Sri Lanka’s mid market shoots up over 3 percent

2 months ago Economy Next

ECONOMYNEXT – Sri Lanka’s banks may need more regulatory forbearance ex-Central Bank Governor Indrajit Coomaraswamy said as the country imposes stabilization measures after the worst currency crisis since independence. They have given some already.”Sri Lanka’s central bank has given some regulatory loosening in the mark to market losses and also in liquidity ratios. Sri Lanka’s banks are seeing higher levels of bad loans after the latest currency crisis as well as mark-to-market losses, and the impact of dollar sovereign bonds in default. Sri Lanka’s stage 3 loans were 7.9 percent of total advances (net 8.7) by the end of the second quarter of 2022. After Sri Lanka default in April and interest rates were normalized to stop the currency crisis, banks were now facing pressure.
Continue reading...

Read On "Economy Next"

More News On "Economy Next"

New Zealand Prime Minister Jacinda Arden to step down in February

While liquidity shortages beyond a certain point has no value, care should be taken to ensure that excess liquidity conditions do not re-emerge. As a result, a few foreign banks ended up with over 300 billion rupees of excess cash. A third reason for expanding liquidity shortages was the roll-over of central bank held Treasury bills (zero coupon bonds) with interest. Any of foreign bank money, or newly injected money that is used to buy Treasury bills will end up in state banks. Liquidity shortages lose their value beyond a certain point, so the recent injections would may not be harmful.

16 days ago Economy Next

Sri Lanka key current inflows exceed imports for fourth month in Sept

The logic behind a apolitical permanent public service in Britain was set out in Northcote Trevalyan report of 1854. A more efficient and productive public sector is an absolute need in driving forward Sri Lanka’s economic recovery. In this regard, complimenting the on-going efforts towards public sector reform, the Steering Committee on Public Sector Reforms of the Ceylon Chamber of Commerce recently presented a set of proposals to the policy makers. The identified proposals aimed to ensure formal checks and balances within the public sector, and improve efficiency in order to transform the public sector into a people centric arm of the state. Digitization of government activities too can drastically reduce the public service cadre particularly in the primary and secondary cadre categories.

2 months ago Economy Next

UN human rights office welcomes Supreme Court order on Sri Lanka Easter bombings

16 days ago Economy Next

Sri Lanka critical on independence day, opportunity to rectify our errors: President

ECONOMYNEXT – Sri Lanka going though a critical time as the 75th anniversary of independence from British rule is being marked on February 04, President Ranil Wickremesinghe has said. “Our 75th Anniversary of Independence from colonial rule is being observed during an extremely critical and challenging time in the country,” he said in an independence day message. Sri Lanka got independence from the British on February 04, 1948. Sri Lanka joined the IMF the next day, on August 29. In 2005 Sri Lanka got market access.

17 hours ago Economy Next

In Georgia, Candidates for Governor Clash on Education Issues

As the contest for governor of Georgia heads into the home stretch, the Democratic candidate, Stacey Abrams, is releasing a campaign commercial showing her in a classroom with children. And the liveliest Georgia statewide race about education issues may not be the one for governor, but the one for state school superintendent. The Georgia Association of Educators, the state affiliate of the National Education Association teachers union, has endorsed the Republican incumbent, Richard Woods. Some statewide election polling hasn’t even included education on a list of issues voters were asked about as possible priorities. A July Fox News Poll on the Georgia Senate race did include education as an issue.

3 months ago Education Next

EL Salvador Passes Landmark Bill to Launch Bitcoin Bonds

EL Salvador Passes Landmark Bill to Launch Bitcoin BondsPlease note that we are not authorised to provide any investment advice. El Salvador made headlines almost two years ago when the country adopted Bitcoin as an official legal tender. Long-Awaited Bitcoin Bonds on the WayEarlier this week, the National Bitcoin Office of El Salvador announced that the country’s parliament had passed a landmark legislation that would pave the way for the issuance of Bitcoin bonds. 3/ El Salvador is the epicenter of Bitcoin adoption, and thus, economic freedom, financial sovereignty, censorship resistance & unconfiscatable wealth. Data from Bloomberg Economics also shows that El Salvador is one of the top market economies vulnerable to debt default.

23 days ago Economy Watch

Who is Tony Danza’s Son Marc Anthony Danza?

Early Life of Marc Anthony DanzaMarc Anthony Danza was born on January 29, 1971, as Marc Anthony Ladanza. Marc Anthony Danza is the son of Tony Danza and Danza’s first marriage was to Rhonda Yeoman. Marc Anthony Danza CareerMarc Anthony Danza had a career full of ups and downs in his life. In 2008, Tony Danza and his son Marc Anthony Danza co-authored the cookbook, Don’t Fill Up on the Antipasto: Tony Danza’s Father-Son Cookbook. Marc Anthony Danza Personal LifeMarc Anthony Danza is a married man.

1 month ago Next biography

BREAKING NEWS

9 minutes ago - Eyes on the sky as Chinese balloon shot down over Atlantic 17 minutes ago - Chinese Surveillance Balloon Shot Down By F-22 After Crossing the US 17 minutes ago - "Next man up mentality" leads Hofstra to win over Stony Brook — The Hofstra Chronicle 21 minutes ago - Three Things: Indiana Men’s Basketball beats Purdue 79-74 25 minutes ago - Neal Maupay rattles Arsenal again as striker squares up to Granit Xhaka and Oleksandr Zinchenko in repeat of Matteo Guendouzi clash, as Everton stun Premier League leaders at Goodison Park 26 minutes ago - With young son in tow, Alex Ovechkin relishes a memorable All-Star Game 30 minutes ago - Vontobel Holding Ltd. Reduces Its Position in the iShares Global Clean Energy ETF (NASDAQ:ICLN). 38 minutes ago - US downs Chinese surveillance balloon over Atlantic Ocean 42 minutes ago - US fighter jet shoots down suspected Chinese spy balloon with missile 43 minutes ago - Everton stuns Arsenal and Liverpool’s EPL troubles deepen 44 minutes ago - MVP Matthew Tkachuk lifts Atlantic to NHL All-Star Game win 48 minutes ago - How to Watch ‘Derrick Lewis vs. Serghei Spivac’ Online – Live Stream the UFC Fight Night Match! 48 minutes ago - ESPN+ Streams to Watch Amanda Serrano vs. Erika Cruz for free? Live streams for 2023 boxing fight 50 minutes ago - US shoots down airship over Atlantic 59 minutes ago - Australia news live: voice referendum ‘will have no impact on the issue of sovereignty’, Albanese says 1 hour ago - ‘We made enough from selling the house we renovated to buy a bigger one 500m away’ 1 hour ago - MMA pioneer Fedor Emelianenko retiring after Bellator title fight 1 hour ago - WWE NXT Vengeance Day Results – February 4, 2023 1 hour ago - Tyrus Explains Why He Has The Advantage Over Matt Cardona At NWA Nuff Said 1 hour ago - US downs Chinese balloon, a flashpoint in US-China tensions 1 hour ago - Final ! Overdrive Racing's Al-Attiyah and Yacopini finish first and second in Saudi Baja Hail 1 hour ago - IAS officer KK Pathak's 2nd abusive video goes viral 1 hour ago - Reuters Sports News Summary 1 hour ago - Wrestling: Massabesic, Wells win dual meet state championships 1 hour ago - Moyes: Rice would blow British transfer record out of the water 1 hour ago - Prep basketball/soccer: Stats and scores from Feb. 3-4 - American Press 1 hour ago - Morrissey beats Cronin in All Irish Classic 1 hour ago - Cédric Cherain leader, François Delecour unlucky -full results 1 hour ago - Barcelona, AC Milan, Atletico 'make Pierre-Emerick Aubameyang enquiries' 1 hour ago - Priscilla Gneto takes gold this time in Paris 1 hour ago - WA shark attack: Swan River swimmer reveals final moments of girl before 1 hour ago - U.S. fighter jet shoots down suspected Chinese spy balloon with missile 1 hour ago - Latina Entrepreneurs Help People Find Ways to Wellness 1 hour ago - 'I would have that person fired': Megyn Kelly blasts Don Lemon for allegedly screaming at Kaitlan Collins 1 hour ago - U.S. fighter jet shoots down suspected Chinese spy balloon with missile By Reuters 1 hour ago - Vanessa Feltz confirms split from fiancé Ben Ofoedu after 16 years 1 hour ago - 🌱 Woman Shot On Lakeshore Crossing + Man Stabbed On Peeples Street 1 hour ago - Spy balloon: US military has shot down the Chinese surveillance balloon off US 1 hour ago - Knights Outlast Hobart In Overtime, 91-82 1 hour ago - Mum forced to turn off heating and stuff son's clothes with hot water bottles 1 hour ago - Armie Hammer breaks two-year silence following sexual abuse allegations 1 hour ago - SiriusXM Host Nicole Ryan Hospitalized After Being 'Seriously Injured' by Car While on a Scooter 1 hour ago - Everton stuns Arsenal and Liverpool’s troubles deepen 1 hour ago - Full list of winners and stoppages from UFC Fight Night on Saturday, February 4 [VIDEO] 1 hour ago - Lionel Messi sends clear message to Cristiano Ronaldo in GOAT debate after PSG stunner 1 hour ago - Canadians Felix Roussel and Courtney Sarault win World Cup bronze in Dresden 2 hours ago - "Gold mine": Europe looks to geothermal energy as gas alternative 2 hours ago - WA shark attack: Swan River swimmer reveals final moments of girl before she was mauled to death 2 hours ago - ‘Hollywood Cat’ P-22’s celebration of life packs Greek Theater 2 hours ago - The Russia–Ukraine War, and America’s War Economy Pipa News 2 hours ago - US fighter jets shoot down Chinese spy balloon off East Coast 2 hours ago - Chinese balloon live updates: Balloon shot down, search for debris underway 2 hours ago - NHL commissioner Gary Bettman says tweaking playoff format not as simple as it sounds 2 hours ago - Sand from Tom Brady's retirement video being auctioned on eBay for $100,000 2 hours ago - Football: Tarkowski goal sinks Arsenal 2 hours ago - The Ocean Race Leg 2 Day 11: Around the outside 2 hours ago - JASON WHITE: Duhan van der Merwe's powerful running vs England was reminiscent of a prime Jonah Lomu 2 hours ago - 'What A S****Y Comment' -- Viewers Slam Tommy Tiernan's Opening Question To Fair City Stars 2 hours ago - Arsenal upset blows title race wide open 2 hours ago - Introduction to Amorphous Boron Powder