Biz Briefs

ComBank open on Ramazan day

Commercial Bank will keep its branches open for business on Ramazan Day, a bank release said.

This includes the bank's 28 supermarket banking centres and 20, '365-day' branches which will work its customary hours and another 17 branches that will be open from 9 am to 1 pm on that day, Bank sources said.

The only Sri Lankan Bank to be ranked among the world's top 1,000 banks for four successive years, Commercial Bank operates a network of 237 computer-linked service points and a network of 597 ATM terminals.

NDBIB wins award

NDB Investment Bank was adjudged the 'Best Investment Bank in Sri Lanka 2014' again by Euromoney Awards for Excellence, at the Island Shangri-La in Hong Kong recently.NDBIB won the award for the third consecutive year in recognition of its leading position in debt and equity fund raising and corporate finance transactions in the country.

"Last year NDBIB raised Rs. 42 billion concluding its most successful year to date. The company has extended its leadership in the debt capital market as the main debt house with over 40% share in listed corporate debentures in terms of number of issues and total funds raised in a fragmented market of over 10 players," a bank spokesman said.

BoC launches Rupee currency Options

The Bank of Ceylon (BoC) last week launched its first structured derivative product, the Sri Lankan Rupee Currency Options.

The custom-made structured derivative solution was developed in-house by the Treasury Division of the Bank, for one it's long standing corporate clients Sierra Cables PLC, coinciding with the 75th anniversary celebrations of the Bank.

Derivative instruments are relatively new to the Sri Lankan market though they are popular financial instruments in other parts of the world. It is designed primarily to hedge foreign exchange risk, interest rate risk and commodity price risk.

- Courtesy PRIU

Belarus marks Independence Day

The Independence Day of the Republic of Belarus was celebrated recently. Belarus and Sri Lanka could forge closer links with increased trade.

The strategic areas of economic development for Belarus are based on two key economic principles - improving the business environment and investment. The enterprises are keen on exploring business opportunities in Sri Lanka in sectors such as automotives, dairy farming and agriculture.

- SJ

CCC publishes legislative enactments index

The Ceylon Chamber of Commerce (CCC) has published an index, which comprises all legislative enactments within Sri Lanka's jurisdiction.

The index titled 'An Index to the Legislative Enactments of Sri Lanka', has incorporated Acts and Amendments enacted to the Laws of Sri Lanka, up to June, 2014.

The Index is arranged in alphabetical order by title and subject giving reference to the volume, chapter, Act, law number, pagination and the year issued.