Banking and Finance

New Leaf

Sri Lanka Export Credit Insurance Corp (SLECIC) is tinkering with its Act to allow it to raise public funds and offer refinance facilities.Cabinet has already …

Forging Ties

Janashakthi Insurance has sought regulatory approval to complete its merger with National Insurance Corp.Once the Insurance Board of Sri Lanka approves the …

Question Mark

The Carsons and JKH Groups recent acquisition of Aitken Spence shares in Union Assurance Ltd has got the securities watchdogs attention.The Securities & …

Rural Rumble

A team of consultants has recommended tough reforms, a more focused regulatory regime and the winding up of co-operative banks with a negative net worth to …

Clean Break

Conglomerate Aitken Spence Ltd on Tuesday disposed its equity stake in Union Assurance Ltd.The sale comes after Aitken Spence bought into Sri Lanka Insurance …

Looking Pretty

National Development Bank said its first quarter profits rose 58% to Rs. 225.9 mn due prevailing low interest rates and capital gains.Interest expense during …

Bodybuilding

Laws to give banks and finance companies more muscle to tackle bad debts have got regulatory approval and are before the Legal Draftsmen.Under the Amendments …

New Alliance

A new entrant to the primary market in Government securities wants to make investments in Government debt more attractive to retail investors.Capital Alliance, …

Listed Homes

State housing finance giant HDFC, has sought a quotation on the Colombo Stock Exchange by way of an introduction.The Attorney Generals Dept. has recommended …

Smooth Talk

DFCC Bank plans to start due diligence work on MERC Bank next week and hope to finalise the transaction within two-months, a top official said Wednesday.DFCC …

On Tow

Sampath said its was infusing Rs. 600 mn to Rs. 700 mn to bail out the troubled Union Bank. online pharmacy buy spiriva inhaler with best prices today in the …

Active Partners

The Asian Development Bank (ADB) on Monday approved a Technical Assistance grant of US$ 500,000 to prepare country driven private sector development strategies …

Picking Up

Seylan Banks Group profits have shot up more than 50 percent, for the period ending March 31, 2002.rnrnrnrnrnrnNew Page 1rnrnrnrnrn rnFirst quarter Group …

Eagle Eye

Commercial Bank and DFCC plan to put in a strong bid for a majority stake in Eagle Insurance after losing a battle to get control of SLIC.Zurich Financial …

Tourist Guide

The tourism sector is high on the list of investment possibilities of a visiting International Finance Corporation team. IFC is the private sector investment …

Building Blocks

The International Finance Corp. (IFC) is looking at further investments in Sri Lankas housing market, as part of its future investment …

Safe Hands

The DFCC-Commercial Bank consortium plan to hold their stakes in Eagle Insurance through a holding company, in the event their bid succeeds.Both banks put a …

Interim Job

The government has restarted the derailed pension reforms programme, by appointing Channa de Silva to set up the unit for an interim period.De Silvas mandate …

Strong Growth

Commercial Bank of Ceylon Ltd., Sri Lankas largest privately listed bank, says its business volumes have grown by nearly 30 percent during the first quarter of …

Rating Lanka

Capitalising on the ongoing peace dividends, the government is once again talking of seeking a sovereign rating for Sri Lanka, with plans to issue the mandate …