Economic

Government revenue took a nosedive in 2020, recording a decline of 27.7% to Rs. 1.36 billion from Rs. 1.89 billion with tax earnings also dropping 29.9% to Rs. 1.2 billion from Rs. 1.7 billion the previous year, the Central Bank said yesterday.

The number of credit cards in use in the country has crossed the 1.9 million mark, Central Bank data showed.

The special commodity levy imposed on a kilogram of imported potatoes to be increased to Rs.50 from today (27).

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index, decreased to 3.9% in April 2021 from 4.1% in March 2021, the Central Bank said yesterday.

The Export Development Board (EDB) yesterday urged the private sector to be better geared to face any possible challenge with the recent escalation of COVID-19 in the country.

Exports and service sectors-heavy blue chip conglomerate Hayleys Plc’s investment spree to expand businesses last week crossed the Rs. 45 billion mark since coming under Dhammika Perera’s empire a decade ago, reinforcing its sheer country and growth focus whilst harnessing global opportunities.

Reuters: Shares ended lower on Friday, hurt by losses in industrial stocks.

Attesting to resilience despite the COVID-19 impact, merchandise exports in March have crossed the $ 1 billion mark, an achievement last enjoyed in September last year.

Central Depository Systems Ltd. (CDS), of the Colombo Stock Exchange (CSE), has enabled e-IPO applications for the Initial Public Offering (IPO) of Chrissworld Ltd. opening today, via the CSE mobile application.

The Government has ordered Litro Gas Ltd. to convey true facts besides the changing of the colour of the recently-launched hybrid cylinder.

Litro Gas Ltd. yesterday reassured that supply of 12.5 kg LPG cylinders would be ensured without any shortage.

As part of furthering capital market development, the Securities and Exchange Commission (SEC) is promoting several new investment options, some of which are first-of-their-kind in Sri Lanka.

Bank of Ceylon said yesterday it set a record during Avurudu day alone with 8.395 million transactions done worth over Rs. 119.4 billion within its own CDM/CRM and ATM network.

The Colombo stock market began a fresh week on a negative note with indices plunging by over 2% amidst moderate turnover.

There is a risk of COVID-19 spreading after several branches of a state bank have remained open despite the detection of COVID-19 cases from their premises.

Businesses and dealers are concerned over the alleged shortage of US Dollars in the market as the Central Bank stepped up curbs against select forward contracts this week.

A parallel runway which is well spaced from the existing runway at Bandaranaike International Airport (BIA) will be constructed at an appropriate location, paving the way for independent and simultaneous operations of both runways, aiming at enhancing handling capacity, efficiency and productivity of aircraft movements of the international airport, according to the National Policy on Aviation.

Export industry stakeholders yesterday voiced concern over increased infections and said they were making arrangements to ensure undisrupted operations, especially as key sector apparel was already 10% behind their $ 5.1 billion target for 2021.