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Over 9,400 LCs opened for vehicles in one day after Sri Lanka imposed 50% surcharge: Official
EconomyNext 3 months ago
Over 9,400 LCs opened for vehicles in one day after Sri Lanka imposed 50% surcharge: Official

Government denies leaking information for two private firms to open 4,000 LCs. Claimed only 1,762 LC…

Sri Lanka’s John Keells CG Auto denies claims of vehicle import before surcharge
EconomyNext 3 months ago
Sri Lanka’s John Keells CG Auto denies claims of vehicle import before surcharge

"No Letters of Credit were established for BYD vehicles a day immediately prior to the relevant Gaze…

Sri Lanka opposition calls for debate on currency pressure
EconomyNext 3 months ago
Sri Lanka opposition calls for debate on currency pressure

"The rupee is under tremendous pressure. And we don’t have clear answers nor plans,"

Former minister asks Sri Lanka expats to send dollars through banks
EconomyNext 3 months ago
Former minister asks Sri Lanka expats to send dollars through banks

Urged against using undial

Sri Lanka stocks close up, capital goods push turnover
EconomyNext 3 months ago
Sri Lanka stocks close up, capital goods push turnover

Market turnover was 2.17 billion rupees.

Sri Lanka sells extra Rs100mn Treasury bills after auction
EconomyNext 3 months ago
Sri Lanka sells extra Rs100mn Treasury bills after auction

Bringing the total of bills sold this week to 67,337 million rupees.

Top APAC firms still attract investment, as Sri Lanka sees FX reserves drop: Fitch
EconomyNext 3 months ago
Top APAC firms still attract investment, as Sri Lanka sees FX reserves drop: Fitch

Sri Lanka’s FX reserves fell by 7%, and is facing currency pressure

Fitch downgrades Sri Lanka NITF’s IFS to ‘BBB-(lka); Rating watch negative
EconomyNext 3 months ago
Fitch downgrades Sri Lanka NITF’s IFS to ‘BBB-(lka); Rating watch negative

Fitch has subsequently withdrawn the rating.

Sri Lanka rupee spot at 343 to US dollar, bond yields recover
EconomyNext 3 months ago
Sri Lanka rupee spot at 343 to US dollar, bond yields recover

Bond yields were quoted and traded lower.

Sri Lanka stocks trend up, JKH pushes turnover
EconomyNext 3 months ago
Sri Lanka stocks trend up, JKH pushes turnover

Market turnover was 807 million rupees.

Amid sharp rupee fall, IMF mission chief backs Sri Lanka to adjust for “evolving conditions”
EconomyNext 3 months ago
Amid sharp rupee fall, IMF mission chief backs Sri Lanka to adjust for “evolving conditions”

IMF Board expected to approve for US$700mn worth two disbursements under Extended Fund Facility on M…

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EconomyNext 3 months ago
Sri Lanka should start to negotiate new IMF deal now: Opposition Leader

Sri Lanka's rupee has depreciated sharply since last week