CPC daily revenue reduced by over 60% in March
Ceylon Petroleum Corporation (CPC) has had a high percentage of its daily revenue cut due to the air and ground travel restrictions brought about by the Covid-19 pandemic. Read More »
EDB submits two recommendations to President for export sector survival
The Export Development Board (EDB) last week requested the President to extend the six-month debt moratorium to cover all export sectors and also to provide working capital facilities for businesses. Read More »
Foreigners sell Sri Lankan bonds worth Rs. 28 b in 20 days
Foreign investors have pulled out a whopping Rs. 28.12 billion worth of investments from Sri Lanka’s Treasury bills and bonds in the first three weeks of this month, according to Central Bank data. Read More »
Now is the time for China FTA: EDB Chairman
Given the global economic disruption caused by the Covid-19 pandemic, now is the time for Sri Lanka to resume negotiations on its proposed FTA with China, EDB Chairman Prabhash Subasinghe believes. Read More »
Rupee depreciated by over 1% last week
The Sri Lankan rupee (LKR) recorded a significant drop of 1.2% last week alone, hitting Rs. 189.25 against the US dollar on Friday (27), compared to Rs. 187 last Monday (23). Read More »
‘A Brewing Storm’: Economic Impact of COVID-19 on Sri Lanka
It is in Sri Lanka’s best interests to prepare for the future and enact proactive policy measures to mitigate potential economic costs as much as possible, says Institute of Policy Studies. Read More »
Fitch revises SL’s banking sector outlook to ‘Negative’
Fitch Ratings has revised Sri Lanka's banking sector outlook for 2020 to negative as the coronavirus pandemic poses increased risks to the anticipated expansion in the economy and credit demand. Read More »