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HDFC Bank, a specialized housing Bank launched the online Banking portal recently enabling customers to have access to their accounts at any time.
AIA Group Limited (andldquo;AIAandrdquo; or the andldquo;Groupandrdquo;) has agreed to acquire a 92.3% stake in Sri Lankan insurer, Aviva NDB Insurance, through Aviva NDB Holdings Lanka (Pvt.) Limited from British insurer Aviva and Sri Lankaandrsquo;s National Development Bank (andldquo;NDBandrdquo;).
Sampath Bank is launching a five year debenture worth Rs 1.5 billion with an option to increase it by a further Rs 1 billion if the issue is oversubscribed. The issue will be opened on Thursday 4 October 2012.
The Sri Lankan rupee strengthened yesterday as banks sold dollars on stock related inflows, dealers said.
The Asian Development Bank (ADB) is lending $130 million to help Sri Lanka expand the reach and quality of its electricity supply, with a focus on former conflict areas in the north and east of the country. It will also improve transmission and distribution network efficiency and develop renewable energy in other parts of the country.
The Asian Development Bank (ADB) is lending $ 130 million to help Sri Lanka expand the reach and quality of its electricity supply, with a focus on former conflict areas in the north and east of the country. It will also improve transmission and distribution network efficiency and develop renewable energy in other parts of ...
Reuters: The rupee strengthened on Thursday as banks sold dollars on stock related inflows, dealers said. The rupee closed 1.1 per cent firmer at 129.40/70 to the dollar compared with Wednesday’s close of 130.90/131. “The rupee stretched on heavy equity market inflows and we have seen exporters selling following the banks selling,” said a currency ...
Confirming that sound investment strategies could pay off handsomely NDB Group yesterday announced it will receive $ 59 million (around Rs. 7.7 billion at current exchange rate) from its deal with AIA. “The net receipts of US$ 59 m, arising out of these transactions, give an opportunity for the NDB Group to further strengthen the ...
Spain and Belgium are extending Euro 25 million worth of loans to Sri Lanka to build water supply schemes and reconstruct railway bridges, an official said yesterday. The two proposals were approved by the Cabinet on Wednesday, Cabinet Spokesman and Media Minister Keheliya Rambukwella told reporters. Bank of Spain has agreed to loan the Government ...
Amana Bank, Sri Lanka’s premier commercial bank to operate in complete harmony with the principles of Islamic banking, is offering competitive rates to purchase Saudi Riyal this Haj season. The bank is also offering a handy bag especially designed to be used during the pilgrimage for pilgrims who buy over 2,000 Saudi Riyals. Speaking on ...
Nations Trust Bank (NTB) added an important milestone with the opening of their second branch in the busy bazaars of Pettah offering 365 day banking with extended banking hours. With the expansion in Pettah Nations Trust Bank reiterates its commitment to service this time-honoured business district in Colombo with its’ bustling shops, boutiques, open marke...
Sampath Bank is launching a five year debenture worth of Rs. 1.5 billion with an option to increase it by a further Rs. 1 billion if the issue is oversubscribed. The issue will be opened on Thursday 4 October. The debentures have been rated A + (lka) by Fitch Rating (Lanka) Limited and will be ...
RAM Ratings Lanka has reaffirmed the respective long- and short-term financial institution ratings of the People’s Bank at AAA and P1; the long-term rating has a stable outlook. The ratings are premised on the Bank’s position as the second largest licensed commercial bank in Sri Lanka, its above-average asset quality, good performance and healthy funding ...
Richardson Projects is a subsidiary of the Richardson Group, which is a pioneer in Sri Lanka’s electrical products and infrastructure industry recently launched the successor to Moeller brand Eaton. Moeller and Eaton, two of the most established and respected names in the electrical sector came together as Eaton acquired Moeller in the year 2008. In ...
Etisalat Sri Lanka has partnered with Commercial Bank to introduce mobile banking via USSD (Unstructured Supplementary Service Data) technology, a global system for mobile communication used to send a text between a mobile phone and an application program in a network. Etisalat users can now enjoy the convenience of conducting their banking activities with Commercial ...
99X Technology, formerly known as Eurocenter DDC, was recognised as the Outstanding Exporter in 2011 in the Gold Category for the Export of Business and Professional Services Sector at the 20th NCE Export Awards, which was held on 21 September at Hilton, Colombo. The award benchmarks 99X Technology as an innovative thought leader in the ...
The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
At Standard Chartered, banking is certainly core business but this has never deterred or precluded the bank from contributing positively to communities which its business calls home. Standard Chartered is recognised globally as the single biggest corporate sponsor of avoidable blindness projects around the world. Seeing is Believing (SiB) is a major global public-private initiative ...
Reuters: A younger vision of Leonardo da Vinci’s “Mona Lisa” will be presented in Geneva on Thursday with the suggestion that it is the original version of what has been called the world’s most famous painting. The Swiss-based Mona Lisa Foundation organising the event said on Wednesday that detailed research over three decades strongly indicates ...
Although the Asian region is better prepared for economic turmoil than it was a decade ago, high levels of financial, trade and investment integration with the Western economies ensure that no country is immune to the effects of the Eurozone debt crisis. While most of the European Union (EU) economies struggle to design new austerity measures to ...
Asian Development Bank (ADB) Vice President Xiaoyu Zhao has declared that Sri Lanka has big potential than any other country in Asia to become the most viable and attractive regional economic hub. “Strategic location, post conflict infrastructure development initiatives, peace and stability, high economic growth and able leadership are the main factors behind these potential,” ...
Capital Alliance Finance (CALF) yesterday announced plans to raise Rs. 73 million via a one for seven Rights Issue at Rs. 15.00 per share to issue 4.8 million shares. Funds raised via the move, which is subject to shareholder approval, will be utilised to abide by the Central Bank Minimum Core Capital requirement.
The Commercial hub of the island, Colombo has recently drawn a great deal of positive attention from Standard Chartered. The bank’s regional teams, impressed with Sri Lanka’s recent economic progress and development in business, have recognised the city as an ideal venue to host global conferences. In the next few months the local branch office ...
India’s corporate giant TATA Steel’s Head of Corporate Social Responsibility (CSR) Mr. Biren Bhuta is scheduled to deliver the keynote address at the upcoming Best Corporate Citizen Award 2012 organised by the Ceylon Chamber of Commerce. The Best Corporate Citizen Award will be held for the ninth consecutive year on 12 Novemberat the Cinnamon Grand. ...
As anticipated, Central banks borrowing costs dipped considerably at its weekly Treasury bill auction held yesterday. The market favourite 182 day maturity reflected the sharpest weekly decline of 34 basis points (bp) on its weighted average while the 364 day maturity dipped by 28 bp. Furthermore the 91 day maturity reflected a decline of 11 ...
Reuters: Barclays (BARC.L) will shut three of its nine bank branches in India by the end of this month, two sources with direct knowledge of the development said on Tuesday, as the British bank reduces its retail banking operations in the country. Britain’s fourth-largest bank is expected to cut about 30-40 jobs as a result ...
Reuters: Banks are getting round new rules intended to make a still vulnerable industry safer while countries are distracted by the continuing financial crisis, the International Monetary Fund said on Tuesday. The IMF’s latest Global Financial Stability Report said banks will adjust to new costs from tougher regulation to curb excessive risk taking, with deep-pocketed ...
HDFC Bank, a specialized housing Bank launched the online Banking portal recently enabling customers to have access to their accounts at any time. This ensures fast, easy and secure access to HDFC accounts. HDFC Bank was in the process of upgrading its services continuously for the past period considering the evolving needs of its customers ...
HSBC has successfully implemented a complete payment processing solution for Aitken Spence’s Financial Shared Services Centre. (FSSC) The solution implemented by HSBC Payments and Cash Management has a host of unique features including the use of XML (Extensible Markup Language) based ISO 20022 which is now the global industry standard for data transmission. In addition ...
The academics are marching. The students are marching. The Muslims are marching. Every day hundreds images of throngs of people shouting slogans and demonstrating blare across television screens, newspapers and of course, the internet. SMS news alerts about road closures and barricades abound as popular discontent rises to the surface through trade union agitation and ...