Category: Banking and Finance

Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit.Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit. Post tax profits for the three months to Sept.30 rose to Rs. 730 million […]

Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth of claims.Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth […]

Officials of some Commercial Bank unions through press conferences and press articles are trying to depict that the shareholders of the Bank, are acting in a manner that is detrimental to the banking sector.Officials of some Commercial Bank unions through press conferences and press articles are trying to depict that the shareholders of the Bank, […]

The Central Bank said it is initiating a UNDP funded US$ 1 mn micro financing scheme to revive micro enterprises affected by last December’s tsunami.The Central Bank said it is initiating a UNDP funded US$ 1 mn micro financing scheme to revive micro enterprises affected by last December’s tsunami. The late effort hopes to give […]

US based AIG Insurance went to court on Monday, to transfer the life portfolio of its Sri Lankan unit to Sri Lanka Insurance Corp., officials said. US based AIG Insurance went to court on Monday, to transfer the life portfolio of its Sri Lankan unit to Sri Lanka Insurance Corp., officials said. Hayleys AIG – […]

Commercial Bank’s Chairman Mahendra Amarasuriya says he has secured 30 percent shareholder support to back him in next month’s Extraordinary General Meeting (EGM) convened to oust him form the board.Commercial Bank’s Chairman Mahendra Amarasuriya says he has secured 30 percent shareholder support to back him in next month’s Extraordinary General Meeting (EGM) convened to oust […]

Commercial Bank’s Chairman says he is disappointed at the lack of action by the banking sector regulator as a Extra ordinary General Meeting seeking his ouster drew nearer.Commercial Bank’s Chairman says he is disappointed at the lack of action by the banking sector regulator as a Extra ordinary General Meeting seeking his ouster drew nearer. […]

An Executive Director of TATA in India says Sri Lanka has to look for export led growth as its local market is too small for large-scale demand.An Executive Director of TATA in India says Sri Lanka has to look for export led growth as its local market is too small for large-scale demand. TATA is […]

Sri Lanka’s main opposition Sunday demanded the postponement of the annual budget until after the presidential vote next month, arguing that the government may use it to boost its electoral fortunes.Sri Lanka’s main opposition Sunday demanded the postponement of the annual budget until after the presidential vote next month, arguing that the government may use […]

Unions backing Commercial Bank of Ceylon’s staff are urging monetary authorities to ask a key shareholder to reduce his stakes and fall in line with banking regulations.Unions backing Commercial Bank of Ceylon’s staff are urging monetary authorities to ask a key shareholder to reduce his stakes and fall in line with banking regulations. Sri Lanka’s […]

The Asian share of the global environmental services is still small but its growth rate is picking up The Asian share of the global environmental services is still small but its growth rate is picking up Meanwhile rising oil prices is also creating a demand for energy efficient technologies. But this will not happen if […]

A new index fund hopes to capture the gains of Asia’s best performing bourse, with a top ten stock index that accounts for over half of market capitalisation in the local exchange.A new index fund hopes to capture the gains of Asia’s best performing bourse, with a top ten stock index that accounts for over […]