Financial Services

Safe-haven currencies under pressure as stimulus hopes grow

Views - 56 Tuesday, 20 August 2019 00:09

TOKYO (Reuters): Safe-haven currencies such as the yen and Swiss franc were under pressure on Monday as expectations policymakers would unleash new stimulus eased immediate concerns about a slowing global economy. Such hopes found support from the Ch

LOLC Life Assurance wins Inter Insurance Company Quiz Competition 2019

Views - 23 Tuesday, 20 August 2019 00:07

LOLC Life Assurance emerged as winners at the 2019 Inter Insurance Company Quiz Competition by defeating some of the strong industry contenders. The competition was organised by the Sri Lanka Insurance Institute and was held at the Sri Lanka Foundati

Asia stocks rise as stimulus, policy hopes calm nervous investors

Views - 29 Tuesday, 20 August 2019 00:07

TOKYO (Reuters): Asian stocks rose on Monday as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors’ fears of a sharp global economic slump. Over recent wee

Fortunaglobal revolutionising Sri Lankan FinTech with customer centric innovation

Views - 29 Tuesday, 20 August 2019 00:05

Pioneering a wave of digital banking solutions in Sri Lanka, Fortunaglobal has firmly entrenched its credentials as the leading FinTech with its Affluence Digital Banking Suite and other digital solutions that promote financial inclusion. Fortunaglo

Kanishka appointed as an adviser to FASL

Views - 70 Tuesday, 20 August 2019 00:05

Kanishka Weeramunda was recently appointed as an adviser to the Fintech Association of Sri Lanka (FASL). Holding more than 18 years of high level experience in the ICT industry, Weeramunda is the Founder/CEO of PayMedia Ltd., a fintech company from S

ComBank declared Sri Lanka’s Most Respected Bank for 15th year in a row

Views - 21 Tuesday, 20 August 2019 00:04

The Commercial Bank of Ceylon has been ranked the Most Respected Bank in Sri Lanka for the 15th consecutive year and as the fourth Most Respected corporate entity in the country overall, in the 2019 ‘Most Respected Entities in Sri Lanka’ rankings

5-year bond yield hits 10% for first time in almost 2 months

Views - 88 Tuesday, 20 August 2019 00:01

By Wealth Trust Securities The upward momentum in secondary market bond yields continued, recording its fourth consecutive day of increases on the back of continued selling interest by both local and foreign participants. Interestingly, the market f

NDB paves financial journey for 40 years and beyond

Views - 28 Tuesday, 20 August 2019 00:00

NDB Bank celebrates its 40th year anniversary, marking four decades of unparalleled commitment and innovation, growing from roots of development within the Bank to developing individuals, families, businesses and the society. Established in 1979 as t

Nihal Fonseka joins the ranks of the global financial elite

Views - 115 Tuesday, 20 August 2019 00:00

Nihal Fonseka, President of CISI Sri Lanka’s National Advisory Council (NAC), has been awarded an Honorary Fellowship by global financial services professional body the CISI. Honorary Fellowships are awarded by the CISI (Chartered Institute for Sec

NDB expands physical and digital footprint across the island

Views - 64 Monday, 19 August 2019 00:36

NDB has taken considerable strides in a bid to support and encourage the businesses and entrepreneurial efforts of its people through a network of 111 branches around the island through four decades of excellence. With customised SME financing facili

Pan Asia ‘Salary Saver Account’ offers best benefits for salaried employees

Views - 44 Monday, 19 August 2019 00:33

Committed to helping customers stretch their hard-earned money to the maximum possible extent and receive optimum benefits, Pan Asia Bank’s Salary Saver was recently re-launched with a bundle of value additions for salaried professionals. According

Upward parallel shift of yield curve

Views - 93 Monday, 19 August 2019 00:33

The secondary bond market witnessed renewed selling interest by both foreign and local participants during the shortened trading week ending 16 August, which led to yields increasing across the yield curve. The increase in the benchmark 364-day bill

Nations Trust Bank American Express presents Automated Bill Settlement Facility

Views - 39 Monday, 19 August 2019 00:32

If you are still paying bills yourself, then you are wasting time. Simply sign up for Automated Bill Settlement facility with Nations Trust Bank American Express and have all your bills settled automatically. It’s simple, convenient and totally ha

DFCC Bank for everyone

Views - 30 Monday, 19 August 2019 00:32

Backed by over 60 years of expertise in development banking, DFCC Bank is a full service, dynamic commercial banking institution. Evolving with the times to meet the changing needs of its esteemed clientele, DFCC Bank aims to reach one million custom

Fitch rates Senkadagala Finance’s Rs. 1.75 b debenture final ’BBB’

Views - 40 Monday, 19 August 2019 00:31

Fitch Ratings Lanka has assigned Senkadagala Finance PLC’s (Senka, BBB+ (lka)/Stable) subordinated unsecured debentures a final National Long-Term Rating of ‘BBB (lka)’. The issuance totals Rs. 1.75 billion, with the debentures to mature in fiv

Ceylinco General Insurance unveils affordable cover for serious illnesses

Views - 26 Monday, 19 August 2019 00:30

Announcing yet another unique benefit for all Sri Lankans, Ceylinco General Insurance is offering a cover of up to Rs. 500,000 per annum that will reimburse medical costs incurred in the treatment of diagnosed serious illnesses, including heart disea

HSBC opens Two Union Square

Views - 93 Monday, 19 August 2019 00:28

Two Union Square was declared open by HSBC Group Managing Director and Group Chief Operating Officer Andy Maguire. He was joined by Sri Lanka and Maldives CEO Mark Prothero, Sri Lanka and Maldives COO Kanchana Hewavitharana, other members of the HSBC

BOC introduces BOC SmartPay-QR based payment app under LANKAQR

Views - 108 Monday, 19 August 2019 00:27

Bank of Ceylon (BOC) launched BOC SmartPay- QR (quick response) code based payment solution offered to its valued customers which will be the latest addition to the digital product range of the bank. This will be a key milestone to support bank’s

SLIC introduces ‘Divisavi’, an affordable protection plan for your loved ones

Views - 24 Monday, 19 August 2019 00:24

The pioneer of insurance industry, Sri Lanka Insurance (SLIC) recently launched their newest life insurance plan ‘Divisavi’, an insurance policy which provides complete financial protection for the loved ones of the policyholder at a very afforda

Fairfirst pioneers Mobile Screen Insurance in Sri Lanka

Views - 69 Friday, 16 August 2019 00:00

For the first time in Sri Lanka, Fairfirst Insurance is offering Mobile Screen Insurance to protect your shiny phone surface from an accidental cracked screen or liquid damage. “As an empathetic insurer, we understand the rock-solid relationship e

Prudential to split by year-end

Views - 33 Friday, 16 August 2019 00:00

LONDON (REUTERS): Britain’s biggest insurer Prudential will complete a planned break-up of the company by the end of the year, with its UK-focused fund and insurance business set to list as M&G Plc. The Asia and US-focused rump of the company will

Allianz Lanka lauds stellar employee performance at Allianz Annual Awards 2019

Views - 33 Friday, 16 August 2019 00:00

Sri Lanka’s premier insurer, Allianz Lanka, recently hosted this year’s iteration of its much-anticipated Allianz Annual Awards recently. The grand event unfolded through the night at the Eagles’ Lakeside Banquet and Convention Hall, Attidiya.

HNB Assurance launches PrivilegedLife

Views - 71 Friday, 16 August 2019 00:00

A promising lifestyle encompasses of key essentials such as protection, health, retirement and savings. Once these four essentials in life are met, life’s journey becomes a truly privileged one. With this in mind, HNB Assurance PLC (HNBA) announced

Nations Trust Bank records Rs. 1.4 b in post-tax profits

Views - 104 Friday, 16 August 2019 00:00

Volatile economic conditions which prevailed in the country and affected many key economic sectors since the second half of 2018, continued into 2019 as well, impacting the financial performance of many businesses. Amidst the rising NPLs, increased

Pan Asia Bank reports Rs. 753 m PAT in 1H amid challenging conditions

Views - 53 Friday, 16 August 2019 00:00

The Pan Asia Banking Corporation PLC reported Rs. 753.7 million in Profit After Tax for the six months ended 30 June 2019 (1H’19) as the bank ploughed through a period mired with multiple challenges. In the quarter ended in 30 June 2019 (2Q’19),

CB extends suspension on Pan Asia Bank primary dealer unit

Views - 50 Friday, 16 August 2019 00:00

The Central Bank said yesterday that it has decided to extend the existing suspension of the primary dealer activities of Pan Asia Bank for another six months. The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulation

Shares end lower on profit-taking; rupee weakens

Views - 51 Friday, 16 August 2019 00:00

Reuters: Sri Lankan shares closed weaker on Thursday as investors locked in profits after the recent rally in financial and industrial stocks, while the rupee edged down on importer dollar demand. The benchmark stock index ended down 0.54% at 5,917.

Secondary market bond yields continue to increase

Views - 61 Friday, 16 August 2019 00:00

The secondary market bond yields were seen increasing further yesterday, mainly on the short end to the belly end of the yield curve on the back of selling interest. The yields on the liquid maturities of 01.08.21, 2023’s (15.05.23 & 15.12.23), 202

364 day bill weighted average increases for first time in 25 weeks

Views - 92 Thursday, 15 August 2019 00:00

By Wealth Trust Securities The 364 day bill weighted average was seen increasing for the first time in 25 weeks at its weekly Treasury bill auction conducted on Monday due to Wednesday been a holiday, recording a 6 basis point increase to 8.17%. This

HNB introduces SME Equity funding platform

Views - 262 Thursday, 15 August 2019 00:00

Sri Lanka’s most SME-friendly bank, HNB PLC announced a unique partnership with Tribefunds Ltd., an equity funding platform that links local SMEs and start-ups with local and global investors in order to channel much-needed investment into the sect

Today's Columnists

Trendvertising: The new world of communication in a hashtag world

Tuesday, 20 August 2019

Rahul Bose, an Indian actor, caught a lot of attention for a video post that went viral, where he complained about the price of bananas during his stay at a five-star hotel in Mumbai. As he explained in his story – he went to the gym at his hotel w

Company Law intertwined with Income Tax – Understanding the nexus! Part II

Tuesday, 20 August 2019

A comparison and analysing the impact of corresponding provisions of Companies Act No. 7 of 2007 and Inland Revenue Act No. 24 of 2017 reveals invaluable insights corporate management must be aware of in day-to-day management activities as well as st

Will ‘10 February’ be repeated?

Tuesday, 20 August 2019

Whilst Sri Lanka is in election mode, the thought crossing every Sri Lankans mind is, ‘Will the 10 February 2018 elections behaviour be repeated?’ given the head-start that ‘Brand Gota’ has got. Whilst many are speculating who will be the fig

Shanta Devarajan: Economist who cannot get disconnected from his motherland

Monday, 19 August 2019

For me, Shanta Devarajan, formerly the Acting Chief Economist of the World Bank Group succeeding the Nobel Laureate Paul Romer and presently Professor at Georgetown University, USA, was a legend by himself. When I met him in early part of the new mil

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