Category: Banking and Finance

Sri Lanka has asked local and international aid agencies to disclose their tsunami-relief operations and sources of funding, saying the information was essential to reduce waste.Sri Lanka has asked local and international aid agencies to disclose their tsunami-relief operations and sources of funding, saying the information was essential to reduce waste. The Finance Ministry in […]

State run National Savings Bank stepped into the lucrative US$ 1.5 bn foreign worker remittances market by offering savings and fixed deposit products. State run National Savings Bank stepped into the lucrative US$ 1.5 bn foreign worker remittances market by offering savings and fixed deposit products. So far, the savings giant has been picking up […]

Sri Lanka’s key lenders will hold fresh talks with Tamil Tiger rebels to assess tsunami damage amid hopes of finalising a reconstruction plan estimated to cost 1.5 billion dollars, officials said Sri Lanka’s key lenders will hold fresh talks with Tamil Tiger rebels to assess tsunami damage amid hopes of finalising a reconstruction plan estimated […]

The Japan Bank for International Co-operation (JBIC) said Monday that it will not participate if a Trust Fund is set up to direct reconstruction aid to the North The Japan Bank for International Co-operation (JBIC) said Monday that it will not participate if a Trust Fund is set up to direct reconstruction aid to the […]

The Central Bank has upped the limit on tsunami loans to Rs 10 mn from Rs. 5 mn, for smaller hotels who were not covered by insurance.The Central Bank has upped the limit on tsunami loans to Rs 10 mn from Rs. 5 mn, for smaller hotels who were not covered by insurance. Priced at […]

Central Bank says it’s concessionary loan scheme has received 674 applications by tsunami affected business. Central Bank says it’s concessionary loan scheme has received 674 applications by tsunami affected business. The applications call for some Rs. 775 million in concessionary loans, the bank said on Tuesday. The applications are in response to the Bank’s Susahana […]

Sri Lanka plans to reward good taxpayers with a lottery scheme this year, as the government pulls out the stops to raise Rs.351 bn in tax revenue this year, Treasury Secretary said.The usually starved Treasury was rather well fed by end last year, thanks to a string of new taxes, including unpopular measures like retrospective […]

“I don’t want to fill any more tsunami forms,” is the first thing A P Gunawathi tells strangers visiting her present home – a displaced person’s camp in Dikwella, in the Matara district.“I don’t want to fill any more tsunami forms,” is the first thing A P Gunawathi tells strangers visiting her present home – […]

Sri Lanka’s tiny Rs. 17 bn insurance industry needs to ‘tighten up its act’ on regulation and solvency margins, after the recent tsunami left behind Rs.15 bn worth of claims, a research analyst warned. Sri Lanka’s tiny Rs. 17 bn insurance industry needs to ‘tighten up its act’ on regulation and solvency margins, after the […]

Sri Lanka’s biggest listed bank, Hatton National Bank, said it doesn’t expect to make a large provision for doubtful loans in the wake of last month’s tsunami disaster.Sri Lanka’s biggest listed bank, Hatton National Bank, said it doesn’t expect to make a large provision for doubtful loans in the wake of last month’s tsunami disaster. […]

The government kitty is showing signs of spilling over this year with new taxes adding on to donor contributions.The government kitty is showing signs of spilling over this year with new taxes adding on to donor contributions. The UPFA government launched on an intensive revenue collection campaign in 2004 and the results are already showing. […]

Around US$ 35 mn worth of monies have flowed into the Central Bank’s special tsunami disaster relief Fund.Around US$ 35 mn worth of monies have flowed into the Central Bank’s special tsunami disaster relief Fund. As at Friday, Rs. 3,522 mn had come in, which includes Rs.453 mn worth of funds channelled to the government […]