Financial Services

First Capital upgrades exchange rate outlook

Views - 113 Friday, 14 June 2019 00:00

First Capital has upgraded its outlook on the exchange rate given external and internal developments. As per the upgrade Exchange Rate Outlook for 2019E to $ 1: Rs. 180.0 (from 194.0) as the 65% Base Case scenario. Further, it is introducing a 12-mon

Stocks end at near 6-week high; rupee falls

Views - 52 Friday, 14 June 2019 00:00

Reuters: Sri Lankan shares rose for the fifth straight session on Thursday to end at a near six-week high on local buying, even as foreign investors continued exiting the island nation’s risky assets, while the rupee edged lower on importers’ dol

Primary Bond auction fully subscribed as yields dip

Views - 62 Friday, 14 June 2019 00:00

By Wealth Trust Securities The two Treasury bond auctions conducted yesterday, recorded impressive weighted average yields, with the total offered amount of Rs. 70 billion being fully subscribed. The two-year and four-month maturity of 15.10.2021 rec

4th CT CLSA Asia Frontier Forum concludes

Views - 101 Thursday, 13 June 2019 00:13

The fourth two-day CT CLSA Asia Frontier Forum concluded in Colombo enlightening foreign and local institutional investors with the latest assessment of macroeconomic fundamentals, Government policy and corporate earnings outlook. Despite challenges

Global stocks snap seven-day winning streak; US inflation next hurdle

Views - 27 Thursday, 13 June 2019 00:12

London (Reuters): World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while an impending reading on US inflation was set to refine the odds of an early cut in interest ra

IMF’s Lagarde highlights potential disruptive nature of fintech

Views - 40 Thursday, 13 June 2019 00:12

FUKUOKA (Reuters): International Monetary Fund Managing Director Christine Lagarde warned on Saturday that the increasing presence of technology giants using big data and artificial intelligence could cause a significant disruption to the world’s f

Spooked public investors reach fork in risky road as asset growth slows

Views - 16 Thursday, 13 June 2019 00:12

LONDON (Reuters): Global public institutions including central banks, sovereign wealth funds and public sector pension funds are increasingly worried about a worldwide economic downturn and are taking divergent investment strategies to adapt. An ann

“Perfect storm” for dollar as bets on US rate cuts grow

Views - 30 Thursday, 13 June 2019 00:11

London, Reuters: The dollar fell on Wednesday as rising trade tensions between Washington and Beijing and growing bets on a US interest rate cut sapped investor demand for the currency. Against a basket of other currencies, the dollar edged 0.1% low

Bids for 364-day bill at primary auction rejected

Views - 68 Thursday, 13 June 2019 00:07

At yesterday’s weekly Treasury bill auction, all bids that were received for the 364-day maturity were rejected, with only an amount of Rs. 17.73 billion consisting of Rs. 6.8 billion on the 91-day and Rs. 10.9 billion on the 182-day maturities bei

NDB shines at ACCA Sri Lanka Sustainability Reporting Awards as Best in the Banking Sector

Views - 50 Thursday, 13 June 2019 00:06

National Development Bank PLC (NDB Bank) emerged as the Winner – Banking Sector, at the recently concluded Sustainability Reporting Awards of ACCA Sri Lanka for the reporting year 2017/2018. This awards program, an annual endeavour of ACCA Sri Lank

Chandula to speak at Fireside Chat at Uniterra Social Impact Investing Forum in Ghana

Views - 44 Thursday, 13 June 2019 00:03

Chandula Abeywickrema, the Chairman Lanka Impact Investing Network Ltd. (LIIN), Sri Lanka’s pioneering impact investing fund and the co-founder Ath Pavura is one of the key speakers at the Uniterra Social Impact Investing Forum that would be held i

Ceylinco Life policyholder families on ‘Family Savari’ in China

Views - 17 Thursday, 13 June 2019 00:01

Ten Sri Lankan families brought together by their life insurer Ceylinco Life spent four days in China recently, courtesy of the life insurance leader’s ‘Family Savari’ mega promotion. This was the third batch of Ceylinco Life policyholder famil

Bond yields decrease ahead of weekly bill auction

Views - 69 Wednesday, 12 June 2019 00:00

By Wealth Trust Securities  The secondary bond market yields decreased marginally yesterday, consisting mainly of the liquid maturities of 15.03.22, 15.03.23, 15.03.24, 01.08.26 and 15.01.27 to lows of 9.98%, 10.18%, 10.20%, 10.55% and 10.58% respec

Pan Asia Bank introduces Customs payments through retail internet banking

Views - 36 Wednesday, 12 June 2019 00:00

Pan Asia Bank recently introduced a facility to make real-time online payments to Sri Lanka Customs through its online banking. This value addition was introduced under Sri Lanka Customs’ implementation of an online payment platform as a partnersh

Standard Chartered appoints new Head of Retail Banking

Views - 120 Wednesday, 12 June 2019 00:00

Sheahan Arasaratnam has been appointed as the Head of Retail Banking in Sri Lanka with effect from 3 June subject to regulatory approval. With over 25 years of banking experience Sheahan was previously based in Nigeria as Consultant/General Manager,

NDB Leasing Centres open at Ratnapura and Kalutara

Views - 35 Wednesday, 12 June 2019 00:00

Two new NDB Leasing Centres were ceremoniously opened at the Kalutara and Ratnapura branches by NDB Assistant Vice President Leasing Ajith Senadheera and the senior management of the bank. The two NDB Leasing Centres which are NDB’s fourth and fif

G20 agrees to wrap up Big Tech tax rules by 2020

Views - 20 Wednesday, 12 June 2019 00:00

TOKYO (Reuters): Group of 20 finance ministers agreed on Sunday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a final communique issued by the bloc showed on Sunday. Facebook,

BOC opens new branch in Laggala

Views - 29 Wednesday, 12 June 2019 00:00

The Bank of Ceylon has entered the newly built Laggala Green Town, which replaced the old town that was submerged during the Moragahakanda Kalu-Ganga reservoir project. Laggala Green Town has been constructed following new urban concepts, incorporat

ComBank crowned ‘Best Trade Finance Bank in Sri Lanka’ by Asian Banker

Views - 42 Tuesday, 11 June 2019 00:22

The Commercial Bank of Ceylon has been awarded the prestigious title of ‘Best Trade Finance Bank in Sri Lanka’ at the 2019 Asian Banker Transaction Awards that recognise achievements in the competition for market share, product and operational ex

Stocks end at 1-week peak in thin trade; rupee edges higher

Views - 49 Tuesday, 11 June 2019 00:22

Reuters: Sri Lankan shares ended firmer for the second straight session on Monday in dull trade to hit a one-week closing high, while the rupee ended slightly stronger, market sources said. The benchmark stock index ended 0.47% firmer on Monday at 5

Orient Finance: Building on strength and consistent customer trust

Views - 66 Tuesday, 11 June 2019 00:21

In a world governed by uncertainties such as economic upheavals and unpredicted downturns, building customer confidence and meeting customer expectations remain key to success in financial markets. Stability and growth have been two key factors that

HNB and ICCSL launch exclusive co-branded corporate credit cards

Views - 51 Tuesday, 11 June 2019 00:20

Sri Lanka’s most customer-friendly bank, HNB PLC announced the launch of co-branded corporate credit cards in partnership with the International Chamber of Commerce Sri Lanka (ICCSL). The new co-branded corporate credit card will be made available

SDB Pilimathalawa Branch moves to new location

Views - 40 Tuesday, 11 June 2019 00:18

SANASA Development Bank PLC’s Pilimathalawa branch relocated to its new premises on 10 June. SDB Pilimathalawa branch was shifted to No. 238, Colombo Road, Pilimathalawa with the objective of providing more convenient and efficient service to its c

CA Sri Lanka to felicitate new Commissioner General of Inland Revenue

Views - 35 Tuesday, 11 June 2019 00:17

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will felicitate the newly appointed Commissioner General of Inland Revenue Nadun Guruge at a special ceremony this week.  The customary felicitation, jointly organised with the

Bond yields increase further

Views - 70 Tuesday, 11 June 2019 00:17

By Wealth Trust Securities The secondary bond market yields were seen increasing further yesterday on the back of moderate volumes changing hands. The yields on the liquid maturities of 01.10.22, 15.03.23, 15.03.24, 01.08.26 and 15.10.27 increased to

Fairfirst Insurance to make insurance premiums more affordable

Views - 33 Tuesday, 11 June 2019 00:00

Traditional payment methods generally involve payments being made in one go. And if it’s a hefty sum then the impact on one’s wallet is even bigger. But, what if there was a way to go easy on the wallet? What if we could pay in bite-sized proport

Seylan Bank felicitates top performing Bancassurance employees

Views - 27 Tuesday, 11 June 2019 00:00

‘Bancassurance Felicitation Night’ organised by Union Assurance, one of Sri Lanka’s leading life insurance providers felicitated the topperforming employees of Seylan Bank under Bancassurance category at a gala event held at the JAIC Hilton rec

Vallibel Finance records outstanding year as revenue tops Rs. 8 billion

Views - 100 Monday, 10 June 2019 00:34

Vallibel Finance PLC reaffirmed its standing as one of the most respected finance companies in Sri Lanka, delivering yet another sterling performance in the financial year ending March 2019 with all key indicators posting outstanding impressions for

Parallel upward shift of yield curve

Views - 113 Monday, 10 June 2019 00:30

The secondary market bond yields increased across the yield curve during the shortened trading week ending 7 June, reversing a downward momentum witnessed over the previous five weeks.   Yields of the 15.10.21, 01.10.22, 15.07.23, 15.03.24, 01.08.

Union Assurance shines at ACCA Sustainability Awards 2018

Views - 39 Monday, 10 June 2019 00:29

Union Assurance emerged as the Winner in the Finance Services and Insurance Category at the ACCA Sri Lanka Sustainability Reporting Awards 2018 held on 30 May.  This is the 15th consecutive year that ACCA has organised this event, and the 11th insta

Today's Columnists

Is Sri Lanka under the dominance of a powerful cabal?

Saturday, 15 June 2019

There is a saying that “A fish rots from the head”. That is the expression used when a country’s leadership is seen as responsible for violence and unethical behaviour of its supporters and the citizens in general - agitating the majority commu

Behind the scenes

Saturday, 15 June 2019

We see and hear many things happening on the stage. Some we only hear about and do not see. More things are happening without being seen clearly. An observation with extensive view and survey will be the only means of bringing to light the true natur

My way or the Huawei: global battle for 5G dominance and its impact on Sri Lanka

Friday, 14 June 2019

The ongoing battle between the US and the Chinese tech giant Huawei is escalating due to both parties’ eagerness to dominate 5G technology, the next major global technological revolution. It will define the future of the World Wide Web, creating a

Plunder of public property by rulers

Friday, 14 June 2019

While the failure to build the modern nation has been the prime factor that had caused the wretchedness of Sri Lanka, plundering of public property by rulers when they are under their custody can be considered the next vital factor that had exacerbat

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