Sri Lanka to extend restriction order on forex outflows by 6 months
Dec 01, 2020 (LBO) – Sri Lanka’s cabinet of ministers has decided to extend the validity period of the order issued under the Foreign Exchange Act …
Forex
Asia Securities wealth management launches new money market fund
Asia Securities Wealth Management (Pvt) Ltd., the investment management arm of Asia Securities, launched the Asia Securities Money Market Fund today. Regulated …
Sovereign bond opportunity is “too good to miss” says new Chair of Ceylon Asset Management
The new Chairman of Ceylon Asset Management (CAM), Mr. Malaka Bandara highlighted “this is a rare opportunity to invest in SL Sovereign Bonds at discounted …
ICRA: Economy at a glance for 3Q 2020
Highlights 3Q 2020 was shaping up to be the turning point from the depths of economic contraction, but the fast escalation of second wave of Corona infections …
Sri Lanka trade deficit improves in Aug 2020
Oct 12, 2020 (LBO) – Sri Lanka’s trade deficit improved on a year-on-year basis with the deficit in the trade account in August 2020 narrowing to …
Sri Lanka and China discuss economic revival and COVID-19 assistance
Oct 11, 2020 (LBO) – As part of the Government’s sustained efforts at strengthening neighbourly relations, the Foreign Ministry facilitated on Friday …
Cabinet approves new orders for ‘Special Deposit Accounts’
Oct 07, 2020 (LBO) – The approval of the Cabinet of Ministers was granted at their meeting held in April 2020 for the issuance of orders under the …
Economists urge decisive action to prevent emerging Sri Lankan debt crisis
Oct 02, 2020 (LBO ) – A panel of eminent economists urged that the Government take credible and decisive action to prevent a painful debt crisis in Sri …
Probability for a rate cut to discourage LCBs from using SDFR facility: First Capital Research
Aug 19, 2020 (LBO) – First Capital Research (FCR) says that the Central Bank either can choose to hold policy rates steady or cut by 25 bps or 50 bps while a …
CEAT to develop local industry: Save Rs.11Bn in foreign exchange via import substitution
Aug 18, 2020 (LBO) – CEAT Kelani Holdings has announced that in response to the Government’s policies to develop domestic industry, it has stepped …
Sri Lanka gross official reserves rebound to USD 7.1bn in July
Aug 07, 2020 (LBO) – Sri Lanka’s gross official reserves have improved to 7,102.0 million US dollars by the end of July from 6,693.2 million dollars in …
Sri Lanka restricts outward remittances on capital transactions for six months
Jul 16, 2020 (LBO) – Sri Lanka’s Minister of Finance with the recommendation of the Monetary Board and the approval of the Cabinet have issued an order …
Federal Reserve’s USD 1bn Repo facility available to Sri Lanka
Jul 09, 2020 (LBO) – The Federal Reserve in the United States has opened a temporary repurchase agreement facility for foreign central banks including Sri …
Sri Lanka gross official reserves at USD 6.7Bn by end June
Jul 09, 2020 (LBO) – Sri Lanka’s gross official reserves stood at US dollars 6.7 billion by the end of June 2020, sufficient to cover 4.2 months of …
Fallout from Pandemic prompts an unprecedented rate cut: FCR
Jun 30, 2020 (LBO) – First Capital Research (FCR) believes that there is a higher likelihood of 90% that CBSL may provide a rate cut to ensure the continued …
100bps rate cut on the cards to push banks for lending: First Capital Research
Jun 19, 2020 (LBO) – First Capital Research allocates a policy rate cut expectation of 100bps bringing the SDFR and SLFR to 4.50% and 5.50%, respectively. …
Sri Lanka export earning drop 42.3-pct in Mar 2020
Jun 02, 2020 (LBO) – The deficit in the trade account narrowed in March 2020 to US dollars 549 million, from US dollars 592 million in March 2019, as the …
Sri Lanka seeks USD1.1bn special SWAP facility from India
May 24, 2020 (LBO) – President Gotabaya Rajapaksa yesterday asked Indian Prime Minister Narendra Modi to help Sri Lanka by providing a special SWAP facility …
Sri Lanka explores SWAP facilities with regional Central Banks
May 19, 2020 (LBO) – Sri Lanka is in the process of exploring SWAP facilities with regional central banks, while arrangements are also being made for …
Sri Lanka official reserves at USD 7.9Bn at end Feb 2020
May 18, 2020 (LBO) – Sri Lanka’s gross official reserves stood at 7.9 billion dollars at end February 2020, equivalent to 4.7 months of imports, …