An Echelon Media Company
Wednesday December 1st, 2021
Economy

Sri Lanka bought Sinopharm at US$7: State Minister

President Rajapaksa wrote personally to the Chairman of Sinopharm

5 min read

Sri Lanka considers medical cannabis export amid worst ever forex crisis

The MP said the government plans to seek parliamentary approval in the next three months.

5 min read

Sri Lanka inflation hits 12-year high in Nov 2021 amid money printing

Food prices have risen 34-pct since the current bout of inflationary policy began

5 min read

Sri Lanka to import rice from Myanmar for US$460 a tonne

Import controls keep domestic prices high

5 min read

Sri Lanka lifts ban on synthetic fertilizers from Nov 30

New gazette issued repealing May 06 ban

Fed to end injections sooner, ‘retire’ transitory, Powell says as inflation rages in Sri Lanka

I think it is a good time to retire that word (transitory) and explain more clearly what we mean

Sri Lanka targets US$3.5bn forex reserves by end 2021

There will be no default: CB Governor says

2 min read

Germany urges Sri Lanka to end import controls

These import restrictions are neither fair nor free

5 min read

Sri Lanka opens Japan-funded 'Golden Gate Kalyani' bridge

The total cost for the project is 55,000 million rupees, according to the president’s media division (PMD).

Chanka Jayasinghe

2 min read

Sri Lanka to crack down on Hawala remittances

We have been collecting information on these activities

1 min read

IMF mission in Sri Lanka for Article IV discussions, no program request

The Article IV team will be in Sri Lanka from December 7 to 20.

1 min read

Sri Lanka keeps rates at 6.0-pct amid high inflation, forex trouble

Inflation is transitory

6 min read

Sri Lanka ends fertilizer ban, private sector imports allowed

Chemical fertilizer can be taken from the open market

1 min read

Effective tax on Sri Lanka banks could go up to 70-pct with new 'super gains' tax

In the budget for 2022 proposed a windfall tax on 25 percent for large companies

2 min read

Sri Lanka energy minister calls for fuel pricing formula if stabilisation fund is no go

He said the stabilisation fund that was originally proposed by him on March 15 has yet to receive cabinet approval.

2 min read

Sri Lanka national inflation surges to a 4-year high after money printing

Since inflationary policy began from around August 2019, the food index had risen 28.5-pct

2 min read

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Latest Last
US Dollar 202.0474 202.0474
UK Pound 268.7331 269.2383
Euro 228.7177 228.3338
Aus Dollar 144.3831 144.4841
Yen 1.7815 1.7776
Source: Central Bank/Indicative
Latest Last
Indian Rupee 2.6936 2.6920
Korea Won 0.1711 0.1702
Oman Rial 524.7916 524.7916
Saudi Riyal 53.8563 53.8592
UAE Dirham 55.0073 55.0073
Source: Central Bank/Indicative
pts %
S&P SL20 3,900.02 1.84%
CSE All Share 11,440.53 2.13%
Turnover Rs million. 2,191,558,044.10 10,054,526,815
Source: CSE
Latest Last
3-m bill 7.56 7.63
6-m bill 7.91 7.88
12-m bill 8.25 8.16
5-yr bond 10.56 10.58
8-yr bond 11.21 11.20
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 parliament passes 2022 budget with 153 votes

The budget is first by Finance Minister Basil Rajapaksa

1 min read

Sri Lanka's nattami porters go on strike, demand higher compensation

"Even a cup of plain (black) tea costs about 20-25 rupees," one nattami said.

Chanka Jayasinghe

1 min read

Sri Lanka minister says cars with one passenger should be banned after printing money

A law should be brought that a minimum of three to four passengers should be in the car

2 min read

Sri Lanka opposition graphically warns on commode effect on controlled economy

"There are no commodes to go to toilet (Lat ekerter yun-ner lat porch-chiya nae)"

3 min read

Sri Lanka central bank appoints four assistant governors

Appointments are effective from November 17

7 min read

Vietnam's Vinfast unveils electric vehicles, expects to ship from 2022

Vinfast unveiled a crossover and SUV, VFe35 and VFe36

1 min read

Sri Lanka exports hit October record as money printing drive forex shortages

Exports up 21-pct up to October

3 min read

Sri Lanka manufacturing recovers strongly in October : PMI

Manufacturers stock up in anticipation of new orders while others due supply-side woes

2 min read

Sri Lanka's CPC debt 4.2-pct of GDP by July 2021, loses Rs61.8bn

Part of losses comes from dollars borrowed after money printing

2 min read

Sri Lanka's Sarvodaya building supply chain for rural products

SDF to develop a business portal

4 min read