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The Colombo Stock Exchange said this week that its officials were not summoned before the Parliamentary Committee on Public Enterprises (COPE) for an inquiry on the stock market. It was referring to a report in last week’s Business Times which said officials from the Securities and Exchange Commission and the CSE had been called for [...]
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DFCC Bank is in discussion with several European and Asian entities in a bid to secure international credit, officials said. “We are in discussion with a few parties relating to funding lines. Last year DFCC got a line of US$ 30 million from Deutsche Investitions- und Entwicklungsgesellschaft or DEG (which translates into German Investment Corporation). [...]
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CIC Holdings PLC is set to venture into the African continent with agricultural farming proposals by 2013, officials said. “We’re planning to go to Kenya and Ethiopia with such projects due to land limitations in Sri Lanka,” Samantha Ranatunga Managing Director/CEO CIC told the Business Times. He said this is at its preliminary stage and [...]
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The Vehicle Importers Association has reiterated to the government the need to assist the industry to come out of its current crisis, having submitted its concerns hoping it would be addressed in the next budget. Used vehicles importers are allowed to bring down only 2-year old cars, but the industry wants this extended to three [...]
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New stock George Steuart Finance (GSF), which began trading eight market days ago, has contributed the most to the rise in the Colombo’s main index, the All Share Price Index (ASPI). The recent surge in the Colombo stock market has triggered mixed views on whether this is a deliberate attempt to push the ASPI up [...]
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The Colombo bourse in just four weeks has returned to being among the best performing markets in the world from a worst performer but concerns are being raised over alleged manipulation of junk stocks and an impending credit bubble, analysts say. The AllShare Index (ASI) has risen sharply by 22 per cent or 800 points [...]
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The Securities and Exchange Commission (SEC) for the first time under corporate governance regulations has intervened in the appointment of independent directors to a company. On Wednesday, the SEC directed Watawala Plantations PLC to appoint new independent non-executive directors to the board as three of their present independent directors do not fulfill the criteria of [...]
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Sound fundamentals, a runaway market or positive developments through the appointment of a ‘market-friendly’ regulator are the questions surfacing in the Colombo stock market these days. Another sticky issue is labelling of media as pro-market or anti-market. The media is meant to report events as and when they unfold and analyse developments in an objective [...]
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Officials of the Securities and Exchange Commission (SEC), the Colombo Stock Exchange (CSE) and the Central Bank have been summoned before the Parliamentary Committee on Public Enterprises (COPE) on Tuesday in an ongoing probe of the country’s troubled capital markets. Of particular interest is a confidential document submitted by the SEC nearly a month ago [...]
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Sri Lanka’s ceramic industry has achieved global recognition and though it contributes a small component of global demand, it has made its mark in the world market, according to the ADB Representative in Colombo, Rita O’Sullivan. Addressing the 9th Annual General Meeting of the Sri Lanka Ceramics Council affiliated to the Ceylon Chamber of Commerce [...]
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The Securities and Exchange Commission of Sri Lanka (SEC), now under a new chairperson Nalaka Godahewa, this week expressed concern over media articles on current investigations by the SEC. “The SEC is concerned about certain daily and weekly newspaper articles which appeared recently giving an impression that a number of companies are under investigation by [...]
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MTD Walkers is keen to broad-base its share ownership, but is bidding time for market conditions to improve, officials said. “We have always wanted to broad-base our shareholding, but this isn’t the most opportune time, owing to the current market conditions,” Jehan Amaratunga, Deputy Chairmen MTD Walkers told the Business Times. He said they would [...]
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