Financial Services

MBSL Midcap Index year 2019 marks 19 years

Views - 43 Wednesday, 2 January 2019 00:00

In a pioneering move, Merchant Bank of Sri Lanka & Finance PLC (MBSL) constructed a Stock Market Index: the ‘MBSL MIDCAP Index’, which measures the aggregate price level and price movements of medium size companies listed on the Colombo Stock Exc

Indian shares start New Year on positive note

Views - 14 Wednesday, 2 January 2019 00:00

REUTERS: Indian shares closed higher on the New Year day, clawing back from losses in the first few hours, on buying trends witnessed in some financial stocks and market heavyweights. The benchmark BSE index closed up 0.52% at 36,254.57, while the b

Trade optimism lifts stocks, but 2018 ends in red

Views - 29 Wednesday, 2 January 2019 00:00

NEW YORK (Reuters): Equities around the world rose on Monday as possible progress in resolving the trade dispute between the United States and China engendered some investor optimism in what has been a punishing end of year for markets. The US benchm

NDB welcomes 2019 amidst celebrations

Views - 64 Wednesday, 2 January 2019 00:00

NDB Group CEO Dimantha Seneviratne, Chairman Ananda Atukorala, the management and the staff of the National Development Bank PLC celebrated the first working day of the year 2019 at their Nawam Mawatha head office. Following the performing of religio

Bank of Ceylon commences New Year with island-wide celebrations

Views - 46 Wednesday, 2 January 2019 00:00

The Bank of Ceylon commenced its operations for ‘2019-New Year’ with celebrations and held its main ceremony at the head office Colombo – ‘BOC Tower’ with a multi-religious ceremony with the patronage of CEO/General Manager Senarath Bandara

People’s Bank staff welcomes 2019 by giving service oath

Views - 24 Wednesday, 2 January 2019 00:00

The staff of People’s Bank commenced operations in the New Year, 2019 by giving the service oath. A special celebration was held on 1 January at the head office of People’s Bank to commemorate this occasion. At this event, the entire staff gave t

ComBank opens 265th branch in Teldeniya, Kandy

Views - 29 Wednesday, 2 January 2019 00:00

The Commercial Bank has opened its latest branch in Sri Lanka at Teldeniya, taking the largest network of branches owned by a private bank in Sri Lanka to 265 in total. This branch will further strengthen the Bank’s presence in Kandy and offer resi

Pan Asia Bank continues educating SMEs

Views - 31 Wednesday, 2 January 2019 00:00

Pan Asia Bank, a name synonymous with SME banking, partnered with the Chamber of Commerce Sri Lanka to educate a selected set of Southern Region customers on the “Legal Environment of Business” with special emphasis on Industrial Law. The one da

National Savings Bank begins the New Year on a high note

Views - 25 Wednesday, 2 January 2019 00:00

National Savings Bank commenced the first working day of the New Year 2019 with a ceremonial event held at the Head Office premises of NSB in Colpetty last morning. The proceedings of the event began with the chanting of pirith and anushasana by the

Restrictions by Central Bank on microfinance loans: Can the socioeconomic issue be cured?

Views - 215 Tuesday, 1 January 2019 00:00

On 3 December, the Monetary Board of the Central Bank of Sri Lanka has issued a new direction curtailing the maximum rate of interest on microfinance loans of Licensed Finance Companies. This is a welcome move as far as the borrowers of the microfina

Overcoming the challenges of forecasting

Views - 52 Tuesday, 1 January 2019 00:00

At this time of the year, experts in the financial industry are busy trying to predict what will happen in the coming 12 months. Having a sense of how things will evolve is key to the decision-making of active investors. The challenge is that people

Who is accountable for country’s economic stability?

Views - 50 Tuesday, 1 January 2019 00:00

By P. Samarasiri The monetary policy press release on 28 December informed of policy rates unchanged at 8% and 9% at levels decided on 13 November. No public briefing on new policy decision was held although announced. Information reveals highly-subs

Dollar drifts in year-end trade as clouds gather

Views - 24 Tuesday, 1 January 2019 00:00

LONDON (Reuters): The dollar was broadly steady in thin year-end trading on Monday with the Australian dollar leading gainers as tensions over a trade dispute between the United States and China faded on expectations of progress in trade talks. The A

Global stocks pin hopes on Sino-US talk, as year ends deep in the red

Views - 14 Tuesday, 1 January 2019 00:00

SYDNEY (Reuters): Asian stocks rose on Monday as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism in what has been a rough year-end for equities globally. Survey data out of China, however, proved unhelpfully mixed

Indian shares end nearly flat; post third consecutive annual gain

Views - 14 Tuesday, 1 January 2019 00:00

REUTERS: Indian shares ended nearly flat on the last trading day of 2018 amid positive global cues and a stronger rupee (INR), but posted their third consecutive annual gain. The benchmark BSE index closed down 0.02% at 36,068.33, but rose 5.9% for

Asian shares post sharpest losses in seven years in 2018

Views - 24 Tuesday, 1 January 2019 00:00

Reuters: Asian stock markets ended 2018 with negative returns in dollar terms, weighed down by trade tensions and slowing profit growth. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 16% this year in its sharpest drop since 2011.

More than just green bonds: The next leap

Views - 29 Tuesday, 1 January 2019 00:00

By Henrik Raber, Global Head, Credit Markets, Standard Chartered Bank As we get into the final lap of bond issuances for the year, it is helpful to take stock of where the green bond markets are and what we could look forward to in 2019 and beyond. A

Bond yields remain steady despite inflation easing

Views - 61 Tuesday, 1 January 2019 00:00

By Wealth Trust Securities The secondary market bond yields closed the day broadly unchanged yesterday, despite the point to point inflation for the month of December reducing once again to 2.8% against the previous month’s level of 3.3% and the an

People’s Leasing and Finance moves up in ‘Business Today – Top 30’ listings

Views - 50 Monday, 31 December 2018 00:58

People’s Leasing & Finance PLC is the largest and leading nonbank finance sector institution in Sri Lanka affiliated to the People’s Bank. PLC marked a milestone as a top corporate by receiving recognition for the third occasion by the ‘Busines

A year of volatility draws to an end

Views - 181 Monday, 31 December 2018 00:58

The year 2018 was significant for its volatility as interest rates and the exchange rate faced turbulent periods due to external and internal developments. The secondary bond market remained active during the week ending 28 December 2018 as yields i

Women entrepreneurs dominate BOC ‘Thurunu Diriya’

Views - 22 Monday, 31 December 2018 00:57

BOC ‘Thurunu Diriya’ loan scheme has disbursed 191 loans for women entrepreneurs, while disbursing 121 loans for male entrepreneurs as at 21 November. This was revealed by a report on ‘Gender-wise breakdown of loans disbursed’ which was prep

ComBank provides Fairway Holdings Internet Payment Gateway facilities

Views - 132 Monday, 31 December 2018 00:55

The Commercial Bank of Ceylon has been chosen as the Internet Payment Gateway (IPG) service provider to the Fairway Holdings in a move to enable and facilitate online transactions for the fast-growing conglomerate. Already, Fairway Colombo, Fairway S

‘Enterprise Sri Lanka - BOC Thurunu Diriya’ disburses loans worth over Rs. 180 m

Views - 20 Monday, 31 December 2018 00:54

‘Enterprise Sri Lanka - BOC Thurunu Diriya’ loan scheme has disbursed loans worth Rs.183,800,500.00 among 427 young entrepreneurs island-wide up to date. This was revealed by the weekly progress report of implementing the ‘Thurunu Diriya’ lo

King dollar’s reign faces challenges in 2019

Views - 98 Monday, 31 December 2018 00:49

London/New York (Reuters): After an unexpected rally that carried the dollar to 18-month peaks and saw it end 2018 as investors’ top trade, the currency faces challenges in the coming year. They include an expensive valuation, a flagging equity boo

Twenty years of the euro: Key dates

Views - 26 Monday, 31 December 2018 00:47

PARIS (AFP): The euro was launched on 1 January 1999, at first only for accounting and financial transactions, and then three years later as notes and coins. Here is a recap of defining moments for the currency, which was envisaged in the European U

US dollar share of global currency reserves hits near 5-year low: IMF

Views - 29 Monday, 31 December 2018 00:46

(Reuters): The US dollar’s share of currency reserves reported to the International Monetary Fund fell in the third quarter to a near five-year low, while the euro’s share of reserves grew to its largest in almost four years, data released on Fri

Safe-havens yen and the Swiss franc rise on global growth concerns

Views - 16 Monday, 31 December 2018 00:45

SINGAPORE (Reuters): The yen and the Swiss franc rose on Friday, as investors sought shelter in safe-haven assets due to renewed US-China trade tensions and weaker-than-expected data in those two economies that revived global growth fears. Reuters re

SE Asia Stocks-End dismal year on tepid note

Views - 12 Monday, 31 December 2018 00:44

REUTERS: Most Southeast Asian stock markets were lacklustre on Friday, but saw off a year that was plagued by trade tension-driven equity sell-downs with significant annual losses. Thailand and Vietnam markets were the only ones that saw major intra

Sumitomo Mitsui weighs acquiring Asia banks to use some of $12 b surplus capital

Views - 49 Friday, 28 December 2018 00:00

TOKYO (Reuters): Sumitomo Mitsui Financial Group (SMFG) wants to acquire Asian commercial banks, utilising some of the up to $12 billion in surplus capital that Japan’s third-largest lender expects to build up over the next five years, its chief ex

Morgan Stanley unit to pay $10 million fine for anti-money laundering violations

Views - 43 Friday, 28 December 2018 00:00

(Reuters): Wall Street’s industry funded watchdog fined the US brokerage unit of Morgan Stanley $10 million on Wednesday for compliance failures in the firm’s anti-money laundering program, the regulator said. The Financial Industry Regulatory Au

Today's Columnists

Politicians and cricketers: Expected role, selection and performance evaluation (Part 2)

Thursday, 17 January 2019

Before commenting on the selection process, it is better to understand the ground realities and the nature of the beasts. Sri Lanka has a good theoretical education system. This system prompts students to ‘Cram-Remember-Express’ or ‘Read-Rememb

Open letter to M.A. Sumanthiran, MP

Thursday, 17 January 2019

Happy Pongal, Mr Sumanthiran! You and I are from two very different generations. In fact you belong to my uncle’s generation (sadly I don’t get along very well with my uncle). You are a child of the ’70s. I’m a child of the 90s. In a more tex

Why Gota gave me a ‘Gotler’ feeling

Wednesday, 16 January 2019

Bourgeoisie venues It is no accident that presidential-candidate hopeful Gotabaya Rajapaksa holds his Viyathmaga meetings in bourgeoisie spots. Once, it had been Shangri-La. Last Saturday, 12 January, it had been Waters Edge. Gota’s speech offered

A lie is also a truth

Wednesday, 16 January 2019

Gotabaya Rajapaksa is a determined contender for the presidency. His trenchant lecture to activists of the Viyathmaga forum demonstrated the man’s spiritedness and impulse to act. He is a driven man. What drives him?

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