Financial Services

Investors bullish on Asian currencies as trade worries fade

Views - 28 Friday, 24 January 2020 00:00

Reuters: Investors took long positions in all Asian currencies for the first time since June 2017 as an initial trade truce between the United States and China revived appetite for riskier assets. Long bets on the high-yielding Indonesian rupiah ros

At $ 3 trillion, last decade most expensive for natural disasters

Views - 20 Friday, 24 January 2020 00:00

LONDON (Reuters): The last decade was the worst on record for economic losses from natural disasters, amounting to $3 trillion – over a trillion more than the previous decade, insurance broker Aon said on Wednesday. The Asia-Pacific region was the

Colombo Chamber of Commerce appeals to President to include finance companies for debt moratorium

Views - 305 Friday, 24 January 2020 00:00

The Colombo Chamber of Commerce wishes to express its gratitude to Gotabaya Rajapaksa, the dynamic President of Sri Lanka who has the vision and mission to create a new Sri Lanka to benefit the common man has taken a very bold, very positive and focu

Colombo stock market’s positive momentum persists

Views - 56 Friday, 24 January 2020 00:00

The Colombo stock market’s positive momentum continued for the third consecutive day infusing fresh confidence to investors. Acuity Stockbrokers said the Bourse ended on a positive note as the ASPI increased by 0.73% or 43.08 points to close at 5,

Secondary bond market yields continue to remain broadly steady

Views - 59 Friday, 24 January 2020 00:00

By Wealth Trust Securities The secondary bond market yields continued to remain broadly steady yesterday as momentum turned bearish. Limited trades of the 01.09.23, 2024s (i.e. 15.03.24, 15.06.24 and 15.09.24) and 15.06.27 maturities took place at le

Insurers look to curb ransomware exposure as US cyber rates rise

Views - 18 Friday, 24 January 2020 00:00

Reuters: US insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of hackers using malicious pr

NDB opens 113th branch in Hikkaduwa

Views - 22 Friday, 24 January 2020 00:00

NDB recently opened its latest branch at Hikkaduwa in a bid to support the economic and livelihood development in the Southern Region. Accordingly, the NDB branch network has now grown to a total of 113 branches signaling a steady continuation of th

First Capital Treasuries announces Rs. 750 m Debenture Issue

Views - 39 Friday, 24 January 2020 00:00

First Capital Treasuries PLC, the Primary Dealer arm and a subsidiary of First Capital Holdings PLC (the Group), has announced that it intends to issue Listed, Rated, Subordinated, Unsecured, Redeemable Debentures with a principal value of Rs. 750 mi

Dr. Lawrence Perera speaks on ’Unleashing the Entrepreneur in You’ at SLIC

Views - 17 Friday, 24 January 2020 00:00

Micro Holdings Group Chairman Deshamanya Dr. Lawrence Perera was recently invited as Guest Speaker to address the senior management and staff of SLIC as part of the company’s ongoing professional development initiatives. Delivering his lecture on t

Finance as a catalyst for positive change

Views - 22 Friday, 24 January 2020 00:00

The fundamental role the financial sector plays in helping secure the objectives set out in the UN Sustainable Development Goals (SDGs) was made clear at the opening of the SDG tent on Tuesday in Davos during the World Economic Forum. For the first

Acclivity to host workshop on ‘New Trends and Best Practices in Budgeting 2020’

Views - 16 Friday, 24 January 2020 00:00

Budgeting and planning now needs to be real-time, collaborative and inclusive of both financial and non-financial data. The trend towards incorporating modern day tools and best practices such as algorithms, machine learning, and deep dive analytics

SLIBA celebrates 32 years as main body of insurance broking professionals in Sri Lanka

Views - 134 Thursday, 23 January 2020 00:37

The Sri Lanka Insurance Brokers Association (SLIBA) celebrated 32 years as the main body of insurance broking professionals in the country recently. Since its formation in 1987 SLIBA has been a driving force in the insurance industry and its senior o

Amãna Bank Self Banking Centre now in Kalubowila

Views - 24 Thursday, 23 January 2020 00:36

Amãna Bank recently opened its 18th Self Banking Centre at Kalubowila to further its reach and facilitate its customers with around the clock real-time cash deposits. The new Self Banking Centre, located at No. 108, Kalubowila Road was opened by the

HNBA opens doors of 61st branch in Tangalle

Views - 44 Thursday, 23 January 2020 00:35

HNB Assurance PLC (HNBA) opened doors of its 61st branch in Tangalle recently. This state-of-the-art facility offers a full spectrum of life insurance solutions for every walk of life. This momentous occasion was graced by the presence of HNBA’s se

Madusanka appointed CEO of People’s Merchant Finance

Views - 67 Thursday, 23 January 2020 00:34

K.R.P. Madusanka has been appointed as the new CEO of People’s Merchant Finance Plc. He was appointed as a Non-Executive, Non-Independent Director in June last year. Previously he was the Chief Financial Officer of Sterling Automobiles Lanka Ltd. H

ComBank launches ‘Vibe’ – an exclusive Savings Account for youth

Views - 38 Thursday, 23 January 2020 00:24

The Commercial Bank of Ceylon has launched a new and a unique Savings Account designed exclusively to support the youth at one of the most decisive phases of life with special benefits that can help advance their aspirations, and to also reward achie

Sampath Bank moves Narammala Branch to new location

Views - 26 Thursday, 23 January 2020 00:24

Sampath Bank relocated its Narammala Branch to a more spacious and accessible premises located at No. 140, Negombo Road, Narammala recently. The branch is geared to offer Sampath Bank customers in and around Narammala a world of state-of-the-art ban

Stock market stays positive for second consecutive day

Views - 34 Thursday, 23 January 2020 00:00

The Colombo stock market remained on the up for the second consecutive day on improved turnover and investor participation. Acuity Stockbrokers said the Bourse ended on a positive note today as the ASPI increased by 0.46% or 27.09 points to close at

New SEC Chairman assumes duties

Views - 67 Thursday, 23 January 2020 00:00

Viraj Dayaratne PC yesterday assumed duties as the Chairman of the Securities and Exchange Commission of Sri Lanka (SEC). The SEC said Dayaratne had been released by the Public Service Commission Sri Lanka (PSC) from the Attorney General’s Departme

Upward momentum in weekly T-Bill weighted averages continues

Views - 65 Thursday, 23 January 2020 00:00

By Wealth Trust Securities The weekly Treasury bill weighted average yields were seen continuing their upward momentum at the auction conducted yesterday as its total bids accepted to total bids received ratio decreased further to 0.41:1. The weight

DFCC Bank opens refurbished Contact Centre in Malabe to strengthen customer service experience

Views - 58 Wednesday, 22 January 2020 02:07

DFCC Bank PLC, Sri Lanka’s fully-fledged, dynamic commercial bank recently opened its doors to a state-of-the-art call centre in the bustling suburb of Malabe. This Contact Centre can have over 100 dedicated agents capable of engaging with custome

Siyapatha Finance relocates Nugegoda branch

Views - 37 Wednesday, 22 January 2020 02:06

Siyapatha Finance relocated its Nugegoda branch to No. 181 – 1/1 Stanley Thilakarathne Mawatha recently. The new location ensures easier access for customers while enabling the Siyapatha team with more opportunity to better serve them. Siyapatha F

Special ‘7 Year Leasing’ only from Pan Asia Bank

Views - 44 Wednesday, 22 January 2020 02:05

Pan Asia Bank, which has earned a strong reputation for its novel leasing solutions, has introduced ‘7 Year Leasing’ yet another novel leasing option that offers unique benefits to customers. ‘7 Year Leasing’ is specially designed to make cus

Apple’s Cook says global corporate tax system must be overhauled

Views - 27 Wednesday, 22 January 2020 02:03

DUBLIN (Reuters): Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration. The growth of internet giants such as

Bond yields decrease marginally ahead of weekly bills auction

Views - 65 Wednesday, 22 January 2020 02:02

By Wealth Trust Securities The secondary bond market yields were seen decreasing marginally yesterday ahead of today’s weekly Treasury bill auction. Buying interest on the 2023’s (i.e. 01.09.23 & 15.12.23) and 2024’s (i.e.15.06.24 & 15.09.24) s

Stock market turns positive but turnover low

Views - 36 Wednesday, 22 January 2020 02:01

The Colombo stock market turned positive yesterday though turnover remained low and foreigners continued to sell. Acuity Stockbrokers said that the Bourse ended on a positive note as the ASPI increased by 0.14% or 8.13 points to close at 5,914.33 po

Wall Street rally pauses amid China virus outbreak, growth fears

Views - 21 Wednesday, 22 January 2020 02:01

Reuters: US stock indexes slipped on Tuesday as worries about the fallout from a deadly virus outbreak in China and a gloomy growth outlook from the IMF paused a record-setting rally on Wall Street. The developments soured the mood for US investors r

Speaker to announce final decision on release of CB forensic audit reports today

Views - 131 Tuesday, 21 January 2020 00:00

Speaker Karu Jayasuriya will announce his decision today on the release of the forensic audit reports prepared as part of the investigation into the Central Bank bond scam, officials sources said. Both Government and Opposition MPs have urged the Spe

Seylan Bank enables multicurrency transactions for LEADS

Views - 180 Tuesday, 21 January 2020 00:00

With a mission to empower and foster the growing financial needs in the country for charitable organisations, Seylan Bank joined hands with LEADS to enable multicurrency donation acceptance for the first time in Sri Lanka.  This partnership will ena

Zarook new Chairman at Insurance Regulatory Commission

Views - 532 Tuesday, 21 January 2020 00:00

Senior Attorney-at-Law and President’s Counsel, former diplomat Razik Zarook has been appointed as the Chairman of the Insurance Regulatory Commission of Sri Lanka. Previously he had served several State institutions including as Chairman of Bank

Today's Columnists

Forensic Audits part of bond scam cover-up

Saturday, 25 January 2020

From the time the bond scam was carried out by the Ranil Wickremesinghe administration, that administration under the guidance of the former Prime Minister had been avoiding the law by regularly bringing up various distractions so that the true natur

Halting mega projects is untimely; Govt. can explore other options

Friday, 24 January 2020

In a Sunday newspaper on 5 January a news item titled ‘Mega projects on hold until August budget,’ ‘Drop in revenue after tax reductions prevents spending on major constructions,’ was not a development-friendly headline. It may be accurate o

Is any further expenditure on the Port City a waste of money?

Friday, 24 January 2020

Erase from the mind all that you have read and heard about it. Then take a blank piece of paper, draw an irregular circle, and draw a line to divide it into two. On the bottom half write 300 acres. That is our Port City! To get the size into a proper

Foundations of incivility

Friday, 24 January 2020

The lack of advanced political consciousness and democratic discipline can be considered as one of the main reasons for the crisis and the failure that Sri Lanka is facing. This can be considered a situation that has prevailed since independence. Sri

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