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This country’s history is repeating itself with deadly accuracy. Last week Gotabaya Rajapaksa reiterated what Sinhalese leaders have been saying since the parting of ways with the Tamils in 1958. In an interview with the BBC on Monday (May12) Rajapaksa was asked about ‘a recent local government reshuffle in the north which has seen some ...
- T-junction in the road (Category: Business)
- RajapaksaÂs constitution unacceptable: TNA (Category: Breaking News)
- Govt.: No Sinhala Colonies In The North (Category: Breaking News)
- Sri Lanka's Tamil party oppose proposed constitutional reforms (Category: Breaking News)
Fitch Ratings has affirmed Sri Lanka’s Foreign- and Local-Currency IDRs at ‘BB-’. The Outlook for both the ratings is Stable. The Country Ceiling has also been affirmed at ‘BB-’, and the Short-Term Foreign Currency IDR at ‘B’. “The ratings reflect Fitch’s view that the authorities have taken the appropriate action to correct recent pressure o...
- Appropriate actions prompt Fitch to affirm Sri Lanka at ‘BB-’; Outlook Stable (Category: Business)
- Sri Lanka’s Outlook Goes To Positive From Stable (Category: Breaking News)
- Fitch Assigns Bank of Ceylon ‘BB-’ IDRs (Category: Breaking News)
- Sri Lanka’s Commercial Bank’s rating affirmed at ‘AA(lka)’/Stable (Category: Breaking News)
and shore up foreign exchange reserves, which had been drained owing largely to ...
- Lanka growth to dip below 7.5% – IMF (Category: Business)
- Reserves drop poses rating risk: Fitch, S&P (Category: Business)
- IMF’s take on Sri Lanka’s good, bad and the ugly (Category: Business)
- No need to raise interest rates further says Cabraal (Category: Business)
The challenges Sri Lanka has to face in its march towards development are manifold. Although the war has ended the wrong political ideologies, the proposals and timetables it created are still in operation. By Government Information Department Additional Director General Chandrapala Liyanage Similarly, various social activity groups and individuals and organisations operating under the advice ...
- President’s leadership led to great achievements in ICT: Weeratunga (Category: Business)
- Building resilience in Asia Pacific’s digital society (Category: Business)
- Namal on dynasties and democracies (Category: Business)
- EDB turns 33 (Category: Business)
Parliamentary accountability The Parliament, as the country’s foremost representative institution, has the sole authority over national resources and financial allocations and concurrently has a prominent role to play in fiscal responsibility, the budgetary process, economic development and effective transparent economic and financial management, with a view to assuring sustainable growth an...
- Chandra J sends his proposals for 2013 Budget to the President (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Time for reflection, reality check, risk mitigation and lessons learnt action (Category: Business)
Reuters: Sri Lanka's rupee closed a tad firmer on Friday on light inflows from worker remittances and low importer dollar demand a day after the island nation's treasury secretary forecast the currency would strengthen to at least 125, dealers said. The rupee closed at 130.00/130.10 a dollar, edging up from Thursday's close of 130.10/130.30. It ...
- Sri Lanka rupee weaker on importer dlr demand; stocks steady (Category: Breaking News)
- Saddened due to devaluing of rupee (Category: Breaking News)
- Sri Lanka rupee hits record low (Category: Breaking News)
- Lanka's rupee devaluation is a right step: IMF (Category: Breaking News)
Rupee to strengthen to at least 125/dlr-Treasury sec Dealers wary of rupee rebound as CB buys dollars Stock market down; foreign outflow at Rs. 10.4 m Reuters: Sri Lanka’s rupee closed a tad firmer on Thursday after the island nation’s treasury secretary forecast the currency would stabilise at 125 to the dollar, dealers said. An ...
- Stocks at 23-month low; Rupee stronger (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
- Rupee down 3.1% after devaluation (Category: Business)
- Following forex! (Category: Business)
Reuters: Sri Lanka’s economic growth forecast will be lowered to a range of seven per cent to 7.5 percent due to tighter monetary policy and a rupee depreciation aimed at cutting the trade and current account deficits, the Central Bank said on Monday. Central Bank Chief Economist Swarna Gunaratne also told Reuters the 2011 balance-of-payments ...
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- CB says 2012 trade gap to narrow by 10% (Category: Business)
- Growth is better than expected – CB (Category: Business)
SRI LANKA’S fabled post-war window of opportunity seems to be closing, with the Central Bank following the International Monetary Fund (IMF) in reducing growth rates for 2012. But does that mean only gloom awaits Sri Lanka or can we ride out the tide and reach the golden shores? The Central Bank had originally forecast this ...
- CB seen keeping rates steady for fifth straight month (Category: Business)
- Central Bank seen holding rates, SRR steady (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
By Dr. Arujuna Sivananthan The consensus view is that Sri Lanka is in the midst of a Balance of Payment (BOP) crisis. It usually follows a period of large capital inflows and rapid economic growth. However, due to conflicting policy responses or policy slippage including irresponsible credit creation, an economy finds itself in a position ...
- A Sudden Stop or a Balance of Payments Crisis - Dr. Arujuna Sivananthan (Category: Breaking News)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Sri Lanka’s central bank largely loses ability to create BOP deficits (Category: Breaking News)
- Seven Months (Category: Business)
Reuters: The Central Bank will soon lower its 2012 growth forecast of eight per cent to a figure no lower than seven per cent, owing to tighter monetary policy measures and the depreciation of the rupee, the Bank’s overnor told Reuters on Friday. The bank had originally forecast this year’s growth at eight per cent, ...
- Growth is better than expected – CB (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- CB seen keeping rates steady for fifth straight month (Category: Business)
- Sri Lanka to cut growth to 7-7.5% (Category: Business)
Reuters: The International Monetary Fund (IMF) on Monday forecast Sri Lanka’s economic growth would cool to less than 7.5% due to its tighter monetary policy and currency depreciation measures, aimed at cutting the trade and current account deficits. The global lender has withheld the last $800 million left in a $2.6 billion loan program since ...
- IMF cuts Sri Lanka’s growth forecast but says future stable (Category: Business)
- IMF wants flexible policies maintained (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- CB may take act on high credit growth (Category: Business)
Tyranny of the international capital markets Dr. Indrajit Coomaraswamy, ex-Central Banker and International Civil Servant, did not mince words when he addressed the country’s exporters last week. The veteran economist, having made an assessment of the risks associated with Sri Lanka’s external sector crisis, warned that the country will have to grapple with “the tyranny ...
- High costs of poor performance or high returns of sound management (Category: Business)
- Appreciating exchange rates: Not a boon always (Category: Business)
- Flexible exchange rates and impact on exporters (Category: Business)
- No more IMF loan for Sri Lanka (Category: Breaking News)
Reuters: Sri Lanka’s rupee ended weaker on Wednesday on importer dollar demand, as traders shrugged off Central Bank intervention signals and rating agencies warned the sovereign rating may be at risk due to a potential balance-of-payments problem. The rupee closed at 121.80/122.00 to the dollar, against Tuesday’s close of 121.40/60, on importer dollar demand in ...
- S&P cuts India outlook to negative (Category: Business)
- Dollar Exchange rate hits 134 (Category: Business)
- Rupee stays strong aided by suspected RBI intervention (Category: Business)
- CB intervenes again to defend rupee (Category: Business)
CB says will intervene in high volatility Dealers say CB employing moral suasion By Shihar Aneez and Ranga Sirilal COLOMBO (Reuters): Sri Lanka’s rupee hit a new record low on Tuesday on importer dollar demand, but a State bank sold greenbacks to reverse the drop in an apparent break with the Central Bank’s new policy ...
- CB expects currency volatility to ease (Category: Business)
- Rupee sinks to record low (Category: Business)
- Rupee down 3.1% after devaluation (Category: Business)
- Markets becalmed (Category: Business)
Sri Lanka may remove a 10 per cent price trading limit on some stocks listed on the Colombo Stock Exchange, according to its Chief Executive Officer. The Bourse planned to introduce a “transparent, Sri Lanka-centric” volatility management mechanism, CEO Surekha Sellahewa said yesterday, without giving a timeframe. Stocks identified using a formula designed by the ...
- Rupee gains thanks to inflows to bullish Bourse (Category: Business)
- Kuwait hires HSBC to advise on stock market privatisation (Category: Business)
- HNB Group ups pre-tax profits by 22 % to Rs.5.8 b (Category: Business)
- Profit-taking drags Lanka stocks from 8-month high (Category: Business)
(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...
- Sri Lanka stocks may slump more on rates – HSBC Private (Category: Business)
- CB Governor sees light at the end of the tunnel (Category: Breaking News)
- Rupee hits new low, but State intervenes (Category: Business)
- Rupee down (Category: Business)
Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...
- Stocks approach one-month low; rupee steady (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- Sri Lanka Stocks May Slump More on Rates, HSBC Private Says (Category: Breaking News)
- CB seen holding rates, SRR steady – Reuters poll (Category: Business)
Reuters: The International Monetary Fund (IMF) on Friday welcomed Sri Lanka’s policy shift towards a flexible exchange rate, saying it will help contain the trade deficit and protect the nation’s dwindling foreign exchange reserves. In a marked policy shift, Sri Lanka’s Central
- No timing yet for Sri Lanka review prior to next loan disbursal: IMF (Category: Business)
- CB resumes repo auction after two-year lapse (Category: Business)
- Reactions (Category: Business)
- Consistent Policy (Category: Business)
By Jyoti Malhotra Business Standard (New Delhi): India’s promise to sell two Offshore Patrol Vessels (OPVs) to Sri Lanka, during their first-ever defence dialogue in New Delhi last week, as well as the recent agreement to build an electricity transmission line from Madurai to Trincomalee and connect the electricity grids of the two countries, is ...
- Sri Lanka is no pearl on China’s string: President (Category: Business)
- T-junction in the road (Category: Business)
- Deferred China ship visit takes place amidst diplomatic row (Category: Breaking News)
(Srilankamirror) -The International Monetary Fund says it is encouraged by Sri Lanka's monetary and exchange rate policy changes amid a sharp drop in foreign exchange reserves and significant widening of the current account deficit. "There was broad agreement that a decisive policy
The International Monetary Fund (IMF) on Friday said it was encouraged by Sri Lanka's monetary and exchange rate policy changes amid a sharp drop in foreign exchange reserves and significant...
Chemanex Group of Companies (a member of the CIC Holdings Group of Companies), a globally recognised corporate leader in manufacturing and exporting value-added speciality compounds and intermediates, added another feather to its cap with the soft opening of its subsidiary Chemcel Ltd.’s state-of-the-art Carboxy Methylated Starch (CMS) extrusion plant, which took place last week. The ...
- Ore. father accused of trying to give away the kids (Category: USA, Washington)
- Jana Aragalaya now ‘Frontline Socialist Party’ (Category: Breaking News)
- Bayliss feels for Marsh as Dilshan quits (Category: Business)
- Heshan comes second in heats but fails to qualify for next round (Category: Business)
Sri Lanka said Tuesday it did not need the final tranche of a $2.6-billion IMF bailout thanks to the country's healthy foreign exchange reserves.
COLOMBO — Sri Lanka said Tuesday it did not need the final tranche of a $2.6-billion IMF bailout thanks to the country's healthy foreign exchange reserves. The loan was granted in 2009 by the International Monetary Fund just after the end of the country's bloody ethnic civil war
- Foreign reserves level could stop IMF loan – Dr. de Silva (Category: Breaking News)
- Sri Lanka says doesn't need IMF money (Category: Breaking News)
- SL does not need IMF money (Category: Breaking News)
- SL does not need IMF money, Cabraal (Category: Breaking News)
Sri Lanka said Tuesday it did not need the final tranche of a $2.6-billion IMF bailout thanks to the countrys healthy foreign exchange reserves.
Sri Lanka said Tuesday it did not need the final tranche of a $2.6-billion IMF bailout thanks to the country's healthy foreign exchange reserves.
Reuters: Sri Lanka and the International Monetary Fund (IMF) meet this week amid a standoff over the Central Bank’s defence of the rupee currency, which has cost $ 2.6 billion in foreign exchange reserves since July – the same amount the global lender has pledged to loan. Bucking
- Sri Lanka says doesn't need IMF money (Category: Breaking News)
- SL does not need IMF money (Category: Breaking News)
- SL does not need IMF money, Cabraal (Category: Breaking News)
- Reactions (Category: Business)
Treasury (T) Bill weighted average yields (WAYs) at last week’s weekly primary auction remained unchanged for the third consecutive week, last week, but those are not market determined yields, a market source told this reporter. Even in the case of US Treasuries, yields move at least one or two basis points (bps) up or down, ...
- Money Market’s Illiquid Status Deepens (Category: Breaking News)
- Rupee Strengthens, But Illiquid Status Worsens (Category: Breaking News)
- Reflections Of Low Economic Activity (Category: Breaking News)
- Fresh shock in forex market as rupee breaks 132 barrier to hit a month low (Category: Business)
The Central Bank of Sri Lanka recently unveiled its pioneering Sixth Strategic Plan – communicating in all transparency its plans for the forthcoming financial period – based on the theme ‘Raising the Bar’. The Sixth Strategic Plan, like its predecessors, takes root from the policy measures underscored in the ‘Mahinda Chinthana,’ and is formulated to ...
- A resolute Sri Lankan economy (Category: Business)
- Robust Roadmap! (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- CB says S&P’s revision unwarranted (Category: Business)
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