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The Asian Development Bank (ADB) is to extend a road restoration project in the North of Sri Lanka to give more communities from the once conflict-ridden region better access to social services and economic opportunities.
The Central Bank of Sri Lanka has released its annual publication on Public Debt Management for 2011- “Public Debt Management in Sri Lanka, Performance in 2011 and Strategies for 2012 and beyond”.
The rapidly advancing globalised corporate environment and the geographic expansion of corporate networks within and outside the country have brought into focus the urgent need for widely spread knowledge enhancement and training facilities. Therefore, it is clear that quick access to information, knowledge and quality training, are a crucial imperative in order to survive and ...
From left – Hennayake Bandara GM/CEO of NSB, Kapila Ariyaratne GM/CEO of Seylan Bank, Chandrasena Bandara Director of Cooperative Insurance Compan….
The Commercial Bank of Ceylon has opened a Branch in the scenic hill country town of Maskeliya, extending its award winning services to residents and travellers to this tea-growing region. Located at No. 244-246, Main Street, Maskeliya, the Bank’s 221st Branch was inaugurated by Commercial Bank Chairman Dinesh Weerakkody. The new branch is computer-linked to ...
Fitch Ratings Lanka has assigned People’s Leasing Company PLC’s (PLC, ‘AA-(lka)’/Stable) proposed commercial paper issue of up to LKR500m a National Short-Term ‘F1+(lka)’ rating. The proposed notes will have a tenure of one year, and will be used to finance the company’s working capital requirements. The rating reflects the potential extraordinary support ...
$ 450 m mega project to be completed in 2014 By Uditha Jayasinghe The Government has leased the iconic Transworks House land to India’s Krrish Group for 99 years at $ 49 million, whilst the $ 450 million mega project is slated to be completed by 2014. The land encompasses the Transworks House, a colonial ...
In clear signs that Sri Lanka’s trade with India is set to grow further and recent noise about Sri Lanka in Tamil Nadu has almost no impact on the surging Business-to-Business (B2B) linkages, a 45-member strong biz delegation led by S. Rethinavelu, Senior President of the Tamil Nadu Chamber of Commerce and Industries (TCCI) is ...
SriLankan Airlines established its presence in the most bustling district of the Southern Province, Hambantota, with the opening of a new sales office on Friday, 21 September. The branch office will facilitate travel formalities to a large clientele in the south-eastern coast area. The modern facility is equipped to handle reservations, ticketing, Prepaid Ticket Advices ...
The Central Bank of Sri Lanka (CBSL) recently provided a Technical Assistance (TA) to the Maldives Monetary Authority (MMA) aimed at developing foreign reserves management skills of the Maldivian Central Bank. This program helped to build MMA’s institutional capacity to formulate foreign reserves management policies and procedures and to manage its foreign reserves so as ...
By Amantha Perera JEJU, South Korea (IPS): As ravenous consumers of natural resources, companies are beginning to recognise that they owe a monetary debt to the planet, and are sharpening their pencils to calculate it. In 2004, when the International Union for Conservation of Nature (IUCN) held its four-yearly World Conservation Congress in Bangkok, Thailand, ...
Sri Lanka’s falling external deficits should allow the central bank to review its tight monetary and credit policies towards the end of the year, Governor Ajith Nivard Cabraal told Reuters yesterday.
The Central Bank, with the view to further improving the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, has issued the Banking Act direction No. 1 of 2012 on foreign exchange trading activities of licensed commercial banks.
The year-to-date net foreign inflow has surpassed the Rs. 30 billion mark as the Colombo stock market bounced back yesterday on the strength of a fresh round of buying, following profit taking early in the week. After a small outflow Rs. 31 million on Monday, the market has seen net foreign buying of nearly Rs. ...
Medawachchiya is a bustling town located in the Anuradhapura District, North Central Province of Sri Lanka. It is an important commercial centre of the northern region of Sri Lanka. Commencing from Medawachchiya, four main roads fan out in four directions. They are Jaffna, Kandy, Mannar and Trincomalee. Medawachchiya is situated 27km from Anuradhapura, on the ...
Fitch Ratings Lanka has affirmed Seylan Bank PLC’s (Seylan) National Long-Term rating at ‘A-(lka)’. The Outlook is Stable. A full list of the bank’s ratings is provided at the end of this commentary. Seylan’s rating reflects Fitch’s expectations of support from the State of Sri Lanka if required, given the bank’s systemic importance. However, the ...
The Central Bank (CB) yesterday in a statement issued new directives on foreign exchange activities that broadly cover market practices and ethical standards. The bank, with the view to further improve the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, ...
Reuters: Stocks fell 1.4 per cent yesterday as investors booked profits across the board in an overbought market after a 15-session rally. The Colombo Stock Exchange’s main index, which fell 2.2 per cent in early trade, recouped its early losses to end 1.04 per cent, or 61.67 points, weaker at 5,849.14. “We are going to ...
In an attempt to increase loan access to middle class consumers, DFCC Vardhana Bank and the Asian Development Bank (ADB) yesterday signed an agreement for a US$ 15 million 10-year lending facility. The facility granted to DFCC is expected to be disbursed amongst young entrepreneurs, first-time home ownership by family units, self-employed individuals and women ...
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently awarded training partner status to Lankaputhra Development Bank and AHL Business Solutions. Accordingly, Lankaputhra Development Bank and AHL Business Solutions will provide training for students following the chartered accounting course at the strategic level stage. At a ceremony held at the Institute’s Colombo ...
The unprecedented drought over the past few months due to the long delay of the south-west monsoon affected the entire country, resulting in withered paddy-fields to farmers; chicken farmers forced to slaughter animals due to water scarcity, soaring vegetable prices for housewives, and power cuts for everyone. The effects of the drought, the victims and ...
Nations Trust Bank’s much-awaited Corporate Quiz for their corporate elite will be staged at the Cinnamon Grand Oak Room on 21 September from 5:30 p.m. onwards. The quest to win this battle to supremacy among Sri Lanka’s corporate elite will be set on one of the most celebrated movie saga, ‘Tron’ based on the theme ...
Union Assurance PLC performing the charge of the light brigade in the last quarter, pulled off an unexpected 55/50 win over the fancied DFCC Group in the Mercantile Services Basketball Association “A” division League Tournament Final played at the Otter AC Courts, under lights, last Friday. DFCC, who got off to a cracking start led ...
ESPNcricinfo: Northamptonshire have decided not to renew Chaminda Vaas’ contract for 2013, citing the 38-year-old’s troubles with fitness last season. A variety of injuries saw the former Sri Lanka seam bowler play in only six of Northants’ 16 Division Two Championship matches and he also missed much of the Clydesdale Bank 40. Vaas had been ...
Reuters: Stocks fell one per cent on Tuesday from an eight-month high, snapping a four-day gaining streak as investors booked profits across the board. The Colombo Stock Exchange’s main index ended 0.98 per cent, or 58.28 points, weaker at 5,910.81. “The market is consolidating with a little bit of profit-taking and getting ready for the ...
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
Issue oversubscribed by two times, says Central Bank The Central Bank has had its latest issue of Sri Lanka Development Bonds oversubscribed by two times, bringing the total bid to US$ 121.05 million, the monetary institution said in a statement. The Central Bank of Sri Lanka, on behalf of the Government of Sri Lanka, ...
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
The Asian Development Bank (ADB) is concentrating on developing nine sectors including infrastructure in Sri Lanka and the far eastern region including Vietnam, Cambodia and Laos to foster economic development. “Asian Development Bank has assisted sub regional economic cooperation in the Greater Mekong Sub region (GMS) to enhance their economic relations, covering nine priority ...
Dialog Enterprise, the corporate solutions arm of Dialog Axiata PLC, has partnered with Sri Lanka’s largest listed bank, Commercial Bank of Ceylon PLC, to provide integrated enterprise communication solutions, which would ensure uninterrupted and highly secure connectivity leading to smooth banking services for Commercial Bank customers. The new data centre hosted at the Dialog Axiata ...