Financial Services

DFCC Bank opens refurbished Contact Centre in Malabe to strengthen customer service experience

Views - 65 Wednesday, 22 January 2020 02:07

DFCC Bank PLC, Sri Lanka’s fully-fledged, dynamic commercial bank recently opened its doors to a state-of-the-art call centre in the bustling suburb of Malabe. This Contact Centre can have over 100 dedicated agents capable of engaging with custome

Siyapatha Finance relocates Nugegoda branch

Views - 42 Wednesday, 22 January 2020 02:06

Siyapatha Finance relocated its Nugegoda branch to No. 181 – 1/1 Stanley Thilakarathne Mawatha recently. The new location ensures easier access for customers while enabling the Siyapatha team with more opportunity to better serve them. Siyapatha F

Special ‘7 Year Leasing’ only from Pan Asia Bank

Views - 47 Wednesday, 22 January 2020 02:05

Pan Asia Bank, which has earned a strong reputation for its novel leasing solutions, has introduced ‘7 Year Leasing’ yet another novel leasing option that offers unique benefits to customers. ‘7 Year Leasing’ is specially designed to make cus

Apple’s Cook says global corporate tax system must be overhauled

Views - 29 Wednesday, 22 January 2020 02:03

DUBLIN (Reuters): Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration. The growth of internet giants such as

Bond yields decrease marginally ahead of weekly bills auction

Views - 67 Wednesday, 22 January 2020 02:02

By Wealth Trust Securities The secondary bond market yields were seen decreasing marginally yesterday ahead of today’s weekly Treasury bill auction. Buying interest on the 2023’s (i.e. 01.09.23 & 15.12.23) and 2024’s (i.e.15.06.24 & 15.09.24) s

Stock market turns positive but turnover low

Views - 39 Wednesday, 22 January 2020 02:01

The Colombo stock market turned positive yesterday though turnover remained low and foreigners continued to sell. Acuity Stockbrokers said that the Bourse ended on a positive note as the ASPI increased by 0.14% or 8.13 points to close at 5,914.33 po

Wall Street rally pauses amid China virus outbreak, growth fears

Views - 23 Wednesday, 22 January 2020 02:01

Reuters: US stock indexes slipped on Tuesday as worries about the fallout from a deadly virus outbreak in China and a gloomy growth outlook from the IMF paused a record-setting rally on Wall Street. The developments soured the mood for US investors r

Speaker to announce final decision on release of CB forensic audit reports today

Views - 148 Tuesday, 21 January 2020 00:00

Speaker Karu Jayasuriya will announce his decision today on the release of the forensic audit reports prepared as part of the investigation into the Central Bank bond scam, officials sources said. Both Government and Opposition MPs have urged the Spe

Seylan Bank enables multicurrency transactions for LEADS

Views - 184 Tuesday, 21 January 2020 00:00

With a mission to empower and foster the growing financial needs in the country for charitable organisations, Seylan Bank joined hands with LEADS to enable multicurrency donation acceptance for the first time in Sri Lanka.  This partnership will ena

Zarook new Chairman at Insurance Regulatory Commission

Views - 557 Tuesday, 21 January 2020 00:00

Senior Attorney-at-Law and President’s Counsel, former diplomat Razik Zarook has been appointed as the Chairman of the Insurance Regulatory Commission of Sri Lanka. Previously he had served several State institutions including as Chairman of Bank

Stock market opens new week bearish

Views - 41 Tuesday, 21 January 2020 00:00

The Colombo stock market opened a new week with bearish sentiments midst low turnover and foreign outflow. Acuity Stockbrokers said the Bourse ended on a negative note today as the ASPI decreased by 0.45% or 26.72 points to close at 5,906.20 points,

Bond yields close broadly steady

Views - 65 Tuesday, 21 January 2020 00:00

The fresh trading week commenced on a moderate note yesterday as trades were seen taking place within a very narrow range and closing the day broadly steady. The yields of the liquid 01.09.23 and two 2024s (i.e. 15.06.24 and 15.09.24) maturities wer

100 years of banking in Sri Lanka: Commercial Bank celebrates a century of supporting the nation

Views - 79 Tuesday, 21 January 2020 00:00

The Commercial Bank of Ceylon celebrates 100 years of banking in Sri Lanka and in its citizens, and a century of indispensable support to the national economy in 2020, and has begun its centenary year with a staff gathering of unprecedented scale. Th

CIMA Global President visits HNB

Views - 52 Tuesday, 21 January 2020 00:00

Amal Rathnayke, the 86th Global President of the Chartered Institute of Management Accountants (CIMA), currently on an official visit in Sri Lanka, visited HNB Headquarters on Monday to meet with the CIMA members of the bank. The CIMA President disc

Sri Lanka Insurance equips Motor Technical Officers with motorcycles

Views - 33 Tuesday, 21 January 2020 00:00

Sri Lanka Insurance on Friday distributed motorcycles to its Motor Technical Officers at its head office. The event was graced by Chairman Jagath Wellawatta, Chief Executive Officer Chandana L. Aluthgama and the senior management of SLIC. As the mar

Sampath Bank relocates Katugastota offsite ATM with added facilities

Views - 28 Tuesday, 21 January 2020 00:00

Sampath Bank relocated its Katugastota offsite ATM previously located at No. 274/A, Katugastota Road, Kandy to No. 253 and 249/7, Katugastota Road, Kandy (opposite Siyapatha Finance). The new location has been upgraded to a Digitalised Banking Zone,

Ceylinco Life opens its newest green branch in Malabe

Views - 18 Tuesday, 21 January 2020 00:00

Ceylinco Life began 2020 on a green note with the opening of a purpose-designed environment-friendly building in Malabe from which the company’s Malabe, Battaramulla and Kaduwela branches will henceforth operate. The new three-storey edifice is th

First Capital Treasuries to raise Rs. 750 m via listed debenture

Views - 86 Monday, 20 January 2020 03:23

First Capital Treasuries PLC will be raising Rs. 750 million via an issue of listed, rated, subordinated, unsecured and redeemable debentures of Rs. 100 each. Its official opening is on 27 January but investors subscribe to it from 21 January. Joint

PABC goes for Rs. 1.2 b unlisted debenture issue

Views - 66 Monday, 20 January 2020 03:23

Pan Asia Banking Corporation PLC (PABC) is going for a Rs. 1.2 billion unlisted debenture issue. The bank said its Board of Directors has resolved to issue 7.5 million BASEL III compliant Tier 2, unlisted, unsecured, subordinated, redeemable five ye

Union Assurance unveils ‘Union Lifestyle Bonus’

Views - 52 Monday, 20 January 2020 03:23

Union Assurance (UA) has been empowering Sri Lankans with innovative life insurance solutions that provide protection and a secure future. Further fulfilling aspirations of existing and potential Union Assurance policyholders to enjoy the year 2020 t

AIA Insurance industry first to launch fully automated and integrated IVR

Views - 51 Monday, 20 January 2020 03:22

AIA Insurance is happy to introduce its latest customer convenience initiative – automated call centre services. This sees the application of a new and sophisticated, fully automated and integrated IVR (Interactive Voice Response) system to the Inb

Bonds trade within a narrow range

Views - 86 Monday, 20 January 2020 03:13

The positive momentum in the secondary bond market continued during the week ending 17 January driven by the impressive outcomes at the primary bond auctions along with the increase in the foreign holding in rupee bonds for a second consecutive week.

New ADB President Masatsugu Asakawa assumes office

Views - 31 Monday, 20 January 2020 03:11

Masatsugu Asakawa assumed office as the 10th President of the Asian Development Bank (ADB) last week. “I am honoured to assume the role of ADB President and to begin working in close co-operation with our 68 members. ADB has been a trusted partner

Wasanthi Manchanayake assumes duties as new Chairperson of HDFC Bank

Views - 80 Monday, 20 January 2020 03:09

R.M.R.W. Manchanayake assumed duties as the new Chairperson of HDFC Bank recently at the bank’s Head Office, Colombo 02. HDFC CEO and General Manager Palitha Gamage, Chief Operations Officer M.K. Nambiyarooran and members of the corporate managemen

In search of a virus guard: Quarantine greed and corruption in finance

Views - 315 Friday, 17 January 2020 00:07

An eminent economist; Prof. W.D. Lakshman has been appointed as the new Governor of Central Bank of Sri Lanka. At the outset, President Gotabaya Rajapaksa seems to carefully select professionals to lead the poorly managed State-owned institutions in

KPMG Academy elucidates on recent tax reforms and obligations

Views - 132 Friday, 17 January 2020 00:00

The KPMG Academy conducted a seminar on Tuesday, 14 January at the Ramada Colombo on the recent tax reforms implemented by the regulatory authorities. KPMG Principal – Tax and Regulatory Suresh Perera presented a detailed analysis on the various ch

Seminar on ‘Deferred Taxation’

Views - 353 Friday, 17 January 2020 00:00

The KPMG Academy has organised a seminar on ‘Deferred Taxation: Complications Stemming from the New Inland Revenue Act’ on 22 January at Hotel Ramada from 2.00 p.m to 5.00 p.m. The seminar will include presentations by KPMG Accounting and Adviso

IFAC President to be Keynote Speaker at CMA – Sri Lanka Conference on 24 Jan.

Views - 137 Friday, 17 January 2020 00:00

International Federation of Accountants (IFAC) President Dr. In-Ki Joo, on his visit to Sri Lanka, will inaugurate the CMA – Sri Lanka Conference, and deliver the keynote address on the theme ‘Financial and Cost and Management Accounting for Deve

CIMA Global President rings opening bell at CSE

Views - 57 Friday, 17 January 2020 00:00

CIMA Global President and Association of International Certified Professional Accountants Chairman Amal Ratnayake yesterday rang the opening bell of the Colombo Stock Exchange. CSE Chairman Ray Abeywardena, CIMA Country Network Chair Zahara Ansary, C

Watchdog to watch the watchdog

Views - 184 Friday, 17 January 2020 00:00

For a small time investor starting to be involved in the Sri Lanka stock market this year, 2020, the starting point is to carry out research into the companies and to identify the opportunities available (or where we could have an arbitrage gain). T

Today's Columnists

Strategies towards the vision of ‘Clean Country – Green Environment’

Tuesday, 28 January 2020

Sri Lanka is a small island in South Asia. In early times, it was named the Pearl of the Indian Ocean. But what is happening to the pearl now? As a result of urbanisation and increase of population, environmental issues related to solid waste are inc

Has Sri Lanka really understood India’s economic potential?

Tuesday, 28 January 2020

India, a land with a diverse culture and heritage, is no doubt the centre of the South Asia that can take rest of the countries surrounding it to greater economic prosperity within the next few decades. This article is not a technical analysis of Ind

A challenge for President Gotabaya Rajapaksa: The societal, economic and political debt

Tuesday, 28 January 2020

The challenges before President Rajapaksa in balancing and striving towards balancing the societal, economic and political balance sheets is enormous. Although shown separately, these three are interconnected and interdependent, therefore requiring a

Gota’s ‘Viyathmaga’ to the future

Tuesday, 28 January 2020

Any critical assessment of President Gotabaya Rajapaksa must take into consideration the salient characteristics that make him stand out from the run-of-the-mill politicians who had occupied the peaks of power.

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