The CBSL’s directive issued last year, which takes into account credit, market, operational and liquidity risk, is very much in line with the recommendations of the Bank of International Settlements (BIS), which recommends in particular capital adequacy for government banks, said internationally-renowned risk consultant and CEO/Principal of Independent Global Research Ltd. David Roden. Addre...

IPS: Most things in Sri Lanka are becoming expensive these days. In early February fuel prices were increased by margins ranging from eight to 49 per cent, with the all-important diesel, used widely in commercial transport and power generation, going up by 36 per cent. The Sri Lankan rupee

in the Sri Lankan Rupee (SLR), resulting in a sharp, and ...

The Saudi Kingdom has offered financial aid worth SR 225 million (approximately Rs. 7.6 billion) for the upgrading of road networks in Sri Lanka. The draft agreement for the financial assistance was finalized in Riyadh on Monday during a meeting between the Vice Chairman of the Saudi Fund For Development (SFD) Yusuf Al-Bassam and Dr. ...

Performance has always been a buzz word in business circles. This time of the year is the typical time for a wave of performance appraisals, particularly in organisations where the appraisals are linked to the calendar year. There is a strong link between performance and perceptions. Today’s column will discuss the what, how and why ...

Peninsula, DOHA:  The Sri Lankan rupee which has been fast tumbling against the dollar is expected to recover soon, and might actually begin appreciating, says Sri Lanka’s Central Bank Governor Ajith Nivard Cabraal. The official said that the rupee now ruling at 120 a dollar will start

(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...

The Central Bank of Sri Lanka recently unveiled its pioneering Sixth Strategic Plan – communicating in all transparency its plans for the forthcoming financial period – based on the theme ‘Raising the Bar’. The Sixth Strategic Plan, like its predecessors, takes root from the policy measures underscored in the ‘Mahinda Chinthana,’ and is formulated to ...

The Standard Chartered Bank (SCB) has opined the Central Bank’s forecast of $ 25 billion foreign inflow as “optimistic” given external headwinds whilst cautioning that pressure was mounting on the rupee given the rising import demand. This view along with weaker GDP forecast is contained in SCB's latest country update titled 'A challenging year ahead' ...

RAM Ratings Lanka has reaffirmed Tokyo Cement Company (Lanka) PLC’s long- and short-term corporate credit ratings of A and P2 respectively. The long term rating carries a stable outlook. The ratings are supported by its sizable market share, its healthy balance sheet, and the healthy debt coverage levels. The above positives are, however, moderated by ...

In a major indictment on the country’s macro stability and a wakeup call to policy makers, Fitch Ratings yesterday warned that Sri Lanka has now become one of the four highest-risk financial systems in Asia Pacific and nine in the world. The warning on and labelling of Sri Lanka comes ahead of Christmas and could ...

Quick take on 2012 Budget by IIFL Securities Ceylon The 2012 Budget was relatively uneventful. It could be viewed as building on the significant tax reforms brought in by its predecessor whilst focusing on long-term infrastructure-led development and fiscal consolidation. The Government envisaging a fiscal deficit target of 6.2% of GDP for 2012 is a ...

The premier private sector lobby Ceylon Chamber of Commerce (CCC) yesterday welcomed the 2012 Budget and emphasised that it looked forward to working with the Government with regard to implementation. The chamber issued a statement yesterday after a careful study of the proposals in Budget 2012 presented by President and Finance Minister Mahinda Rajapaksa on ...

Research issue Sri Lanka’s growth cannot be examined in isolation. This is because its economy is intricately interwoven to its neighbours and other countries through commercial, political and cultural links. The sustainability of any growth strategy adopted by the country will depend on the stability of different partnerships and the ability of the country to ...

Arrenga Capital Research takes a deeper look at Budget 2012 and impact on select listed companies 1. A challenging deficit target – 6.2% of GDP in 2012 I. Government revenue targeted to grow by 20.2% YoY to Rs. 1,126.1 b (14.7% of GDP) II. Total Government expenditure to rise 14.1% YoY to Rs. 1,594.9 b ...

By Marianne David, Dinali Goonewardene, Cheranka Mendis, Cassandra Mascarenhas, Devin Jayasundera and Chamitha Kuruppu Brandix CEO Ashroff Omar Overall, we are glad that all that we had asked for, having worked with the Treasury before the Budget, has come in. There are slight tweaks from our proposals to what has been given, but overall we ...

MP charges that Government is focusing only on physical infrastructure and adopting a top-down development approach instead of a more inclusive and participatory humane political futureUnited National Party Parliamentarian Eran Wickramaratne asserts that the Government is depleting the resources of the municipality on an election extravaganza. In a candid interview with the Daily FT, the ...

By Simon Montlake Forbes.com: On my first trip back to Sri Lanka since February 2010, I noticed plenty of positive changes. New construction, cleaner streets and a lighter security presence (a bloody civil war ended in May 2009). The IMF predicts Sri Lanka’s economy will expand this year by 7.5%, keeping pace with next-door giant ...

By Dinali Goonewardena A COMMON currency between the Maldives and Sri Lanka has not been discussed by the Sri Lankan Authorities, a Central Bank official said yesterday. There were reports over the weekend that the Maldivian President was seeking a common currency between the two countries. “A lot of institutional infrastructure is required to enable ...