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Reuters: The Central Bank believes the rupee can strengthen to around 125 per US Dollar due to high foreign inflows into the economy, the Head of the country’s monetary authority said of Monday. Since April, the Central Bank and Finance Ministry have repeatedly said the rupee should stabilise at around 125 per dollar, given the ...
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
The Royal Bank of Scotland Group’s Head of Rating Advisory Raymond Woo had recently called on Economic Development Minister Basil Rajapaksa. “Sri Lanka was able to control the impact of internal and external crisis successfully due to the efficiency of the political, economic and administrative management of President Mahinda Rajapaksa,” Minister had told Woo. Minister ...
In mid February, the Ceylon Electricity Board (CEB) informed consumers of their intention to revise their electricity charges from the following month. The March electricity bill issued to the consumer by the meter-reader was based on previous rate. The April bill based on revised rates with the addition of fuel surcharge for March was sure ...
CB asks banks overnight for their forex commitments for Thursday and Friday; steps up bank visits Convenes meeting with treasury heads of banks; rupee crisis figures in monthly CB-bank CEOs meeting as well Dealers say no room for speculation given the very narrow net open positions; new rules apart from lack of dollars could be ...
With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...
High cost of living and festive seasons go hand in hand and the upcoming New Year looks set to becoming a particularly difficult one. With the Central Bank downgrading the economic forecast from eight per cent to 7.2 per cent and a rapidly depreciating rupee adding to increasing imports, the month of April, when consumerism ...
Tyranny of the international capital markets Dr. Indrajit Coomaraswamy, ex-Central Banker and International Civil Servant, did not mince words when he addressed the country’s exporters last week. The veteran economist, having made an assessment of the risks associated with Sri Lanka’s external sector crisis, warned that the country will have to grapple with “the tyranny ...
By Kusal Perera Groundviews.org: The media these few days, especially the English media, provides unusually high anti government coverage to the government’s latest move to push through a bill, classified as urgent. Titled “Revival of the Underperforming and Underutilised Assets Bill,” it sent many stories spinning round Colombo circles. More politically savvy circles talked abou...
Reuters: Sri Lanka’s stock market narrowly edged up on Monday from a seven-week low, ending four straight falls as investors snapped up battered shares though a liquidity shortage and global worries cooled sentiments, dealers said. The island nation’s main share index closed 0.02
By Austin Fernando In recent times there had been vast discussion on returning the displaced. The Lessons Learnt and Reconciliation Commission (LLRC), media, Diaspora, diplomatic inquiries- especially from India- led these dialogues. When certain Tamil representatives gave evidence before the LLRC the internally displaced person’s (IDP’s) and refugees’ rights and plight became secondary ...
An Interview with SB Dissanayake by Chamitha Kuruppu Admitting the Government has launched a campaign to eliminate JVP-led student movements crippling the university system in the country, Minister of Higher Education S.B. Dissanayake points out such moves should not be...
By M.Sooriasegaram The proposed Nallur Hotel in Jaffna by the Mercantile Bank of Sri Lanka has sparked off a public debate. At a public consultative meeting organized by the Mayor of Jaffna several weeks ago, Minister Douglas Devananda, who chaired...
By Shamindra Ferdinando Prabhakaran’s successor, T. S. Pathmanathan or simply ‘KP’ as he is better known has thrown his weight behind Sri Lanka’s post-LTTE efforts to restore peace in the Northern and Eastern provinces....
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