Protecting investors top priority - Balendra
New Colombo Stock Exchange Chairman Krishan
Balendra said his top priority will be to protect investors through
a two- pronged method. He said that the Exchange would expeditiously
implement the Central Counter Party system and the Delivery Versus
Payment system, while encouraging more companies to list on the CSE.
The Central Counter Party system was to ensure the protection of
investors in the event of a trade default when the purchasing party
does not pay and a pool of funds will be created towards that,
Balendra told Daily News Business yesterday.
CRIB help for SMEs through new registry
Credit Information Bureau of Sri Lanka announced
the launch of its Secured Transaction Registry (STR) to encourage
prospective borrowers particularly in Small and Medium Enterprises (SME)
to seek loans from banks using movable assets as security.
Dubai to buy into Galadari
The United Arab Emirates- based Galadari family
of business magnates, has entered into an agreement with the
government of Dubai to sell 29 percent of its shareholdings in
Colombo’s Galadari Hotel for a value of Rs 2.08 billion.