Biz Briefs  

ComBank rated strongest by Fitch

The national long-term rating of Commercial Bank of Ceylon PLC has been affirmed at 'AA(lka); Stable Outlook' by Fitch Ratings Lanka (FRL).

Commercial Bank's Basel II compliant outstanding subordinated debentures have been affirmed by Fitch at 'AA-(lka)'.

In a recent report, the agency said, "Fitch considers Commercial Bank as the strongest bank in this peer group. Its rating captures its more measured risk appetite, solid franchise, sound track record and strong funding profile. The bank's provision coverage has been improving and asset quality has remained satisfactory. The ratings reflect our expectation that its operations in Bangladesh will remain small."

IBSL hosts Asian Insurance Regulators' forum

The Insurance Board of Sri Lanka (IBSL) will host the 10th annual two-day conference of the Asian Forum of Insurance Regulators (AFIR) tomorrow, July 27, on the theme 'Changing Landscape in Insurance Regulation' at The Kingsbury, Colombo.

The event will cover informative sessions on IAIS' (International Association of Insurance Supervisors) role in promoting Insurance Capital Standards (ICS), sharing experience on new capital regimes, an ADB high-level round table on self-assessment and peer review of Insurance Core Principles (ICPs).

CCC seminar on 'Transfer Pricing Regulation'

The Ceylon Chamber of Commerce (CCC) will conduct a seminar on Wednesday, July 29 at its auditorium to create awareness on the 'Transfer pricing regulation and compliance' that was introduced in 2013.

The seminar, targeted at CEOs, CFOs, Finance Managers and interested parties, will provide a deeper understanding of transfer pricing, documents to be maintained, pricing issues and managing them.

An expert panel has been invited by the Chamber to discuss areas such as 'Legal provisions relating to transfer pricing' and 'How to comply with the regulations'.

NCCSL seminar on the construction industry

The National Chamber of Commerce of Sri Lanka (NCCSL) will hold a half-day seminar on 'Construction Industry and. the way forward' on Wednesday July 29, from 3-5 p.m at the Chamber Auditorium, D R Wijewardene Mawatha, Colombo10.

The seminar will cover industry overview, Construction Industry Development Act and Role of the Construction Industry Development Authority by experts including Director General, Construction Industry Development Authority (CIDA), Archt. H. K. Balachandra.