Financial Services

ComBank upgrades ATM network to accept JCB cards issued worldwide

Views - 68 Tuesday, 8 October 2019 00:00

The Commercial Bank of Ceylon has announced that worldwide holders of JCB (Japan Credit Bureau) credit cards can now withdraw money from the bank’s ATMs in Sri Lanka, offering a noteworthy segment of tourists visiting the country easy access to the


Pan Asia Bank salutes Govt. pensioners with ‘Sammana Garu Saru’ Carnival

Views - 23 Tuesday, 8 October 2019 00:00

Raising the bar in empowering and acknowledging the contribution of pensioners, Pan Asia Bank recently conducted the Pan Asia Bank Sammana Carnival, ‘Garu Saru’, a first of its kind in the industry for its loyal customer base of Government pensio


Ivon Nickolas assumes duty as Chief Business Officer of Sanasa Life Insurance

Views - 27 Tuesday, 8 October 2019 00:00

Ivon Nickolas has assumed duty as Chief Business Officer of Sanasa Life Insurance Company Ltd. Way back in 1983 Nicholas entered the insurance field as an employee of Mercantile Credit Ltd., and joined Union Assurance when insurance companies were pr


‘BOC Digi’ to bring convenience of banking to Orion City IT Park

Views - 59 Tuesday, 8 October 2019 00:00

No. 1 Bank in Sri Lanka, Bank of Ceylon’s state-of-the-art self-banking centre ‘BOC Digi’ opens its third branch at the premium built-to-specification commercial and infrastructure complex, Orion City that houses high-tech companies in the coun


HNB upgrades Singithi ‘Giftober’ Savings Month with exiting new digital offerings

Views - 64 Tuesday, 8 October 2019 00:00

Sri Lanka’s most customer-friendly bank, HNB Plc, announced the return of its highly anticipated Singithi ‘Giftober’ Savings Month, updated this year to include a host of exciting new toys and electronic devices ideally suited for the bank’s


CAL surpasses Rs. 100 b footprint in investment banking

Views - 360 Tuesday, 8 October 2019 00:00

Riding a wave of success over the past two years as the foremost force in investment banking, Capital Alliance (CAL) continues its reign as the market leader in Investment Banking services (Debt & Equity fund raising and Mergers & Acquisitions) with


Bond yields broadly steady in thin trade 

Views - 65 Tuesday, 8 October 2019 00:00

By Wealth Trust Securities The commencement of a fresh week saw the bearish sentiment in the secondary bond market continue with limited trades witnessed yesterday. The maturities of 01.10.22, 15.09.24, 15.06.27 and 15.09.34 changed hands at levels


People’s Bank Kaluwanchikudi branch relocated to a new premises

Views - 18 Monday, 7 October 2019 09:18

The ceremonial opening of People Bank’s Kaluwanchikudi branch at its new premises took place recently with the attendance of People’s Bank Assistant General Manager (Marketing) A.U.A. Anzar.


Bank of Ceylon the only State institution among ‘Top 10 Most Admired Companies in Sri Lanka’

Views - 36 Monday, 7 October 2019 09:17

The Bank of Ceylon was conferred as one of the ‘Top Ten Most Admired Companies in Sri Lanka’ at the 2nd convention organised by the International Chamber of Commerce Sri Lanka (ICCSL) and the Chartered Institute of Management Accountants (CIMA) t


Fitch affirms Standard Chartered Bank, Sri Lanka branch at ‘AAA’; Outlook Stable

Views - 36 Monday, 7 October 2019 09:16

Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.


Fitch affirms Citibank N.A – Colombo branch at ‘AAA’; Outlook Stable

Views - 15 Monday, 7 October 2019 09:16

Fitch Ratings Lanka has affirmed Citibank N.A. - Colombo Branch’s (CitiSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.


Lacklustre sentiment in bond markets continues

Views - 42 Monday, 7 October 2019 09:10

The overall activity in the secondary bond market remained rather moderate during the week ending 4 October as most market participants continued to stay on the sidelines. However, the yield on the liquid 15-year maturity of 15.09.2034 was seen decre


Bimputh Finance Pepiliyana branch launches easy gold loans

Views - 28 Monday, 7 October 2019 09:07

Bimputh Finance PLC, one of the leading finance companies in Sri Lanka, has extended their special low interest gold loan scheme to Pepiliyana branch. The loan scheme was ceremonially launched at the Pepiliyana branch recently with the participation


Sampath Bank among top 10 Most Respected Entities in Sri Lanka

Views - 34 Monday, 7 October 2019 09:05

Sampath Bank, the growing force in Sri Lanka’s financial services, recently appeared in the 15th annual edition of the Most Respected – a survey and publication commissioned and conceptualized by LMD and conducted by Nielsen. Sampath Bank was nam


Ceylinco Life wins 2 Golds and 2 Bronzes at IASL’s Life Insurance Industry Awards

Views - 17 Monday, 7 October 2019 09:04

Two of Ceylinco Life Insurance’s finest G.G. Botheju and A.I.P. Manjula emerged as the ‘Best Advisors’ at the Life Industry Sales Awards presented at the recent National Forum for Life Insurance Advisors (NAFLIA) 2019 Insurance Congress.


Bid manager appointed to raise $500 m Samurai bond

Views - 153 Friday, 4 October 2019 00:00

The Government has appointed a bid manager to raise $500 million via Samurai bonds and is hopeful that it will be presented to the Cabinet next week for approval, a top official confirmed.“The Monetary Board of the Central Bank has approved a bid m


LOLC wins Sri Lanka’s Most Admired Companies Award

Views - 68 Friday, 4 October 2019 00:00

Sri Lanka’s multi-geographic, multicurrency and multicultural financial conglomerate LOLC Holdings Plc was named among the top 10 Most Admired Companies in Sri Lanka. The award ceremony, which was organised for the second consecutive year by the I


Dull sentiment in bond markets continues

Views - 85 Friday, 4 October 2019 00:00

By Wealth Trust Securities The lethargic sentiment in the secondary bond market continued yesterday with limited trades seen on the two 2021 (i.e. 01.03.21 & 15.12.21), 01.10.22, 15.06.27 and 15.09.34 maturities at levels of 8.60%, 8.79%, 9.30%, 10.5


Bourse stocks down for 5th session amid foreign outflows; political woes weigh

Views - 46 Friday, 4 October 2019 00:00

Reuters: Stocks fell for the fifth straight session on Thursday to a more than 10-week closing low, as foreign investors sold the island nation’s risky assets, while the rupee closed lower. Investors were worried of political uncertainty after the


Asian stocks tumble after US announces tariffs on Europe

Views - 37 Friday, 4 October 2019 00:00

TOKYO (Reuters): Asian stocks, already under pressure from growing global growth fears, tumbled on Thursday after New York markets slumped overnight because the United States opened a new trade war front by saying it will impose tariffs on $ 7.5 bill


JCB International partners with LankaPay Technnovation Awards 2019 as Platinum Sponsor

Views - 30 Friday, 4 October 2019 00:00

JCB International, a global payment brand originated in Japan, came on board as the Platinum Sponsor of LankaPay Technnovation Awards 2019. JCB has come onboard as a sponsor of this annual event for three consecutive years since its inception in 2017


Citi partners BOI, CHEC Port City and D.L. & F. De Saram for Belt & Road

Views - 469 Friday, 4 October 2019 00:00

In a unique collaboration, the Board of Investment (BOI) of Sri Lanka, Citi, CHEC Port City Colombo and D.L. & F. De Saram, the Lex Mundi member firm in Sri Lanka, joined forces to highlight Sri Lanka‘s role in the Belt and Road Initiative (BRI).


CSE and SEC conduct first-ever listing forum in Eastern Province

Views - 52 Thursday, 3 October 2019 02:17

The Colombo Stock Exchange (CSE), in association with the Securities and Exchange Commission of Sri Lanka (SEC), recently engaged the business community based in the Eastern Province to create awareness over the capital-raising options available to e


LB Finance Slave Island Centre relocates to new location

Views - 42 Thursday, 3 October 2019 02:13

LB Finance, Sri Lanka’s pioneer in innovative financial services recently relocated its Slave Island Centre to a new location in No. 145, Malay Street, Colombo 2 on 26 September. This occasion was graced by Head of Marketing Sudeep Perera and Senio


Arthavida Udawalawa and Hikkaduwa branches move to new locations

Views - 21 Thursday, 3 October 2019 02:12

Arthavida Intermediary Ltd. is a pioneer micro finance company which started in 1992 and is now operating in 16 branches, island-wide with over 40,000 client base. Its Udawalawa and Hikkaduwa branches moved to modern and convenient locations recentl


HNB recognised as Sri Lanka’s Strongest Bank by Asian Banker

Views - 1310 Thursday, 3 October 2019 01:59

Sri Lanka’s leading private sector bank, HNB was recognised as Sri Lanka’s Strongest Bank by balance sheet evaluation by the prestigious Asian Banker Magazine. Speaking of the achievement, HNB MD/CEO Jonathan Alles stated: “There is a multiplic


HSBC flips crime-spotting tool to scope new business

Views - 37 Thursday, 3 October 2019 01:58

LONDON (Reuters): British bank HSBC has converted a financial crime-spotting algorithm it was forced to build in the wake of a money-laundering scandal into one that can scope out new business opportunities, bank executives said. The system combines


364 day bill weighted average remains steady; 91 day, 182 day bill weighted averages dip

Views - 76 Thursday, 3 October 2019 01:55

By Wealth Trust Securities The 364 day bill weighted average yield at the weekly Treasury bill auction held yesterday remained steady at 8.41% for a second consecutive week, whilst its accepted amount fell short of its offered amount for a second con


Stocks hit 10-week low on political woes; rupee firms

Views - 48 Thursday, 3 October 2019 01:53

Reuters: Sri Lanka’s stocks fell for the fourth straight session yesterday to a 10-week closing low, while the rupee closed higher. Stock brokers said investors were worried of political uncertainty after a Sri Lankan court set up a three-judge pan


Global shares fall to one-month low after US manufacturing hit

Views - 23 Thursday, 3 October 2019 01:53

LONDON (Reuters): A major global share index hit its lowest level in a month on Wednesday after US manufacturing activity tumbled to more than a decade low, sparking worries that the fallout from the US-China trade war is spreading to the US economy.


Today's Columnists

Elpitiya test market: Implications for brands Gota and Sajith

Wednesday, 23 October 2019

In the traditional world of marketing, we tend to test market a product before going national with it. There are three test marketing areas that are normally selected by FMCG companies - Gampaha, Kandy and Negombo. The logic behind this is that the c


An efficient energy sector for economic growth

Tuesday, 22 October 2019

When I saw the advertisement about an Energy Forum organised by PUCSL for a Policy Dialogue on the importance of an efficient energy sector for economic and investment growth, I was very happy as I have been interested in this relationship for more t


Will the rule of law, ethics, and morality be above family rule and crony rule?

Tuesday, 22 October 2019

The two main contenders for the Presidency of Sri Lanka are Gotabaya Rajapaksa and Sajith Premadasa. That is stating the obvious. No doubt, some others may have a limited impact on the outcome. Minority votes may benefit Premadasa, while the Sinhala


Addressing past harm

Tuesday, 22 October 2019

The approach towards an inclusive and equal society, where all human beings are to be treated equally before the eye of law and every human being should have the right to remedy for the harm done to them, seems nothing but a façade when our memories


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