Online Shopping
Shopping on the Internet can be economical and convenient. Shopping on the Internet is no less safe than shopping in a store or by mail. To help ensure that your online shopping experience is a safe one:
• Know who you’re dealing with. Confirm the online seller’s physical address and phone number in case you have questions or problems.
• Know exactly what you’re buying. Read the seller’s description of the product closely, especially the fine print.
• Know what it will cost. Factor shipping and handling — along with your needs and budget — into the total cost of the order.
• Pay by credit or charge card, for maximum consumer protections.
• Check out the terms of the deal, like refund policies and delivery dates.
• Print and save records of your online transactions.
Shopping online offers lots of benefits that you won’t find shopping in a store or by mail. The Internet is always open — seven days a week, 24 hours a day — and bargains can be numerous online. With a click of a mouse, you can buy an airline ticket, book a hotel, send flowers to a friend, or purchase your favorite fashions. But sizing up your finds on the Internet is a little different from checking out items at the mall.
If you’re buying items from an online retailer or auction website, OnGuard Online offers this advice to help you make the most of your shopping experience:
• Know who you’re dealing with. Anyone can set up shop online under almost any name. Confirm the online seller’s physical address and phone number in case you have questions or problems. If you get an email or pop-up message while you’re browsing that asks for financial information, don’t reply or click on the link in the message. Legitimate companies don’t ask for this information via email.
• Know exactly what you’re buying. Read the seller’s description of the product closely, especially the fine print. Words like “refurbished,” “vintage,” or “close-out” may indicate that the product is in less-than-mint condition, while name-brand items with “too good to be true” prices could be counterfeits.
• Know what it will cost. Check out websites that offer price comparisons and then, compare “apples to apples.” Factor shipping and handling — along with your needs and budget — into the total cost of the order. Do not send cash under any circumstances.
• Pay by credit or charge card. If you pay by credit or charge card online, your transaction will be protected by the Fair Credit Billing Act. Under this law, you have the right to dispute charges under certain circumstances and temporarily withhold payment while the creditor is investigating them. In the event of unauthorized use of your credit or charge card, you generally would be held liable only for the first $50 in charges. Some companies offer an online shopping guarantee that ensures you will not be held responsible for any unauthorized charges made online, and some cards may provide additional warranty, return, and/or purchase protection benefits.
• Check out the terms of the deal, like refund policies and delivery dates. Can you return the item for a full refund if you’re not satisfied? If you return it, find out who pays the shipping costs or restocking fees, and when you will receive your order. A Federal Trade Commission (FTC) rule requires sellers to ship items as promised or within 30 days after the order date if no specific date is promised.
• Keep a paper trail. Print and save records of your online transactions, including the product description and price, the online receipt, and copies of every email you send or receive from the seller. Read your credit card statements as you receive them and be on the lookout for unauthorized charges.
• Don’t email your financial information. Email is not a secure method of transmitting financial information like your credit card, checking account, or Social Security number. If you initiate a transaction and want to provide your financial information through an organization’s website, look for indicators that the site is secure, like a lock icon on the browser’s status bar or a URL for a website that begins “https:” (the “s” stands for “secure”). Unfortunately, no indicator is foolproof; some fraudulent sites have forged security icons.
Stock Exchange
Stock Market
You are reading about the Sri Lanka Stock Market
Colombo Stock Exchange
The Colombo Stock Exchange (CSE) is the only Stock Exchange in Sri Lanka. There are 243 companies listed on the Exchange. Quotations have been granted to 247 equities and 36 Debt Securities as at 30th June2002. Companies can seek a listing either on the Main Board or the Second Board of the Exchange to list debt or equity. The Listing Rules have been structured to offer maximum flexibility to companies to raise debt and equity. Listed companies are subject to a set of continuing listing requirements, which have been designed to secure the confidence of investors by ensuring that companies will provide sufficient information to enable investors to form a reliable basis for making informed investment decisions. Companies that do not adhere to continuing listings requirements are transferred to the Default Board.
The CSE is a member of the WFE (International Federation of Exchanges). The market capitalisation of the CSE as at 30th June 2002 was Rs.144 Billion (US $ 1.4 Billion). This amounts to 10.2% GDP. Listed companies are classified into 20 sectors.
The CSE is characterized as one of a mutual exchange which operated on a not for profit basis. The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC). Presently, it has 15 institutional members, all of whom are licensed by the SEC to act as stockbrokers.
The Exchange operates an order driven market using an automated screen based trading system and an automated post trade clearing and settlement system. It has a Central Depository and trading is script less. The Central Depository System (CDS) provides facilities for the clearing and settlement of securities. The CDS is a fully owned subsidiary of the CSE. Trading takes place on all week-days (Monday to Friday) between 9.30 a.m. to 12.30 p.m.
The Colombo Stock Exchange is structured as a Self Regulatory Organisation (SRO). It is responsible for regulating Member Firms (stockbrokers) and Listed Companies. As a modern exchange, The CSE now offers state-of-the-art technological infrastructure to facilitate an "order driven trading platform" for securities trading, for shares and corporate debt securities.
Foreign investment in the stock market is freely permitted except in the case of a few companies where there are certain restrictions imposed.
There are no taxes imposed on share transactions except for a 10% withholding tax on dividends.
On-line and historical market information is available internationally and locally through data vendors and the exchange.
Member firms publish regular research reports and the CSE publishes market information on a daily, weekly, monthly, quarterly and annual basis.
Use the Following Websites to understand how advertisements are helpful in electronic business
• www.sltnet.lk
• www.cse.lk
• http://www.ashaphillip.net/home.htm
http://www.slt.lk
