Category: Banking and Finance

Inland Revenue is finalising procedures to issue Gold and Silver cards to reward good tax payers.Inland Revenue is finalising procedures to issue Gold and Silver cards to reward good tax payers. “We will carry a paper notice soon asking people to apply for the cards,” said Commissioner General of Inland Revenue, R P L Weerasinghe. […]

Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. Analysts expect a market correction in the coming weeks after the galloping Colombo bourse hit an all time high on Friday. The rally was sustained by medium capitalized stocks that were snatched up by […]

Sri Lanka has only one active rating agency, and a few dozen ratings. India has nearly 1400 ratings and four agencies. In our Q and A this week, the Money Report speaks to Amit Tandon, Head of Fitch Ratings in India. Sri Lanka has only one active rating agency, and a few dozen ratings. India […]

Closely held Seylan Bank and its subsidiaries saw profits shrink last year but its CEO says aggressive management of its loan book should produce a better performance this year.Closely held Seylan Bank and its subsidiaries saw profits shrink last year but its CEO says aggressive management of its loan book should produce a better performance […]

Commercial Bank of Ceylon is delving deeper into the local corporate debt market by offering to subscribe, hold and sell competitively priced paper above conventional savings products.Commercial Bank of Ceylon is delving deeper into the local corporate debt market by offering to subscribe, hold and sell competitively priced paper above conventional savings products. Having structured […]

Sri Lankan nationalists Friday warned they will step up protests against a proposed government deal with Tamil rebels for the distribution of tsunami aid amid fears for the shaky ruling coalition. Sri Lankan nationalists Friday warned they will step up protests against a proposed government deal with Tamil rebels for the distribution of tsunami aid […]

The Commercial Bank Group, its subsidiaries and associate companies, has reported satisfactory growth in key performance indicators in the first quarter of 2005, despite the adverse effects on its exchange profits by the post-tsunami appreciation of the Rupee against the US Dollar. The Commercial Bank Group, its subsidiaries and associate companies, has reported satisfactory growth […]

SYDNEY, May 3 (AFP) – Hundreds of containers holding supplies for tsunami victims are stranded on a wharf in Sri Lanka because customs officers are demanding extra taxes and storage fees, according to angry Australian charity workers.SYDNEY, May 3 (AFP) – Hundreds of containers holding supplies for tsunami victims are stranded on a wharf in […]

The Multilateral Investment Guarantee Agency (MIGA) – international insurer against non-commercial risk, in the World Bank group – to set up a trust fund to encourage private investment in Sri Lanka.The Multilateral Investment Guarantee Agency (MIGA) – international insurer against non-commercial risk, in the World Bank group – to set up a trust fund to […]

India offered a three-year debt moratorium to Sri Lanka during a review of their bilateral relations at high-level official talks here, the two sides said in a joint statement Tuesday.India offered a three-year debt moratorium to Sri Lanka during a review of their bilateral relations at high-level official talks here, the two sides said in […]

Asian Development Bank (ADB) and the Japan Bank for International Cooperation (JBIC) say their tsunami reconstruction aid cannot be channeled through a trust fund controlled by the LTTE.Asian Development Bank (ADB) and the Japan Bank for International Cooperation (JBIC) say their tsunami reconstruction aid cannot be channeled through a trust fund controlled by the LTTE. […]

Norway has allocated Rs. 1.7 billion towards Sri Lanka’s post tsunami relief work, the Royal Norwegian Embassy said Thursday.Norway has allocated Rs. 1.7 billion towards Sri Lanka’s post tsunami relief work, the Royal Norwegian Embassy said Thursday. About Rs. 906 million of the funds, will be earmarked for humanitarian relief to provide temporary shelter, water […]