Economic
ලංකා ඛණිජතෙල් නීතිගත සංස්ථාවේ නව සභාපතිවරයා ලෙස මොහමඩ් උවයිස් පත් කර තිබෙනවා. ඔහු කලක් ලංකා ඛණිජ තෙල් තොග ගබඩා පර්යන්තයේ සභාපතිවරයා ලෙස ද කටයුතු කර තිබුණා.
Says such a move will enable industry to play its part support ailing economy
Proposes govt. to liberalise industry to strengthen smallholder investment and trigger rural development
Says daily guidance and current transitory arrangement misinterpreted as ‘pegged exchange rate’ regime; points to clear distinctions
Sans figures says conversions have improved under the new regime
Import expenditure has declined notably in May 2022 compared to April 2022
Given the degree of overshooting of exchange rate in March 2022, says a further market based correction is expected with deceleration of non-urgent import expenditure, increasing inflows to banking system in terms of workers’ remittances and export proceeds on goods and services
Says current arrangement would be reviewed from time to time and further flexibility would be allowed if need be once market confidence is restored, supported by envisaged foreign exchange inflows
“There are no pleasant surprises as business confidence stays on its slippery course, sliding perilously into the unknown – and taking a nation’s hopes along on an unbidden ride,” business magazine LMD reported in its June edition.
Trade Minister Nalin Fernando orders CAA to summon Laugfs Gas officials over price hike
Asserts CAA can inquire into reasons for price increase, though prior approval is not required
Says an agreement should be reached on procedure to ensure traders do not exploit consumers
Urges public to refrain from hoarding as sufficient stocks are available
The Colombo stock market yesterday snapped a three-week upward trend as investor sentiment remained bearish.
රට අර්බුදයෙන් ගොඩ ගැනීමට නම් ණය ලබා ගැනීමට උත්සාහ කිරීම වෙනුවට ඩොලර් උපයා ගැනීම සම්බන්ධයෙන් අවධානය යොමුකළ යුතු බව ප්‍රකට ව්‍යාපාරික ධම්මික පෙරේරා මහතා පවසනවා. තවදුරටත් ලෝකයට ණයවීමෙන් මෙම අර්බුදය විසඳා ගත නොහැකි බවයි ඔහු අවධාරණය කරන්නේ.
The maximum retail price of a 50kg bag of cement has been increased by Rs.150 with immediate effect, the Cement Manufacturers and Importers said.
BOI Director General Renuka Weerakoon (second from right) presents the agreement to Brown and Company Group CEO T. Sanakan. Textile venture specialists Prithiv Dorai (third from left) and Kenneth Wijesuriya (left), Aruldas Nicholas and Charitha Jayasingha (right) are also present
Cabinet Co-Spokesman Minister Bandula Gunawardena says Govt. to reduce capital expenditure via interim Budget
Opines some of the deeper realities are unavoidable as SL is trapped in multiple crises
Says no decision taken to increase State sector salaries
Affirms Govt. not keen on imposing price control on goods as it will create shortages in the market
Generalises goods price hikes and inflation as a global phenomenon
The worsening multiple economic crises have forced over 900 mills to shut, whilst also warning that rice can only be produced for another two weeks with the remaining paddy stocks.
Furore over Govt. agreeing for dollar based tariff at a time SL facing its worst forex crisis
Ceylon Electricity Board Engineers Union, Wind Power and Grid Connected Solar Power Energy Associations against the deal; warn legal action
Steep shift down on yield curve
Inflation increases
Money market deficit decrease
Rupee middle rate depreciates
By Wealth Trust Securities
Says staff-level agreement with IMF likely in next four to five weeks
Stresses bridge financing key but multilateral agencies cannot repurpose till IMF deal is finalised
Hints at Sri Lanka getting as much as $ 6 b support from India
Insists painful yet critical structural reforms must be pursued to avoid future crises
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