All Stories in Economic

Rupee edges up

Rupee edges up

The Sri Lankan rupee ended slightly higher on Thursday as exporters sold the dollar and a statement from the International Monetary Fund (IMF) that it may review the country’s request to complete a second loan review boosted the sentiment. The move comes a day after …

Sri Lanka faces trade, human rights link

Sri Lanka faces trade, human rights link

The pain of Sri Lanka’s civil war, which ended in May 2009, continues to haunt residents in the eastern coastal town of Batticaloa and its surrounding villages. Punyamurthi Jeyatheepa, a 32-year-old social worker, is still searching for her husband, Pathmashri, who left their home on …

Shares close at 11month high

Shares close at 11month high

Sri Lankan shares closed at a more than 11-month high in heavy trading on Friday as foreign buying for 26 sessions in a row took net inflows into equities to 13.9 billion rupees ($91.39 million) and boosted sentiment. Foreign investors bought shares worth 708.2 million …

Shares hit 6-month high

Shares hit 6-month high

Sri Lankan shares gained on Friday to hit a more than six-month closing high on foreign buying in market heavyweight John Keells Holdings, helping boost the overall sentiment. Foreign investors net bought equities worth 1.35 billion rupees ($8.88 million) on Friday, extending the week’s net …

Sri Lanka struggles to build up foreign reserves

Sri Lanka struggles to build up foreign reserves

A South Korean ship unloads its cargo of cars at the Hambantota port, the only sign of life at Sri Lanka’s newest harbor on its southern coast. The rest of …

Sri Lanka is rich

Sri Lanka is rich

Sri Lankan finance minister Ravi Karunanayake recently declared he would push capital market reform ahead in 2017 with eye-catching privatizations of state enterprises and securitization of billions of dollars of his government’s debt. These were big promises, but could such ideas deliver the desired results? …

Legal process, lack of approvals delay FDI

Legal process, lack of approvals delay FDI

Long delays in Sri Lanka’s legal process and a lack of speedy approvals from government institutions have delayed foreign direct investment (FDI), the head of state-run investment body chief said on Friday. The government said last month FDI slumped 54 percent to $450 million last …

Balance of payments under pressure

Balance of payments under pressure

Sri Lanka could face balance-of-payments pressure due to foreign outflows from government securities, a government document showed, even as the island nation is in the process of raising up to $2.5 billion from foreign borrowing. The central bank is aiming to tap the international market …

Rates steady, but possible tightening soon

Rates steady, but possible tightening soon

Sri Lanka’s central bank kept its key rates steady on Tuesday for a sixth straight month, but flagged possible “corrective measures” in the months ahead in a sign further tightening might be on the cards to temper inflation pressures and safeguard a fragile rupee. The …

Indian entrepreneurs want road link across Palk Strait

Indian entrepreneurs want road link across Palk Strait

Representatives of Indian companies who exhibited their products at the Jaffna International Trade Fair from January 27 to 29, were unanimously of the view that for the development and trade and investment between India and the Tamil-speaking  Northern Province of Sri Lanka, the construction of …