Category: Banking and Finance

Italy today signed off a deal that will write off Sri Lanka’s debt to the EU member state , adding up to Rs. 850 million (Euro 7.13 million). Italy today signed off a deal that will write off Sri Lanka’s debt to the EU member state , adding up to Rs. 850 million (Euro 7.13 […]

Defaulters’ turning a new leaf and government lending, has helped Bank of Ceylon’s bottomline grow by 20 percent for the nine months to Sept.’05. Defaulters’ turning a new leaf and government lending, has helped Bank of Ceylon’s bottomline grow by 20 percent for the nine months to Sept.’05. Sri Lanka’s largest bank, also saw its […]

Sri Lanka on Tuesday picked up a Rs.80 million (JP¥ 90 million) grant to draw up plans to renovate the Jaffna Teaching Hospital, the finance ministry said. Sri Lanka on Tuesday picked up a Rs. 80 million (JP¥ 90 million) grant to draw up plans to renovate the Jaffna Teaching Hospital, the finance ministry said. […]

State-run People’s Bank has met its performance targets for this year, but a promised capital injection is yet to materialise.State-run People’s Bank has met its performance targets for this year, but a promised capital injection is yet to materialise. The technically insolvent bank said Tuesday that its net profits were down 10.6 percent to Rs. […]

State-run National Savings Bank’s net profits slip 13 percent as rising interest rates and stiff competition from private banks puts pressure on its bottomline. State-run National Savings Bank’s net profits slip 13 percent as rising interest rates and stiff competition from private banks puts pressure on its bottomline. Selected Indicators:

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 […]