Financial Services

APIS to Conduct Classes for IBSL Exams

Views - 17 Monday, 22 April 2019 00:10

The opening ceremony of the Academy for Professional and International Studies (Pvt) Limited, APIS, was held on 7 April at its premises Second Floor, Dammika Motors Building, Kalubowila. The opening ceremony was graced by the Chief Executive Officer

HNB Finance’s Gold Loan facility now offered at key locations in Northern and Eastern Sri Lanka

Views - 8 Monday, 22 April 2019 00:00

Expanding its umbrella of services across the island, Sri Lanka’s leading integrated financial services provider HNB Finance announced the launch of the gold loan facility in Vavuniya, Trincomalee, Kantale, Dambulla, Polonnaruwa and Dehiattakandiya

Momentum in secondary bond market remains positive

Views - 27 Monday, 22 April 2019 00:00

The downward trend in the weekly Treasury bill weighted averages coupled with renewed buying interest saw the secondary bond market continue its bull run during the shortened trading week ending 18 April. Buying interest across the yield curve, cons

Kavan appointed Chairman of NDB

Views - 24 Monday, 22 April 2019 00:00

Top professional Kavan Ratnayaka has been appointed as the new Chairman of National Development Bank PLC (NDB). He succeeds Ananda Athukorala who retired with effect from 17 April after having joined the Board in August 2016. Ratnayaka was serving a

UK watchdog orders ring-fencing of Big Four audit business

Views - 9 Monday, 22 April 2019 00:00

London (Reuters): Britain’s “Big Four” accounting firms must ring-fence auditing from their consultancy work, the country’s competition watchdog said on Thursday in a response to book-keeping failures such as at construction company Carillion

No signs of global recession in next 12 months: BlackRock’s Fink

Views - 11 Monday, 22 April 2019 00:00

BERLIN (Reuters): There are no signs that the global economy is sliding toward a recession in the next 12 months, BlackRock Inc. Chief Executive Larry Fink said in remarks published on Saturday. In an interview with German business daily Handelsblatt

Seylan Bank opens latest ATM unit in Makumbura

Views - 31 Thursday, 18 April 2019 00:00

As the bank with a heart which operates with a vision to offer financial inclusivity to all Sri Lankans, opened its latest Automated Teller Machine (ATM) in Makumbura recently. The establishment of the new ATM in Makumbura is part of Seylan Bank’s

Continued demand drives yields down further

Views - 84 Thursday, 18 April 2019 00:00

By Wealth Trust Securities The secondary bond market remained active yesterday as continued buying interest across the yield curve consisting of the maturities 01.08.21, 15.03.22, 15.03.24, 15.01.27 and 01.05.29 saw its yields dip to intraday lows of

SEC to conduct ‘Dialogue with Public Listed Companies’

Views - 156 Thursday, 18 April 2019 00:00

The Securities and Exchange Commission of Sri Lanka (SEC) will launch the first in a ‘Chairman’s Forum’ series, on 25 April. The Colombo Stock Exchange (CSE) has been invited to be present. “In order to provide each stakeholder group with ad

Why use debit cards instead of cash?

Views - 106 Thursday, 18 April 2019 00:00

By Ruwandi Gamage Did you know that according to data from the Central Bank of Sri Lanka, over 17 million Sri Lankans use debit cards for their financial transactions? If you thought cash was a better option than debit cards, here are seven reasons t

Affiniti improves loan and lease recoveries

Views - 521 Thursday, 18 April 2019 00:00

Avonet Technologies, the local CRM company with a state-of-the-art delinquency management solution, has empowered many local banks and non-bank financial institutions in improving their loan and leasing recoveries. The Affiniti brand delinquency mana

Berendina awarded country’s first micro-financing license from CBSL

Views - 66 Thursday, 18 April 2019 00:00

Berendina Micro Investments Company (BMIC), the micro-finance arm of Berendina in Sri Lanka was recently granted a license to operate micro-financing by the Central Bank of Sri Lanka (CBSL), a first in the industry under the Microfinance Act No. 6 of

IESBA proposes revisions to Part 4B of Code to align with terms and concepts used in ISAE 3000

Views - 12 Thursday, 18 April 2019 00:00

The International Ethics Standards Board for Accountants (IESBA) has released for public comment Exposure Draft, proposed revisions to Part 4B of the Code to reflect terms and concepts used in ISAE 3000 (Revised). Part 4B of the revised and restruct

KPMG named a global leader in supply chain planning consulting by ALM Intelligence

Views - 27 Thursday, 18 April 2019 00:00

KPMG has been named a leading global service provider for supply chain planning consulting services in a new ALM Intelligence report. The ALM Vanguard Supply Chain Planning Consulting 2019 report assesses and ranks 24 global firms on their demonstrat

EY says Global M&A appetite at 10-year high fuelled by portfolio reshaping

Views - 36 Thursday, 18 April 2019 00:00

Despite mounting geopolitical complexities, the appetite for global mergers and acquisitions (M&A) is at a 10-year high, according to the 20th edition of the EY Global Capital Confidence Barometer (CCB), a biannual survey of more than 2,900 senior ex

Mitigating risk of world turning Japanese

Views - 23 Thursday, 18 April 2019 00:00

By Nicolas Rigois and Steve Brice The collapse of Japan’s Nikkei stock index from almost 39,000 in 1989 to 8,000 in 2008 has been well documented and was presumably traumatic for many Japanese investors. However, the decline in the 10-year governme

GRI honours Prof. Watawala for strengthening sustainability reporting in Sri Lanka

Views - 33 Thursday, 18 April 2019 00:00

Global Reporting Initiative (GRI) recently honoured CMA Sri Lanka President Prof. Lakshman R. Watawala with an award for the support and contribution to strengthen sustainability reporting in Sri Lanka in order that transparency can best inform deci

12 months of BoC’s ‘Thurunu Diriya’ – Enterprise Sri Lanka

Views - 45 Wednesday, 17 April 2019 00:00

By Charitha Ratwatte In early 2018, a group young interns (all graduates with first class degrees), senior analysts and specialists at the Policy Development Office of the Prime Minister’s Office were discussing the issue of youth unemployment in S

IFC helps CBSL launch roadmap to raise financial sector’s contribution to sustainable development

Views - 41 Wednesday, 17 April 2019 00:00

The Central Bank of Sri Lanka, with support from International Finance Corporation (IFC) and the United Nations Development Program (UNDP), has launched the Sustainable Finance Roadmap for the financial sector to increase capital flows to activities

Amãna Bank introduces Visa PayWave contactless cards

Views - 34 Wednesday, 17 April 2019 00:00

Amãna Bank now encourages all its customers to embrace the change of PayWave enabled Visa Debit Cards in order to experience a more secure, fast and convenient payment solution. Customers can now make payments by simply tapping or waving their Debit

60 investors commit to manage $ 350 b in assets in line with new impact principles

Views - 52 Wednesday, 17 April 2019 00:00

IFC, a member of the World Bank Group, last week announced that 59 investors have adopted the Operating Principles for Impact Management – a market standard for impact investing in which investors seek to generate positive impact for society alongs

US SEC places Sri Lanka national flag permanently in their auditorium

Views - 167 Wednesday, 17 April 2019 00:00

As a gesture of goodwill in appreciation of the decades of friendship and cooperation between the Securities and Exchange Commission (SEC) of Sri Lanka and the United States Securities and Exchange Commission (US SEC), the national flag of Sri Lanka

Weekly averages continue to tumble

Views - 76 Wednesday, 17 April 2019 00:00

 By Wealth Trust Securities The weekly Treasury bill weighted averages were seen continuing its downward rally at its auctions held yesterday as the total offered amount of Rs. 24 billion was successfully met with the bid to offer ratio registering

Rasitha Gunawardana assumes duties as new CEO/GM of People’s Bank

Views - 482 Wednesday, 17 April 2019 00:00

Rasitha Gunawardana assumed duties as the 16th Chief Executive Officer/General Manager of People’s Bank yesterday at the Head Office of People’s Bank. Gunawardana was appointed as the CEO/GM-Designate of People’s Bank in September 2018 and ass

ComBank first in Sri Lanka to offer global Wi-Fi to World Mastercard holders

Views - 47 Wednesday, 17 April 2019 00:00

Commercial Bank of Ceylon has become the first bank in Sri Lanka to offer access to over one million Boingo Wi-Fi hotspots worldwide at no additional charge to holders of World Mastercard credit cards issued by the Bank. This global benefit allows el

New Board appointments at HNB Assurance, HNB General Insurance

Views - 84 Wednesday, 17 April 2019 00:00

HNB Assurance PLC (HNBA) yesterday announced the appointments of Damien Fernando and Stuart Chapman as Non-Executive Directors while its subsidiary, HNB General Insurance Ltd., (HNBGI) announced the appointments of Damien Fernando, Sanjay Wijemanne a

NDB Wealth celebrates Avurudu 2019 with prosperity and abundance

Views - 26 Wednesday, 17 April 2019 00:00

This year, expert financial planner NDB Wealth marked Avurudu 2019 with staff taking part in traditional festivities and celebrations at the NDB Capital Building located at No. 135, Bauddhaloka Mw, Colombo 4. The Sinhala and Tamil New Year heralds a

Indian rupee bulls dig in as investors grapple with elections across Asia: Reuters poll

Views - 41 Friday, 12 April 2019 00:00

Reuters: A tale of two elections saw investors raise their bullish bets on the Indian rupee over the past two weeks while long positions on the Thai baht unravelled to their lowest this year, a Reuters poll showed. Foreign investors have ploughed bil

CA Sri Lanka, IRCSL highlight need to interweave integrated thinking with integrated reporting

Views - 48 Friday, 12 April 2019 00:00

With integrated reporting gaining recognition across corporate Sri Lanka, the increasing need for businesses to embrace and interlink integrated thinking with integrated reporting (IR) was highlighted at a workshop organised by the Institute of Chart

DFCC Bank Credit Cards makes Avurudu 10 times more special

Views - 27 Friday, 12 April 2019 00:00

Committed to spreading joy this Avurudu season, DFCC Bank is offering customers the opportunity to enjoy ‘10 Times the Rewards’ to make this holiday period truly special. DFCC credit cardholders will receive 10 times additional CashBack on cloth

Today's Columnists

Poignant pondering on a patriarch

Monday, 22 April 2019

Almost five months have gone. It is with a profound sense of sadness that we experienced the demise of our veteran teacher, respected author, legal luminary, an accomplished ambassador, an eminent public servant and an amazing human being, Dr. Wickre

Enemies of democracy – Part I Demand for a strongman to rule the country

Monday, 22 April 2019

I posed the following question to a group of university students recently: ‘Do you desire to have a strongman to rule Sri Lanka today?’ The students, made up of both genders in the age group of 25 to 35, chorused the answer in the affirmative. Wh

The sad demise of Jet Airways

Monday, 22 April 2019

Jet Airways of India, once the premier full-service carrier of the sub-continent, has ceased operations. “Jet Airways and its Board of Directors have been forced to take this extreme measure, as prolonged and sustained efforts with lenders and auth

No more stones to break Sri Lankan bones

Friday, 19 April 2019

Trial by fire is not a new ordeal to Christian community. It predates Notre Dame and Nazism by millennia. In fact, a decade or so before Nero torched believers to light Roman avenues, Jewish religious leaders put Jesus-followers to the test as the Ch

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