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Latest topics

» SL Cauvery and Mannar Basins Petroleum Resource Data Revealed
by samaritan Today at 12:00 pm

» Misuse of government property by Royal Colombo Golf Club
by God Father Today at 10:45 am

» Expolanka to continue its winning streak
by samaritan Today at 10:39 am

» Container shipping stocks routed
by target1 Yesterday at 1:32 pm

» Supply Chain Latest: Ocean Freight Rates Are Falling
by target1 Yesterday at 1:26 pm

» Turkish ship leaves Ukraine's Mariupol after grain talks with Moscow
by target1 Yesterday at 11:29 am

» This week's CBOT corn, soy freefalls hard to match in recent years
by target1 Yesterday at 9:57 am

» Positive news to boost market sentiment
by samaritan Yesterday at 9:52 am

» Maharaja at IMF meeting
by Maharaja Thu Jun 23, 2022 10:35 pm

» Why no power cuts in certain areas of Colombo?
by samaritan Thu Jun 23, 2022 5:44 pm

» India assures fullest support to Sri Lanka as a close friend
by samaritan Thu Jun 23, 2022 5:17 pm

» SINS, SAMP, COMB, PARQ, ALUMEX and AEL - are they good shares to start collecting now?
by surfjj Thu Jun 23, 2022 4:25 pm

» Learn how a fixed exchange rate system can be used to reduce inflation.
by target1 Thu Jun 23, 2022 3:35 pm

» Debt Crisis: Sri Lanka Vs Argentine
by CHRONICLE™ Thu Jun 23, 2022 8:17 am

» Sri Lanka in state of panic 1 month after sovereign default
by reyaz Tue Jun 21, 2022 5:23 pm

» Financial stability - we are at the crossroads.
by sheildskye Tue Jun 21, 2022 2:17 pm

» Shrinkflation: Is it ethical?
by sheildskye Tue Jun 21, 2022 2:05 pm

» Banking bullish billionaire Ishara expands footprint
by samaritan Tue Jun 21, 2022 10:58 am

» SL hopes to finalize a staff level program with IMF soon-RW
by samaritan Tue Jun 21, 2022 9:48 am

» Sri Lanka Stock Market heading toward ASPI 4500
by samaritan Tue Jun 21, 2022 9:29 am







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Global announcement&Announcement & Sticky [0]

EXPERT CHRONICLE™ Xl_fill-SL-webmap-3468-x-3468_(2)

Bell Geospace, the world leaders in gravity gradiometry, has conducted the first aerial mapping of petroleum resources in Sri Lanka in Q4 of 2021, and will be presenting these insights...

by samaritan - Comments: 1 - Views: 136
EXPERT CHRONICLE™ 1655984544-Indian-Foreign-Secretary-calls-on-Prez-Rajapaksa-L

The Government of India, as a close friend of Sri Lanka, will extend its fullest support to the island nation in overcoming the current difficult situation, Indian Foreign Secretary Vinay Kwatra told President Gotabaya Rajapaksa today (June 23).
The Indian Foreign Secretary made these remarks during a meeting with President Gotabaya Rajapaksa at the President’s House in Colombo this morning.
The Indian delegation arrived on...

by samaritan - Comments: 0 - Views: 89
EXPERT CHRONICLE™ IsharaCNanayakkara11

  • [b]LOLC Group enters DFCC buying 10% for Rs. 2.2 b investment via Rights Issue [/b]

  • [b]LOLC/Browns Investments already hold 10% voting stake and 46% non-voting stake in HNB and treat second largest private bank as an associate[/b]

  • [b]HNB owns 15% stake in DFCC as single largest shareholder[/b]

  • [b]DFCC is single largest shareholder...

by samaritan - Comments: 1 - Views: 255
EXPERT CHRONICLE™ Depositphotos_69621365-stock-photo-imf-international-monetary-fund-world

Sri Lanka hopes to finalize a staff level programme with the International Monetary Fund ( IMF) soon, Prime Minister Ranil Wickremesinghe said yesterday.   

“Today, I met the visiting IMF Team and commenced discussions. Looking forward to reaching a staff level agreement and finalizing the programme...

by samaritan - Comments: 0 - Views: 130
Record Low of 4300+ in May 2020

Sri Lanka Stock Market moved up from Corona virus low of ASPI 4300+ in May 2020 to an unrealistic High of 13000+ in January 2022 entirely due to market speculation by local investors despite lack of foreign investments or any growth in the economy.

Stock Market is finally come to terms with the economic realities of the country resultant from energy and food crisis and dipped to ASPI 6800+ levels in April...

by God Father - Comments: 8 - Views: 989

[size=19]COLOMBO (News 1st); Prime Minister Ranil Wickremesinghe commenced discussions with the IMF team a short while ago at the Prime Minister’s Office.[/size]
[size=19]The Ministry of Finance stated that the delegates are visiting the country to further expand the discussions regarding the funds to be obtained from the International Monetary Fund (IMF).[/size]

by samaritan - Comments: 0 - Views: 105
EXPERT CHRONICLE™ Image_a5b7cb65a2

President’s Counsel Harsha Amarasekera and businessman A.M. Weerasinghe have been chosen to fill the shoes of business magnate Dhammika Perera in several listed entities.

Perera last week resigned from all the director boards of the companies controlled by him, in a bid to enter Parliament.  

Accordingly, with effect from June 16, Amarasekera will serve as Chairman of Royal Ceramics, Vallibel One,...

by God Father - Comments: 0 - Views: 276

US President Joe Biden has announced his support to Sri Lanka, Prime Minister Ranil Wickremesinghe said.

The US President had made this announcement during a meeting with diplomats held at the White House recently. The Prime Minister said that he is pleased that the US has come forward to assist...

by samaritan - Comments: 2 - Views: 260
EXPERT CHRONICLE™ IsharaCNanayakkara11

LOLC Holdings yesterday said it had acquired 9.99 percent of DFCC Bank PLC through the latter’s recently concluded rights issue.
As of yesterday’s market filing, LOLC Holdings held little over 40.2 million DFCC Bank shares, which it had bought for Rs.2.2 billion.

by samaritan - Comments: 0 - Views: 151
EXPERT CHRONICLE™ Sri-lanka-qatar-table-flags-isolated-white-d-rendering-sri-lanka-qatar-table-flags-isolated-white-background-d-180860972

Excerpt from an article published in the "The Island" newspaper of 14th June 2022, page 3:

Foreign Minister Prof G.L.Peiris has sought an early opportunity for power & energy Minister Kanchana Wijesekera and Environment Minister Naseer Ahamed an expert in the field...

by samaritan - Comments: 0 - Views: 223
EXPERT CHRONICLE™ 07796029d10b45fe9fcc77e4f8ffb4f7

Sri Lanka is in a dire situation. Known as the "Pearl of the Indian Ocean," the country is facing the worst economic crisis since independence in 1948. Western media has taken this opportunity to hype up the so-called Chinese debt trap, alleging that Sri Lanka is on the verge of economic collapse because it was unable to repay its large loans from China. They add that the Belt...

by God Father - Comments: 0 - Views: 140

A Real Estate Investment Trust, widely known as a REIT, is a model which facilitates and enables collective investment and acts as a Collective Investment Vehicle. Belonging to the sub category of investment methods known as Unit Trusts, REITs mainly function by pooling money from the public and using such money to acquire and develop property. This process was introduced to the country by the Securities and Exchanges Commission of Sri Lanka through The Unit...

by CHRONICLE™ - Comments: 0 - Views: 303

Top business leader and Minister-to-be Dhammika Perera yesterday resigned from all his companies and was named as a National List MP via an extraordinary gazette as part of preparations to be appointed as a Cabinet Minister.

The respective Colombo Stock Exchange-listed companies notified Dhammika’s resignation yesterday. The move is ahead of Dhammika’s appointment as the Minister of Investment Promotion and Technology following his...

by ChooBoy - Comments: 1 - Views: 183
EXPERT CHRONICLE™ GettyImages-1240982423
A demonstrator throws back a tear gas canister fired by police to disperse students taking part in an anti-government protest demanding the resignation of Sri Lanka's President Gotabaya Rajapaksa over the country's crippling economic crisis, in Colombo on May 29, 2022.
Many middle-income and developing countries are now suffering from a combination of internal political...

by ChooBoy - Comments: 0 - Views: 126
When you came to the office in early April, we had very high hopes of you. Yes, you yourself said you can’t do magic but we thought you will think out of the box and out of your theory books to fight the fire at home! But we were wrong sir! Instead of fighting fire with fire or any  extinguishers, you started to guard the house! Sir, we don’t need a guard for a house under fire; we need a good fire fighter! The way you're guarding the house will end up giving us only ashes and nothing...

by God Father - Comments: 3 - Views: 756
EXPERT CHRONICLE™ Indrajit-Coomaraswamy-2

ECONOMYNEXT – Sri Lanka could get as much as 6.0 billion dollars in “bridge financing” from India and talks are underway with Japan to also get funds, ex-Central Bank Governor Indrajit Coomaraswamy who is an advisor to the government said.
“India has agreed to give 4.5 billion dollars,” Coomaraswamy...

by samaritan - Comments: 0 - Views: 232

  • [b]Pre-tax profit and after-tax profit notch up 46% growth to Rs. 83.8 b and Rs. 77.8 b respectively [/b]

  • [b]Total Comprehensive Income tops to a record Rs. 160 b[/b]

  • [b]Says Group is focused on taking its lifestyle-based payment gateway, iPay, global [/b]

  • [b]Poised to launch insurance business model to global markets under the brand of Serendib Insurance launched...

by samaritan - Comments: 1 - Views: 236

The Hindu - India and Japan have agreed to work together on assisting crisis-hit Sri Lanka, the Japanese government said, following a recent meeting between Prime Ministers Narendra Modi and Fumio Kishida in Tokyo.
Mr. Modi and Mr. Kishida met...

by samaritan - Comments: 0 - Views: 209

New commodity bubble due to increase in the price of commodities by the producers likely to affect South East Asia. This is due to high worker absenteeism resulting from pandemic. Local food prices likely to increase, similarly the cost of imported food products. How will this affect the Sri Lanka Economy?


Inflation rate in Sri Lanka 2026
For the past few years, Sri Lanka’s economy has been...

by CHRONICLE™ - Comments: 4 - Views: 1292


New York (CNN Business)Inflation is eating into everyone's paycheck — unless you're a CEO.

]Prices are going up just about everywhere, and corporations have been quick to blame those hikes on the cost of doing business, with labor and materials prices...

by target1 - Comments: 0 - Views: 257
EXPERT CHRONICLE™ 090776c1-usaid

COLOMBO (News 1st); The Administrator of USAID Samantha Power has held a call with Prime Minister of Sri Lanka, Ranil Wickremesinghe to discuss how USAID is responding to the country’s political and economic crises.

Administrator Power expressed her sympathy for those Sri Lankans who were killed or injured in the political unrest earlier this month.

Moreover, she pledged her support to the people of Sri Lanka and committed that USAID would help the country...

by samaritan - Comments: 0 - Views: 113

CSE Chairman Dumith Fernando was compelled to resign from the Chairmanship of the CSE prematurely without serving its full term of 3 years in office due to serious investor pressure, misconduct and clear conflict of interest in discharging his offiicial duties.

Mr Fernando alleged to have placed increased emphasis and importance relating to his own business activities of Asia Securities in conflict with overall direction and objectives of the Colombo stock market and its participants....

by ChooBoy - Comments: 2 - Views: 377
EXPERT CHRONICLE™ 206bbe35-c3937316-2cdc8665-japan-and-sl-edited-_850x460_acf_cropped_850x460_acf_cropped

The new Sri Lanka administration led by PrimeMinister Ranil Wickremasinghe with 44 years experience in local politics and close relations with friendly countries is making every diplomatic move to bolster the debt-ridden country’s flagging foreign reserves.
 The new Sri Lankan Premier is...

by samaritan - Comments: 1 - Views: 319
EXPERT CHRONICLE™ Summit-or-meeting-concept-row-from-flags-of-members-of-g7-group-of-picture-id1013112670?k=20&m=1013112670&s=612x612&w=0&h=jG0iXRParTOxOCVBDnF189Jkj9qxozq961xR1EIShZI=

The Group of Seven economic powers support efforts to provide debt relief for Sri Lanka, G7 finance chiefs said on Thursday in a draft communique from a meeting in Germany after the country defaulted on its sovereign debt, Reuters reported.

by samaritan - Comments: 0 - Views: 850

  • [b]ASPI gains 1,030 points (13.9%) over last four sessions while more liquid S&P SL20 index gains around 409 points (17%)[/b]

The Colombo stock market yesterday posted sharp gains with improved turnover as investor sentiment turned bullish.

The active S&P SL20 Index gained by 5.5% and the benchmark ASPI gained by 4.4%. Turnover was Rs. 2.75...

by samaritan - Comments: 3 - Views: 463
EXPERT CHRONICLE™ Image_0a1a939475

Main Opposition SJB Parliamentarian and Treasurer Dr. Harsha de Silva yesterday offered to give leadership to an all-party economic revival plan via a key Parliamentary oversight committee. 

“Given the deadlock in creating an all-party government to resolve

by samaritan - Comments: 0 - Views: 204

- CBSL plans to provide a daily guidance range on Exchange rates movements to the interbank market, based on weighted average exchange rate of the previous day +/- a specified %
- Further, operating instructions to be issued this week to banks to minimize charges on fees, margins and commissions on exchange transactions
- Banks given guidance that they will have discretion to direct the export proceeds to essential imports and exporters should not instruct banks to route dollars for...

by God Father - Comments: 0 - Views: 232

The economic crisis haunting the island is changing political equations inside and outside the country while India-China brinkmanship continues unabated
EXPERT CHRONICLE™ On_the_Edge.jpg?w=640&dpr=2

Dark clouds have gathered over the island nation of Sri Lanka girded by the emerald waters of the Indian Ocean. Clouds that presage hunger, suffering and political chaos for the people of the crisis-wracked nation. There is 45-year-old Nilanthi Kumari who sells sweetmeats in the Colombo suburb of Thalawathugoda. She used to earn a decent income but is now struggling to make ends meet. She says the prices of wheat flour, sugar and coconut...

by CHRONICLE™ - Comments: 0 - Views: 209

Jokowi asks Putin to end war in Ukraine
JAKARTA: Indonesia's President Joko Widodo(pix) has urged Russia to end the war in Ukraine which is impacting negatively the world economic recovery.

by target1 - Comments: 1 - Views: 344

By Marc Jones
LONDON (Reuters) – Global supply chain problems look to set to worsen, a new report published on Tuesday said, as China’s COVID-19 lockdowns, Russia’s invasion of Ukraine and other strains cause even longer delays at ports and drive up costs.

by samaritan - Comments: 0 - Views: 244

ECONOMYNEXT – Sri Lanka tourism arrivals dipped 40 percent in April resulting in the lowest number of arrivals in the last three months of 2022, official data showed.

According to data shared by the Sri Lanka Tourism Development Authority (SLTDA,) only 62,980 tourists had arrived in April compared to 106,500 the previous month.

March was also the month Sri Lanka had welcomed the highest number of travellers since August 2021 when the country fully opened...

by CHRONICLE™ - Comments: 0 - Views: 176

As the brothers helming the government struggle with a spiraling economic crisis, they still have legislators and generals behind them—for now.
EXPERT CHRONICLE™ Sri-lanka-protests-GettyImages-1392268143
Sri Lanka announced last week that it would default on $51 billion of foreign debt, marking the first time in 20 years that a South Asian country has faced such an economic crisis. Sri Lankans now lack fuel for their cars, face regular power cuts, and are preparing for a looming food shortage. Although recent challenges—chief among them the COVID-19 pandemic—have compounded Sri Lanka’s economic plight, the default has...

by ChooBoy - Comments: 10 - Views: 802

This Announcement is issued on behalf of the above Company in terms of Rule 7.8.c. of the Listing Rules of the Colombo Stock Exchange (“CSE”).

1. The undermentioned Director of the Company has notified that he has acquired a Relevant Interest in Ordinary Voting Shares of the Company by acquiring the undermentioned shares from the Market on the said date.
2. The name and designation of the Director is Mr. B. Premalal –...

by ChooBoy - Comments: 0 - Views: 247

[size=24]Ports are already snarled, with the $22 trillion trade in global goods facing months of severe disruption.[/size]

[size=20]China’s stringent rules to curb Covid-19 are about to unleash another wave of summer chaos on supply chains between Asia, the U.S. and Europe.
Beijing’s zero-tolerance approach amid...

by samaritan - Comments: 0 - Views: 197
EXPERT CHRONICLE™ 20170130_Mark_Mobius_mag

ECONOMYNEXT – Sri Lanka’s stocks and sovereign bonds which are trading at steep discounts are an investment opportunity, emerging market investor Mark Mobius said as a sof-pegged exchange rate regime failed after output gap targeting and the country defaulted on its foreign debt.

by samaritan - Comments: 0 - Views: 232

by God Father - Comments: 2 - Views: 1048
EXPERT CHRONICLE™ 3d284a81-cse

COLOMBO (News 1st); Inflation is the cause for the rise of the Colombo Stock Exchange (CSE) in recent times, while the same reason has driven Sri Lanka to have an economic crisis, says CSE Chairman Dumith Fernando.
Concerns have arisen as to when the country is doing relatively poor in terms of its economy, as to how the stock market on an ever growing upward trend. 

]Speaking at the CSE press conference on Wednesday (12) evening, the Chairman of the Colombo Stock...

by samaritan - Comments: 1 - Views: 1197
Photo Credit: K Naridasa

By Hiran H.Senewiratne

The current US dollar crisis has negatively impacted the CSE’s foreign investors. It has confronted them with difficulties in repatriating dividend payments made to them by companies, along with other financial gains, CSE chairman, Dumith Fernando said.

‘It is beyond the CSE’s control to resolve their problem. But we have already informed the Central...

by ddindika - Comments: 3 - Views: 318

During the last monitory policy review, CBSL increased the interest rates by 7%! This was an unprecedented increase, an increase of almost 100%, compared to previous rate! As a result of this, at 11th April’s treasure bill auction , one year TB rate went upto 24%! 

This is a complete disaster Mr Governor! Do you expect inflation to come down by rincreasing the interest take? Do you expect more dollars to come into the country by increasing the rupee interest rate? Do you expect...

by God Father - Comments: 8 - Views: 1336
EXPERT CHRONICLE™ Image_11a8e2e65d

  • [b]Finance Minister-led delegation leaves to Washington DC for talks with IMF, WB and others[/b]

Central Bank Governor Dr. P. Nandalal Weerasinghe last week faulted the 13 April Daily FT headline ‘SL declares bankruptcy’ (, saying the country is not bankrupt...

by samaritan - Comments: 0 - Views: 182

What are Cash and Cash Equivalents?

Cash and cash equivalents is a line item on the balance sheet, stating the amount of all cash or other assets that are readily convertible into cash. Any items falling within this definition are classified within...

by target1 - Comments: 0 - Views: 170
The revenue reserve is defined as the reserve that the organization establishes from the profits that the business earns through the course of business for a given period. The revenue reserves are utilized for meeting contingencies and for the purpose of small projects that helps in business expansion. Whenever an organization. makes good level of profits or earns substantially well, as a conservative policy, then tend to establish a reserve that holds a portion of the profit and could be used for reinvestment to meet the business requirements....

by target1 - Comments: 0 - Views: 163
Will SEC exercise its powers to close CSE next week?


by God Father - Comments: 3 - Views: 580

The market’s poised on a knife-edge as the prime minister holds meetings and spells out priorities in a desperate attempt to avoid not just outright economic collapse, but also mitigate damage from default down the road. It’s not very often, after all, that you see possibly the largest one-time rate hike by the CBSL (Central Bank of Sri Lanka), that too in an emergency meeting ahead of schedule, and also attempt to control record stock market crash within next few days.

by ddindika - Comments: 0 - Views: 363

Sri Lanka’s President Gotabaya Rajapaksa has a fetish for fiasco. The Indian Ocean island is a basket case for several reasons. Covid-19 decimated dollar earnings from tourism; the resulting increase in social spending ballooned public debt. Then came the war in Ukraine, worsening shortages of food, fuel and foreign currency. But the lion’s share of the blame must go to the strongman’s quixotic policies.

Rajapaksa has presided over the economy’s undoing: It...

by ddindika - Comments: 0 - Views: 208

Sovereign debt is regularly in the news even though we may not realize it. Several poor countries keep defaulting on their debt. This occurs more frequently with countries in Latin America and Africa. People have a limited understanding of how sovereign debt works. This is because sovereign debt is a bit counter-intuitive. It is true that countries borrow money just like companies and must repay them in a similar fashion. If a company fails to repay the debt, it must face the consequences of...

by God Father - Comments: 0 - Views: 313

*Announces temporary suspension of repayment of all external debt as of 12 April
*Interested creditors can claim outstanding in rupees
*New credit facilities and any amounts disbursed under existing credit facilities after 12 April are excluded and will be serviced normally
*Finance Ministry says move only as last resort to prevent further deterioration of *SL’s financial position; will help source essential imports
*Treasury Secretary and CBSL Chief tell journalists move follows impossibility of external debt servicing...

by ChooBoy - Comments: 0 - Views: 514

Former Prime Minister Ranil Wickremesinghe said yesterday Parliament should evolve a mechanism to get out of the current crisis, and financial assistance from multilateral agencies and friendly countries was feasible to address economic woes.  
 Making his remarks in Parliament on the situation, he said this is a crisis...

by samaritan - Comments: 0 - Views: 299

Since 2010, Sri Lanka witnessed a sharp rise in foreign debt, reaching 88% of the country's GDP in 2019. The onset of the COVID-19 pandemic induced global recession accelerated the crisis and by 2021, the foreign debt rose to 101% of the nation's GDP, causing an economic crisis. Several protests were staged by the political opposition demanding the current administration to solve the financial crisis and to immediately resign in wake of the wider economic crisis.

by God Father - Comments: 3 - Views: 605

by ResearchMan - Comments: 1 - Views: 230

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