Wednesday, July 29 2026
Wednesday, July 29 2026
MONETABRIEF – Sri Lanka's John Keells Holdings said it had tied up with Wendy's, a quick service restaurant chain, and plans to open the first restaurant by December.
"The Group's Consumer Foods portfolio will diversify and expand into Sri Lanka's Quick Service Restaurant (QSR) segment during this financial year, through a wholly owned subsidiary of JKH, John Keells Restaurants (Private) Limited," John Keells Holding Chairman Krishan Balendra told shareholders in the quarterly review.
"The entry into the QSR segment reflects our confidence in the long-term growth potential of the organised QSR market and complements the existing consumer food portfolio by catering to different consumer segments and consumption occasions."
The announcement comes as Sri Lanka's central bank ended two years of monetary stability by busting the rupee from 300 to 335 and driving up inflation to 6.8 by June after cutting rates, injecting money through swaps and dollar purchases and then denying convertibility.
Inflation went to 6.8 percent by June as the rupee collapsed.
Though food and energy prices rise when currency collapse, wages lag (Cantillon effect) initially giving some profits to producers through consumer purchasing power is diminished and national debt rises.
John Keells Holdings reported exchange loss of 3.72 billion rupees at Waterfront Properties as the central bank busted the rupee, and the national debt rose despite people paying enough taxes for the government to run a budget surplus.
Unlike private companies, the fiscal account do not show a forex loss, and central banks usually escape accountability for monetary debasement saying that inflation will push up revenues, through costs catch up later. (Colombo/July28/2028)
| US Dollar | 340.98 | Sell - |
| Euro | 391.44 | Sell - |
| Japan Yen | 2.114 | Sell - |
| Sterling | 458.31 | Sell - |
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| Gold | $4035 | - - |
| ASPI | 21,199.37 | 49.8 ▲ |
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