Financial Services

Bourse dips

Views - 63 Tuesday, 26 November 2019 00:00

The Colombo stock market began the week on a negative note with both indices down midst moderate turnover. NDB Equities said the ASPI closed in red as a result of price losses in counters such as Distilleries, Sri Lanka Telecom and Carson Cumberbatc


Rate cut by CB possible: First Capital

Views - 160 Tuesday, 26 November 2019 00:00

First Capital Research yesterday decided not to rule out a rate cut by the Central Bank when it announces its latest monetary policy report on Friday, as space for further easing exists due to the surprise rate cut by the Federal Reserve and dire nee


Dollar boosted by trade progress signs, Brexit promise lifts sterling

Views - 35 Tuesday, 26 November 2019 00:00

SINGAPORE (Reuters): The dollar and export-focused currencies edged higher on Monday on broadly upbeat headlines about US-China trade talks, while the pound climbed on hopes of an imminent Brexit and an end to years of political paralysis. Moves were


Bond yields increase for third consecutive day 

Views - 92 Tuesday, 26 November 2019 00:00

By Wealth Trust Securities  The upward momentum in secondary market bond yields continued yesterday on the back of persistent selling interest. The yields on the liquid maturities of 2023s (i.e.15.07.23, 01.09.23 and 15.12.23), 2024s (i.e. 15.03.24


KPMG insurance conference on tax and accounting issues

Views - 234 Tuesday, 26 November 2019 00:00

The KPMG Academy has organised a conference on insurance with Partner Audit Suren Rajakarier, Principal Tax and Regulatory Suresh Perera and Director Audit Raditha Alahakoon, making presentations followed by a panel discussion with HNB Assurance Mana


Manjula de Silva steps down from NITF

Views - 97 Tuesday, 26 November 2019 00:00

Top industry professional Manjula de Silva has stepped down as the Chairman of the National Insurance Trust Fund. De Silva was appointed as the Chairman in April 2015. Prior to that he was the Managing Director of HNB Assurance PLC for nine years a


Ceylinco Life launches ‘Pension Saver’ Retirement cum Life Protection Plan

Views - 70 Tuesday, 26 November 2019 00:00

A new Retirement cum Life Protection Plan that offers a Premium Assurance Benefit, Loyalty Rewards, and a monthly pension after maturity has been launched by Ceylinco Life to stimulate early investment in retirement. The objective of this product bra


Indonesia starts insuring state assets after year of disasters

Views - 18 Tuesday, 26 November 2019 00:00

Jakarta (Reuters): Indonesia’s government and a consortium of 56 insurance companies signed on Friday the first contract to protect state assets against disasters in the seismically active Southeast Asian country. The contract will provide cover fo


ATL Insurance makes getting insurance cover easier than ever

Views - 26 Tuesday, 26 November 2019 00:00

Securing an insurance cover has long been one of life’s most essential yet inconvenient, and as a result perennially under-utilised, processes. From deciding on the type of cover, poring over the details and eventually agreeing on a premium, to ha


Serendib Finance Dambulla Branch moves to spacious new office

Views - 41 Monday, 25 November 2019 00:59

Serendib Finance Ltd., a fully-owned subsidiary of the Commercial Bank of Ceylon PLC, recently relocated its Dambulla branch to a spacious new building, and has announced higher interest rates for fixed deposits. The new office located at No 679, An


KPMG hosts 20th Audit Committee Forum on Oversight of Business Risks

Views - 139 Monday, 25 November 2019 00:59

Audit committees continue to express confidence in their oversight of core responsibilities—financial reporting integrity and audit quality. Yet, it’s clear from a KPMG global survey of more than 200 audit committee members that technological inn


Commercial Leasing & Finance Gampola branch now in new location

Views - 21 Monday, 25 November 2019 00:58

The Gampola branch of Commercial Leasing & Finance PLC (CLC), recently relocated to a new building at No: 180A, Kandy Road, Gampola with the objective of providing more convenient and efficient service to its customers. Commencing operations in Dece


LCB Finance shines at South Asian Business Excellence Awards 2019

Views - 38 Monday, 25 November 2019 00:55

LCB Finance, the first and the only major finance company that emerged from the southern region, was honoured as the Emerging Finance Company of the Year at the 4th Edition of South Asia Business Excellence Award ceremony, held at the Hilton Colombo


Softlogic Finance appoints two new Non-Executive Independent Directors

Views - 107 Monday, 25 November 2019 00:50

Softlogic Finance PLC has announced the appointment of two Non-Executive Independent Directors – Manika Fernando and Dinesh P. Renganathan – to its Board. Fernando is holds an MBA from the University of Georgia, USA, and a Fellow of the Institute


Parallel downward shift of the yield curve

Views - 91 Monday, 25 November 2019 00:50

By Wealth Trust Securities The secondary bond market became active during the week ending 22 November, with yields decreasing considerably during the early part of the week prior to increasing once again during the latter part, resulting in a steep p


AIA Insurance’s Sarath Jayalal qualifies to MDRT Top of The Table

Views - 36 Friday, 22 November 2019 00:02

AIA Insurance congratulates Sarath Jayalal from the Maharagama Regional Office for his outstanding performance in becoming the company’s only Million Dollar Round Table (MDRT) Top of The Table (TOT) qualifier in 2019. His achievement was honoured


Roshan Collas of Sri Lanka Insurance speaks at 12th ASEAN Insurance Congress

Views - 33 Friday, 22 November 2019 00:02

Roshan Collas, Assistant General Manager Bancassurance and Alternate Distribution of Sri Lanka Insurance spoke at the 12th ASEAN Insurance Congress organised by the ASEAN Insurance Training and Research Institute (AITRI) under the auspices of the ASE


Sri Lanka Insurance relocates Akuressa branch

Views - 22 Friday, 22 November 2019 00:02

Sri Lanka Insurance relocates the Akuressa branch providing total insurance solutions with a hassle-free customer experience for the customers in the area. The relocated branch is located at 1st floor, No. 49½, Matara Road, Akuressa and opened its d


Bond yields increase for first time in four days

Views - 84 Friday, 22 November 2019 00:02

The secondary bond market yields increased yesterday in comparison to its previous days closings, recording its first day of increases following the presidential election. Yields on the liquid maturities of 2023’s (i.e.15.05.23, 15.07.23), 2024’s


HNBA Group PAT climbs amidst challenging economic environment

Views - 35 Friday, 22 November 2019 00:01

HNB Assurance (PLC) and its fully-owned subsidiary HNB General Insurance Ltd. (HNBGI) posted a Profit After Tax (PAT) of Rs. 399 million for 3Q19 despite many economic and market challenges. Being in line with the Group’s profit projection, the Gro


Shares end flat, rupee falls; all eyes on new Govt. policies

Views - 54 Friday, 22 November 2019 00:01

Reuters: Shares ended largely unchanged on Thursday, hovering near a more than one-year high hit earlier this week, while the rupee ended weaker as investors awaited policies from the newly elected government. Mahinda Rajapaksa took oaths as Prime Mi


Beware of online scams: CB

Views - 114 Friday, 22 November 2019 00:00

The Central Bank yesterday called on the public to be vigilant about online scams and take additional measures to protect bank passwords and PINs. The Central Bank of Sri Lanka has received information regarding several types of financial frauds an


Alibaba raises up to $ 12.9 b in landmark Hong Kong listing

Views - 47 Thursday, 21 November 2019 01:23

Hong Kong (Reuters): Chinese e-commerce giant Alibaba Group raised up to $ 12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale. The deal will be


364 day bill drops for first time in four weeks

Views - 88 Thursday, 21 November 2019 01:23

Bid to offer ratio increases to 21-week high Bond market continues positive momentum By Wealth Trust Securities The first Treasury bill auction subsequent to the Presidential Election saw the 364 day bill weighted average record a steep dip reversin


Singapore proposes to regulate bitcoin futures

Views - 35 Thursday, 21 November 2019 01:20

HONG KONG (Reuters): Singapore’s Central Bank plans to bring bitcoin and other similar cryptocurrency futures traded on approved exchanges under its regulation in response to interest from international institutional investors, it said on Wednesday


Shares edge down on profit taking; rupee ends higher

Views - 51 Thursday, 21 November 2019 01:20

Reuters: Shares ended marginally lower on Wednesday from their highest level in more than a year hit in the previous session, as investors booked profits after a post-election rally, while the rupee rose to a nearly three-month peak. The benchmark st


LOLC Finance expands reach with inauguration of Moratuwa branch

Views - 42 Thursday, 21 November 2019 01:20

Renowned for offering Sri Lanka’s pioneer portfolio of financing solutions coupled with cutting edge technology in enhancing customer convenience, LOLC Finance PLC has become a beacon of empowerment for the masses, reaching out to grassroot level e


Epic Lanka partners with Bank of Ceylon to transform low-value transactions

Views - 334 Thursday, 21 November 2019 00:44

Epic Lanka, the pioneering leader of FinTech solutions in Sri Lanka, recently joined hands with Bank of Ceylon (BOC) to deliver convenience to Sri Lankan customers and merchants through the SmartPay platform. With this platform, customers and mercha


eZ Cash partners HNB Finance

Views - 44 Thursday, 21 November 2019 00:42

HNB Finance customers now have the flexible and secure option of repaying their loans through more than 25,000 eZ Cash merchant outlets island-wide, with no additional payment charges to customers. This latest HNB Finance loan repayment method with


Ceylinco Life unfazed by conditions, posts impressive 9-month results

Views - 57 Wednesday, 20 November 2019 02:03

Ceylinco Life has posted robust income and profit growth for the nine months ending 30 September 2019, continuing the Company’s sector-leading performance into the third quarter of the year. The life insurance leader has reported net income of Rs.


Today's Columnists

Peace, business and prosperity

Saturday, 7 December 2019

Every nation, every community and each individual is facing the social and political impact along with the impact of violence. Interpersonal violence results in medical, policing and judicial costs immediately after the violent incident occurs and it


‘Data is the new oil’: An introduction to the proposed Data Protection Act

Friday, 6 December 2019

Data protection is not a concept we, in Sri Lanka, are familiar with. Globally, the laws surrounding data protection have been around for about 20 years. And we are only just about getting started. The proposed ‘Data Protection Act’ (hereinafter


Education: An integral part of entrepreneurship development

Friday, 6 December 2019

Governments across the world have recognised the importance of State intervention to encourage private sector innovation towards strengthening entrepreneurships in order to capitalise on comparative and competitive advantages. The main pillar of entr


Moving away from an insular mindset concerning the tea export business

Friday, 6 December 2019

Sri Lanka mainly produces Orthodox teas as opposed to CTC teas which are largely used in producing tea bags. We are ahead of others in the former category but unfortunately way behind on the latter due to our closed and insular policies. Assuming an


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