Stock market’s daily turnover exceeds Rs. 11bn after single transaction
The daily turnover of the Colombo Stock Exchange (CSE) has crossed Rs. 11 billion this morning (Feb. 07). As per stock market figures, this was mainly due to a single transaction of 61.9 million shares in John Keells Holdings PLC.
Bitcoin ETF: Cryptocurrency swings as watchdog X account ‘compromised’
Bitcoin jumped briefly on Tuesday after a post on the US markets regulator’s X account (formerly Twitter) said it had approved new so-called exchange-traded funds (ETFs) in the cryptocurrency. The Securities and Exchange Commission (SEC) later deleted the post and said its account had been “compromised”. The social media platform has said the compromised account […]
Sri Lanka’s official reserve assets up by 23.2% in Dec. 2023
The Central Bank of Sri Lanka (CBSL) has reported an increase of 23.2% in Sri Lanka’s official reserve assets from September 2023 to October 2023. Accordingly, Sri Lanka’s official reserve assets increased to USD 4.4 billion in December 2023 from USD 3.57 billion in November 2023. “This includes a swap facility from People’s Bank of […]
Govt targeting increase in state revenue to 15% of GDP by 2026
State Minister for Finance, Shehan Semasinghe, emphasized that the sustained single-digit inflation has significantly contributed to fostering business confidence within the country. During a press conference at the Presidential Media Centre (PMC) themed ‘Collective Path to a Stable Country,’ held today (01) the State Minister disclosed that the state revenue accounted for 11.2% of the […]
Central Bank further relaxes its monetary policy stance
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to further reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 9.00% and 10.00%, respectively. At its meeting on Thursday (Nov.23), the Board arrived at this […]
Central Bank reduces its policy interest rates
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 10.00% and 11.00%, respectively. The first monetary policy review by the Monetary Policy Board under the Central Bank […]
President to meet IMF team today for last meeting of EFF review
President Ranil Wickremesinghe is due to meet with the visiting team of the International Monetary Fund (IMF) today (26 Sep.). This meeting will be the last in the series of meetings held between the IMF team and representatives of the Sri Lankan government since 14 September, when discussions pertaining to the Extended Fund Facility (EFF) […]
Fitch downgrades Sri Lanka’s Long-Term Local-Currency IDR
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’. The ratings on its local-currency bonds tendered in the domestic debt exchange have been downgraded to ‘D’ from ‘C’ while its other four local-currency bonds not tendered in the domestic debt exchange have been affirmed at […]
Union Assurance Announces Robust Financial Results for H1 2023, Demonstrating Resilience and Growth
Union Assurance, Sri Lanka’s formidable Life Insurer, is proud to announce its exceptional financial performance for the first half of 2023, building on its success at the beginning of the year. The Company’s remarkable growth across key performance indicators underscores its unwavering commitment to delivering value to its stakeholders. Union Assurance’s Gross Written Premium continued […]
CSE’s ASPI records significant gains
The All Share Price Index (ASPI) of the Colombo Stock Exchange has recorded significant gains on Monday (Sep 04) with the index gaining 218.22 points to close at 11,374.64 points at the end of trading. This is an increase of 1.96% from the previous day. Meanwhile the S&P SL20 has gained 80.98 points (2.57%) to […]