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 […]

During the year 2022, the Sri Lankan Rupee depreciated against the US Dollar by nearly 45%, the Central Bank of Sri Lanka (CBSL) reported.

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.

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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

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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

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

Senior creditors, central bank obligations to be serviced