Sri Lankan mutual funds’ outflows rise amid economic turmoil: Fitch
The Sri Lankan mutual fund industry experienced large outflows in March 2022 with total assets under management (AUM) shrinking by more than 8% to LKR178 …
Economy & Markets
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Ranil Rally – stocks up another 5%
May 13, 2022 (LBO) - Sri Lanka's main stock market indices continued their surge finishing the day up another 4-5%. This comes on the back of yesterdays 3-4% …
Ranil sparks stock market Rebound
May 12, 2022 (LBO) - The main stock market indices in Sri Lanka surged on Thursday, the first day of trading following a market shut down due to curfews …
Joint Chambers call for appointment of interim PM and cabinet
Joint Chambers together with Institute of Chartered Accountants of Sri Lanka call upon the President to take immediate steps to appoint a competent person as …
Year on year food prices increase close to 50-pct: Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 14% from March 2022 to …
It is critical that we receive funds from Japan, as they are the only option we have left: Harsha
Contrary to statements made by former Ministers who stated that Sri Lanka will receive funds from the Middle East and various other countries, ultimately, it …
Another Grant of 300 Million Chinese Yuan from China to Sri Lanka
China has decided to provide another grant of 300 million Chinese Yuan to Sri Lanka to help in the supply of medicine, food, fuel, and other essentials, the …
Luminex Limited announces upcoming IPO
Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share commencing on …
Some Sri Lankan Corporates More Affected by Stressed Environment: Fitch Ratings
Some rated Sri Lankan corporates are more affected by the challenging macroeconomic environment stemming from the Sri Lanka sovereign’s distressed credit …
Staff-level agreement with IMF is likely to be reached within next 2 months: CB Governor
While external debt restructuring remains a top priority for the Sri Lankan government, domestic debt in the form of Government securities and Sri Lanka …
Debt-for-nature swaps can provide debt relief, but could constitute event of default: Moody’s
In a proposal to Sri Lanka's government, the United Nations Development Programme (UNDP) has suggested debt-for-nature swaps as part of the sovereign’s …
Inflation is expected to peak at 29-pct in July; LKR to further depreciate
Inflation is expected to peak at 29% in July owing to potential price hikes in essential commodities like gas, electricity, and fuel prices, the First Capital …
IMF team for Sri Lanka completes initial technical discussions on an IMF-supported program
During the 2022 IMF and World Bank Spring Meetings in Washington, D.C., IMF Managing Director Kristalina Georgieva and other senior members of IMF management …
IMF to consider Sri Lanka’s special request for a Rapid Financing Instrument
The International Monetary Fund (IMF) will consider the special request made despite it being outside of the standard circumstances for the issuance of a Rapid …
Colombo Stock Brokers Association defends the decision by SEC to temporarily close down CSE
Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the …
SEC directs CSE to temporarily close stock market; CCC requests SEC to reconsider decision
The Ceylon Chamber of Commerce requests the Chairman of the Securities and Exchange Commission to reconsider the decision to direct the CSE to temporarily …
Fitch downgrades Sri Lanka to ‘C’
Fitch Ratings has downgraded Sri Lanka's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on foreign-currency bonds …
Sri Lanka suspends normal debt servicing; announces interim policy on servicing external debt
Sri Lanka's government has suspended the normal debt servicing of all affected debts, for an interim period pending an orderly and consensual restructuring of …
Sanjeeva Jayawardena & Ranee Jayamaha to continue to serve on Monetary Board: CB Governor
President’s Counsel Sanjeeva Jayawardena and Dr. Ranee Jayamaha, appointed members of the Monetary Board, have acceded to continue to serve on the Monetary …
Technical negotiation with IMF started; RFPs to be called to appoint advisors for debt restructuring
Sri Lanka's Central Bank has already started technical negotiations with the International Monetary Fund for an IMF program and appointing financial and legal …