Smoke Screen
Sri Lanka was considering bringing back heavy taxes to discourage foreign ownership of land amid a surge in the sale of beach property to non-nationals, a …
Banking and Finance
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Disclosure Regulation
A former securities regulator is calling on authorities to mount a public education campaign to increase awareness about pyramid schemes.Central Bank has …
Customs Fraud
The Customs Department investigators are probing whether Gold Quest customers defrauded the state of revenue, by undervalueing imported Gold coins to the …
Gaol Quest
Customers of Gold Quest, who were hoping to gain total financial freedom within three years by joining the firms controversial lquote binary compensation plan, …
Dollar Challenge
Sri Lanka has been asked to submit its proposal promoting economic growth to draw down funds from the Millennium Challenge Corp.s (MCC) billion-dollar …
Boom Times
The Seylan Merchant Bank (SMB) Groups earnings doubled for the first quarter ending March 31, boosted by its booming leasing portfolio.In results released this …
Clean Deal
Commercial Bank of Ceylon will scrap the commission charged on cheques drawn on its outstation branches starting June 1, 2004.This means that recipients of …
Comfort Zone
Leasing specialist, Ceylease Financial Services, has secured a BBB-(sri) national rating for its long term senior debt, from Fitch Ratings Lanka.A BBB-(sri) or …
Pyramid Warning
The Sri Lanka Banks Association (SLBA) warned the public not to invest in get-rich-quick pyramid schemes, which may result in losses.Pyramid schemes are money …
Changing Winds
Shifting its revenue balance away from interest-income, Seylan Bank will introduce new fee-based products to its current product offer. SeyLink, its version of …
Steady Walk
A growth in fee-based income and faster recoveries helped the Bank of Ceylon double its bottomline for the quarter ending March 31, 2004.The state-run banks …
Comfort Zone
Seylan Bank has secured an A-(sri) national rating for its long-term senior debt from Fitch Ratings Lanka.At the sametime, Fitch has also given Seylans …
On Loan
The External Resources Dept., is negotiating with Japanese funding agencies for a fresh US$ 85 mn credit line for the small and medium scale industry.online …
New Feather
Sri Lanka has been selected to the 34 member Inter-governmental Group of Experts on International Standards of Accounting & Reporting (ISAR) at a recent UN …
Very Bad
Central Bank on Wednesday issued a fresh warning against unauthorised deposit taking, as the public continued to chase after higher return for their savings. …
Talent Spotting
Venture capitalist, Aureos Lanka Advisers, has launched a US$ 10 mn fund to invest in ongoing projects in Sri Lanka and Bangladesh.Formerly known as Ajoyana …
Right Practice
The CIMA Division Sri Lanka will host its annual conference next week, showcasing success stories of companies that have leveraged best practices to make a …
Interesting News
Commercial Bank of Ceylon saw its earnings take a dip during the first quarter of 2004, largely due to losses from its primary dealer subsidiary and higher …
Fire Fire!
The Insurance Board of Sri Lanka (IBSL) is studying the Sri Lankan industry and international practices to modernize and reform the insurance regulatory …
Risk Return
In its strategy to concentrate its resources to grow its core competencies, the John Keells Group is outsourcing its entire insurance portfolio to Delmege …