Economic

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.

ASPI crosses 9,800 points to close at a new high
CSE sees net foreign inflow of Rs. 41 m
ASPI and S&P SL20 up YTD by 45.87% and 35.43% respectively
Expolanka crosses Rs. 200 mark again

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 country’s manufacturing and services sector bounced back in September after suffering a sharp dip in August.

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

Proposes extension of debt moratoriums, debt restructure for all industrialists in phased out manner
Claims loans to MSMEs in Asian and SAARC countries at over 50% but less than 15% in SL
Cautions Govt. will not be able to achieve desired goals if issues not resolved immediately

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

Sri Lanka Tourism is planning to appoint young singing sensation Yohani de Silva as a brand ambassador to promote the country.

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.

Central Bank Governor Nivard Cabraal yesterday held what he described as a “fruitful discussion” with Qatar Central Bank Governor Sheikh Al-Thani, one of the longest-serving governors in the world.

ත්‍රීකුණාමල වරායට ආසන්න, වරාය අධිකාරිය සතු හෙක්ටයාර 2,000ක ඉඩම් ප්‍රමාණයක් ආයෝජකයින්ට ලබා දීම සඳහා යටිතල පහසුකම් සංවර්ධනයට අවධානය යොමුව තිබෙනවා.

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.

The Government yesterday presented a Bill to Parliament to amend the Appropriation Act No. 7 of 2020 to increase the borrowing limit of Rs. 2,997 billion to Rs. 3397 billion.

In a surprise but welcome move to shareholders, Hemas Holdings PLC has announced a first interim dividend of Rs. 2.90 per share. The move entails a payout of Rs. 1.7 billion.