Financial Services

Rupee ends firmer; stocks dip on foreign outflows

Views - 62 Friday, 12 April 2019 00:00

REUTERS: The Sri Lankan rupee closed slightly firmer on Thursday, supported by dollar inflows from remittances ahead of the traditional New Year, while stocks ended lower due to foreign outflows in moderate trade. Markets shrugged off the central ba


Growth woes douse rally in Asian shares, dollar slips

Views - 23 Friday, 12 April 2019 00:00

SYDNEY (Reuters): Asian stocks stepped back from near eight-month highs on Thursday and the dollar eased as European and US central banks reinforced investor worries about the global economic outlook and trade protectionism. In a fresh escalation of


AIA Centennial Walk across verdant hillside of Nuwara Eliya

Views - 15 Friday, 12 April 2019 00:00

The world’s largest life insurer, AIA’s centennial celebrations continued in the cool and lush hillside of Nuwara Eliya with over 500 customers, employees and wealth planners from regional branches in Central and Uva Provinces, uniting to celebra


Seylan Bank recognises top performers at glittering ceremony

Views - 27 Friday, 12 April 2019 00:00

Seylan Bank, one of Sri Lanka’s leading private banks, recognised the exceptional performers from amongst its 170 branches as part of the bank’s annual recognition program held at the Cinnamon Grand Hotel, Colombo recently. Organised for the sev


Secondary bond market continues positive run

Views - 66 Friday, 12 April 2019 00:00

By Wealth Trust Securities The positive rally in the secondary bond market continued yesterday, as yields were seen decreasing further across the curve on the back persistent buying interest. The liquid maturities of 15.03.24, two 2026’s (01.06.26


‘Unu Kevum Wage Offers’ at over 3,000 merchant outlets with NDB GoodLife

Views - 38 Thursday, 11 April 2019 00:00

NDB launched ‘Unu Kewum Wage Offers’ for its Goodlife Credit and Debit cardholders. NDB has made every endeavour to provide the best deals to its cardholders and accordingly have made arrangements with offers up to an amazing 50% at over 3,000 p


Cargills Bank encourages savings habit this Avurudu with high interest rates for fixed deposits

Views - 73 Thursday, 11 April 2019 00:00

As the Avurudu festivities get underway, Cargills Bank has introduced attractive special interest rates for one year, six months and three months fixed deposits with the intention of nurturing the habit of ‘Saving’ among the public. An attractiv


ComBank’s remittance customers win a car and other prizes via ‘Gedarata Thégi 2’

Views - 24 Thursday, 11 April 2019 00:00

A car, a scooter and 90 valuable home appliances were presented to customers of the Commercial Bank of Ceylon at the conclusion of the Bank’s ‘Gedarata Thégi 2’remittance promotion recently. The grand prize of a Hyundai Eon car and the second


DFCC Bank to support national initiative of tree planting in celebrating Avurudu

Views - 29 Thursday, 11 April 2019 00:00

With the vision of the President to plant trees islandwide, a new “tree planting auspicious time” has been introduced to this year’s Sinhala and Tamil New Year rituals, which falls on 15 April at 11:17 a.m. Supporting this worthy cause, select


HNB launches new way to save for the entire family this Avurudu season

Views - 73 Thursday, 11 April 2019 00:00

Sri Lanka’s most customer-friendly bank, HNB PLC, announced the launch of its radical revamp to its General and Minor Accounts, Avurudu Savings Promotions with the introduction of a first-of-its-kind 50% interest free cash advance on deposits made


Rupee firms on remittances; stocks end steady

Views - 106 Thursday, 11 April 2019 00:00

Reuters: The Sri Lankan rupee ended stronger on Wednesday as dollar inflows from remittances ahead of the traditional New Year provided support, while stocks closed steady in dull trade. Markets shrugged off the Central Bank’s decision on Monday o


HNB shines with four awards at Asiamoney Awards 2019

Views - 28 Thursday, 11 April 2019 00:00

Adding to its growing prestige, Sri Lanka’s most innovative bank, HNB PLC, was presented with a total of four awards at the internationally acclaimed Asiamoney Best Bank Awards 2019. Organised with a view to showcasing excellence among leading bank


Trade Finance Association of Bankers holds 22nd AGM

Views - 45 Thursday, 11 April 2019 00:00

The Trade Finance Association of Bankers at its 22nd Annual General Meeting held on 27 February at the Rainbow Room, Grand Oriental Hotel, elected its new Council for the year 2019/2020. The Trade Finance Association of Bankers has from its inception


364 day bill weighted average enters single digits for first time in over six months

Views - 76 Thursday, 11 April 2019 00:00

By Wealth Trust Securities The 364 day bill weighted average was seen breaking and going below the psychological level of 10.00% for the first time since 26 September 2018 to record 9.99% at its weekly auction conducted yesterday. The drop of 16 basi


New NDB Privilege Banking and Leasing Centres open in Kurunegala

Views - 68 Wednesday, 10 April 2019 00:57

Two new NDB Privilege Banking and Leasing Centres were ceremoniously opened in Kurunegala by NDB Senior Vice President Personal Banking and Branch Network Management Sanjaya Perera and the senior management of the bank. NDB Privilege Banking, which w


Bond yields increase further ahead of today’s weekly bill auction

Views - 97 Wednesday, 10 April 2019 00:56

The secondary bond market yields increased further yesterday, with continued selling of the 15.03.22, 15.03.24, 15.01.27 and 01.05.29 maturities, as their yields hit intraday highs of 10.64%, 10.97%, 11.20% and 11.32% respectively, when compared agai


LB Finance expands to Kohuwela, the largest vehicle hub

Views - 47 Wednesday, 10 April 2019 00:54

LB Finance, Sri Lanka’s trail-blazer in innovative financial services recently opened a new branch in Kohuwala, famous as Sri Lanka’s largest vehicle hub. The newly opened branch is located at No.124/A, Dutugemunu Street, Kohuwala. The Kohuwala


Another Ceylinco Life Green Branch to rise in Divulapitiya

Views - 18 Wednesday, 10 April 2019 00:53

Construction commenced recently on another eco-friendly branch building for Ceylinco Life, as Sri Lanka’s life insurance leader accelerated the pace of its Green Agenda to promote sustainable energy use and conservation of resources via its branch


CSE to commence second intake of Diploma in Financial Markets

Views - 58 Wednesday, 10 April 2019 00:51

Following a successful completion of its first intake in 2018, the Advance Diploma in Financial Markets offered by the Colombo Stock Exchange (CSE) is set to commence its second intake on 22 April. ADFM is the first academic qualification to be award


BOC commences internet payments with MasterCard Payment Gateway Systems

Views - 57 Wednesday, 10 April 2019 00:51

Bank of Ceylon together with MasterCard International partnered to introduce internet payment gateway facility which is an essential feature for ecommerce sites where products or services are directly sold to customers. The bank proudly annouced that


Baker Tilly receives recognition as ACCA Approved Employer

Views - 45 Tuesday, 9 April 2019 00:52

The Association of Chartered Certified Accountants (ACCA) recently awarded Baker Tilly with the ACCA Approved Employer Professional Development Status. The Approved Employer professional status is awarded by ACCA to employers who demonstrate commitme


NDB Leasing Centres open at Gampaha and Negombo

Views - 45 Tuesday, 9 April 2019 00:51

New NDB Leasing Centres were ceremoniously opened at the Gampaha and Negombo branches by Senior Vice President Personal Banking and Branch Network Management Sanjaya Perera and the senior management of the bank. The two NDB Leasing Centres are speci


NTB opens newest Cash Deposits and Withdrawals Machine in Kurunegala

Views - 35 Tuesday, 9 April 2019 00:50

Nations Trust Bank (NTB) inaugurated its newest Cash Deposits and Withdrawals Machine at Arpico Supercentre, No. 245/E, Colombo Road, Kurunegala recently. This new state-of-the-art machine is capable of facilitating both cash deposits and withdrawa


Secondary market bond yields increase marginally

Views - 79 Tuesday, 9 April 2019 00:12

The trading week opened yesterday on a sluggish note as activity moderated with most market participants staying on the side-lines due to the monitory policy announcement later in the day. Yields were seen increasing during the day, leading to the an


Delrene Seneviratne appointed as Deputy CEO of SDB bank

Views - 436 Tuesday, 9 April 2019 00:11

Delrene Seneviratne is appointed as the Deputy Chief Executive Officer of SDB bank with effect from 1 April. She counts over 28 years of banking experience of which over 10 years of Corporate Management. Her exposure and expertise ranges from legal,


Asia shares at 7-month peak as China talks stimulus

Views - 20 Tuesday, 9 April 2019 00:11

SYDNEY (Reuters): Asian shares inched up to seven-month highs yesterday as investors cheered a rebound in US payrolls and hints of more stimulus in China, though there was some caution ahead of what is likely to be a tough US earnings season. In a do


Gold prices hit one-week high as dollar turns lower

Views - 38 Tuesday, 9 April 2019 00:10

Reuters: Gold prices rose to a one-week peak yesterday as the dollar slipped after data showed US wage growth slowed last month, while investors awaited minutes of the US Federal Reserve’s March meeting later this week. Spot gold gained 0.4% to $ 1


Seylan Bank issues Trade Loyalty Card to Singer (Sri Lanka)

Views - 45 Monday, 8 April 2019 00:00

Enhancing its services to offer a comprehensive banking experience, Seylan Bank has issued the Trade Services Loyalty Card to Singer (Sri Lanka) PLC recently. Aiming to provide expedited banking services, Seylan Bank Trade Services Department establ


Alliance Finance sustainability efforts shine in international limelight again

Views - 33 Monday, 8 April 2019 00:00

Internationally endorsed once again for its genuine Social and Environmental Sustainability orientation, Alliance Finance Company PLC – Sri Lanka (AFC) has been recognised with a merit award at the ADFIAP Outstanding Development Projects Awards 201


CEO Lakshman Silva on DFCC Bank’s latest Rs. 7.6 b Rights Issue

Views - 261 Monday, 8 April 2019 00:00

Q: Why do you think it is necessary to go for a Rights Issue at this time? A: The main objective of this Issue is to increase the Tier 1 Capital of the bank in order to accommodate and support the bank’s future business expansion and continue our


Today's Columnists

Poignant pondering on a patriarch

Monday, 22 April 2019

Almost five months have gone. It is with a profound sense of sadness that we experienced the demise of our veteran teacher, respected author, legal luminary, an accomplished ambassador, an eminent public servant and an amazing human being, Dr. Wickre


Enemies of democracy – Part I Demand for a strongman to rule the country

Monday, 22 April 2019

I posed the following question to a group of university students recently: ‘Do you desire to have a strongman to rule Sri Lanka today?’ The students, made up of both genders in the age group of 25 to 35, chorused the answer in the affirmative. Wh


The sad demise of Jet Airways

Monday, 22 April 2019

Jet Airways of India, once the premier full-service carrier of the sub-continent, has ceased operations. “Jet Airways and its Board of Directors have been forced to take this extreme measure, as prolonged and sustained efforts with lenders and auth


No more stones to break Sri Lankan bones

Friday, 19 April 2019

Trial by fire is not a new ordeal to Christian community. It predates Notre Dame and Nazism by millennia. In fact, a decade or so before Nero torched believers to light Roman avenues, Jewish religious leaders put Jesus-followers to the test as the Ch


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