Financial Services

China’s Central Bank says market to play decisive role in yuan exchange rate

Views - 25 Monday, 15 October 2018 01:35

Nusa Dua, Indonesia (Reuters): China’s Central Bank Governor Yi Gang said the government would continue to let the market play a decisive role in establishing its currency exchange rate, refraining from using it as a weapon, amid an escalating trad

Trade war won’t trigger Asian credit ratings downgrades, for now: Fitch

Views - 26 Monday, 15 October 2018 01:35

NUSA DUA, Indonesia (Reuters): Fitch Ratings has maintained its stable credit outlook for all Asian countries, except Pakistan, despite expecting some “dampening effect” in the region due to the US-China trade tensions, senior ratings analysts sa

Indonesia launches cash endowments-linked sovereign Islamic bonds

Views - 10 Monday, 15 October 2018 01:34

NUSA DUA, Indonesia (Reuters): The Indonesian Government launched on Sunday an Islamic bond linked to endowments, aiming to tap into a pool of assets for its fiscal needs.

ADB, other DFIs leveraged blended concessional finance to support $ 9 b in emerging markets

Views - 23 Monday, 15 October 2018 01:33

The Asian Development Bank (ADB), together with other development finance institutions (DFIs)1 last year, used about $1.2 billion in concessional funds to support nearly $9 billion in private investment projects in emerging markets.

Union Assurance expands operations in Thalawathugoda

Views - 20 Monday, 15 October 2018 00:00

Union Assurance (UA) expanded its fully-fledged branch network with the newly opened Thalawathugoda Regional Office on 26 September.

Sri Lanka Insurance driving towards digital era with B Connect App

Views - 37 Monday, 15 October 2018 00:00

Sri Lanka Insurance announced its latest digital feature, the B Connect App that connects all advisers of SLIC, enabling them to be informed of all updates real time.

Unparalleled financing solutions with Richard Pieris Finance

Views - 55 Monday, 15 October 2018 00:00

Richard Pieris Finance Ltd., the sole financing arm under the renowned Arpico brand, is a fully owned subsidiary of the Richard Pieris Group, one of the oldest diversified conglomerates in Sri Lanka.

Invest Sri Lanka promotion in UK concludes with first-ever event in Scotland

Views - 30 Monday, 15 October 2018 00:00

The ‘Invest Sri Lanka’ capital market road show, organised by the Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC), concluded on a positive note with institutional investors based in Edinb

Five-year bond yield spikes to over a 17-month high

Views - 117 Friday, 12 October 2018 00:00

The secondary market yield on the five-year maturity of 15.07.23 was seen spiking to over a 17-month high of 11.90%, a level last seen during late April to early May 2017, following the outcome of its auction conducted yesterday. The auction on this

Obtain pension on any day with Pan Asia Sammana Account

Views - 36 Friday, 12 October 2018 00:00

Pan Asia Sammana Account was specially introduced for all pensioners who have given their best years for the country and are now enjoying life in retirement. As a result of the increasing popularity of this product, the bank recently decided to add s

Ceylinco Life dominates IASL’s Life Insurance Awareness Month competition

Views - 27 Friday, 12 October 2018 00:00

Sales professionals of Ceylinco Life demonstrated their prowess in emphatic fashion at an industry-wide competition that concluded recently, taking the top spot, half of the top 10 places and nearly a quarter of the top 100 places. The competition wa

Bank of Ceylon Unawatuna branch shifts to new location

Views - 24 Friday, 12 October 2018 00:00

The Bank of Ceylon’s Unawatuna branch relocated at its new premises recently with the participation of Minister of Lands and Parliamentary Reforms Gayantha Karunathilaka and Minister of Home Affairs Vajira Abeywardena recently at a strategic locati

Govt. halts Samurdhi Bank takeover plan

Views - 64 Friday, 12 October 2018 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent The Government yesterday informed Parliament that it would not continue with the plan allowing the Central Bank to take over the Samurdhi (Divineguma) Bank, as stated by Prime Minister Ranil Wickreme

ComBank expands scope of its Green Loans, adds Green Leasing to support environment

Views - 82 Thursday, 11 October 2018 00:43

The Commercial Bank of Ceylon has announced an expansion of the scope of its ‘Green Loans’ to encompass technology and products that contribute to environment conservation and to include leasing of electric and hybrid vehicles. Previously limited

Invest Sri Lanka Forum in London draws interest and engagement among UK investors

Views - 137 Thursday, 11 October 2018 00:43

A large gathering of institutional investors based in London showed a keen interest in investing in Sri Lankan equities while attending an Invest Sri Lanka Forum held at the London Stock Exchange recently. The Forum, which was organised by the Colom

364-day bill weighted average jumps above 10% for first time in over 15 months 

Views - 100 Thursday, 11 October 2018 00:35

By Wealth Trust Securities The 364 day bill weighted average was seen jumping above the psychological level of 10.00% for the first time in over 15 months or 62 weeks at its weekly auction yesterday, registering an increase of 68 basis points to 10.1

Bond market at a standstill ahead of weekly bill auction 

Views - 79 Wednesday, 10 October 2018 00:00

By Wealth Trust Securities The activity in the secondary bond market was at a virtual standstill yesterday as yields increased on the back of widening two way quotes. Limited trades were seen on the 10-year maturity of 01.09.28 as its yield was seen

Fitch assigns Dialog Finance first-time ‘AA(lka)’ Rating; Outlook Stable

Views - 81 Wednesday, 10 October 2018 00:00

Fitch Ratings Lanka Ltd. has assigned Dialog Finance PLC (DF) a National Long-Term Rating of ‘AA(lka)’. The Outlook is Stable. Key rating drivers were as follows: National ratings: DF’s rating reflects Fitch’s view that support would be fo

Amãna Bank partners with CIMA Business Leaders’ Summit 2018

Views - 58 Wednesday, 10 October 2018 00:00

Amãna Bank recently partnered with the Chartered Institute of Management Accountants (CIMA) Sri Lanka for their flagship event CIMA Business Leaders’ Summit 2018 held under the theme ‘Go Beyond: From Insight to Impact – Unlocking Opportunities

Commercial Bank launches Affinity Card for Dharmasoka College, Ambalangoda

Views - 38 Wednesday, 10 October 2018 00:00

Members of the Old Boys’ Association of Dharmasoka College, Ambalangoda, one of the leading schools in the Southern Province, can now own co-branded Mastercard Credit Cards, thanks to the Commercial Bank of Ceylon. The Dharmasoka College Affinity

People’s Bank digital journey sets benchmark at National IT Conference

Views - 468 Wednesday, 10 October 2018 00:00

Consolidating its position as a digital financial services provider, People’s Bank set the benchmark for digital financial services in Sri Lanka at the recently concluded National IT Conference (NITC) 2018. Organised by the Computer Society of Sri

Bond yields increase on back of sluggish sentiment 

Views - 91 Tuesday, 9 October 2018 00:00

By Wealth Trust Securities The secondary bond market opened the week on a sluggish note as yields were seen increasing and widening yesterday as activity moderated considerably. Limited trades were seen on the seven year maturity on 15.10.25 and the

Fairfirst Insurance ties up with Dept. of Posts for extended reach

Views - 199 Tuesday, 9 October 2018 00:00

Fairfirst Insurance recently tied up with the Department of Posts in an agreement that allows Fairfirst to transact general insurance via the extensive postal network in Sri Lanka. The agreement which was signed for a period of three years will comme

Cargills Bank offers higher returns for fixed deposits, encourages long term savings

Views - 127 Tuesday, 9 October 2018 00:00

Cargills Bank has introduced an attractive interest rate for the five years fixed deposit product in addition to the recently introduced higher interest rate on the one year fixed deposit product with the intention of enticing customers for better lo

Secondary market bond yields fluctuate during the week

Views - 100 Monday, 8 October 2018 00:00

The secondary bond market witnessed a round of fresh buying interest during the week ending 5 October subsequent to the monetary policy announcement at where policy rates were kept unchanged against market expectations.

Lucky COMBANK Credit Cardholders to have balances wiped out

Views - 73 Monday, 8 October 2018 00:00

Fortune will smile on lucky credit card holders of Commercial Bank with the launch of a new ‘’COMBANK Credit Card Balance Wiped-off’ campaign which will wipe out a total of Rs. 5.25 million in credit card spends over the next three months.

Five Nations Mobile Banking customers win GoPros in August promo

Views - 43 Monday, 8 October 2018 00:00

As part of its ongoing efforts to encourage consumers to use digital banking services, Nations Trust Bank rewarded five lucky customers who used Nations Mobile Banking; a convenient, user-friendly banking app that uses the latest cutting-edge technol

New appointment to NTB Board

Views - 422 Monday, 8 October 2018 00:00

Nations Trust Bank PLC has announced the appointment of Sumit Maheshwari to its Board of Directors with effect from 4 October, as a Non-Executive Director.

Saudi misses out on joining anti-illicit funding body FATF for now

Views - 13 Monday, 8 October 2018 00:00

DUBAI (Reuters): Saudi Arabia has missed out on gaining full membership of the Financial Action Task Force (FATF) after the global body dedicated to fighting illicit money flows found the Kingdom fell short in combating money laundering and terror fi

New Chairman of Regional Development Bank assumes duties

Views - 40 Monday, 8 October 2018 00:00

Sujith Prasanna Kariyawasam, Attorney-at-Law, assumed duties as the new Chairman of the Regional Development Bank at the auspicious time on 1 October amidst chanting of pirith by the Maha Sangha.

Today's Columnists

Finishing the job of ending poverty in South Asia

Thursday, 18 October 2018

“I have a four-year-old son back in my village. I want to make a better life for him,” says Sharmin Akhtar, a 19-year-old employee in one of Dhaka’s many flourishing garment factories. Like thousands of other poor women, Sharmin came down to B

Depreciating rupee: Avoiding a money-go-round

Wednesday, 17 October 2018

Sri Lanka’s excessive reliance on foreign capital to finance investment under favourable external financial conditions is now leading to disruptions, as those conditions change in a decisive interest rate tightening phase in the United States. As U

Responsible water stewardship in Sri Lanka

Wednesday, 17 October 2018

Unlike many of our regional neighbours, Sri Lanka is blessed with an abundant water table. However, many companies do not feel the full value of this precious resource due to the limited regulation and monitoring of fresh water extraction for busines

Economy in disarray, banks flourishing; can this be true?

Wednesday, 17 October 2018

It is earlier reported that the growth in bank credit accelerated in August despite the tight credit and money conditions and rising non-performing loans in the banking sector. It is further reported that the year-on-year (YoY) growth in credit accel

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