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Tuesday February 27th, 2024
Economy

Sri Lanka king coconut output to crash 40-pct from white fly disease

Standard coconut palms less affected

January 3, 2023 2 min read

Sri Lanka in difficult situation, has to implement unpopular decisions: Treasury secy

Lack of financial discipline was the main reason

January 3, 2023 2 min read

Sri Lanka cuts diesel, kerosene prices

Super diesel and petrol 95 Octane remained at 510 rupees a litre, while 92 Octane remained at 370 rupees.

January 2, 2023 1 min read

Crisis-hit Sri Lanka sees record labour migration as rupee collapse, high inflation weigh 

Though number of Sri Lankans migrated more than doubled, remittances are still down significantly

January 2, 2023 2 min read
Sri Lanka firms should base costs on inflation expectations not US dollar: CB Governor

Firms should therefore not use the US dollar to base wages and costs but inflation expectations

Start or perish; Sri Lanka gives ultimatum for halted investments with state lands

Sri Lanka is fast tracking investments ahead of it starting external debt repayments after the ongoing restructuring

Sri Lanka prints Rs50bn more, excess liquidity tops Rs230bn

Sri Lanka has monetized 50 billion rupees of debt taking on excess liquidity in money markets 235 billion rupees in the ...

December 4, 2020 4 min read

Sri Lanka Export Development Board chief Subasinghe steps down

Chairman of Sri Lanka's Export Development Board Prabash Subasinghe, who gave leadership to the agency amid a Coronaviru...

Mahadiya Hamza
December 3, 2020 2 min read
1

Sri Lanka plans to list state-run hotels and land firm Selendiva in 2021: Treasury Secy

Sri Lanka is planning to list a state-run hotel and real estate company in the Colombo Stock Exchange by the end of the ...

December 3, 2020 1 min read

Sri Lanka private loans grow for third month in Oct 2020, CB credit surges

Sri Lanka's private credit grew by 59.2 billion rupees in October 2020, amid a resurgence of a Coronavirus crisis, lower...

December 2, 2020 1 min read

Sri Lanka Central Bank Governor W D Lakshman speaks at Chamber forum - full text

Governor of Sri Lanka's Central Bank W D Lakshman spoke at the Sri Lanka Economic Summit 2021 on December 01, 2020.

December 2, 2020 12 min read

Sri Lanka inks deal with ADB for US$400mn education loan

Sri Lanka has signed an agreement to receive a 400 million dollar Asian Development credit to develop education, the Ma...

December 2, 2020 2 min read
1

Sri Lanka extends exchange controls till mid 2021

Sri Lanka is extending an exchange control that barred companies and individuals from investing money for another six mo...

December 1, 2020 1 min read
2

Sri Lanka to cut foreign debt, ride Modern Monetary Theory: CB Governor

Sri Lanka will cut the share of foreign debt to 40 percent by 2021, raise more domestic debt and repay foreign debt, rid...

December 1, 2020 2 min read
7

Sri Lanka will boost FDI, repay debt, innovate ways to work amid Coroanvirus: President Rajapaksa

Sri Lanka will repay all debt falling due but will focus on getting foreign direct investments, while innovating ways to...

December 1, 2020 10 min read

Sri Lanka's inflation at 4.1-pct in November 2020

Sri Lanka's 12-month consumer inflation edged up to 4.1 percent in November 2020, from 4.0 a month earlier with the inde...

November 30, 2020 1 min read
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 315.8517 316.0679
UK Pound 401.4574 401.2833
Euro 343.4590 344.0649
Aus Dollar 209.1156 209.2045
Yen 2.1097 2.1124
Source: Central Bank/Indicative
Latest Last
Indian Rupee 3.6453 3.5932
Korea Won 0.2342 0.2292
Oman Rial 780.3569 769.4973
Saudi Riyal 80.1114 78.9849
UAE Dirham 81.7952 80.6569
Source: Central Bank/Indicative
pts %
S&P SL20 2,573.80 1.00%
CSE All Share 9,073.41 0.65%
Turnover Rs million 1,591,766,524.95 1,029,335,694.32
Source: CSE
Latest Last
3-m bill 21.72 21.79
6-m bill 19.55 20.31
12-m bill 17.72 19.28
5-yr bond 21.00 22.53
8-yr bond 19.42 20.55
Source: Central Bank/Indicative
today yesterday
Overnight Money 13.93 14.00
Gilt Repo 13.50 14.00
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka prints money to finance deficits, CB Credit tops Rs700billion

Sri Lanka has printed money in 2020 to finance the government as tax revenues fell and foreign financing dried up, offic...

November 30, 2020 9 min read
2

Sri Lanka expects China US$700mn loan in December 2020

Sri Lanka is expecting a 700 million dollar equivalent loan from China Development Bank in December 2020, the Finance Mi...

November 27, 2020 1 min read
8

Sri Lanka disputes Fitch sovereign downgrade to CCC

Sri Lanka has disputed a sovereign rating downgrade by Fitch Ratings to CCC, barely above default, expressing disappoint...

November 27, 2020 10 min read
3

Fitch downgrades Sri Lanka sovereign rating to 'CCC' after budget

Fitch Ratings has downgraded Sri Lanka's sovereign rating to 'CCC' from 'B-' after a budget for 2021 showed too steep re...

November 27, 2020 8 min read
1

European Union overreacting to Sri Lanka import controls: CB Governor

The European Union, which protested Sri Lanka's import controls, is over reacting the island's Central Bank Governor W D...

November 27, 2020 2 min read
1

Sri Lanka policy to target growth with inflation 'well-behaved': CB Governor

Sri Lanka will focus policy on boosting growth with inflation 'well-behaved' Central Bank Governor W D Lakshman said, af...

November 26, 2020 3 min read

Sri Lanka keeps policy rates unchanged in Nov 2020 amid liquidity injections

Sri Lanka is keeping policy rates unchanged in November 2020 the central bank said amid unprecedented liquidity injectio...

November 26, 2020 7 min read

Sri Lanka free trade agreements generate three times more exports than imports

Several free trade deals with Asia and Pacific has generated sharply more exports than imports in the first six months o...

November 25, 2020 5 min read
3

Sri Lanka 2021 revenues unlikely, bleaker fiscal outlook may hurt $4bn re-financing: Moody's

Sri Lanka is unlikely to get targeted revenues in 2021, with activity hit by import controls and a bleaker outlook for f...

November 23, 2020 3 min read

Sri Lanka publishes trade taxes for import substitution economy, new duty list

Sri Lanka has published a series of import duties and per unit cess taxes to limit competition from imports for domestic...

November 22, 2020 3 min read