Category:
Banking on IT
A top CitiGroup executive said adapting to and leveraging technology is the biggest challenge facing banks around the world. A top CitiGroup executive said adapting to and leveraging technology is the biggest challenge facing banks around the world. Victor Menezes a Senior Vice Chairman of Citi Group told LBR that banks in the sub continent […]
The Fact is…
Financial sector regulator called for banks and their auditors to work closely to ensure banks’ financial statements reflect their true position.Financial sector regulator called for banks and their auditors to work closely to ensure banks’ financial statements reflect their true position. Central Bank says this will help enhance the reputation of banks among the industry […]
Central Bank says incomes of rich people grew faster over the last five years
Central Bank says incomes of rich people grew faster over the last five years.Central Bank says incomes of rich people grew faster over the last five years. The bank, which released preliminary findings of its consumer finance and socio-economic survey, says living conditions and real incomes have however, improved across the board. “That the rich […]
Indian concert in Sri Lanka ends with blast, two killed
A grenade exploded at an Indian superstar’s concert in Sri Lanka’s capital Colombo, killing at least two people and injuring 18 others, police and doctors said. A grenade exploded at an Indian superstar’s concert in Sri Lanka’s capital Colombo, killing at least two people and injuring 18 others, police and doctors said. The grenade ripped […]
De-Stuffing
People are not eating much bread anymore, as early Central Bank findings show locals spending instead on better food, phones, education, and more fun.People are not eating much bread anymore, as early Central Bank findings show locals spending instead on better food, phones, education, and more fun. The Central Bank just wrapped up its Consumer […]
Tax Trap
The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The tax was slapped on beginning at this week’s […]
Local tea market will pay 15 % VAT for buying at the auctions
The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The tax was slapped on beginning at this week’s […]
Long Chat
Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide.Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide. Led and co-arranged by Hatton National Bank, the five year […]
Norway relieves Sri Lanka’s debt burden with a million dollar grant to partially repay loans owed to the World Bank
Sri Lanka has tapped Norwegian government’s generosity for a US$ 1.13 mn grant to settle part of its debts owed to the World Bank. Sri Lanka has tapped Norwegian government’s generosity for a US$ 1.13 mn grant to settle part of its debts owed to the World Bank. The grant has been provided to a […]
Govt. ramining stakes in NDB, Lanka Cement and Ceylon Shipping Agencies up for sale
The Government’s privatization arm has added a fresh set of minority stakes including parcels in NDB, Lanka Cement and Ceylon Shipping Agencies, to its list of passive investments for sale.The list included stakes in Galadari Hotels, Commercial Bank, Ceylon Agro Industries and shares in the plantation sector. Shareholding in quoted companies in the list, at […]
Sideslip
Sri Lanka’s aviation authorities have identified a new location for the second international airport for the island. Sri Lanka’s aviation authorities have identified a new location for the second international airport for the island. The 800-acre plot is located in Habaraduwa in the Galle District, near an existing airstrip in Koggala. “The next step will […]
Giant Strides
The Finance Ministry is speeding ahead with plans to set up an SME Bank early next year, with the paper work now before the Company’s Registrar.The Finance Ministry is speeding ahead with plans to set up an SME Bank early next year, with the paper work now before the Company’s Registrar. Mooted by the government […]