Financial Services

DFCC Bank continues to uplift and nurture micro, small and medium sector with ‘Sahaya Hamuwa’

Views - 31 Monday, 18 June 2018 00:00

DFCC Bank recently announced that it will continue to run its ‘Sahaya Hamuwa’ workshops in 2018, which focuses on aiding and uplifting micro, small and medium size businesses and entrepreneurs across the island.

Secondary market bond yields decrease

Views - 91 Monday, 18 June 2018 00:00

The secondary market bond yields were seen decreasing across the yield curve during the week ending 14 June 2018, driven by the outcome of the weekly Treasury bill auction, which saw the weighted average on the 364 day bill decrease for a third conse

Sampath Bank engages Sri Lankan enterprises on doing business in Myanmar

Views - 55 Monday, 18 June 2018 00:00

With a growing interest in the Myanmar market amongst Sri Lankan businesses, Sampath Bank PLC hosted an informative seminar on doing business in Myanmar at the Cinnamon Grand Colombo, recently.

World’s rich grow richer as bull markets roar on: study

Views - 32 Monday, 18 June 2018 00:00

Zurich (Reuters): The pool of money held by the world’s wealthiest people grew by 12% last year to nearly $202 trillion (£152.1 trillion) as bull markets and the dollar’s weakening against most major currencies boosted global fortunes, an intern

Combank first to provide tokenised Mastercard Payment Gateway Services in SL

Views - 58 Monday, 18 June 2018 00:00

The Commercial Bank of Ceylon in collaboration with Mastercard International has introduced payment processing through Mastercard Payment Gateway Services (MPGS) in Sri Lanka, and has integrated as the first merchant to use this service.

KPMG to hold workshop on 21 June on challenges from SLFRS on new IRA

Views - 225 Monday, 18 June 2018 00:00

The tax law does not exist in a water tight compartment. Its interaction with company law, administrative law and other commercial laws is well known. However tax law is intertwined with Generally Accepted Accounting Principles (GAAP) to such a degre

CSE makes constituent changes to S&P Sri Lanka 20 Index

Views - 127 Monday, 18 June 2018 00:00

The Colombo Stock Exchange (CSE) has announced the changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 mid‐year index rebalance.

Fitch says capital regulations to boost resilience of finance companies

Views - 80 Monday, 18 June 2018 00:00

Fitch Ratings on Thursday said new capital-adequacy regulations for Sri Lankan finance companies are likely to improve the resilience of the sector to economic shocks, but will add to capitalisation pressures – particularly for the country’s nume

World stocks capped by trade war concerns, central banks

Views - 46 Thursday, 14 June 2018 00:00

LONDON (Reuters) - World stocks hovered near one-month highs on Wednesday as an expected U.S. interest rate rise and risks of a fresh outbreak of trade tensions between China and the United States overshadowed a generally benign political and economi

The more FDI, the stronger the economy: Sampath Bank MD

Views - 109 Thursday, 14 June 2018 00:00

By Shannon Jayawardena Being the only Lankan firm in the influential MSCI Frontier Market 100 Index, Sampath Bank Managing Director Nanda Fernando this week emphasised the fact that the more FDI, the stronger the economy. Sri Lanka’s third largest

Secondary market bond yields decrease

Views - 75 Thursday, 14 June 2018 00:00

By Wealth Trust Securities The secondary bond markets remained active yesterday as yields were seen decreasing across the yield curve. Buying interest on the two 2023’s (i.e. 15.03.23 and 15.05.23), 01.08.25, two 2028’s (i.e. 15.03.28 and 01.09.2

CE near 6-month closing low on foreign selling

Views - 59 Thursday, 14 June 2018 00:00

Reuters: Sri Lankan shares ended lower for a sixth straight session yesterday to hit their lowest closing in nearly six months, as foreign investors sold banking shares such as Commercial Bank of Ceylon PLC. The Colombo stock index ended 0.17% weaker

Dileepa Wijesundera joins Amãna Takaful Life Board

Views - 52 Thursday, 14 June 2018 00:00

Former Sri Lanka Telecom Group CEO Dileepa Wijesundera has been appointed to the Board of Amãna Takaful Life PLC, as an Independent Non-Executive Director. Wijesundera is an engineer with extensive experience in project logistics, profitability and

Rupee ends weaker in dull trade

Views - 48 Thursday, 14 June 2018 00:00

Reuters: The Sri Lankan rupee closed slightly lower in thin trade yesterday, hovering near an all-time low hit earlier this week, as importer dollar demand surpassed mild selling of the greenback by banks, dealers said. The spot rupee ended at 159.65

70 Combank branches to be kept open on 15 June – Ramadan Festival Day

Views - 24 Thursday, 14 June 2018 00:00

The Commercial Bank of Ceylon is to keep 70 branches open for business on Friday, 15 June, a public and bank holiday to mark Id-Ul-Fitr – Ramadan Festival Day. Announcing the decision, the bank said the branches scheduled to operate on that day wou

Dambulla poised for a richer harvest with Vallibel Finance

Views - 76 Thursday, 14 June 2018 00:00

The agri trading hub Dambulla welcomed of the arrival of financial pacesetter Vallibel Finance which unveiled its renowned brand of financial services from its dedicated new branch in the city centre. The city’s strategic location connecting the h

RDB Gampaha branch moves to a better location

Views - 17 Thursday, 14 June 2018 00:00

Regional Development Bank (RDB), the premier and the fastest growing State-owned development bank in the island relocated its Gampaha branch to a new and modernised location on 11 June at No. 11, Colombo Road, Gampaha to provide better facilities to

HNB Al Najah sweeps Gold for “Islamic Entity of the year” at SLIBFI Awards

Views - 88 Thursday, 14 June 2018 00:00

Hatton National Bank’s Islamic banking unit, Al Najah, was recognised for significant contributions to the Islamic banking industry and the community at large, at the recently concluded “Sri Lanka Islamic Banking and Finance Industry” (SLIBFI)

Overwhelming response for Embilipitiya Investor Forum

Views - 57 Thursday, 14 June 2018 00:00

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) successfully concluded the 11th domestic investor forum titled ‘Kotas Welenda Pola: Nagarayen Nagarayate’ at Centauria Lake Hotel, Embilipitiya over th

Registrations open for ‘CSE Masterminds 2018’ quiz competition

Views - 88 Wednesday, 13 June 2018 00:11

The Colombo Stock Exchange (CSE) announces ‘CSE Masterminds 2018’, the second edition of Sri Lanka’s industry-wide capital market quiz competition. The event will be held on 11 July at the Shangri-La Hotel, Colombo from 4 p.m. onwards, where a

HNB inks MOU with Allianz to provide special benefits for Club and Priority Circle customers

Views - 365 Wednesday, 13 June 2018 00:09

Sri Lanka’s largest retail bank, HNB PLC, announced a new partnership with Allianz Insurance Lanka Limited to provide a specially designed International HealthCare plan that offers a comprehensive pre- to post- hospitalisation care to HNB Club and

CSE dips to near 6-month closing low

Views - 58 Wednesday, 13 June 2018 00:09

Reuters: Shares fell for a fifth straight session on Tuesday to hit their lowest closing level in nearly six months, as investors sold telecom and diversified shares. The Colombo stock index ended 0.06% weaker at 6,348.53, its lowest close since 22 D

Benchmark 364-day bill yield decreases further

Views - 70 Wednesday, 13 June 2018 00:07

The weighted average yields at yesterday’s weekly Treasury bill auction continued their decreasing trend for the third consecutive week, driven by high demand. The total offered amount of Rs. 12 billion was successfully accepted with significant d

UA introduces another digital innovation to create life-changing moments for its customers

Views - 108 Wednesday, 13 June 2018 00:06

Union Assurance (UA)is renowned forsetting new trends and novel approaches in terms of embracing disruptive technology and digital initiatives. This time UA has made its efforts to offer a novel experience for the customers with a blend of digital fl

The biggest-ever fire sale of Indian corporate assets has begun, to tide over bad loans crisis

Views - 106 Wednesday, 13 June 2018 00:00

The Reserve Bank of India’s (RBI) has decided to clean up the balance sheets of Indian banks, which are collectively saddled with Rs. 5 lakh crore of bad loans, by the end of this fiscal. So, the banks have started cracking the whip on Indian compa

Highest interest of 12% on 1 year fixed deposits from Pan Asia Bank

Views - 78 Tuesday, 12 June 2018 00:22

Introducing a special limited time offer, Pan Asia Bank recently announced that they will be offering the highest interest rate of 12% for 1 year fixed deposits (at maturity). Further, those who want to receive monthly interest during the investment

Colombo Bourse hovers near 5-1/2-month closing low

Views - 40 Tuesday, 12 June 2018 00:22

Reuters: Sri Lankan shares edged lower yesterday (11 June), falling for a fourth straight session to end at their lowest close in more than five months, as investors continued to stay on the sidelines looking for fresh cues. The Colombo stock index e

Activity in secondary bond market moderates ahead of weekly bill auction

Views - 65 Tuesday, 12 June 2018 00:22

By Wealth Trust Securities Activity in the secondary bond market moderated yesterday, ahead of today’s weekly Treasury bill auction, where a total amount of Rs. 12 billion will be on offer, consisting of Rs. 2 billion on the 91 day, Rs. 4 billion o

Pakistan rupee slumps 3.8%, in apparent fresh devaluation

Views - 28 Tuesday, 12 June 2018 00:21

KARACHI, Islamabad (Reuters): The Pakistani rupee slumped 3.8% against the dollar on Monday before slightly recovering in what appeared to be the third currency devaluation in seven months by the central bank, traders said, as Pakistan faces a balanc

Rupee hits record low; lack of exporter dollar sales weigh

Views - 80 Tuesday, 12 June 2018 00:21

Reuters: The Sri Lankan rupee hit a record low yesterday (11 June), as importer dollar demand outpaced greenback sales by exporters who held back from selling the US currency expecting a further decline in the rupee, dealers said. The spot rupee hit

Today's Columnists

Crisis-ridden Sri Lanka economy: Time for economics to prevail on politics

Monday, 25 June 2018

Sri Lanka’s official statistics bureau, Department of Census and Statistics or DCS, has released the country’s 2018 first quarter provisional economic growth data in its website (available at:

In defence of State banks – The Basel III phobia is the sword of Damocles over their heads!

Monday, 25 June 2018

Time and again over the last year, and more recently in fact, the sceptre of Basel III has raised its head in the print and electronic media.

Great ‘Gamperaliya’: A great novel made into a great film by a great director

Saturday, 23 June 2018

‘Gamperaliya’ (Changes in the Village/Changement au Village) was the third feature film made by ace director Lester James Peries. It was released on 20 December 1963.The film was based on the famous novel of the same name written by the doyen of

Thushani takes Todos to new heights

Saturday, 23 June 2018

Thushani Rodrigo has always amazed me. From the very first day I met her, I have been in awe of her strength, courage and grace and constantly impressed by her creativity. The discipline and commitment she brings to her work, her farsightedness and h

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