Financial Services,News

Bond market ends week on positive note

Views - 139 Monday, 19 November 2018 00:00

By Wealth Trust Securities The week ending 16 November saw the secondary bond market end on a positive note despite the market witnessing an increase in Central Bank’s policy rates and an increase in the weekly Treasury bill weighted averages. Act

People’s Merchant steps towards sustainable future

Views - 30 Monday, 19 November 2018 00:00

People’s Merchant Finance PLC (PMF) successfully accomplished profits from mid-2018 onwards after six years of loss making. The strategic direction introduced by CEO and the corporate management with the guidance of the chairman and the board of di

ComBank pioneers credit card settlement via internet payment gateway

Views - 126 Monday, 19 November 2018 00:00

The Commercial Bank of Ceylon has introduced another first in online banking in Sri Lanka, making it possible for the bank’s credit card holders to settle outstanding card balances via its Internet Payment Gateway (IPG) using another local bank deb

Technical session on ‘Forging Ahead with Resilience’ for Boards of Directors of banks

Views - 54 Monday, 19 November 2018 00:00

The Central Bank with a view to ensuring a stronger and dynamic banking sector which is capable of proactively facing challenges in digital era, hosted a Technical Session to further enhance and update the knowledge of Boards of Directors, Chief Exec

Kanrich Finance Ambalangoda branch commences gold loan services at new premises

Views - 8 Monday, 19 November 2018 00:00

Kanrich Finance Ltd. with a spectacular existence spanning over 46 years in the Sri Lankan finance sector has offered many customised and trusted financial solutions for their devoted clientele over four decades. Ensuring to serve their customers in

Chandula articulates corporate social transformation to Asian Bankers

Views - 20 Monday, 19 November 2018 00:00

The 35th Asian Bankers Association (ABA) General Meeting and Conference ‘Banking in Asia – The Next Frontier’ was held in Kurumba Maldives from 15 to 16 November. The Asian Bankers Association serves as a forum for advancing the cause of the ba

Asia Pacific emerging market credit conditions broadly stable in 2019: Moody’s

Views - 31 Friday, 16 November 2018 00:00

Credit conditions for emerging markets in 2019 will probably be more challenging as global growth slows, financial market volatility continues, interest rates rise and trade protectionism and geopolitical tensions heighten, says Moody’s Investors S

Sri Lanka’s on-going crisis may lead to higher risks in rolling over foreign debts

Views - 1114 Friday, 16 November 2018 00:00

By M. Yusuf In a letter to bond investors in July, a Senior Manager warned that “uncertainty is likely to crescendo through 2019 and as a bond investor, we are bracing ourselves for a messy and complicated election cycle ahead”, but concluded tha

Fund managers place bets in Asia’s oversold assets, such as high-yield bonds

Views - 24 Friday, 16 November 2018 00:00

Tokyo (Reuters): As contagion from worries over global growth and trade friction pushes Asian equity, bond and currency markets deeper into bear territory, fund managers are hunting for bargains in Chinese and Indian equities and high-yielding Asian

Asia stocks lifted by China-US trade hopes

Views - 12 Friday, 16 November 2018 00:00

TOKYO (Reuters): Asian stocks rose on Thursday, cheered by a bounce in Chinese equities on signs China and the United States may be taking steps to de-escalate their bitter trade dispute, while oil prices resumed their retreat on fears of oversupply.

Janashakthi Life continues to deliver steady growth in Q3

Views - 32 Friday, 16 November 2018 00:00

Janashakthi Insurance PLC (Janashakthi) continued on its growth journey, registering a Gross Written Premium (GWP) of Rs. 2.2 billion as at 30 September 2018. The Insurer ended the period under review with post-tax profits of Rs. 7.4 billion, includi

IFRS 17 presents local insurance sector to redefine itself and market

Views - 133 Friday, 16 November 2018 00:00

By Darshana Abayasingha International Financial Reporting Standard (IFRS) 17 issued by the International Accounting Standards board comes into effect from January 2021, whereby insurance contract liabilities will be calculated as the present value of

Fairfirst provides financial security for Dambadiva pilgrimage travellers

Views - 55 Friday, 16 November 2018 00:00

Nearly 50,000 Sri Lankans travel every year to India and Nepal for the hugely popular Dambadiva pilgrimage. Venerated by Buddhists the world over, pilgrims have continued to visit Dambadiva for centuries. Known to be a fairly demanding and tiresome

AIA 3Q new business value jumps 17% on sales in China, Hong Kong

Views - 13 Friday, 16 November 2018 00:00

Reuters: AIA Group Ltd., the world’s second largest life insurer by market value, posted a 17% rise in new business value in its fiscal third quarter, as it boosted sales in its main markets of China and Hong Kong. China and Hong Kong together acco

Ceylinco Life appoints new Chairman and MD in smooth transition at the top

Views - 76 Friday, 16 November 2018 00:00

Ceylinco Life Insurance Ltd. (Ceylinco Life) has announced the appointment of R. Renganathan, the company’s Managing Director/CEO, as Executive Chairman effective 14 November, and the concurrent appointment of Deputy CEO Thushara Ranasinghe as Mana

Amana Takaful successfully transitions itself to ISO 9001:2015 certification

Views - 20 Thursday, 15 November 2018 00:41

Amana Takaful PLC (ATL) received the ISO 9001:2015 certification for both its General and Family (Life) Takaful businesses as part of its endeavor to continuously provide high service standards to its discerning customers. ISO 9001:2015 certification

Ceylinco Life’s 9-month net profit up 62% to Rs. 3.28 billion

Views - 73 Thursday, 15 November 2018 00:41

Ceylinco Life has carried its strong first half performance into the third quarter of the year, posting impressive top and bottom line growth for the nine months ending 30 September 2018. Sri Lanka’s life insurance market leader has reported profit

MSCI adds more China stocks to global emerging markets index

Views - 13 Thursday, 15 November 2018 00:40

NEW YORK (Reuters): MSCI Inc on Tuesday said it would add several onshore Chinese stocks to its closely watched and widely duplicated emerging-markets index. The financial data company said it would add S.F. Holding Co Ltd., 360 Security Technology I

Emerging stocks falter on growth concerns, FX lifts

Views - 16 Thursday, 15 November 2018 00:39

REUTERS: Plunging oil prices and a weaker dollar lifted most emerging currencies on Wednesday, but failed to boost emerging shares weighed down by Chinese growth concerns. The emerging currency index firmed with the extended oil slide boosting curre

Rupee hits record low on political uncertainty, stocks down

Views - 55 Thursday, 15 November 2018 00:39

Reuters: The Sri Lankan rupee fell to a record low of 176.60 to the U.S. dollar on Wednesday, as political uncertainty outweighed the positive impact of a policy rate hike, sources said. Stocks closed weaker due to political uncertainty and the polic

Monetary policy rates change for first time in five announcements

Views - 99 Thursday, 15 November 2018 00:39

The Central Bank of Sri Lanka (CBSL) was seen changing its policy rates for the first time in five announcements yesterday. Policy rates were increased by 75 basis points and 50 basis points on its Standing Deposit Facility Rate (SDFR) and Standing L

LB Finance records Rs 4.5 billion profit before tax in 1H 2018

Views - 101 Thursday, 15 November 2018 00:10

LB Finance PLC, Sri Lanka’s leading non-banking financial service provider, showcased a resounding growth for the first six months of the year as at end-September 2018, with Operating Profit Before Tax on

HNB posts 9 month Group PAT of Rs 14.5 b

Views - 805 Thursday, 15 November 2018 00:10

Hatton National Bank PLC (HNB) has reported a Profit after Tax (PAT) of Rs. 14.5 billion at Group level for the nine months to September 2018 recording a growth of 23% YoY, while the Bank’s PAT for the period amounted to Rs. 13.1 billion growing by

Central Bank warns public to be attentive of financial scams, phishing emails

Views - 52 Thursday, 15 November 2018 00:00

Central Bank (CBSL) yesterday said that its attention has been drawn to recent grievances received from the general public regarding financial scams spreading through phishing emails and social media messages. The Central Bank has noticed that th

Seylan Bank appoints two new directors

Views - 65 Thursday, 15 November 2018 00:00

Seylan Bank PLC announced the appointment of Krishan Thilakaratne and Ravi Abeysuriya to its director board with effect from 1 October and 17 October respectively. Abeysuriya was appointed as an Independent Director while Thilakaratne will play his

Dilip appointed to Sampath Bank Board

Views - 72 Thursday, 15 November 2018 00:00

Dilip Kumar de Silva Wijeratne has been appointed to the Board of Sampath Bank as a Non-Executive Non-Independent Director. Wijeratne is a senior finance and banking professional and a principal consultant who provides advisory services to companies

Bond weighted averages cross 12.00%

Views - 109 Wednesday, 14 November 2018 00:00

By Wealth Trust Securities The Rs. 98 billion on offer at the two Treasury bond auctions conducted yesterday was successfully taken up at its Phase One stage with the eight years and seven months maturity of 15.06.2027 recording a weighted average of

Rupee hits record low of 176.05 on political crisis

Views - 56 Wednesday, 14 November 2018 00:00

REUTERS: The rupee fell to a record low on yesterday as political uncertainty triggered by President Maithripala Sirisena’s decision to sack Parliament weighed on sentiment, market participants said. The currency hit 176.05 versus the dollar, surp

Prime Finance consolidates upward momentum

Views - 46 Wednesday, 14 November 2018 00:00

Successfully accomplishing the challenge of overcoming the volatile economic condition prevailing in the country, Prime Finance PLC completed the second quarter of its financial year with remarkable progress, by adopting the most productively well-in

Allianz Insurance Lanka continues its impressive performance in 3Q

Views - 67 Wednesday, 14 November 2018 00:00

Allianz Insurance LankaLtd. continued its remarkable performance post the amalgamation to record a gross written premium of Rs. 13.6 billion with a YoY growth of 6% at the end of the third quarter 2018.The company’s continuous commitment to growth

Today's Columnists

Greening China and BRI: Chinese legal framework for sustainable environment protection

Tuesday, 20 November 2018

The concept and scope of greening the belt and road The Greening BRI is to add the ‘greening’ notion along with the ‘BRI’. Building a ‘Greening BRI’ means adhering to the concept of green development, balanced development, harmony betwee

Political evil paralysing Parliament

Tuesday, 20 November 2018

Our politics has arrived at a point when we must insist on recognising the niceties of human nastiness. Organised horror in Parliament is either trivialised or ignored by most of mainstream media print and electronic. What unfolded in Parliament las

10 theses on Sri Lanka’s existential crisis: Roots, dynamics, dimensions

Tuesday, 20 November 2018

1.The crisis has deep national, social and psychological roots. Our island contains two consciousnesses or two types of consciousness, two competing states of mind. Contrary to myth, the periphery of our island has the longest uninterrupted colonial

Make toilets and safe sanitation services accessible to all

Tuesday, 20 November 2018

All people everywhere should have access to safe sanitation services, including hygienic toilets that are connected to quality sewage systems. For many people across the WHO South-East Asia Region, as across the world, access to these services never

Columnists More