Economic

The Colombo stock market sustained its resilience for a week yesterday as both indices closed positive with nearly Rs. 10 billion turnover.

Sri Lanka aims to attract 2.3 million tourists for this year with key focus on the Indian, Middle Eastern and Russian markets, whilst hoping that the traditional markets in Europe will rebound in the latter part of 2022.

The Headline inflation, as measured by the year-on-year (YOY) change in the Colombo Consumer Price Index (CCP1), increased to a record 12.1% in December 2021 from 9.9% in November 2021.

Advocata’s Bath Curry Indicator (BCI), which tracks the monthly changes in the retail price of food, has recorded an increase of 15% from November 2021 to December 2021.

The Colombo stock market sustained its 2022 opening positivity for the second consecutive day despite mid-day profit-taking amidst high turnover.

Cumulative figure as at end-Nov. tops Rs. 6.9 t mark

The Central Bank Governor Nivard Cabraal yesterday allayed unfounded fears over a sovereign default or bankruptcy and said it had set aside $ 500 million for upcoming redemption of International Sovereign Bonds.

Earlier 7% cap fixed for five years replaced with average monthly prime lending rate, effective from January 1

Minister of State Dilum Amunugama says that there is a problem in the business sector behind the current gas crisis and that a businessman is trying to expand his business through this crisis.

ASPI crosses historic 13,000 points mark; turnover tops Rs. 15 b due to strategic deals and retail rally

ASPI records highest daily gain in history
Daily turnover tops Rs.9.6bn
Foreigners end up as net buyers

ASPI finishes at record 12,226 points level with 80.48% return , S&P SL20 up 60.47%
Market capitalisation swells by 85% to nearly Rs. 5.5 trillion
Net foreign outflow hits a record of Rs. 52.6 b
Debutant LOLC General Insurance share price gains by 159% or Rs. 12.60 to Rs. 20.50

State-run Litro Gas Lanka Ltd. has called for Expressions of Interest (EoI) from eligible and qualified interest parties for the supply of 60,000 tons of +/- 20% of Liquefied Petroleum Gas (LPG) in March.

Total outstanding card balance up by Rs.3.8bn; almost 9,000 new cards issued

Independent policy thinktank Advocata yesterday, in a statement, said that a coupon system that enforces quotas and rationing will not solve the country’s Balance of Payments problem.

The Cabinet of Ministers at its meeting on Monday gave the go ahead for Finance Minister Basil Rajapaksa to gazette the Special Goods and Services Tax (GST) Bill and submit it in Parliament for approval.

The Central Bank of Sri Lanka (CBSL) has issued a new directive on the maximum interest rates on mortgage-backed housing loans by banks.

Debutant Co-Operative Insurance Company gains by 30.5%