Category: Banking and Finance

Sri Lanka’s Central Bank has approved the merger between Nations Trust Bank and Mercantile Leasing Ltd, a key shareholder of both units said Sunday.Sri Lanka’s Central Bank has approved the merger between Nations Trust Bank and Mercantile Leasing Ltd, a key shareholder of both units said Sunday. Shareholders of both entities approved the transaction where, […]

Management accountant practices could be better used for strategic planning than already done in listed companies according to some academics who studied their use.Management accountant practices could be better used for strategic planning than already done in listed companies according to some academics who studied their use. They presented their findings to the CIMA Sri […]

The bulk of Sri Lanka’s management accountant fraternity is busy crunching numbers or working in unrelated fields rather than doing a job for which they qualified, a recent survey showed.The bulk of Sri Lanka’s management accountant fraternity is busy crunching numbers or working in unrelated fields rather than doing a job for which they qualified, […]

Sri Lanka’s treasury secretary on Thursday vowed to translate president Mahinda Rajapakse’s subsidy-laden manifesto into economic jargon, though analysts warn that it could undo fiscal discipline and scare off investors. Sri Lanka’s treasury secretary on Thursday vowed to translate president Mahinda Rajapakse’s subsidy-laden manifesto into economic jargon, though analysts warn that it could undo fiscal […]

Mercantile Leasing Limited’s shareholders will go into an emergency meeting next week to approve a deal to merge with group peer Nations Trust Bank.Mercantile Leasing Limited’s shareholders will go into an emergency meeting next week to approve a deal to merge with group peer Nations Trust Bank. The emergency meeting set for November 28, follows […]

The Ceylinco group’s Seylan Merchant Leasing Limited will list 10 million ordinary shares by way of an introduction.The Ceylinco group’s Seylan Merchant Leasing Limited will list 10 million ordinary shares by way of an introduction. The Colombo Stock Exchange on Tuesday said it approved the listing of the Rs.10.00 shares on the secondary board. “The […]

The number of men and women moving to richer countries in search of better paying jobs, will increase further over the next 20 years.The number of men and women moving to richer countries in search of better paying jobs, will increase further over the next 20 years. A World Bank report says aging labour markets […]

Treasury Secretary Dr P. B. Jayasundera says he has little faith in Central Bank numbers.Treasury Secretary Dr P. B. Jayasundera says he has little faith in Central Bank numbers. “I was at the Central Bank Public Finance Department and wrote these reports for 20 years.It is the same thing again and again. For us to […]

US based AIG Insurance shed its Rs.8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday.US based AIG Insurance shed its Rs. 8.7 billion life portfolio of its Sri Lankan unit to Sri Lanka Insurance, to focus on general business, officials said Friday. Hayleys […]

Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be sugar coated to woo voters in the run up to next week’s keenly contested presidential poll.Sri Lanka plans to lean on foreign aid and debt relief to trim its deficit, though Tuesday’s budget will be […]

Sri Lanka’s Hatton National Bank said Monday that it posted a 777 percent growth in post tax profits for the three-months to Sept 2005.Sri Lanka’s Hatton National Bank said Monday that it posted a 777 percent growth in post tax profits for the three-months to Sept 2005. Group net profit for the third quarter was […]

If last week’s Extraordinary General Meeting vote of the Commercial Bank went ahead as planned the Chairman Mahendra Amarasuriya might have won considering the Appeal Court had limited the voting power of a group led by Harry Jayawardene to 10 percent from their 42 percent holding.If last week’s Extraordinary General Meeting vote of the Commercial […]