Equity Market – FINANCE NEWS

Class of COVID-19: Next generation of bankers fear for future

2May

By AuthorNo Comments

Banking and Insurance, Equity Market, Finance and Leasing, Fintech, FX Market, International Business

Class of COVID-19: Next generation of bankers fear for future

(Reuters) : It wasn’t the introduction to high finance that Adi Patel had once anticipated. The stage fright of walking into the imposing offices of a $607 billion asset manager in the heart of a historic financial district? Pandemic era: a five-day induction on Microsoft Teams. The rip-roaring intensity of the trading floor replete with sharp-suited money managers? Not quite - hunched over a laptop with comfy clothes in a flat-share. Client lunches, and perhaps swapping stories after work with fellow graduates embarking on first steps in finance? Not likely. The pandemic has put paid to many initial expectations of the financial industry's Class of COVID-19. That group includes new recruits at finance firms around the world, such as 22-year-old graduate analyst Patel and two ...

Financial, industrial stocks raise Sri Lankan shares about 1% higher

(Reuters) - Sri Lankan shares ended nearly 1% higher on Wednesday, boosted by financial and industrial stocks. The benchmark stock index ended up 0.97% at 7,884.45. The index has now notched 15 sessions of gains out of 16 sessions. Trading volume on the CSE All Share Index fell to 287.96 million from 690.06 million in the previous session. The Equity market turnover was at Rs 9.37 billion, exchange data showed. Holding company Hayleys Plc and investment company Vallibel One Plc were the top boosts to the index, gaining 14.5% and 10.1%, respectively. However, foreign investors were net sellers, offloading Rs. 774.2 million ($3.97 million) worth of shares, according to exchange data. India’s foreign ministry on Tuesday announced that COVID-19 vaccine shipments to Sri Lanka...

Sri Lanka announces tax concessions for new listings at CSE

The government announced a proposal to grant 50 percent income tax relief for new listings at Colombo Stock Exchange (CSE). Delivering 2021 Budget speech Prime Minister & Finance Minister Mahinda Rajapaksa announced these plans which are aimed at boosting performances of CSE. In addition, these firms are to be only subjected to a 14% income tax rate for the next 3 years from 2021, as per the proposal.