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[…]The post Unraveling The Root Causes Of Sri Lanka’s Foreign Currency Crisis appeared first on Colombo Telegraph.
- Debt Restructuring, Austerity, & The IMF: A Solution Or A Worsening Of The Problem? (Category: Breaking News)
- President RW Emphasizes He Has Not Deviated From The Principles Of The Democratic Socialist System (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? (Category: Breaking News)
- From Socialism To Success: Sweden’s Economic Evolution (Category: Breaking News)
As a collective body of exporters, we have been at the forefront of sustaining employment and ensuring a steady flow of foreign exchange, even amidst the most severe economic downturns faced by our nation. Our membership covers the majority of merchandise exports, which account for some 13% of Sri Lanka’s GDP. Today, we stand united […]
- ‘Recognizing, Inspiring and Strengthening’ SL’s exporters (Category: Breaking News)
- Brandix excels at export awards (Category: Breaking News)
- Dollars and conscience (Category: Breaking News)
- Why record export earnings may not be good news (Category: Breaking News)
[…]The post Why The Sri Lankan Rupee Is Appreciating appeared first on Colombo Telegraph.
- Journey Through The Rotten Bridge For The Reforms Of Government Expenditure (Category: Breaking News)
- Who Are Primarily Responsible For The Economic Disaster, The Politicians Or The People? (Category: Breaking News)
- The Impact Of The Next Election On The Economic Reforms (Category: Breaking News)
- Sri Lanka In Dire Straits (Category: Breaking News)
Sri Lanka's President, Ranil Wickremesinghe, asserted that the nation’s economy is experiencing robust growth due to the government’s initiatives.The post Sri Lanka’s President says Government initiatives drive robust economic growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka President Ranil delivers Government’s policy statement in Parliament (Category: Breaking News)
- Sri Lanka expects 1.8% Economic growth in 2024 (Category: Breaking News)
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 (Category: Breaking News)
- President blames Sajith for crisis (Category: Breaking News)
Sri Lanka’s Supreme Court today (November 14) ruled that former President Gotabaya Rajapaksa, former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa and several others are responsible for the economic crisis in Sri Lanka due to mismanaging the economy between 2019 and 2022.The post Supreme Court ruled Gotabaya, Mahinda, Basil & others responsible for economic cris...
- Gotabaya, Mahinda, Basil others responsible for economic crisis - SC rules (Category: Breaking News)
- Supreme Court extends travel ban on Mahinda Rajapaksa and Basil Rajapaksa (Category: Breaking News)
- Supreme Court finds Rajapaksa brothers guilty over economic crisis (Category: Breaking News)
- Supreme Court grants leave to proceed with two petitions filed over economic crisis (Category: Breaking News)
Sri Lanka stood pat on borrowing costs for the first time in three meetings, after slashing the cash ratio for banks to bolster domestic liquidity and growth.The post Sri Lanka Holds Rates After Bank Cash Ratio Cut for Growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Central Bank of Sri Lanka issues order slashing interest rates on lending products (Category: Breaking News)
- Sri Lanka Central Bank cuts statutory reserve ratio by 200 bps (Category: Breaking News)
- Central Bank of Sri Lanka maintains Policy Rates to support Economic Recovery (Category: Breaking News)
- Sri Lankan Rupee appreciates further against U.S. Dollar (Category: Breaking News)
Summarised below are the key operational and financial highlights of our performance during the quarter under review: Group PBT at Rs.1.40 billion in the first quarter of the financial year 2023/24 is a decrease over the Rs.14.80 billion recorded in the previous financial year. The first quarter of the previous year included Rs.10.12 billion of […]
- JKH records EBITDA growth of 9% to Rs.10.41 billion in Q3 (Category: Breaking News)
- Dialog rings steady results (Category: Business)
- ComBank stays on growth trajectory in 2023 with notable Q4 performance (Category: Breaking News)
- Dialog dials top line growth in 2Q; forex losses cut profit (Category: Business)
Sri Lanka must ensure access to adequate nutrition for all pregnant and breastfeeding women amid the ongoing economic crisis in the country, Amnesty International said today in a new research briefing. The briefing, ‘Foregoing Meals to Make-Do’, examines the impact of the economic crisis on access to nutrition for pregnant and breastfeeding women, with a […]
- Ensure adequate nutrition for pregnant, breastfeeding women- Amnesty urges SL govt (Category: Breaking News)
- Australia to provide additional $25 million to help Sri Lanka (Category: Breaking News)
- Japan to provide essential medicines to Sri Lanka through UNICEF (Category: Breaking News)
- Japan contributes additional US$ 6.6 million to help Sri Lanka (Category: Breaking News)
Fitch Ratings has downgraded Sri Lanka's Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to 'C' from 'CC'. The issue ratings on local-currency bonds have also been downgraded to 'C' from 'CC'.The post Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘C’ appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
- Fitch downgrades Sri Lanka (Category: Breaking News)
- Fitch Downgrades Sri Lanka s Long-Term Local-Currency IDR to C (Category: Breaking News)
- Fitch downgrades SL’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
Fitch Ratings has warned of risks in Sri Lanka’s domestic debt restructuring plan but noted that it resolves uncertainties around its impact on the local banking sector. The Sri Lankan Government’s proposal for treatment of domestic debt marks a significant step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local […]
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
- Fitch Ratings warns of risks from political instability in Sri Lanka (Category: Breaking News)
- Fitch affirms rating on 15 Sri Lankan Banks – Removes Watch Negative (Category: Breaking News)
- Fitch warns Sri Lankan corporates at risk (Category: Breaking News)
ECONOMYNEXT –Sri Lanka’s personal income tax hikes have hit economic activity in the first quarter though despite currency stability helped businesses cut prices, Hemas Holdings, a top consumer goods group has said.As the currency stabilized, as central bank ended contradictory money and exchange policy conflicts, businesses had cut prices. Mainstream economists generally claim that price […...
- Rupee appreciation alone not indicative of economic stabilisation – economist (Category: Breaking News)
- Sajith claims VAT hike will shrink economy (Category: Breaking News)
- Tax payers look to tighten belts further or migrate as progressive taxes bite (Category: Breaking News)
- CBSL Governor upbeat about being on right track, but urges govt. to do more to protect low-incom... (Category: Breaking News)
By Hema Senanayake hemasenanayake@yahoo.com IMF has an ideology, a system of ideas and ideals which forms the basis of its decisions and policy prescriptions for which the recipient country of the loan claims as of its own. The most important idea does not originate from economic theory but international trade theories instead. The Great Recession […]
- Flexible Rate (Category: Business)
- RW says great power rivalries and geopolitics emerging threat to Third World (Category: Breaking News)
- Steve Hanke on currency boards and flawed pegs amid Sri Lanka meltdown (Category: Breaking News)
- Reactions (Category: Business)
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.The post Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Sri Lanka looks to adventure travel to attract quality tourists and help rebuild economy (Category: Breaking News)
- Sri Lanka approves visa-free entry for tourists from 07 countries (Category: Breaking News)
- Driving Adventure (Category: Business)
- Sri Lanka Tourism ready for tourists (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 Taxes, Swiss Bank Accounts & The Chinese Cafe appeared first on Colombo Telegraph.
- Playing The Fiddle While The Country Burns! (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
- Ranil’s Budget Crisis & Ibn Khaldun (Category: Breaking News)
- Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? (Category: Breaking News)
Hope springs eternal in the human breast, it is said, but if the breast is of a national-minded Sri Lankan, hope cannot rise; it is stifled by fear, worry, frustration and stark disappointment. Government persons are flapping their upper limbs and crowing about improvement in the economy; nothing much for us Ordinaries to experience or […]
- Cass County sheriff's office investigates latest ATM theft (Category: USA, North Dakota)
- Cass County sheriff's office investigates latest ATM theft (Category: USA, North Dakota)
- Cass County sheriff's office investigates latest ATM theft (Category: USA, North Dakota)
- Cass County sheriff's office investigates latest ATM theft (Category: USA, North Dakota)
Several private fertiliser companies have decided to reduce the price of a 50kg Urea fertiliser bag by Rs. 7,500, Minister of Agriculture Mahinda Amaraweera said.The post Urea fertiliser prices to be reduced appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- 100,000 MT of urea fertiliser to be imported for Maha Season (Category: Breaking News)
- Japan grants 8,360 Metric Tonnes of fertiliser to support paddy farmers in Sri Lanka (Category: Breaking News)
- Multi-sector combined mechanism launched to ensure food security and nutrition in Sri Lanka (Category: Breaking News)
- United States provides 9,300 tonnes of urea fertilizer to paddy farmers in Sri Lanka (Category: Breaking News)
The loan received from the International Monetary Fund (IMF) and the stability of the Sri Lankan Rupee will help reduce electricity tariffs. State Minister of Power and Energy Indika Anuruddha Herath said that market conditions forced the Government to increase tariffs. He said that with the IMF
- Strong objections to moves to increase CEB tariffs (Category: Breaking News)
- Electricity tariffs to be revised in January (Category: Breaking News)
- CEB electricity tariff proposal to be expedited (Category: Breaking News)
- CEB loss for 2023 estimated at Rs. 33 billion (Category: Breaking News)
Around USD 500 million entered the market within a period of seven days, the Governor of the Central Bank of Sri Lanka, Nandalal Weerasinghe said.The post USD 500 million entered the market in seven days – CBSL Governor appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lanka’s Central Bank Governor asks critics to provide alternatives (Category: Breaking News)
- Sri Lanka has no alternative other than IMF – CBSL chief (Category: Breaking News)
- Economic situation will worsen if political stability is not established soon  CBSL chief (Category: Breaking News)
- Dr. Nandalal Weerasinghe re-appointed CBSL Governor for 6-year term (Category: Breaking News)
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 s rupee will reverse gains and plummet 20%, Fitch says (Category: Breaking News)
- Rupee weakens against USD (Category: Breaking News)
- Notable appreciation of rupee against major currencies (Category: Breaking News)
- Fitch places seven Sri Lankan insurers on Rating Watch Negative (Category: Breaking News)
Sri Lankan rupee appreciated yesterday (February 28) on improved sentiments over the current and future foreign exchange conditions in the domestic market after the announcement that International Finance Corporation (IFC) is willing to provide a US$ 400 million worth of swap facility
- Sri Lankan Rupee further depreciates against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee appreciates further against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee depreciates against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee appreciates against U.S. Dollar (Category: Breaking News)
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 […]
- SLT Group annual revenue surpasses Rs. 100 bn amid unprecedented challenges (Category: Breaking News)
- SLT Group stays resilient for Q3 overcoming external impacts (Category: Breaking News)
- SLT Group achieves stable revenues for Q1, remaining resilient despite challenges (Category: Breaking News)
- Aitken Spence records PBT of Rs. 8.5 billion for first half of 2022/23, with quadruple-digit gro... (Category: Breaking News)
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 […]
- SLT Group annual revenue surpasses Rs. 100 Bn again (Category: Breaking News)
- SLT Group stays resilient for Q3 overcoming external impacts (Category: Breaking News)
- SLT Group achieves stable revenues for Q1, remaining resilient despite challenges (Category: Breaking News)
- Aitken Spence records PBT of Rs. 8.5 billion for first half of 2022/23, with quadruple-digit gro... (Category: Breaking News)
[…]The post Accountability Issues & Human Rights Cannot Be Glossed Over appeared first on Colombo Telegraph.
- The need to strengthen national accountability mechanisms (Category: Breaking News)
- Time For Truth Come Out (Category: Breaking News)
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
- Government Needs To Commit To More Than Commissions (Category: Breaking News)
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 […]
- Accountability Issues & Human Rights Cannot Be Glossed Over (Category: Breaking News)
- Post-War Reconciliation Process: Human Rights violation (Category: Breaking News)
- Tamil diaspora call on more countries to sanction GR, MR (Category: Breaking News)
- A first indication of readiness to go on a new path (Category: Breaking News)
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 […]
- Sri Lanka gambles on tax hikes; downside risks seen than gains (Category: Breaking News)
- Sri Lanka expands state workers 11-pct under revenue based fiscal consolidation (Category: Breaking News)
- Death and taxes: inevitabilities of life (Category: Breaking News)
- Budget, Taxation Turmoil and Policy Blunders – Part II (Category: Breaking News)
[…]The post Sri Lanka’s Economic Crisis: Social Security In A Stake appeared first on Colombo Telegraph.
- The Police & Aragalaya Activists In A Time Of Social Upheaval (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
- Incorporating Human Security Doctrine For Sri Lanka’s Present Day Context (Category: Breaking News)
- Can Sri Lanka Come Out Of Its ‘Deer In The Headlights’ Mindset? (Category: Breaking News)
At least 5.7 million people (26% of the population) in Sri Lanka require humanitarian assistance at the moment, the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) says.The post At least 5.7 Million people in Sri Lanka require humanitarian assistance – UN agency appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- At least 5.7 Mn people in Sri Lanka require humanitarian assistance- UN agency (Category: Breaking News)
- UNFPA appeals for over 10 million dollars to assist Sri Lanka’s vulnerable women (Category: Breaking News)
- UN official to highlight Sri Lanka’s humanitarian needs during upcoming visit (Category: Breaking News)
- Australia to provide 25 mn USD in additional emergency aid to Sri Lanka (Category: Breaking News)
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 […]
- Gotabaya, Mahinda, Basil and 36 others to face legal action? (Category: Breaking News)
- Sri Lanka’s top court allows case against ex-president, top officials over currency crisis (Category: Breaking News)
- Sumanthiran: Rajapaksas have enough money to compensate 22 million Sri Lankans (Category: Breaking News)
- SC rules that Rajapaksas, Monetary Board responsible for current economic crisis (Category: Breaking News)
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...
- Supreme Court grants leave to proceed against GR, MR, Basil and other VIPs (Category: Breaking News)
- Economic crisis: Patali calls for punitive action against errant politicians, officials (Category: Breaking News)
- Sumanthiran: Rajapaksas have enough money to compensate 22 million Sri Lankans (Category: Breaking News)
- Sri Lanka’s top court allows case against ex-president, top officials over currency crisis (Category: Breaking News)
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