Financial Services

Episode One Australia partner Double Entry to provide accounting services to Australia

Views - 32 Tuesday, 18 June 2019 00:00

Episode One Ltd., a registered tax agent and consultant based in Australia, recently teamed up with Double EntryLtd., a reputed accounting firm in Sri Lanka to provide back-office accountancy and tax related services to companies based down under. Th

Long-awaited London-Shanghai share listing project goes live

Views - 32 Tuesday, 18 June 2019 00:00

LONDON (Reuters): Companies listed in Britain will be able to sell shares in China on Monday with the launch of a long-awaited London-Shanghai Stock Connect project that finance minister Philip Hammond called a chance to deepen “global connectivity

SDFL’s e-commerce initiatives to empower customers

Views - 63 Tuesday, 18 June 2019 00:00

The Sarvodaya Development Finance (SDFL) which always sets its goals on giving the most innovative services to its customer has come up with several novel methods for the convenience of its customers. This is part of the SDFL’s e-commerce initiativ

Seylan Bank official banking partner for Construct Expo 2019

Views - 25 Tuesday, 18 June 2019 00:00

Reiterating its trust and confidence as the bank that has empowered thousands of people to fulfil their housing dreams, Seylan Bank has extended its sponsorship as the official banking partner for the Construct Expo 2019 for the fourth consecutive ye

HNB partners IFS to issue exclusive co-branded credit cards

Views - 88 Tuesday, 18 June 2019 00:00

Sri Lanka’s leading private sector bank, HNB PLC, partnered with multinational enterprise software company IFS Sri Lanka to issue cobranded Visa Credit Cards which are anchored to a slew of exclusive incentives and benefits to its clientele and sta

Cargills Bank introduces ‘I’: First-ever image credit card in Sri Lanka

Views - 374 Tuesday, 18 June 2019 00:00

Cargills Bank once again proved its agility and commitment to digital empowerment and financial inclusion with the launching of ‘I’, Sri Lanka’s first ever image credit card. The new image card enables customers to customise their physical cre

Pan Asia Bank offers patriotic branded mug in latest savings and fixed deposits campaign

Views - 35 Monday, 17 June 2019 00:00

As one of Sri Lanka’s fastest growing banks, Pan Asia Bank is positioned as a highly customer-centric bank, fulfilling customer needs through its unique products and services portfolio, while recognising and appreciating customer loyalty with benef

HNB Finance enables utility, other bill payments for customers via mCash billing platform

Views - 51 Monday, 17 June 2019 00:00

Sri Lanka’s national mobile service provider, Mobitel, has joined hands with HNB Finance to enable the finance company’s customers to benefit from its mCash bill sharing solution. As a result of this strategic partnership, HNB Finance will facil

Volatile week ends on positive note

Views - 75 Monday, 17 June 2019 00:00

By Wealth Trust Securities The upward momentum of yields that prevailed in the secondary bond market during the early part of the week reversed towards the later part as a result of the successful outcomes of the primary auctions, where the Central

First Capital upgrades exchange rate outlook

Views - 145 Friday, 14 June 2019 00:00

First Capital has upgraded its outlook on the exchange rate given external and internal developments. As per the upgrade Exchange Rate Outlook for 2019E to $ 1: Rs. 180.0 (from 194.0) as the 65% Base Case scenario. Further, it is introducing a 12-mon

Stocks end at near 6-week high; rupee falls

Views - 65 Friday, 14 June 2019 00:00

Reuters: Sri Lankan shares rose for the fifth straight session on Thursday to end at a near six-week high on local buying, even as foreign investors continued exiting the island nation’s risky assets, while the rupee edged lower on importers’ dol

Primary Bond auction fully subscribed as yields dip

Views - 83 Friday, 14 June 2019 00:00

By Wealth Trust Securities The two Treasury bond auctions conducted yesterday, recorded impressive weighted average yields, with the total offered amount of Rs. 70 billion being fully subscribed. The two-year and four-month maturity of 15.10.2021 rec

4th CT CLSA Asia Frontier Forum concludes

Views - 119 Thursday, 13 June 2019 00:13

The fourth two-day CT CLSA Asia Frontier Forum concluded in Colombo enlightening foreign and local institutional investors with the latest assessment of macroeconomic fundamentals, Government policy and corporate earnings outlook. Despite challenges

Global stocks snap seven-day winning streak; US inflation next hurdle

Views - 31 Thursday, 13 June 2019 00:12

London (Reuters): World share markets snapped a seven-day winning streak on Wednesday as the White House took a tough line on trade talks with China, while an impending reading on US inflation was set to refine the odds of an early cut in interest ra

IMF’s Lagarde highlights potential disruptive nature of fintech

Views - 50 Thursday, 13 June 2019 00:12

FUKUOKA (Reuters): International Monetary Fund Managing Director Christine Lagarde warned on Saturday that the increasing presence of technology giants using big data and artificial intelligence could cause a significant disruption to the world’s f

Spooked public investors reach fork in risky road as asset growth slows

Views - 17 Thursday, 13 June 2019 00:12

LONDON (Reuters): Global public institutions including central banks, sovereign wealth funds and public sector pension funds are increasingly worried about a worldwide economic downturn and are taking divergent investment strategies to adapt. An ann

“Perfect storm” for dollar as bets on US rate cuts grow

Views - 34 Thursday, 13 June 2019 00:11

London, Reuters: The dollar fell on Wednesday as rising trade tensions between Washington and Beijing and growing bets on a US interest rate cut sapped investor demand for the currency. Against a basket of other currencies, the dollar edged 0.1% low

Bids for 364-day bill at primary auction rejected

Views - 82 Thursday, 13 June 2019 00:07

At yesterday’s weekly Treasury bill auction, all bids that were received for the 364-day maturity were rejected, with only an amount of Rs. 17.73 billion consisting of Rs. 6.8 billion on the 91-day and Rs. 10.9 billion on the 182-day maturities bei

NDB shines at ACCA Sri Lanka Sustainability Reporting Awards as Best in the Banking Sector

Views - 61 Thursday, 13 June 2019 00:06

National Development Bank PLC (NDB Bank) emerged as the Winner – Banking Sector, at the recently concluded Sustainability Reporting Awards of ACCA Sri Lanka for the reporting year 2017/2018. This awards program, an annual endeavour of ACCA Sri Lank

Chandula to speak at Fireside Chat at Uniterra Social Impact Investing Forum in Ghana

Views - 56 Thursday, 13 June 2019 00:03

Chandula Abeywickrema, the Chairman Lanka Impact Investing Network Ltd. (LIIN), Sri Lanka’s pioneering impact investing fund and the co-founder Ath Pavura is one of the key speakers at the Uniterra Social Impact Investing Forum that would be held i

Ceylinco Life policyholder families on ‘Family Savari’ in China

Views - 18 Thursday, 13 June 2019 00:01

Ten Sri Lankan families brought together by their life insurer Ceylinco Life spent four days in China recently, courtesy of the life insurance leader’s ‘Family Savari’ mega promotion. This was the third batch of Ceylinco Life policyholder famil

Bond yields decrease ahead of weekly bill auction

Views - 73 Wednesday, 12 June 2019 00:00

By Wealth Trust Securities  The secondary bond market yields decreased marginally yesterday, consisting mainly of the liquid maturities of 15.03.22, 15.03.23, 15.03.24, 01.08.26 and 15.01.27 to lows of 9.98%, 10.18%, 10.20%, 10.55% and 10.58% respec

Pan Asia Bank introduces Customs payments through retail internet banking

Views - 37 Wednesday, 12 June 2019 00:00

Pan Asia Bank recently introduced a facility to make real-time online payments to Sri Lanka Customs through its online banking. This value addition was introduced under Sri Lanka Customs’ implementation of an online payment platform as a partnersh

Standard Chartered appoints new Head of Retail Banking

Views - 133 Wednesday, 12 June 2019 00:00

Sheahan Arasaratnam has been appointed as the Head of Retail Banking in Sri Lanka with effect from 3 June subject to regulatory approval. With over 25 years of banking experience Sheahan was previously based in Nigeria as Consultant/General Manager,

NDB Leasing Centres open at Ratnapura and Kalutara

Views - 36 Wednesday, 12 June 2019 00:00

Two new NDB Leasing Centres were ceremoniously opened at the Kalutara and Ratnapura branches by NDB Assistant Vice President Leasing Ajith Senadheera and the senior management of the bank. The two NDB Leasing Centres which are NDB’s fourth and fif

G20 agrees to wrap up Big Tech tax rules by 2020

Views - 25 Wednesday, 12 June 2019 00:00

TOKYO (Reuters): Group of 20 finance ministers agreed on Sunday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a final communique issued by the bloc showed on Sunday. Facebook,

BOC opens new branch in Laggala

Views - 33 Wednesday, 12 June 2019 00:00

The Bank of Ceylon has entered the newly built Laggala Green Town, which replaced the old town that was submerged during the Moragahakanda Kalu-Ganga reservoir project. Laggala Green Town has been constructed following new urban concepts, incorporat

ComBank crowned ‘Best Trade Finance Bank in Sri Lanka’ by Asian Banker

Views - 42 Tuesday, 11 June 2019 00:22

The Commercial Bank of Ceylon has been awarded the prestigious title of ‘Best Trade Finance Bank in Sri Lanka’ at the 2019 Asian Banker Transaction Awards that recognise achievements in the competition for market share, product and operational ex

Stocks end at 1-week peak in thin trade; rupee edges higher

Views - 50 Tuesday, 11 June 2019 00:22

Reuters: Sri Lankan shares ended firmer for the second straight session on Monday in dull trade to hit a one-week closing high, while the rupee ended slightly stronger, market sources said. The benchmark stock index ended 0.47% firmer on Monday at 5

Orient Finance: Building on strength and consistent customer trust

Views - 70 Tuesday, 11 June 2019 00:21

In a world governed by uncertainties such as economic upheavals and unpredicted downturns, building customer confidence and meeting customer expectations remain key to success in financial markets. Stability and growth have been two key factors that

Today's Columnists

2 June 1941: Operation Barbarossa

Friday, 21 June 2019

The 22nd of June marks the 78th anniversary of the bloodiest conflict in human history, the titanic World War 2 struggle between Germany and Russia. In this clash of irreconcilable racial and ideological foes, no quarter was asked for, no quarter giv

The contemporary Nikaya system, the most unBuddhist legacy of Buddhism

Friday, 21 June 2019

The recent comments made by the Mahanayake of the Asgiriya Chapter of the Siam Nikaya hopefully will generate an objective discussion on the Buddhist institution and its role in Sri Lanka. The Venerable Mahanayake’s comments belied what Buddha beli

Laundering the Parliament

Friday, 21 June 2019

There are strict laws and rules in force to ensure the honesty and integrity of people’s representatives in all countries where there is a democratic system of governance. People’s representatives elected by public vote are prohibited to pursue b

SOFA/VFA: A worrying scenario

Friday, 21 June 2019

An unrestrained communal animosity towards ethnic and religious minorities, anchored in mythology and historical half-truths, and popularised by sections of the Buddhist clergy and a sectarian media have combined to drive Sri Lanka to a point where t

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