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Top professional banker and HNB’s CEO Rajendra Theagarajah has been appointed to the Board of Carson Cumberbatch Plc as a Non Executive/Independent Director with effect from Wednesday. Following the latest appointment, the Board of Directors of Carson’s comprises Tilak De Zoysa (Chairman), H. Selvanathan (Deputy Chairman), Mano Selvanathan, Israel Paulraj, Chaminda Gunawardana, Suresh ...
By Uditha Jayasinghe Pushing ahead with Hambantota development, the Government yesterday announced plans to build an infrastructure hub in the town for Rs. 40 billion, with 85% funding from China. China’s Exim Bank is financing the construction of flyovers and roads in the southern town of Hambantota with the aim of making it a transport ...
Gain in Bourse’s collective value tops Rs. 400 b since year-to-date lowest level in early June Market cap short of Rs. 400 b to hit all-time-high figure of Rs. 2.6 trillion achieved on 2011 Valentine’s Day Demand for blue chips spearhead yesterday’s rally, joining retail-favoured second tier stocks ASI’s YTD dip now below 5% from 22% ...
Despite a reversal in the rate of exports decline and evidence of some improvement, Sri Lanka is actively moving to help its exporters to face the global downturn, with a challenging new $ 12 b export goal set for 2102. “Since you, the distinguished exporters, who account for nearly 80 per cent of Sri Lanka’s ...
The biggest savings bank in Malaysia, Bank Simpanan Nasional (BSN), says through higher loan revenues and increased community banking activities, they expect a 25% growth in profitability during 2012. This State-owned bank, which is targeting a net income of RM 1.3 billion, commenced expansion of its infrastructure with innovative delivery channels by introducing branchless banker ...
Continuing in its commitment towards strengthening and adding value for customers, Nations Trust Bank PLC recently opened its seventh Foreign Exchange Service Branch at Traveller Global Pvt Ltd. in Kandy. The new foreign exchange branch is strategically located at a central and convenient point in the heart of Kandy and offers customers, sales and encashment ...
Commercial Bank of Ceylon has launched a programme in collaboration with the Central Bank of Sri Lanka to enhance entrepreneurship skills in the Small and Medium Scale Enterprise (SME) sector. The first seminar of this programme was held recently for entrepreneurs who are in the SME and Micro Enterprise sectors in Nuwara Eliya. Officials of ...
HNB Assurance has announced the appointment of marketing professional Dilshan Perera as the company’s new Head of Marketing. As Head of Marketing at HNB Assurance, Perera will focus on enhancing marketing communications and customer relations strategies in streamlining the company’s efforts to connect with its stakeholders better, the announcement said. Perera brings a wealth .....
The Human Resources Research Program of Lirneasia has prepared and published a directory named “CHOICES – Higher Education Opportunities after A/Levels”. This directory gives out results of one of its researches, Lirneasia plans to carry out several in-depth researches into higher education field of subject. Lirneasia plans to make the directory available at major super ...
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
The main Opposition UNP yesterday warned that worsening exports among other issues would result in the Government resorting to higher taxation. “As Sri Lanka’s exports continue to decline, the Government would have no choice but to increase taxes,” UNP MP Dr. Harsha de Silva told a press conference yesterday. “The Central Bank has attempted to ...
The country’s export sector has recorded mixed fortunes, suffering its worst decline year-on-year whilst month-on-month manages to recover, as per latest external trade data released by the Central Bank yesterday. Marking the fifth consecutive dip YOY, the contraction in exports in July at 17.4% to $ 794.4 million was the worst in recent times though ...
The Central Bank yesterday said earnings from tourism and workers’ remittances continued to hold up, cushioning the current account of the Balance of Payments (BOP). It said earnings from tourism in July 2012 grew by 23.6%, year-on-year, to $ 100 million, while during the first seven months of 2012, earnings from tourism have grown at ...
The first monthly draw of the ‘Save and Be a Winner Twice Over’ was held recently at the Country Office of MCB Bank Sri Lanka located in Colombo 01 where the winners for the month of July 2012 were announced. The event was graced by Seema Ilahi Baloch, The High Commissioner of Pakistan in Sri ...
Continuing its growth momentum, Orient Finance PLC added yet another milestone with the opening of its doors to the acceptance of fixed deposits. This is subsequent to the company being licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 as a Finance Company. ...
The Central Bank of Sri Lanka has agreed to the Human Rights Council request to use all three national languages in currency notes. The issue was taken up by the Human Rights Council as the Center for Policy Alternatives (CPA) filed a petition pointing out that the Central Bank has not used the Tamil language ...
“In order to create long term economic stability, the creation of incremental wealth is imperative,” stated former Hatton National Bank Managing Director and CEO Rienzie Wijetilleke addressing the a luncheon meeting organised by the Sri Lanka – Italy Business Council of The Ceylon Chamber of Commerce. It was also noted at the meeting that whilst ...
KPMG Sri Lanka hosted a CEO and Islamic Finance Industry Leaders Round Table Discussion on 7 September at the KPMG premises in Colombo. The forum was addressed by KPMG’s Global Head of Islamic Financial Services Neil Miller who is an International expert in the field of Islamic Finance. Miller was a member of the ...
In the last 15 years, the major hospitals invested over Rs. 50 billion by way of total expenditure to increase capacity building within the private healthcare sector by investing in necessary infrastructure, cutting edge technology and continuous development in human capital in the clinical discipline. The centres have created several hundreds of employment opportunities with ...
Standing tall at 6 feet 10 inches, and surging towards stardom with Seylan Bank is Sri Lankan netball skipper Tharjini Sivalingam andmdash; theandnbsp; worldandrsquo;s tallest netballer, and considered the best player within the Asian Netballing Circuit.
10-day rally checkmated by profit taking on Rs. 2 b turnover; buying returns at tail-end Retailers, who staged a dramatic bull run in recent weeks, propelling indices to rise by over 10%, yesterday took what one broker described as a “well-deserved breather” as profit taking ruled the Colombo Bourse. The ASI after a momentary rise ...
Standard Chartered together with the Liverpool Football Club (LFC) will conduct the inaugural soccer clinic in partnership with the Football Federation of Sri Lanka and ‘Thaarunyata Hetak,’ on 15 September 2012 at the Maligawatte MC Grounds. The soccer clinics are part of the bank’s ‘Go Forward’ initiative which is its effort to not only provide ...
People’s Leasing Company PLC has secured the distinction of being the only Sri Lankan non-banking financial institution to secure two international credit ratings. The company, which is 75 per cent owned by state-owned People’s Bank, secured an international rating equal to the Sovereign from Standard & Poor’s (‘B+/B” Rating) and an international rating one notch ...
By Maheshi Perera The Central Bank has launched the fourth issue of Sri Lanka Development Bonds (SLDBs), aimed at raising $ 60 million by 24 September. The fresh SLDB’s tenure is three years and will be offered at a rate of US Dollar six month LIBOR plus a margin to be determined through competitive bidding ...
After a 17-month negative run, the active Milanka Index yesterday turned positive making a nostalgic day for investors as the rebound in the Colombo Bourse gathered further momentum. MPI was last positive on 1 March 2011 with a 0.50% gain but was negative since. It finished 2011 with 26% dip whilst by mid-June this year ...
Most senior officialwith 28 years of marketexperience Dhammika Perera appointed Deputy Director with oversight on surveillance, supervision and investigations Acting DG Dissabandara to concentrate on capital market development First stakeholder consultation fixed withbrokers on Friday The Securities and Exchange Commission (SEC) under new Chairman Dr. Nalaka Godahewa has affected the first i...
TEHRAN (FNA): Sri Lankan officials are concerned that the output of the Arabian Light crude used by the country after oil sanctions against Tehran to produce different oil products cannot be compared to the output of the Iranian Light, saying they are wary of the great loss they have sustained due to the replacement. Sri ...
The Sri Lanka-Vietnam-Greater Mekong Sub-Region Business Council (SLVGMSBC) of the Ceylon Chamber of Commerce will be organising an Interactive Evening with Kamal Dorabawila, Principal Investment Officer, World Bank – International Finance Corporation (IFC), Sri Lanka on 20 September at 6 p.m. at the Union Ballroom, Hilton Colombo Residences. Dorabawila will be addressing the gathering on .....
Cinnamon Lakeside Colombo celebrated twenty seven years with a host of activities taking place throughout the hotel. To mark this milestone Cinnamon Lakeside Colombo carried out an annual blood drive, encouraging associates of both the hotel and the John Keells group to donate. Since 1990 Cinnamon Lakeside Colombo has been running a blood drive that ...
The first Prime Minister of independent India, Pandit Jawaharlal Nehru, wrote 75 years ago: “It would be absurd to say that the profit motive does not appeal to the average Indian, but it is nevertheless true that there is no such admiration for it in India as there is in the west. The possessor of ...