Fitch Ratings Downgrades Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating to ‘C’
Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘CC’ following the Government’s decision to suspend debt servicing of several categories of its external…
No Stock Market Operations this week
The Colombo Stock Exchange (CSE) will not be operating on 11th and 12th April with the Government having declared special public holidays. It would mean that the stock market will…
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…
As ‘economic catastrophe’ looms, private sector demands immediate action from policymakers
23 industry associations, representing private sector firms engaged in export, import andlogistics industries warned of catastrophic consequences for Sri Lanka’s economy and the people if the ongoing economic and political…
Sri Lanka’s economic growth to slow down to 2.4% this year – ADB
Asian Development Bank (ADB) projects Sri Lanka’s economic growth to slowdown to 2.4% this year and to pick up slightly to 2.5% in 2023. “The outlook is clouded by Sri…
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.…
Ceylon tea Industry in crisis over power cuts and fuel shortages
The Colombo Tea Traders’ Association (CTTA), the apex private sector body comprising ofall Stakeholders namely Growers, Manufacturers, Brokers, and Buyers/Exporters warn of dire consequences if the current fuel and power…
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…