Financial Services

Lanka Century Investments proposes Rs. 2.5 b capital reduction to wipe off retained losses

Views - 57 Tuesday, 20 February 2018 00:05

Lanka Century Investments PLC Board of Directors has resolved to propose a Rs. 2.54 billion capital reduction initiative. The Company said it has a carry forward loss of Rs. 2.539 billion as at 31 March 2017 and the losses adversely affect the abili

Yields remain broadly steady as activity moderates

Views - 49 Tuesday, 20 February 2018 00:05

By Wealth Trust Securities Secondary bond market yields remained broadly unchanged yesterday, as activity moderated. A limited amount of trades consisting of the 01.03.21, 01.09.23 and the two 2026 maturities (i.e. 01.06.26 and 01.08.26) was witnesse

Fitch rates Commercial Bank’s Basel III Sub Debt ‘AA- (EXP)’

Views - 26 Tuesday, 20 February 2018 00:03

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures of up to Rs. 10 billion an expected National Long-Term Rating of ‘AA-(lka)(EXP)’. The debentures will

Nasdaq Dubai launches Abu Dhabi, Dubai equity index futures

Views - 16 Tuesday, 20 February 2018 00:00

ABU DHABI (Reuters) - In a move that could attract fresh money to the United Arab Emirates’ equity markets, the Nasdaq Dubai exchange launched futures contracts on Sunday covering the main indexes of the country’s two main stock markets in Abu Dh

MSCI asks India stock exchanges to reconsider anti-competitive measures

Views - 35 Tuesday, 20 February 2018 00:00

Reuters: Global index provider MSCI Inc. on 15 February “strongly suggested” that India’s three main stock exchanges reconsider their anti-competitive measures that restrict the accessibility of the Indian equity market to foreign exchanges. Th

Singapore Exchange to launch new Indian derivatives before NSE deal ends

Views - 12 Tuesday, 20 February 2018 00:00

(Reuters) - Singapore Exchange Ltd (SGX) said on Monday it will launch successor products to its flagship Indian equity index derivatives before the bourse’s licence agreement with the National Stock Exchange of India (NSE) expires in August 2018.

Volatility holds key to bank revenue revival from 2017 slump: survey

Views - 17 Tuesday, 20 February 2018 00:00

London (Reuters): Revenues at the world’s 12 biggest investment banks fell to their lowest levels since 2008 last year, a survey showed on 16 February, while a return to more volatile global markets in 2018 could be a mixed blessing for their busin

Indian banks may take more than $3 b hit from PNB fraud

Views - 35 Tuesday, 20 February 2018 00:00

NEW DELHI (Reuters) - Indian banks could take a hit of more than $3 billion from loans and corporate guarantees provided to diamond companies at the centre of a massive alleged fraud at the state-run Punjab National Bank, the tax department has estim

Asian shares extend global recovery, volatility subsides

Views - 7 Tuesday, 20 February 2018 00:00

Tokyo (Reuters): Asian shares ticked up on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs. MSCI’s broadest index o

WhatsApp to go ahead with ‘full feature’ money transfer service in India

Views - 170 Tuesday, 20 February 2018 00:00

MUMBAI (Reuters): WhatsApp will launch a “full feature” inter-bank money transfer service in India, its biggest market, after a test involving a million users, National Payments Corp of India said. Friday’s statement marks the de facto official

Colombo Bourse steady in dull trade; political woes weigh

Views - 25 Tuesday, 20 February 2018 00:00

Reuters: Sri Lankan shares ended steady yesterday in thin trade, amid political uncertainty after both parties in the ruling coalition suffered defeats in a local election earlier this month. Turnover stood at Rs. 288.4 million ($1.9 million), well

Rupee falls on importer dollar demand

Views - 31 Tuesday, 20 February 2018 00:00

Reuters: The Sri Lankan rupee edged down yesterday on importer dollar demand, while political uncertainty continued to weigh on investor sentiment, dealers said. The rupee ended at 155.40/50 per dollar, compared with Friday’s close of 155.10/20. Th

Parallel upward shift of overall yield curve

Views - 103 Monday, 19 February 2018 00:00

Secondary market bond yields increased across the boards during the week ending 16 February, driven by the outcome of the Provincial Council elections.

Eran attends first global conference of Platform for Collaboration on Tax in New York

Views - 21 Monday, 19 February 2018 00:00

State Minister of Finance Eran Wickramaratne represented Sri Lanka at the First Global Conference of the Platform for Collaboration on Tax

NCE seminar on taxation and fiscal issues on 20 Feb.

Views - 20 Monday, 19 February 2018 00:00

The National Chamber of Exporters of Sri Lanka will conduct a seminar on tax, fiscal, and other issues related to the new Foreign Exchange

Global independent audit regulators meet in Colombo today

Views - 25 Monday, 19 February 2018 00:00

The inauguration of the 12th annual Inspection Workshop of the International Forum of Independent Audit Regulators

IFFSA recognises LB Finance educational CSR as one of the best in South Asia

Views - 18 Monday, 19 February 2018 00:00

‘Bridging the Gap’, the educational CSR project of Al-Salamah Islamic Finance Unit of LB Finance PLC, one of the early pioneers of Islamic

Restoring credibility of Central Bank: What ails the system?

Views - 32 Monday, 19 February 2018 00:00

Action needs to be taken on both sides of the balance sheet – to restrict the expansion of credit or to impose a deposit freeze

Regional powers China, India battle for Bangladesh bourse

Views - 37 Friday, 16 February 2018 00:00

DHAKA (AFP): India and China have launched rival bids for a large stake in Bangladesh’s stock exchange, officials said Thursday, as the Asian powers jostle for strategic influence in the region.

Asia Stocks: Most gain tracking broader Asia

Views - 24 Friday, 16 February 2018 00:00

Reuters - Most Southeast Asian stock markets firmed on Thursday, tracking broader Asia, with Singapore surging after data showed a faster

Dollar hits 15-month low vs. yen, some see further slide

Views - 43 Friday, 16 February 2018 00:00

SINGAPORE (Reuters) - The dollar extended its losses against the yen and hit a new 15-month low on Thursday, with market participants bracing

Gold extends gain on dollar weakness

Views - 28 Friday, 16 February 2018 00:00

Reuters - Gold prices rose further on Thursday, supported by a weaker dollar and as investors bought the yellow metal

PNB detects $ 1.77 b fraud in India’s biggest case

Views - 30 Friday, 16 February 2018 00:00

Mumbai (Reuters): India’s Punjab National Bank (PNB) has detected fraudulent transactions worth $ 1.77 billion at a single Mumbai

CMA continuing professional development (CPD) workshop on ‘RAMIS Tax Systems & Practical Issues Face

Views - 63 Friday, 16 February 2018 00:00

The Institute of Certified Management Accountants of Sri Lanka (CMA) will conduct a CPD workshop on ‘RAMIS Tax

Performance review of insurance industry in 3Q of 2017

Views - 136 Friday, 16 February 2018 00:00

The insurance industry was able to achieve a growth of 15.53% (Q3, 2016: 16.97%) in terms of overall Gross Written Premium

CB extends suspension of PABC Primary Dealership

Views - 33 Friday, 16 February 2018 00:00

Central Bank said yesterday it has extended the suspension of Primary Dealer Pan Asia Banking for another six months in order to continue the investigations into the bond scam.

Annual Report of Finance Commission handed over to President

Views - 12 Friday, 16 February 2018 00:00

The Annual Report for 2016 of the Finance Commission of Sri Lanka was handed over to President Maithripala Sirisena

Union Bank Biz Direct powers UA with cutting-edge cash management technology

Views - 49 Friday, 16 February 2018 00:00

Union Bank partnered Union Assurance PLC (UA) with the Bank’s revolutionary cash management solution Union Bank

Colombo Bourse rebounds on retail buying

Views - 35 Friday, 16 February 2018 00:00

Reuters: Shares recovered on Thursday, following two straight sessions of losses, on retail buying after the central bank

Rupee recovers as political uncertainty shows signs of easing

Views - 37 Friday, 16 February 2018 00:00

Reuters: The rupee ended firmer on Thursday, a day after hitting a record low, as exporters and banks sold dollars amid signs of political uncertainty easing, dealers said.

Today's Columnists

Tamil actor Kamal Haasan stars in new role as political leader

Saturday, 24 February 2018

Srinivasan Kamal Haasan is one of India’s foremost film actors. Known popularly as Kamal, the talented and versatile thespian has not only excelled as an actor onscreen, but has successfully engaged in other cinematic spheres too. The multi-faceted

Yameen’s economic offensive to counter political adversity ahead of presidential poll

Saturday, 24 February 2018

The embattled Maldivian President Abdulla Yameen, who is facing intense political opposition both in and out of the country, hopes to win the September, 2018 presidential election using a combination of political belligerence and a strong economic pr

In the end, there was nothing

Saturday, 24 February 2018

Much more than a storm in a tea cup! To a non-discerning person, it all seemed like the final battle of the counter revolution. President Sirisena was up in smoke trying to oust Prime Minister Ranil Wickremesinghe for no articulated reason. He asked

Shouldn’t Govt. prevent parliamentary system from decay and destruction?

Friday, 23 February 2018

The wrong people teach us the best lessons. As a clever nation, we had always used our ballot and chased the wrong people

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