Economic

Central Bank Governor Nivard Cabraal on Tuesday declared that the onus to boost foreign reserves and the economy lies with all and not solely on the Central Bank.

After multiple days of losses the Colombo stock market managed to remain resilient yesterday, thereby finishing the first month of 2022 on a positive note.

මෙරටට පැමිණෙන විදෙස් ගමන් බලපත්‍ර හිමියන් ඩොලර් 50,000 ක රක්ෂණාවරණයක් ලබා ගැනීම අනිවාර්ය කිරීම සම්බන්ධයෙන් සංචාරක ක්ෂේත්‍රයේ ව්‍යාපාරවල නිරත පාර්ශව සිය ප්‍රසාදය පළ කරනවා.

Hemas Holdings PLC (HHL) said yesterday it delivered a strong and resilient first nine months amidst a challenging operating environment with Group revenue up 20.5% to Rs. 57.7 billion and underlying cumulative operating profit (excluding all disposed entities) up 4.3% to Rs. 4.9 billion.

Reaffirming worsening cost of living, inflation in January has increased to 14.2% up from 12.1% in December.

මහ බැංකු අධිපති තෙල් සංස්ථාවෙන් කල ඉල්ලීම

The Colombo stock market suffered its sharpest fall in recent months triggering fresh concerns among investors though turnover remained healthy.

An aggressive yet persuasive stance by the Public Utilities Commission (PUCSL) by ensuring there is no regular load shedding amidst the energy crisis has averted an economic loss of Rs. 31 billion in the past three weeks, it has been revealed.

Failed finance company SFSP to use funds to settle depositors; licence to be cancelled thereafter and SMB Leasing to get fresh finance company licence

The Colombo stock market began February on a feeble note with both indices down despite near Rs. 10 billion turnover.

Warns both exporters and importers are impacted by critical shortage of foreign exchange
Suggests Govt. to pursue viable alternatives than solely relying on homegrown solutions

ශ්‍රී ලංකාවේ සියලුම ප්‍රසිද්ධ සමාගම්වල සභාපතිවරුන් සහ ප්‍රධාන විධායක නිලධාරීන් කැඳවා සාකච්ඡාවක් පැවැත්වීමට ජනාධිපති ගෝඨාභය රාජපක්ෂ මහතා සූදානමින් සිටින බව වාර්තා වේ.

Russia dominates tourist traffic with 16% followed by India, Ukraine, UK, Germany and France
89,506 post-COVID record set in December remains unbeaten

Trade Minister Bandula Gunawardane on Friday urged the Government to use the Export Development Fund (EDF) to better support the private sector, insisting that the industry is capable of supporting the country to overcome the foreign exchange crisis.

ශ්‍රී ලංකාවේ වෙළඳ හිඟය අවම කිරීමට පියවර ගෙන ඇති බව ශ්‍රී ලංකා මහ බැංකුව නිවේදනය කරයි.

වාහන ආනයනකරුවන්ගෙන් යහපත් ප්‍රතිචාර

Sri Lanka is revising down the tourist arrivals forecast for 2022 to 1.1 million from an earlier ambitious goal of luring 2.3 million, a move influenced by the surge in ‘Omicron’ variant in major source markets.

SLTDA streamlines and fast-tracks via ‘single application’ process by signing 8 MoUs with Central Environmental Authority, Departments of Wildlife Conservation, Agrarian Development, Irrigation, National Building Research Organisation, Forest Conservation, Archaeology, Fisheries and Aquatic Resources
Similar MoUs signed with BOI, UDA and Coast Conservation previously
Four more line agencies, including Civil Aviation Authority, Colombo Municipal Council will be added by year-end to facilitate investments
Since its establishment 12 years ago, Investor Relations Unit has received 1,006 applications worth $ 7.6 b but 457 applications worth $ 3.8 b got approval
Tourism Minister Prasanna Ranatunga says in past two years, 59 projects with investments of $ 300 m were approved out of 99 applications worth over $ 1 b received
Tourism Ministry Secretary S. Hettiarachchi points to red tape as major hindrance to boosting investments
Environment Ministry Secretary Dr. Anil Jasinghe describes tourism as key sector to pull SL out from forex crisis and put economy back on a growth path
SLTDA Director-General Dhammika Wijayasingha says digital ‘Investment Case Management System’ will be ready by March
Believes system will enhance efficiency and transparency