An Echelon Media Company
Friday May 7th, 2021

Sri Lanka all-in-one Transit Card on track: LankaClear

The card could be used at ATMs, POS machines bus and rail

3 minutes

Sri Lanka residents who earn abroad allowed to maintain foreign bank accounts

Sri Lanka residents who have worked abroad, and individuals or firms providing services to foreigners can now open accounts in foreign banks

5 min read

Sri Lanka to set up state-run Youth Start up fund, loan guarantee fund: Namal

Sri Lanka will set up a state-run Youth Startup Fund and a Guarantee Fund to help young entrepreneurs get capital, Minister of Youth Affairs NamalRaja...

2 min read

Sri Lanka raises finance company forex borrowing ceiling

Sri Lanka's central bank said it is raising the foreign borrowing limit of licensed finance companies (LFCs) to 20 to percent of assets from 10 percen...

3 min read

Sri Lanka extends bar on banks buying sovereign bonds till April 23

Sri Lanka has extended a ban on commercial banks and the National Savings Bank buying sovereign bonds till April 23.

Sri Lanka's Standard Chartered Bank 'AAA(lka)' rating confirmed: Fitch

Fitch Ratings has confirmed a 'AAA(lka)' rating of Sri Lanka's Standard Chartered Bank branch amid a rise in bad loans but strong capitalization and s...

Sri Lanka credit card debt down, new card issues picking up

Sri Lanka's credit card debt has fallen sharply since a Coronavirus pandemic hit the country in March 2020, but new card...

2 min read

Sri Lanka Port City Economic Zone to have offshore banking, stock exchanges

Sri Lanka's Colombo Port City Special Economic Zone will have offshore banks for which regulations will be made by the P...

3 min read

Sri Lanka's Bank of Ceylon net down, strong loan growth in Dec

Profits at Sri Lanka's state-run Bank of Ceylon group fell 34 percent to 6.3 billion rupees in the December 2020 quarter...

3 min read

Sri Lanka halts banks from buying sovereign bonds till April 09

Sri Lanka has extended a ban on domestic bank purchases of international sovereign bonds till April 09, 2021, in a bid t...

2 min read

Sri Lanka failed finance company depositors to Rs9.8bn extra after insurance increased

Depositors of failed Sri Lanka finance companies will get 9.8 billion rupee more with the ceiling on deposits qualified ...

2 min read

1

Sri Lanka Savings Bank '[SL] BBB-' rating confirmed by ICRA

ECONOMYNEXT - State-run Sri Lanka' Savings Bank's '[SL] BBB-' domestic rating has been confirmed by ICRA Lanka, a rating...

7 min read

Sri Lanka to appoint foreclosure ombudsman, change mortgage laws: PM

Sri Lanka's Prime Minister Mahinda Rajapaksa has ordered that an ombudsman be appointed to review sales of assets given ...

2 min read

Sri Lanka extends debt moratorium on passenger transport vehicles

Sri Lanka has extended a moratorium on buses, school vans and three wheeler for a further six months from April 01, on r...

4 min read

2

Sri Lanka finance companies loan growth to slow, bad loans to rise

Sri Lanka's finance and leasing companies are likely to see weak loan growth and high bad loans amid a Coronavirus pande...

4 min read

Sri Lanka Coronavirus vaccines financed by HSBC-People's Bank trade loan

HSBC Sri Lanka said it had provided a trade loan to state-run People's Bank to import 500,000 Coronavirus vaccines to th...

1 min read

Morning Briefing Gain clarity on the biggest stories of the day with our daily newsletter, Morning Briefing
Latest Last
US Dollar 199.5155 199.5887
UK Pound 277.4163 277.5680
Euro 240.7055 239.7459
Aus Dollar 155.2131 154.6214
Yen 1.8282 1.8259
Source: Central Bank/Indicative
Latest Last
Indian Rupee 2.7107 2.7040
Korea Won 0.1781 0.1775
Oman Rial 518.2355 518.4257
Saudi Riyal 53.1885 53.2194
UAE Dirham 54.3173 54.3372
Source: Central Bank/Indicative
pts %
S&P SL20 2,838.96 0.22%
CSE All Share 7,188.09 0.59%
Turnover Rs million. 1,248,630
Source: CSE
Latest Last
3-m bill 5.04 5.03
6-m bill 5.09 5.09
12-m bill 5.15 5.15
5-yr bond 7.12 7.08
8-yr bond 7.71 7.70
Source: Central Bank/Indicative
today yesterday
Overnight Money 4.65 4.65
Gilt Repo 4.68 4.67
I-m SLIBOR - -
Source: Central Bank/Indicative

Sri Lanka's Peoples Bank gives credit relief to 480,000 customers, new credit

Sri Lanka's state-run People's Bank group said it had given relief to 480,000 customers amid a Coronavirus pandemic and ...

3 min read

Sri Lanka's Union Bank net down amid higher provisions

Profits at Sri Lanka's Union Bank fell 75 percent to 48 million rupees as net interest income fell and higher loan loss...

2 min read

Norfund to invest in Sri Lanka's National Development Bank

Sri Lanka's National Development Bank said Norway-based development lender Norfund will invest up to 9.9 percent by taki...

1 min read

Sri Lanka state banks see 'unsustainable' growth, high SOE finance: Fitch

Sri Lanka's state banks have seen high balance sheet growth with large exposures to state and state enterprises amid sov...

3 min read

HSBC Sri Lanka sees surge in digital transactions amid Coronavirus

HSBC Sri Lanka said there was a 117 percent growth in fund transfers over its digital platforms and 75 percent of custom...

2 min read

Opposition complains to regulator, People's Bank chief says followed procedure

The main opposition Samagi Jana Balavegaya (SJB) has lodged a complaint against the head of People’s Bank for granting...

2 min read

1

Sri Lanka SOE, govt credit surge in Jan 2021, private down

Sri Lanka's credit to government and state enterprises surged in January 2021 but private credit fell, official data sho...

2 min read

Sri Lanka's Seylan Bank net down 28-pct in Dec quarter

Profits at Sri Lanka's Seylan Bank group fell 28 percent from a year ago to 841 million rupees in the December 2020 quar...

2 min read

Sri Lanka's NTB net down 19-pct in Dec 20 quarter

Profits at Sri Lanka's Nations Trust Bank fell 19 percent from a year ago to 946 million rupees in the December 2020 qu...

2 min read

China's AIIB clears US$180mn Covid-19 credit for SMEs: Sri Lanka embassy

China's Asian Infrastructure Investment Bank (AIIB) has cleared a 180 million dollar credit for Coronavirus hit small an...

1 min read

1 2 3 101