Today’s Front Page 16-04-2012

Published : 12:14 am  April 16, 2012  |  Category: PRINT PAPER  |  Leave a Comment  |  708 views  |  
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SEC’s Acting DG aims to boost market’s integrity, foreign holdings

Published : 12:12 am  April 16, 2012  |  Category: TOP STORY  |  Leave a Comment  |  1,250 views  |  

SEC to set strategic plan to curb manipulation Target of doubling foreign stake in market to 30% Past efforts to curb price-manipulation were stymied REUTERS: Sri Lanka’s once-buoyant, now-ailing stock market needs integrity and greater participation by foreigners to grow well, the new director-general of the country’s exchange regulator said.  Read More →


Critiquing the CEO

Published : 12:10 am  April 16, 2012  |  Category: Hilmy Cader, Opinion  |  Leave a Comment  |  626 views  |  

CEOs, like politicians, can get ‘high’ on power and lose touch with ground reality. They can get surrounded by ‘Yes Men/Women’ (who will dare not be the messenger of bad news) and those who ‘pump-up’ the CEO with ulterior motivated insights. The smarter CEOs benefit from encouraging constructive critique and making it part of the organisational culture.    Read More →


Citrus Group to invest $23.7 m for 150 room four star in Waskaduwa

Published : 12:10 am  April 16, 2012  |  Category: Front Page  |  1 Comment  |  751 views  |  
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Citrus Leisure Group is to invest up to $23.7 million (nearly Rs.3 billion) to build a 150-room four star hotel in Waskaduwa. The venture will be via Citrus’ subsidiary Waskaduwa Beach Resort Ltd., which has signed an agreement with the Board of Investment to this effect.  Read More →


Alex buys 1.5% more Union Bank stake for Rs. 117.5 m

Published : 12:09 am  April 16, 2012  |  Category: Front Page  |  Leave a Comment  |  754 views  |  
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Deputy Chairman Alex Lovell has increased his stake in Union Bank Plc following the purchase of 1.5% shareholding for Rs. 117.5 million. Lovell, who functions as a Non Executive Director at Union Bank, on 5 April had picked up 5.34 million shares at Rs. 22 each, which was about Rs. 5 above the market.   Read More →


End of a long innings for Vijaya at CTC

Published : 12:08 am  April 16, 2012  |  Category: Front Page  |  Leave a Comment  |  724 views  |  
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Vijaya Malalasekera has retired from the Board of Ceylon Tobacco Company (CTC) as a non-executive director at the conclusion of the 2011 Annual General Meeting last week. The exit marks the end of a 39 year old association for Vijaya with CTC.   Read More →


Fresh challenges for financial sector firms from policy rate hike

Published : 12:07 am  April 16, 2012  |  Category: Front Page  |  Leave a Comment  |  555 views  |  

The recent policy rate hike from the Central Bank is expected to bring fresh challenges to the financial sector firms, according to CT Smith Stockbrokers. It said the finance sector companies are likely to go through a tighter economic period as the general consumer debt servicing capacity is expected to deteriorate in the short to medium term.  Read More →


India to allow FDI from Pakistan, open border post

Published : 12:06 am  April 16, 2012  |  Category: Front Page  |  Leave a Comment  |  266 views  |  

Reuters: India has decided to allow foreign direct investment from Pakistan, Trade Minister Anand Sharma said on Friday, before the two countries were due to open a trading post on the Wagah border in the latest sign of thawing economic ties.  Read More →


Two Vietnamese men buy entire US’ Wyoming town for $900,000

Published : 12:04 am  April 16, 2012  |  Category: Front Page  |  Leave a Comment  |  657 views  |  

A town advertised as the smallest in the United States has been sold at auction for $900,000. Buford, Wyoming, is located between Cheyenne and Laramie in southeast Wyoming.  Two unidentified Vietnamese men placed the winning bid for the town last week during the 11-minute auction.  Read More →


EFC launches new guide to investors

Published : 12:04 am  April 16, 2012  |  Category: Front Page  |  Leave a Comment  |  324 views  |  

The Employers Federation of Ceylon (EFC) has launched its second edition of Guide to Investors on Industrial Relations Practices and Labour Laws in Sri Lanka. EFC said that with the Government actively encouraging foreign direct investment in various sectors such as knowledge services, leisure and tourism, apparels and manufacturing, the launch of its guide was timely.  Read More →


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