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Tuesday, May 17, 2022

Sri Lanka’s headline inflation soars to 29.8% in April 2022

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Sri Lanka’s headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index increased to 29.8% in April...

Finance Minister says no choice but to raise sales tax

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Sri Lanka’s finance minister has told the BBC he has no choice but to hike the country’s sales tax as it faces...

Sri Lanka to suspend normal debt servicing

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The Secretary to the Ministry of Finance states that Sri Lanka will suspend normal debt servicing of all affected debts for an interim...

Sri Lanka seeking another US $ 250 Mn loan from Bangladesh

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Sri Lanka has sought another US$ 250 million currency swap from Bangladesh, News First reported today.  The request for...

CBSL increases SDFR & SLFR by 50 pts

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Economic activity is expected to record a gradual recovery following a temporary setback As per the data released...

SL foreign reserve increases

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The official forein reserves of Central Bank of Sri Lanka (CBSL) has reached about USD 3.1 billion, CBSL Governor Ajith Nivard Cabraal...

Fitch Ratings further downgrades Sri Lanka

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Fitch Ratings has downgraded Sri Lanka's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CC', from 'CCC'. Fitch typically does not assign Outlooks...

SL exporters required to convert residual into LKR

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Sri Lankan exporters are now required to convert, the residual (remaining balance of export proceeds received), into Sri Lanka Rupees, on or...

Fertilizer Fiasco: China blacklists People’s Bank

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China's Ministry of Commerce has announced that People's Banl has been blacklisted. The Ministry's website, lk.mofcom.gov.cn, published a 'L/C...

Facebook to change name?

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Facebook Inc (FB.O), under fire from regulators and lawmakers over its business practices, is planning to rebrand itself with a new name...