All Blogs
Big Appetite
Peoples Leasing Company (PLC) is looking to strengthen its top position in the leasing market, with an ambitious plan to penetrate deeper into the growing operating lease segment.rnrnrnrnrnrnrnNew Page 1rnrnrnrnrn Inrnthe absence of cheap pools of funds to draw on, the leasing giant is alsorntapping the local capital markets to borrow against their cashflows, usingrnsecuritised […]
Gilt Strip
The Central Bank will look at the possibility of permitting gilt stripping after the RTGS and scripless securities settlement system is up and running, opening up the possibility of making long-term bonds more liquid.ldblquote We will look again at coupon stripping after dealers have got familiar with the system, dblquote Deputy Governor W. A. Wijewardene […]
Real Late
Scripless trading of government bonds is likely to be delayed till October after a delay in pushing through legal changes.The Registered Stock and Securities Ordinance which was originally scheduled to have been changed in time for scripless trading to start in on September 09, failed to receive cabinet approval in time.rn rnldblquote But the Real […]
Still falling
Long term bond yields fell again at this weeks auction, with the Rs 2000 mn issue being oversubscribed around three times.The weighted average ten-year yield fell to 7.71% (48 basis below January auction) and 15-year yield fell to 7.63% (down 145 basis points).rn rnThe secondary market was already trading around these levels, with traders having […]
Pocket Banking
Celltel subscribers who bank with Sampath Bank can virtually carry their bank in their pockets, through an innovative SMS-based facility launched this week.Cell Banking SMS is an advanced, secure mobile communications link provided to all Celltel GSM users jointly by Celltel and Sampath Bank, to provide an instant real-time transaction facility that can be activated […]
Bonded
Bond dealers are expecting the Monetary Board to cut benchmark Overnight rates next week as inflation continues to fall.Bond traders who have been making super profits over the last few months are counting on a 0.5 percent cut in the Repo and Reverse Repo rates.rnrnWhile gains on portfolios come from falls in interest rates, some […]
EPF, ETF Merger
The two state pension funds, the EPF and the ETF are going to be merged next year in a bid to draw on synergies between the two.A consultant is expected to be appointed by the end of this month to look at how best to merge the funds that together will manage over Rs.320 bn.rn […]
Who Is The Winner?
A consortium of state institutions led by the Bank of Ceylon (BoC) has expressed interest in taking over undercapitalised Peoples Bank. The National Savings Bank (NSB) and the Employees Trust Fund (ETF) together with BoC have expressed interest in Peoples Bank according to highly placed sources.rn rnConglomerate John Keells Holdings is also said to be […]
Kapuwas Dilemma
The traditional kapuwa or marriage broker may be slowly going out of the scene, but certainly not his services.Local businessmen have now started to give a new face to the old kapuwa, with claimed higher rates of success.rn rnA number of match making and marriage services have sprouted in and around Colombo offering a variety […]
AMC Bite
An asset management company primarily created to take over half the dud loans of Peoples Bank will come with a bite that is stronger than the bark.According to a draft new law, companies that owe more than half their debts to the AMC can be taken over and run or liquidated by a special administrator.rn […]