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Sri Lanka PM says to question bourse over trading stoppage

Mar 24, 2016 10:21 AM GMT+0530 | 2 Comment(s)

ECONOMYNEXT - Sri Lanka's Prime Minister Ranil Wickremesinghe Colombo Stock Exchange will be questioned over a recent trading stoppage for about 20 minutes after back-up power failed at the building.

"I have instructed my ministry to call the stock exchange and investigate this matter," Prime Minister Wickremesinghe told parliament Wednesday.

"Confidence in the stock exchange has fallen internationally due to this."

He said confidence was falling quite separately from a proposed capital gains tax.

He said at any stock exchange there should be alternative equipment to keep on trading.

"Even 30 seconds can make big difference to an investor," he said.

Colombo Stock Exchange trading stopped after back-up power at the World Trade Centre building, where it is located failed, during a power cut imposed by the state-run power utility.

The CSE has a separate disaster recovery site where trading can be conducted if necessary.

However trading was re-started within 20 minutes at the main location.
 


 

2 Comments

  1. Giabao March 24, 01:05 AM

    LOL. like our FM going to resolve lovers issue by questioning security guards at independence square,he sure cannot understand what is important and what is not. Can someone please tell him it is his govt's lack of policy consistency and stupid things which makes investors lose confidence ? All are some in this govt.

  2. Dinesh March 24, 10:46 AM

    Confidence about Sri Lanka has fallen amongst international investors due to the lack of policy direction and contradicting statements made by your government

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