New Investor to soon acquire Breadtalk’s Sri Lankan franchisee
RIL Properties PLC is progressing with negotiations with a potential investor to dispose of its entire stake in FoodBuzz (Private) Limited which owns franchise rights of BreadTalk in Sri Lanka. The…
Bangladesh Offers $500M Lifeline to Sri Lanka ahead of $1B Dollar Bond Maturity
In a first for Bangladesh, the country has extended a lifeline of sorts to the beleaguered Sri Lankan economy, offering to top up the island nation’s depleting foreign reserves by…
Sri Lanka’s Banking Sector’s MSME Lending Portfolio Among Weakest in Asia-Pacific
Despite much hype, Sri Lanka’s banking sector’s to Micro, Small and Medium-sized Enterprises (MSMEs) lending portofolio is one of the poorest in the Asia-Pacific region in terms of loan disbursements…
Sri Lanka Signs $500M emergency loan agreement with China as rupee hits record low
Sri Lanka secured a US$500 million loan from China Monday (Apr 12) in a desperate bid to shore up its foreign exchange reserves as the local currency hit a record…
Sri Lanka’s discussions for emergency financial support with IMF failed due to disagreements over policy requirements
The International Monetary Fund (IMF) couldn’t proceed with disbursing emergency financial support for Sri Lanka as the discussions failed due to disagreements over policy requirements on debt sustainability to address…
China approves $1.5 billion currency swap with Sri Lanka
(Reuters) – China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a government spokesman in Colombo said on Wednesday. The deal will allow the island…
Sri Lanka CB says controlling foreign debt will ‘no doubt’ require some austerity
(Reuters) : Sri Lanka’s central bank governor said on Wednesday lowering the country’s reliance on foreign debt will require some austerity, as Colombo attempts to shore up confidence in its…
Bandwagoning with China: Geopolitics of a container terminal in Sri Lanka
By Asanga Abeyagoonasekera It is rather unusual for trade union leaders to speak geopolitics. “Geopolitics should not be a determinant factor for us to lease our own East Container Terminal…
Latest $200 million SLDB issuance undersubscribed
The latest $200 million issuance of Sri Lanka Development Bonds (SLDBs) closed undersubscribed on Tuesday with only bids received amounting to $62.64 million, the Central Bank (CB) data showed. The…
Central Bank to wind up ETI Finance through Courts
The Monetary Board of the Central Bank (CB) has decided to cause the Director, Supervision of Non-Bank Financial Institutions to make an application to a competent court for the winding…