Financial Services

Rupee ends weaker; stocks slip to near 5-year closing low

Views - 72 Friday, 19 October 2018 00:00

Reuters: The rupee ended weaker on Wednesday as banks and importers bought the US dollar while stocks edged lower to end near a five-year closing low. The Central Bank on Wednesday said it has secured a $ 1 billion eight-year loan from China Developm


HNB strengthens employee value with attractive benefits to staff from collective agreement 2018-21

Views - 87 Friday, 19 October 2018 00:00

Sri Lanka’s premier private sector commercial bank, HNB PLC held a formal ceremony to mark its entering into a new collective agreement with the Ceylon Bank Employees Union and the HNB PLC Officers’ Union for the period of 2018-21. Collective agr


Fitch publishes Cargills Bank’s first-time ‘BB(lka)’ Rating; Outlook Stable

Views - 85 Friday, 19 October 2018 00:00

Fitch has published Sri Lanka-based Cargills Bank Ltd.’s (CBL) National Long-Term Rating of ‘BB(lka)’ with a Stable Outlook. Key rating drivers: National ratings CBL’s rating reflects its small and developing domestic franchise, evolving b


Ravi Abeysuriya appointed to Seylan Bank Board

Views - 84 Friday, 19 October 2018 00:00

Ravi Abeysuriya has been appointed to the Seylan Bank Board as an Independent Director from 17 October. Abeysuriya is the Group Director of the Candor Group, owned by National Industries Group (NIG), one of the largest listed companies in Kuwait with


Fitch affirms Standard Chartered Bank, Sri Lanka branch at ‘AAA(lka)’; Outlook Stable

Views - 39 Friday, 19 October 2018 00:00

Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. Key rating drivers: National ratings SCBSL’s rating is at the highest end on the National R


Bond yields broadly steady in thin trade

Views - 47 Friday, 19 October 2018 00:00

By Wealth Trust Securities The secondary bond market yields were seen fluctuating yesterday as selling interest during morning hours of trading saw the yield on the five-year maturity of 15.07.23 increase to an intraday high of 11.59% against its pre


Insurers call for delay in prising open ‘black box’ accounts

Views - 47 Friday, 19 October 2018 00:00

LONDON (Reuters): Insurers from across the world have called for amendments and a two-year delay to a change in accounting rules aimed at increasing visibility of how they earn their money. Nine national and regional insurance industry bodies from Eu


Dollar at one week high after hawkish Fed minutes; Asia stocks capped

Views - 18 Friday, 19 October 2018 00:00

TOKYO (Reuters): Asian stocks were capped and the dollar rose to a one week-high in early Thursday trade after the minutes of the Federal Reserve’s latest meeting showed broad agreement among board members on the need to raise borrowing costs furth


Trump widens Fed critique, calls it ‘my biggest threat’

Views - 10 Friday, 19 October 2018 00:00

WASHINGTON (Reuters): US President Donald Trump heaped more criticism on the Federal Reserve in an interview with Fox Business Network on Tuesday, extending his discontent beyond its chairman, Jerome Powell, whom he has frequently critiqued in public


Despite Trump criticism, Fed sees need for more rate hikes

Views - 12 Friday, 19 October 2018 00:00

(Reuters): Federal Reserve policymakers are largely united on the need to raise borrowing costs further, minutes from their most recent policy meeting show, despite US President Donald Trump’s view that interest rate hikes have already gone too far


Long-term investing is the key to sustainable returns

Views - 41 Friday, 19 October 2018 00:00

In our childhood, we learn some life skills which we never really forget - skills such as riding a bicycle or swimming. But how often do we learn at a young age how to save and invest and plan our finances for ourselves and our loved ones? Yet certai


ADB President, IFC CEO discuss future collaboration in region

Views - 9 Friday, 19 October 2018 00:00

MANILA, PHILIPPINES: Asian Development Bank (ADB) President Takehiko Nakao and International Finance Corporation (IFC) Chief Executive Officer (CEO) Philippe Le Houérou this week met at ADB headquarters together with senior staff of both institution


Rupee ends weaker; stocks slip to near 5-year closing low

Views - 88 Thursday, 18 October 2018 00:49

Reuters: The rupee ended weaker on Wednesday as banks and importers bought the US dollar while stocks edged lower to end near a five-year closing low. The Central Bank on Wednesday said it has secured a $ 1 billion eight-year loan from China Developm


Weekly weighted averages continue to increase

Views - 62 Thursday, 18 October 2018 00:48

By Wealth Trust Securities The weekly Treasury bill weighted averages continued to increase at its auction conducted yesterday. The market favourite 364 day maturity recorded the sharpest increase of 25 basis points to 10.44% followed by the 91 day


Vallibel Finance opens City Office at Bambalapitiya

Views - 38 Thursday, 18 October 2018 00:47

Blazing a new trail as Sri Lanka’s most respected finance company, Vallibel Finance unveiled its latestcity officein the heartof Bambalapitiyarecently. Customers will now have quick access to Vallibel’s renowned brand of financial services in the


ComBank declared ‘Green Company of the Year’ at 2018 ACES Awards

Views - 26 Thursday, 18 October 2018 00:47

The Commercial Bank of Ceylon was declared the winner of the ‘Green Company of the Year’ title at the 2018 Asia Corporate Excellence and Sustainability (ACES) Awards that honour the region’s finest and most responsible corporate leaders. The pr


Sampath Bank unveils Personal Foreign Currency Accounts

Views - 57 Thursday, 18 October 2018 00:44

Sampath Bank unveiled Personal Foreign Currency (PFC) Accounts with the fastest on-boarding process for foreign currency accounts in the country. This is part of the bank’s continued efforts to leverage technology to deliver greater value and conve


Asia Securities expands investment banking capabilities through merger with YSP Advisors

Views - 81 Thursday, 18 October 2018 00:00

Asia Securities Holdings Ltd. announced the completion of its merger with YSP Advisors Ltd., combining the capabilities of each firm to offer clients best-in-class investment banking services. The merger will create a team with an unparalleled track


NDB awarded ‘Best Bank in Sri Lanka 2018’ by Global Finance at IMF/WB Summit in Bali

Views - 29 Thursday, 18 October 2018 00:00

The National Development Bank PLC was presented with the ‘Best Bank in Sri Lanka’ award by the prestigious Global Finance Magazine at the 25th Annual Best Bank Awards. The award was accepted by the bank’s Group CEO Dimantha Seneviratne at the a


Investors gloomiest on world growth in decade, cut US equity holdings: BAML poll

Views - 49 Wednesday, 17 October 2018 00:00

LONDON (Reuters): Global investors have the most pessimistic outlook on the world economy since the 2008 financial crisis, according to Bank of America Merrill Lynch’s monthly survey, which also showed a sharp fall in US equity allocations. The sur


Stocks edge up from near 5-year low; rupee ends weaker

Views - 59 Wednesday, 17 October 2018 00:00

Reuters: The rupee ended 0.2% weaker on Tuesday as banks and importers bought the dollar while stocks ended a five-session losing streak, pulling away from previous session’s near five-year closing low. The rupee ended at 170.90/171.10 per dollar,


Bond yields increase marginally ahead of weekly bill auction

Views - 65 Wednesday, 17 October 2018 00:00

By Wealth Trust Securities The secondary bond market yields were seen increasing marginally yesterday with the liquid maturities of 01.03.21, 15.10.21 and 15.07.23 hitting intraday highs of 11.36%, 11.43% and 11.75% respectively against its previous


Dollar rises on firmer US yields; yuan struggles

Views - 36 Wednesday, 17 October 2018 00:00

LONDON (Reuters) - The dollar edged higher on Tuesday as firmer U.S. Treasury yields encouraged investors to buy the greenback after a recent drop with investors growing more bullish about its short-term outlook, especially against emerging market cu


Southeast Asian stocks most settle higher as Saudi tensions ease

Views - 21 Wednesday, 17 October 2018 00:00

Reuters: Most Southeast Asian stock markets rose on Tuesday after reports said Saudi Arabia was preparing to acknowledge the death of a Saudi journalist in a botched interrogation, easing tensions between the oil-rich kingdom and the Western world. M


Gold steady as softer dollar offsets improving risk appetite

Views - 22 Wednesday, 17 October 2018 00:00

BENGALURU (Reuters): Gold held firm near 2-1/2-month highs on Tuesday as dollar weakness offset improved risk appetite among investors, reflected in recovering global stock markets. Spot gold was up 0.1% at $ 1,228.21 per ounce by 1:12 p.m. EDT (1712


Internationally acclaimed City & Guilds certifications for AIA Insurance’s trainers

Views - 26 Wednesday, 17 October 2018 00:00

AIA Insurance presented certificates to its trainers who had completed the ‘Train the Trainer’ program, which leads to a City & Guilds (UK) Diploma and Advanced Diploma level with international delivery standards. City & Guilds is the global lea


SDB Uththamavi to fill credit gap in female entrepreneurship segment

Views - 48 Wednesday, 17 October 2018 00:00

Women constitute just over half of Sri Lanka’s population and make a sizeable contribution to the national economy. According to the 2014 census, much of this contribution comes in the form of female entrepreneurship, with over 25% of all micro, sm


Young entrepreneur from east rises high with ‘Enterprise Sri Lanka – BOC Thurunu Diriya’

Views - 142 Wednesday, 17 October 2018 00:00

Every businessman starts his/her business with a dream of making his business a success in the future. But the path to success is not without obstacles. The ‘Thurunu Diriya’ loan scheme of the Bank of Ceylon (BOC) has opened up a great opportunit


‘Enterprise Sri Lanka – BOC Thurunu Diriya’ disburses over 180 loans island-wide

Views - 18 Wednesday, 17 October 2018 00:00

The ‘Enterprise Sri Lanka – BOC Thurunu Diriya’ loan scheme has disbursed 182 loans for young entrepreneurs islandwide up to date, the Policy Development Office said in a statement. This was revealed at the weekly progress report of implementin


Kanchana Hewavitharana appointed as COO for HSBC Sri Lanka and Maldives

Views - 168 Tuesday, 16 October 2018 00:23

HSBC has appointed Kanchana Hewavitharana as Chief Operating Officer for Sri Lanka and Maldives, effective September 2018. He succeeds Sriyan Cooray, who retired from HSBC in May, having served within the HSBC Group since 1990. Prior to taking on his


Today's Columnists

Challenges in preserving and promoting Pakistan’s Buddhist past

Saturday, 20 October 2018

The international media has been portraying Pakistan as a hotbed of Islamic fundamentalism, especially after the Americans carried out a surgical strike there to kill international terrorist and fugitive, Osama bin Laden.


Government’s cohabitation stuck in the past or what?

Friday, 19 October 2018

The appointment of career judge Nalin Perera as the new Chief Justice, who has served in the judiciary for over 30 years, provides a snapshot into President Maithripala Sirisena’s thought process, amidst various stories of clashes with his coalitio


Profit before principle: Khashoggi and US-Saudi relations

Friday, 19 October 2018

The mysterious disappearance of a Saudi journalist, Jamal Khashoggi, from inside the Saudi Embassy complex in Turkey on 2 October and an array of circumstantial evidence surrounding his disappearance lead one to suspect that Jamal was possibly abduct


When shame and honour take the hypocritical centre stage

Friday, 19 October 2018

As human beings, we experience a gamut of emotions. These help individuals to express themselves, and authorities to exercise control over entire societies. The most common feelings engendered by our race span a spectrum from guilt and shame to fear.


Columnists More