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Thursday December 2nd, 2021

Sri Lanka President warns of unpopular measures as stimulus hits external stability

Sri Lanka is among countries in the world that has handled the Coronavirus better than most

5 min read

MAS, Akbar Brothers win top Sri Lanka export awards

Awards for last year also given

5 min read

Sri Lanka CB chief sees negative fallouts from IMF deal

Sharply higher rates and a currency fall

5 min read

Sri Lanka central bank blames usual suspects for inflation after printing money

Food prices have been surging amid trade restrictions

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

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

Import controls keep domestic prices high

Sri Lanka can take high road with cannabis instead of IMF to solve debt crisis: legislator

We do not have to beg and bend in two (hingar kun-ner, dekerter namen-ner) before the IMF or other creditors

2 min read

Sri Lanka cabinet discussed going for IMF bailout at length: spokesman

"There was an in depth discussion on the pros and cons of going to the IMF, but no decision was taken," he said.

1 min read

Sri Lanka closes oil refinery amid money printing, forex shortages

We made this decision to manage limited foreign exchange to import essential foods

4 min read

Sri Lanka public service made a burden by politicians: Opposition leader

Extending retirement age will compound the problem

2 min read

Sri Lanka imports still strong in September, BOP deficit US$2.5bn

Remittance fall amid a credibility loss of a peg at 203

2 min read

Sri Lanka state enterprises a burden on economy: Finance Minister

Most of these institutions do not provide returns on the investments made by the government

2 min read

Sri Lanka's NDB net up 24-pct in September quarter before windfall tax

Net Profits at Sri Lanka’s NDB Bank grew 24 percent to 1.8 billion rupees in the September 2021

2 min read

Sri Lanka recalls control-era NM Perera in budget 2022 amid new rubber import control

'Our leaders and financial sector experts have failed to bring a long term programme to manage our foreign reserves'

5 min read

Sri Lanka's Ceylon Chamber says lifting price controls good, but warns against cascading tax

Looking to engage with goverment

5 min read

Sri Lanka budget 2022: 9.8-pct of GDP deficit to be funded locally, repeats windfall taxes

Windfall taxes are now being shown to be a habit. Super Gains Tax returns as 25-pct surcharge

5 min read

Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
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 CB says no forcible conversion of worker remittances in securitization

Remittance surrenders are from voluntary conversions

2 min read

Sri Lanka Finance Minister unaware of items in Special GST hatched in secret

Officials have not even told me all the items since I may accidentally disclose them

2 min read

Sri Lanka public sector ‘unbearable burden’: Finance Minister

Unemployed graduates agitate lifetime jobs and pensions to take taxes home

2 min read

Sri Lanka seeks investment bank to securitize remittance surrenders

The Securitised Financing Arrangement could be in USD, Euro, Renminbi, Yen, or in a Gulf Cooperation Council currency

4 min read

Sri Lanka budget 2022: 700 vehicles seized by Customs to be released

Many are rotting away

1 min read

Sri Lanka targets big firms, spectrum auctions to shore up post-Covid finances

Plans to reduce deficit from 11.1-pct of GDP to 8.8-pct

5 min read

Sri Lanka budget 2022: key tax changes

Sri Lanka's budget for 2022 has proposed new taxes

3 min read

Sri Lanka budget 2022: railway land for private development

Lands owned by Department of Railways are currently not being utilized productively.

1 min read

Sri Lanka budget 2022: new law on export dollar conversion

The central bank has said earlier exporters who do not convert will be charged a higher tax

1 min read

Sri Lanka budget 2022: taxes on vehicle getting into accidents

There are many accidents and this will discourage them

1 min read