Orient Garments stitches perfect debut
Orient Garments yesterday stitched a perfect debut with 15 million of its shares or 27% stake traded before closing up 21.3%.
The reference price for its shares was Rs. 23 and it peaked to a high of Rs. 40 and a low of Rs. 26.50 before closing at Rs. 27.90, up by 21.30% or Rs. 4.90. It was also the fourth biggest gainer yesterday. A total of 15 million shares changed hands via 1,486 trades generating a turnover of Rs. 424.2 million, the second largest.
Katunayake FTZ workers file FR case against police
By S.S.Selvanayagam
Ten workers of the Katunayake Free Trade Zone (FTZ) yesterday filed a fundamental rights violation petition before the Supreme Court against the impugned police assault on peaceful demonstrators within the FTZ on 30 May.
In their petition filed through their instructing attorney-at-law Gowry Shangary Thavarasha, they cited Police OICs of Katunayake and Seeduwa, Negombo DIG, former IGP Mahinda Balasooriya, the Board of Investment, Army Commander Lt.Gen.Jagath Jayasooriya and the Attorney General as respondents.
Rishad moots multi-departmental body to sustain long-term export upswing
Three emergent challenges to export growth identified
Sri Lanka is mooting a single coordinating mechanism consisting of vital Government departments to sustain its long-term exports upswing. It has also identified three emergent challenges to future exports growth, according to Minister of Industry and Commerce Rishad Bathiudeen.
“Sri Lanka needs to firmly focus on a collaborative approach to overcome emergent challenges so that our export growth momentum will continue. We need to promote a cross functional team-styled mechanism that involves the vital stakeholders in our exports. The inter-departmental coordination of all concerned Government departments and ministries such as the Customs, Environment Ministry and so on is essential,” added Minister Bathiudeen.
Right of Reply
Heraymila Securities CEO Ravi’s broadside on John Keells; ‘Pump and dump’ and key challenges for capital markets
I was dismayed when I read the Daily FT article ‘Heraymila Securities CEO Ravi’s broadside on John Keells; ‘Pump and dump’ and key challenges for capital markets’ published on 24 June 2011.
My presentation at the workshop was motivated by the need for constructive engagement by the key players in the capital markets to address issues of a fundamental nature rather than destructive criticism, which is disruptive and counterproductive.
Airtel powers the Sri Lanka Economic Summit 2011
Bharti Airtel Lanka (Pvt) Ltd, has announced the Platinum sponsorship of the Sri Lanka Economic Summit 2011. The Summit, which is the foremost business forum in Sri Lanka, is organised by the Ceylon Chamber of Commerce for the 12th consecutive year. This is Airtel’s third consecutive year as Platinum Sponsor of the event. Scheduled for 4-5 July, at the Cinnamon Grand Hotel, Colombo, the conference will focus on “Driving growth through fast track implementation”.
Chinese buyers mesmerised by splendour of Ceylon sapphires
Chairman/CEO of the National Gem & Jewellery Authority (NGJA) General Rohan Daluwatte stated that the NGJA, with the collaboration of Sri Lanka Gem and Jewellery Association and the assistance of the Sri Lanka Embassy in Beijing and Sri Lanka Consulate in Shanghai, organised the Sri Lanka Pavilion at the Jewellery Shanghai Show.
The show was held from 16 to 19 June 2011 for the third consecutive year. The Sri Lanka Pavilion showcased the products of 28 Sri Lankan gem and jewellery trading companies.
Ranjit appointed to JKH Board
Top professional Ranjit Gunasekara has been appointed to the Board of JKH with effect from 1 July.
To take up this post, he has resigned from the Board of Asian Hotels and Properties Plc., and Trans Asia Hotels Plc.
Gunasekara aged 63 is a Fellow of the Institute of Chartered Accountants of Sri Lanka and has been involved with Auditing, Finance and Accounting in the past 41 years. Having articled at Turquand, Youngs and Co, Sri Lanka (now Ernst & Young), he was involved in the accounting practice at Turquand, Youngs and Co, Sri Lanka, and Coopers and Lybrand, Zambia and Botswana.
Sanjeev Mohan new Chief of Sri Lanka Institute of Printers
Top professional Sanjeev Mohan has been elected as the new President of the Sri Lanka Association of Printers (SLAP).
He succeeded Ms.Dharani Karunarathne.
Mohan said that with the support of the Executive Committee and members SLAP could be made a gem that glitters best as well as the tenure of the new team a gem of a year
Most mobile operators expect LTE phones by 2013
Two thirds of global mobile operators believe sufficient numbers of LTE handsets will be available by 2013 to make the technology a commercial success, IP software provider BroadSoft claims.
A study of 40 carriers conducted for the firm by research group mobileSQUARED found that 33% expect commercial quantities of 4G handsets to be available as early as 2012, with a further third placing the date in 2013.
IT managers have their heads in the clouds!
IDC says global cloud server revenue to reach $9.4 billion by 2015
Eager to simplify their current IT environments and introduce new initiatives to enhance overall business value, IT leaders are embracing server cloud computing as a viable option for decreasing complexity by adopting converged systems that arrive pre-integrated and ready for use (private cloud) or are offsite entirely (public cloud). According to new research from International Data Corporation (IDC), worldwide revenue for servers deployed to public clouds will reach $3.6 billion in 2015 while private cloud server revenue will balloon to $5.8 billion.
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