Greenlight for Colombo South Port by September
Dispelling earlier rumours that Aitken Spence Holdings was out of the Rs.50bn Colombo Port Expansion Project (CPEP) deal, a source close to the deal said that according to amendments submitted last week, tender hopeful- Aitken Spence-China Merchant consortium had agreed to increase the Net Present Value (NPV) of the project from Rs.14,375mn (US $ 125) to Rs.17,250mn (US$150mn) Read More
Indian hospital chains to re-look at Sri Lanka?
With two of the top hospital chains in India eying overseas expansion, local analysts are excited about the possibility of either one or both of them investing in the healthcare business in Sri Lanka. According to Indian media, Apollo Hospitals, India’s industry leader is looking for contracts to manage hospitals abroad, while Fortis Healthcare is aggressively looking for acquisitions as an expansion strategy. Read More
Nisol up for sale following insolvency
Restructure and corporate recovery firm, SJMS Associates have recently put the properties of their liquidated client, Nisol Corrugated Cartons Ltd (NCC) on sale to retire the debts of the insolvent company. According to a recent newspaper advertisement, NCC is to dispose its corrugated cartons manufacturing plant which is a 9 acre factory land at Ekala – Ja Ela, buildings of approximately 100,000 square feet Read More
“You only learn who has been swimming naked when the tide goes out” - Warren Buffett
This insight by master investor Warren Buffet came true last week in the Colombo Stock Exchange with the implementation of the 10 percent price band by the market regulator to curb excessive manipulation of some shares allegedly by a band of stock brokers. Eventually the tide went out and suddenly people started to see who had been swimming naked by playing in junk shares
Plantation
Organic agriculture and ecosystem services
Ecosystem Services (ES), such as biological control, pollination, soil formation... Read More
SEC kills retail investors under guise of archaic regulation
Sri Lanka is indeed a land like no other. Where else in the world, are capital markets... Read More
Building arks in management
Human behaviour under normal circumstances goes through a process of planning implementation and examination. Read More
Economy
- EPF acting against its own words The Employees’ Provident Fund (EPF), the largest social security scheme in Sri Lanka became the focus of the media last week, due to its recent investments in banks listed in the Colombo Stock Exchange (CSE). The media spotlight on this contentious issue began after this matter was highlighted to the press quite cleverly by the UNP National List MP, Dr. Harsha de Silva. He argued that purchase of shares of listed banking entities by EPF is in contravention of the EPF Investment Policy Statement & Standards of Professional Conduct (Revised on December 2002).
- Balancing price controlsInflation is defined as the aggregate upward movement of prices of goods and services in an economy over a period of time. In most countries the inflation is measured point to point through the Consumer Price Index/the Producer Price Index. Increases in the cost of goods and services over a period of time means that the value of the Rupee is gradually falling, which affects the purchasing power of the people since they would not be able to buy the same quantity of goods for the previous price. This is the point of view from the consumers’ angle. From a producer or manufacturers’ angle, inflation is the general increase in the cost of the factors of production. The funny thing about the Sri Lankan market (and in fact all other markets of the world) is that the consumers blame the producers and vice versa – and no intellectual can say which causes the other to rise since all these factors are inter-related!
Opinion
Motorist
Stories
- SLT Q2 profit before tax up 132% Sri Lanka Telecom PLC, (SLT) the national leading integrated telecommunications service provider released the financial results of the company and group for the quarter ended June 30, 2010 and for the first half of year 2010. During the second quarter, the group has recorded a Profit before Tax (PBT) of Rs. 1.21billion, an impressive 132% growth when compared to Rs. 523 million Profit Before Taxation (PBT) in the corresponding quarter of the previous year. Read More
- “I commend the SEC for price band”On August 4, 2010, on the directive of the SEC, the CSE instituted a 10% upward and downward price band on all listed securities within any trading day based on the previous day’s closing price. This was in response to the unusual price volatility of some stocks. Read More
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Air travel/Tourism
AAI to build airport in Sri Lanka - SriLankan Airlines to support tourism
- Emirates boosts services to Saudi Arabia
- Cathay Pacific special - Fly to Moscow via Hong Kong
- Oman Air CEO to speak at the conference
- Board of Investments (BoI) agreements with Seashells...
- FORTNIGHT QUIZ
