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In a major indictment on the country’s macro stability and a wakeup call to policy makers, Fitch Ratings yesterday warned that Sri Lanka has now become one of the four highest-risk financial systems in Asia Pacific and nine in the world. The warning on and labelling of Sri Lanka comes ahead of Christmas and could ...
- Fitch says SL a high risk financial systems (Category: Breaking News)
- Fitch affirms DFCC Bank at ‘AA’; Outlook stable (Category: Business)
- Fitch affirms Citibank Colombo Branch at ‘AAA(lka)’ (Category: Business)
- Fitch Affirms People’s Merchant at ‘BB+’/Stable (Category: Business)
their personal views and criticizing the devaluation of the Sri Lankan Rupee. It is with the approval ...
- Khuram Shaikh murder suspects remanded further (Category: Breaking News)
- Bodhi Pooja to invoke blessings on Fonseka (Category: Breaking News)
- UNP leadership raises Sajith group’s absence at protest (Category: Breaking News)
- ‘Kusa Paba’ screening from Jan. 21 (Category: Breaking News)
The main opposition UNP yesterday charged that the devaluation of the Sri Lankan rupee at the recent Budget has resulted in the country’s public debt burden increasing by a further Rs. 81 billion, the UNP said yesterday.
The main opposition UNP yesterday charged that the devaluation of the Sri Lankan rupee at the recent Budget has resulted in the country’s public debt burden increasing by a further...
Colombo (Srilankamirror) - IMF resident representative Koshy Mathai has said the devaluation of the Sri Lankan rupee was a good step. The measure should support the nation's export competitiveness and safeguard its reserves over the medium-term, he has told Reuters via email. "
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Colombo (Srilankamirror) -The Ceylon Chamber of Commerce has supported the sudden devaluation of the Sri Lankan rupee saying it would boost exports. The CCC said in a statement the government's 2012 budget presented to parliament "maintains the consistent fiscal framework announced
- Ceylon Chamber urges consistent tax, investor policies (Category: Breaking News)
- Bangladesh Women’s National Team Tour of Sri Lanka 2023 (Category: Sports)
- Local business chambers tacitly endorse expropriation bill (Category: Breaking News)
- Sri Lankan born pioneer of location-tracking technology in King’s honours list (Category: Breaking News)
The Sri Lankan Rupee weakened to Rs.114.15 against the dollar in the currency market after closing at Rs.113.90 yesterday
Quick take on 2012 Budget by IIFL Securities Ceylon The 2012 Budget was relatively uneventful. It could be viewed as building on the significant tax reforms brought in by its predecessor whilst focusing on long-term infrastructure-led development and fiscal consolidation. The Government envisaging a fiscal deficit target of 6.2% of GDP for 2012 is a ...
- COMBank breaks Rs. 10 b barrier in pre-tax profit (Category: Business)
- Official: Obama to back more business tax breaks (Category: USA, South Carolina)
- Ministry of Economic Development breaks silence; responds to tourism, BOI issues (Category: Business)
- Shangri-La breaks ground (Category: Business)
The premier private sector lobby Ceylon Chamber of Commerce (CCC) yesterday welcomed the 2012 Budget and emphasised that it looked forward to working with the Government with regard to implementation. The chamber issued a statement yesterday after a careful study of the proposals in Budget 2012 presented by President and Finance Minister Mahinda Rajapaksa on ...
- Ceylon Chamber 2012/13 member directory out (Category: Business)
- Ceylon Chamber urges consistent tax, investor policies (Category: Breaking News)
- Private sector Chambers praise Govt’s stable tax regime (Category: Business)
Research issue Sri Lanka’s growth cannot be examined in isolation. This is because its economy is intricately interwoven to its neighbours and other countries through commercial, political and cultural links. The sustainability of any growth strategy adopted by the country will depend on the stability of different partnerships and the ability of the country to ...
- Lanka woos UAE business (Category: Business)
- CCC Chief calls for new wave of reforms (Category: Business)
- Sri Lankan F&B industry: What’s next? (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
Arrenga Capital Research takes a deeper look at Budget 2012 and impact on select listed companies 1. A challenging deficit target – 6.2% of GDP in 2012 I. Government revenue targeted to grow by 20.2% YoY to Rs. 1,126.1 b (14.7% of GDP) II. Total Government expenditure to rise 14.1% YoY to Rs. 1,594.9 b ...
- Highlights of the Budget 2012 proposals (Category: Business)
- Sri Lanka Budget 2012: Growth in focus (Category: Business)
- Budget bloats! (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
the Sri Lankan Rupee is a signal on moving towards a ...
- UNP MP’s walk out of the parliament while President Rajapaksa was delivering the budget speech (Category: Breaking News)
- Salaries of state sector employees increased by 10% (Category: Breaking News)
- Cabinet approves 2012 Budget Proposals (Category: Breaking News)
- 2012 budget to be presented on November 21st (Category: Breaking News)
By Marianne David, Dinali Goonewardene, Cheranka Mendis, Cassandra Mascarenhas, Devin Jayasundera and Chamitha Kuruppu Brandix CEO Ashroff Omar Overall, we are glad that all that we had asked for, having worked with the Treasury before the Budget, has come in. There are slight tweaks from our proposals to what has been given, but overall we ...
- NCCSL commends Budget 2012 (Category: Business)
- Exporters’ Forum returns in full strength; exporters upbeat on prompt results (Category: Business)
- ‘‘Most SME-friendly budget Sri Lanka has seen in recent times’’– Rishad (Category: Business)
MP charges that Government is focusing only on physical infrastructure and adopting a top-down development approach instead of a more inclusive and participatory humane political futureUnited National Party Parliamentarian Eran Wickramaratne asserts that the Government is depleting the resources of the municipality on an election extravaganza. In a candid interview with the Daily FT, the ...
- Hashim on UNP leadership crisis, pressing national issues (Category: Business)
- DPF to the fore (Category: Business)
- “UPFA will win the election” (Category: Business)
- Muza upbeat on Colombo (Category: Business)
By Simon Montlake Forbes.com: On my first trip back to Sri Lanka since February 2010, I noticed plenty of positive changes. New construction, cleaner streets and a lighter security presence (a bloody civil war ended in May 2009). The IMF predicts Sri Lanka’s economy will expand this year by 7.5%, keeping pace with next-door giant ...
- CBSL chief expresses optimism (Category: Breaking News)
- Rupee strengthens on inflows into bonds (Category: Business)
- No timing yet for Sri Lanka review prior to next loan disbursal: IMF (Category: Business)
- Devaluation a “right step,” says IMF (Category: Business)
By Dinali Goonewardena A COMMON currency between the Maldives and Sri Lanka has not been discussed by the Sri Lankan Authorities, a Central Bank official said yesterday. There were reports over the weekend that the Maldivian President was seeking a common currency between the two countries. “A lot of institutional infrastructure is required to enable ...
- Plans being made for Lankan Rupee- Rufiya currency swap (Category: Breaking News)
- SL-Male currency swap talks continue (Category: Breaking News)
- Sri Lanka provides training for construction industry professionals from Maldives (Category: Breaking News)
- Sri Lanka, Maldives to sign MoU on tourism (Category: Breaking News)
The Sri Lankan rupee has appreciated. According to the Central Bank, the rupee has appreciated 0.96 percent against the Dollar. The Central Bank attributed this development to the increased foreign investment. Such investments for the first half of this year have reached 413 million US Dollars
Minister Basil Rajapaksa has said that the effort of the Government was to continuously safeguard the economic growth achieved after the victory over terrorism and accelerate it. Sri Lanka has achieved a higher economic growth after the military victory. Even a considerable growth has been recorded in the tourism sector. Minister Basil Rajapaksa said that ...
- Sri Lanka exporting maize is a people's victory - Minister (Category: Breaking News)
- Economy sees record growth (Category: Breaking News)
- Sri Lanka achieves highest economic growth rate (Category: Breaking News)
- We are winning economic war - Basil (Category: Breaking News)
By Ashwin Hemmathagama National Insurance Trust Fund (NITF) was created by an Act of Parliament in the year 2006. A subsequent amendment, No 28 of 2007 has empowered NITF to accept compulsory reinsurance cession from local insurance companies. NITF has fixed the compulsory cession at 20% of the general insurance programmes of all insurance companies ...
- NITF (Category: Breaking News)
- RAM reaffirms National Insurance Trust Funds ratings at AAA/P1 (Category: Business)
- Outlook stable for reinsurance industry: S&P (Category: Business)
- Debutant Orient Insurance records Rs. 100 m GWP in 1Q (Category: Business)
The Central Bank says that the value of the Sri Lankan Rupee has appreciated. The Central Bank said this clearly indicates the growth achieved in Sri Lanka’s economy. The foreign exchange value of the Sri Lankan rupee had increased in comparison to the US Dollar. Latest statistics of the Central
- Rs. 95,000 million Treasury Bills are to be issued through an Auction on 18 January 2023 (Category: Breaking News)
- Rate Controversy (Category: Business)
- Overshooting (Category: Business)
- Swap Boost (Category: Business)
COLOMBO, Sept 27 (Reuters) - The Sri Lankan rupee rose to a 21-month high on Monday after the IMF approved the fourth payout from a $2.6 billion loan.
The Central Bank has said that the remittances made by expatriate Sri Lankans have steadily increased. The foreign Exchange reserves have increased by 3.8 billion US dollars since the country was liberated from terrorism. Financial aid received by people in the North and East, as well as sustained inflows from the Middle East have contributed ...
by Anusha Ondaatjie Remittances sent home by Sri Lankan nationals overseas may rise to a record $3.8 billion in 2010, a central bank official said, adding that policy makers will ensure stability of the currency as the flows increase....
- Government land policy is fair- Keheliya (Category: Breaking News)
- Bond Auction (Category: Business)
- ‘SL will implement home-grown solution’ (Category: Breaking News)
- Market Flavour (Category: Business)
Sri Lankan Rupee closed firmer on 9th of March as banks sold Dollars to buy Rupees on hopes of...
Sri Lankan Rupee closed firmer yesterday as banks sold Dollars to buy Rupees on hopes of rise in interest rates due to Government’s high domestic borrowing that has resulted high budget deficit. The Rupee closed at 114.05/10 per Dollar, compared with Monday’s 114.15/18, as Banks bought
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