All Stories in Economic

Plantation companies for ‘revenue sharing’

Plantation companies for ‘revenue sharing’

In a significant progressive step in the ongoing plantation sector wage discussions, the Regional Plantation Companies (RPCs) have put forward their recommendation for a revenue sharing model for the remuneration of estate workers. This bold initiative is the only sustainable solution and way forward, which …

Tough economic challenges

Tough economic challenges

Sri Lanka’s new administration is facing a lot of internal and external challenges with the economy received from the former regime and it will take a longer period to adjust policy and economic reforms, Eran Wickramaratne, deputy minister of state enterprise development, said. “As you …

Attempts to repair relations with China amid an escalating Financial Crisis

Attempts to repair relations with China amid an escalating Financial Crisis

Sri Lanka appealed to China this week to partially relax the immense foreign debt owed by the South Asian island nation that has contributed to one of its worst-ever financial …

Sri Lanka private pension schemes seen misleading

Sri Lanka private pension schemes seen misleading

Private pensions schemes promoted as old age security for Sri Lankans are misleading as most offer payment only for limited time periods and not till death, a forum was told last week. The use of the term pension is not regulated in the island, said …

What would a borderless South Asia look like?

What would a borderless South Asia look like?

Imagine a South Asia without borders. People, industries, goods and services flow freely in the most profitable way for all. Imagine that necessities sorely needed in one area are freely available from areas where there is plenty. South Asia’s story of poverty amidst plenty would …

Depreciation alone will not slow vehicle imports

Depreciation alone will not slow vehicle imports

The Sri Lankan rupee depreciation will not be sufficient to slow the demand for vehicles, JB Securities stated in its latest research report. “The primary factor fuelling the demand for vehicles is credit – once the gold bubble burst vehicles was the only remaining collateral …

Sri Lanka Eases Grip on Rupee

Sri Lanka Eases Grip on Rupee

Sri Lanka loosened the grip on its currency, becoming the latest country to signal it was giving way to the stress that’s engulfing developing economies as the U.S. moves closer to raising interest rates. The Colombo-based central bank will no longer give a daily intervention …

Coming year looks set to bring further consolidation to Sri Lanka’s financial sector

Coming year looks set to bring further consolidation to Sri Lanka’s financial sector

The coming year looks set to bring further consolidation to Sri Lanka’s financial sector, with market forces expected to drive the trend, in lieu of the government-led policy of the previous administration. Last year saw the industry regulator, the Central Bank of Sri Lanka (CBSL), …

China Rattles Markets With Yuan Devaluation

China Rattles Markets With Yuan Devaluation

Asia’s biggest economy is slowing, the Federal Reserve is about to kick off an interest rate tightening cycle, and China has just devalued its currency. That chain of events back in 1994 eventually touched off a round of competitive currency devaluations that helped trigger the …

Sri Lanka should think carefully before any currency devaluation

Sri Lanka should think carefully before any currency devaluation

Sri Lanka should think carefully about devaluing the rupee as it may not be a good strategy to follow, even though other countries are trying to increase exports by weakening their domestic currencies, newly elected member of parliament and former deputy minister of policy planning …