Category: Economy and Markets
Galle Face Icon partners with Sampath Bank as exclusive project funding partner
Galle Face Properties Ltd, a subsidiary of conglomerate Renuka Holdings, recently partnered with Sampath Bank as the exclusive project funding partner for the development of the Galle Face Icon, a 30-storey building with grade A office space, amenities, serviced suites and recreational areas located between the Beira Lake and Galle Face Green. Commenting on the […]
‘s official reserves position has reached around USD 3.1bn: Central Bank
Sri Lanka’s Central Bank says that with the receipt of recent inflows, the official reserves position has now reached around US dollars 3.1 billion, and is expected to remain at such level by end of 2021. Releasing a statement, the Central Bank said that the foreign currency inflows in connection with several other facilities that […]
Sri Lanka is swept away by an economic tsunami as a result of mismanagement by a family: Eran
Sri Lanka is the only country in the world amidst the Covid pandemic that has faced unprecedented price increases, gas and fuel shortages, and a dangerously low foreign reserve position. Even the countries in the Asian region have recorded a positive GDP growth, FDI, and foreign reserves said Eran Wickramaratne MP at a press conference […]
SEC wants to finalize implementation mechanism for Central Counterparty in 2022
The new Securities and Exchange Commission of Sri Lanka (SEC) Act which came into force on 19th September 2021 contains provisions that enable the setting up of a Central Counterparty (CCP). Further, the need for setting up a CCP in order to enhance the efficiency of post-trade risk management had been spoken of for a […]
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy Unless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governor
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy. Unless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governorhttps://youtu.be/63ldwnrRsuA
CSE to extend trading hours; revise index calculation methodology of ASPI
The Colombo Stock Exchange (CSE) is revising the index calculation methodology of the All Share Price Index (ASPI) from full market capitalization-weighting to free float-adjusted Market Capitalization weighting. The Index methodology has been published on the CSE website.The Implementation of the said revision is scheduled to take place on 24 January 2022 (with effect from […]
Sri Lanka expects USD 2bn SWAP facilities from Middle Eastern & other regional central banks
The Central Bank says that the measures being taken at present will ensure that by end of 2021 official reserves will remain above US dollars 3 billion. Releasing a statement, the bank said that major foreign exchange inflows to the Central Bank include SWAP facilities with Middle Eastern and other regional central banks amounting to […]
Joint Chambers express concern on impact of currency shortage; request to engage with IMF
Statement issued by the following Institutions: We wish to draw the attention of the Government to the difficulties faced by our member companies and the broader private sector in obtaining foreign currency to finance much needed imports due to the prevailing situation with regard to the lack of availability of foreign currency. This will affect […]
‘s exports expected to surpass USD 12bn by end 2021; records USD 1.2bn in November
Sri Lanka’s merchandise exports increased by 55.11% to US$ 1,215.6 Million in November 2021 compared to November 2020 as per the data released by the Sri Lanka Customs. Exports maintained above one billion dollars for the fifth consecutive month in November this year. EDB Chairman & CE, Suresh D. de Mel said, “Sri Lanka’s exports […]
Sri Lanka headline inflation increased to 11.1-pct in November
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index, increased to 11.1 percent in November 2021 from 8.3 percent in October 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 16.9 percent in November 2021 from 11.7 […]
John Keells Foundation’s “Break the Silence” public campaign targets domestic violence
John Keells Foundation conducted a two-week public campaign against gender-based violence under its Project WAVE (Working Against Violence through Education). This year’s campaign sustained last year’s theme of ‘Break the Silence’ with a special focus on Domestic Violence in the context of reported surge in complaints received on hotlines during the pandemic. The overall objective […]