ECONOMYNEXT – Fitch Ratings said it had affirmed its national long-term rating at ‘BB(lka) on Sri Lanka-based UB Finance PLC (UBF), but revised the outlook to negative from stable, due to a weak financial profile. “Fitch views UBF’s risk appetite…
ECONOMYNEXT – In parallel with its economic recovery, the Government continues to take steps to heal past wounds and address residual issues affecting civilians from all communities arising from decades of conflict, Sri Lanka told the 57th Session of the…
ECONOMYNEXT – Sri Lanka’s private credit expanded in 60 billion rupees in July 2024, on top of a 74 billion rise in June, official data show, while credit to state enterprises fell. Banks loaned 82.7 billion rupees to the government…
ECONOMYNEXT – Refusing to work with the International Monetary Fund’s debt sustainability analysis for Sri Lanka will lead to un-quantifiable delays in the program with Sri Lanka, the Finance Ministry has said in an explainer on the matter. “Any country…
ECONOMYNEXT – Sri Lanka will give its Coconut Development Authority powers to regulate the quality of imported edible oils such as coconut and palm oil, a government statement said. Minister of Plantations Minister Mahinda Amaraweera said his proposal to empower…
ECONOMYNEXT – Securities linked to gross domestic product growth proposed by bondholders to exchange for defaulted sovereign bonds may not be the best option for Sri Lanka, National People’s Power Economic Council Member Harshana Suriyapperuma said. “Macro-lined bonds will not…
ECONOMYNEXT — Sri Lanka opposition leader and presidential candidate Sajith Premadasa has said a government under him will take measures to alleviate poverty within two years. Speaking at an election rally, Premadasa said a Samagi Jana Balawegaya (SJB) government will…
ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers approved a public sector salary hike in line with an expert panel recommendation for all public servants from January 2025, President Ranil Wickremesinghe’s office said. The move, however, comes a month ahead of…
ECONOMYNEXT – Sri Lanka’s state sugar firms are stuck with a large stock of unsold ethanol as legal alcohol demand plunged, following an economic crisis and tax hikes, State Minister for Investment Promotion Dilum Amunugama said. State-run Lanka Sugar operates…
ECONOMYNEXT — Opposition MP Thalatha Atukorala believes that, if the United National Party (UNP) and the breakaway Samagi Jana Balawegaya (SJB) were to reunite, Sri Lanka’s voters would hand over the country to them “on a platter”. Whether she is…
