Category: Economy and Markets
JAT Receives CIDA Accreditation, Enjoys LKR 1 Bn in Confirmed Specialized Interior Projects
JAT Holdings PLC, the market leader for wood coatings in Sri Lanka, was recently accredited with the coveted CIDA SP 01 Certification. The Construction Industry Development Authority (CIDA) is the national body responsible for working towards enhancing the competence and reliability of Sri Lanka’s construction industry and bringing it on par with global standards. The […]
Opinion: Avoiding IMF won’t help us avoid austerity
Naqiya Shiraz and Rehana Thowfeek Sri Lanka’s debt problems are a topic of national conversation. Foreign reserves, already low at USD 4bn in May 2021 fell to USD 2.8bn after the most recent bond repayment of USD 1bn in July 2021 . The Government claims that the timely repayment of the bond is proof that doomsayers […]
‘s headline inflation increased to 6.8-pct in July 2021
Headline inflation, as measured by the National Consumer Price Index has increased to 6.8 percent in July 2021 from 6.1 percent in June 2021 driven by the monthly increases of prices of items in both Food and Non-food categories. Accordingly, Food inflation (Y-o-Y) increased to 11.0 percent in July 2021 from 9.8 percent in June […]
ASPI surpasses fair value; reduce equity exposure to 65-pct: First Capital Research
With the ASPI surging past the 8,000 mark for the 2nd time in 2021 and taking into account the economic uncertainties that exist, First Capital Research recommends reducing equity exposure to 65% from the current 90% raising cash allocation to 35% from 10%. First Capital Research believe that the fair value for the ASPI stands […]
First Capital Implements Digital Onboarding for Unit Trusts & Govt Securities for first time in SL
Breaking barriers in the non-bank financial services space, First Capital introduces ’digital onboarding’ to facilitate non-face-to-face Account Opening for Unit Trusts and Government Securities clients for the first time in Sri Lanka. Together with the Stock Brokering arm that facilitate digital onboarding through the CSE Mobile App, the Company offers a fully integrated digital account […]
Full speech: President Gotabaya Rajapaksa’s special address to nation
The Most Venerable Maha Sangha, Religious Leaders of other faiths, Friends, The accepted opinion of the World Health Organization (WHO), the majority of medical experts and according to the global standardized methodology is that the vaccination is the only solution for the COVID-19 pandemic. That is why, I made a special commitment to bring in […]
Sri Lanka’s exports surpassed USD 1bn mark in July after four months
Sri Lanka’s exports have surpassed the $ 1 billion mark in July after four months’ time period where a similar achievement was recorded in March during this year. As per the figures released by the Sri Lanka Customs, Sri Lanka recorded exports worth US$ 1,099.41 million in July 2021, the highest ever monthly achievement, which […]
No new restrictions for making payments in foreign exchange on credit or debit cards: Central Bank
The public is informed that the Central Bank has not introduced any new restrictions on the use of EFTCs, i.e., credit cards, debit cards and other stored value cards, and holders of such cards are permitted to use them to make payments to persons resident outside Sri Lanka in respect of current transactions of personal […]
Companies mobilize over Rs 75Bn in first 7 months of 2021 via capital market: CSE
The Colombo Stock Exchange (CSE) has showcased a strong growth trajectory in Capital Raising by Sri Lankan corporates of all scales during the first 7 months of 2021. To date, the CSE has facilitated 12 new listings, including 07 debt IPOs with a value of LKR 47.29 Bn, 04 equity IPOs with a value of […]
CBSL tightens monetary policy to curb inflationary pressures; rectify external sector imbalances
Sri Lanka’s Central Bank has tightened its monetary policy stance to address the imbalances in the external sector and to preempt the buildup of excessive inflationary pressures over the medium term. Accordingly, the Monetary Board of the Central Bank has decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate […]
IFC & Hemas Pioneer New Digital Health Program to Boost Access to Affordable Health-Care Services
Sri Lanka will become the first country to benefit from an IFC global initiative designed to boost access to affordable and quality health-care through digital technology across the region—amid increased demand for services in the wake of COVID-19. IFC’s new upstream initiative, the Global Digital Health Platform (DigiHealth), will begin in Sri Lanka with the […]
Licensed Banks have not been asked to “Devalue” Sri Lanka Rupee: Central Bank
The Central Bank said it has observed messages being circulated claiming that licensed banks have been officially asked to devalue the Sri Lanka rupee with immediate effect. “The general public is hereby informed that there is no basis whatsoever for such claims, and the CBSL has not made any change to its stance or the […]