Category: Economy and Markets
Sri Lanka’s July 2024 Exports Surge to USD1 Bn, Marking a 6.58-pct Year-on-Year Increase
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in July 2024 amounted to US$ 1,087.6 million, recorded an increase of 6.58 % compared to the month of July 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Coconut based products, […]
”; Outlook Stable
Fitch Ratings has affirmed Sri Lankan conglomerate Hayleys PLC’s National Long-Term Rating of ‘AAA(lka)’. The Outlook is Stable. Fitch has also affirmed the company’s outstanding LKR3 billion senior unsecured debentures. Hayleys’ rating reflects its large operating scale and diversification across several prominent businesses. Its significant export earnings drive sustainable operating cash flow, despite temporary challenges […]
SEC Amends Entry Requirements for Capital Market Professionals
CCM program, is the only pathway to obtain the Registered Investment Advisor Qualification Currently there are approx. 500 active Investment advisors in the Capital Market There is a pressing need to increase the number of Investment Advisors In a move aimed at enhancing professional standards and increasing accessibility in the capital market industry, the Securities […]
”s “real” agenda
In the latest series of the RIUNIT podcast hosted by Roshan Madawela, distinguished economists Prof. Howard Nicholas and Prof. Jayati Ghosh, delve deeply into the rapidly changing economic and geopolitical environment, examining both local and global economic orders. By questioning popular narratives, they provide insightful analysis and perspectives on the complex forces shaping our world […]
Elevating Market Integrity by Ensuring Secure & Transparent Trading Practices at CSE
Nilupa Perera, Senior Vice President of the Broker Supervision and Listed Entity Compliance Divisions at the Colombo Stock Exchange (CSE), provides an in-depth look at the critical roles her divisions play in maintaining market integrity and fostering good corporate governance. What is the role of the Broker Supervision Division at the CSE? The Broker Supervision […]
Advocata calls for urgent reforms to address inefficiencies plaguing Sri Lanka’s SOEs
The Advocata Institute launched its latest report, “Getting the State Out of Business: The Compelling Case for Privatisation of State-Owned Businesses,” which featured a high-profile panel discussion, calling for urgent reforms to address the inefficiencies plaguing Sri Lanka’s state-owned enterprises (SOEs). The event featured a keynote address by Mr. Suresh Shah, Director General of the […]
CSE Hosts Forum to Raise Awareness on Alternative Investment Avenues
The Colombo Stock Exchange (CSE) hosted a special awareness session titled “Creating Opportunities for Wealth Creation and Diversification” recently at the Hilton, Colombo. The primary goal of the forum was to create awareness among investors about the range of alternative instruments available at the CSE, that could be considered alongside traditional equity investments, and how […]
CA Sri Lanka Facilitates a Deep Dive into IMF Tax Reforms and Their Implications
The International Monetary Fund (IMF) issued a comprehensive report following its second review of Sri Lanka’s Extended Fund Facility on 12 June 2024, which sparked lively debates among economists, policymakers and the general public, especially with regard to the revenue proposals. To facilitate a deeper understanding and gather diverse perspectives, a discussion forum was held […]
FIU enters into a MoU with Registrar General’s Department
Financial Intelligence Unit of Sri Lanka entered into a Memorandum of Understanding with the Registrar General of the Registrar General’s Department The Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Registrar General of the Registrar General’s Department on August 06, 2024, at the Central Bank of Sri […]
Teejay knits resilient start to 2024-25 with profit turnaround in Q1
Strategic responses to challenges facing the textile manufacturing industry have generated a positive start to 2024-25 for Teejay Lanka PLC, Sri Lanka’s first multinational textile manufacturer. The Group has reported profit before tax of Rs 273.7 million for the three months ending 30 th June 2024, reversing a loss of Rs 701 million in the […]
ADB approves USD100Mn policy-based loan support for power sector reforms in Sri Lanka
The Asian Development Bank (ADB) and the Government of Sri Lanka signed a loan agreement for US$100 million on Monday (5 August 2024) for subprogram 1 of a policy-based loan (PBL) to support and facilitate reforms aimed at enhancing the financial sustainability of the power sector in Sri Lanka. This loan is part of a broader […]
” Policy Document to Encourage Bipartisan Approach Towards Development
The Ceylon Chamber of Commerce launched its landmark policy document, ‘Vision 2030,’ designed to steer Sri Lanka towards sustainable and inclusive development by 2030. The inaugural copy of this comprehensive economic plan was presented to President Ranil Wickremesinghe. The document will also be distributed to political party leaders, the Central Bank Governor, and the Treasury […]