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 […]

Five people belonging to a family in Killinochi district reached the Indian waters at Dhanuskodi first islet at around 5 a.m. on Thursday, said a news report by The Hindu.The Hindu report filed from Rameswaram said: With this, the total number of refugees camping at the Special Camp in Mandapam stands at 214. Apart from […]

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

ECONOMYNEXT –Overall selling prices of apartments in Sri Lanka increased by 45.17 percent when compared to June 2021, according LankaPropertyWeb’s housing price index.Devaluation of the Sri Lankan rupee against the US dollar which has resulted in shortages of raw materials for construction

The website also recorded a surge in search traffic from countries such as the UK, Australia, US, Canada and UAE.

Interest on several International Sovereign Bonds have been missed.

[…]The post The ACF Commission: To Exorcise Ghosts Of Truth That Continued To Haunt Regardless  appeared first on Colombo Telegraph.

A guidance peg announced by Sri Lanka’s central bank for interbank transactions weakened by 14 cents to 360.94 rupees

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

Has government securities

[…]The post Impunity In Times Of Uncertainty appeared first on Colombo Telegraph.

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

Abans Finance, AMW Capital Leasing and Finance and Richard Pieris Finance Limited on Rating

Senior creditors, central bank obligations to be serviced

Sri Lankan rupee has appreciated to Rs.365 against the US Dollar today (May 13) when compared with yesterday's (May 12) selling rate of Rs. 380, in several licensed commercial banks.The post Sri...Click on the headline to read the full story

Several licensed commercial banks have today announced their selling rate of the US Dollar as Rs. 365.