Category: Banking and Finance

KANDY — The International Monetary Fund may consider reviving a loan to Sri Lanka if the government provides it with clear plans to reduce poverty and develop the rural economy, an IMF official said.KANDY — The International Monetary Fund may consider reviving a loan to Sri Lanka if the government provides it with clear plans […]

Kandy – Sri Lankan received over US$ 2.2 billion worth of financial pledges during a donor parley on Monday amidst stiff protest from Buddhist clergy against a joint mechanism to deliver tsunami aid to rebel held areas, officials said.Kandy – Sri Lankan received over US$ 2.2 billion worth of financial pledges during a donor parley […]

The Monetary Board raised short term interest rates by 25 basis points for May and opted to pursue open market operations more aggressively to curb spiralling inflation. The Monetary Board raised short term interest rates by 25 basis points for May and opted to pursue open market operations more aggressively to curb spiralling inflation. The […]

The Monetary Board raised its short term interest rates by 25 basis points and opted to pursue open market operations more aggressively to curb spiralling inflation. The Monetary Board raised its short term interest rates by 25 basis points and opted to pursue open market operations more aggressively to curb spiralling inflation. The Central Bank […]

First Ratings Tuesday gave HDFC Bank’s housing loan securitization trust an AA- (sri) rating for its capacity to meet interest payments and principal repayments.First Ratings Tuesday gave HDFC Bank’s housing loan securitization trust an AA- (sri) rating for its capacity to meet interest payments and principal repayments. The rating applies to the Rs. 506 mn […]

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 […]