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Deutsche Bank announced the implementation of a hybrid payment solution for Sri Lanka-basedandnbsp;John Keells Holdings PLC (JKH) that will streamline the companyandrsquo;s payment processesandnbsp;managed by its shared service centre, InfoMate (Pvt) Ltd.
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 ...
Once again last week foreign investors closed in a net buying which amounted to Rs. 601.37 million; this, however, was a w-o-w decline of 25.33% from previous’ net buying position of Rs. 805.32 million. The daily average net buying position amounted to Rs. 120.27 million relative to the previous week’s daily average of Rs. 161.06 ...
The Treasury bond market reflected a bull run during the week as yields dipped across all maturities. The reduced offered amounts at the weekly Treasury bill auction, the reduction in Central Bank’s placement rates coupled with markets expectations for rates to drop further were seen as the main reasons behind this. The weighted averages on ...
HELSINKI (Reuters): European Central Bank policymaker Erkki Liikanen said on Friday that setting up a European banking union would be a long-term project and it made sense in the meantime for European states to bolster fiscal cooperation. “This will not be ready overnight,” Liikanen, a member of the ECB’s Governing Council, said in a presentation ...
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 ...
Reuters: Plans to create a European banking union risks a supervisory split between countries in the euro zone and those outside, Europe’s top bank regulator said on Wednesday, warning of his concerns about the latest plan to tackle the financial crisis. Last week, the European Commission unveiled plans for the European Central Bank to supervise ...
Reuters: Apple Inc fans queued around city blocks worldwide on Friday to get their hands on the new iPhone 5, pointing to a strong holiday season for the consumer device maker despite grumblings about the mapping app in the new smartphone. The iPhone 5 – thinner, lighter and with a 4-inch screen – went on ...
LONDON (Reuters): Britain’s budget deficit widened to the biggest on record for any August, data showed on Friday, a day after the central bank chief said missing its debt goal was acceptable for the government. Public sector net borrowing excluding financial sector interventions rose to 14.410 billion pounds from 14.365 billion in August 2011 as ...
$ 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 ...
HDFC Bank donated valuable and urgently needed drugs to the Cancer Hospital, Maharagama, recently. This was organised by the members of the Sports Club of the Bank as a part of Bank’s CSR. In the picture HDFC Chairperson Siromi Wickramasinghe presents the drugs to Cancer Hospital Deputy Director Dr. Wasantha Dissanayake (second from right). HDFC Acting CEO/GM S. ...
BANGKOK (IRIN): South and Southeast Asia are home to 60 percent of the world’s population but have only 36 percent of its water resources – a situation likely to be exacerbated by population growth, rapid urbanisation, industrialisation, environmental degradation, groundwater overuse and climate change unless urgent remedial action is taken, say experts. Governments and aid ...
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 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 in this tea-growing region.
The Ceremonial opening of the Kekanadura Branch of the National Savings Bank was held recently. The branch is located at No. 6, Yatiyana Road, Kekanadura, Matara and will offer its clients the bankandrsquo;s full range of products and services.
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 ...
Standard Chartered Bank has unveiled twin product brands VVV Savings Account and Super Value Current Account. The product brands are market firsts and offer current and savings account holders, unique and tangible value. The product brands are designed to offer Standard chartered current and savings account holders with convenience in their transactional needs, and reward ...
Reuters: Manufacturing in China contracted for the 11th month in a row in September, according to a private sector survey of factory managers that indicated the world’s second largest economy remains on track for a seventh quarter of slowing growth. The HSBC Flash China manufacturing purchasing managers’ index (PMI) showed activity stabilized in September after ...
Reuters: Asian shares extended losses on Thursday after data indicated little respite for Chinese manufacturers, suggesting growth in the world’s second-largest economy slowed further in the third quarter. The MSCI’s broadest index of Asia-Pacific shares outside Japan extended losses to be down 0.7% on the day after the HSBC flash purchasing managers’ index was released. ...