Following a detailed selection process, HSBC selected Sri Lankan e-business integrator Affno as their long-term web development company, says a news release.

Sarath Piyaratna, DCEO, HSBC Sri Lanka, said that the bank is confident that Affno can help HSBC to build innovative internet solutions tailored for Sri Lanka by integrating them effectively with the global internet tools that HSBC Group has invested in.

Suren Kannangara, Affno’s CEO said that his company was happy to be associated with HSBC in building software tools for banking and about the prospects that lay ahead through this new appointment.

Secondary market yields decline

The shorter week due to the December 5 election continued the previous week’s falling interst rates in the government’s securities market. The weighted average yield rate (WAYR) in the secondary market for government securities for all the maturities declined considerably compared to previous week’s level.

The two year treasury (T) bond WAYR declined by 51 basis points, whereas T-bill rates for all the maturities continued its declining trend to fall by 35, 24 and 29 basis points for 91 day, 182 day and 364 day T-bills respectively in the secondary market. Outright transactions by primary dealers amounted to Rs. 2,356 million, while repurchase transactions amounted to Rs. 17,764 million. (Central Bank press release)