Economic

Denying any shortage local tyre producers are urging the Government not to import motorbike and three-wheeler tyres.

Main indices gain by over 5% with average turnover of over Rs. 3 b

The country’s manufacturing and services activities have expanded in August as per the Purchasing Managers Index (PMI) compiled by the Central Bank.

The Finance Ministry has allowed the Board of investment (BOI) approved apparel manufacturers to engage in local sales or to undertake sub-contracts from retailers or suppliers for three months starting from 10 September subject to conditions.

The long-term contract for the procurement of 5% of the 8,400,000 barrels of Merban crude oil will be awarded to Emirates National Oil Company (ENOC) of Singapore for a period of eight months from 1 October 2020 to 31 May 2021.

The International ARC Awards in New York, USA - considered the Academy Awards for annual reports by the financial community - recently awarded People’s Bank the prestigious “Best in Sri Lanka” award for its 2019 Annual Report titled “the Frontier”.

The value of the Colombo Stock Exchange (CSE) rose by Rs. 123 billion last week bringing the total increase since early May to a whopping Rs. 442 billion.

SriLankan Airlines Chairman Ashok Pathirage, in an interview with Bloomberg Markets Asia yesterday, discussed how the national carrier is coping up with the impact of the COVID pandemic.

The Colombo Stock Exchange (CSE) will today kick off a fully-fledged digitisation journey which the regulator Securities and Exchange Commission (SEC) describes as a ‘paradigm change’ benefitting all stakeholders.

State Minister of Money and Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal will engage with Foreign Institutional Investors (FII’s) today via a virtual event hosted by CT CLSA Securities and CITIC CLSA.

පොල් සංවර්ධන මණ්ඩලය සමග එක්ව ජංගම අලෙවි රථ මගින් පොල් ගෙඩිය රුපියල් 70.00කට අද (18 වැනිදා) සිට අලෙවි කරන බව වෙළෙඳ ඇමැති බන්දුල ගුණවර්ධන ප්‍රකාශ කළේය.

Workers’ remittances have increased by 12.2% to $ 702 million in July from a year earlier, the Central Bank saidHowever, on a cumulative basis, workers’ remittances declined by 5.5% to $ 3.68 billion during the first seven months of 2020 in comparison to the corresponding period of 2019.

The Board of Investment (BOI) says agreements to the value of $ 1.5 billion have been approved in the first nine months of this year from the 2020 targeted figure of $ 2-2.5 billion.

State Minister for Finance, Capital Market and Public Enterprise Reforms Ajith Nivard Cabraal called on stock brokers as well as the market players to take every effort at increasing the number of listed companies from the current number of about 200 to 500 firms.

State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal yesterday nudged local investors and business community to have faith in a turnaround of the economy and Sri Lanka’s fortunes, as the new Government has already set in motion, and will implement in the future, favourable measures and policies.

මෑත ඉතිහාසයේ අපනයන ආදායම සති දෙකක් තුළ ඩොලර් මිලියන 500ක් ඉක්මවා ඇති බව මුදල් අමාත්‍යාංශය ආරංචි මාර්ග සඳහන් කරයි.

Samsung, Sri Lanka’s popular Smartphone brand, recently introduced Galaxy M01 Core, adding to its popular Galaxy M series line of smartphones in the country, company officials said.

Net foreign outflow of foreign investments from the rupee-denominated Government securities market has topped the $ 500 million mark in the first seven months of this year, the Central Bank said.