The Central Bank of Sri Lanka (CBSL) announced the official US Dollar exchange rates for today (March 22).

Sri Lanka’s rupee, which became the world’s best performing currency this year amid hopes of an International Monetary Fund bailout, may resume declines and lose a fifth of its value against the dollar by end-2023, according to Fitch Solutions. “We are optimistic that Sri Lanka will be able to secure an IMF board approval by […]

Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, posted impressive overall growth with annual revenue surpassing Rs 100 Bn once again, recording Rs 108 Bn for the financial year 2022. This resulted in the Group recording a revenue increase of 5.2% for the financial year 2022, strengthened by a healthy bottom line […]

Sri Lanka Telecom Group (SLT Group) posted an impressive overall growth with annual revenue surpassing Rs 100 bn once again, recording Rs 108 bn for the financial year 2022. This resulted in the Group recording a revenue increase of 5.2% for the financial year 2022, strengthened by a healthy bottom line of Rs 4,765 Mn […]

by Jehan Perera The government’s proposal to set up a truth and reconciliation mechanism to deal with the unresolved human rights issues of the war will get a boost in the aftermath of last week’s unexpected developments that will directly affect three former presidents of Sri Lanka hitherto thought to be untouchable by virtue of […]

By SHIHAR ANEEZ Tens of thousands of Sri Lankan individuals as well as corporates have to cut spending and investment from January as steep income tax rates come into force to finance a bloated state amid 65 percent inflation and turnover tax hikes that had already depleted disposable incomes. The higher income taxes are coming in […]

Two Fundamental Rights actions In a Fundamental Rights action (SCFR 212/2022) against a string of VIPs, the Supreme Court has granted leave to proceed against former President Gotabaya Rajapaksa, former Finance Ministers Mahinda Rajapaksa and Basil Rajapaksa, former Central Bank Governors, Professor W.D Lakshman and Ajith Nivard Cabraal, the Monetary Board of Sri Lanka and […]

By A.J.A Abeynayaka The Supreme Court yesterday granted leave to proceed with several fundamental rights petitions seeking legal action against former President Gotabaya Rajapaksa, former Finance Ministers Mahinda Rajapaksa and Basil Rajapaksa, and 36 others for financial irregularities and mismanagement of the economy.The cases were filed by Transparency International Sri Lanka (TISL) and a forme...

Sri Lanka economic crisis aggravated after the collapse of rupee in March 2022

Interest on several International Sovereign Bonds have been missed.

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Sovereign default together with increasing economic challenges poses significant downside risks to DFCC's profitability

Has government securities

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BPPL Holdings reported earnings of 0.98 rupees per share for the quarter.

We believe the foreign-currency funding and liquidity profile is highly stretched

Views of Milton Friedman, Robert Mundel and how John Greenwood and Alan Walters set up the Hong Kong currency board

About 2.0 billion rupees left from IPO to be used to settle dollar and rupee debt

2025, 2027 bonds downgraded to default a month after coupon payments missed