Category: Banking and Finance

Commercial Bank of Ceylon has raised US$ 35 mn through a syndicated loan arranged by Standard Chartered Bank Colombo at slightly lower rate than the Sri Lankan government.Commercial Bank of Ceylon has raised US$ 35 mn through a syndicated loan arranged by Standard Chartered Bank Colombo at slightly lower rate than the Sri Lankan government. […]

Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business.Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business. ETI, a strong player in the pawning business for over 35 years, said its leasing business was only the beginning of its stride into […]

The Central Bank has opened a special bank account for Pramuka Bank’s customers to repay their loans, and issued a tough warning to willful defaulters. The Central Bank has opened a special bank account for Pramuka Bank’s customers to repay their loans, and issued a tough warning to willful defaulters. Process to liquidate Pramuka Savings […]

Sri Lanka is banking on Saudi Arabia’s tacit support to secure concessions from an upcoming OPEC Fund meeting.Sri Lanka is banking on Saudi Arabia’s tacit support to secure concessions from an upcoming OPEC Fund meeting. Saudi Arabia has been a long standing friend, says Finance Minister Dr.Sarath Amunugama and they have promised to ‘put in […]

Government is reviving plans to use a controversial United States offer to find money for forest conservation.Government is reviving plans to use a controversial United States offer to find money for forest conservation. The Tropical Rainforest Act allows countries, which owe money to the US treasury to channel a part of it to a conservation […]

The opposition is blaming bad economic policies for rapid price rises.The opposition is blaming bad economic policies for rapid price rises. The Treasury has made several attempts to correct macro-economic imbalances, but it has been thwarted by its own coalition partners in some cases. The Treasury has at last corrected fuel prices, preventing the build […]

Ten years ago bankers focused on decentralizing their operations.Ten years ago bankers focused on decentralizing their operations. But now technology and customer demands are driving the industry to pay more attention on centralizing their business operations. “Now the trend is towards centralization. Most of the banks in Colombo are also for that kind of thing,” […]

Asia Capital strengthened its position in the financial sector, finalised a deal to pick up a controlling equity stake in Finance and Land Sales Limited (FLSL) on Thursday.Asia Capital strengthened its position in the financial sector, finalised a deal to pick up a controlling equity stake in Finance and Land Sales Limited (FLSL) on Thursday. […]

Standard Chartered Bank is offering zero interest rate instalment schemes on purchases made on its credit cards.“People usually have about two or three cards in their wallet, but we want to be the preferred card, when it comes to purchasing things as there is a lot of value addition,” says Vishnu Mohan, CEO Standard Chartered […]

Pramuka Bank’s operations have been shifted to the Central Bank’s Staff Training Centre in Rajagiriya, freeing up precious millions to pay up depositors, the Central Bank said Thursday. Pramuka Bank’s operations have been shifted to the Central Bank’s Staff Training Centre in Rajagiriya, freeing up precious millions to pay up depositors, the Central Bank said […]

Standard Chartered Bank is offering zero interest rate instalment schemes on purchases made on its credit cards.“People usually have about two or three cards in their wallet, but we want to be the preferred card, when it comes to purchasing things as there is a lot of value addition,” says Vishnu Mohan, CEO Standard Chartered […]

The Public Enterprise Reform Commission says it is working on 30 state firms which will be restructured in the coming months.rnrn Among the rnhitlist are institutions like Shell Gas, Elkaduwa Plantations and Lanka Salt, rnwhich were previously earmarked for privatisation, PERC said in its website.rn However, Sri rnLanka Telecom is a notable absentee.rn Among the […]