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Former Deputy Minister in scathing allegation on Treasury...


By Ravi Ladduwahetty Ceylon Finance Today: Former Deputy Justice Minister and Colombo District UNP MP Sujeewa Senasinghe, in a scathing attack, has alleged that former Central Bank Governor Ajit Nivard Cabraal and Deputy Governor W.A. Wijewardena had drafted the contents of the COPE report on the now infamous Treasury Bond scandal. The former Deputy Minister took Chairman of the Committee on Public Enterprises(COPE) D.E.W. Gunasekera to task about Cabraal and Wijewardena getti...

BY Bandula Dissanayake The "Doing Business Index 2015' has been published for the 12th year in 2014. The latest report on 2016 will be released soon by the World Bank. The index mainly investigates the enhancing and restricting aspects of business in a country. 189 economies were subjected to evaluation under 10 criteria which affect the life of businesses namely: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, prote...

Just weeks after being crowned overall victor and 'International Textile Firm of the Year' at the World Textile Awards in London, Textured Jersey Lanka PLC is on another mission to excel. The company just announced their intent to acquire Ocean India (Pvt) Ltd, further to the disclosure made last February with regard to the initiation of independent valuations and due diligence studies with a view to acquiring a controlling stake in that company. Ocean India (Private) Limited, is a kn...

By Paneetha Ameresekere Ceylon Finance Today: Central Bank (CB) continued to defend the exchange rate (ER) at Rs 133.70 to the US Dollar in interbank spot trading for the fourth consecutive market day yesterday on thin trades, sources told Ceylon FT.Thin trades are natural considering the political uncertainty due to a general election due in another seven weeks' time, on 17 August. CB intervention had the better over market play, they said, thereby draining out the country's foreign re...

By Paneetha Ameresekere Ceylon Finance Today: JKH, the market's largest and said to be one of the most liquid of its blue chip stocks didn't trade for a record second day running yesterday, an interpretation that the market is holding on to their horses till the results of the general elections of 17 August, 2015 are known, before making their next move, sources told Ceylon FT. However, other sources said that the market was waiting for former President Mahinda Rajapaksa's declaration...

AIA's CFO Indika Prematunga won this year's Finance Leader Award at the IPM Sri Lanka People Leaders' Awards, making him the youngest winner ever of this award. Indika's story is one with successes etched onto it right from the start. A product of one of Matara's leading schools Rahula College; he was placed 4th in the island in the Commerce stream at the 1996 A/L examinations. Thereafter he secured a 1st Class Honours (BSA - Accounting and Finance) from the University of Sri Jayawarden...

Demonstrating its commitment to Jaffna and positioning itself to tap greater into the potential of the business boom in the area, Softlogic Finance PLC has considerably strengthened its presence in the Jaffna Peninsula. Softlogic Finance's Jaffna branch has been moved to a more convenient and spacious location at No. 62 & 64, Stanley Road, Jaffna while the new Chunnakam branch is located at No. 101 & 105, K. K. S Road, Chunnakam. The two fully-fledged branches will offer the fu...

( Bloomberg) June 30, 2015 – 7:53 AM The Obama administration plans to raise the wages of millions of Americans who work more than 40 hours a week by requiring employers to pay them overtime. Workers who earn as much as $970 a week would have to be paid overtime even if they're classified as a manager or professional, according to a plan outlined on the Department of Labour website Tuesday. The White House issued a fact sheet Tuesday that said 4.7 million workers nationwide woul...

Access Engineering PLC has entered the property development sector with the investment of 100% and 50% of the ordinary shares of Horizon Holdings Ventures ( Pvt) Ltd......and Horizon Holdings ( Pvt) Ltd for Rs. 273.6 million and Rs. 250 million respectively. Incorporated in June 2015 and March 2014, Horizon Holdings Ventures ( Pvt) Ltd and Horizon Holdings ( Pvt) Ltd, are in the business of developing their property in Malabe over an extent of 12.5 acres. While this investm...

By Paneetha Ameresekere Ceylon Finance Today: A mix of banks' having to meet Central Bank's (CB's) statutory reserves ratio requirement of 6% and CB's defence of the exchange rate (ER),......this time at Rs 133.70 to the US dollar in interbank spot trading, saw market's excess liquidity decline by a massive Rs 11.1 billion or by 14.16% to Rs 67.1 billion at yesterday's trading. Due to the contraction in excess liquidity, the weighted average rate of call money increased by two basis p...

CIMA has elected Myriam Madden FCMA, CGMA as President for 2015-6 following the AGM on 6 June. Myriam is an experienced director of finance, specializing in finance and operational transformation across a broad range of organizations in the public sector, financial services and internationally in global blue-chip companies. She will preside over an important period for CIMA as the organization continues to promote management accounting in business. CIMA will be focusing on building str...

Sri Lankan biz, facilitated by EDB strongly raged at the recent Kunming international fair in China notching initial an income surpassing $2 M – and some eager Lankan firms are still continuing in the mainland having been asked by keen Chinese firms to stay back and conclude initial agreements for future biz, as revealed on 30 June. "Minister of Industry and Commerce, Rishad Bathiudeen and I led the Lankan delegation to Kunming Fair and this was a national level business delegation ...

Ceylon FT

Ceylon Finance Today: Former Deputy Justice Minister and Colombo District UNP MP Sujeewa Senasinghe, in a scathing attack, has alleged that former Central Bank
The "Doing Business Index 2015' has been published for the 12th year in 2014. The latest report on 2016 will be released soon by the World Bank.
Just weeks after being crowned overall victor and 'International Textile Firm of the Year' at the World Textile Awards in London, Textured Jersey Lanka PLC is on
Ceylon Finance Today: Central Bank (CB) continued to defend the exchange rate (ER) at Rs 133.70 to the US Dollar in interbank spot trading for the fourth consecutive

Focus

In what official reports claimed to be an armed prison riot on 9 and 10 November 2012, 27 prisoners and inmates were killed at the Welikada Magazine Prison, while
The former regime's political stalwart MP Nimal Siripala de Silva expressed 'concern' when he asked last week in Parliament, whether the government had a mechanism
Although having formed the Fraud and Corruption Investigation Division (FCID) unit under Section 55 of the Police Ordinance, there were a few points in contention
Last week, four local adults and one teenaged foreigner were infected after coming into contact with what has been identified as Physalia Physalis (Portuguese man