Category: Banking and Finance

ldblquote The aim is to make economic crime, uneconomic for the perpetuator and make him go elsewhere for his activities dblquote , says Prof. Barry Rider addressing a forum on Money Laundering organised by the Securities & Exchange Commission. rnrnHe called for proactive policing strategies and increased use of state intelligence resources to continuously monitor […]

The Council quote s former Chairman Rohan Masakorala told Lanka Business Online that it appears that the London underwriters were dragging their feet on the issue, despite favourable recommendations from the independent foreign security auditors. rnrnldblquote We asked the Minister to lead a delegation to at least waive the surcharge on Colombo and Galle. At […]

Referring to our recent story on JKH, Fitch says: ldblquote The report gives the impression that the meeting between JKH management and FRL analysts was related to impending rating decision with regard to the ldblquote Rating Watch quote currently placed on the company quote s SLAAA rating.Although lquote Rating Watch quote does indicate the possibility […]

Group turnover grew 21.6 percent or Rs. 553 mn to Rs. 3.1 bn during the period under review. rnrnHowever, the bank quote s net interest income during the third quarter has been lower than the second quarter, due to the sharp reduction in market interest rates. rnrnThe bank says a fall in market rates resulted […]

The company said Singapore based Stamford Press (Pvt) Ltd has shown an interest to acquire Lake House Bookshop quote s assets. rnldblquote Stamford Press has submitted an offer and the Board of Directors are finalising the negotiations, dblquote Lake House said in a statement to the Colombo Stock Exchange today. rnLake House Investments has been […]

Takaful is a mutual assurance service based on Islamic finance principles.rnInvestments of the insurance funds are placed in non-interest bearing instruments such as bullions, financing or equities that are permissible in Islam. rnAmana presently has a partnership with Takaful Malaysia, which is a formally regulated company in Malaysia. rnrnThough Amana Takaful was recognised under a […]

The bank quote s CEO Nihal Jayawardene declined to give the quantum required, but said they were on the look out to private investments. rnrnMERC Bank plans to achieve a break even by mid 2003 and current performance is in line with the target, Jayawardene told Lanka Business Online in an interview. rnrnThe bank is […]

SL BBB rating denotes a low expectation of credit risk. rnrnldblquote The capacity for timely payment of financial commitments is considered adequate, but adverse changes in circumstances and in economic conditions are more likely to impair this capacity, dblquote Fitch says in a release. rnrnThe rating takes into account SF quote s strong balance sheet […]

The Appeal Court upheld an earlier District Court decision, which barred HNB and its associates from selling the excess shares of Sampath Bank that was bought in the market last year. rnrnToday quote s ruling prevents both groups from voting on their holdings in Sampath Bank until court proceedings are complete. rnrnThe ruling also said […]

Complex financial transactions that include income securatisations and sale of loans have been increasingly used by local financial institutes to raise capital and improve their profitability. rnrnldblquote At minimum financial statements should include a disclosure about the complex financial transaction. The disclosure should explain the transaction and risk and rewards the company is exposed to […]

The swap would hedge the Horana plant quote s interest rate risk, by converting its US$ 10.8 mn floating rate, which is pegged to the three months London Inter Bank Offered Rate debt into a fixed rate. rnrnAitken Spence opted for the move, after US dollar interest rates reached historic lows following the US economic […]

ldblquote We are re-visiting our original strategic plan, taking in to account the experiences gained during the last two years dblquote , JKH Director Ajit Gunawardene told Lanka Business Online. rnrnldblquote There will be no major changes to the overall strategic direction dblquote , he said. NTB will continue to focus on gaining competitive advantage […]