Financial Services

Promoting fintech

Views - 80 Tuesday, 7 May 2019 00:00

The Fintech Meetup of the Asia - Pacific Executives Forum, jointly organised by the Fintech Association of Sri Lanka (FASL), was recently held at the Hilton Colombo.  Central Bank of Sri Lanka (CBSL) Payments and Settlements Department Director D. K

Ceylinco Life ranked ‘Most Valuable Life Insurance Brand’ in Sri Lanka in 2019

Views - 26 Tuesday, 7 May 2019 00:00

Ceylinco Life has been ranked the most ‘Valuable Life Insurance Brand’ in Sri Lanka in 2019 in the 16th edition of the Brand Finance rankings of the country’s Most Valuable Brands. Sri Lanka’s life insurance market leader for the past 15 year

BOC: No. 1 banking brand and only Sri Lankan bank to cross over Rs. 50 b brand value

Views - 43 Tuesday, 7 May 2019 00:00

Bank of Ceylon, whilst becoming the first bank to exceed Rs. 50 billion in brand value, has retained its position as the No. 1 banking brand in the banking sector according to Brand Finance Lanka’s ‘The Brand Annual 2019’ published by Media Ser

NDB conferred 5 awards in major categories by Global Banking & Finance Review, UK

Views - 21 Tuesday, 7 May 2019 00:00

Global Banking & Finance Review is a leading magazine that provides quality and in-depth insight to leading players and key figures with up to date information within the finance sector. The magazine honours institutions that stand out in their parti

Frontrunners of HNBA prepare for MDRT 2019

Views - 21 Tuesday, 7 May 2019 00:00

HNB Assurance PLC (HNBA) recently announced its Million Dollar Round Table qualifiers. The top achievers will represent the company at the MDRT conference along with the crème of the global insurance industry. The conference will be held in Miami Be

Seylan Bank sweeps 2 Gold awards at SLIM Digis 2019

Views - 141 Tuesday, 7 May 2019 00:00

Reiterating its digital phenomenon, The Bank with a Heart conquered two Gold awards at the first-ever SLIM Digis 2019, which concluded at the Waters Edge recently. Organised by the Sri Lanka Institute of Marketing, the SLIM Digis is aimed at recogni

People’s Bank’s premier status in Asia-Pacific validated by influential awards

Views - 32 Tuesday, 7 May 2019 00:00

Gaining global recognition from the international banking fraternity, People’s Bank was recently bestowed with two prominent awards on the global banking platform. The first prestigious award as the ‘Best Retail Bank in Sri Lanka’, Digital Ban

ADB’s private sector operations commitments reach record $ 3.1 b in 2018

Views - 27 Monday, 6 May 2019 00:00

NADI, FIJI: The Asian Development Bank’s (ADB) private sector operations in 2018 climbed by 37% to reach a record high $ 3.1 billion, lifting ADB’s overall portfolio of private sector operations to $ 12.4 billion, according to the bank’s Develo

Vallibel Finance Kiribathgoda branch gets a brand new look

Views - 26 Monday, 6 May 2019 00:00

Financial trailblazer Vallibel Finance gave its Kiribathgoda branch a facelift and relaunched the familiar ‘red and white’ centre of excellence at No. 121, Kandy Road, Kiribathgoda, reaffirming its commitment to the bustling suburb. The moderni

Asia powers HSBC as 1Q pre-tax profit jump 31% to $ 6.2 b

Views - 23 Monday, 6 May 2019 00:00

HONG KONG, (REUTERS): HSBC Holdings PLC smashed forecasts with a 31% rise in first quarter profit, bolstered by a surge in income from its core Asian business and lower costs that outweighed a poor performance from investment banking. The promising

Secondary bond market turns bullish

Views - 88 Monday, 6 May 2019 00:00

The secondary bond market commenced the week ending 3 May 2019 on a positive note reversing its negative sentiment which prevailed the previous week, driven by the robust outcomes at the two Treasury bond auctions at the start of the week and a conti

Frontier market debt burden rises to $3.2 t in 2018: IIF

Views - 47 Friday, 3 May 2019 00:00

LONDON (Reuters): Smaller and riskier emerging markets hit $3.2 trillion in debt at the end of 2018, but hard currency issuance by governments and companies slowed, an Institute of International Finance (IIF) report showed on Tuesday. Debt owed by g

ADB continues to deliver development results for Asia and Pacific

Views - 27 Friday, 3 May 2019 00:00

Nadi, Fiji: The Asian Development Bank (ADB) continues to deliver on its goal of achieving a more prosperous, inclusive, resilient, and sustainable Asia and the Pacific through increased development finance, more efficient strategic operations, and e

US Fed sees no strong case for hiking or cutting rates

Views - 27 Friday, 3 May 2019 00:00

WASHINGTON (Reuters): The US Federal Reserve on Wednesday held interest rates steady and signaled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge h

ASEAN+3 bond markets more developed than ever says ADB

Views - 19 Friday, 3 May 2019 00:00

Nadi, Fiji: The 10 economies of the Association of Southeast Asian Nations plus the People’s Republic of China (PRC), Japan, and the Republic of Korea (ASEAN+3) are now better placed than they have ever been to withstand any global liquidity crunch

Central bank binge buying fuels red-hot gold demand: WGC

Views - 30 Friday, 3 May 2019 00:00

LONDON (Reuters): Strategic buying by central banks helped push global gold demand up 7% in the first quarter of 2019, the World Gold Council (WGC) said on Thursday. Central banks seeking to diversify their reserves bought a total of 145.5 tonnes of

Rupee falls for sixth session; stocks snap 5-day losing streak

Views - 76 Friday, 3 May 2019 00:00

REUTERS: The Sri Lankan rupee fell for the sixth consecutive session on Thursday on dollar demand from banks amid security alerts on possible further attacks after the Easter Sunday bombings. Stocks closed lower for the first time in six sessions.

Asian stocks rally for fourth successive month in April

Views - 19 Friday, 3 May 2019 00:00

REUTERS: Asian stocks rose for the fourth straight month in April, bolstered by China’s better-than-expected economic data and on optimism that the United States and China are inching towards a trade deal. In April, the MSCI’s broadest index of

Seylan Bank reports 11% yoy growth in 1Q 2019; records PAT of Rs. 903 m

Views - 78 Friday, 3 May 2019 00:00

Seylan Bank made a steady start in 2019 by posting a Profit after Tax of Rs. 903 million in Q1 despite less-than-ideal market conditions. Net interest income increased by 5.17% during the 1Q 2019 while net fee and commission income from core banking

HNBA honours its conquerors at Annual Sales Convention

Views - 30 Friday, 3 May 2019 00:00

HNB Assurance PLC (HNBA) felicitated the dazzlers of the Advisor Force at the recently held Annual Sales Convention. The 14th Sales Convention of HNBA was held at the Hilton, Colombo. This night of celebration was attended by HNBA and its fully-owne

ComBank’s ‘Flash’ becomes Sri Lanka’s first multilingual digital banking app

Views - 78 Friday, 3 May 2019 00:00

Less than a year after it was launched, Commercial Bank’s ground-breaking digital banking account ‘Flash’ has been launched in Sinhala and Tamil, making it Sri Lanka’s first trilingual digital banking app. Developed in partnership with Kashmi

Bond yields continue to tumble

Views - 91 Friday, 3 May 2019 00:00

By Wealth Trust Securities The sentiment in the secondary bond market remained positive yesterday as buying interest continued across the yields curve. The liquid 2023s (i.e. 15.03.23, 15.05.23, 15.07.23, 01.09.23 and 15.12.23), 15.03.24, 01.08.26 an

Standard Chartered flags turnaround progress with $1 billion share buyback plan

Views - 33 Thursday, 2 May 2019 02:22

HONG KONG/LONDON (Reuters): Standard Chartered unveiled plans for an up to $1 billion share buyback, its first such in at least 20 years, and posted a 10% rise in quarterly profit, signalling the bank was seeing early success in its growth turnaround

HSBC shakes up under-pressure global banking business

Views - 50 Thursday, 2 May 2019 02:21

LONDON (Reuters): HSBC has reshuffled its global banking division as former JP Morgan banker Greg Guyett put his stamp on the business, which has been under pressure in recent years. Under Guyett, who took on responsibility for the business in Februa

EU accepts Visa and Mastercard fees offer to end antitrust probe

Views - 29 Thursday, 2 May 2019 02:20

Brussels, Reuters: The European Union has accepted an offer by Visa and Mastercard to cut fees on payments made by tourists using cards issued outside the bloc to stave off fines and end an EU antitrust investigation. The European Commission, which

Stronger spending powers Mastercard profit, revenue beat

Views - 31 Thursday, 2 May 2019 02:20

Reuters: Mastercard Inc. on Tuesday beat quarterly profit and revenue estimates, as a strong U.S. job market, rising wages and surge in online shopping boosted transaction volumes, sending shares of the world’s second largest payments processor to

Societe Generale resigns as London gold market maker

Views - 19 Thursday, 2 May 2019 02:19

London (Reuters): The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold, as France’s third-largest bank pushes ahead with a downsizing of its commodities business. SocGen said this month it would

Delegates gather in Nadi, Fiji, for ADB’s 52nd Annual Meeting

Views - 14 Thursday, 2 May 2019 02:16

NADI, FIJI: Participants have gathered in Nadi, Fiji, for the 52nd Annual Meeting of the Asian Development Bank’s (ADB) Board of Governors, which got under way yesterday. Finance ministers, central bank governors, government officials, private sect

Trump sues Deutsche Bank

Views - 42 Thursday, 2 May 2019 02:16

Reuters: US President Donald Trump, three of his children and one of his companies filed a federal lawsuit Monday against Deutsche Bank and Capital One Financial Corp to block the banks from complying with federal subpoenas investigating his financia

China Big Five banks post modest profit growth amid loan push

Views - 21 Thursday, 2 May 2019 02:15

Beijing/Singapore (Reuters): China’s five biggest state-owned banks posted a modest growth in quarterly profit as policymakers pushed them to make more loans, but the results still missed expectations amid the lingering impact of an economic slowdo

Today's Columnists

Is Sri Lanka under the dominance of a powerful cabal?

Saturday, 15 June 2019

There is a saying that “A fish rots from the head”. That is the expression used when a country’s leadership is seen as responsible for violence and unethical behaviour of its supporters and the citizens in general - agitating the majority commu

Behind the scenes

Saturday, 15 June 2019

We see and hear many things happening on the stage. Some we only hear about and do not see. More things are happening without being seen clearly. An observation with extensive view and survey will be the only means of bringing to light the true natur

My way or the Huawei: global battle for 5G dominance and its impact on Sri Lanka

Friday, 14 June 2019

The ongoing battle between the US and the Chinese tech giant Huawei is escalating due to both parties’ eagerness to dominate 5G technology, the next major global technological revolution. It will define the future of the World Wide Web, creating a

Plunder of public property by rulers

Friday, 14 June 2019

While the failure to build the modern nation has been the prime factor that had caused the wretchedness of Sri Lanka, plundering of public property by rulers when they are under their custody can be considered the next vital factor that had exacerbat

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