Financial Services

Ceylinco Life dominates IASL’s Life Insurance Awareness Month competition

Views - 28 Friday, 12 October 2018 00:00

Sales professionals of Ceylinco Life demonstrated their prowess in emphatic fashion at an industry-wide competition that concluded recently, taking the top spot, half of the top 10 places and nearly a quarter of the top 100 places. The competition wa

Bank of Ceylon Unawatuna branch shifts to new location

Views - 33 Friday, 12 October 2018 00:00

The Bank of Ceylon’s Unawatuna branch relocated at its new premises recently with the participation of Minister of Lands and Parliamentary Reforms Gayantha Karunathilaka and Minister of Home Affairs Vajira Abeywardena recently at a strategic locati

Govt. halts Samurdhi Bank takeover plan

Views - 64 Friday, 12 October 2018 00:00

By Ashwin Hemmathagama – Our Lobby Correspondent The Government yesterday informed Parliament that it would not continue with the plan allowing the Central Bank to take over the Samurdhi (Divineguma) Bank, as stated by Prime Minister Ranil Wickreme

ComBank expands scope of its Green Loans, adds Green Leasing to support environment

Views - 87 Thursday, 11 October 2018 00:43

The Commercial Bank of Ceylon has announced an expansion of the scope of its ‘Green Loans’ to encompass technology and products that contribute to environment conservation and to include leasing of electric and hybrid vehicles. Previously limited

Invest Sri Lanka Forum in London draws interest and engagement among UK investors

Views - 148 Thursday, 11 October 2018 00:43

A large gathering of institutional investors based in London showed a keen interest in investing in Sri Lankan equities while attending an Invest Sri Lanka Forum held at the London Stock Exchange recently. The Forum, which was organised by the Colom

364-day bill weighted average jumps above 10% for first time in over 15 months 

Views - 101 Thursday, 11 October 2018 00:35

By Wealth Trust Securities The 364 day bill weighted average was seen jumping above the psychological level of 10.00% for the first time in over 15 months or 62 weeks at its weekly auction yesterday, registering an increase of 68 basis points to 10.1

Bond market at a standstill ahead of weekly bill auction 

Views - 80 Wednesday, 10 October 2018 00:00

By Wealth Trust Securities The activity in the secondary bond market was at a virtual standstill yesterday as yields increased on the back of widening two way quotes. Limited trades were seen on the 10-year maturity of 01.09.28 as its yield was seen

Fitch assigns Dialog Finance first-time ‘AA(lka)’ Rating; Outlook Stable

Views - 82 Wednesday, 10 October 2018 00:00

Fitch Ratings Lanka Ltd. has assigned Dialog Finance PLC (DF) a National Long-Term Rating of ‘AA(lka)’. The Outlook is Stable. Key rating drivers were as follows: National ratings: DF’s rating reflects Fitch’s view that support would be fo

Amãna Bank partners with CIMA Business Leaders’ Summit 2018

Views - 59 Wednesday, 10 October 2018 00:00

Amãna Bank recently partnered with the Chartered Institute of Management Accountants (CIMA) Sri Lanka for their flagship event CIMA Business Leaders’ Summit 2018 held under the theme ‘Go Beyond: From Insight to Impact – Unlocking Opportunities

Commercial Bank launches Affinity Card for Dharmasoka College, Ambalangoda

Views - 41 Wednesday, 10 October 2018 00:00

Members of the Old Boys’ Association of Dharmasoka College, Ambalangoda, one of the leading schools in the Southern Province, can now own co-branded Mastercard Credit Cards, thanks to the Commercial Bank of Ceylon. The Dharmasoka College Affinity

People’s Bank digital journey sets benchmark at National IT Conference

Views - 476 Wednesday, 10 October 2018 00:00

Consolidating its position as a digital financial services provider, People’s Bank set the benchmark for digital financial services in Sri Lanka at the recently concluded National IT Conference (NITC) 2018. Organised by the Computer Society of Sri

Bond yields increase on back of sluggish sentiment 

Views - 92 Tuesday, 9 October 2018 00:00

By Wealth Trust Securities The secondary bond market opened the week on a sluggish note as yields were seen increasing and widening yesterday as activity moderated considerably. Limited trades were seen on the seven year maturity on 15.10.25 and the

Fairfirst Insurance ties up with Dept. of Posts for extended reach

Views - 201 Tuesday, 9 October 2018 00:00

Fairfirst Insurance recently tied up with the Department of Posts in an agreement that allows Fairfirst to transact general insurance via the extensive postal network in Sri Lanka. The agreement which was signed for a period of three years will comme

Cargills Bank offers higher returns for fixed deposits, encourages long term savings

Views - 129 Tuesday, 9 October 2018 00:00

Cargills Bank has introduced an attractive interest rate for the five years fixed deposit product in addition to the recently introduced higher interest rate on the one year fixed deposit product with the intention of enticing customers for better lo

Secondary market bond yields fluctuate during the week

Views - 101 Monday, 8 October 2018 00:00

The secondary bond market witnessed a round of fresh buying interest during the week ending 5 October subsequent to the monetary policy announcement at where policy rates were kept unchanged against market expectations.

Lucky COMBANK Credit Cardholders to have balances wiped out

Views - 76 Monday, 8 October 2018 00:00

Fortune will smile on lucky credit card holders of Commercial Bank with the launch of a new ‘’COMBANK Credit Card Balance Wiped-off’ campaign which will wipe out a total of Rs. 5.25 million in credit card spends over the next three months.

Five Nations Mobile Banking customers win GoPros in August promo

Views - 44 Monday, 8 October 2018 00:00

As part of its ongoing efforts to encourage consumers to use digital banking services, Nations Trust Bank rewarded five lucky customers who used Nations Mobile Banking; a convenient, user-friendly banking app that uses the latest cutting-edge technol

New appointment to NTB Board

Views - 432 Monday, 8 October 2018 00:00

Nations Trust Bank PLC has announced the appointment of Sumit Maheshwari to its Board of Directors with effect from 4 October, as a Non-Executive Director.

Saudi misses out on joining anti-illicit funding body FATF for now

Views - 14 Monday, 8 October 2018 00:00

DUBAI (Reuters): Saudi Arabia has missed out on gaining full membership of the Financial Action Task Force (FATF) after the global body dedicated to fighting illicit money flows found the Kingdom fell short in combating money laundering and terror fi

New Chairman of Regional Development Bank assumes duties

Views - 41 Monday, 8 October 2018 00:00

Sujith Prasanna Kariyawasam, Attorney-at-Law, assumed duties as the new Chairman of the Regional Development Bank at the auspicious time on 1 October amidst chanting of pirith by the Maha Sangha.

HNB Grameen announces corporate name change to HNB Finance

Views - 456 Monday, 8 October 2018 00:00

In response to the changes of the company’s position as a major financial institution that provides a more comprehensive range of financial solutions strengthened by 18 years of market expertise and stability, HNB Grameen announced that the company

Pakistan’s rupee under pressure amid regional currency turmoil

Views - 79 Friday, 5 October 2018 00:00

ISLAMABAD (Reuters): Emerging markets currency turmoil and higher oil prices are putting increasing pressure on Pakistan’s central bank to devalue the rupee for a fifth time in a year, analysts said on Wednesday. The rupee is down 20 percent since

Dollar and global bonds track surge in Treasury yields, stocks sag

Views - 51 Friday, 5 October 2018 00:00

LONDON (Reuters): A rise in US Treasury yields to their highest levels since mid-2011 pulled global bond yields higher across the board and boosted the dollar on Thursday, while stocks sagged in response. An influential survey of the US services sect

Regulators say banks near full compliance with post-crisis capital rules

Views - 61 Friday, 5 October 2018 00:00

LONDON (Reuters): A decade since Lehman Brothers bank collapsed, the world’s top lenders largely meet tougher capital requirements aimed at averting a repeat of the ensuing markets meltdown, regulators said on Thursday. The Basel Committee of regul

Indian Rupee hits record low despite suspected intervention; stocks, bonds weaken

Views - 69 Friday, 5 October 2018 00:00

MUMBAI (Reuters): The rupee plumbed record lows as global oil prices rose and stocks and bonds weakened on Thursday, heightening speculation that the Reserve Bank of India (RBI) may hike interest rates on Friday more aggressively than earlier expecte

Bond yields increase marginally in thin trade

Views - 80 Friday, 5 October 2018 00:00

By Wealth Trust Securities The secondary bond market yields were seen increasing marginally yesterday on the back of thin volumes. The yields on the liquid maturities of 15.10.21 and 15.07.23 increased to intraday highs of 10.75% and 10.97%, respecti

IOSCO launches World Investor Week 2018 to promote investor education and protection

Views - 26 Friday, 5 October 2018 00:00

The International Organization of Securities Commissions (IOSCO) has launched its second annual World Investor Week (WIW), following its success last year at attracting more than 1,000 financial organisations to showcase their initiatives for promoti

Seylan Bank relocates Nawalapitiya branch to enhance customer convenience

Views - 37 Friday, 5 October 2018 00:00

In response to the demands of integrated banking services in the Nawalapitiya area, Seylan Bank has relocated its Nawalapitiya branch to a more convenient state-of-the-art facility with ample parking space. With the relocation, customers in and arou

Union Assurance relocates Ambalantota Regional Office

Views - 28 Friday, 5 October 2018 00:00

Union Assurance (UA) relocated its Ambalantota Regional Office on 20 September with a fresh outlook in order provide better services to the residents in the area. The relocated Regional Office will be able to strongly support the company’s pace to

India considering special deposit scheme to boost dollar inflows

Views - 84 Thursday, 4 October 2018 01:03

NEW DELHI (Reuters): India is considering a special deposit scheme for non-resident Indians to boost dollar inflows, news agency NewsRise reported on Wednesday, citing an unnamed Finance Ministry official. Economic Affairs Secretary Subhash Chandra G

Today's Columnists

IPS’s State of the Economy Report 2018 is a demonstration of its independent analysis of the economy

Monday, 22 October 2018

Economists are at the receiving end of society today when it comes to economic crises. They have been blamed not only for giving confusing advice, but also for failing to predict accurately the oncoming economic catastrophes.

Future competencies for Sri Lankans: Rhetoric and reality

Monday, 22 October 2018

I was humbly happy to be the first Sri Lankan to speak at Fiji Annual HR Convention. It gave me a wonderful opportunity to meet warm people of another island nation. With booming tourism and bountiful natural resources, it appears as one of the most

Challenges in preserving and promoting Pakistan’s Buddhist past

Saturday, 20 October 2018

The international media has been portraying Pakistan as a hotbed of Islamic fundamentalism, especially after the Americans carried out a surgical strike there to kill international terrorist and fugitive, Osama bin Laden.

Government’s cohabitation stuck in the past or what?

Friday, 19 October 2018

The appointment of career judge Nalin Perera as the new Chief Justice, who has served in the judiciary for over 30 years, provides a snapshot into President Maithripala Sirisena’s thought process, amidst various stories of clashes with his coalitio

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