Economic

Workers' remittances in May picked up month-on-month in May but remained negative at cumulative level as per latest data released by the Central Bank.

Speculation on business tycoon Dhammika Perera entering Parliament props counters such as RCL, VONE and HAYL
The Colombo stock market sustained its positive run though low turnover has sparked concern in terms of overall investor enthusiasm.

ප්‍රතිව්‍යුහගත කිරීමෙන් කිසිදු සේවකයෙකු බලෙන් ඉවත් කිරීමක් නෑ

Both countries warn citizens of economic crisis and shortages of basic necessities
FCDO lifts advisory against non-essential travel to SL imposed in May
Urges UK travellers to check local information, stay away from protests
US Govt. maintains advisory at Level 3 requesting to reconsider travel to SL
Warns US citizens possibility of terrorist attacks in public places

ශ්‍රී ලංකාව මේ වනවිට මුහුණ පා සිටින උඝ්ර විදේශ විනිමය අර්බුදයෙන් ගොඩ ඒම සඳහා ව්‍යාපාරික ධම්මික පෙරේරා මහතා විසින් ප්‍රධාන උපාය මාර්ගික සැලසුම් 12ක් ඉදිරිපත් කර තිබේ.

වාහන බැටරි මිලත් ඉහළට

තමන් උපයන ලද මුදල් බැංකු හරහා මෙරටට එවන විදෙස්ගත ශ්‍රී ලාංකිකයින්ට ස්වයං රැකියා ණය සහ නිවාස ණය ලබාදීමට ඉදිරියේදී කටයුතු කරන බව විදේශ සේවා නියුක්ති කාර්යංශය පවසනවා.

The Colombo stock market bounced back yesterday with sharp gains in indices though turnover remained below average.

සමාජ මාධ්‍යයේ පැතිරෙන කටකතා ගැන පණිවුඩයක්

The Colombo stock market indices were mixed yesterday whilst finishing the week on a negative note amidst low turnover.

Ports, Shipping and Aviation Minister Nimal Siripala de Silva in discussion with SriLankan Airlines trade union representatives Says it will be carried out in a transparent manner with Cabinet and Parliamentary approvals
Urges local investors to come forward; assures job security to employees
While urging the local investors to come forward, the government plans to complete the restructuring process of loss-making SriLankan Airlines in a transparent manner within this year.

Says daily guidance and current transitory arrangement misinterpreted as ‘pegged exchange rate’ regime; points to clear distinctions
Sans figures says conversions have improved under the new regime
Import expenditure has declined notably in May 2022 compared to April 2022
Given the degree of overshooting of exchange rate in March 2022, says a further market based correction is expected with deceleration of non-urgent import expenditure, increasing inflows to banking system in terms of workers’ remittances and export proceeds on goods and services
Says current arrangement would be reviewed from time to time and further flexibility would be allowed if need be once market confidence is restored, supported by envisaged foreign exchange inflows

Ultra Aluminium Ltd. recently unveiled its latest BOI approved factory in Arayampathy, Batticaloa which manufactures an import substitute known as aluminium extrusion profiles thereby saving a significant dollar flow going out of the country. This also sets the tone to create jobs and generate income for the people in the Eastern Province and the country as a whole.

Sri Lanka’s official reserve assets edged up in May but not even close to bring any kind of stability to the domestic foreign exchange markets or to restore the normal outflows in respect of fuel, gas and other essential imports, as US $ 1.5 billion in it remains only a number since the former officials engaged in window-dressing to make the country’s reserve position look better and bigger.

Trade Minister Nalin Fernando orders CAA to summon Laugfs Gas officials over price hike
Asserts CAA can inquire into reasons for price increase, though prior approval is not required
Says an agreement should be reached on procedure to ensure traders do not exploit consumers
Urges public to refrain from hoarding as sufficient stocks are available

Sri Lanka’s most comprehensive development regulations – the Development Control Regulations (DCR) – introduced by Port City Colombo, was Gazetted recently and is now being enforced. An awareness program on the DCR conducted by the Colombo Port City Economic Commission was held at Port City Colombo, yesterday.

ශ්‍රී ලංකා මහ බැංකුව සතු නිල විදේශ සංචිත ප්‍රමාණය මාස 05කට පසු ඉහළ ගොස් තිබේ.

The maximum retail price of a 50kg bag of cement has been increased by Rs.150 with immediate effect, the Cement Manufacturers and Importers said.