An Echelon Media Company
Wednesday June 29th, 2022
Economy

Foreign banks refuse to confirm Sri Lanka state bank letters of credit: Minister

Oil suppliers wary to supply Sri Lanka after recent downgrades

June 27, 2022 3 min read
2

Sri Lanka bus operators want tariff hike to account for central bank actions

Sri Lanka unable to import fuel due to broken soft-peg

June 26, 2022 2 min read
2

Sri Lanka removes ban on open account food imports

10 key foods including rice, lentils and potatoes allowed to come freely

June 26, 2022 3 min read
2

Sri Lanka prohibits use of paddy, rice in animal feed

The directive came into effect as of Friday June 24.

June 25, 2022 1 min read
2
Sri Lanka to order exporters, embassies, hotels to pay electricity bills in dollars

Companies with more than 60-pct dollar revenues will have to pay bills in dollars

Sri Lanka's private buses en route to grinding halt as fuel crisis deepens

“Even today fewer than 10 per cent of buses are running. Drivers are on strike because they have no fuel."

Australia offers Sri Lanka assistance in Customs Department restructure

O’Neil had also explained her administration's policy regarding maritime security and human smuggling, it said.

June 20, 2022 2 min read
1

Australia gives Sri Lanka US$50mn in food, medicine aid

Will support health services, with a strong emphasis on protecting those at risk, especially women and girls

June 20, 2022 1 min read

Sri Lanka Prime Minister meets IMF mission in bailout talks

Debt restructuring and tax hikes on the cards

June 20, 2022 3 min read

Sri Lanka protestors in human chain against President, PM as currency crisis bites

Protests beginning to gather pace as petrol, diesel shortages threaten to bring the country to a standstill

Dulya de Silva
June 19, 2022 6 min read

Sri Lanka CPC pays rupees to Treasury for Indian credit line

Losses absorbed by the Treasury

June 19, 2022 2 min read

Crisis-hit Sri Lanka's fuel shortage forces closure of schools, largest state university 

Fuel crisis hits education institutions.

June 19, 2022 1 min read

Sri Lanka's inflated car prices plunge as interest rates rise

Vehicles advertised on-line were quoted at about a million rupees less than a month ago

June 18, 2022 2 min read
1

IMF team in Sri Lanka from June 20-30; reaffirms support within its policies

IMF team visits following the visit of debt restructuring advisors.

June 18, 2022 1 min read

Sri Lanka sees more boat people events as economic crisis worsens

Police sources said most of the illegal Sri Lankan migrants are aiming to make it to Australia.

June 17, 2022 4 min read
1

Sri Lanka stocks down in mid-day trade

All Share Price Index was down 135.63 points to 7,569.64 at 1142 hours.

June 17, 2022 1 min read
Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 367.2255 367.4039
UK Pound 452.1949 452.7893
Euro 389.8785 389.4918
Aus Dollar 256.3767 256.4772
Yen 2.7277 2.7394
Source: Central Bank/Indicative
Latest Last
Indian Rupee 4.5882 4.6034
Korea Won 0.2797 0.2807
Oman Rial 934.7931 935.8320
Saudi Riyal 95.8864 95.9981
UAE Dirham 97.9826 98.0915
Source: Central Bank/Indicative
pts %
S&P SL20 2,336.44 -1.88%
CSE All Share 7,451.91 -1.87%
Turnover Rs million 815,332,807 1,423,365,059
Source: CSE
Latest Last
3-m bill 19.88 19.95
6-m bill 20.76 20.17
12-m bill 21.12 21.81
5-yr bond 19.79 19.87
8-yr bond 20.46 20.14
Source: Central Bank/Indicative
today yesterday
Overnight Money 14.50 14.50
Gilt Repo 14.50 14.50
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka economy grinding to a halt as monetary meltdown bites fuel imports

Passenger transport, goods transport hit

Chanka Jayasinghe
June 17, 2022 6 min read
1

Sri Lanka to import 50,000MT of rice under Indian credit line signed in March

The Indian credit line was signed in March for the purchase of food and medicines.

June 16, 2022 2 min read

Sri Lanka fuel queues claim two new deaths, taking total to 10

The country has been reporting commodity queue deaths since April 28.

Mahadiya Hamza
June 16, 2022 2 min read

Crisis management roadmap for MP input on the way, Sri Lanka PM tells key MPs

By Thursday (16) afternoon, transport has been all but crippled.

June 16, 2022 2 min read
1

Sri Lanka manufacturing PMI up in May, services continue down

Manufacturing recover from April holiday

June 16, 2022 2 min read

Fed hikes rates 75bp as Powell Bubble pushes up food prices hurting the poor

Blames Russia and Ukraine

June 16, 2022 2 min read

US' DFC lends USD120 mln for crisis-hit Sri Lanka's SME sector

Sri Lanka's MSME sector is hit hard by the ongoing economic crisis.

June 15, 2022 2 min read
1

Debt advisors in Sri Lanka, IMF team on June 20: PM

Hopes to raise more taxes

June 14, 2022 1 min read

Sri Lanka state workers to get 5-year no pay leave in soft-peg collapse

Public administration circular to be issued shortly

June 14, 2022 2 min read

Sri Lanka state offices shut on Fridays for home garden leave

Currency crisis has triggered forex shortages

Dulya de Silva
June 14, 2022 2 min read