Category: Economy and Markets
June food prices increase by 14.3-pct: Advocata’s Bath Curry Indicator
June Food Prices Increase by 14.3–pct Advocata’s Bath Curry Indicator (BCI) which tracks the monthly changes in the price of food recorded a jump of 14.3% for the month of June 2021. The month of June experienced an increase in prices comparatively to the month of May, according to the basket of food tracked by […]
CEAT inflates radial tyre production to 600,000 units a year
CEAT Kelani Holdings has announced a production increase of 84,000 radial tyres per year for passenger cars and vans, in its second expansion in this segment within the past four months. The expansion will see Sri Lanka’s top tyre brand take annual radial tyre production to 600,000 – an increase of 16 per cent over […]
CSE to convert mobile app into a comprehensive investor platform under 2nd phase of digitalization
The Securities and Exchange Commission of Sri Lanka (SEC) along with the Colombo Stock Exchange (CSE) continues to drive digital advancement in Sri Lanka’s capital market with the launch of the second phase of the digitalization of the Stock Market recently under the patronage of President Gotabaya Rajapaksa. Following the Covid-19 outbreak in Sri Lanka […]
Former CEA Director General Muthukuda Arachchi joins H2O1 Board of Directors
July 2021 H2O One Pvt Ltd (H2O1) has announced that Mr. Muthukuda Arachchi the former Director General of Central Environmental Authority (CEA) has joined the board of Directors of H2O1. Muthukuda Arachchi is a highly experienced senior scientist counting over 30 years of experience in the industry. In addition to serving as the Director General […]
Sri Lanka seeks USD 150Mn loan from ADB for Responsive Vaccines for Recovery project
The Government of Sri Lanka is planning to borrow two loans amounting to USD 150 million from the Asian Development Bank (ADB) to implement the “Responsive COVID-19 Vaccines for Recovery (RECOVER) Project”. The proposed total financial assistance from ADB is comprised of USD 84 million under Asia Pacific Vaccine Access Facility (APVAX) and USD 66 […]
Sri Lanka’s official reserves remain at USD 4bn level by the end of June
Sri Lanka’s official reserves were 4 billion US dollars (USD 4,027.9mn) by the end of June, unchanged from 4 billion US dollars (USD 4,032.8mn) in May, the latest Central Bank data showed. This does not include the swap facility signed with the People’s Bank of China (PBoC) of RMB 10 bn (equivalent to approximately US$ […]
Local Companies permitted to invest in International Sovereign Bonds in Secondary Market
Sri Lanka’s Finance Minister has issued Regulations, with the approval of the Cabinet to permit companies incorporated in Sri Lanka excluding companies engaged in the finance business to purchase International Sovereign Bonds (ISBs) issued by the Government, in the secondary market. According to the above Regulations, companies can invest in ISBs utilizing 50% of the […]
CBSL expects 5-pct GDP growth in 2021; inflationary pressures to be addressed with policy intervention
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 percent and 5.50 percent, respectively. According to the Central Bank, the economy is likely to have recorded a higher than expected […]
SL Retailers’ Association urges for relief measures from PM
Sri Lanka Retailers Association (SLRA), the apex body of Sri Lanka’s Organised Retail Sector (ORS) consisting of last mile retailers, met Prime Minister Mahinda Rajapaksa on June 30 to address the issues and difficulties they are faced with due to COVID pressures in the country. Representatives of SLRA also requested Prime Minister to institute relief […]
Issue of Commemorative Coins to Mark 100th Anniversary of Communist Party of China
The Central Bank of Sri Lanka (CBSL) has issued gold and silver commemorative coins of Rupees 1,000, each with same depiction, to mark 65th Anniversary of diplomatic relations between Sri Lanka and the People’s Republic of China and the 100th Anniversary of Communist Party of China. The coins have been issued at the request of […]
‘s Central Bank inching towards taper tantrum: First Capital Research
First Capital Research believes that there is a 95% probability for policy rates to remain unchanged at the next monetary policy meeting due to the measures taken by CBSL to stimulate the economy. CBSL either can choose to hold policy rates steady or hike by 25 bps while rate cut is off the table due […]
”’ National Rating
Fitch Ratings has assigned Ceat Kelani Holdings Pvt Limited (CKH) a National Long-Term Rating of ‘AA+(lka)’. The Outlook is Stable. CKH’s rating reflects its leading market position as one of the largest manufacturers and distributors of vehicle tires in Sri Lanka, and its strong financial profile. Fitch expects CKH’s cash to continue to exceed debt […]