Sri Lanka reserves improve to USD 8.9bn by end June; YTD rupee appreciation 4.1-pct
July 11, 2019 (LBO) – Sri Lanka's gross official reserves have reached 8.9 billion US dollars by end June 2019, following the receipt of 2 billion US dollars …
Economy & Markets
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Sri Lanka Central Bank maintains policy interest rates at current levels
July 11, 2019 (LBO) – Monetary Board of Sri Lanka’s Central Bank at its monetary policy meeting has decided to maintain policy interest rates at their …
John Keells empowers skills development of over 9200 youth in 2018/19
(PRESS RELEASE) “When I came home with my poor O/L results, my father asked me what I would do with my life now? He actually gave up on me. It was my mother …
Millennium Challenge Corp. committed to advancing Sri Lanka compact: New CEO
July 08, 2019 (LBO) – New CEO of the Millennium Challenge Corporation, Sean Cairncross says that they are committed to advancing the proposed 480 million …
Monetary Policy to be maintained allowing impact of previous rate cut to materialize: FCR
July 08, 2019 (LBO) – Sri Lanka’s Monetary Board would continue the policy rates with no change, considering the fact that it is too early to assess the …
Foreign outflows continue to plague Sri Lanka’s capital markets
July 6, 2019 (LBO) - Foreign investors continue to be net sellers of Sri Lankan stocks and bonds with net outflows reaching their highs for the year. Net …
Sri Lanka stocks come alive with S&P SL 20 up 4% for the week
July 5, 2019 (LBO) - The Colombo Stock Exchange (CSE) had one of its better weeks in recent memory with both major indices notching impressive gains for the …
Perpetual Treasuries suspension of business activities extended by 6 months
July 05, 2019 (LBO) – Monetary Board of the Central Bank has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the …
Sri Lanka launches USD2.2Bn LRT project to modernise city dwelling and transportation
Jul 04, 2019 (LBO) - The government launched the Malabe and Colombo Fort Light Rail Transit (LRT) project with the aim of modernising the city's transpotation …
World Bank classifies Sri Lanka as upper-middle income country under new revision
Jul 02, 2019 (LBO) – Sri Lanka has moved up to the upper-middle income category from lower-middle income category under the World Bank’s new country …
SriLankan Airlines incurs to Rs.13Bn loss in first 4 months of 2019
Jul 02, 2019 (LBO) - State-run SriLankan Airlines total loss has increased to 12,961 million rupees in the first four months of 2019, a new report said. The …
Fitch rates Sri Lanka’s USD bonds final ‘B’
July 01, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka's 500 million US dollars, 6.35% bonds due 2024 and 1.5 billion 7.55% bonds due 2030 a final rating …
Sri Lanka public servant pay hike effective from today
Jul 01, 2019 (LBO) - The salary increment and other allowances for public servants proposed by Finance Minister Mangala Samaraweera in his budget 2019 is …
Accountants can assist in implementing effective tax system: Inland Revenue COMNR GEN
Jun 27, 2019 (LBO) – The new Commissioner General of Inland Revenue, Nadun Guruge recently highlighted the important role Chartered Accountants can play in …
Sri Lanka securities regulator files charges on market manipulation
Jun 26, 2019 (LBO) – Sri Lanka's Securities and Exchange Commission (SEC) has filed an action in the Magistrate’s Court against two investors on charges of …
Sri Lanka successfully launches USD bond with over 3 times oversubscription
Jun 25, 2019 (LBO) – Sri Lanka returned to the US dollar bond markets, successfully pricing a new issuance of 500 million dollars 5-year and 1.5 billion …
Sri Lanka launches its National Card Scheme
Jun 24, 2019 (LBO) – The Central Bank of Sri Lanka together with LankaClear (LCPL) achieved a significant milestone in the country’s payment landscape by …
Moody’s assigns B2 rating to Sri Lanka’s proposed senior unsecured USD bonds
Jun 24, 2019 (LBO) – Moody's Investors Service has today assigned a B2 rating to Sri Lanka's proposed senior unsecured US dollar-denominated bonds. The …
Fitch assigns Sri Lanka’s USD bonds expected rating of ‘B(EXP)’
Jun 24, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka's forthcoming US dollar bonds an expected rating of 'B(EXP)'. The rating agency said the expected …
Opinion: Credit to Coomaraswamy – Sri Lanka is economically stable despite political/security challenges
June 24, 2019 (LBO) - Sri Lanka is set to tap the credit markets for the second time this year. A sovereign bond is to be floated at interest rates that are …