Banking and Finance

Get Closer

In a statement late Friday, the Sri Lanka Accounting & Auditing Standards Monitoring Board (SLAAMB) says the Ceylon Theatres Group failed to consolidate Lanka …

Coming Soon

Central Bank Governor A S Jayawardene says it is a prudential requirement, which increases transparency and accountability.rnrnSo far a handful of local banks …

Coastal Trip

The Asian Development Bank has come forward with a US$ 20 mn loan to uplift the living standards of people in the Eastern Province.The loan, for the North East …

Natures Reward

The Association of Chartered Certified Accountants of the UK introduced their environment and social sustainability reporting awards to the country …

Four Stars

A four-member team from Sri Lanka Insurance Corp.s technical partner ING, started work this week to give the former state insurance giant a facelift.The team …

Growing Up

The Seylan Merchant Bank (SMB) Group has reported a three fold growth in pre-tax profits for the third quarter ending Sept. 2003.Consolidated pre-tax profit at …

Lifting Up

Ceylinco Life, has achieved record-breaking results in the first nine months of 2003, with a healthy 32 percent growth in premium income.The firm said this …

Lucky Dip

The Mahapola Trust Fund is matching numbers with US lottery solutions provider, GTECH to spin off its own sweepstakes operation next year.Betting Rs. 400 mn on …

Cease Lease

Attempts through the budget to force leasing companies to pay tax could make leasing unattractive and uncompetitive according to the industry.Government in its …

No Sacred Cow

The UNF administration looks set go ahead with the tax on share trading profits, with the same determination, it is implementing unpopular reforms against less …

Soaring Eagle

Eagle Insurance says its net profits have soared 55 percent for the first nine months of this year, despite stiff competition in the local arena.Group net …

Bonus Stocking

All pensioners are in for a New Year bonus, with a ten percent hike in pensions from January 1 2004, the Government announced in its budget on …

Can or Cant?

Central Bank cut its 2004 GDP growth forecast to six percent from an earlier 6.5 per cent after factoring in current uncertainties in the peace process and the …

Long Haul

Sri Lanka is in the top three alongside Thailand and the Maldives as a tourist hotspot for long-haul travel, but still needs a vital mix of peace, competitive …

Free Flow

The upcoming Exchange Management Act adds muscle to the Finance Minister, and puts stiff financial penalties on wilful defaulters.Currently in gazette form …

Big Bite

Commercial Bank of Ceylon Ltd., has recorded a pre-tax profit (before the special Value Added Tax on Profit) of Rs 1.6 billion for the nine months ended …

Donor Threat

The countrys top multilateral donors warned that economic and political stability are key to get aid following.Sri Lankas top multilateral and bilateral donors …

Coming Back

A cultural similarity in the insurance market was a big draw when Life Insurance Corporation of India re-entered the local market.The companys earlier …

Desert Run

Air Sahara will begin charter flights to Colombo from New Delhi on Friday, becoming the first domestic carrier to fly out of India.This follows a recent …

One Down

Hatton National Bank, had its long-term national rating, down graded to SL A- by Fitch Ratings Lanka on Thursday.This decision comes after HNB was put on a …