Category: Economy and Markets
Risks for Sri Lankan Banks May Rise on End of Restriction on ISB Investments: Fitch Ratings
The end of the suspension on Sri Lankan banks’ investments in international sovereign bonds (ISBs) issued by the Sri Lanka sovereign (CCC) has the potential to increase banks’ exposure to sovereign and foreign-currency funding and liquidity risks, says Fitch Ratings. Banks’ credit profiles are already significantly exposed to the sovereign, with Fitch-rated Sri Lankan banks […]
Creating an inclusive National Tourism Policy for SL: Transforming sector one question at a time
Mapping the future of the tourism sector in Sri Lanka is vital for the country’s economic recovery post COVID-19. In line with this, the Ministry of Tourism initiated a process to develop a National Tourism Policy for Sri Lanka early this year. The outlines of the policy have been discussed with the Ministry of Tourism, […]
Opinion:Negative effects of organic manure for Sri Lanka’s entire tea industry
I.D. Gooneratne Former Director of J.E.D.B, III Regional Agricultural advisor to 20 tea estates Consultant, functioned as Deputy Director, Extension Services of the TRI Advisor, Tea Manufacturing, John Keells Ltd for 6 years. With my experience, based on 45 years of hands-on, direct experience in the tea industry, I wish to issue a dire warning […]
NCPI based Inflation increased to 6.1-pct in May 2021
Headline inflation, as measured by the year-on-year change in the National Consumer Price Index increased to 6.1 percent in May 2021 from 5.5 percent in April 2021, mainly driven by the monthly increases in prices of items in both the Food and Non-food categories. Meanwhile, Food inflation increased to 10.3 percent in May 2021 from […]
Sri Lanka records USD 884Mn exports in May 2021
Sri Lanka’s export sector performance has been able to manage its growth momentum in May 2021 with the challenges of the Covid-19 pandemic. As per the statistics released by Sri Lanka Customs, Sri Lanka’s merchandise exports in May 2021 were US$ 884.2 Million, an increase of 50.71% over US$ 586.7 Million in May 2020. Sri […]
‘ Association appeals for cost-sharing from Business Partners
The Sri Lanka Retailers’ Association (SLRA), the apex body for organised retail in Sri Lanka, issued a communique requesting landlords, lessors, and business partners reduce leases and rentals for the Association’s membership. • Lease and Rental Reductions • Support towards loan repayments restructure • Utility and trade levy reduction/postponement SLRA President Murali Prakash appealed to […]
Central Bank adds Thai Baht to list of designated foreign currencies
Sri Lanka’s Central Bank has included the official currency of Thailand, the Thai baht to the list of designated foreign currencies under the Off-Shore Banking Business Scheme. The Central Bank said in a banking act order that this order replaces the earlier order issued on 27 October 2011. Designated Foreign Currencies under the New Banking […]
CSE to introduce Delivery Vs. Payment mechanism to Sri Lankan Stock Market
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) announce the introduction of a Delivery vs Payment (DVP) system for stock market transactions. The Go Live is scheduled for 26th July 2021 subject to a final round of testing and industry wide mock runs. The objective of introducing a […]
CSE announces changes in S&P SL20 at mid-year index rebalance
The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2021 mid-year index rebalance. The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 21st June 2021 (after the market close of 18th June 2021) are presented below […]
Sri Lanka seeks collaboration on Graphene applications with Russian Company
The State Ministry of Regional Cooperation, recognizing the potential of Sri Lanka’s natural resources to contribute to the country’s economy, has been facilitating to explore means by which the country could sustainably harness minerals for Sri Lanka’s economic growth. Cognizant of the significance of this initiative, the Ambassador of Sri Lanka to Russia, Prof. M.D. […]
Travel restrictions to be relaxed from June 21st: Inter-provincial restrictions to remain
Inter-provincial travel restrictions to remain… Permission to conduct last rites on non-COVID 19 deaths within 24 hours… It has been decided to relax travel restrictions from 4 am on the 21st of June. However, President Gotabaya Rajapaksa instructed the officials not to relax the inter-provincial travel restrictions. Travel restrictions will be re-imposed and continue from […]
GSP+ Impact to Sri Lanka: Mountain or molehill
Whilst the GSP plus helps significantly boost the country’s export performance, the loosing of it would not create a major vacuum on a broader level besides the loss of a strong potential trade surplus with the EU, Softlogic Equity Research said. “On a micro level, individual businesses engaged in the export of Apparel, Agriculture, Fisheries […]