Business confidence strengthens for a second month but the horizon remains overcast Sri Lanka faces a tight deadline to finalise agreements with creditors including bondholders to coincide with the anticipated disbursement of the third tranche of the IMF’s Extended Fund Facility (EFF). The next instalment of US$ 337 million is scheduled for June, following the…
Uma- Oya multipurpose project commenced paying back. Political sources note JVP leader AKD being a pioneer to propose development with waters of Uma Oya but when Mahinda walked the talk with the Iranians, those who only talk weren’t happy (ref media). Since SL wasn’t a democracy even under the British, implementing projects for the good…
State of the Budget Report estimates 14% shortfall in revenue against budget projection Sri Lanka is projected to fall short of its budget target on revenue to GDP (gross domestic product) for the 33rd consecutive year in 2024, according to the recently released ‘State of the Budget Report 2024’. The State of the Budget Report…
While SL was still a British colony legendary Sri Lankan Engineer T.S. Jinasena (of Jinasena Engineering est. 1905) assembled the first ever racing car in SL (The Magpie) & became the first Sri Lankan to set a record at the ‘Mahagasthota’ Hill Climb (1939). With support from his sons Nihal, Rohan, Ranjith & Tissa he…
Fitch Ratings – Positive US data in 1Q24 have helped to improve Fitch Ratings’ full-year global economic outlook, but have also raised the prospects of a ‘no-landing’ scenario and heightened interest rate uncertainty. In addition, key risks to global credit from commercial property, geopolitics and China’s real estate market remain, which we highlight in a…
Chinese Leader Xi Jinping last week met fellow Chinese Ma Ying-jeou. During the meeting President Xi expressed grief over the loss of lives in the earthquake in Hualien & extended his sympathies to the fellow Chinese affected. He spoke of the 5000 year history of the Great Chinese Empire & the historic bonds between the…
The Chairman of the Colombo Stock Exchange (CSE) discusses the opportunities for capital raising and Stock Market Outlook for 2024. Give us an overview of the current market landscape and discuss the CSE’s overall outlook for the year 2024. We believe the overall outlook of the CSE, for the year 2024 to be a positive…
By Prof. Samitha Hettige Some Sinhalese & Tamils will celebrate the Sinhala – Hindu NY showcasing the historic bond in the weekend while a minority is struggling to continue the dispute using ‘Kurundi’ lands. The ‘Kurundi’ monastery constructed in the 1st century BC is considered sacred as the Buddha had visited the site during his…
The cost of assorting a traditional “kevili” table for the Sinhala and Tamil New Year has gone down in 2024 compared to 2023 but remains more than twice as high as it was in 2019. The cost of ingredients in 2024 is 2% less than it was in 2023. In 2023 the costs had increased…
Business confidence gathers steam following a prolonged period of stagnation Sri Lanka initiated the second review under the IMF’s Extended Fund Facility (EFF) framework, signifying a crucial step forward in ongoing efforts to foster economic growth – and the authorities remain optimistic about concluding the review successfully and securing a staff-level agreement, which would facilitate…
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