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Sri Lankan banks have already started raising money through rights issues and convertible debt to stay in line with the BASEL III capital requirements.
Hence, the new development might prompt the banks to ramp up their capital raising efforts to satisfy both the BASEL III as well as the regulator.
However BASEL III capital and regulatory minimum capital are not mutually exclusive as each requires continuously higher capital.
“So, through this, I believe what the Central Bank is trying to do is to make the banks well prepared for higher capital adequacy requirements under BASEL III”, a banking industry official said.
In any case, the question remains if the banking sector investors are willing to pump in capital continuously with meagre returns and a lot of this capital will also stay idle without being able to generate an income.
BASEL III and minimum regulatory capital make banks stronger by way of creating higher capital buffers in case of economic shocks such as the global financial crisis in 2007, where the world’s top lenders had to be bailed out by tax payer money.
On that basis, Bavarian Motors sought for injunctions restraining the BMW Germany from interfering the Bavarian Motors’ use of BMW identification logos, marks and slogan and also sought for a declaration of non-infringement.
The matter is fixed for BMW Germany’s answer on 12th January 2018.
Padukone was in Sri Lanka from 05th October to 07th October, with her 12-member Filmfare crew to do the cover shoot and also get a glimpse of Sri Lanka during her short stay. The team stayed at the iconic Cape Weligama resort.
Sri Lanka is reputed for its locations and has contributed for many successful Indian and Hollywood movies such as Water, Bombay Velvet, Bridge on the River Kwai and Indiana Jones.
Sri Lanka has the potential of attracting Indian tourists since both nations share the same traditions, cultures and historical landmarks from the ancient times.
The two countries are well connected with over 126 flights per week between a number of Indian cities and Colombo. From 29th October 2017, it will be increased to 150 flights.
Tourist arrivals from India during the first eight months of the year rose 3.6 percent year-on-year to 233, 120.
John Flint, no relation to outgoing chairman Douglas Flint, joined HSBC in 1989 and has worked in both the investment banking and retail banking sides of the bank, spending 14 years in Asia at the start of his HSBC career.
The environmental lobbyists and transport sector specialists have for years raised serious concerns about the possible adverse environmental impact from the US $ 1.4 billion Port City project and of the likely additional congestion in Colombo once the project becomes fully operational.
An Environmental Impact Assessment (EIA) is currently underway for the Marine Drive extension project to ascertain the possible negative impact on the environment.
The project sponsors have decided to preserve the aesthetic beauty of the Galle Face Hotel and also to ensure that the project does not spoil the fascinating view of the Galle Face Green.
Meanwhile, in a separate development, another feasibility study is currently being carried out to construct a Light Rail Transit (LRT) system between Colombo Port and Katunayake. The study is due to be completed this week.
Sri Lanka’s coalition regime banks on PPPS to develop the country’s physical infrastructure, a clear shift from the former regime’s debt-funded, state-led development model, which proved highly unsustainable.
However, the current regime is also accused of selling the country’s national assets to foreigners with geo political interests for a song, a development vehemently opposed by the majority.