Financial Services

Ceylinco General Insurance announces Rs. 1 m cover for serious illness for all policyholders

Views - 61 Monday, 13 August 2018 00:03

Announcing yet another unique benefit for all its policyholders, Ceylinco General Insurance is offering a cover of up to Rs. one million that will reimburse medical costs incurred in the treatment of serious illnesses, including heart disease, cancer


CSE’s depository arm CDS expands service offering

Views - 35 Monday, 13 August 2018 00:02

Central Depository Systems Ltd. (CDS), a fully-owned subsidiary of the Colombo Stock Exchange (CSE), has announced an expansion of its service offering, with the introduction of corporate action services and registrar services for companies listed on


Parallel downward shift of yield curve for second consecutive week

Views - 73 Monday, 13 August 2018 00:00

The downward trend in secondary market bond and bill yields previously witnessed continued during the week ending 10 August as well. The market favoured maturities of 01.03.21, 15.03.23 and 01.08.24 decreased to weekly lows of 9.47%, 9.77% and 9.85%


HNB General Insurance celebrates excellence

Views - 45 Friday, 10 August 2018 00:10

HNB General Insurance Ltd. (HNBGI), the fully-owned subsidiary of HNB Assurance PLC (HNBA), held its fourth Annual Sales Convention recently at The Kingsbury, Colombo. The event was attended by HNBA Group Chairperson Rose Cooray as Chief Guest togeth


Commercial Bank opens branch No. 262 in Pitigala

Views - 28 Friday, 10 August 2018 00:10

The Commercial Bank of Ceylon has strengthened its presence in the south of Sri Lanka even further, with the opening of a branch at Pitigala in the Galle District. The bank’s 262nd branch in Sri Lanka, the new branch is


CSE’s depository arm CDS capitalising on technology to diversify business

Views - 31 Friday, 10 August 2018 00:10

Central Depository Systems Ltd. (CDS), a fully-owned subsidiary of the Colombo Stock Exchange (CSE) is announcing a number of new offerings focused on raising the bar in the services offered to its stakeholders. In this in-depth interview, CDS Head N


Seylan Bank opens 2 new ATMs at Sethsiripaya and Kotugoda

Views - 13 Friday, 10 August 2018 00:10

Expanding its automated channels to offer convenient banking services, Seylan Bank opened two new ATMs at Sethsiripaya and Kotugoda recently. With these establishments, the bank has increased its total number of ATMs to 208 units, covering crucial pa


Pan Asia Bank ups after-tax profit by 33% to Rs. 819 m in 1H

Views - 46 Friday, 10 August 2018 00:10

The fastest growing Sri Lankan commercial bank, Pan Asia Banking Corporation Plc, has reported its best ever profit, recorded in the first half of 2018, anchored by solid growth in new loans, prudent margin and asset-liability management. For the s


CSE extends gains, foreign investors buy into John Keells

Views - 45 Friday, 10 August 2018 00:10

Reuters - Sri Lankan shares rose for a second straight session on Thursday and posted their highest close in more than two weeks, as foreign investors continued to buy into market heavyweight John Keells Holdings after recent selloff.


Rupee edges down on importer dollar demand

Views - 45 Friday, 10 August 2018 00:10

Reuters: The rupee closed marginally weaker on Thursday on importer dollar demand, while dealers expect the local currency to stabilise around the current level in the short term. The rupee, which hit an intraday lo


Association of Professional Bankers felicitates Combank’s new Managing Director S. Renganathan

Views - 25 Friday, 10 August 2018 00:10

The newly appointed Managing Director of Commercial Bank of Ceylon Sivakrishnarajah Renganathan was recently felicitated by the Association of Professional Bankers Sri Lanka (APB) for reaching a top leadership position in banking.


China stock rally steadies nerves, Russian rouble hammered

Views - 15 Friday, 10 August 2018 00:10

SYDNEY (Reuters): Asian share markets found support yesterday as a rally in Chinese stocks helped offset the latest escalation in the Sino-US trade war, while Russia’s rouble tumbled as the United States slapped fres


Bond market remains active as positive momentum continues

Views - 47 Friday, 10 August 2018 00:10

The secondary bond market remained active yesterday with the liquid maturities of 01.07.19, 01.03.21, 15.03.23 and 01.08.24 trading within the range of 9.02% to 9.05%, 9.47% to 9.50%, 9.77% to 9.80%, and 9.85% to 9.92%, respectively. Furthermore, act


Association of Professional Bankers Sri Lanka held its Bank Coordinators Forum and Fellowship on 26

Views - 81 Thursday, 9 August 2018 01:03

Standing from left: Rajaratnam Naguleswaran (DFCC Bank PLC), Dinuke Priyantha Wijesinghe (Union Bank of Colombo PLC), Vijaya Vidyasagara (Hatton National Bank PLC), Indika Kudagamage (National Development Bank PLC), Mangala Karunaratne (Seylan Bank P


Digital transformation: The growth engine for business in the modern day and age

Views - 75 Thursday, 9 August 2018 01:03

By Hasrath Munasinghe Digital transformation Digital transformation is the evaluation of an organisation’s business models, activities, processes and supporting systems to compete more efficiently in a digitally enabled business world to increase c


Bankers Evening Forum on AML & KYC

Views - 277 Thursday, 9 August 2018 01:01

The Association of Professional Bankers – Sri Lanka (APB) held the Second Bankers Evening Forum on Monday, 25 June with an inspiring panel discussion on an emerging topic on ‘Anti Money Laundering & Know Your Customer’. The bankers need to keep


Association of Professional Bankers Sri Lanka felicitates Pan Asia Bank Director/CEO

Views - 52 Thursday, 9 August 2018 00:42

The Association of Professional Bankers Sri Lanka, in a recently held event, felicitated Pan Asia Bank’s Director/CEO Nimal Tillekeratne, as an APB member who has reached a top leadership position in banking. Tillekeratne is a veteran banker with o


Shares edge up from near 4-week closing low on foreign buying

Views - 51 Thursday, 9 August 2018 00:41

Reuters: Sri Lankan shares edged up yesterday as foreign investors sought bargains after a sell-off in the previous session pushed the bourse to four-week lows. The Colombo stock index closed 0.05% higher at 6,120.69 from 6,117.63 on 7 August, which


SEC hosts IOSCO’s Technical Assistance Project

Views - 51 Thursday, 9 August 2018 00:41

The Securities and Exchange Commission of Sri Lanka (SEC) in July hosted the first phase of a Technical Assistance (TA) project conducted by the International Organisation of Securities Commissions (IOSCO) to prepare and deliver draft on-site inspec


NDB Bank2U: Redefining the banking foundation

Views - 86 Thursday, 9 August 2018 00:41

NDB launched its latest banking service ‘Bank2U’ in a bid to provide customers a stellar service right to their doorstep. Through this new offering, NDB aspires to extend its reach beyond the boundaries of the conventional branch by providing ba


Weekly T-bill averages continue to decrease

Views - 65 Thursday, 9 August 2018 00:41

By Wealth Trust Securities The weighted average yields at yesterday’s weekly Treasury bill auction declined across the board, with the total offered amount of Rs. 20.5 billion being successfully subscribed. The 364-day bill continued to dominate th


Rupee falls on importer dollar demand

Views - 33 Thursday, 9 August 2018 00:40

Reuters: The rupee fell on Wednesday as demand for the US dollar from banks surpassed mild inward remittances, traders said. The rupee, which traded at 159.94 per dollar intraday, ended at 159.90/160.00 per dollar, compared with Tuesday’s close of


AIA to change way people view insurance

Views - 82 Thursday, 9 August 2018 00:00

By Charumini de Silva Reassuring its brand promise to help Sri Lankans live healthier, longer, better lives, AIA Insurance yesterday made a compelling argument to make a positive change to the way customers view insurance. With a rapidly aging popul


Amãna Takaful relocates Anuradhapura branch to serve customers better

Views - 26 Wednesday, 8 August 2018 00:00

The forerunner of Takaful in Sri Lanka, Amãna Takaful PLC (ATL) recently relocated its Anuradhapura branch to a new state-of-the-art


Get the highest rate in town

Views - 56 Wednesday, 8 August 2018 00:00

Pan Asia Bank recently announced that they are offering the highest interest rate of 12.25% for one year fixed deposits


Fairfirst Insurance grabs Emerging Brand of the Year Award at 9th CMO Asia Awards 2018

Views - 38 Wednesday, 8 August 2018 00:00

Fairfirst Insurance was awarded the title of Emerging Brand of the Year at the ninth edition of the CMO Asia – Excellence in Branding and Marketing Awards recently held in Singapore.


Amãna Bank 1H PBT almost doubles

Views - 54 Wednesday, 8 August 2018 00:00

Having recently declared its inaugural dividend of seven cents per share, Amãna Bank continued to showcase a strong


HNB launches new support platforms to drive exports and ERP solutions for SMEs

Views - 63 Wednesday, 8 August 2018 00:00

Sri Lanka’s most digitally innovative bank, HNB Plc, announced the launch of a new support services platform to drive scalable


Rupee edges down on importer dollar demand

Views - 53 Wednesday, 8 August 2018 00:00

Reuters: The rupee ended marginally weaker on Tuesday as demand for the US dollar from foreign banks surpassed mild inward remittances, traders said.


Shares hit near 4-week closing low on foreign selling

Views - 51 Wednesday, 8 August 2018 00:00

Reuters: Shares declined for a second straight session on Tuesday and posted their lowest close in nearly four weeks


Today's Columnists

Identifying traitors: I cannot wait until Dr. Padeniya presents his point scheme

Tuesday, 21 August 2018

Cause for excitement I am excited! A way of identifying and measuring a traitor is soon to be unveiled; by no less than the President of the GMOA! Hasn’t he also qualified in some department of neurology? All the more reason to justify my excitemen


The evils of translocating wild elephants

Tuesday, 21 August 2018

The subject of translocating wild elephants has been a much-debated topic recently, after the Department of Wildlife Conservation (DWLC), acting on the orders of the Minster for Wildlife, wanted to move the only two wild elephants habituating the Sin


Climate scientists cheating us to a $ 12 b/year economic loss in 2050

Monday, 20 August 2018

Local news media carried the disturbing pronouncement by World Bank economists to the effect that Sri Lanka will become an extremely hot territory with 30C temperature rise and $ 12 billion per year economic loss by 2050.


Singapore miracle – How SL could benefit from trade with Singapore

Monday, 20 August 2018

According to a media report released by President’s Media Division, a committee of experts has been appointed by the President to examine and report on ‘the practical impact and use of the proposed officer policy guidelines and recommendations on


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