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RAM Ratings Lanka has reaffirmed the respective long- and short-term financial institution ratings of Standard Chartered Bank – Sri Lanka Branch (SCBSL) at AAA and P1; the long-term rating has a stable outlook. The ratings are firmly anchored by the credit profile of Standard Chartered Bank PLC of the UK (SCB-UK) of which the Bank ...
The exchange of goods and services has been around for as long as civilisations themselves, if not longer. Humans, being extremely adaptive to their environments, have always found ways to utilise resources and build surplus. This surplus was then used to trade in order to obtain resources and goods that weren’t abundantly available. Evolution of ...
The ceremonial opening of NSB’s Kekanadura Branch was held recently and this branch will offer its clients the bank’s full range of products and services. The branch opening was graced by Dullas Alahapperuma , Cabinet Minister of Youth Affairs and Skills Development as the Chief Guest, with the presence of Sunil S. Sirisena, Chairman NSB ...
Two groups totalling around 50 would-be Sri Lankan asylum seekers have arrived at the offshore processing centres in Papua New Guinea, but are unlikely to provide a bottleneck for the dozens more expected. The number of detainees during the last two months has topped 556, with total numbers since June estimated at around 1,400, showing ...
Tightening brakes on growth, Government data released yesterday showed the country has slowed to a two-and-a-half-year low, slipping from 7.9% in the first quarter to 6.4 % in the second when compared with the same period last year. A Reuters report noted that economic growth eased to 6.4 per cent in the second quarter ...
Reuters: The Central Bank is expected to keep interest rates steady for a fifth straight month on Tuesday despite high inflation to help bolster economic growth, which has been cooling due to sweeping policy measures and an extended drought. Twelve out of 13 analysts polled by Reuters expect the repurchase and reverse repurchase rates to ...
Aims to reduce travel time by 20 per cent; project to benefit an estimated 1.8 m people in five districts The Asian Development Bank (ADB) has approved US$ 98 million in loans for infrastructure development in Sri Lanka’s former northern war zone that will bring benefits to an estimated 1.8 million people, the organisation ...
Merchant Bank of Sri Lanka PLC. (MBSL), the pioneering investment bank in the country and a subsidiary of Bank of Ceylon, has made its presence felt in many districts, concentrating in the areas of leasing and hire purchase. Nurturing the new economic era prevailing in the country, MBSL has taken its investment banking activities such ...
Citizens Development Business Finance PLC (CDB) recently signed up for the Sri Lanka Interbank Payment System (SLIPS) through Commercial Bank, the first-ever to do so in the non-banking financial institutions category. SLIPS is an online interbank electronic fund transfer (ETF) system whereby the movement of funds from one account to another takes place without the ...
The Government has gazetted a Bill, on 27 July 2012, to set up a Divi Neguma Department, which will take over the existing Samurdhi Authority, the Southern Development Authority and the Udarata Development Authority (successor to the Kandyan Peasantry Commission). The Bill will also set up a Divi Neguma Community Based Organisation, Divi Neguma Community ...
Sri Lanka is ready and building the platform for the future US$ 100 billion economy, said Central Bank Governor Ajith Nivard Cabraal.
Third largest export Industry in the country praises Rishad for pioneering two surveys that the sector needs First survey starts next month, outlay at $ 22700 Findings to become input to ADB’s CCED model As global rubber prices are set to soar, Sri Lanka is moving to upgrade its rubber sector to capitalise on the ...
Currently discussing new courses with local and international universities By Cheranka Mendis The training arm of SriLankan Airlines, International Aviation Academy (IAA), is on an aggressive expansion plan, launching its services overseas while concentrating on capacity development and local youth engagement to the industry. IAA, which provides International Airline Training Association (IA...
Fitch Ratings Lanka has affirmed Citibank N.A. – Colombo Branch’s (CitiSL) National Long-Term rating at ‘AAA(lka)’. The Outlook is Stable. CitiSL’s rating reflects the financial strength of Citibank N.A.’s (Citibank) given that CitiSL is a branch and part of the same legal entity as Citibank. Citibank is rated at ‘A’/Stable, which is higher than the ...
Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. SCBSL’s rating is at the highest of the national rating scale and reflects the credit profile and financial strength of its parent Standard Chartered Bank PLC (SCB). The rating is tied to SCB’s Issuer ...
Fitch Ratings Lanka has affirmed HSBC Sri Lanka Branch’s (HSBCSL) National Long-Term Rating at ‘AAA(lka)’.The Outlook is Stable. The rating reflects the financial strength of parent The Hong Kong and Shanghai Banking Corporation Limited (HKSB; ‘AA’/Negative), given that HSBCSL is a branch of HKSB and is part of the same legal entity as HKSB. Thus, ...
The town of Kuliyapitiya welcomed 365 day banking with extended banking hours as Nations Trust Bank (NTB) opened their 54th branch recently. Kuliyapitiya is a large city in the Kurunegala District that excels in commerce, retail and agriculture enterprise and is home to the Wayamba University of Sri Lanka. Nations Leasing has long serviced the ...
1. Introduction Peter Drucker stated that, “Marketing is so basic that it cannot be considered as a separate function. It is the whole business seen from the point of view of its final result; that is, from the customer’s point of view… Business success is not determined by the producer but by the customer.” A ...
NEW YORK (Reuters): Comparing the Federal Reserve to a rehab clinic offering addicted investors a synthetic high has been a favorite of Wall Street wags ever since the first round of Fed stimulus nearly four years ago. The punch line is that you always need more and more to get the same high and each ...
By Cheranka Mendis The European Union has injected Euro 60 million (around Rs. 10 billion) in a four-year Support to District Development Program (SDDP) that was initiated in June this year, to support four war affected districts of the country. EU Sri Lanka Delegation Head of Operations Willy Vandenberge yesterday told the Daily FT that ...
US Assistant Secretary of State Robert O. Blake yesterday called on the Government to promote transparency and good governance in order to encourage more American investors. He told reporters at the end of his visit that investment could be encouraged if the Government took measures to improve the investment clime. A speech given by him ...
John Keells Foundation (JKF) commemorated International Literacy Day falling on 8 September by donating hundreds of books to the libraries of schools supported by JKF under its Neighbourhood Schools Development Project as well as the Village Adoption Project. The books were collected through a book donation campaign named “Gift of Knowledge” conducted among the staff ...
Sampath Bank, celebrating its 25th anniversary, recently concluded its popular series of educational seminars for Year 5 scholarship students, held for the third consecutive year, providing them with the opportunity to expand their knowledge and simultaneously win some great prizes. Sampath Pubudu and Sapiri Children’s Savings Accounts holders, as well as non-account holders, were equally .....
The Lanka Business Coalition on HIV and Aids (LBCH) launched their revamped website ‘www.lbchconnect.com’ with information and updates to educate, inform and raise awareness on HIV and AIDS on the premise that there is still a high level of ignorance of the disease and that prevention is better than cure. The event was attended by ...
Continuing islandwide commemorations to mark the 10th anniversary of its operations in Sri Lanka, Lanka IOC recently launched a massive tree planting campaign at the Bio Diversity Park behind the Parliament at Sri Jayawardenepura Kotte. Present on the occasion were B.M.U.D. Basnayake, Secretary, Ministry of Environment, Tilak Collure, Chairman, Ceylon Petroleum Corporation, Subodh Dakwale, Managin...
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
Continuing its growth momentum, Orient Finance PLC adds yet another milestone, with the opening of its doors to the acceptance of fixed deposits, subsequent to being licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No 42 of 2011 as a Finance Company.
Secretary Defence and Urban Development Gotabaya Rajapaksa yesterday laid the foundation stone for a new multi storeyed car park at the Central Bank premises. The secretary also unveiled a commemorative plaque. The Secretary was received by the Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal up on his arrival at the venue. ...
Top professional banker and HNB’s CEO Rajendra Theagarajah has been appointed to the Board of Carson Cumberbatch Plc as a Non Executive/Independent Director with effect from Wednesday. Following the latest appointment, the Board of Directors of Carson’s comprises Tilak De Zoysa (Chairman), H. Selvanathan (Deputy Chairman), Mano Selvanathan, Israel Paulraj, Chaminda Gunawardana, Suresh ...