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by Jehan Perera President Ranil Wickremesinghe notched up another achievement when Parliament ratified the Domestic Debt Restructuring (DDR) programme with a majority of 60 votes, with 122 members voting for and 62 against, with 40 abstentions. Parliamentarians who would need to think about their re-election prospects would have been reluctant to vote for a programme […]
- Domestic debt restructuring will cripple EPF, ETF – JVP (Category: Breaking News)
- JVP Leader nails govt. on ETF, EPF balances (Category: Breaking News)
- Govt. planning to place EPF, ETF under independent body (Category: Breaking News)
- Ranil raises red flag over EPF, ETF in Parliament (Category: Business)
Sri Lankan state can’t allow even a small bank to collapse because that will trigger a bank run with a devastating impact on the economy. Governor of the Central Bank of Sri Lanka CBSL) Dr. Nandalal Weerasinghe said, on Thursday night, taking part in a televised discussion. Dr. Weerasinghe said that Domestic Debt Restructuring (DDR) […]
- EPF asked to pay 30% tax unless it participates in domestic debt restructuring process (Category: Breaking News)
- Governance issues, etc., will have to be sorted out to avert further debt restructuring: Verité ... (Category: Breaking News)
- SJB to present amendment to EPF act (Category: Breaking News)
- COPF discusses effect of domestic debt restructuring on EPF (Category: Breaking News)
Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank
- CB Governor outlines importance of DDR to protect banks and save overall economy (Category: Breaking News)
- Governance issues, etc., will have to be sorted out to avert further debt restructuring: Verité ... (Category: Breaking News)
- Involuntary & Inequitable DDO (Category: Breaking News)
- Central Bank informs EPF members: “decided to opt for” DDO (Category: Breaking News)
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
- Planning For A Year Of Elections (Category: Breaking News)
- Is State Owned Temasek A Useful Concept For Sri Lanka? (Category: Breaking News)
- To Be Realistic, There Are Only Two Options (Category: Breaking News)
- Liberal Or Edible Economics: Global Disorder Worst In A Century (Category: Breaking News)
Steps are being taken to prepare the new integrated labour law to avoid the complexities of the existing employment statutes, Minister of Labour and Foreign Employment, Manusha Nanayakkara, recently told the Ministerial Consultative Committee on Labour and Foreign Employment affairs. The Minister said they will start taking opinions and suggestions of all relevant parties from […]
- Flexible work arrangements to be introduced in Sri Lanka? (Category: Breaking News)
- Draft of proposed Employment Act to be made public soon (Category: Breaking News)
- Manusha issues warning over health sector jobs in Israel (Category: Breaking News)
- Manusha and Harin resign from ministerial portfolios (Category: Breaking News)
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
- Sri Lanka Government hoping to restructure $17 billion foreign debts along with local debts (Category: Breaking News)
- Sri Lanka virtually let down by China in securing a $2.9 billion IMF loan in December (Category: Breaking News)
- President urges China to change tune on debt (Category: Breaking News)
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
[…]The post Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? appeared first on Colombo Telegraph.
- Budget 2023 Will Be The Acid Test Of RW’s Magic Wand (Category: Breaking News)
- Navigating The Economic Reawakening & Sustainable Growth (Category: Breaking News)
- Sri Lanka’s New Government: Be Warned Of The Empty Treasury & Negative Foreign Reserves (Category: Breaking News)
- Bankrupt Sri Lanka Celebrated Independence, But Now It Is Back To Hard Economic Realities (Category: Breaking News)
Fear of a DDR/IFR event drive rates even higher
- Sri Lanka central bank US$4.0bn in debt by March 2022 (Category: Breaking News)
- Sri Lanka central bank busts US$9.8bn since Feb 2020 to suppress rates, for stimulus (Category: Breaking News)
- Sri Lanka’s Central Bank Governors should be restrained by law, not given independence (Category: Breaking News)
- Sri Lanka will have to print money unless taxes are raised: CB Governor (Category: Breaking News)
[…]The post JR & Expert Advice: Failing To Implement Goh Keng Swee Report Of 1980 appeared first on Colombo Telegraph.
- SC Judgment, Fiscal Philosophy, & Long-Term Decisions For A Brighter Future (Category: Breaking News)
- Sri Lanka’s tragedy and the lost wisdom of D S Senanayake on money printing (Category: Breaking News)
- A Child’s Guide To Currency Boards: Why Did Ceylon Give Up The Currency Board, While Singapore D... (Category: Breaking News)
- Sri Lanka President revises budget amid inflationary blow off (Category: Breaking News)
Currency depreciation inflates an economy and imposes a 'hair cut' on domestic debt by reducing purchasing power
- Sri Lanka 3-month Treasuries yield up 107bp, not all offered bills sold (Category: Breaking News)
- Sri Lanka’s Commercial Bank profits up 73-oct in March 2022 quarter (Category: Breaking News)
- Sri Lanka rejects bids for 2025 bonds, some 2029 bonds sold (Category: Breaking News)
- Sri Lanka Treasuries auction fails over re-structuring fears (Category: Breaking News)
[…]The post Some Suggestions To Assist In Sri Lanka Striving To Achieve A Primary Balance appeared first on Colombo Telegraph.
- Did The NOCPCO Fail To Install A Trip Switch Before Releasing Prisoners? (Category: Breaking News)
- Is Post-Crisis Essential Reforms Being Effectively Progressed? If Not What Is The Way Forward? (Category: Breaking News)
- Mr. President, Dawn Of The New Year Is The Time For Reflection & To Redress Citizens Grievances ... (Category: Breaking News)
- Draft Anti-Corruption Law; Urgently Required Additional Law Reforms: An Open Letter To Minister ... (Category: Breaking News)
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? (Category: Breaking News)
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? (Category: Breaking News)
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? (Category: Breaking News)
Photo courtesy of Longitude 80 The estate sector, a high foreign exchange earner for the country, is undergoing a severe crisis. On one hand, estate workers are underpaid and forced to live...
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- Alternative Models to Improve Lives of Estate Workers (Category: Breaking News)
- “Tea Is The Most Affordable Luxury,” Says The Sri Lanka Tea Board. How So? On Whose Toil? (Category: Breaking News)
[…] The post The Right Way To Do The Eastern Container Project appeared first on Colombo Telegraph.
- Nandasena Gotabaya Rajapaksa Hoodwinks World Body (Category: Breaking News)
- Nandasena Gotabaya Rajapaksa Hoodwinks World Body (Category: Breaking News)
- Actually, The Foreign Ministry Certainly Seems Foreign Now (Category: Breaking News)
- Actually, The Foreign Ministry Certainly Seems Foreign Now (Category: Breaking News)
2014 T Bond Yield Goes Below One Year T Bill Rate In Secondary Market The rupee further strengthened at Friday’s (September 21) trading due to a mix of sluggish import demand and possible foreign investment in the Government Bond market, a source told this newspaper. As a result, the exchange rate (ER) strengthened by 25 ...
- Money Market’s Illiquid Status Deepens (Category: Breaking News)
- Money Market, ER Management, Full Marks To CBSL (Category: Breaking News)
- Stage Set For FDI Inflows (Category: Breaking News)
- CBSL Rekindles War Memories (Category: Breaking News)
Last week’s weekly Treasury (T) Bill auction saw yields continuing with their upward ascent, with the weighted average yields (WAYs) for 182 and 364 day T Bills rising by seven and four basis points (bps) to 13.02% and 13.27% respectively. However the WAY for the 91 day T Bill stagnated at the 11.36% level, which ...
- Hike Stalled (Category: Breaking News)
- Yields Move Up (Category: Breaking News)
- Market Expects Rate Hike (Category: Breaking News)
- Rate Status (Category: Business)
But Market’s Illiquid Status Of Such, Drawback In a depressed market, such as that which is facing the Colombo bourse today, the time however is ripe for investors to buy good stocks at bargain prices an economist said. Amal Sanderatne, Director, Frontier Research (Pvt.) Ltd., addressing a seminar on the economy with a focus on ...
- Mafia Manipulates Bourse (Category: Breaking News)
- Bourse’s Volatility Here To Stay (Category: Breaking News)
- Politicos , Brokers ; Bourse’s Tailwind (Category: Breaking News)
- Broker Credit Drives Up Market (Category: Breaking News)
Jun 28, Colombo: Sri Lanka's main opposition United National Party (UNP) says that the private sector pension fund, the Employees' Provident Fund (EPF) has lost over Rs. 12 billion in its investments in the Colombo Stock Exchange.
“The demoralising, destructive character of the patriotic degeneracy….” Sebastian Haffner (Germany: Jekyll and Hyde) By Tisaranee Gunasekara It was the Oxford Debacle all over again. The events were drearily predicable. Sri Lanka, like every Commonwealth nation, received an invitation for the Diamond Jubilee celebrations of Queen Elizabeth II. President Rajapaksa, unlike most Commonwealth leaders,...
- Protest stage in London against the arrival of President Rajapaksa (Category: Breaking News)
- President leaves for UK (Category: Breaking News)
- Commonwealth parliamentary session to be held in SL (Category: Breaking News)
- Sri Lanka President Rajapaksa to be guest of honour at CWG closing (Category: Breaking News)
Jun 03, Colombo: Sri Lanka's main opposition United National Party (UNP) has appointed a committee to study and make proposals on the private sector retirement fund, Employees' Provident Fund (EPF), monies that have been lost due to bad investments in the Colombo Stock Exchange (CSE).
May 29, Colombo: A private sector trade union in Sri Lanka is to lodge a complaint today with the Commission to Investigate Allegations of Bribery and Corruption calling for an inquiry into the investing of Employees Provident Fund (EPF) monies in the Colombo Stock Exchange (CSE).
the Employees’ Provident Fund (EPF). Ceylon Grain Elevators PLC, Laugfs Gas PLC ...
- TFC buy against NSB Act: Legal experts (Category: Business)
- NSB Head gives quit notice (Category: Business)
- NSB-TFC deal: CID questions Kariyawasam (Category: Business)
- NSB conspicuous by its silence on allegations over TFC buy (Category: Business)
The bourse breathed a sigh of relief at Friday’s trading on the knowledge that sanctions, at least in the immediate future will not be imposed on the island despite Thursday’s Human Rights (HR) resolution against Sri Lanka at Geneva which resulted in it returning a higher Rs. 926.9 million turnover on Friday compared to low ...
- Bourse Hits New Low (Category: Breaking News)
- Palmyrah Development Board improve turnover (Category: Breaking News)
- Brokers blame ATS-7 for turnover slump on CSE (Category: Breaking News)
- Shares move from marginally down position in mid-day trade to red territory as day proceeds (Category: Breaking News)
Avurudhu Rupee Commitments Bear on Exporters The exchange rate (ER) held at the Rs. 130 levels to the US dollar ($) at Wednesday’s, Thursday’s and Friday’s trading as exporters began encashing their $ proceeds to meet their local commitments, a market source told this reporter. “In the event they persisted in holding on to their ...
- Rupee Strengthens, But Illiquid Status Worsens (Category: Breaking News)
- Money Market, ER Management, Full Marks To CBSL (Category: Breaking News)
- Quo Vadis Exchange Rate? (Category: Breaking News)
- PBJ, (Category: Breaking News)
The Employees Provident Fund gets a profit of 800 million rupees. The Employees Provident Fund which possessed 71 million shares of conglomerate John Keells Holdings had been sold at 194 rupees per share, bringing a capital gain to the Fund. These shares have been purchased by Malaysia’s Khazana Nasional Berhard, a sovereign wealth Fund. ...
- Political bunfight over City Hall costs (Category: Australia, Queensland)
- 2.9 mil to asbestos victims (Category: Australia, Tasmania )
- IMF to consider $ 800m loan for Sri Lanka (Category: Breaking News)
- Sri Lanka continued strong economic recovery says IMF (Category: Breaking News)
‘A ruler with a depleted treasury eats into the very vitality of the citizens and the country. A ruler, who impoverishes his own people or angers them by unjust exactions will also lose their loyalty Impoverishment, greed and dissatisfaction are engendered among the subjects, when the ruler among other things (i) fails to give what ought ...
- 2024 Election Year; The Perennial Challenge Of Cleaning The Stables For Sri Lanka! (Category: Breaking News)
- Prosecuting Aragalaya Protestors; A Legal Perspective (Category: Breaking News)
- Ranil’s Honeymoon With The ‘Inglorious Illegitimates’ (Category: Breaking News)
- Nihal Sri takes on ‘Expropriation Bill’ (Category: Business)
Last week there were more stories making the rounds on contemplated decisions made outside the cabinet meeting than decisions made inside. Of course, the usual briefing on cabinet decisions were spelled out, Thursday afternoon. For a regime that still wants to boast it has popular support, comparing itself to an opposition fractured and quarrelling red and green, it is ...
- Whither Lanka? (Category: Breaking News)
- Cabinet gets down to biz! (Category: Business)
- Why Pay For Bumpkins In Opposition With Public Money? (Category: Breaking News)
- Thus spake Wimal Weerawansa (Category: Breaking News)
Fitch Ratings has affirmed Sri Lanka’s Housing Development Finance Corporation Bank’s National Long-Term rating at ‘BBB+(lka)’. The “Outlook” Fitch says is Stable. At the same time, the agency has affirmed the bank’s outstanding senior unsecured redeemable debentures at ‘BBB+(lka)’. The ratings reflect HDFC’s demonstrated ability to contain interest rate risk b...
- Regional Development Bank affirmed at ‘BBB+(lka)’/Stable (Category: Breaking News)
- Fitch Affirms Senkadagala Finance at ‘BBB+(lka)’ (Category: Breaking News)
- Fitch Affirms Pan Asia Banking Corp at ‘BBB(lka)’/Stable (Category: Breaking News)
- Fitch affirms Senkadagala Finance at ‘BBB+’ (Category: Business)
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