Sri Lankans buy more shares in 2009

  • 2 Jan 2010 02:15:11 GMT

    Third, more research on, and subsidies for, clean energy. The wishful thinking, or reasoned optimism, may be starting here, but Western governments may at last realize that that the UN-style approach to global warming is doomed to failure. A focus on domestic priorities would lead to more determined public efforts to encourage research in lower-carbon sources of energy, lowering their costs and making them more competitive.

    Fourth, deterrence could achieve what diplomacy could not. The mere prospect of a carbon tax on imports, which the European Union is currently debating, might help concentrate Chinese minds. The World Trade Organization has hinted such a levy would not necessarily run counter to its rules. To forestall this sort of virtuous tariff, China might come forward with serious proposals to curb its own carbon emissions.

    Finally, carbon prices should rise again. True, they took a hit after the failure of the Copenhagen conference to achieve much in the way of international co-operation. But steps being taken in several major countries will ultimately help make carbon more expensive on the exchanges where emission rights are traded: for example the US cap-and-trade bill, coupled with the Obama administration s intention to consider carbon emissions as health hazard, the British government s energy efficiency scheme or France s domestic carbon tax.

    While these trends could make for a greener year ahead, worrying signals are accumulating for the longer term. If the IEA is to be believed, without major policy changes the world is on path for a temperature rise of up to six degrees Celsius, far above the stated international goal of limiting the rise to two degrees Celsius.

    Growth will resume, pushing energy demand 40 percent higher in 2030 than in 2007, with non-industrialised counties accounting for 90 percent of that increase. Demand for coal - driven by emerging countries growing needs - will rise faster than for other energy sources.

    At the same time, the financial crisis has depressed energy investment, whether in oil and gas upstream production, or power plants.

    In other words, by 2030, the world could face the absurd situation of having to cope both with global warming and energy shortages. Green will only prevail if the world s major powers take the Copenhagen dud as a call to arms.

  • 2 Jan 2010 02:25:01 GMT

    Lol ,,,, dumb a55es .. it was one family who bought all the shares

  • 2 Jan 2010 02:32:27 GMT

    :) LOL @ Saradial

  • 2 Jan 2010 02:34:44 GMT

    CSE to reposition Sri Lanka as an emerging market in Asia

    Investors in rural areas targeted:

    This year will be very challenging as the Colombo Stock Exchange (CSE) will strive to structure and reposition the country as an emerging market in Asia, Securities and Exchange Commission (SEC) Director General, Channa de Silva told Daily News Business.

    He said that there was a possibility of introducing new areas such as dual listing and listing of foreign companies in the CSE. It is important to have a more inclusive set of investors to join the CSE, especially from rural areas, outside Colombo and those who have not invested in the CSE. Therefore, the CSE could be considered as an alternative investment vehicle.

    The participation of those in rural areas in stock market activities is very low and one of the objectives of the CSE this year is to increase their participation and to support local entrepreneurs to get listed while introducing a novel investment instrument in the CSE, de Silva said.

    It is vital to increase the demand and the supply chain of the CSE. From the institutional standpoint it is essential to have pension funds, Employees Trust Funds, Employees Provident Funds, retirement savings and insurance companies investing in the CSE to increase the demand.

  • 2 Jan 2010 02:35:43 GMT

    More local entrepreneurs, new companies and new investment instruments, exchange traded funds, real estate investments and derivatives should enter the market to increase the supply chain this year, he said.

    The Director General said that the CSE is an alternative way to invest. More SMEs, insurance companies and financial companies entering the market is timely since it will create opportunities to raise funds.

    This will also create much interest in the stock market with the new market players. The CSE hopes that these activities will encourage people to invest in the CSE, as it is the lead indicator of the economy.

    The movement of the stock market will be thoroughly scrutinized by the fund managers and investors especially when they make new allocations this year. The CSE will gain significantly as it is destined to do so this year.

    Sri Lanka s stock market activities are still in the early stage of development and it is vital to change the savings mindset of people as the stock market offers higher returns on their investments, he said.

    He said that corporate governance is necessary when moving into different levels of business to create a degree within the companies and be more accountable for their shareholders and to increase the transparency of the company. Therefore, corporate governance is compulsory for all listed companies in the CSE.

    The SEC has plans to conduct a few road shows in East Asia and in Western countries to attract more foreign investors to the market. The target of these road shows is to attract foreign funds and the Sri Lankan diaspora into the country s capital market. The CSE, being in the forefront of the economy is optimistic about the year ahead and is confident that this momentum will continue, de Silva said.