Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
(Reuters) – Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to…
Ceylon Chamber Hosts Investment Promotion Meeting with Bangladesh’s EPZ Authority
With the nation of Bangladesh poised to become an economic powerhouse in the South Asian region,the Ceylon Chamber of Commerce hosted a meeting with a high-level delegation representing theBangladesh Export…
Sri Lanka doubles interest rates to check inflation; stabilize the economy
(Reuters) – Sri Lanka’s central bank on Friday doubled its key interest rates, an unprecedented 700 basis points each, to cushion the rise in inflation caused by a crippling shortage…
Fidelity among big Sri Lankan debt holders staring down risk
GLOBAL asset managers including Fidelity Investments and T Rowe Price Group could be staring down the risk of default in Sri Lanka in the face of a deepening economic crisis.…
Sri Lankan stocks slide by nearly 33%, world’s worst losers after Russia
(Bloomberg) : The boom in Sri Lanka’s stocks has turned to bust as a 33% slide renders the market the world’s worst performer this year after Russian equities. The slide in Sri…
Sri Lanka’s Central Bank delays Monetary Policy Announcement over political crisis
The Central Bank of Sri Lanka (CBSL) has delayed the announcement of the Monetary Policy Review decision which was scheduled for tomorrow with the resignation of the CBSL Governor, Ajith…
Sri Lankan shares post worst week ever amid power crisis
Sri Lanka shares had their worst weekly fall ever on Friday, having extended losses to a fifth straight session, with the Colombo Stock Exchange halting trade for a third consecutive…
Sri Lanka’s Central Bank suspends Money Changing permit issued to Prasanna Money Exchange
Considering the complaints received from general public that Prasanna Money Exchange (Pvt) Ltd is offering higher exchange rates, the Central Bank of Sri Lanka (CBSL) has temporarily suspended the permit…
Sri Lanka’s Exterminators become the first-ever pest control firm to be listed on a stock exchange in South Asia & developing world
Exterminators Limited created history yesterday, becoming the first-ever pest control firm to be listed on a stock exchange in South Asia & the developing and emerging world, the company announced.…
Plenty of fish but no catch as Sri Lanka economic crisis bites
(AFP) – The sky and seas off Sri Lanka’s coast are crystal blue but a worsening economic crisis has kept fishermen moored at Negombo harbour, out of gas and unable to…