Financial Services,Front Page

Value thesis more pronounced in Lankan equities; yet polarised risks make 2019 challenging

Views - 232 Thursday, 17 January 2019 00:05

Asia Securities Research expects the Sri Lankan stock market to offer pockets of opportunities for investors, in the year ahead, despite expectations that 2019 will in general be a challenging year for equities. The leading stock brokerage firm is re

Samantha Ranatunga ends 9 year stint on Seylan Board

Views - 43 Thursday, 17 January 2019 00:00

Independent Director Samantha Ranatunga has ended his stint on the Seylan Bank Board on 12 January. He was appointed to the Board in January 2010 and retired in terms of Section 3(2) (ii) of the Banking Act Direction No. 11 of 2007 on Corporate Gove

Ceylinco Life treats 66 new ‘High Flyer’ Club members to 4 foreign tours

Views - 21 Thursday, 17 January 2019 00:00

Sri Lanka’s leading life insurer, Ceylinco Life, treated 66 of its new ‘High Flyers’ Club members to exciting tours to the UK, China, Singapore and Malaysia as a reward for their excellent performance as sales agents in 2018. Among this group

NDB Wealth celebrates Thai Pongal

Views - 47 Thursday, 17 January 2019 00:00

Expert financial planner NDB Wealth recently marked Thai Pongal, the festival celebrating the first harvest of the season that dates back over 2,000 years. Commemorated with the tradition of boiling the first rice grown in the New Year, Thai Pongal

People’s Bank celebrates Thai Pongal

Views - 17 Thursday, 17 January 2019 00:00

People’s Bank held its main celebration coinciding with the Thai Pongal festival, at its Kotahena and Wellawatta branches. The celebration at the Kotahena branch was held under the patronage of People’s Bank Chief Executive Officer/General Manag

Amana Takaful’s ‘Samudra Shakthi’ cover empowers nation’s fishing community

Views - 16 Thursday, 17 January 2019 00:00

As a trusted insurer across every segments of society, Amana Takaful (ATL) PLC’s insurance solutions are synonymous with security and protection, also possess a has a deep-rooted understanding of the needs of the fishing community. The company tak

US charges suspected hacker, traders over SEC database hack

Views - 15 Thursday, 17 January 2019 00:00

REUTERS: US authorities on Tuesday charged a suspected Ukrainian computer hacker and several traders with involvement in a scheme to trade on market-moving corporate earnings news stolen from a US Securities and Exchange Commission database. The cha

Lanka Social Ventures to hold second international conference on 28-29 January

Views - 14 Thursday, 17 January 2019 00:00

Lanka Social Ventures, with its mission to promote and support entrepreneurship and innovation for social change and environmental sustainability, will hold its second international conference on ‘Social Enterprises and Social Finances’ in Colomb

Weekly averages continue to decline

Views - 62 Thursday, 17 January 2019 00:00

The weekly Treasury bill weighted averages continued its decreasing trend at its auctions conducted yesterday. The 364 bill decreased the most by 10 basis points to 10.75% closely followed by the 182 day bill by 07 basis points to 9.87%. The total of

Citigroup sees $ 2 billion more revenue from lending in 2019, shares rise

Views - 31 Wednesday, 16 January 2019 00:00

Reuters: Citigroup Inc said it would earn $2 billion more in revenue from its lending activities this year than in 2018 as it reported better than expected fourth-quarter earnings, sending its shares more than 4% higher. Chief Financial Officer John

South Pacific Stock Exchange and CSE sign MoU to boost collaboration

Views - 32 Wednesday, 16 January 2019 00:00

The South Pacific Stock Exchange (SPSE) and the Colombo Stock Exchange (CSE) announced the signing of a Memorandum of Understanding (MoU) to establish a collaborative relationship between the two exchanges seeking mutual development opportunities in

Brexit takes toll on Britain’s financial sector, outlook weak

Views - 25 Wednesday, 16 January 2019 00:00

LONDON (Reuters): Uncertainty over Brexit and the economy have led demand for Britain’s financial services to shrink for the first time in five years, with no immediate sign of an improvement, a survey by business group CBI and PwC showed. And prof

Malaysia to regulate initial coin offerings, cryptocurrency trade

Views - 19 Wednesday, 16 January 2019 00:00

KUALA LUMPUR (Reuters): Malaysia will regulate initial coin offerings (ICOs) and the trade of cryptocurrencies, the finance minister said in a statement on Monday. The minister said an order to recognise digital currencies and digital tokens as secur

HSBC settles FX deals worth $ 250 billion on blockchain in last year

Views - 40 Wednesday, 16 January 2019 00:00

LONDON (Reuters): HSBC has settled $ 250 billion worth of forex trades using blockchain in the last year, it said on Monday, suggesting the heavily hyped technology is gaining traction in a sector until now hesitant to embrace it. The bank has settle

Bond yields continue to decline ahead of Treasury Bills auction

Views - 65 Wednesday, 16 January 2019 00:00

By Wealth Trust Securities The secondary bond market remained active yesterday with yield declining further on the back of continued buying interest across the yield curve. The liquid maturities of 15.12.21, 15.12.23, 15.03.25 and 01.06.26 saw its yi

ComBank launches ‘Mastercard Send’ in Sri Lanka

Views - 45 Wednesday, 16 January 2019 00:00

The Commercial Bank of Ceylon has launched ‘Mastercard Send’, the facility that leverages Mastercard’s global payment network and card products, to provide Sri Lankan Mastercard cardholders with a convenient, fast, safe and reliable way to effe

Sampath Bank Kochchikade Branch gets new location

Views - 24 Wednesday, 16 January 2019 00:00

Sampath Bank relocated its Kochchikade Branch to more spacious and easy-to-access premises, located at Semutha Building, 163A, Chilaw Road, Kochchikade, recently. The branch is geared to offer Sampath Bank customers in and around Kochchikade a world

Bond market closes on positive mode

Views - 98 Monday, 14 January 2019 00:24

The bond market opened the week ending 11 January 2019 on a bearish mode but returned to a positive mode by the latter part of the week on the back of the primary auction outcomes. Firstly, the weighted average on the 364 day bill decreased by 14 bas

ComBank introduces online and mobile banking registration via ATMs

Views - 90 Monday, 14 January 2019 00:23

The Commercial Bank of Ceylon has enabled its entire network of ATMs and CRMs for customers to conveniently register for online and mobile banking facilities 24/7. To commence using Commercial Bank’s online and mobile banking facilities, customers

Indian rupee seen facing more punishment, but no new record low: Reuters poll

Views - 26 Monday, 14 January 2019 00:22

BENGALURU (Reuters): The battered Indian rupee will take another bruising this year, despite a recent revival, weighed down by uncertainty around national elections in May and an expected economic slowdown, a Reuters poll found. While the currency re

CDB gains ISO/IEC 27001:2013

Views - 101 Friday, 11 January 2019 00:00

Achieving yet another triumph, Citizens Development Business Finance PLC (CDB) gained one of the toughest ISO certifications applicable for the financial industry recently. CDB is now proudly certified with ISO/IEC 27001:2013, the information securit

Philippine court orders jail for former Bank Manager over Bangladesh Central Bank heist

Views - 38 Friday, 11 January 2019 00:00

MANILA (Reuters): A Philippine court on Thursday held a former Bank Manager guilty on eight counts of money laundering, the first conviction in one of the world’s largest cyber heists, in which $81 million was stolen from Bangladesh’s Central Ban

Bond market remains dull ahead of Treasury bond auctions

Views - 80 Friday, 11 January 2019 00:00

By Wealth Trust Securities Activity in the secondary bond market remained moderate yesterday as most market participants continued to stay on the sidelines ahead of today’s Treasury bond auctions. Limited trades were seen on the maturities of the t

Banking is necessary; banks are not: Bill Gates

Views - 270 Friday, 11 January 2019 00:00

To those who say that Apple did not kill the music industry, being forced to buy the entire music album did, Amazon did not kill retailers, long queues at the local store did, AirBnb didn’t kill the hotel industry, limited availability of hotel roo

Central Bank, oversight and 2018 targets: A critique

Views - 215 Friday, 11 January 2019 00:00

Both growth1 and inflation2 have fallen below the targets set by the Central Bank. This failure, however, is going unnoticed due to the constitutional treason that has taken place. The Central Bank has failed on oversight of board appointments to sys

Highest number of emerging economies will raise rates this year since 2006: JP Morgan

Views - 49 Friday, 11 January 2019 00:00

LONDON (Reuters): This year will see more emerging market countries raise interest rates than at any point since the pre-financial crisis uplands of 2006, analysts at JP Morgan predict. A presentation by the US investment bank showed 19 of the 24 eme

PwC’s Academy Sri Lanka guides First Capital to master Mergers & Acquisitions and Credit Evaluation

Views - 124 Friday, 11 January 2019 00:00

PwC’s Academy Sri Lanka, the executive education arm of PricewaterhouseCoopers (PwC), recently helped one of the country’s prominent investment banks, First Capital Holdings PLC to master the art of Mergers and Acquisitions as well as Credit Eval

Dr. Pathmanathan Niranjan new CEO of Bimputh Finance

Views - 133 Friday, 11 January 2019 00:00

Bimputh Finance PLC has announced the appointment of Dr. Pathmanathan Niranjan as the company’s new CEO. Dr. Niranjan has extensive exposure in the financial and banking sector, with an illustrious career spanning almost 35 years. He worked his way

New year stocks rally stalls as trade talks and data disappoint

Views - 12 Friday, 11 January 2019 00:00

LONDON (Reuters): The early-year rally in world stocks ran out of steam in Europe yesterday and the dollar touched a near three-month low, as mixed signals from US-China trade talks and caution at the Federal Reserve applied the brakes. China said th

HNBA Group Steps into the 2nd Year of ‘Vision 2020’

Views - 36 Friday, 11 January 2019 00:00

HNB Assurance PLC (HNBA) and its fully owned subsidiary, HNB General Insurance Limited (HNBGI), welcomed the new year at a simple ceremony where HNBA and HNBGI Managing Director/CEO Deepthi Lokuarachchi and the executive committee articulated the del

Today's Columnists

Politicians and cricketers: Expected role, selection and performance evaluation (Part 2)

Thursday, 17 January 2019

Before commenting on the selection process, it is better to understand the ground realities and the nature of the beasts. Sri Lanka has a good theoretical education system. This system prompts students to ‘Cram-Remember-Express’ or ‘Read-Rememb

Open letter to M.A. Sumanthiran, MP

Thursday, 17 January 2019

Happy Pongal, Mr Sumanthiran! You and I are from two very different generations. In fact you belong to my uncle’s generation (sadly I don’t get along very well with my uncle). You are a child of the ’70s. I’m a child of the 90s. In a more tex

Why Gota gave me a ‘Gotler’ feeling

Wednesday, 16 January 2019

Bourgeoisie venues It is no accident that presidential-candidate hopeful Gotabaya Rajapaksa holds his Viyathmaga meetings in bourgeoisie spots. Once, it had been Shangri-La. Last Saturday, 12 January, it had been Waters Edge. Gota’s speech offered

A lie is also a truth

Wednesday, 16 January 2019

Gotabaya Rajapaksa is a determined contender for the presidency. His trenchant lecture to activists of the Viyathmaga forum demonstrated the man’s spiritedness and impulse to act. He is a driven man. What drives him?

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