Category: Economy and Markets
VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy. Unless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governorhttps://youtu.be/63ldwnrRsuA
CSE to extend trading hours; revise index calculation methodology of ASPI
The Colombo Stock Exchange (CSE) is revising the index calculation methodology of the All Share Price Index (ASPI) from full market capitalization-weighting to free float-adjusted Market Capitalization weighting. The Index methodology has been published on the CSE website.The Implementation of the said revision is scheduled to take place on 24 January 2022 (with effect from […]
Sri Lanka expects USD 2bn SWAP facilities from Middle Eastern & other regional central banks
The Central Bank says that the measures being taken at present will ensure that by end of 2021 official reserves will remain above US dollars 3 billion. Releasing a statement, the bank said that major foreign exchange inflows to the Central Bank include SWAP facilities with Middle Eastern and other regional central banks amounting to […]
Joint Chambers express concern on impact of currency shortage; request to engage with IMF
Statement issued by the following Institutions: We wish to draw the attention of the Government to the difficulties faced by our member companies and the broader private sector in obtaining foreign currency to finance much needed imports due to the prevailing situation with regard to the lack of availability of foreign currency. This will affect […]
‘s exports expected to surpass USD 12bn by end 2021; records USD 1.2bn in November
Sri Lanka’s merchandise exports increased by 55.11% to US$ 1,215.6 Million in November 2021 compared to November 2020 as per the data released by the Sri Lanka Customs. Exports maintained above one billion dollars for the fifth consecutive month in November this year. EDB Chairman & CE, Suresh D. de Mel said, “Sri Lanka’s exports […]
Sri Lanka headline inflation increased to 11.1-pct in November
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index, increased to 11.1 percent in November 2021 from 8.3 percent in October 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 16.9 percent in November 2021 from 11.7 […]
John Keells Foundation’s “Break the Silence” public campaign targets domestic violence
John Keells Foundation conducted a two-week public campaign against gender-based violence under its Project WAVE (Working Against Violence through Education). This year’s campaign sustained last year’s theme of ‘Break the Silence’ with a special focus on Domestic Violence in the context of reported surge in complaints received on hotlines during the pandemic. The overall objective […]
Planters’ Association condemns politically-connected land encroachments at Madampe Estate
The Planters’ Association of Ceylon (PA) strongly condemned a recent incident of forceful and illegal encroachments of estates managed by the Regional Plantation Companies (RPCs), and called on the Government and law enforcement officials to uphold the rule of law in RPC estates. The statement was a response to an incident on 6 December 2021, […]
Hela Apparel Holdings set for landmark IPO
The Colombo Stock Exchange has formally approved the Initial Public Offering (IPO) of Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group), with the offer set to open on Wednesday 12th January. This highly anticipated IPO, by one of Sri Lanka’s leading social-capital focused apparel supply chain solution providers, will see 267,108,998 […]
Intensive Care Unit at Udugama Hospital opens to public soon
Watawala Plantation Limited announces the opening of its newly built fully equipped Intensive Care Unit at the Udugama Base Hospital in the Galle District under the guidance of the Ministry of Health, which will be open to the Public at the auspicious time on Wednesday, December 22, 2021. The project led by Watawala Plantations Ltd […]
ADB partners with JKH to boost food value chains and farm livelihoods in SL
The Asian Development Bank (ADB) entered into an agreement to invest up to $80 million (in Sri Lanka rupee equivalent) in John Keells Holdings PLC (JKH) to boost the country’s food value chain and promote economic growth and job creation. The investment will be a two-phase private placement to support the expansion of JKH’s modern retail and distribution […]
Co-operative Insurance opens Initial Public Offering
Leading Sri Lankan insurer Co-operative Insurance, recently announced the date of their Initial Public Offering (IPO), which is set to take place on the 20th of December, 2021. The IPO will be managed by the Merchant Bank of Sri Lanka. Affirming its financial strength, the company, which secured a strong financial performance for the past […]