Banking and Finance

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 …

Hot Air

Tourism officials played down government claims of 2000 tourists cancelling bookings, after political chaos and reports of beefed up security.ldblquote So far …

Report Card

Effective steps to create a tax compliance culture, focus revenue generation measures where there is a capacity to pay and to target relief measures where they …

Long Life

Union Assurance Ltd has reported an upsurge in net profits, largely aided by its booming investment portfolio.For the nine months ending September 2003, the …

Zipped Up

The Commercial Bank of Ceylon has pumped in Rs. 100 mn to upgraded its IT infrastructure and processes, with one of the latest retail banking solutions in the …

Governors Call

Central Bank Governor called for the adoption of International Accounting Standards in the countrys bid to become a financial center for the region.While local …

Guaranteed Standard

Insurance regulator with the national accounting body is trying to put forward a recommended accounting practice for the insurance industry.The Recommended …

Safe House

The Employees Trust Fund on Wednesday signed on with Seylan Bank to offer low cost housing loans to its 2.2 mn members.The state provident fund has lent Rs. …

Interest Push

Policy makers could slap on a windfall tax on commercial banks if they dont narrow their interest rate spread within six weeks. Prof. G.L Peiris told reporters …

Faster Connection

LankaClear, the cheque clearing arm of the Central Bank, plans to set up ten regional centres to speed up payments and settlement systems.Known as lquote …

Cherry Picking

A Compensation Fund for contributors who suffer financial loss resulting from fraud, theft, misappropriation or negligence of monies, will also be set up, from …

Capital Call

Pan Asia Banks shareholders have come through and injected Rs. 100 mn into the bank to top up its capital.The bank called up the balance two rupees due from …

Shadow Boxing

According to the draft new law, the authority will have wide ranging powers to audit, investigate and inspect tax files.rnrnThe proposed Sri Lanka Revenue …

Black Mark.

Naming these institutions is part of the banks efforts to warn depositors not to part with their funds in un-regulated institutions.rnrnEarlier in 2003 the …

Looking Healthy

Fitch Ratings Lanka re-confirmed its SLAA+ national rating on John Keells Holdings Ltd. senior debt following the conglomerates recent acquisition spree.SL AA+ …

Go For Rating

Central Bank Deputy Governor W. A. Wijewardene told LBR that the credit rating would be in place early next year with bank funding for the whole …

Out Of CRIB

The local credit information agency is trying to add value to its services with donor help.Credit Information Bureau says that World Bank help is on offer to …

Information Hunt

Peoples Bank restructuring committee has hired consultants PricewaterhouseCoopers to draw up an information memorandum for the bank.The consultants will put …

Security Check

The Securities and Exchange Commission of Sri Lanka (SEC) will join 170 other international securities commission to combat cross border securities fraud. An …