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Sri Lanka opposition leader proposes Grama Rajya system in addition to 13A
13-Jun-24
Politics
Premadasa's assurance of implementing the 13th amendment has already drawn some protest in the south.
Sri Lanka opposition leader proposes Grama Rajya system in addition to 13A Premadasa's assurance of implementing the 13th amendment has already drawn some protest in the south.
NEGATIVE
Commercial & Professional Services
Sri Lanka rupee closes flat at 303.85/95 to US dollar
13-Jun-24
Bonds & Forex
Bond yields were down.
Sri Lanka rupee closes flat at 303.85/95 to US dollar Bond yields were down.
NEGATIVE
Banks
Sri Lanka sells Rs295bn in 2027 to 2031 bonds
13-Jun-24
Bonds & Forex
All offered 125 billion rupees of 15 September 2029 bonds were sold at 11.00 percent.
Sri Lanka sells Rs295bn in 2027 to 2031 bonds All offered 125 billion rupees of 15 September 2029 bonds were sold at 11.00 percent.
NEGATIVE
Banks
Sri Lanka coastal plantation of pomegranates yields bumper crop
13-Jun-24
Agriculture
“The sea breeze is favorable for pomegranate cultivation in Batticaloa,”
Sri Lanka coastal plantation of pomegranates yields bumper crop “The sea breeze is favorable for pomegranate cultivation in Batticaloa,”
POSITIVE
Food, Beverage & Tobacco
Sri Lanka stocks close down amid lack of clarity on debt restructuring
13-Jun-24
Stocks & Companies
Turnover was 1.8 billion. Most of this came from selling on banking stocks (Rs738mn).
Sri Lanka stocks close down amid lack of clarity on debt restructuring Turnover was 1.8 billion. Most of this came from selling on banking stocks (Rs738mn).
NEGATIVE
Banks
Sri Lanka discusses legal framework, EOI for nuclear energy: Minister
13-Jun-24
Energy
Discussed the progress of the proposed legal framework on nuclear energy integration, and EOI for nuclear energy
Sri Lanka discusses legal framework, EOI for nuclear energy: Minister Discussed the progress of the proposed legal framework on nuclear energy integration, and EOI for nuclear energy
POSITIVE
Utilities
Sri Lanka tea plantation female workers overlooked for promotions: Minister
13-Jun-24
Tea
Less than qualified men are in management positions, because they know how to order people around
Sri Lanka tea plantation female workers overlooked for promotions: Minister Less than qualified men are in management positions, because they know how to order people around
NEGATIVE
Commercial & Professional Services
Sri Lanka courts to sell vehicles, machinery seized for suspected involvement in crimes
13-Jun-24
Courts
Courts are compelled to keep the seized vehicles until legal cases are over under the current law
Sri Lanka courts to sell vehicles, machinery seized for suspected involvement in crimes Courts are compelled to keep the seized vehicles until legal cases are over under the current law
NEGATIVE
Commercial & Professional Services
Protest held outside Sri Lanka opposition leader's office against 13th amendment
13-Jun-24
Politics
"We will not allow this country to be divided into nine pieces," said Thushara.
Protest held outside Sri Lanka opposition leader's office against 13th amendment "We will not allow this country to be divided into nine pieces," said Thushara.
NEGATIVE
Commercial & Professional Services
Some Sri Lanka IMF-agreed targets delayed with consensus: State FinMin
13-Jun-24
Economy
Sri Lanka has faced delays in enacting some laws required for IMF-led reforms
Some Sri Lanka’s IMF-agreed targets delayed with consensus: State FinMin Sri Lanka has faced delays in enacting some laws required for IMF-led reforms
NEGATIVE
Banks
Sri Lanka in final stages of reaching in-principle deal with CDB: State Minister
13-Jun-24
Economy
Expects all bilateral creditor to wrap up final MOUs in June
Sri Lanka in final stages of reaching in-principle deal with CDB: State Minister Expects all bilateral creditor to wrap up final MOUs in June
NEGATIVE
Banks
Sri Lanka rupee trades at 303.90/304.05 to US dollar
13-Jun-24
Bonds & Forex
Bond yields were broadly stable, stocks drop
Sri Lanka rupee trades at 303.90/304.05 to US dollar Bond yields were broadly stable, stocks drop
POSITIVE
Banks
Sri Lanka Softlogic Rs10bn rights issue to settle debt
13-Jun-24
Stocks & Companies
Softlogic announced in March that it would infuse equity into the company
Sri Lanka’s Softlogic Rs10bn rights issue to settle debt Softlogic announced in March that it would infuse equity into the company
POSITIVE
Diversified Financials
Sri Lanka to investigate SIS, CNI actions prior to Easter attack
13-Jun-24
Easter Sunday attacks
Whether adequate actions were taken by State Intelligence Service, Chief of National Intelligence
Sri Lanka to investigate SIS, CNI actions prior to Easter attack Whether adequate actions were taken by State Intelligence Service, Chief of National Intelligence
NEGATIVE
Commercial & Professional Services
IMF approves Sri Lanka review, calls for monetary policy for stability
13-Jun-24
Economy
Monetary policy should continue prioritizing price stability
IMF approves Sri Lanka review, calls for monetary policy for stability Monetary policy should continue prioritizing price stability
NEGATIVE
Banks
Conflict left in Sri Lanka constitution to avoid referendum
13-Jun-24
Legal
It leaves an ambiguity at best and a loophole at worst
Conflict left in Sri Lanka constitution to avoid referendum It leaves an ambiguity at best and a loophole at worst
NEGATIVE
Commercial & Professional Services
Sri Lanka plantations to battle state directed wage hike in courts
13-Jun-24
Business
May hurt the ability to service bank loans
Sri Lanka plantations to battle state directed wage hike in courts May hurt the ability to service bank loans
NEGATIVE
Food, Beverage & Tobacco
IMF approves Sri Lanka program review, Foreign Minister Sabry says
12-Jun-24
Economy
.
IMF approves Sri Lanka program review, Foreign Minister Sabry says .
POSITIVE
Banks
Sri Lanka president needs referendum to extend his tenure: Justice Minister
12-Jun-24
Politics
Presidential election will be held between September 17 and October 16, the Election Commission has announced
Sri Lanka president needs referendum to extend his tenure: Justice Minister Presidential election will be held between September 17 and October 16, the Election Commission has announced
NEGATIVE
Commercial & Professional Services
Sri Lanka rupee closes weaker at 303.80/304.00 to US dollar
12-Jun-24
Bonds & Forex
Bond yields were up.
Sri Lanka rupee closes weaker at 303.80/304.00 to US dollar Bond yields were up.
NEGATIVE
Banks
Sri Lanka stocks close marginally down, leasing companies see interest
12-Jun-24
Stocks & Companies
Turnover was 1.6 billion. Index heavyweights, diversified financials and consumer sectors contributed the most.
Sri Lanka stocks close marginally down, leasing companies see interest Turnover was 1.6 billion. Index heavyweights, diversified financials and consumer sectors contributed the most.
NEGATIVE
Banks
Renovation in Sri Lankas Northern rail track to reduce Colombo-Jaffna train time to 5.5 hours
12-Jun-24
Transport
Renovations started in January with Indian financial assistance
Renovation in Sri Lanka’s Northern rail track to reduce Colombo-Jaffna train time to 5.5 hours Renovations started in January with Indian financial assistance
POSITIVE
Transportation
Singapore-based Aditya Birla awarded Sri Lanka CPCs 1.5 mln barrel 92 Unl petrol supply
12-Jun-24
Energy
The firm was chosen from bids called to supply five shipments in six months
Singapore-based Aditya Birla awarded Sri Lanka CPC’s 1.5 mln barrel 92 Unl petrol supply The firm was chosen from bids called to supply five shipments in six months
POSITIVE
Energy
Sri Lanka Treasuries yields higher, Rs215bn sold
12-Jun-24
Bonds & Forex
The 12-month bill yield went up 27 basis points to 9.54 percent
Sri Lanka Treasuries yields higher, Rs215bn sold The 12-month bill yield went up 27 basis points to 9.54 percent
NEGATIVE
Banks
Sri Lanka to implement national tariff policy in three phases from 2025
12-Jun-24
Trade
"Various policies introduced from time to time by the existing governments,"
Sri Lanka to implement national tariff policy in three phases from 2025 "Various policies introduced from time to time by the existing governments,"
NEUTRAL
Commercial & Professional Services
Sri Lanka to begin free trade agreement negotiations with Malaysia
12-Jun-24
Trade
Free trade deals with Asia and Pacific have generated sharply more exports than imports
Sri Lanka to begin free trade agreement negotiations with Malaysia Free trade deals with Asia and Pacific have generated sharply more exports than imports
POSITIVE
Commercial & Professional Services
Sri Lanka Railways explores leasing space above stations, increasing goods trains to boost revenue
12-Jun-24
Transport
Sri Lanka Railways has yet to make profit despite ticket price hike in 2022
Sri Lanka Railways explores leasing space above stations, increasing goods trains to boost revenue Sri Lanka Railways has yet to make profit despite ticket price hike in 2022
NEGATIVE
Transportation
Startup Genome ranks Sri Lanka among worlds top 10 for affordable talent
12-Jun-24
ICT
Ranking was made in the latest Global Startup Ecosystem Report 2024
Startup Genome ranks Sri Lanka among world’s top 10 for affordable talent Ranking was made in the latest Global Startup Ecosystem Report 2024
NEUTRAL
Commercial & Professional Services
Sri Lanka optimistic ahead of IMF review: State minister
12-Jun-24
Economic Crisis
"We remain optimistic that our international partners will continue to support Sri Lanka's efforts,"
Sri Lanka optimistic ahead of IMF review: State minister "We remain optimistic that our international partners will continue to support Sri Lanka's efforts,"
POSITIVE
Banks
Sri Lanka rupee weakens further at 303.75/304.00 to US dollar
12-Jun-24
Bonds & Forex
Bond yields were broadly stable, stocks up.
Sri Lanka rupee weakens further at 303.75/304.00 to US dollar Bond yields were broadly stable, stocks up.
NEGATIVE
Banks
Vidullanka, WindForce joint venture signs purchase agreement with solar plant
12-Jun-24
Energy
Power purchase agreement for the development of a 10 megawatt Vavunathivu II solar power project in Batticaloa
Vidullanka, WindForce joint venture signs purchase agreement with solar plant Power purchase agreement for the development of a 10 megawatt Vavunathivu II solar power project in Batticaloa
POSITIVE
Utilities
Sri Lanka Labor Ministry, ILO, IOM discuss labour reforms
12-Jun-24
Employment
Ministry, International Labor Organization, International Organization for Migration to train care workers
Sri Lanka Labor Ministry, ILO, IOM discuss labour reforms Ministry, International Labor Organization, International Organization for Migration to train care workers
NEUTRAL
Commercial & Professional Services
Sri Lanka environmentalists, Bishop file FR petition over Indian Adani's Mannar wind power deal   
11-Jun-24
Energy
Already Mannar project is challenged in the Supreme Court by Sri Lanka's Wildlife and Nature Protection Society
Sri Lanka environmentalists, Bishop file FR petition over Indian Adani's Mannar wind power deal    Already Mannar project is challenged in the Supreme Court by Sri Lanka's Wildlife and Nature Protection Society
NEUTRAL
Utilities
NPP says will honour debt obligations, Sri Lanka must restructure debt
11-Jun-24
Politics
"To come out of this crisis, we really must go for a debt restructuring," he said.
NPP says will honour debt obligations, Sri Lanka must restructure debt "To come out of this crisis, we really must go for a debt restructuring," he said.
POSITIVE
Banks
Sri Lanka to promote sea cucumber hatcheries due to demand: Minister
11-Jun-24
Fisheries
“They are like black gold,” Devananda said.
Sri Lanka to promote sea cucumber hatcheries due to demand: Minister “They are like black gold,” Devananda said.
NEGATIVE
Food, Beverage & Tobacco
Sri Lanka looks for investment for ship building, repairing in Oluvil commercial harbour
11-Jun-24
Investment
The port has not been in operation for almost a decade due to sand deposits at the entrance
Sri Lanka looks for investment for ship building, repairing in Oluvil commercial harbour The port has not been in operation for almost a decade due to sand deposits at the entrance
NEGATIVE
Transportation
Sri Lanka planters demand justice after Minister storms estate, drunken gang takes staff hostage
11-Jun-24
Business
Ministers denies anyone was taken hostage
Sri Lanka planters demand justice after Minister storms estate, drunken gang takes staff hostage Ministers denies anyone was taken hostage
NEGATIVE
Food, Beverage & Tobacco
Jaishankar to visit Sri Lanka ahead of Indian Prime Minister: President
11-Jun-24
International Relations
"Plans to visit Sri Lanka soon to oversee progress and coordinate Prime Minister Modi’s visit,"
Jaishankar to visit Sri Lanka ahead of Indian Prime Minister: President "Plans to visit Sri Lanka soon to oversee progress and coordinate Prime Minister Modi’s visit,"
POSITIVE
Commercial & Professional Services
India should act strictly on fishermen poaching, bottom trawling in Sri Lankan sea: Minister
11-Jun-24
Free Speech
Northern fishermen have chosen Chinese assisted sea cucumber farming after their livelihood hit by bottom trawling
India should act strictly on fishermen poaching, bottom trawling in Sri Lankan sea: Minister Northern fishermen have chosen Chinese assisted sea cucumber farming after their livelihood hit by bottom trawling
NEGATIVE
Food, Beverage & Tobacco
Sri Lanka rupee closes weaker at 303.50/75 to US dollar
11-Jun-24
Bonds & Forex
Bond yields were up ahead of the auction.
Sri Lanka rupee closes weaker at 303.50/75 to US dollar Bond yields were up ahead of the auction.
NEGATIVE
Banks
Sri Lanka stocks close up, Hayleys top traded
11-Jun-24
Stocks & Companies
Turnover was 3.7 billion. A large part of this came from Hayleys Plc (Rs1bn). The share closed up at 105.25.
Sri Lanka stocks close up, Hayleys top traded Turnover was 3.7 billion. A large part of this came from Hayleys Plc (Rs1bn). The share closed up at 105.25.
NEGATIVE
Diversified Financials
Sri Lanka's CEB submits electricity price revision to PUCSL
11-Jun-24
Energy
Proposal for reductions on energy charges for domestic, religious, general purpose and government sectors
Sri Lanka's CEB submits electricity price revision to PUCSL Proposal for reductions on energy charges for domestic, religious, general purpose and government sectors
NEGATIVE
Utilities
Sri Lanka's MAS Holdings signs agreement to buy Ambercycle material
11-Jun-24
Apparel
Three-year offtake agreement to buy recycled material.
Sri Lanka's MAS Holdings signs agreement to buy Ambercycle material Three-year offtake agreement to buy recycled material.
NEUTRAL
Consumer Durables & Apparel
Sajith on sharing police, land powers: Will implement "13; not 13 minus or 13 plus"
11-Jun-24
Politics
"I was talking of 13 and not of 13 minus or 13 plus. It was about 13 that I spoke."
Sajith on sharing police, land powers: Will implement "13; not 13 minus or 13 plus" "I was talking of 13 and not of 13 minus or 13 plus. It was about 13 that I spoke."
NEGATIVE
Commercial & Professional Services
Russia to stop recruiting Sri Lankans for Ukraine war: FM after meeting Lavrov
11-Jun-24
Business
Addressed issues concerning ex-Sri Lankan servicemen in the Russian military
Russia to stop recruiting Sri Lankans for Ukraine war: FM after meeting Lavrov Addressed issues concerning ex-Sri Lankan servicemen in the Russian military
NEGATIVE
Commercial & Professional Services
Sri Lanka draft MOUs with bilateral lenders being exchanged, clarified: State Minister
11-Jun-24
Economy
When they are submitted, they exchange it with their membership
Sri Lanka draft MOUs with bilateral lenders being exchanged, clarified: State Minister When they are submitted, they exchange it with their membership
NEGATIVE
Banks
Sri Lanka rupee opens weaker at 303.25/75 to US dollar
11-Jun-24
Bonds & Forex
Bond yields and stocks were up
Sri Lanka rupee opens weaker at 303.25/75 to US dollar Bond yields and stocks were up
NEGATIVE
Banks
Sri Lanka's CPC makes Rs120bn profit in 2023 after Rs884bn tax-payer injection
11-Jun-24
Economy
Govt takes over debt owed to state banks
Sri Lanka's CPC makes Rs120bn profit in 2023 after Rs884bn tax-payer injection Govt takes over debt owed to state banks
NEGATIVE
Energy
Any future Sri Lankan government will have to comply with IMF deal: Cabinet Spokesman
10-Jun-24
Economic Crisis
Sri Lanka is facing a political uncertainty due to elections later this year.
Any future Sri Lankan government will have to comply with IMF deal: Cabinet Spokesman Sri Lanka is facing a political uncertainty due to elections later this year.
NEGATIVE
Banks
SriLankan drops pepper & salt from economy class dish, makes on demand after survey
10-Jun-24
Aviation
Pepper & salt still served for business class passengers
SriLankan drops pepper & salt from economy class dish, makes on demand after survey Pepper & salt still served for business class passengers
NEGATIVE
Consumer Services
Sri Lanka's Vidullanka, SEL Tech to develop 4.9mw solar power plant in Hambantota
10-Jun-24
Energy
SEL Tech International (Pvt) Limited to jointly develop 4.9 MW Beliatha solar power
Sri Lanka's Vidullanka, SEL Tech to develop 4.9mw solar power plant in Hambantota SEL Tech International (Pvt) Limited to jointly develop 4.9 MW Beliatha solar power
POSITIVE
Utilities
Sri Lanka rupee closes weaker at 303.20/50 to US dollar
10-Jun-24
Bonds & Forex
Bond yields were broadly stable.
Sri Lanka rupee closes weaker at 303.20/50 to US dollar Bond yields were broadly stable.
POSITIVE
Banks
Sri Lanka to send 6,000 workers to Japan
10-Jun-24
Employment
“We are sending caregivers, construction workers, and workers in the agriculture sector to Japan,”
Sri Lanka to send 6,000 workers to Japan “We are sending caregivers, construction workers, and workers in the agriculture sector to Japan,”
POSITIVE
Commercial & Professional Services
Sri Lanka stocks close up ahead of IMF review
10-Jun-24
Stocks & Companies
Turnover was 1.6 billion. A large part of this came from capital goods stocks (Rs734mn).
Sri Lanka stocks close up ahead of IMF review Turnover was 1.6 billion. A large part of this came from capital goods stocks (Rs734mn).
NEGATIVE
Capital Goods
Sri Lanka, Bangladesh discuss FTA, agriculture modernization, ferry and private investment
10-Jun-24
Business
Hasina pledged to direct private investors from Bangladesh towards investment opportunities in Sri Lanka
Sri Lanka, Bangladesh discuss FTA, agriculture modernization, ferry and private investment Hasina pledged to direct private investors from Bangladesh towards investment opportunities in Sri Lanka
POSITIVE
Commercial & Professional Services
Divesting SOEs can generate greater profits through taxation: Sri Lanka restructuring unit
10-Jun-24
Fiscal
"Taxes yield greater benefit to the public with far less financial cost and resources,"
Divesting SOEs can generate greater profits through taxation: Sri Lanka restructuring unit "Taxes yield greater benefit to the public with far less financial cost and resources,"
NEGATIVE
Diversified Financials
Sri Lanka, India reaffirm commitment to strengthening ties
10-Jun-24
International Relations
"Sri Lanka is an important partner in our Neighbourhood First policy. India is proud to be a dependable partner"
Sri Lanka, India reaffirm commitment to strengthening ties "Sri Lanka is an important partner in our Neighbourhood First policy. India is proud to be a dependable partner"
POSITIVE
Commercial & Professional Services
Sajith says SJB government will implement Sri Lanka's 13th amendment
10-Jun-24
Politics
"The people say enough talk, make it happen."
Sajith says SJB government will implement Sri Lanka's 13th amendment "The people say enough talk, make it happen."
POSITIVE
Commercial & Professional Services
Sri Lanka will be able to better penetrate India market with ECTA: ILCCI chief
10-Jun-24
Business
"This is a golden opportunity for us to integrate our economies"
Sri Lanka will be able to better penetrate India market with ECTA: ILCCI chief "This is a golden opportunity for us to integrate our economies"
POSITIVE
Commercial & Professional Services
Fitch rates Sri Lanka's Commercial Bank 20bn debenture issue 'BBB+(lka)'
10-Jun-24
Stocks & Companies
The rating is two notches below the bank's National Long-Term Rating anchor
Fitch rates Sri Lanka's Commercial Bank 20bn debenture issue 'BBB+(lka)' The rating is two notches below the bank's National Long-Term Rating anchor
NEGATIVE
Banks
Sri Lanka tea prices fall for third consecutive week
10-Jun-24
Business
Highest priced teas fall
Sri Lanka tea prices fall for third consecutive week Highest priced teas fall
NEGATIVE
Food, Beverage & Tobacco
Sri Lanka's CAL enhances digital platform for stocks, Treasuries, unit trusts
10-Jun-24
Bonds & Forex
A dummy investment tool to simulate investments is also provided
Sri Lanka's CAL enhances digital platform for stocks, Treasuries, unit trusts A dummy investment tool to simulate investments is also provided
POSITIVE
Diversified Financials
Sri Lanka rupee opens at 302.80/95 to US dollar
10-Jun-24
Bonds & Forex
Bond yields were broadly steady
Sri Lanka rupee opens at 302.80/95 to US dollar Bond yields were broadly steady
POSITIVE
Banks
Sri Lanka Ports Authority cadre slashed, makes payment to Treasury
10-Jun-24
Economy
Makes Rs8.6bn levy to the Treasury to settle earlier dues
Sri Lanka Ports Authority cadre slashed, makes payment to Treasury Makes Rs8.6bn levy to the Treasury to settle earlier dues
NEGATIVE
Transportation
Sri Lanka central bank avoids negative equity with imputed values for restructured bonds
9-Jun-24
Economy
Step down re-structured bond are not traded
Sri Lanka central bank avoids negative equity with imputed values for restructured bonds Step down re-structured bond are not traded
NEGATIVE
Banks
Trupti Mehta A Pioneer in Winning Land Rights for Indigenous Communities
9-Jun-24
Political News
The road to that change has neither been easy, nor short
Trupti Mehta – A Pioneer in Winning Land Rights for Indigenous Communities The road to that change has neither been easy, nor short
POSITIVE
Commercial & Professional Services
Sri Lanka's gross forex reserves marginally down in May
8-Jun-24
Economy
Though gross reserves fell, it is not clear whether net reserves fell
Sri Lanka's gross forex reserves marginally down in May Though gross reserves fell, it is not clear whether net reserves fell
NEGATIVE
Banks
Sri Lanka, Maldives to increase ties in trade, tourism, energy
8-Jun-24
Trade
Maldives wants to recruit Sri Lankan teachers and doctors
Sri Lanka, Maldives to increase ties in trade, tourism, energy Maldives wants to recruit Sri Lankan teachers and doctors
NEGATIVE
Commercial & Professional Services
Sri Lankas May tourism revenue rise 54-pct, arrivals up 35-pct
8-Jun-24
Tourism
VFS Global expensive visa entry fee is widely expected to hit future arrivals, revenue
Sri Lanka’s May tourism revenue rise 54-pct, arrivals up 35-pct VFS Global expensive visa entry fee is widely expected to hit future arrivals, revenue
NEUTRAL
Consumer Services
Sri Lanka May 2024 remittances rise 13.5-pct to $544mn
8-Jun-24
Economy
Remittances have improved after the central bank gave up parallel exchange rate policy
Sri Lanka May 2024 remittances rise 13.5-pct to $544mn Remittances have improved after the central bank gave up parallel exchange rate policy
POSITIVE
Banks
Sri Lankas anti-graft body challenges Public Financial Management Bill in Supreme Court
7-Jun-24
Courts
Bill's procurement provisions violate sovereignty of people right to equal protection of the law: TISL
Sri Lanka’s anti-graft body challenges Public Financial Management Bill in Supreme Court Bill's procurement provisions violate sovereignty of people right to equal protection of the law: TISL
NEGATIVE
Commercial & Professional Services
Sri Lanka tourist promotion officials reject VFS Global half million dollar offer: Harin
7-Jun-24
Business
We said we cannot do that
Sri Lanka tourist promotion officials reject VFS Global half million dollar offer: Harin We said we cannot do that
NEGATIVE
Consumer Services
Sri Lanka rupee closes stronger at 302.70/80 to US dollar
7-Jun-24
Bonds & Forex
Bond yields were steady.
Sri Lanka rupee closes stronger at 302.70/80 to US dollar Bond yields were steady.
POSITIVE
Banks
Vietnam envoy pays farewell call on Sri Lanka Prime Minister
7-Jun-24
International Relations
Sri Lanka and Vietnam have the potential for closer engagement, Truc has said.
Vietnam envoy pays farewell call on Sri Lanka Prime Minister Sri Lanka and Vietnam have the potential for closer engagement, Truc has said.
NEUTRAL
Commercial & Professional Services
Sri Lanka Chamber commends Electricity Law, cautions on regulator autonomy
7-Jun-24
Power
Expected to enhance efficiency, promote competition, and attract much-needed investment into the electricity sector
Sri Lanka Chamber commends Electricity Law, cautions on regulator autonomy Expected to enhance efficiency, promote competition, and attract much-needed investment into the electricity sector
POSITIVE
Utilities
Sri Lanka stocks close up, buying interest picks up
7-Jun-24
Stocks & Companies
Turnover was 1.2 billion. A large part of this came from banking stocks (Rs574mn).
Sri Lanka stocks close up, buying interest picks up Turnover was 1.2 billion. A large part of this came from banking stocks (Rs574mn).
NEGATIVE
Banks
Sri Lanka looks to remove obstacles in toddy export
7-Jun-24
Agriculture
Large market abroad for toddy, kithul, palm and coconut related products.
Sri Lanka looks to remove obstacles in toddy export Large market abroad for toddy, kithul, palm and coconut related products.
POSITIVE
Food, Beverage & Tobacco
Sri Lanka COPF chief under threat over VFS Global deal probe
7-Jun-24
Business
Members representing the government are threatening him when he is examining the VFS deal
Sri Lanka COPF chief under threat over VFS Global deal probe Members representing the government are threatening him when he is examining the VFS deal
NEUTRAL
Commercial & Professional Services
Sri Lanka Police try humour to get message across social media
7-Jun-24
Security
A series of tweets with popular culture references
Sri Lanka Police try humour to get message across social media A series of tweets with popular culture references
NEUTRAL
Commercial & Professional Services
Sri Lanka's Lankem to open fertilizer plant
7-Jun-24
Agriculture
Commercial operations are expected to commence by the end of the year.
Sri Lanka's Lankem to open fertilizer plant Commercial operations are expected to commence by the end of the year.
POSITIVE
Materials
Sri Lanka eyes mammoth 4,000 workforce to man elephant fences
7-Jun-24
Agriculture
Looking to recruit a new workforce of at least 4,000 multipurpose development officers
Sri Lanka eyes mammoth 4,000 workforce to man elephant fences Looking to recruit a new workforce of at least 4,000 multipurpose development officers
NEGATIVE
Commercial & Professional Services
Sri Lanka rupee opens stronger at 302.55/65 to US dollar
7-Jun-24
Bonds & Forex
In the secondary market, yields were slightly down, dealers said.
Sri Lanka rupee opens stronger at 302.55/65 to US dollar In the secondary market, yields were slightly down, dealers said.
NEGATIVE
Banks
IMF says Sri Lanka has made "sufficiently strong progress" on debt for June review
7-Jun-24
Economy
Discussions with external bondholders continue with the aim of reaching agreements in principle soon
IMF says Sri Lanka has made "sufficiently strong progress" on debt for June review Discussions with external bondholders continue with the aim of reaching agreements in principle soon
POSITIVE
Banks
Sri Lanka legislators slam 49 renewables plants without tender, Adani deal
7-Jun-24
Energy
Mannar competitive tender halted
Sri Lanka legislators slam 49 renewables plants without tender, Adani deal Mannar competitive tender halted
NEGATIVE
Utilities
Sri Lanka's Hatton National Bank 'A(lka)' rating confirmed, ISB assets 10-pct
6-Jun-24
Stocks & Companies
HNB's high risk profile, similar to peers, stems from its large exposure to sovereign risk
Sri Lanka's Hatton National Bank 'A(lka)' rating confirmed, ISB assets 10-pct HNB's high risk profile, similar to peers, stems from its large exposure to sovereign risk
NEGATIVE
Banks
Sri Lanka's Commercial Bank 'A(lka)' rating confirmed: ISB assets 7-pct
6-Jun-24
Banking
The bank's impaired loan ratio broadly remained unchanged in the first quarter of 2024 11.4-pct at end-2023.
Sri Lanka's Commercial Bank 'A(lka)' rating confirmed: ISB assets 7-pct The bank's impaired loan ratio broadly remained unchanged in the first quarter of 2024 11.4-pct at end-2023.
NEGATIVE
Banks
Sri Lanka to allocate foreign job quota for retired soldiers after deaths in Russia-Ukraine war
6-Jun-24
Defence
Sri Lanka has been trying to bring back retired military personnel who have joined Russian-Ukraine war for money
Sri Lanka to allocate foreign job quota for retired soldiers after deaths in Russia-Ukraine war Sri Lanka has been trying to bring back retired military personnel who have joined Russian-Ukraine war for money
NEUTRAL
Commercial & Professional Services
Sri Lanka Bank of Ceylon 'A(lka)' rating confirmed
6-Jun-24
Stocks & Companies
About 60 percent of bank assets were exposed to the sovereign risk profile.
Sri Lanka Bank of Ceylon 'A(lka)' rating confirmed About 60 percent of bank assets were exposed to the sovereign risk profile.
NEGATIVE
Banks
Sri Lanka parliament passes new electricity law
6-Jun-24
Energy
103 votes in favour
Sri Lanka parliament passes new electricity law 103 votes in favour
POSITIVE
Utilities
Sri Lanka's Hatton National Bank 'A(lka)' rating confirmed, ISB assets 10-pct
6-Jun-24
Stocks & Companies
HNB's high risk profile, similar to peers, stems from its large exposure to sovereign risk
Sri Lanka's Hatton National Bank 'A(lka)' rating confirmed, ISB assets 10-pct HNB's high risk profile, similar to peers, stems from its large exposure to sovereign risk
NEGATIVE
Banks
Sri Lanka's Commercial Bank 'A(lka)' rating confirmed: ISB assets 7-pct
6-Jun-24
Banking
The bank's impaired loan ratio broadly remained unchanged in the first quarter of 2024 11.4-pct at end-2023.
Sri Lanka's Commercial Bank 'A(lka)' rating confirmed: ISB assets 7-pct The bank's impaired loan ratio broadly remained unchanged in the first quarter of 2024 11.4-pct at end-2023.
NEGATIVE
Banks
Sri Lanka to allocate foreign job quota for retired soldiers after deaths in Russia-Ukraine war
6-Jun-24
Defence
Sri Lanka has been trying to bring back retired military personnel who have joined Russian-Ukraine war for money
Sri Lanka to allocate foreign job quota for retired soldiers after deaths in Russia-Ukraine war Sri Lanka has been trying to bring back retired military personnel who have joined Russian-Ukraine war for money
NEGATIVE
Commercial & Professional Services
Sri Lanka Bank of Ceylon 'A(lka)' rating confirmed
6-Jun-24
Stocks & Companies
About 60 percent of bank assets were exposed to the sovereign risk profile.
Sri Lanka Bank of Ceylon 'A(lka)' rating confirmed About 60 percent of bank assets were exposed to the sovereign risk profile.
NEGATIVE
Banks
Sri Lanka parliament passes new electricity law
6-Jun-24
Energy
103 votes in favour
Sri Lanka parliament passes new electricity law 103 votes in favour
POSITIVE
Utilities
Minister calls out opposition hypocrisy on Sri Lanka electricity reforms
6-Jun-24
Economy
The minister also said the new electricity reform bill will result in the disappearance of utilities unions.
Minister calls out opposition hypocrisy on Sri Lanka electricity reforms The minister also said the new electricity reform bill will result in the disappearance of utilities unions.
NEGATIVE
Utilities
Sri Lanka's People's Bank 'A' (lka) rating confirmed, bad loans reduce: Fitch
6-Jun-24
Stocks & Companies
Peoples' Bank only had a small exposure to defaulted sovereign dollar bonds.
Sri Lanka's People's Bank 'A' (lka) rating confirmed, bad loans reduce: Fitch Peoples' Bank only had a small exposure to defaulted sovereign dollar bonds.
NEGATIVE
Banks
Sri Lanka rupee closes weaker at 302.80/303.10 to US dollar
6-Jun-24
Bonds & Forex
Bond yields were up.
Sri Lanka rupee closes weaker at 302.80/303.10 to US dollar Bond yields were up.
NEGATIVE
Banks
Sri Lanka seeks employment for seamen on Greek ships
6-Jun-24
Economic Crisis
PM seeks employment opportunities for Sri Lankans with shipping companies.
Sri Lanka seeks employment for seamen on Greek ships PM seeks employment opportunities for Sri Lankans with shipping companies.
NEUTRAL
Transportation
Sri Lanka stocks close up, bank shares fare well
6-Jun-24
Stocks & Companies
Turnover was 1.5 billion. A large part of this came from the bank (Rs662mn) stocks.
Sri Lanka stocks close up, bank shares fare well Turnover was 1.5 billion. A large part of this came from the bank (Rs662mn) stocks.
NEGATIVE
Banks
Sri Lanka president starts political office as polls near
6-Jun-24
Politics
The office will serve as the center for future political operations
Sri Lanka president starts political office as polls near The office will serve as the center for future political operations
NEUTRAL
Commercial & Professional Services

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