Economic
The worsening multiple economic crises have forced over 900 mills to shut, whilst also warning that rice can only be produced for another two weeks with the remaining paddy stocks.
Furore over Govt. agreeing for dollar based tariff at a time SL facing its worst forex crisis
Ceylon Electricity Board Engineers Union, Wind Power and Grid Connected Solar Power Energy Associations against the deal; warn legal action
Steep shift down on yield curve
Inflation increases
Money market deficit decrease
Rupee middle rate depreciates
By Wealth Trust Securities
Says staff-level agreement with IMF likely in next four to five weeks
Stresses bridge financing key but multilateral agencies cannot repurpose till IMF deal is finalised
Hints at Sri Lanka getting as much as $ 6 b support from India
Insists painful yet critical structural reforms must be pursued to avoid future crises
ලංකා ඛණිජතෙල් නීතිගත සංස්ථාවේ නව සභාපතිවරයා ලෙස මොහමඩ් උවයිස් පත් කර තිබෙනවා. ඔහු කලක් ලංකා ඛණිජ තෙල් තොග ගබඩා පර්යන්තයේ සභාපතිවරයා ලෙස ද කටයුතු කර තිබුණා.
Says such a move will enable industry to play its part support ailing economy
Proposes govt. to liberalise industry to strengthen smallholder investment and trigger rural development
“There are no pleasant surprises as business confidence stays on its slippery course, sliding perilously into the unknown – and taking a nation’s hopes along on an unbidden ride,” business magazine LMD reported in its June edition.
Says following restrictions imposed on payment terms and introduction of the exchange rate determination mechanism, there has been significant moderation of activity in grey market resulting in forex inflows routing through banking system
Essential Food Commodities Importers and Traders Association assures CBSL it would not resort to engage in grey market activity
Preliminary assessment underway to identify availability of stocks of essential goods at present and monthly requirement
CBSL humbly requests trading community and public to act responsibly
Says over-importation and stock piling and any over-purchasing would be undesirable
Stresses duty of all stakeholders to manage scarce foreign exchange liquidity in a calculated manner
The Colombo stock market yesterday snapped a three-week upward trend as investor sentiment remained bearish.
රට අර්බුදයෙන් ගොඩ ගැනීමට නම් ණය ලබා ගැනීමට උත්සාහ කිරීම වෙනුවට ඩොලර් උපයා ගැනීම සම්බන්ධයෙන් අවධානය යොමුකළ යුතු බව ප්රකට ව්යාපාරික ධම්මික පෙරේරා මහතා පවසනවා. තවදුරටත් ලෝකයට ණයවීමෙන් මෙම අර්බුදය විසඳා ගත නොහැකි බවයි ඔහු අවධාරණය කරන්නේ.
BOI Director General Renuka Weerakoon (second from right) presents the agreement to Brown and Company Group CEO T. Sanakan. Textile venture specialists Prithiv Dorai (third from left) and Kenneth Wijesuriya (left), Aruldas Nicholas and Charitha Jayasingha (right) are also present
Cabinet Co-Spokesman Minister Bandula Gunawardena says Govt. to reduce capital expenditure via interim Budget
Opines some of the deeper realities are unavoidable as SL is trapped in multiple crises
Says no decision taken to increase State sector salaries
Affirms Govt. not keen on imposing price control on goods as it will create shortages in the market
Generalises goods price hikes and inflation as a global phenomenon
Shrugging off concerns raised by various parties that the restrictions imposed on Open Account Payment Terms would lead to a large-scale shortage of essential food items, the Central Bank yesterday assured the public that it would ensure availability of foreign exchange through the banking system for the importation of essential goods, including food items.
Page 103 of 268