Economic

Brandix said today they would continue to practice stringent measures in consultation with the health authorities after one of its employees tested positive with COVID-19.

The much-awaited Ceylon Tea promotion will kick off this winter, with a total investment of Rs. 5 billion aimed at boosting exports which have struggled in recent months, an official confirmed.

The Securities and Exchange Commission (SEC) yesterday said the Colombo Stock Exchange (CSE) has demonstrated noteworthy performance recording consistent gains in the All Share Price Index of 31% and S & P Index of 27% since reopening on 11 May.

The historic Gafoor building in Colombo Fort is being renovated at a cost of Rs. 620 million under a program initiated by the Urban Development Authority (UDA) to preserve the antiquity value of the building while making it available for commercial use.

State Minister for Finance, Capital Market, and State Enterprise Reforms Ajith Nivard Cabraal requested foreign investors not to be dissuaded by the recent unwarranted rating downgrade and the erroneous analysis published recklessly by Moody's Investors Service, but to be guided by improving economic conditions.

Wealth Trust Securities said yesterday the USD/LKR rate on spot contracts was seen depreciating to an intraday low of Rs. 186.10 in the morning hours of trading before bouncing back strongly to close the day at Rs. 185.10/20, subsequent to hitting an intraday high of Rs. 185.10.

Sri Lanka’s banking sector and the taxation system are in the spotlight yet again following the covid-19 near normalcy situation.

Reuters: Shares fell for a second straight session on Wednesday as industrial and energy stocks declined, although the index booked its best monthly gain in eight years.

With the advent of Real Estate Investment Trusts (REIT) into the Sri Lankan capital market in August this year, the Securities Exchange Commission (SEC) says it is making progress with efforts to grow awareness on the new instrument.

The Central Bank of Sri Lanka said it today settled US $ 1 b billion sovereign bond scheduled to be matured on October 4 along with the due coupon payments on behalf of the Government of Sri Lanka.

Cabinet has approved awarding procurement of diesel for eight months to Emirates National Oil Company, the Government Information Department said yesterday.

On top of discussions for a $ 400 million swap facility, Sri Lanka will also look at ways to reduce a significant trade deficit with India, Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal said yesterday.

The historic Gafoor building in Colombo Fort is being renovated at a cost of Rs. 620 million under a program initiated by the Urban Development Authority (UDA) to preserve the antiquity value of the building while making it available for commercial use.

Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) marginally decreased to 4% in September from 4.1% in August.

In a bid to commend exporters and the resilience shown by them during an unprecedented COVID-19 pandemic, the Export Development Board (EDB) of the Ministry of Trade has proposed an export stimulus reward scheme from 1 October to 31 March next year.

A super September it was indeed for the Colombo stock market as the gain of the benchmark index was the highest in eight years whilst since end May it had provided a 23% positive return.

Sri Lankan Airlines, the National Carrier of Sri Lanka and a member of the one world alliance, reaffirming the global appeal of its marketing communication endeavors, bagged a gold award at the PATA Gold Awards 2020.

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) have announced the launch of Real Estate Investment Trusts (REITs), giving average investors an opportunity to reap the benefits of real estate investment and the advantages associated with investing in publicly traded securities on the CSE.