Economic
The Department of Census and Statistics (DCS) yesterday indicated that the release of the latest Gross Domestic Product (GDP) data may be delayed further.
Stronger private sector credit growth and gradual normalisation of economic activities has reduced the odds of the Central Bank of Sri Lanka (CBSL) changing rates, when it announces its latest monetary policy stance this week, First Capital Research said yesterday, projecting there was only a 50% probability of a rate cut. Releasing its latest pre-policy report, First Capital said that in its earlier report it had indicated a 60% probability for a rate cut when the monetary policy stance is announced in October and 75% when in November.
The Government moved yesterday to take control of the Chair of the crucial Parliamentary Committee on Public Finance, passing a motion in the House enabling its members to decide who chairs the committee.
Headline inflation as measured by the year-on-year change based on the National Consumer Price Index NCPI) has been compiled as 6.4% as against 6.2% in August, the Director General of Census and Statistics revealed yesterday.
Investor focus for the first time in recent months shifted to the under-performing plantations stocks yesterday, as the Colombo Bourse began a fresh and important week positive though less convincing.
Sri Lanka Customs yesterday said the digital tools have empowered the organisation to provide efficient service to its users while keeping in line with health authority guidelines amidst the COVID-19 pandemic.
The sustained positive run at the Colombo Stock Market lost steam yesterday with the benchmark All Share Price Index turning negative, but overall resilience was manifested with turnover crossing Rs. 1 billion mark for 30th consecutive day.
The Colombo stock market, which has remained resilient despite local and external shocks linked to the COVID-19 pandemic, is setting sights on new records this year.
Former Senior Deputy Governor and FT columnist W.A. Wijewardena yesterday claimed that the Central Bank has created an interest rate anomaly by keeping policy rates unchanged at 4.5% for standing deposits and 5.5% for standing lending when Treasury Bill rates falling below that level.
Corporate earnings of listed companies plunged by 52% year-on-year (YOY) to Rs. 33.5 billion in 2020 March quarter, First Capital Research revealed yesterday. The analysis was based on reported earnings of 266 listed companies.
Distilleries Company of Sri Lanka (DCSL) Chairman and business leader Harry Jayawardena has decried what he called as “step-motherly” treatment to the coconut arrack industry and warned of serious health and tax revenue issues if the Government fails to urgently address measures to nab the thriving illegal and illicit liquor industry.
Staying true to global trends the Central Bank yesterday kept rates unchanged to maintain affordable credit flows to both the Government and private businesses as Sri Lanka struggles with a fresh wave of COVID-19 infections.
CSE approves Rs. 1.9 b Rights Issue; merger with Abans Finance will boost assets to Rs. 32 b and capital to Rs. 4.9 b
Thousands of COVID-hit businesses have been supported so far with billions in cash combined under the concessionary working capital support scheme, the Central Bank announced on Friday.
The risk of a second coronavirus wave, together with weak borrower sentiment in an already fragile operating environment, would put further stress on Sri Lankan finance and leasing companies’ (FLCs) credit profiles, adding to existing pressures on asset quality and profitability, Fitch Ratings said (20).
ශ්රී ලංකාවේ ඉතිහාසයේ සිනිවලට ලබා දුන් ඉහළම බදු සහනය වන කි.ග්රෑම් 1 කට රු. 55 ක් බදු සහනය ලබා දී ඇත්තේ මහා පරිමාණ සීනි සහ ෆාම් තෙල්, පොල් තෙල් ආනයන කරුවෙකුගේ උවමනාව මත භාණ්ඩාගාර නිලධාරීන් පිරිසකගේ එකඟතාවයෙන් බවට විවිධ පාර්ශව වලින් චෝදනා එල්ල වේ.
The All Share Price Index (ASPI) gained 0.44% yesterday to end the week on a positive note, helped by LOLC Holdings, Distilleries and C.T. Holding with turnover crossing Rs. 3.6 billion, NDB Securities said.
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