Economic

රුපියල රැකගන්න මහ බැංකුව කළ දේ

Sri Lanka’s service exporters, including resident Sri Lankans, who receive their earnings in foreign currencies through the banking channels, have started to protest against the conversions of their foreign currency earnings by banks, under the new export proceeds repatriation rules imposed by the Central Bank (CB).

Most profitable and valuable firm sees share price top Rs. 300; briefly surpasses Rs. 600 b market capitalisation before settling down at Rs. 594 b
ASPI closes lower after strong start; LOLC stocks weigh in

Lists incentives to the general public who deposit, convert or invest foreign currency between 13 and 31 Dec.
Banks requested to sell 20% of such currency converted into rupees on a weekly basis as CBSL steps up multiple efforts to boost foreign reserves

Finance Minister Basil Rajapaksa yesterday said the economy is facing great difficulties with the looming foreign exchange crisis and drastic measures would have to be taken.

Sri Lanka has seen the highest tourist arrivals growth post-COVID in November with 44,294 arrivals, pushing the cumulative figure to 104,989.

The credit card industry has apparently suffered a rare and sudden cancelation in October, throwing new challenges to a market which is trying to entice more spending.

In response to several complaints that certain authorised money exchangers are engaged in activities that are not in compliance with the directions issued under the provisions of the Foreign Exchange Act No. 12 of 2017 (FEA), the Central Bank is conducting a series of spot examinations at the offices of authorised money exchangers, a step towards strengthening monitoring and supervision.

Advocata’s Bath Curry Indicator (BCI), which tracks the monthly changes in the price of a basket of commonly consumed food items, recorded the highest retail prices since 2019.

ශ්‍රී ලංකා මහබැංකුවේ රාජ්‍ය ණය දෙපාර්තමේන්තුව විසින් ඊයේ (13) පැවැත්වූ භාණ්ඩාගාර බැඳුම්කර වෙන්දේසියේදී රුපියල් මිලියන 120,000ක ( කෝටි 12,000) ලංසු පිළිගැනීමට තීරණය කර තිබේ.

මහ බැංකුව ආයතන කිහිපයකට එරෙහිව ගත් දැඩි පියවර

The Colombo stock market yesterday survived a choppy day of sentiments to close marginally on the up by 0.5% amidst healthy turnover.

Both indices gain by 2% to finish the week on the up, erasing last week’s losses
S&P SL20 index scales above 4,000 points for the first time in history
Market capitalisation reverts to Rs. 5 t
Expolanka share price touches intra-day high of Rs. 340; market value soars to Rs. 662 b

Budget 2022 has failed to achieve three critical outcomes of establishing fiscal stability, building credibility, and instilling confidence, Verite Research claimed yesterday.

Central Bank Governor Ajith Nivard Cabraal yesterday called on the private sector to join hands to revive Sri Lanka from the challenges of COVID-19 towards a sustainable growth trajectory.

The Tourism Ministry will launch a special programme to increase the number of international airlines and private jets landing at Mattala Rajapaksa International Airport (MRIA), as an attempt to lure tourists to the southeast region of the country.

Tourism Minister Prasanna Ranatunga is planning to submit several special Cabinet papers to revise the taxes of Local Government bodies on tourist hotels, restaurants and residences, in a bid to provide further concessions on electricity bills.

The Central Bank’s arbitrary cap on the exchange rate came under fire yesterday at the Ceylon Chamber of Commerce Economic Summit Day 1.