@2022 - All Right Reserved. Designed and Developed by Rev-Creations, Inc
581 results found in 1719 ms
Page 8 of 20
Minority shareholders and analysts are fuming over MBSL’s failure of proper disclosure, including providing no justification for the sale of its controlling stake in its savings bank subsidiary. Sequel to Daily FT’s expose yesterday, investors said that MBSL in its 2010 Annual Report
With open economic policies, the health sector in Sri Lanka has shown a significant development during the last few years. With the increasing population, which has now reached 20.8 million, there was a dire need for the country to improve her healthcare facilities and this requirement is now being fulfilled by both public and private ...
Planned divestiture of subsidiary – the sole private savings bank in the country – not advertised Deal with in-out-and-in Navara Capital under fire as Rs. 562 m strike price falls below Board recommendation Analysts label deal price as “cheap” when CB is unlikely to be generous in issuing new Specialised Bank licences in the future ...
The main broker Taprobane Securities Ltd. is awaiting instructions from the Securities and Exchange Commission (SEC) with regard to reversal of contentious NSB-TFC deal. Daily FT learns the broking firm has informed the SEC of the intimation from the buying party of its unwillingness to pay
UNP MP Harsha asks under what law did President order non-payment of a stock market transaction? The contentious NSB-TFC deal on Friday reverberated in Parliament with the main Opposition UNP MP Harsha De Silva firing a stinker to the Government benches asking under what law did President Mahinda Rajapaksa order the non-payment for a transaction ...
Right of reply The Colombo Stock Exchange (CSE) yesterday issued a reply to comments made by former HNB Chairman Rienzie T. Wijetilleke in an article published in the Daily FT titled ‘Wijetilleke backs calls for tough action on NSB-TFC deal’. The full statement is given below
By Kshanika Argent When Dr. Milinda Salpitikorala was a child he loved to draw. Now, as the 30-something year old medical professional embarks on his most ambitious visual art project, he calls it more than a favourite past time, but an alter-profession of sorts. The ‘Doc’ as he’s fondly known to close friends and associates, ...
Calls for dismissal of wrongdoers Outlines the numerous offenders Insists brokers are now market “breakers” Casts blame on CSE and says worst hit is the Bourse Prominent banking personality Rienzie T. Wijetilleke, who is best known as the former Head of the Hatton National Bank and for his 10-year stint as a Director of the ...
NSB takes one step forward and two back and Govt’s cure appears worse than the disease Unprecedented reversal of trade in the offing with sellers agreeable to buy back Analysts opine Bourse in Catch 22 situation as stakeholders mixed over the approach to the cancellation and authorities not holding those responsible accountable so far Confirming ...
Newly-merged HP Printing and Personal Systems Group offers compelling customer experiences with innovative portfolio; among 80 new products is the world’s first mobile all-in-one printerThe world’s largest technology company HP on Wednesday in Shanghai, China, showcased its unparalleled line of computers and printers, the first show of resolve for the newly-created HP Printing and Personal ....
By Cheranka Mendis With tourism numbers increasing, Sri Lanka Tourism must now look at aggressive destination promotion, especially at travel and trade fairs abroad. While the industry expressed delight over the tourism authority’s interest in supporting more participation in international travel fairs, the lack of representation of the authority itself is a major drawback to ...
The National Savings Bank’s (NSB) role as a custodial bank has been suspended by the Colombo Stock Exchange following its failure to honour the payment on its purchase of a 13% stake on 27 April, the Daily FT learns. CSE officials refused to comment about the suspension whilst
Whilst the NSB Chairman or General Manager/CEO are yet to officially respond to allegations surrounding the purchase of TFC shares, especially by UNP MP Dr. Harsha De Silva, Presidential Spokesman Bandula Jayasekara told the Daily FT yesterday that President Rajapaksa had instructed officials
Experts and analysts insist savings giant as a custodial bank must pay up and resolve internal issues separately without compromising integrity stability and confidence of market Popular settlement banker Sampath with Rs. 390 m overdrawn from CDS following payment on TFC deal stalls operations on Friday, causing chaos for brokers and clients of other deals; ...
By Cheranka Mendis Asia Leisure, a fully-owned subsidiary of Asia Capital Group, has formed a strategic tie-up with Teoria Investments Japan, through which Teoria has made an initial investment of US$ 2 million into Asia Leisure’s property Taprobana in Balapitiya. Anticipated to be launched in April 2013, Taprobana is the start of a major expansion ...
The City of Colombo was lit up with fairy lights, lanterns and pandols as the country celebrated the birth, enlightenment and passing away of Lord Buddha with the annual Vesak festivities that took place in the island. Daily FT photojournalists captured these colorful moments over the last two days
In a bizarre and perhaps unprecedented development, the T+3 settlement deadline as per rule in the Colombo Bourse on National Savings Bank's purchase of a 13% stake in The Finance Company Plc (TFC) hadn't been met yesterday. NSB bought the stake amounting to 7.8 million shares for Rs. 393 million on Friday. As per the ...
Sri Lanka Ports Authority will begin an upgrade to its current passenger terminal this year, given the interest shown by cruise liners to stop by and disembark at the Colombo Port. SLPA Harbour Master Capt. Ravi Jayawickreme told the Daily FT that plans are underway to begin an upgrade project
One week on, NSB has remained silent concerning the purchase of a 13% stake in The Finance Company Plc (TFC) at a hefty premium, prompting analysts to claim the savings giant was either ignoring or confirming controversies and allegations levelled by the UNP and the market. This assertion is despite TFC on Wednesday issuing a ...
A word about ‘The Business of Sport’ column that appears in the Daily FT, which I have deeply enjoyed. Here is a series of articles that touched the ‘inner depth’ of Sri Lanka’s popular sport arenas. It is a pity that the sport enthusiasts in Sri Lanka are denied
Dear Editor, During the past few months, I have observed criticism, mainly by the Opposition Parliamentarians, about the manner in which the Sri Lankan economy has been managed. In my view, their attempts seem to be designed to impose blame on the Governor, Central Bank, perhaps to weaken his resolve and strength and discourage him. ...
With the influx of tourists into the country, the Sri Lanka Association of Inbound Tour Operators (SLAITO) on Monday announced the successful completion of a ‘safety assessment’ of the most frequented tourist sites in Sri Lanka carried out by TUI Travel PLC Head of Specialist in Activity Health and Safety Malcolm Ellis. Commissioned in a ...
TOP professional Samantha Rajapaksa has joined Associated Motorways Ltd. as Group Managing Director and not as Managing Director of AMW Capital Leasing as inadvertently reported in the Daily FT yesterday. He has been appointed only as an Executive Director of AMW Capital Leasing Plc
CB asks banks overnight for their forex commitments for Thursday and Friday; steps up bank visits Convenes meeting with treasury heads of banks; rupee crisis figures in monthly CB-bank CEOs meeting as well Dealers say no room for speculation given the very narrow net open positions; new rules apart from lack of dollars could be ...
Peradeniya Uni's Dr. Perera says exchange volatility is temporary and acceptable IMF's Mathai says no crisis but stability measures taken By Cheranka Mendis UNP MP Dr. Harsha de Silva yesterday made a compelling case that the ‘feel good’ party that the President Mahinda Rajapaksa Government tried to propagate among the people post-war was over, warning ...
Less than a year after starting up on its own, the company prepares to replicate its Indian success in Sri LankaJubilant FoodWorks, the master franchisee of Dominos Pizza for South Asia, last year set up its own subsidiary company in Sri Lanka, moving away from the franchisee partnership which held the fort for the Group ...
By Cheranka Mendis Glaxo SmithKline yesterday opened its latest state-of-the-art pharmaceutical tablet manufacturing facility in Moratuwa, built at an investment of Rs. 217 million. Confirming its commitment towards strengthening its footprint in Sri Lanka, the facility is part of a Rs. 1.4 billion investment that the company will put forward this year in the area ...
As a minority shareholder I thank Daily FT for highlighting the highway robbery committed by the directors of leading banks, which are ultimately owned by the public via the shareholdings of SLIC, EPF and ETF. What you have highlighted in your article is only the tip of the iceberg, in terms
With the strategic move of Sri Lanka Ports Authority (SLPA) to receive all vehicle carriers at Magamruhunupura Mahinda Rajapaksa Port – Hambantota commencing from 31st May 2012, Hellmann Worldwide Logistics through its global vertical – ‘Hellmann Automotive Logistics (HAL) is fully geared to facilitate the logistics requirements of all vehicle importers including formalitie...
Although relatively unknown in Sri Lanka, the world’s third largest advertising holding company, the Publicis Groupe, has a formidable presence worldwide and is represented in Sri Lanka by one of its main global subsidiaries, Leo Burnett. With Sri Lanka showing potential for high growth in the years to come, the second-in-command of the French multinational ...