All Blogs
Sri Lankan mutual funds’ outflows rise amid economic turmoil: Fitch
The Sri Lankan mutual fund industry experienced large outflows in March 2022 with total assets under management (AUM) shrinking by more than 8% to LKR178 billion (around USD0.5 billion), based on Unit Trust Association of Sri Lanka (UTA) data, Fitch Ratings says in a new report. The country’s economic and social instability may have driven […]
ComBank Group navigates devaluation impact in complex Q1 performance
Total assets cross Rs 2 Tn., first private sector bank to achieve the milestone Mainly influenced by Rupee devaluation, loan book grows by Rs 133 Bn., deposits by Rs 234 Bn. in 3 months 3-month net operating income up 66% to Rs 28.3 Bn. Posts other operating income of Rs 11.3 Bn. primarily from realized […]
Ranil Rally – stocks up another 5%
May 13, 2022 (LBO) – Sri Lanka’s main stock market indices continued their surge finishing the day up another 4-5%. This comes on the back of yesterdays 3-4% gains on speculation that Ranil Wickremesinghe would be sworn in as Prime Minister for the 6th time. As Wickremesinghe assumed duties at the Prime Ministers Office today, […]
MR and 16 others get overseas travel ban
The Colombo Fort Magistrate’s Court has imposed an overseas travel ban on Former Prime Minister Mahinda Rajapaksa and 16 others. The list includes – Johnston Fernando Pavithra Wanniarachchi Mahinda Rajapaksha Sanjeeva EdirimanaKanchana Jayaratne Rohitha Abeygoonewardene C B Ratnayake Sampath Atukorale Renuka Perera Namal Rajapaksha Sanath NishanthaNishantha Jayasinghe Amith Abeywickrema Pushpalal Mahinda KahandagamaDilith Fernando Deshabandu Tennekoon The order was issued by the Colombo Fort Magistrate’s Court in relation to the […]
Sri Lanka’s trade deficit widens in Feb 2022 despite above USD 1Bn of export earnings
The momentum of export earnings continued with over US dollars 1.0 billion for the ninth consecutive month in February 2022. Meanwhile, import expenditure also increased substantially in February 2022, year-on-year, while recording a decline, compared to the previous month. The trade deficit widened, compared to year before. Tourist arrivals showed a notable recovery in February […]
Ranil Wickremesinghe takes oath as Prime Minister of Sri Lanka
The Leader of the United National Party (UNP), Ranil Wickremesinghe was sworn in as the new Prime Minister of Sri Lanka. Wickremesinghe took the oath before President Gotabaya Rajapaksa at the President’s House. Wickremesinghe has previously served as the Prime Minister on five occasions. Secretary to the President Gamini Senarath and Maithree Wickremesinghe were also […]
Ranil sparks stock market Rebound
May 12, 2022 (LBO) – The main stock market indices in Sri Lanka surged on Thursday, the first day of trading following a market shut down due to curfews resulting from political violence throughout the country. The main indices finished up in-between 3-4% on light volume of Rs1.2bn (US$3mn). Due to the political violence and […]
Serious concerns of current crisis as outlined by Sri Lanka Shippers’ Council
The Sri Lanka Shippers’ Council expresses its grave concern at the violence unleashed on peaceful protestors in Colombo on 9th May 2022. While recognizing the right for peaceful protest, we condemn all forms of violence which took place on 9th May 2022 and reiterate that it should be dealt with by the law of the […]
“I will resign if political stability is not achieved soon” CB Governor
Sri Lanka’s Central Bank Governor Nandalal Weerasinghe says without political stability in the island, the bank’s steps towards the revival of the nation’s economy would not be successful. Speaking to the media a short while ago in Colombo he said he would resign if political parties do not ensure stability in the next two weeks. […]
Secretaries appointed to Ministries of Defence, Public Security and Finance
Three Secretaries have been appointed to the Ministries of Defence, Public Security and Finance from yesterday (10) to ensure the normalcy of the livelihood of the people, in accordance with the powers vested in the President.Accordingly, the secretaries who served in these three Ministries;01. Ministry of Defence – Retired General Kamal Gunaratne 02. Ministry of […]