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| Wednesday, 9 July 2003 |
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Business in brief Bourse dips further The Colombo Bourse dipped further yesterday with the ASPI decreasing to 963.9 points from 987.8 and the Milanka Index to 1,831.8 points from 1,900. The turnover was Rs. 126.2 million. However, stock market analysts said that it was not a 'crashing situation' as there were fluctuations in indices before it settled to the above levels. Hasitha Premarathne of HNB Stockbrokers said that in the absence of any positive political news, investors are in for 'profit taking'. "Any positive news on the political front or about resuming peace talks could bring in a major change in the market situation," he said. He added that the anticipated corporate results for the quarter ended June 30 this year would be another major boost to create a bull run. Among the most traded stocks were Blue Diamonds, Asia Capital, Asian Hotels, Colombo Land, Distilleries, Grain Elevators, JKH, Merchant Bank, NDB, Nations Trust and NDB Bank. Yesterday's top gainers were United Motors, CDIC, Vanik Incorp, Equity Two Ltd and Regnis. Hayleys Exports announced a bonus 1:6. Master plan for Lanka's Port sector MANILA, PHILIPPINES - Tuesday, The Asian Development Bank (ADB) has approved a technical assistance (TA) grant for US$150,000 to help Sri Lanka prepare a master plan for its port sector to guide policy formulation and infrastructure investment. The plan will ensure that the ports sector has sufficient capacity to cater for demand resulting from increased economic activities, allocate resources to make the sector more efficient and consider the sector in the context of competing transport modes, including highways, the ADB said yesterday. 'Key Persons' Forum The Policy Support Unit (PSU) of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has decided to organise a "Key Persons' Forum" with a series of public lectures, seminars and discussions conducted by individuals (local or foreign) with expertise knowledge in various disciplines or key decision makers on matters relevant and of interest especially to the private sector, a FCCISL spokesman said. The inaugural forum will be held on July 17 from 4.30 p.m to 6.00 p.m at the Galadari Hotel. The guest speaker for the inaugural event will be Minister of Commerce and Consumer Affairs Ravi Karunanayake. The Sri Lanka-German Private Sector Promotion Project (PSP) will be partly supporting this event. The Sri Lankan private sector, which is termed as 'the Engine of Economic Growth' is increasingly expected, to be involved in the high level policy formulation process of the country. The Government is expecting a two-way dialogue with the private sector, which will enhance the public-private partnership. There is a continuous dialogue-taking place at national level between the private sector and public sector on matters concerning the private sector and economic development of the country, he said. Outward bound training programs The Sri Lanka Business Development Centre (SLBDC) in collaboration with the Outward Bound Trust of Sri Lanka (OBTSL) conducted an Outward Bound "Weekend Challenge" training program for officers of Seylan Bank from June 20 to 22, at the Dambulu Oya outward-bound centre, Dambulla, a press release from SLBDC said. The SLBDC also conducted an Outward Bound "Weekend Challenge" training program for officers of the National Savings Bank (NSB) from June 20 to 22, at the same venue. A "weekend challenge" training program for senior officers of Tritel Services (Pvt) Ltd was also held from June 11 to 13. The "Weekend Challenge" training program was also conducted for officers of Alpex Marine (Pvt) Ltd from June 13 to 15 at the Dambulu Oya Outward Bound Centre, Dambulla, the release said. 'Gain through Diversification' The Colombo Stock Exchange (CSE) will host a seminar titled "Gain through Diversification" on July 12 from 9.30 a.m. to 12.30 p.m. at the Galle Face Hotel. The seminar will provide an insight into investing in debt and equity instruments and will also discuss the features of the new Debt Securities Trading System (DEX) of the CSE. The seminar will feature industry experts - Amal Sanderatne, Chief Executive Officer, Frontier Research will speak on "A Portfolio Approach to Investment", Deva Ellepola, Chairman, Colombo Stockbrokers Association (CSBA) will speak on "Equity Investments", Ajit Fernando, Chief Executive Officer of Capital Alliance Ltd. will speak on "Investment Strategy" and Renuke Wijayawardhane, Manager, Central Depositories System (CDS) of the CSE, will introduce the Debt Securities Trading System (DEX). The panel discussion will be headed by Hiran Mendis, Director-General of the Colombo Stock exchange. |
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