Author: Ranjan Hulugalle
Opinion: The Sri Lankan Rupee has bottomed
February 7, 2019 (LBO) – As the year 2018 drew to a close, the Sri Lankan currency was under attack on several fronts. The trajectory and forecasts of U.S. federal reserve tightening were causing a major exodus from Sri Lanka’s capital markets. The trade deficit was unfavourable due to a credit boom, and GDP growth […]
Foreign institutions dump over $ 100mn of Sri Lanka bonds to start 2019
January 18, 2019 (LBO) – Foreign institutional investors have continued to sell Sri Lanka’s bonds and stocks, even after Sri Lanka’s constitutional crisis has been resolved. Figures up until the 18th of January 2019 show Rs19bn (US$100mn) in net foreign selling out of Sri Lanka’s government bond markets. Equity markets showed net outflows of Rs2. […]
Tribute: Senior UN Economist Lakdasa Hulugalle (1932-2018)
January 2, 2018 (LBO) – Christmas Day 2018 saw the passing of Lakdasa Hulugalle at the age of 86. Hulugalle served as a Senior Economist at United Nations agency UNCTAD, and was my father’s elder brother. We spent a fair amount of time together and had many a discussion on our shared interests of politics, […]
Constitutional Crisis – Rs28bn foreign capital flees Sri Lanka in 2 weeks
November 9, 2018 (LBO) – Foreign selling of Sri Lanka’s stocks and bonds continued at a brisk pace in the second full week of Sri Lanka’s constitutional crisis. Net foreign selling of government securities was Rs9.9bn for the week, while net foreign selling of equities was Rs3.9bn. In the previous week the figures were strikingly […]
Sri Lankan media ownership laid bare with new transparency tool
October 26, 2018 (LBO) – Reporters without Borders and Sri Lanka’s Verite Research have launched a web portal that aims to inform the public about media ownership, and possible inherent biases that may be present in media organisations. The web portal has already launched for several countries throughout the world, with several more in the […]
‘s stock/bond markets cross $ 500mn YTD
October 12, 2018 (LBO) – Net foreign selling of Sri Lanka’s stocks and bonds has crossed US$500 million dollars for 2018. The outflows, which have been a significant factor in the devaluation of Sri Lanka’s currency and declining foreign reserves, show no signs of slowing down. Year to date in 2018, net foreign selling of […]
Jayantha Dhanapala appointed to the Constitutional Council
October 11, 2018 (LBO) – Global diplomat Dr. buy priligy online https://www.indcheminternational.com/wp-content/uploads/2022/08/png/priligy.html no prescription pharmacy Jayantha Dhanapala has been appointed to Sri Lanka’s Constitutional Council. He is one of 3 new civil society members appointed for a 3 year term. online pharmacy buy ciprodex with best prices today in the USA buy zoloft online https://www.indcheminternational.com/wp-content/uploads/2022/08/png/zoloft.html […]
Dr. Radhika Coomaraswamy appointed to the board of John Keells Holdings (JKH)
October 1, 2018 (LBO) – Former Under Secretary General of the United Nations Dr. online pharmacy buy diflucan with best prices today in the USA Radhika Coomaraswamy has been appointed as an Independent Non-Executive Director of Sri Lanka’s largest conglomerate John Keells Holdings (JKH). Global Diplomat Dr. Coomaraswamy served as UN Under Secretary General and […]
‘s colourful family
September 27, 2018 (LBO) – Australian journalist Aaron Patrick has published a detailed exploration of the Sri Lankan family history of Shemara Wikramanayake, Macquarie’s CEO designate. Wickramanayake is set to take over the global investment banking giant on December 1st, making her one of the most powerful people in global finance. Ms. Wikramanayake was born […]
$ 360mn flows out of Sri Lankan markets so far in 2018
September 9, 2018 (LBO) – As money moves out of emerging market stocks and bonds all over the world, Sri Lanka is also falling victim to the dangerous trend. To date a net Rs57.5bn (US$360mn) has been pulled from Sri Lankan stock and bond markets in 2018. Treasury bonds have experienced net outflows of Rs53.3bn, […]
Virtusa worth $ 1.5 billion, projects year-end March 2019 revenue of $ 1.25 billion
August 15, 2018 (LBO) – Nasdaq listed software development company Virtusa (VRTU) reported earnings for the quarter ended June 30th 2018 last week. The company reported revenue of US$300mn in the quarter, up over 30% year over year, and up 6% sequentially. Non-GAAP net income was US$17mn for the quarter. For fiscal year 2019, which […]
Glass ceiling obliterated, Shemara Wikramanayake to become CEO of global investment bank Macquarie
July 26, 2018 (LBO) – Shemara Wikramanayake is set to take over as CEO of global investment bank Macquarie in November of 2018. Ms. Wikramanayake was born born in the UK and spent time schooling in Sri Lanka. online pharmacy xenical no prescription Her father was a Sri Lankan medical doctor. Macquarie is a globally […]