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Sri Lanka exporters bring back nearly 100-pct of proceeds: CB Governor

ECONOMYNEXT – Sri Lanka’s renewable companies say they need tariff of 40 to 45 rupees a unit to sell power to the Ceylon Electricity Board and the agency owes them tens of billions of rupees for power sold in the past. The association has strong exchange rate expectations based on the country’s dual anchor conflicting […]

Sri Lanka top chamber less pessimistic on 2023 GDP contraction

ECONOMYNEXT – Permira, an investment fund with operations in Europe, US and Asia is buying a majority stake in Acuity Knowledge Partners, which has a 500 seat center in Sri Lanka for a undisclosed sum. Equistone Partners Europe, from which Permira is buying the stake will remain a minority investor, the statement said. In 2019, […]

Sri Lanka, other defaulting nations have widely differing debt indicators: Expert

ECONOMYNEXT – Sri Lanka other recently defaulting nations have widely differing debt indicators, and some other countries survive with even higher levels of debt, a US based analyst has said. “If you look at the ratio of debt to GDP, the size of the economy the number is very high, mostly because there has been […]

Sri Lanka white water rafting stranded by Broadlands dam

ECONOMYNEXT – Sri Lanka’s Constitutional Council has held its first meeting after parliament approved three civil society representatives through provisions of the 21st amendment to the constitution. The 21st amendment sought to re-instate the constitutional council which is tasked with making several senior public service appointments giving at least partial independence to the public service. […]

Sri Lanka’s shares fall after policy rates held

ECONOMYNEXT – Sri Lanka’s central bank is holding its policy corridor at between rate at 15.5 percent but is expecting market rates to fall further and the economy to start recovering in the second half. The rate setting Monetary Board said its was “of the view that the maintenance of the prevailing tight monetary policy […]

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