Economic

Earlier 7% cap fixed for five years replaced with average monthly prime lending rate, effective from January 1

Minister of State Dilum Amunugama says that there is a problem in the business sector behind the current gas crisis and that a businessman is trying to expand his business through this crisis.

The Colombo stock market yesterday had to struggle to close its benchmark index marginally up despite satisfactory turnover.

ASPI records highest daily gain in history
Daily turnover tops Rs.9.6bn
Foreigners end up as net buyers

ASPI finishes at record 12,226 points level with 80.48% return , S&P SL20 up 60.47%
Market capitalisation swells by 85% to nearly Rs. 5.5 trillion
Net foreign outflow hits a record of Rs. 52.6 b
Debutant LOLC General Insurance share price gains by 159% or Rs. 12.60 to Rs. 20.50

Minister Prasanna Ranatunga says move will further boost national carrier’s resilience in cargo operations
UL accounts for 25% of country’s total exports via air freight, 27% of total imports
Though passenger revenue is up, airline has not reached pre-COVID levels yet

Total outstanding card balance up by Rs.3.8bn; almost 9,000 new cards issued

Independent policy thinktank Advocata yesterday, in a statement, said that a coupon system that enforces quotas and rationing will not solve the country’s Balance of Payments problem.

මහ බැංකුවේ මුදල් මණ්ඩලය අලුතෙන් ගත් තීරණය

The Central Bank of Sri Lanka (CBSL) has issued a new directive on the maximum interest rates on mortgage-backed housing loans by banks.

Debutant Co-Operative Insurance Company gains by 30.5%

The Securities and Exchange Commission of Sri Lanka is setting up a Central Counterparty mechanism to bolster the capital markets.

The Headline inflation, as measured by the year-on-year (YOY) change in the Colombo Consumer Price Index (CCP1), increased to a record 12.1% in December 2021 from 9.9% in November 2021.

CBSL ups interest rate on foreign currency deposits to lure more inflows
Banking analysts say maximum rate could be as high as 6.5% for normal FCY deposits and 8.5% for Special Deposit Accounts
Imposes cap on maximum USD interest rate of 10% on USD-LKR swap transactions arresting unfavourable development of high 40%-50% rate hitherto
Akin to a New Year bonanza, the Central Bank yesterday announced a higher interest rate for foreign currency (FCY) deposits whilst separately capping maximum rates on USD-LKR swaps.

The nine main unions representing the employees of the national carrier, SriLankan Airlines, have linked arms once again towards ensuring the survival of the airline and her staff.

Cumulative figure as at end-Nov. tops Rs. 6.9 t mark

Expresses confidence reserve position will remain at comfortable levels throughout 2022
Blames hasty and inexplicable decisions of certain rating agencies to downgrade the Sovereign for undue delays in certain expected foreign currency inflows

Condominium sales transactions during Q3 2021 have increased compared to a year ago as well as the previous quarter, as per the industry index compiled by the Central Bank.