Sri Lanka

COLOMBO - Sri Lanka on Monday (4) ordered tight foreign exchange controls after announcing a 3.9% contraction in the economy that accentuated concerns over its ability to repay foreign debt. Central Bank of Sri Lanka Governor W.D.…
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COLOMBO – A Sri Lanka government overdraft mostly at State-run banks had topped half a trillion rupees by August 2020, spiking over 140%, official data showed as the budget deficit soared following a tax cut for ‘stimulus’, and import…
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COLOMBO -The first of two charter flights from Ukraine carrying tourists from Russia is due to arrive in Sri Lanka on Monday (28), kick-starting the tourism industry which has been in the doldrums since the outbreak of the novel coronavirus…
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SINGAPORE - Fitch Ratings has recalibrated its Sri Lankan National Rating scale to reflect changes in the relative creditworthiness among Sri Lankan issuers, following its downgrade of the country's sovereign rating to 'CCC' from 'B-' on…
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COLOMBO - Sri Lanka Tuesday (15) announced its worst economic slump with second quarter GDP plunging 16.3% as international concern grows over its ability to repay foreign debt. The department of Census and Statistics said the record…
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COLOMBO – Sri Lanka’s central bank has ordered commercial banks and the National Savings Bank not to buy sovereign bonds except with new foreign financing, in a move to reduce pressure on the forex market. Sri Lanka’s sovereign bonds are…
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COLOMBO – Effective Friday (18), Sri Lanka’s national carrier SriLankan Airlines will be operating three flights a week to Singapore and also including a Colombo-Kuala Lumpur weekly flight every Friday, as the airline maps a recovery…
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COLOMBO – Sri Lanka’s sovereign credit is under pressure and credit metrics are likely to deteriorate further if a program with the International Monetary Fund (IMF) is delayed, a sovereign rating analyst said. Recent low growth and a…
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COLOMBO - Sri Lanka announced Tuesday (8) the first large-scale Chinese investment in manufacturing in the country, a $300-million tyre factory near a strategic deep-sea port. Western nations, as well as regional power India, have long…
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COLOMBO – The European Union has no problem with Sri Lanka’s large trade surplus with the region, a senior diplomat said, voicing objections for the second time against rising protectionism and import controls, while highlighting the need…
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