demand for greenbacks due to the forthcoming April festive season. The rupee, however, retreated to close at 129.90/130.00 a dollar, ...
- Rupee on a yo-yo! (Category: Business)
- Rupee hits record low as IMF discusses loan (Category: Business)
- Rupee a tad weaker, stocks remain bearish (Category: Business)
- Rupee sinks to record low (Category: Business)
The country’s forex market encompassing highly dependent importers and key source exporters was yesterday rocked by what analysts described as the sharpest day gain in the US dollar exchange rate. Before mid-day the Rupee touched a new low of Rs. 127 and then on to Rs. 128 prompting many to assume the rate had bottomed ...
- Rupee hits new low despite inflows (Category: Business)
- CB gives fresh boost to CSE (Category: Business)
- Markets becalmed (Category: Business)
- Rupee weakens on importer dollar demand (Category: Business)
Continuous foreign buying in to select listed companies saw the year to date net inflow top the Rs. 20 billion mark by yesterday. The Colombo stock market began a fresh week with year to date net inflowing being at Rs. 17.7 billion and a further Rs. 2.5 billion was added bringing the total to Rs. ...
- Govt. Debt Up Rs. 465 Bn. (Category: Breaking News)
- Debt: 89% Of GDP (Category: Breaking News)
- Net foreign inflow tops Rs. 29 b mark (Category: Business)
- Foreign inflows at CSE top Rs. 23 b (Category: Business)
Instead of 'Employees', one could call it the ‘Empathetic’ Provident Fund (EPF) considering its unprecedented move of sharing the mega sale of 8.4% stake or 71 million shares in premier blue chip JKH for Rs. 13.77 billion (Rs. 194 per share) on Friday to Malaysia’
- Khazana entry an all-round boost as net foreign inflow tops Rs. 17 b (Category: Business)
- Khazanah kudos! (Category: Business)
- Captains reduce exposure to JKH (Category: Business)
- SLIC sells 3.4% DFCC stake to EPF for Rs.1.2 b (Category: Business)
The entry in to Sri Lanka by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad via John Keells Holdings (JKH) is being hailed as a all round boost for the country, the Colombo stock market as well as the premier blue chip. JKH which has many first to its credit is also the first stock on ...
- Khazanah kudos! (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
- Net foreign inflow tops Rs. 30 b; Bourse rebounds (Category: Business)
- Foreign craving for stocks grows; inflow tops Rs. 28 b (Category: Business)
Khazana Nasional Berhard, the investment holding arm of the Government of Malaysia, yesterday acquir..
Malaysia’s sovereign wealth fund buys 8.8% stake in premier blue chip JKH for an estimated US$ 120 m from EPF Market turnover rockets to four-year high Khazanah Nasional Berhad, Malaysia’s State investment arm, yesterday bought an 8.8% stake in John Keells Holdings (JKH
- EPF gets a profit of 800 million rupees (Category: Breaking News)
- Rupee hits new low despite inflows (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
- Stock market at 11-week low despite foreign inflows (Category: Business)
The Employees Provident Fund gets a profit of 800 million rupees. The Employees Provident Fund which possessed 71 million shares of conglomerate John Keells Holdings had been sold at 194 rupees per share, bringing a capital gain to the Fund. These shares have been purchased by Malaysia’s Khazana Nasional Berhard, a sovereign wealth Fund. ...
- Political bunfight over City Hall costs (Category: Australia, Queensland)
- 2.9 mil to asbestos victims (Category: Australia, Tasmania )
- IMF to consider $ 800m loan for Sri Lanka (Category: Breaking News)
- Sri Lanka continued strong economic recovery says IMF (Category: Breaking News)
Amidst a mandatory offer for Aitken Spence by Melstacorp, both linked to business tycoon Harry Jayawardena, outside investors are managing to collect quantities in a development which analysts termed a bit bizarre. For example, last week on Monday three million shares of Spence traded for Rs. 347 million, but Harry had been able to pick ...
- Harry triggers Takeover Code on Aitken Spence (Category: Business)
- Harry picks up Rs. 336 m more of Spence shares (Category: Business)
- Harry’s Melstacorp buys 11% more in Spence for Rs. 5 b (Category: Business)
SLIC books hefty Rs. 4 b capital gain as an eager Harry secures large block; Ups control to 40.8%; Melstacorp to revise Spence mandatory offer price to Rs. 115 per share from Rs. 113 Business tycoon Harry Jayawardena-linked Melstacorp Ltd. yesterday acquired a strategic block of an 11% stake in Aitken Spence Plc for Rs. ...
- Harry picks up Rs. 336 m more of Spence shares (Category: Business)
- Others secure, Harry misses in scramble for Spence shares (Category: Business)
- Harry triggers Takeover Code on Aitken Spence (Category: Business)
- Distilleries transfers 16.3% Spence stake to Melstacorp for Rs. 7 b (Category: Business)
Locals may be having fears of the Geneva outcome but the very investors from the West are continuing to be bullish with net inflow topping the Rs. 3 billion mark by yesterday. Foreigners were net buyers to the tune of Rs. 224 million increasing the net inflow under just two months of the year to ...
- Foreign inflows at CSE top Rs. 23 b (Category: Business)
- Foreigners in Rs. 600 m net buying (Category: Business)
- EPF ups stake in Vallibel One to 2% (Category: Business)
- Foreigners bullish; buy Rs. 279 m worth of shares (Category: Business)
Benito Mussolini, the fascist ruler of Italy, during World War II, said that his brand of fascism ‘should be more appropriately called Corporatism, because it is a merger of state and corporate power’. Compare this with the dictionary definition of capitalism: ‘A system in which a country’s business and industry are controlled and run for ...
- Entrepreneur and the profit motive (Category: Business)
- The rise of State capitalism: new masters of the universe or an ominous portent? (Category: Business)
- State Capitalism: Revitalising underperforming businesses the Mussolini way (Category: Business)
- Governance - Four examples; two bad and two good (Category: Business)
The Colombo Bourse last week saw a net foreign inflow of Rs. 1.2 billion, with Aitken Spence Plc drawing the most buying, whilst brokers expect the non-national interest to grow further. Spence saw net foreign shareholding increase by 4.8 million shares or 1% last week, whilst overall nearly five million of its shares traded for ...
- Harry picks up Rs. 336 m more of Spence shares (Category: Business)
- Continuous buying pushes net foreign inflow to over Rs. 20 b (Category: Business)
- Foreigners bullish; buy Rs. 279 m worth of shares (Category: Business)
- Bourse back to double digit dip (Category: Business)
Ceylon Hotels Corporation Plc has appointed Guanapala Tissakuttiarachcchi as a Director representing the Employers Trust Fund Board from 16 February. He replaced K.M.A. Godawatte. Tissakuttiarachchi is a Director of the Employers Trust Fund Board, on which he has served since 2005. EPF owns 11.4
- Higher Level (Category: Business)
- Albuquerque police investigate two fatal stabbings (Category: USA, New Mexico)
- Hotel Buy (Category: Business)
- Eastern Beaches (Category: Business)
Contrary to exaggerated claims the EPF investments in to the stock market last week had amounted to only less than 10% of market activity and unlike some past contentious buys, this time around it had focused on blue chips. The total turnover of the Colombo bourse last week was Rs. 8.6 billion
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
- Crisis Colombo! (Category: Business)
- Foreign net inflow tops Rs. 3 billion (Category: Business)
- Aitken Spence draws biggest foreign buying as net inflow tops Rs. 1 b (Category: Business)
EPF and stock market I was sad to see in the FT that EPF has begun to purchase stocks in the market again. Is it to give the market a boost or is it to fatten someone’s pocket again, as some people claim? It was not very long ago that the fund made so much ...
- No investigations yet on EPF transactions (Category: Business)
- Don’t judge EPF investments in Bourse too harshly (Category: Business)
- Ranil fires all cylinders (Category: Business)
- Ranil brush up! (Category: Business)
UNP National List MP and Chief Economist Dr Harsha de Silva said that he had wanted Central Bank Gov..
ASI gains by 5% as Bourse’s value swells by Rs. 96 b Brokers positive after fresh meeting with SEC EPF, private institutional and high networth investors active on attractive valuations The Colombo stock market yesterday produced a major rebound gaining by 5% thanks what some described
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
- Crisis Colombo! (Category: Business)
- From bust to boom? (Category: Business)
- ‘Boom’ is back? (Category: Business)
EPF, which returned to the market on Monday, was most active yesterday as well. It picked up available quantities of JKH, Bukit Darah, Carsons, Dialog, CT Holdings, Cargills, Asian Hotels, CIC Holdings and LOLC among others, whilst ETF too remained active collecting select stocks
- EPF value increases (Category: Breaking News)
- Rs. 1 trillion richness for EPF (Category: Business)
- Gevindu presses PM over EPF matter, discrepancy in interest payments (Category: Breaking News)
- Ranil brush up! (Category: Business)
Stock market plunges further; Rs. 69 b in value wiped off One year loss of value is a staggering Rs. 766 b EPF and foreign buying saves Bourse after near 5% crash Rupee dips to all-time low of Rs. 120; likely to settle down though triggering panic in import trade Crisis could be an understatement ...
- ‘Boom’ is back? (Category: Business)
- Stock market dip aggravates (Category: Business)
- Investor confidence worsens by the day; bourse loses Rs. 53 b in value (Category: Business)
- CB gives fresh boost to CSE (Category: Business)
Hayleys MGT Knitting Mills (MGT) yesterday announced plans to raise Rs. 914 million via a 2 for 1 Rights Issue at Rs. 9 per share. Subject to shareholder and regulatory approvals, funds raised from the Rights Issue will be utilised to strengthen the company’s balance sheet; invest in equipment to manufacture higher value fabric; invest ...
- Hayleys-MGT to raise Rs. 914 million via a rights issue (Category: Breaking News)
- Hayleys Proposes Rs914M Rights Issue (Category: Breaking News)
- RAM assigns AA-/P1 corporate credit ratings to Hayleys PLC (Category: Business)
The Inter Company Employees’ Union (ICEU) affiliated to the Janatha Vimukthi Peramuna (JVP) has written to the Labour Commissioner about the risk of employees at the Pelwatte Sugar Company losing their jobs and requested an urgent meeting to discuss several key issues. ICEU Head Wasantha Samarasinghe has stated in the letter that the Pelwatte Sugar ...
- Six star hotel in Sri Lanka soon (Category: Business)
- Sri Lanka sugar company taken over by government in crisis - Union (Category: Breaking News)
- Cane Tale (Category: Business)
- Sell Down (Category: Business)
is sixth largest; EPF’s third place intactJKH’s ...
- New Europe-based fund buying into JKH (Category: Business)
- Asian Alliance buys 1 million shares of JKH; Arisag exits (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
- Foreigners step up buying in a market full of local blood (Category: Business)
The Sri Lankan economy is dragged out – the country is over-borrowing, underperforming and leading into a debt crunch, claims United National Party Colombo District Parliamentarian Ravi Karunanayake. Karunanayake accuses the Rajapaksa administration of damaging the country’s social fabric, which he says is Sri Lanka’s biggest asset. Following are excerpts of an interview: Q: What...
- Share Market Volatility – Causes and Remedies – Part Two (Category: Business)
- Lion leads frontier markets (Category: Business)
- CEB is not a burden on national economy, says Power Minister (Category: Business)
Srilankamirror - The UNP has accused the government of using the monies from the Employees Provident Fund (EPF) to carry out its development agenda. UNP parliamentarian and head of the JSS, Dr. Jayalath Jayawardena has said that EPF monies were being excessively used to construct a 35-story
- Govt. once again trying to swindle EPF monies says TU (Category: Breaking News)
- EPF to be summoned before PAC (Category: Breaking News)
- EPF monies in four private banks (Category: Breaking News)
- Eran wants PSC to probe ‘suspicious’ investment of EPF money (Category: Breaking News)
Popular Topics
- International Monetary Fund (361)
- Political crisis (119)
- Foreign exchange reserves (165)
- Shortage (5)
- Bank reserves (239)
- Fuel (28)
- Economy of Sri Lanka (320)
- Russia (4)
- Ukraine (1)
- Sri Lanka Tea (308)
- Tourism (22)
- Sri Lanka Quality Tea (310)
- Sri Lanka Tourism (310)
- Sri Lanka Cricket (305)
- Sri Lanka Hotels (311)
- Sri Lanka Elections (310)
- Adaderana (26)
- Hiru Tv (10)
- ITN News (420)
- Newsfirst (39)
- Shakthi Tv (10)
- Rupavahini (1)
- Derana Dream Star (9)
- EPF (661)
- BBC (1)
- Rob Ford (7)