Kosala M Dissanayake appointed chairman of Union Chemicals Lanka https://lnkd.in/g-23HD2e
EconomyNext
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We report on financial markets, the economy, public policy and politics in Sri Lanka.
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EconomyNext is a unique blend of news, analysis and opinion on the economy, markets, public policy and politics from our newsroom in Colombo, Sri Lanka. Our reporting is forward looking and grounded in a strong classical liberal foundation embracing values of justice, rule of law, individual freedom, free trade, free enterprise, property rights and sound money. Economy Next is run by an independently owned, private company with no affiliation to any political party or religious organisation. It is funded through advertising. Link in Bio👇 linkin.bio/economynext
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Updates
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Last month France-based Michelin said it was selling two plants in Sri Lanka that made bias tyres and tracks for compact construction equipment to India’s CEAT group. https://lnkd.in/gaCi3U6H
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Sri Lanka stocks have been on a bull run amid low interest rates and banks awash in excess liquidity in the last quarter making margin loans cheap. https://lnkd.in/ggeH3MFD
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Dr Lasantha Karunasekara has been appointed chief executive officer of Ceylon Hospitals PLC, as well as Durdans Medical and Surgical Hospital (Pvt) Ltd, effective January 1, the company said. https://lnkd.in/gAgUs6rM
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Transitioning entrenched industry practices will be challenging for businesses, from SMEs to large-scale operators https://lnkd.in/ga5dqzw2
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Sri Lanka’s rupee opened weaker at 293.30/60 to the US dollar in the spot market, from 293.15/40 on Thursday, while bond yields remained stable, dealers said. https://lnkd.in/g9dm_bjD
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Analysts said confusion over the visa process from April-September this year could have slowed down arrivals https://lnkd.in/gjTezvBk
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Analysts cited the rise to more Sri Lankans travelling abroad amid economic recovery after the island nation’s sovereign debt default in 2022. https://lnkd.in/gJYnWzXm
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The injections then turn the balance of payments into deficit and the country loses the ability to repay foreign debt. https://lnkd.in/gh4cNKbE
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The country, however, witnessed foreign outflows worth 48.2 billion rupees. https://lnkd.in/g__zUNnZ
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