Reuters – The Sri Lankan rupee slumped to a record low on Tuesday as escalating political turmoil sparked buying of U.S. dollars by importers. Stocks climbed for a third straight session to hit a nearly six-week closing high on retail investor buying, but foreign investors exited after President Maithripala Sirisena sacked the prime minister unexpectedly…
The Central Bank of Sri Lanka today released its half yearly publication – “Recent Economic Developments: Highlights of 2018 and Prospects for 2019”. A summary of the performance of the Sri Lankan economy in 2018 as reflected in this publication is given below: The Sri Lankan economy faced renewed challenges emanating from global market developments, which disrupted the…
Fitch Ratings-Hong Kong/Singapore-30 October 2018: The Sri Lankan president’s sudden replacement of the prime minister on 26 October highlights tensions within the coalition government and creates uncertainty over further progress on reform and fiscal consolidation, says Fitch Ratings. Prolonged political upheaval accompanied by deterioration of policy continuity could undermine investor confidence and make it more…
Piramal Glass Ceylon PLC has reported its results for the 1st half of the year FY 2018-19 with Rs. 3,586 million of Revenue and Rs. 38 million of Profit After Tax as against the similar period of the previous year which was Rs.3,082 million and PAT of Rs. 154 million. At half year the Company’s…
Shivani Hegde to move to Switzerland to lead food category development for Nestlé across Asia, Oceania and Africa; Fabrice Cavallin to take over Lankan operations Nestlé Lanka has announced that its Managing Director, Shivani Hegde, will be moving to Nestlé’s global headquarters in Switzerland to lead food category development for Asia, Oceania and Africa. Nestlé’s…
In 2017, total fish and fishery export amount of Sri Lanka was reported to be 24,827 mt (Metric Tonnes) with an export value of Rs 39. 2 billion whilst Ornamental Fish exports earned Rs 2.2 billion during the same period, the latest data outlines. Latest annual review of the Ministry of Fisheries and Aquatic Resources…
COLOMBO/MUMBAI (Reuters) – A decision by Sri Lanka’s president to fire the prime minister has raised doubts among global investors and credit analysts about the near-term economic health of a country already grappling with slow growth and a falling currency. Among key concerns for investors are Sri Lanka’s ability to repay its massive external debt…
Reuters – ** The Sri Lankan rupee slumped to a record low on Monday as growing political turmoil sparked buying of U.S. dollars by importers. Stocks hit a nearly six-week closing high on retail investor buying, but foreign investors exited after President Maithripala Sirisena sacked the prime minister unexpectedly and swore in the ex-president. **…
Ratings agency Moody’s has flagged concern over Sri Lanka’s policy uncertainty and future debt repayments after the shock sacking of the country’s prime minister. President Maithripala Sirisena on Friday replaced prime minister Ranil Wickremesinghe with Mahinda Rajapaksa, a controversial former president, in a sudden decision that plunged the country into political turmoil. Mr Wickremesinghe disputed the…
The undersigned, representing Chambers of Commerce are concerned that the current political uncertainty will result in many adverse consequences to the country, if it remains unresolved. We request the political authorities to resolve issues through the democratically established Institutions as early as possible. We appeal to the political Parties to ensure that law and order…
Video Story
