Financial Services

HNBA Group opens 2020 aiming for ‘Best in Class’

Views - 37 Thursday, 9 January 2020 00:36

Bearing the vision of being the ‘Best in Class’, HNB Assurance PLC (HNBA) and its fully-owned subsidiary HNB General Insurance Limited (HNBGI) unveiled its theme for 2020. Keeping an open mind about emerging market opportunities, challenges and

Seylan Bank ranked number one for ‘Customer Service Excellence’

Views - 52 Thursday, 9 January 2020 00:35

Marking yet another organisational milestone, Seylan Bank has been ranked number one in the Banking category by LMD for customer service excellence. As digitisation takes over day-to-day processes and automated systems handle customer services, it is

HDFC relocates Ambalangoda branch

Views - 33 Thursday, 9 January 2020 00:34

HDFC Bank relocated its Ambalangoda branch recently to a more spacious location to accommodate its increasing customer base and to provide greater reach, convenience and an enhanced banking experience to its customers. The new premises located at No

Your December expenses went overboard?

Views - 81 Thursday, 9 January 2020 00:29

Credit Cards can be a vital tool in managing one’s personal financials and its popularity has grown tremendously in recent times aided by attractive seasonal promotions offered by most credit card issuers. Unfortunately, this has also resulted in

Insurance industry grows at slower rate in 3Q of 2019

Views - 256 Thursday, 9 January 2020 00:24

The Insurance Regulatory Commission of Sri Lanka yesterday released the industry performance for the third quarter of 2019 which reflects growth though at a lower rate in comparison to a year earlier. Following are the key highlights. Gross Writte

Next trends in annual reporting: Regulators must create an enabling environment, says Acclivity

Views - 58 Wednesday, 8 January 2020 00:00

Digital transformation, the talk of the town, will be the game changer for innovative organisations. Shareholders and other stakeholders are shifting focus towards business status quo than ever before. Smart companies see annual reporting as a focal

‘Recent Tax Reforms’ – An-in depth analysis

Views - 599 Wednesday, 8 January 2020 00:00

The KPMG Academy is organising a discussion forum on ‘Recent Tax Reforms’ to expound on the changes which are taking place in the Sri Lankan tax regime. The forum will be held on 14 January at Ramada Hotel, Colombo where the key presentation will

Industry specialist LOLC sets record straight on microfinance

Views - 599 Wednesday, 8 January 2020 00:00

Microfinance is a major part of LOLC Group’s business and this achievement has come after carefully-crafted strategies, years of experience and expertise, and best practices. In fact LOLC’s microfinance success model has won many global accolades

Overseas buying in Asian equities jump to a three-year high in 2019

Views - 30 Wednesday, 8 January 2020 00:00

Reuters: Foreign flows into Asian equities turned positive in 2019 due to diminished fears about a Sino-US trade war and a fall in US interest rates, and analysts expect a recovery in regional economies to help keep the inflows coming in 2020. Overse

Ghaffoor retires as Amana Takaful CEO

Views - 116 Wednesday, 8 January 2020 00:00

Top professional Fazal Ghaffoor has retired as the CEO of Amana Takaful Plc with effect from 31 December. Ghaffoor previously occupied the position of Head-Marketing at Bank of Ceylon and Marketing Director for Ceylon Tobacco Co. Plc. Amana Takaful a

Prime Finance CEO to step down

Views - 140 Wednesday, 8 January 2020 00:00

Prime Finance PLC has announced that its CEO Prasanna Kaluarachchi will be stepping down from the post with effect from 28 February. Until a permanent person is found, Executive Director Sandamini Perera has been appointed as the Acting CEO. Kaluar

Sujeewa Mudalige appointed to NDB Board

Views - 152 Wednesday, 8 January 2020 00:00

Top professional Sujeewa Mudalige has been appointed to the Board of NDB as an Independent Non-Executive Director. Mudalige is the Managing Partner of PwC, Sri Lanka and counts over 30 years of experience as a Chartered Accountant. He is a FCA (ICA -

CSE remains bearish

Views - 58 Wednesday, 8 January 2020 00:00

The Colombo stock market remained bearish, despite higher turnover and net foreign inflow for the second consecutive day. Acuity Stockbrokers said the Bourse ended on a negative note as the ASPI decreased by 0.72% or 43.84 points to close at 6,026.09

Ceylinco General Insurance gets enjoining order against Allianz Insurance

Views - 577 Wednesday, 8 January 2020 00:00

The Commercial High Court has issued an enjoining order against Allianz Insurance Lanka Ltd. and 13 employees of Allianz insurance (former employees of Ceylinco General Insurance), preventing them from using confidential and sensitive information whi

364 day bill Weighted Average yield increases for the first time in three weeks

Views - 69 Wednesday, 8 January 2020 00:00

By Wealth Trust Securities The market favorite 364 day bill weighted average yield was seen increasing for the first time in three weeks at the weekly Treasury bill auction conducted yesterday as the ratio of total bids received to total offered amou

HNB Finance secures Silver at prestigious National Business Excellence Awards 2019

Views - 72 Tuesday, 7 January 2020 00:02

Leading finance company HNB Finance closed out what has been a dominant year for it on the awards circuit by clinching the Silver Award in the Non-Banking Financial Services Sector category of the National Business Excellence Awards 2019, held on 13

Fed faces new trade-offs, hunts for new model, in low-rate world

Views - 29 Tuesday, 7 January 2020 00:02

SAN DIEGO (Reuters): An unprecedented combination of low US unemployment, weak inflation and low interest rates has the US Federal Reserve grappling with how to fight the next recession, as experts debate new approaches to financial regulation as wel

Ceylinco Life introduces ‘Ceylena,’ a friendly chatbot accessible 24/7

Views - 43 Tuesday, 7 January 2020 00:00

Anyone browsing Ceylinco Life’s website can now meet ‘Ceylena,’ the life insurance leader’s newly-introduced virtual assistant who is available 24/7 to answer all insurance related questions instantly and point visitors to specific web pages

CB extends Perpetual Treasuries suspension

Views - 35 Tuesday, 7 January 2020 00:00

The Central Bank yesterday said it was extending the suspension of primary dealer Perpetual Treasuries in order to continue with investigations being carried out by the monetary authority. The Monetary Board of the Central Bank of Sri Lanka, act

Stock market opens fresh week on a negative note

Views - 56 Tuesday, 7 January 2020 00:00

The Colombo stock market opened a fresh week on a negative note midst relatively low turnover though there was positivity with net foreign inflow. Acuity Stockbrokers said the Bourse ended on a negative note as the ASPI decreased by 0.68% or 41.35 p

Bond yields increase marginally ahead of weekly bill auction

Views - 73 Tuesday, 7 January 2020 00:00

By Wealth Trust Securities The fresh trading week saw secondary bond market yields increasing marginally yesterday, on the back of selling interest ahead of today’s weekly Treasury bill auction.  The maturities of 15.03.23, 2024’s (i.e. 15.03.24

MTI wins India market entry project for Bank of Bhutan

Views - 48 Tuesday, 7 January 2020 00:00

Bank of Bhutan (BoB), the country’s oldest and largest commercial bank, has selected MTI Consulting to advise it on its market entry strategy for India. With the bank’s vision being “to be the nation’s premier financial institution” and to

Gold jumps to near 7-year high on US-Iran tensions; palladium breaches $2,000

Views - 29 Tuesday, 7 January 2020 00:00

Reuters: Gold surged close to a seven-year peak on Monday, as investors flocked to the safe-haven metal on escalating US-Iran tensions, while palladium surpassed the level of $2,000 to hit a record high. Spot gold rose 1.7% to stand at $1,577.98 per

A legacy of service: Sampath Bank ushers in new year by felicitating longstanding employees

Views - 42 Tuesday, 7 January 2020 00:00

In keeping with tradition, a large gathering of employees both past and present gathered together at Sampath Bank’s head office in Colombo on 1 January 2020 to usher in the new year. The day’s proceedings commenced with a customary invocation of

Bitcoin and cryptocurrency: Myths and realities – Part 3: The foundation

Views - 573 Monday, 6 January 2020 00:36

Every house needs a good foundation to stand on. Every tree requires strong roots to grow. Every train needs solid tracks to run on. Sensing a theme? Good! Roots, foundations, backbones, whichever term we use, a firm, solid base is important if you w

Bond market ends old year and kicks off new year on a bullish note

Views - 92 Monday, 6 January 2020 00:16

The secondary bond market was seen ending the year 2019 and commencing the year 2020 on a bullish note as yields were seen decreasing during the week ending 3 January on the back of renewed local buying interest. The yields on the liquid maturities o

SANASA Life Insurance wins UK Award along with National Business Excellence Award

Views - 30 Monday, 6 January 2020 00:15

SANASA Life Insurance Company Ltd., proving its supremacy in the insurance field once again has been recognised for its excellence with an international award. United Kingdom’s Global Banking & Finance Magazine which follows global financial growth

New CEO assumes office at SMB Leasing

Views - 194 Monday, 6 January 2020 00:13

SMB Leasing PLC has announced that the new CEO Supul Wijesinghe has assumed office with effect from 1 January. He replaced Sumedha Fernando who resigned on 31 December 2019. Wijesinghe was originally appointed as the Chief Executive Officer by the Bo

Bond yields close on mixed note

Views - 91 Friday, 3 January 2020 00:00

By Wealth Trust Securities The secondary bond market yields closed the day on a mixed note yesterday as yields on the 2024 maturities increased marginally and yields on the 2027 maturities decreased marginally, while two way quotes on the rest of th

Seylan launches ‘Seylan Merchant Portal’ for enterprises

Views - 181 Friday, 3 January 2020 00:00

Evolving its products & services to amplify and enhance customer experiences and convenience, Seylan Bank introduced ‘Seylan Merchant Portal,’ the first fully-fledged multipurpose digital payment platform in Sri Lanka. The payment platform is ful

Today's Columnists

Autocatalytic descent from plural democracy to supremacist authoritarianism

Wednesday, 29 January 2020

In a few days, Sri Lanka will celebrate its 72nd year of independence from colonialism. But behind the pomp and pageant of that celebration is a sad reality of an autocatalytic process – a small initial event triggering a chain reaction that evolve

Trump destroying brand USA: Implications for Sri Lanka

Wednesday, 29 January 2020

There is an old adage that ‘politics and tourism’ has a positive correlation. Many have tried to disprove this aspect but the relationship is coming out very strongly, the latest case study to the world being in the United States. Trump cost $4.

Freedom! Freedom! Where art thou?

Wednesday, 29 January 2020

Freedom: who could object? Yet this word is now used to justify a thousand forms of exploitation. In the name of freedom – the freedom of the powerful to exploit the weak, the rich to exploit the poor. The definition of freedom is, the condition of

Development project information: Public expectations and their right to know

Wednesday, 29 January 2020

Infrastructure development will be at the centre-stage during the next five years, irrespective of which mainstream political party will be in power. This writer has previously had articles published in the Daily FT on building regulations, infrastr

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