Financial Services

Korean Depository to collaborate with Lankan counterpart CDS

Views - 50 Friday, 14 December 2018 00:00

Central Depository Systems Ltd. (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), signed a MoU with Korea Securities Depository (KSD) on the sidelines of the 22nd Annual General Meeting of the Asia‐Pacific Central Securities Depo


Emergence of fintech, challenges under spotlight at ACG AGM

Views - 38 Friday, 14 December 2018 00:00

The 22nd Annual General Meeting (AGM) of the Asia-Pacific Central Securities Depository Group (ACG), themed ‘FinTech – shifting or shaping the future of CSDs’, discussed key issues relating to ACG policy and activities as well as the future a C


Asian shares, sterling up on pause in Brexit, trade fears

Views - 19 Friday, 14 December 2018 00:00

SHANGHAI (Reuters): Asian shares and the pound moved higher on Thursday as investors breathed a sigh of relief after British Prime Minister Theresa May survived a no-confidence vote, and as China appeared to be taking more steps to meet US demands to


Seylan Bank relocates Thalawakele branch to serve customers better

Views - 16 Friday, 14 December 2018 00:00

With an aim of providing a comprehensive banking experience, Seylan Bank has relocated its Thalawakele branch to a convenient location with ample parking facilities. Located at No. 43/A, Kothmale Road, Thalawakele, the new branch will operate from 9


NDB Wealth kicks off campaign for festive season

Views - 35 Friday, 14 December 2018 00:00

Expert financial planner NDB Wealth recently kicked off a campaign to educate the public on wealth management for the 2018 end-of-year festive season. Starting from mid-November 2018, NDB Wealth staff dedicated themselves to creating awareness on a


Central Bank holds 11th International Research Conference

Views - 18 Friday, 14 December 2018 00:00

The Central Bank of Sri Lanka held its 11th International Research Conference on 7 December at the John Exeter International Conference Hall. This conference is held annually, with the objective of promoting theoretical and empirical research in fie


Investors cut short positions on most Asian currencies, yuan bear bets at 21-month low: Reuters poll

Views - 14 Friday, 14 December 2018 00:00

Reuters: Bearish bets on most Asian currencies fell over the past two weeks, a Reuters poll showed on Thursday, as the US Federal Reserve is widely expected to hold rates next year after a near certain hike next week. Wagers on the yuan weakening dec


Mercantile Investments wins top recognition at CA Sri Lanka Competition

Views - 19 Friday, 14 December 2018 00:00

Mercantile Investments and Finance PLC (MI) was recognised yet again for financial reporting excellence, winning two prestigious awards at the recently held CA Sri Lanka annual report awards ceremony. The company secured the Finance Company sector Si


Softlogic Life creates history with 5 awards at CA Annual Report Awards

Views - 19 Friday, 14 December 2018 00:00

Sri Lanka’s number one health insurance company, Softlogic Life, created history at the recently concluded CA Sri Lanka 54th Annual Report Awards 2018 themed ‘Epitome of Brilliance’, winning five awards that included the Industry Gold and recog


NBFIs operate according to shadow directors’ mandate: Regulator

Views - 215 Friday, 14 December 2018 00:00

A senior Central Bank official claimed that the non-bank finance institutions (NBFIs) has been operated according to shareholders or ‘shadow directors’ mandate, while weakening the role of the compliance function, the board of directors and senio


Considerable demand for bonds at Primary auction

Views - 37 Friday, 14 December 2018 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. 50 billion being successfully subscribed. The three-year maturity of 15 December 2021 recor


Rupee ends lower on foreign sell-off ahead of key ruling

Views - 18 Friday, 14 December 2018 00:00

Reuters: The Sri Lankan rupee ended a tad weaker on Thursday in dull trade amid pressure on the currency due to foreign outflows from bonds and stocks as a lingering political crisis weighed on sentiment ahead of a key ruling by the island nation’s


Net foreign outflow tops Rs. 20 b mark

Views - 58 Thursday, 13 December 2018 00:11

NDB Securities yesterday revealed that year to date net foreign outflow from the Colombo stock market crossed the Rs. 20 billion mark though the Bourse ended on the up. Last year the market finished with a net inflow of Rs. 17.7 billion. NDB Securit


Rupee ends lower as foreign sell-off continues

Views - 63 Thursday, 13 December 2018 00:11

Reuters: The Sri Lankan rupee ended weaker on Wednesday, as foreign investors continued to exit from bonds and stocks as a lingering political crisis weighed on sentiment ahead of a key ruling by the island nation’s Supreme Court. The ruling, exp


Plans for new investor at People’s Merchant Bank nearing finalisation

Views - 38 Thursday, 13 December 2018 00:10

Efforts to bring in a new investor with capital for the People’s Merchant Bank PLC is nearing finalisation, the company said this week. The new unnamed proposed investor and the company, along with parent companies People’s Bank and People’s Le


57% of Dunamis shareholding accept Janashakthi voluntary offer

Views - 53 Thursday, 13 December 2018 00:10

Nearly 57% shareholding of Dunamis Capital PLC has accepted the voluntary offer from related party Janashakthi PLC., for Rs. 2.56 billion. Prior to the offer, Janashakthi held 41.14% or 50.59 million shares in Dunamis and when the offer at Rs. 36.60


182 day bill weighted average yield continues to increase

Views - 53 Thursday, 13 December 2018 00:10

The weighted average yield of the 182 day bill continued its increasing trend at yesterday’s weekly bill auction, recording a 02 basis point rise to 10.03%. Interestingly, the weighted average yield of the 364 day bill too increased by 04 basis poi


Dollar up for a third day as yields rise

Views - 14 Thursday, 13 December 2018 00:00

LONDON (Reuters): The dollar rose for a third consecutive day on Wednesday as US Treasury yields rose before a Federal Reserve meeting where it is widely expected to raise interest rates for the fourth time this year. US interest rates may be nearing


Asian stocks cheered by Trump trade talk; sterling plagued by politics

Views - 14 Thursday, 13 December 2018 00:00

SYDNEY (Reuters): Asian stock markets rallied on Wednesday as US President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with the risk of an imminent party coup against British Prime Minister Theresa May. In an i


DFCC Bank extends branch footprint to Godakawela

Views - 21 Thursday, 13 December 2018 00:00

DFCC Bank has empowered the community of Godakawela by opening a new branch recently, to enrich the lives of the community in the area. The Godakawela branch was declared open by DFCC Bank CEO Lakshman Silva, senior management and branch staff, alon


Seylan Bank makes headway in Business Today’s Top 30 rankings

Views - 12 Thursday, 13 December 2018 00:00

Seylan Bank PLC received honours as one of Sri Lanka’s best performing corporate entities at the Business Today’s Top 30 Awards 2017-18, held at the Shangri-La hotel, Colombo recently.


Union Assurance receives multiple accolades at National Business Excellence Awards 2018

Views - 16 Thursday, 13 December 2018 00:00

Union Assurance (UA) won three prestigious awards at the recently concluded National Business Awards 2018 organised by the National Chamber of Commerce in Sri Lanka.


HSBC insights to shifting supply chains and capitalising on the US-China trade war

Views - 45 Wednesday, 12 December 2018 00:00

Sri Lanka may be in the midst of arguably the most precarious political malaise in its history, but if a new HSBC report is to go by, the outlook for the Asian region as a whole is rather more positive.  Among the key takeaways from the Hong Kong-ba


Indian Central Bank Head quits after months of government pressure

Views - 35 Wednesday, 12 December 2018 00:00

MUMBAI (Reuters): The Governor of the Reserve Bank of India, Urjit Patel, resigned suddenly on Monday, following months of pressure from Prime Minister Narendra Modi’s government that is threatening the independence of the central bank, sending the


India names Shaktikanta Das as next RBI governor

Views - 11 Wednesday, 12 December 2018 00:00

Reuters: India’s government named Shaktikanta Das as the next governor of the Reserve Bank of India on Tuesday, replacing Urjit Patel who resigned abruptly on Monday. Das, a former secretary at India’s Department of Economic Affairs, was appointe


ComBank Annual Report Best in Banking sector for 14th year

Views - 19 Wednesday, 12 December 2018 00:00

The Commercial Bank of Ceylon PLC was reaffirmed the best among Sri Lanka’s banks for financial disclosure for a consistent 14th year, winning the Gold in the Banking Institutions category at the 2018 CA Sri Lanka Annual Report Awards. The bank a


HNB wins two Silver Awards at CA Sri Lanka Annual Report Awards 2018

Views - 66 Wednesday, 12 December 2018 00:00

Sri Lanka’s largest retail sector bank HNB PLC continued to receive recognition for its commitment to optimised financial reporting, winning two awards at the recently concluded CA Sri Lanka’s 54th Annual Report Awards. Taking place at the Shangr


NDB recognised at CA Sri Lanka Annual Report Awards

Views - 29 Wednesday, 12 December 2018 00:00

NDB’s 2017 Annual Report themed ‘Take a Closer Look’ was recognised with the Bronze Award at the CA Sri Lanka Annual Reports Awards 2018, which was held at Shangri-La Hotel, Colombo under the patronage of the Governor of Central Bank Dr. Indraj


NSB and Mastercard thank cardholders with Singapore air tickets

Views - 39 Wednesday, 12 December 2018 00:00

National Savings Bank (NSB) and Mastercard gave away two return air tickets to Singapore to M.F. Arshoff, the first winner of their two-month long debit card promotion. The winner was chosen based on the amount of point of sale transactions made with


Sampath Bank ranked among SL’s Top Ten Corporate Citizens

Views - 27 Wednesday, 12 December 2018 00:00

Sampath Bank was recognised as one of Sri Lanka’s Top Ten Corporate Citizens of the year at the Best Corporate Citizen Sustainability Award 2018 held at the Cinnamon Grand, Colombo recently. The Bank was also adjudged the joint winner of the catego


Today's Columnists

Overcoming the crisis: The second freedom struggle

Friday, 14 December 2018

The crisis that has been developing in Sri Lanka, manifesting itself in varied forms at different times since independence, has now taken the form of a constitutional crisis, threatening the survival of the Sri Lankan State. Regardless of the Court


Getting more women in the workforce

Friday, 14 December 2018

The current female labour force participation in Sri Lanka is around 36%. This means that a disproportionate majority of women still remain outside the labour market, with limited or no access to wages, pensions and other benefits tied to gainful emp


Our chit-chat – Can conversations make a nation?

Thursday, 13 December 2018

We are living through fascinating times dominated by online conversations with offline taking backstage. From the Arab spring to Yellow vests in France, the online has proven its potential and power – be it destructive or constructive! A reading o


The vote, the verdict, and the TNA ‘backstop’: Beyond ’56

Thursday, 13 December 2018

“Leader of PLOTE and TNA MP D. Dharmalingam …stated that he believes that Ranil Wickremesinghe has handed in a written assurance of several promises. …The promises are said to include agreements on constitutional amendments, freedom for politi


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