Economic

ASPI and S&P SL finished Oct. with 7.4% and 5% respectively, propelling YTD gain to 50% and 48.5%
YTD net foreign selling tops Rs. 46 b mark

The Central Bank (CBSL) this week warned the public to beware of financial scams.

BudgetPromises, a platform to track delivery of Government budget proposals, revealed yesterday there was poorer visibility on many Cabinet decisions surrounding projects, with the proportion of proposals with restricted information more than doubling over the past two years.

The Colombo Consumer Price Index (CCPI)-based inflation in October rose to 7.6% from 5.7% in the previous month according to the Central Bank.

The Central Bank Monetary Board yesterday issued new rules, as published in the Gazette Extraordinary No. 2251/42 dated 28 October, in respect of repatriation of export proceeds into Sri Lanka and conversion of such export proceeds to rupees.

Minister of Plantations Dr. Ramesh Pathirana has instructed State banks to pay more attention to the loans provided by the Asian Development Bank to small and medium scale (SME) tea estate owners.

The Central Bank (CBSL) yesterday announced maximum interest rates as part of its measures to ensure effective benefits to all stakeholders.

First 9 months’ haul tops $ 11 b mark, reflecting 70.63% achievement of $ 15.7 b target set for 2021
Despite challenges export sector sustains resilience but Sept. fails to continue $ 1 b performance achieved in previous 3 months
Merchandise exports up 19% to $ 8.88 b, Q3 performance up 5% to $ 3.2 b
9-month services exports estimated at $ 2.2 b

The Colombo stock market remained buoyant with healthy turnover and gains in indices, though small in comparison to recent sessions.

The Monetary Board of the Central Bank of Sri Lanka has established an Advisory Committee to examine possible revival options for failed finance companies.

The upcoming Sri Lanka Economic Summit 2021, is prepared to host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’. Day One of the event will commence with a session dedicated towards a focal topic on ‘Sri Lanka’s Opportunity to Reset in the New Global Norm’ on 6 December.

The Colombo stock market remained buoyant with high turnover whilst profit-taking and a rare dip by most-valuable Expolanka failed to keep indices from gaining.

Seylan Bank has announced plans to raise a maximum of Rs. 20 billion next year either in phases or in one go to boost its capital.

Successfully completes process of developing and testing blockchain technology-based ‘Shared Know-Your-Customer’ (KYC) Proof-of-Concept

Despite stating no change in policy to curtail vehicle imports, the Central Bank (CB) is likely to announce a new scheme where vehicles could be brought in without an outflow of foreign exchange from Sri Lanka.

Central Bank Governor Ajith Nivard Cabraal yesterday said new strategies to address the hardships faced by the Micro, Small and Medium Enterprises (MSMEs) owing to the COVID-19 pandemic will be introduced shortly.

Altair Colombo, known for its unique and acclaimed architectural value and as a striking landmark redefining the skyline of Colombo, was ceremoniously declared open on Wednesday by Prime Minister (PM) Mahinda Rajapaksa.

Lists measures to shore up foreign reserves; lists ongoing and planned multi-billion initiatives