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AIA Group Limited (andldquo;AIAandrdquo; or the andldquo;Groupandrdquo;) has agreed to acquire a 92.3% stake in Sri Lankan insurer, Aviva NDB Insurance, through Aviva NDB Holdings Lanka (Pvt.) Limited from British insurer Aviva and Sri Lankaandrsquo;s National Development Bank (andldquo;NDBandrdquo;).
Richardson Projects is a subsidiary of the Richardson Group, which is a pioneer in Sri Lanka’s electrical products and infrastructure industry recently launched the successor to Moeller brand Eaton. Moeller and Eaton, two of the most established and respected names in the electrical sector came together as Eaton acquired Moeller in the year 2008. In ...
The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
The academics are marching. The students are marching. The Muslims are marching. Every day hundreds images of throngs of people shouting slogans and demonstrating blare across television screens, newspapers and of course, the internet. SMS news alerts about road closures and barricades abound as popular discontent rises to the surface through trade union agitation and ...
Citizens Development Business Finance PLC (CDB) recently signed up for the Sri Lanka Interbank Payment System (SLIPS) through Commercial Bank, the first-ever to be so in the non-banking financial institutions category.
Medawachchiya is a bustling town located in theandnbsp;Anuradhapura district,andnbsp;North Central Provinceandnbsp;ofandnbsp;Sri Lanka. It is an important commercial centre of the northern region of Sri Lanka. Commencing from Medawachchiya, four main roads fan out in four directions. They are Jaffna, Kandy, Mannar and Trincomalee.
By Amantha Perera JEJU, South Korea (IPS): As ravenous consumers of natural resources, companies are beginning to recognise that they owe a monetary debt to the planet, and are sharpening their pencils to calculate it. In 2004, when the International Union for Conservation of Nature (IUCN) held its four-yearly World Conservation Congress in Bangkok, Thailand, ...
Sri Lanka is ready and building the platform for the future US$ 100 billion economy, said Central Bank Governor Ajith Nivard Cabraal.
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 ...
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.
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
Standing tall at 6 feet 10 inches, and surging towards stardom with Seylan Bank is Sri Lankan netball skipper Tharjini Sivalingam andmdash; theandnbsp; worldandrsquo;s tallest netballer, and considered the best player within the Asian Netballing Circuit.
10-day rally checkmated by profit taking on Rs. 2 b turnover; buying returns at tail-end Retailers, who staged a dramatic bull run in recent weeks, propelling indices to rise by over 10%, yesterday took what one broker described as a “well-deserved breather” as profit taking ruled the Colombo Bourse. The ASI after a momentary rise ...
LONDON (Reuters): Copper hit a four-month high on Monday as hopes for more policy easing in the United States prevailed and as weak copper and other commodity imports in China, coupled with weak factory activity, reinforced prospects for more stimulus measures there. Chinese data showed copper imports in August fell 2.9% from July due to ...
Merchant Bank of Sri Lanka PLC., the pioneering investment bank in the country and a subsidiary of andnbsp;Bank of Ceylon has made its presence felt in many districts, concentrating in the areas of leasing and hire purchase.
Forty-two loyal customers of Sampath e-remittance service were in for a bonanza during the Ramadan season participating in the Sampath Cash Wasi promotion. This was the second time that Sampath Bank conducted the Cash Wasi promotion to reward its loyal e-remittance customers. When it was introduced first time during the Sinhala New Year season, 32 ...
The Lanka Micro Finance Practitioners Association (LMFPA), as the apex body of Micro Finance Institutions (MFIs), in itsandnbsp; bid to address andandnbsp; create awareness about development and current status of the industry including best practices commenced a series ofandnbsp;Enabling Dialogues,andnbsp;where CEOs, General Managers, Directors of companies engaged in Micro-Financing (including Li...
Sri Lanka has much outside potential as the country is well positioned to attract Islamic finance and even non-Islamic segments of the society are lured to invest with Islamic windows of conventional banks which are developing into a major driver of the banking industry, Amana Bank CEO and Managing Director Faizal Salieh said.
The much anticipated Islamic Finance News Roadshow will be inaugurated today by the Governor of the Central Bank of Sri Lanka, Ajith Nivaard Cabraal. The Governor will deliver the key note address at this forum which will also see the attendance of many other key officials of the Sri Lankan Islamic banking and finance industry. ...
The Islamic Finance News (IFN) Roadshow, which is scheduled to take place this Thursday, will create an ideal forum to deliberate on the tremendous opportunities available for Islamic finance in the country, said Faizal Salieh, Amana Bank’s Managing Director/CEO. Amana Bank is the Lead Strategic Partner for the event, which will bring together the country’s ...
Former top civil servant Dr. Prathap Ramanujam has been appointed to the Board of Senkadagala Finance Plc as an independent non-executive director with effect from 1 September 2012. Dr. Ramanujam retired after 38 years of distinguished service in the public sector. He was the Permanent Secretary to several key Ministries including Tourism, Livestock Development and ...
The world-renowned Islamic Finance News (IFN) Roadshow will hit the shores of Sri Lanka this September, bringing together the country’s Islamic finance industry and its key regulatory stakeholders to one forum to discuss the issues, challenges and potential of the industry. Having pioneered the concept of Islamic banking in Sri Lanka, Amana Bank has partnered ...
IFC, a member of the World Bank Group, this week hosted an advanced trade finance seminar in Colombo to train bankers from Sri Lanka and Maldives on using sophisticated trade finance products, the better to serve small entrepreneurs engaged in international trade.
The world renowned Islamic Finance News (IFN) Roadshow will hit the shores of Sri Lanka this September, bringing together the country’s Islamic Finance industry and its key regulatory stakeholders to one forum to discuss the issues, challenges and potential of the industry.
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
DFCC Vardhana Bank (DVB) continues to uphold its status as one of Sri Lankaandrsquo;s fastest growing banks. Fitch Ratings Lanka re-affirmed the bankandrsquo;s national long-term rating of andlsquo;AA-(lka)andrsquo; (stable outlook) with DVBandrsquo;s subordinated debentures also rated at andlsquo;A+(lka)andrsquo;.
MBSL Savings Bank, a subsidiary of Merchant Bank of Sri Lanka (MBSL) continued its burst of expansion activity with the bankandrsquo;s relocation of its Kottawa Extension Office to no. 262/2A High-level Road.
A historic battle took place in the Kande Uda Rata Rajadhaniya, in the course of one of the many invasions by the Western colonial powers who once occupied what was known as the Maritime Provinces of Lanka, at the site of the ford at Wagolla village, a crossing point of the Mahaweli river on one ...
andlsquo;Haritha Kedalleandrsquo;, Hatton National Bank Nittambuwa branch building was presented andlsquo;Silver Flameandrsquo; Award at the andlsquo;Sri Lanka National Energy Efficiency Awardsandrsquo; held on 19 August at the Colombo Hilton.
A unique new savings account with exclusive benefits for women has been launched by Commercial Bank of Ceylon, in recognition of the fact that women are shouldering an increasing number of responsibilities while heading more and more Sri Lankan households, resulting in the economically active female population in Sri Lanka undergoing rapid growth.