FortuneFitch: APAC bank rating outlook broadly stable; downside risks exist
Fitch Ratings said yesterday the ratings Outlook for banks in the Asia-Pacific (APAC) region is Stable and reflects the ability, at the banks’ existing rating levels, to weather the weaker global economy and/or the expected ability and willingness of the respective sovereign to provide support.
Asia Pacific liquidity study shows reliance upon domestic banking systems – Fitch
Fitch Ratings’ Liquidity Study on Asia-Pacific corporates points to lower levels of liquidity than their developed market peers. Attributable reasons include the lack of committed bank facilities in some countries and the general reliance upon short-term debt.
Asians need to secure pension systems: OECD
In Asia, the number of people in western-style pension plans in many countries is very low, but in some countries, the pension schemes that exist are so generous they may not unaffordable in the long run, observes the Organisation for Economic Co-operation and Development, which calls for the urgent modernisation of Asia’s pension systems.
Monument unveiled to commemorate Central Bank bomb blast victims
A new monument titled ‘Arising,’ to commemorate the 41 Central Bank employees who lost their lives to the ruthless attack at Central Bank premises on 31 January 1996, was unveiled yesterday by Central Bank Governor Ajith Nivard Cabraal at the bank premises.
Mobius likes SE Asia; Myanmar one for the future
- Indonesia, Thailand, ‘high up on list’; Vietnam looks cheap
- Bottom-up manager favours oil and coal stocks, consumer firms
- Says can buy indirectly in Myanmar-related companies
BANGKOK (Reuters): Emerging market stocks in Southeast Asia, notably in Indonesia, Thailand and Vietnam, will be good bets this year, Franklin Templeton’s Mark Mobius said, adding that while Myanmar looks interesting, this may not the best time to invest there.
Arpico Finance strengthens further with three new channels
Arpico Finance Plc recently opened two new branches in Mullaitivu and Godagama and a collection centre in Minuwangoda.
Ceylinco Life pays Rs. 421 m in claims in 2011
Settles over 95% of intimated death claims
Life insurance leader Ceylinco Life said yesterday it has settled over 95% of intimated death claims in the year ended 31 December 2011, maintaining its record as the best in settlement of claims in Sri Lanka’s life insurance sector.
Lanka ORIX Finance Galle Branch transformed for enhanced service offering
The existing Galle branch of Lanka ORIX Finance PLC was recently transformed into a modern, state-of-the-art customer service facility.
The new office, occupying the first two floors of the Galle District Chamber of Commerce and Industries building, was ceremonially opened by Chief Guest LOLC Group Managing Director and CEO Kapila Jayawardena.
Ernst and Young tops Operational Risk and Regulation Consultancy rankings again
Regulatory pressure mounted further over the course of 2011 – bad news for financial services firms, but good news for the consultancies to which they turned for help. Ernst and Young topped the Operational Risk and Regulation consultancy rankings again in 2011 (http://www.risk.net/operational-risk-and-regulation/feature/2135016/orr-consultancy-rankings-2011), and the New York-based head of its global financial services risk management practice, Hank Prybylski, says it’s been a busy year.
Aviva NDB records Rs. 9.9 b consolidated Q3 revenue
Financial results of Aviva NDB Insurance demonstrated a positive growth gathering momentum in the first nine months of 2011 ending on 30 September.
Consolidated revenue amounted to Rs. 9,912 million while Gross Written Premium income of the composite business stood at Rs. 8,268 million. The latter showed a satisfactory growth of 15% over the corresponding period in the previous year.
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