Hindu ceremonies to celebrate APB’s 25th anniversary

Published : 2:36 am  September 13, 2013  |  Category: Financial Services  |  Leave a Comment  |  442 views  |  

The 25th anniversary celebrations of the Association of Professional Bankers (APB) kicked off with the holding of religious ceremonies. The Hindu religious ceremony was held recently at the Nallur Kandaswamy Temple in Jaffna amongst a gathering of key officials of the APB and senior bankers in Jaffna. This was followed by other religious ceremonies in Colombo. In keeping with the policies and objectives of the association to update the knowledge and skills of the young bankers in the provinces a series of events were held in Jaffna in connection with the anniversary celebrations. To encourage bankers to update their banking knowledge an inter bank quiz competition was held at the new HNB Auditorium... 


NDB in vigorous expansion; opens 74th branch in Nikaweratiya

Published : 12:00 am  September 12, 2013  |  Category: Financial Services  |  Leave a Comment  |  1,333 views  |  

NDB opened its latest branch in Nikaweratiya in a bid to support the economic and livelihood development in the area. With this opening, NDB branch network has now expanded to 74, signalling a steady continuation of the bank’s aggressive expansion strategy. Nikaweratiya is nourished by a rich agrarian economy thriving on an opulent produce of rice. While farming remains the key livelihood of its people; the growing industrial and commercial activity in the area indicates potential for increased entrepreneurial ventures and rapid economic growth. With the opening of its latest branch, NDB opened its doors to the aspiring entrepreneurs and businessmen in Nikaweratiya to benefit from the many... 


LOFC branch in Ratnapura relocated to spacious new home

Published : 12:00 am  September 12, 2013  |  Category: Financial Services  |  Leave a Comment  |  11,634 views  |  

Lanka ORIX Finance PLC (LOFC) relocated its branch in Ratnapura to modern and spacious premises at No. 240, Colombo Road, Ratnapura. This new branch was upgraded and relocated for greater customer convenience and its modern interior was designed to offer a superior service. A region renowned for gem mining and precious natural resources, Ratnapura and its surrounding areas have been a strategic location in LOFC’s islandwide footprint. An official ceremony was held to commemorate this significant event at which de Zylva, Managing Director/CEO of LOFC attended as Chief Guest and declared the new office open for business. Ashan Nissanka, General Manager/Chief Officer – Branch Network; Rohana... 


EU Parliament and ECB reach compromise on bank supervision

Published : 12:00 am  September 12, 2013  |  Category: Financial Services  |  Leave a Comment  |  730 views  |  

Reuters: The European Parliament and the European Central Bank have resolved a dispute over the new financial supervisor, paving the way for EU lawmakers to sign off on new rules allowing the ECB to supervise banks next year. Earlier, lawmakers warned that they could delay their approval for granting the ECB the power to police euro zone banks, presenting an embarrassing potential hitch for one of the bloc’s flagship reforms. The threat was made as the European Union’s legislature, led by its president Martin Schulz, demanded that the ECB be more accountable to EU lawmakers in its new role, a push that is being resisted by ECB President Mario Draghi, members of parliament say. But late on... 


Rupee extends gains; up 5.8% in five sessions

Published : 12:00 am  September 12, 2013  |  Category: Financial Services  |  Leave a Comment  |  1 views  |  

REUTERS: The rupee rose to a three-week high on Wednesday, extending gains for a fifth session, with corporates selling the dollar as the Indian currency continued its recovery. The rupee’s sharp recovery has been aided by the easing of geopolitical concerns, with an attack on Syria appearing less imminent, and the announcement of a series of steps to attract inflows by the new Central Bank Governor, Raghuram Rajan. Dealers cited large dollar inflows from a private petrochemical company as well as some likely dollar selling related to Mylan Inc’s $ 1.6 billion deal to acquire a unit of Strides Arcolab Ltd. Foreign institutional investors (FIIs) bought $ 421.15 million worth of shares on Tuesday,... 


Melsta Regal Finance commences business in Kurunegala

Published : 12:00 am  September 12, 2013  |  Category: Financial Services  |  Leave a Comment  |  915 views  |  

Melsta Regal Finance Ltd. (MRFL), a subsidiary of the Distilleries Company launched in October 2012, opened its first branch in Kurunegala on 31 August 2013. The branch office was declared open by the Group Chairman Deshamanya Harry Jayawardena and MRFL Chairman Amitha Gooneratne, in the presence of MRFL officers and dignitaries from the area. Melsta Regal is backed by a group with a history of financial stability spanning over a century, with diversified business interests that further strengthen its financial stability. Furthermore, MRFL was also rated A+lka by Fitch Ratings Lanka Ltd. in its first year of operation. “We are giving a unique service to our customers and we assure them that... 


Weekly weighted averages steady for a third consecutive week

Published : 12:00 am  September 12, 2013  |  Category: Financial Services  |  Leave a Comment  |  455 views  |  

By Wealth Trust Securities The total accepted amount at yesterday’s weekly Treasury bill auction was Rs. 1.3 billion higher than its last week’s total accepted amount of Rs. 2.7 b as weighted averages (WAvg) remained steady on the 91 day and 182 day bills at 8.61% and 9.64% respectively while the 364 day reflected an increase of one bp to 10.57%. Meanwhile in secondary bond markets, yields closed the day steady yesterday mainly on the liquid two five-year maturities (i.e. 1 April 2018 and 15 August 2018) at levels of 11.97/99 and 12.02/05 respectively subsequent to hitting intraday lows of 11.95% and 12% prior to the release of the auction results and highs of 11.98% and 12.03% post auction. Furthermore,... 


Fitch affirms MCSL Financial Services rating

Published : 12:03 am  September 11, 2013  |  Category: Financial Services  |  Leave a Comment  |  525 views  |  

Fitch Ratings Lanka has upgraded Sri Lanka-based Ceylease Ltd.’s (CL) National Long-Term Rating to ‘BBB(lka)’ from ‘BB+(lka)’, removed it from Rating Watch Positive and withdrawn the rating as the company no longer exists. This follows the announcement of the merger between MCSL Financial Services Ltd. (MFSL) and CL, both subsidiaries of Bank of Ceylon (BOC; ‘AA+(lka)’/Stable) on 22 August 2013 The agency has also affirmed the National Long-Term Rating of the surviving entity, MFSL, at ‘BBB(lka)’ with a Stable Outlook, which is based solely on strong expectations of support from parent BOC, in case of need. Key Rating Drivers CL’s upgrade prior to withdrawal was to equalise... 


Jathika Viyavasayaka Athwela entrepreneurship development training program from Lankaputhra Development Bank

Published : 12:02 am  September 11, 2013  |  Category: Financial Services  |  Leave a Comment  |  322 views  |  

Jathika Viyavasayaka Athwela training program was held in Chilaw recently with the objective of enhancing the business management knowledge of small and medium sized entrepreneurs. The training program was held at the Chilaw City Hotel for one day for thirty micro, small and medium scale entrepreneurs who are customers of Lankaputhra Development Bank. Entrepreneurs engaged in   self employment projects in agriculture, fresh water fishing, home gardening, were selected for this training program. Micro, Small and Medium entrepreneurs encounter many difficulties when doing business and this training program was launched as a long term solution by the Lankaputhra Development Bank. The program will... 


Secondary bond market activity picks up ahead of weekly auction

Published : 12:01 am  September 11, 2013  |  Category: Financial Services  |  Leave a Comment  |  259 views  |  

By Wealth Trust Securities Activity in secondary bond markets picked up yesterday mainly on short tenure bills, the two-year and five-year bond maturities ahead of today’s weekly Treasury bill auction. At today’s auction, the Public Debt Department (PDD) of Central Bank reduced the total amount on offer to Rs. 8 billion against its previous weeks offered amount of Rs. 9 b with Rs. 1 b each on the 91 day and 182 day maturities and Rs. 6 b on the 364-day maturity. At last week’s auction, weighted averages remained unchanged against its previous week’s levels for the first time in 28 weeks at 8.61%, 9.64% and 10.56% respectively. In secondary bond markets, activity was witnessed on the liquid... 


Page 229 of 682« First...102030...227228229230231...240250260...Last »