IMF, World Bank and other DonorSupport: Should not be a pretext for avoiding economic reform The IMF tends to be the refuge of countries that have mismanaged their economic affairs. In this context, it is important to recall that Sri Lanka has had to obtain balance of payments support from the IMF on a number…
Australia, Indonesia and Malaysia are to trial a new method of tracking planes, almost a year after a Malaysia Airlines flight disappeared. Contact with flight MH370, carrying 239 people, was lost en route from Kuala Lumpur to Beijing. Despite an extensive search no trace has ever been found. The trial system enables planes to be…
Cabinet has approved a proposal submitted by Minister of Highways, Higher Education, and Investment Promotion Kabir Hashim to review the whole process of launching a mixed development project in the Slave Island area in Colombo 2 on an 08 acre land area with the objective of providing a better life standard to the people of…
Colombo bourse closed higher on Thursday after a choppy trading session. The index bounced back and forth across the unchanged line but managed to close at 7,317.44 with a gain of 12.83 points (+0.2%) while S&P SL 20 index gained merely 3.06 points (+0.1%) to close at 4,122.28. The choppy trading on the bourse reflects…
(Fitch) The operating environment for Sri Lankan banks is likely to improve in 2015 and 2016 with pressures on asset quality and the loans/deposits ratio diminishing and the potential for loan growth to pick up, says Fitch Ratings. However, longer-term challenges for the banking sector remain. Foreign-currency borrowing has been rising, and capital levels are…
The Special Envoy (Ministerial Rank) to India and South Asia on Infrastructure, Prime Minister’s Department, Government of Malaysia Dato’ Seri Utama S. Samy Vellu rang the ceremonial opening bell at the start of trading today (26th). Deputy Minister of Policy Planning and Economic Affairs Hon. (Dr.) Harsha De Silva and Chairman of the Securities and…
Colombo Stock Exchange (CSE) is to set up a ‘Central Counterparty System’ (CCP) as a measure to safeguard both the investors as well as the stockbrokers. This is being done for the first time in Sri Lanka, CSE Chairman Vajira Kulatilaka said this morning (26 February). The CCP is a fund which would safeguard both…
Bourse closed with mixed results on Wednesday amid increase in T-bill yields for the third consecutive week. All share index declined slightly by 6.68 index points (-0.09%) to end at 7,304.61 while S&P SL20 index marginally bagged 7.67 index points or 0.19% to end at 4,119.22. Price depreciations in Ceylon Tea Services (closed at LKR…
The Sri Lankan Rupee is not under any pressure, said Finance Minister Ravi Karunanayake at a media briefing at the ministry this morning (25 February) when the media asked him whether the local currency has depreciated recently and whether it is under pressure. “The Rupee is not under any pressure. But a certain section is…
What is wrong with a Buddhist monk being in a company’s Board of Directors, questioned Finance Minister Ravi Karunanayake at a media briefing at the ministry this morning (25 February). He was responding to a question from the media on the appointment of a Buddhist monk, Venerable Theeniyawala Palitha Thera to the Board of Directors…
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