Category: Banking and Finance

Germany has extended two loans worth 20 million euros each to Sri Lanka to be utilized for long-term investments by private sector companies, the Finance Ministry said Thursday.Germany has extended two loans worth 20 million euros each to Sri Lanka to be utilized for long-term investments by private sector companies, the Finance Ministry said Thursday. […]

More voices are being raised against the stealthy appropriation of provident funds by the Sri Lanka government, through the use of negative real rates.More voices are being raised against the stealthy appropriation of provident funds by the Sri Lanka government, through the use of negative real rates. “Today we have inflation running at a certain […]

More voices are being raised against the stealthy appropriation of provident funds by the Sri Lanka government, through the use of negative real rates.More voices are being raised against the stealthy appropriation of provident funds by the Sri Lanka government, through the use of negative real rates. “Today we have inflation running at a certain […]

Sri Lanka’s Finance Ministry says tax revenues increased in the first four months of 2005 but did not say whether it was below or higher than the original target.Sri Lanka’s Finance Ministry says tax revenues increased in the first four months of 2005 but did not say whether it was below or higher than the […]

The government will miss the June 30 deadline to put out a mid year fiscal position report, as per its obligations in the Fiscal Management Act passed in 2003.The government will miss the June 30 deadline to put out a mid year fiscal position report, as per its obligations in the Fiscal Management Act passed […]

Sri Lanka’s Census and Statistics Department says the island’s consumer in June 2005, saved a total just over the minimum bus fare for a single journy.Sri Lanka’s Census and Statistics Department says the island’s consumer in June 2005, saved a total just over the minimum bus fare for a single journy. The Colombo Consumers’ Price […]

Sri Lanka’s ongoing political instability, poor infrastructure and limited access to capital are choking the country’s investment climate, a joint study by the Asian Development Bank and World Bank said.Sri Lanka’s ongoing political instability, poor infrastructure and limited access to capital are choking the country’s investment climate, a joint study by the Asian Development Bank […]

Senkadagala Finance raised Rs. 150 mn in fresh funds through a higher-purchase receipts backed debenture.Senkadagala Finance raised Rs. 150 mn in fresh funds through a higher-purchase receipts backed debenture. The private placement, structured by Investec Capital, is in line with Senkadagala Finance’s strategy to mobiles a larger part of its funds from low cost sources. […]

Hatton National Bank (HNB), on Wednesday confirmed obtaining a listing on the Luxembourg Stock Exchange for its Global Depository Receipts (GDR) issue.Hatton National Bank (HNB), on Wednesday confirmed obtaining a listing on the Luxembourg Stock Exchange for its Global Depository Receipts (GDR) issue. Through this listing HNB will place 1,766,470 GDRs in Luxembourg at an […]

Sampath Bank is considering an insurance subsidiary, pushing the service through its branch network.Sampath Bank is considering an insurance subsidiary, pushing the service through its branch network. The bank’s Managing Director Anil Amarasuriya on Wednesday said that the projects was in its conceptual stage and would need approval from its board of directors along with […]

Government sponsored welfare schemes like Samurdhi promise to help thousands jump the poverty trap. But experts say welfare systems alone, won’t eradicate poverty. Micro finance institutions, however, have had better success. Government sponsored welfare schemes like Samurdhi promise to help thousands jump the poverty trap. But experts say welfare systems alone, won’t eradicate poverty. Micro […]

Risk management is important for any company to deliver optimum shareholder value. For highly leveraged entities like banks, risk management takes an even more important role. Companies can earn economic profits, only if risks are managed. Risk management is important for any company to deliver optimum shareholder value. For highly leveraged entities like banks, risk […]