Economic

Sri Lanka Gem & Jewellery Association (SLGJA) is putting forward a number of solutions that can uplift and boost the industry further.

June nets over half- a-billion $ in exports
Up 39.45% YoY to $ 537 m, highest ever for any month
Exports to US up 67.6% and EU by 24%
Industry reverts to and outperforms
pre-COVID resilience
1H exports up 20% at $ 2.8 b as against $ 2.6 b in 2019 1H

මෙම වසරේ මෙරට ආර්ථිකය සියයට 7 යි දශම 7 කින් සංකෝචනය වනු ඇති බව ආසියානු සංවර්ධන බැංකුව පවසනවා. ආසියානු රටවල ආර්ථිකයන් පිළිබඳ සිය නවතම විශ්ලේෂණය ඉදිරිපත් කරමින් ආසියානු සංවර්ධන බැංකුව පෙන්වා දෙන්නේ ලබන වසරේ මෙරට ආර්ථික ක්‍රියාකාරකම් තවදුරටත් පහළ මට්ටමක පවතිනු ඇති බවයි.

Power and Energy Ministry calls for Expressions of Interest by 16 August
Pre-proposal conference on 5 August
Request for proposals after shortlisting
Select firm will have to enter into long-term contract with CPC whilst engaging in business using existing fuel stations owned or to be opened by CPC and using CPC storage terminal
Govt. will facilitate development of new fuel stations and storage terminal depending on the requirement of successful party
Industry sources say global and regional players keen to explore new opportunity in Sri Lanka’s $ 4 b market
CPC commands 85% market share and Lanka IOC 15%

Former Central Bank Chief forecasts crisis to force contraction of economy by 8-10%
Reveals around 750,000 people have slipped into poverty
Data suggests half the population could fall below poverty line by end-2022
Suggests Govt. to strengthen safety net by enhancing cash transfers going to poor and vulnerable
Opines given toxic populist politics and entitlement culture, economic recovery will require painful treatment
Predicts IMF conditions will be ‘onerous’
Opines Sri Lankans now recognise that sacrifice is necessary and inevitable
Lists SOE reforms, divestment of State assets, independence of Central Bank and improving business climate as immediate priorities

Stalled IMF talks could resume with Parliament electing a new president yesterday
“Until time we sign an agreement with IMF and restructure debt, it is going to be tough”- CB governor
Lankan authorities expect more financing support from India and China

තේ නිෂ්පාදනයේ විශාල අඩුවක්

The Colombo stock market remained bearish yesterday though it finished the week on the up as investor sentiment was dampened by the latest attack on anti-Government protesters.

The Treasury bill yields edged lower yesterday after three weeks of climbing but ended way above when the current ascent in the short-term bills began on June 29, in response to the rising funding needs of the government amid the tightening liquidity conditions in the rupee markets.

The popular beer brand Lion has managed to garner more sips globally as its exports have more than doubled in the past two years to cross the Rs. 2 billion mark.

Total arrivals for year ending on July 19 reach 440,110
UK, India and Germany emerge as largest tourist traffic generators for Sri Lanka for July thus far
India, UK and Russian Federation rank as top three markets for Jan. 01-Jul. 19 period
Tourist arrivals likely to decrease in coming weeks as govt. reimposed state of emergency

The newly appointed Director General of the Employers’ Federation of Ceylon (EFC) Vajira Ellepola, in this exclusive interview with the Daily FT, shares his views in shaping the organisation to address the evolving needs of the world of work.

The Colombo stock market began a fresh week on a negative note with lacklustre investor interest mirroring fresh concerns over macro situation and outlook.

වාණිජ බැංකු වලින් ක්‍රෙඩිට් කාඩ් පත් හිමියන්ට පණිවිඩයක්

The Colombo stock market remained upbeat yesterday ahead of a crucial Parliamentary vote to elect a new President today.

විදෙස් ශ්‍රමික ප්‍රේෂණ ප්‍රමාණය යළි පහළට

ඉකුත් ජුනි මාසයේ උද්ධමනය සියයට 58.9 ක් දක්වා ඉහළ ගොස් තිබෙනවා. ඉකුත් මැයි මාසයේ උද්ධමනය පැවතුණේ සියයට 45.3 ක් ලෙසයි. ජාතික පාරිභෝගික මිල දර්ශකයෙහි වාර්ෂික ලක්ෂ්‍යමය වෙනස මගින් මනිනු ලබන මතුපිට උද්ධමනය, මෙලෙස ඉහළ ගොස් ඇත්තේ ආහාර සහ ආහාර නොවන කාණ්ඩ දෙකෙහිම මිල ගණන්හි සිදු වූ මාසික ඉහළ යෑම් හේතුවෙන්.

The National Chamber of Exporters of Sri Lanka (NCE), yesterday demanded fullest support for the export community amidst the worsening crisis in the country.