Banking and Finance

Bank Rating

Oct 09, 2008 (LBO) - Fitch Ratings Lanka has affirmed the National Long-term rating of DFCC Bank (DFCC) at 'AA(lka)' with a stable outlook. online pharmacy buy …

Postal Banking

Oct 09, 2008 (LBO) – Sri Lanka’s DFCC Vardhana Bank has struck a deal with Sri Lanka Post to use its post offices to reach more banking customers …

Winding Up

Oct 07, 2008 (LBO) - Sri Lanka's troubled merchant bank Vanik Incorporation said it had been ordered to wind up by the district court of Colombo in a case …

Reaching Out

Oct 07, 2008 (LBO) - The World Bank is increasing support for Sri Lankan small businesses, through its private sector funding arm, International Finance …

Dollar Loan

Oct 07, 2008 (LBO) – Sri Lanka has called proposals for a 300 million US dollar syndicated loan, with another 150 million US dollars now being …

State Support

Oct 06, 2008 (LBO) - Fitch Ratings Lanka has confirmed Sri Lanka's People's Bank (PB) national long-term 'A-(lka)' rating with a 'positive' outlook and the …

Global Jitters

LONDON, October 6, 2008 (AFP) - World markets suffered massive losses Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall …

Housing Woes

Oct 05, 2008 (LBO) - Sri Lanka's HDFC Bank, a state-backed mortgage lender, has been downgraded a notch from 'A-(lka)' to 'BBB+(lka)', on rising interest …

Honest Broker

Oct 05, 2008 (LBO) – US Treasury Secretary Henry Paulson's request from lawmakers for 700 billion dollars to bailout Wall Street banks, including one he …

State Intervention

WASHINGTON, October 3, 2008 (AFP) - US lawmakers Friday approved a historic financial rescue plan that was quickly signed into law, but the measure failed to …

Yield Chase

Oct 03, 2008 (LBO) – Sri Lanka's central bank promised more action against unauthorized deposit institutions but said those who lost money in recent …

Banking Reach

Oct 03, 2008 (LBO) - Sri Lanka's National Development Bank (NDB) said Friday it had got central bank approval to set up an investment bank in Bangladesh. …

Bows Out

Oct 02, 2008 (LBO) – Sri Lanka's former finance ministry secretary P B Jayasundera, who resigned as chairman from national carrier Sri Lankan Airlines, …

Reaching Out

Oct 01, 2008 (LBO) - The International Finance Corporation (IFC) is organizing a banking road show in Ratnapura, in southern Sri Lanka, to help small and …

Fair Value

BRUSSELS, September 30, 2008 (AFP) - The European Union is considering a shake-up in accounting rules as part of measures aimed being drafted in response to …

Hedge Profits

Oct 01, 2008 (LBO) - Sri Lanka's Citibank unit has reported sharply higher profits from hedging deals, Fitch Ratings said, confirming its 'AAA(lka)' long term …

Paper Issue

Sept 30, 2008 (LBO) - Sri Lanka's Mercantile Investment Limited (MIL), a registered finance company, is raising 100 million rupees through a commercial paper …

Deutsche Slam

FRANKFURT, September 29, 2008 (AFP) - Shares in German banks posted steep losses Monday as a distressed real-estate lender said it had been thrown a lifeline …

European Crisis

NEW YORK, September 29, 2008 (AFP) - US lawmakers agreed a 700-billion-dollar bailout of financial groups, but the financial hurricane slammed into European …

Hunky Dory

Sept 27, 2008 (LBO) – Sri Lanka's central bank has disputed as 'misleading' a statement by a rating agency that the country's macro-economic conditions …