Financial Services

Islamic banks face outdated property rules: Industry body

Views - 24 Tuesday, 18 September 2018 00:00

(Reuters): Regulators overseeing Islamic banking must revise guidance on real estate exposures to align with the post-financial crisis capital rules of Basel III, a global industry body said on Sunday. The Bahrain-based General Council for Islamic Ba


London loses top spot to New York in financial survey due to Brexit

Views - 25 Tuesday, 18 September 2018 00:00

London (Reuters): New York has overtaken London as the world’s most attractive financial centre, a survey said last week, as Britain’s decision to leave the EU prompts banks to shift jobs out of the city to keep access to Europe’s single market


Bond investing in a late-economic-cycle

Views - 27 Tuesday, 18 September 2018 00:00

By Audrey Goh It is understandable that bond investors are worried as the economic cycle matures, especially in the US, and as the Fed continues to hike interest rates gradually. Conceptually, as we head towards the late stage of an economic cycle, c


Bourse slips to near 3-week closing low in dull trade

Views - 34 Tuesday, 18 September 2018 00:00

Reuters: Shares fell slightly to a near three-week closing low on Monday as investors sold manufacturing and banking stocks in dull trade, and the rupee hit a fresh low in its record-setting spree. The Colombo stock index ended 0.05% weaker at 6,028.


CAL facilitates first cross-border share transaction by Sri Lankan stockbroker

Views - 70 Tuesday, 18 September 2018 00:00

Capital Alliance (CAL), recently performed Sri Lanka’s first ever transaction of overseas stocks, marking a milestone in the annals of the nation’s corporate history. Previously, Sri Lankan investors were confined to investing in the Colombo Stoc


Secondary market bond yields spike to two month high

Views - 50 Tuesday, 18 September 2018 00:00

The fresh trading week commenced on a negative note, as the secondary bond market witnessed aggressive selling interest yesterday as yields spiked to levels last seen two months ago on certain maturities across the yield curve. The liquid maturities


London mayor calls for second referendum on Brexit

Views - 30 Monday, 17 September 2018 00:12

LONDON (Reuters): London mayor Sadiq Khan has called for another referendum on Britain’s European Union membership, adding his backing to an idea known as a “People’s Vote”.


Hanover to sell specialty unit Chaucer to China Reinsurance for $950 m

Views - 17 Monday, 17 September 2018 00:00

Reuters - Hanover Insurance Group Inc last week decided to sell its unit that underwrites risks at insurance market Lloyd’s to China Reinsurance Group Corp for $950 million to focus on expanding its domestic business.


AIG’s lost decade is not yet behind it

Views - 21 Monday, 17 September 2018 00:00

NEW YORK (Reuters Breakingviews) - Anyone who has held shares in American International Group since the end of 2007 is still nursing a 95% stock-price loss.


Australian insurer hired a private eye to survey mentally ill woman

Views - 30 Monday, 17 September 2018 00:00

SYDNEY (Reuters) - An Australian life insurer paid a private investigator who covertly filmed a mentally-ill woman eating breakfast, holding hands with her partner and undressing at a swimming pool in a bid to find evidence to avoid paying her claim,


HDFC Bank signs MOU with Sanasa Insurance

Views - 24 Monday, 17 September 2018 00:00

HDFC Bank recently signed an MOU with Sanasa Insurance Company Ltd. in respect of granting life and total permanent disability insurance protection to the bank’s loan customers


Janashakthi Life continues to expand its footprint around the island

Views - 19 Monday, 17 September 2018 00:00

Continuing to forge ahead with the expansion of its dedicated Life branch network, Janashakthi Insurance PLC unveiled 8 new Janashakthi Life branch offices in the towns of Ambalangoda, Anuradhapura, Galle, Kalutara, Kurunegala, Padukka, Panadura, and


NAFLIA 2018 looks to future of Insurance – Beyond 2020

Views - 24 Monday, 17 September 2018 00:00

The theme of the ninth National Forum for Life Insurance Advisors, also known as NAFLIA 2018, ‘Life Insurance Advisor – Beyond 2020’ rang out loud and clear in every item of the event’s agenda.


DMS unveils highly rated, lowest cost Diebold Nixdorf ATM

Views - 96 Monday, 17 September 2018 00:00

Although the frequency of non-cash payments is growing, cash retains its status as the world’s number one method of payment with 9 out 10 payment transactions being handled in cash worldwide with the total volume of global cash withdrawals from ATM


CMA Sri Lanka certificate program on ‘Forensic Accounting & Financial Frauds’

Views - 98 Monday, 17 September 2018 00:00

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a certificate program on ‘Forensic Accounting & Financial Frauds’ in association with Gujarat Forensic Sciences University, Gujarat, India from 20-22 September from


NDB GoodLife cardholders can enjoy discounts up to 15% at duty free

Views - 27 Monday, 17 September 2018 00:00

NDB GoodLife credit cardholders are now eligible to enjoy substantial savings on purchases made at Duty Free by Dufry at the Bandaranaike International Airport (BIA).


DFCC Bank crowned one of Sri Lanka’s ‘Most Admired Companies’

Views - 14 Monday, 17 September 2018 00:00

DFCC Bank has been included in the Top 10 list of the ‘Most Admired Companies of Sri Lanka’ competition conducted by the Chartered Institute of Management Accountants (CIMA) and the International Chamber of Commerce Sri Lanka (ICCSL), selected fr


A parallel upward shift of the overall yield curve

Views - 79 Monday, 17 September 2018 00:00

The secondary market bond yields increased across the yield curve during the week ending 14 September, driven by the outcome of the primary Treasury bills and bond auctions.


Janashakthi acquires 31% stake of Dunamis Capital for Rs. 1.4 billion

Views - 124 Friday, 14 September 2018 00:00

Janashakthi PLC (JPLC) yesterday announced the acquisition of 31.14% of the issued capital of Dunamis Capital PLC, the holding company of First Capital PLC and Kelsey Developments PLC, for Rs. 1.4 billion (Rs. 36.60 per share).The sellers were Nextve


DFCC Bank presented ‘Leading Partner Bank in Sri Lanka’ award by ADB

Views - 31 Friday, 14 September 2018 00:00

DFCC Bank was bestowed with the ‘Leading Partner Bank in Sri Lanka’ award by the Asian Development Bank (ADB) at its fourth annual Trade Finance Programme (TFP) Awards held on 4 September in Singapore. Over 200 guests from banks and other fina


Special gift from Amãna Bank to celebrate the joy of a newborn

Views - 26 Friday, 14 September 2018 00:00

The moment you see those tiny little hands, small feet and cute little eyes looking at you, is a moment of happiness beyond description. The birth of a child is surely a significant occasion in any parent’s life, and from that point onwards every p


Pan Asia Bank conducts raffle draw for credit cardholders

Views - 98 Friday, 14 September 2018 00:00

Pan Asia Bank recently conducted a raffle draw to reward its loyal credit cardholders. In order to qualify for the raffle draw cardholders only had to use their credit card for Rs. 5,000 or more during a calendar month. A monthly winner was eligible


Add more to life with every swipe of People’s Bank credit cards for 0% interest at leading merchants

Views - 24 Friday, 14 September 2018 00:00

People’s Bank has launched an exciting promotional campaign for its credit card holders, which adds more value to their lives through amazing discounts at leading lifestyle stores. The promotion ends on 31 October. People’s Bank credit card holde


Siyapatha Finance opens brand new branch in Kiribathgoda

Views - 38 Friday, 14 September 2018 00:00

In a bid to extend their services to the entrepreneurs and the general public in the area, leading financial organisation, Siyapatha Finance PLC celebrated opening of a brand new branch in Kiribathgoda recently. A fully-owned subsidiary of the Sampa


HSBC awarded Best Consumer Digital Bank for 12th time by Global Finance

Views - 34 Friday, 14 September 2018 00:00

HSBC Sri Lanka has once again being recognised for its digital capabilities by winning the Best Consumer Digital Bank Country Award by Global Finance at the Best Digital Bank Awards 2018. This is the 12th time that HSBC has won this prestigious award


Phase III of T. Bond auction system unlocked for the first time 

Views - 70 Friday, 14 September 2018 00:00

By Wealth Trust Securities The mandatory phase III (Three) of the new Treasury bond auction system was accessed for the first time at its auctions held yesterday, since its introduction in July 2017. The total offered amount of Rs. 30 billion on the


Shares end flat, heavy trading on Dunamis Capital

Views - 40 Friday, 14 September 2018 00:00

Reuters: Shares closed flat near a two-week closing low on Thursday in heavy trading led by Dunamis Capital Plc which nearly doubled in value, even as foreign investors continued to trim their equity exposure for a second straight day. The Colombo st


Rupee touches record low

Views - 52 Friday, 14 September 2018 00:00

Reuters: The rupee hit a fresh low against the dollar on Thursday but sources said the market expects the currency to recover, tracking gains in other emerging market currencies. Hard-hit emerging market currencies were 0.43 percent stronger, helped


HNB recognised among top 10 ‘Most Admired Companies’

Views - 31 Friday, 14 September 2018 00:00

HNB Plc was recognised as one of Sri Lanka’s top 10 ‘Most Admired Companies’ at a glittering ceremony held recently. Jointly organised by the International Chamber of Commerce, Sri Lanka (ICCSL) and the Chartered Institute of Management Account


Sampath Bank among ‘Most Admired Companies of Sri Lanka 2018’

Views - 26 Friday, 14 September 2018 00:00

Sampath Bank was awarded and recognised as one of Sri Lanka’s 10 Most Admired Companies at the ‘Most Admired Companies of Sri Lanka 2018’ awards ceremony held under the auspices of Prime Minister of Sri Lanka Ranil Wickremesinghe, at the Shangr


Today's Columnists

East Container Terminal blunder: Learn from Chinese

Tuesday, 18 September 2018

Minister for Ports and Shipping Mahinda Samarasinghe informed the press in August that Cabinet has approved the development of East Container Terminal (ECT) of Colombo Port by the Ports Authority. According to approval: nPorts Authority would develop


President Sirisena, playing with fire, must take note that smoke will get into his eyes

Tuesday, 18 September 2018

Penchant for playing with fire President Gamaralalage Sirisena has always had a penchant for playing with fire. He did fire-play at the local government elections when he made a disastrous U-turn and went round country blasting the party and its lea


Response to claims that Sri Lanka was in a ‘debt trap’ in 2014 due to ‘Chinese loans’

Monday, 17 September 2018

Several Western analysts have carried out a relentless media campaign in keeping with their own geopolitical agenda, to suggest that China was luring Sri Lanka into a carefully engineered debt trap.


Understanding the debt trap: Nothing but simple arithmetic

Monday, 17 September 2018

Prime Minister Ranil Wickremesinghe, speaking recently at the World Economic Forum in Vietnam, denied that Sri Lanka was in danger of spiralling into a debt trap from excessive Chinese borrowings


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