Economic
Kalin Sarasin, widely regarded as the leader who transformed tourism in Thailand, will be in Sri Lanka next week to address a top business forum where he will share key lessons among other insights.
Central Bank announced that Sri Lanka rupee appreciated against the US dollar, (1.2 per cent). Pound sterling (4.1 per cent), the Euro (4.8 per cent) and the Indian rupee (4.0 per cent) while depreciated against Japanese yen (1.9 per cent) last week.
Reuters: Rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for the third straight session.
Prime Minister Ranil Wickremesinghe yesterday argued that unlike previous governments, many projects had been implemented since 2015, but the Government had not spoken about their accomplishments as much as previous administrations, leading to the public being less aware of the work accomplished.
Priority will be given to Jaffna products in duty free shop stalls in Palali airport, Petroleum Resources and Civil Aviation Minister Arjuna Ranatunge said in Jaffna.
The Consumer Affairs Authority (CAA) has decided to take legal action against Prima Ceylon Ltd. after they announced a price hike of a kilo of wheat flour by Rs. 5.50, effective since midnight yesterday, an official said.
The Government has decided to reduce the price of fuel by Rs. 2, the Finance Ministry said yesterday.
Reuters: Rupee closed at its lowest level in over seven months as foreign fund outflows from government securities rose, while stocks extended losses for the third straight session.
Lanka Government Network (LGN)2.0 project has been completed connecting around 800 government instructions including ministries departments etc amidst allegations of mal practices and corruption.
Sri Lanka’s provincial administration is about to crash as the now defunct Provincial Councils has no legal authority to collect revenue and make legitimate payments.
Central Bank Governor Dr. Indrajit Coomaraswamy yesterday said Cabinet approval had been given to appoint a Steering Committee and a Technical Evaluation Committee for the mobilisation of the issuance of a $ 500 million samurai bond.
First Capital Research’s June 2019 quarter recurring earnings dropped by 10.4%YoY for 271 companies. On a recurring basis June 2019 quarter earnings plunged by 10.4%YoY as subdued performance in banking (-20%YoY), consumer services (-92%YoY) and telecommunications (-27%YoY) sectors negated the positive performance of food, beverage and tobacco (+121%YoY) and diversified financials (+35%YoY) sectors.
Sri Lanka implements One Village One Product (OVOP) concept with the aim of changing lives and helping rural poor.
Land value in Colombo District has increased 13.6 percent on average according to the biannual Land Price Index compiled by Central Bank.
The Board of Investment of Sri Lanka signed an Agreement with Sugano Packing Materials Co., Ltd., a Japanese Company to establish a plant that will be manufacturing flexible packaging that will be utilized by, among other sectors, the local tea industry. The packaging produced in Ja-Ela, Sri Lanka would be mainly flat bottomed bags.
The Laksala handicraft boutique chain owned by the Sri Lanka Handicrafts Board has taken measures to regularise the commissions being paid to registered tour guides and tour operators.
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