Economic

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

The Court of Appeal last week took up the petition alleging corruption during the award of a tender to affix tax stamps on alcohol, and issued notice to all respondents of the case, including Finance Minister Basil Rajapaksa, Treasury Secretary Sajith Attygalle, the Commissioner General of Excise and Madras Security Printers in India.

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.

CBSL Chief Cabraal believes new dedicated mobile app and benefits could increase annual workers remittances inflow by a further $ 2 b to $ 9 b
Sept 2021 remittances almost halved to $ 353 m from a year ago; nine months figure down by 9% to $ 4.5 b

Economic and financial experts say that shipping rates, which have risen significantly so far, will continue for some time, leading to higher prices of imported goods.

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.

Nearly 16,500 tourists have arrived in the country between 1 and 24 October, boosting hopes for the crisis-ridden industry.

The Colombo stock market sustained its bullish sentiment with the benchmark All Share Price Index touching the magical 10,000-point level though closing lower amidst improved turnover.

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

Tourism Minister Prasanna Ranatunga chairs a special meeting of the Board of Directors of Sri Lanka Tourism Promotion Bureau along with officials yesterday

Consumer Protection State Minister says no decision taken to re-impose MRP
Sugar sold at higher prices, as retailers ignore MRP and stricter laws and fines
Rice prices up once again as per mill owners

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.

Inspects upcoming Abans refrigeration and air conditioning manufacturing plant in Milleniya Industrial Zone in Kalutara
Proposes to submit Cabinet paper to strengthen local enterprises as strategic investments
Says high time to recognise and support enterprises that are creating a culture to appreciate Sri Lankan products

Says SL’s public and external finances remain fragile; flags need for more enduring improvements
Revises down growth forecast for 2021 to 3.3% from 3.8%
Says SL can remain current on its foreign debt obligations through at least mid-2022
But tips foreign exchange reserves to decline to $ 2.5 b by 2023
SL faces $ 26 b in sovereign foreign-currency obligations due between now and 2026
Forecasts Debt-to-GDP ratio to rise to 113% by 2023 from 101% in end-2020
Fiscal deficit to widen to 12.1% of GDP by 2023 from 11.1% of GDP

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.

Bespoke luxury fashion brand Kelly Felder has become the first major brand in the country to accept cryptocurrency through the 10-year-old leading blockchain payment provider BitPay. “As the digital age evolves, we strive to move forward with these advances exposing our businesses as well as Sri Lanka to high potential opportunities such as cryptocurrency,” Kelly Felder Head of E-Commerce and Strategy Dinith Wickramanayake said. “It is an honour to be a pioneer in digital transformation, paving the way for the retail and fashion industry by being the first renowned Sri Lankan brand to accept crypto currencies through Bitpay.”

බූස්ටර් එන්නත් මාත්‍රාව මුලින්ම ලබාදෙන පිරිස මෙන්න