Sri Lankan shares jump as Expolanka, LOCL surge
Sri Lankan shares extended sharp gains for a second straight session on Thursday, as beaten-down heavyweight industrial and financial stocks surged. The CSE All-Share index closed 4.55% higher at 7,611.43.…
Sri Lanka begins talks with China on refinancing debt
(Reuters) – Sri Lanka has begun discussions with China about refinancing its debt, a cabinet spokesman said on Tuesday, as Colombo struggles with its worst financial crisis in decades. China…
COPE seeks CID to investigate officials’ claims on lost financial data of Building Materials Corporation due to software glitch
State-Owned Building Materials Corporation (BMC) has failed to prepare financial statements since 2016, Committee on Public Enterprises (COPE) revealed. This was revealed at the COPE meeting chaired by Prof. Charitha Herath…
Conrad Dias takes the helm at Sri Lanka’s largest NBFI, LOLC Finance
Conrad Dias, the previous Chief Executive Officer of LOLC Finance PLC assumed duties as the Non-Executive Chairman of LOLC Finance PLC. In alignment with the financial sector consolidation plan of…
Cash-strapped Sri Lanka hit by record inflation
(AFP) – Crisis-hit Sri Lanka’s inflation hit a record high for the sixth consecutive month, official data showed on Friday as the government asked the IMF for an urgent bailout. The…
The World Bank extends support to Sri Lanka
The World Bank on Tuesday expressed their support to Sri Lanka during a meeting with Finance Minister Ali Sabry in Washington DC, which was attended by the World Bank’s private…
Sri Lankan Economic Crisis Inflicted by Self-Serving Elite
By Anis Chowdhury and Jomo Kwame Sundaram Sri Lanka has just defaulted on its foreign debt for the very first time. Attributing its current predicament to a Chinese ‘debt-trap’ is a new Cold War…
India to provide crisis-hit Sri Lanka with an additional US$500 million for fuel
Sri Lanka’s continued fuel crisis has prompted India to extend another helping hand to the troubled island nation with an additional $500 million in financial aid. Sri Lanka’s foreign ministry…
SL Rupee depreciation continues
The Sri Lanka rupee has further depreciated against the US Dollar, the Central bank of Sri Lanka (CBSL) said. The rupee has depreciated by Rs. 5 against the Dollar in…
Sri Lanka’s Business Chambers urges the President to initiate immediate legislative action to repeal the 20th amendment
Concerned by the current political deadlock coupled with growing public unrest, Sri Lanka’s Joint Business Chambers led by the Ceylon Chamber of Commerce (CCC) urged President Gotabaya Rajapakse to immediately…