An Echelon Media Company
Wednesday December 8th, 2021
Economy

Sri Lanka discusses energy security, jobs, investment with UAE

Sri Lanka has been trying to woo investments and secure oil credit from many Middle Eastern countries.

9 min read

Sri Lanka approves US$2bn in projects up to Nov, FDI US$400mn to June: BOI

Out of that the foreign investment component was 1.6 billion US dollars

9 min read

Sri Lanka debt re-structuring: opinion divided among think tanks

Agreement that an outright default is damaging

9 min read

Sri Lanka should draw up own program and negotiate with IMF: de Mel

Sri Lanka needs a credible plan to get out

9 min read

Sri Lanka Port City to allow crypto currency trading, no rupee tokens

There are a few checks and balances in this plan

Sri Lanka gas explosion probe says blame lies largely with faulty accessories

The committee urged the public to refrain from testing for gas leaks using unsafe methods.

Sri Lanka’s biz leaders bemoan forex shortages amid money printing

The dollar shortage is obviously having an effect on the businesses

3 min read

Sri Lanka monetary instability blamed on lack of industrialization

That money printing causes inflation is no longer 'fashionable'.

5 min read

Sri Lanka does not need to go on bended knees to outside agency over debt: Cabraal

Debt being re-structured through mutliple means

2 min read

Sri Lanka needs IMF, debt restructuring, CB should not subordinate core objective: Coomaraswamy

The central bank's role as the agency for public debt should not be subordinated to its core objectives

1 min read

Sri Lanka may raise rates 150bp in 2022, external caution: SCB Economist

External weakness, deficits weigh

2 min read

Sri Lanka central bank foreign debt exceeds reserves by US$1.2bn

The central bank owes the IMF on past loans and also a negative SDR allocation

2 min read

Sri Lanka rupee already depreciated, no bidding war with Hawala: CB Governor

We do not want to get into an auction sale with Hawala people

3 min read

Sri Lanka unleashes money laundering unit, police, on unofficial remittances

Last mile Hawala deliveries to be tracked if made through the banking system

2 min read

Sri Lanka makes progress on credit lines, swap from India during Finance Minister visit

Modalities to realize these objectives would be finalized early, within a mutually agreed timeline

2 min read

Sri Lanka CB starts outright bill sales sans spot rupee market

Reverse repo operations continue to climb

2 min read

Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 201.5945 200.0100
UK Pound 267.1631 265.4633
Euro 227.5296 225.7213
Aus Dollar 143.8175 140.8970
Yen 1.7758 1.7618
Source: Central Bank/Indicative
Latest Last
Indian Rupee 2.6742 2.6528
Korea Won 0.1715 0.1693
Oman Rial 523.6153 519.4997
Saudi Riyal 53.7385 53.3161
UAE Dirham 54.8840 54.4526
Source: Central Bank/Indicative
pts %
S&P SL20 3,964.42 0.44%
CSE All Share 11,088.17 0.49%
Turnover Rs million. 2,191,558,044.10 6,019,817,831
Source: CSE
Latest Last
3-m bill 7.33 7.56
6-m bill 7.77 7.91
12-m bill 8.15 8.25
5-yr bond 10.61 10.56
8-yr bond 11.27 11.21
Source: Central Bank/Indicative
today yesterday
Overnight Money 5.93 5.99
Gilt Repo 5.14 5.14
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka gets 7 responses to securitize remittance surrenders

These responses are being reviewed to determine the most suited modality

2 min read

More Sri Lankans switch to Hawala as money printing drive parallel exchange rates

I don’t mind losing 2-3 rupees by sending my salary in dirham to support the country. But the gap is 10-11 rupees.

Shihar Aneez

8 min read

China embassy takes swipe at Sri Lanka over halting power projects near India

There is already in a diplomatic spat over a rejected Chinese fertilizer shipment

2 min read

Sri Lanka borders open in peak tourist season amid forex crisis, but caution advised

During these lockdowns, many people complained that they do not have a away to live

Chanka Jayasinghe

4 min read

Sri Lanka to freeze bank accounts linked to informal remittance amid forex crisis

Rs 10 rupee extra given by CB in December in official multiple exchange rate

1 min read

Sri Lanka's Board of Investment hit by multiple resignations

Resignations came shortly after a recent COPE hearing

3 min read

Sri Lanka Finance Minister, CB Governor to open Economic Summit

Sessions on seven areas

1 min read

Sri Lanka Finance Minister in economic co-oporation talks with India amid forex crisis

Sri Lanka has sought a credit line and a swap from India

1 min read

Sri Lanka central bank to pay Rs10 extra per dollar for worker remittances

Only 2 rupees extra were paid earlier

1 min read

Sri Lanka puts glyphosate back on banned list

Under new import control laws issued on Nov 30

1 min read

1 2 3 232