The latest edition of LMD, a leading business magazine, reveals a significant boost in economic sentiment following Sri Lanka’s recent presidential election. The LMD-PEPPERCUBE Business Confidence Index (BCI) survey indicates a surge in optimism within corporate circles, marking a positive shift under the new executive. According to the survey, October saw a dramatic increase in
Foreign investment in Sri Lanka’s government securities surged last week, with Central Bank data revealing a 15.7 percent increase in foreign holdings. The rise, amounting to 6.9 billion rupees ($23.4 million at an exchange rate of 1 US dollar = 295 LKR), brought the total foreign holding in Sri Lanka’s Treasury bills and bonds to
Fitch Ratings has noted that political risks to Sri Lanka’s debt restructuring process have reduced following the authorities’ endorsement of the IMF programme targets and agreement to proceed with debt restructuring terms established with international bondholders in September. The election of Anura Kumara Dissanayake as president in September had initially caused uncertainty, raising concerns over
Sri Lanka’s dollar bonds took a significant hit following the victory of leftist candidate Anura Kumara Dissanayake in the presidential election, raising concerns about the country’s $3 billion International Monetary Fund (IMF) bailout and ongoing debt restructuring deals. Bonds maturing in March 2029 saw a sharp decline of 3.1 cents, their biggest drop in nearly
The Colombo Stock Exchange began to recover after opening lower following Sri Lanka’s presidential election over the weekend. The All Share Price Index (ASPI) rose by 81.21 points, or 0.74%, reaching 11,047, while the S&P SL20 increased by 1.43%, or 44.27 points, to 3,146, with a turnover of 682 million. Stockbrokers indicated that it’s too
Sri Lanka’s rupee strengthened on Monday, trading at 303.90/304.10 against the US dollar, an improvement from Friday’s 305.25/306.00, following the election of a new president, according to market dealers. Bond yields also declined, while stocks saw a dip at the opening. A bond maturing on February 15, 2028, was quoted at 13.58/13.63 percent, down from
Presidential candidate Anura Kumara Dissanayake has attributed Sri Lanka’s 2022 financial crisis to incumbent President Ranil Wickremesinghe, while largely absolving former President Gotabaya Rajapaksa. Speaking at an election rally, Dissanayake claimed that Wickremesinghe was the architect of the crisis, whereas Rajapaksa’s missteps stemmed from ignorance. “They ended essential supplies like oil, gas, and electricity. Ranil
The Postal Department has submitted an estimate of Rs. 1.4 billion to the Election Commission (EC) to cover the expenses for the upcoming presidential election. Deputy Postmaster General Rajitha Ranasinghe disclosed the estimate on the 29th. The projected expenses encompass general postal charges, registered postal charges, costs for stationery, transportation expenses, and administrative charges. Ranasinghe
China has pledged to donate 1,000 smart boards to Sri Lankan schools, advancing the country’s digital education efforts. This announcement follows an Indian grant project that recently provided digital equipment for 200 smart classrooms and 2,200 smart tablets in the Southern Province, according to Education Minister Susil Premajayantha. The Sri Lankan government, led by President