Category: Banking and Finance

The local insurance industry premium income grows by about 20 percent a year but as a percentage of GDP, the premium revenue account for less than 1.5 percent. The local insurance industry premium income grows by about 20 percent a year but as a percentage of GDP, the premium revenue account for less than 1.5 […]

Japan will provide around US$ 250 million to Sri Lanka, the first under a new preferential aid scheme for peace building.Japan will provide around US$ 250 million to Sri Lanka, the first under a new preferential aid scheme for peace building. On its part, the Sri Lankan government would have to maintain consistency in its […]

The insurance watchdog is taking a serious look at mandating firms to get a listing on the Colombo Stock Exchange within three years, a top official said.The insurance watchdog is taking a serious look at mandating firms to get a listing on the Colombo Stock Exchange within three years, a top official said. The issue […]

People’s Bank is anticipating a Rs. 8.5 billion cash injection from the State to shore up its capital account by mid next year. People’s Bank is anticipating a Rs. 8.5 billion cash injection from the State to shore up its capital account by mid next year. "We submitted our proposals to SEMA. We are hopeful […]

Newly renamed Pan Asia bank said they plan to get a listing on the Colombo Stock Exchange next month and raise new capital next year. Newly renamed Pan Asia bank said they plan to get a listing on the Colombo Stock Exchange next month and raise new capital next year. Pan Asia now called PABC […]

Sampath Bank has started using image clearing technology to process cheques even before Sri Lanka’s national cheque clearing centre, Lanka Clear is ready to move into cheque truncation. Sampath Bank has started using image clearing technology to process cheques even before Sri Lanka’s national cheque clearing centre, Lanka Clear is ready to move into cheque […]

The plantation companies want the government to bring down the Economic Service Charge (ESC) from one percent to 0.5 percent for the plantation industry. The plantation companies want the government to bring down the Economic Service Charge (ESC) from one percent to 0.5 percent for the plantation industry. Double Edge   The extended deadline to […]

Sri Lanka’s slow moving donor funded projects, will be fast tracked through a high powered cabinet subcommittee chaired by the President, Cabinet Spokesman said Thursday. Sri Lanka’s slow moving donor funded projects, will be fast tracked through a high powered cabinet subcommittee chaired by the President, Cabinet Spokesman said Thursday. Sri Lanka is expecting some […]

Any new levies that the Sri Lankan government proposes for its 2005 budget shouldn’t be applied retroactively, as such a policy will erode foreign investor confidence, a tax expert warned Monday.Any new levies that the Sri Lankan government proposes for its 2005 budget shouldn’t be applied retroactively, as such a policy will erode foreign investor […]

The odds for star-spangled Sri Lankans to strike it rich in a game of chance just got better, with a third lottery operator now active in the market The odds for star-spangled Sri Lankans to strike it rich in a game of chance just got better, with a third lottery operator now active in the […]

Loss making state entities face the axe under a revised mandate for the Public Enterprises Reform Commission (PERC), now in the last stages of finalisation. Loss making state entities face the axe under a revised mandate for the Public Enterprises Reform Commission (PERC), now in the last stages of finalisation. Strategic Enterprises Reform Commission (SEMA) […]

An enhanced retirement plan incorporating greater flexibility and additional benefits, has been launched by Ceylinco Life.An enhanced retirement plan incorporating greater flexibility and additional benefits, has been launched by Ceylinco Life. Among the key features of the Ceylinco Retirement Account (CRA) is its flexibility to adapt to individual customer requirements. Each customer is given the […]