Economic

The latest debenture issue of the National Development Bank (NDB) had drawn demand worth over Rs. 9 billion. NDB issued six million BASEL III compliant, Tier 2 listed, rated, unsecured, subordinated, redeemable debentures of Rs. 100 each with a non-viability conversion with an option to issue a further 20 million more at the discretion of the Bank in the event of an oversubscription of the initial issue.

The multi-billion-rupee event management industry yesterday hailed the Government for recognising their trade for the first time ever in a National Budget and for allocating funds to compensate the COVID-hit sector.

Calls for coherent strategy in consultation with all stakeholders to realise goal
Gems, diamonds and jewellery exports up 59% to $ 195 m in first 9 months despite Sept. dip

Commercial Bank of Ceylon PLC last night won the coveted ‘Best Corporate Citizen Sustainability Award’ for 2021 at an annual event organised by the Ceylon Chamber of Commerce, the country’s premier business chamber, to recognise sustainable champions of the local corporate world. Citizens Development Business Finance PLC and CBL Investments Limited (CBL Group) were adjudged the first and second runners-up of the competition, respectively.

The International Chamber of Commerce Sri Lanka in a statement said that the Budget 2022 presented by Finance Minister Basil Rohana Rajapaksa had several positive proposals that were critical for Sri Lanka’s future.

The Chinafort Gem and Jewellery Traders Association (CGJTA) in a statement yesterday said it welcomed the Government’s initiatives to promote Ease of Doing Business measures in the gem and jewellery industry through the Budget 2022 presented by Finance Minister Basil Rajapaksa.

Finance Minister Basil Rajapaksa yesterday said that, in spite of the challenging environment, he was confident the Sri Lankan economy would see a rapid and healthy recovery.

The Colombo stock market suffered one of the sharpest dips in nine months, partly due to profit taking and anomaly in illiquid but heavyweights whilst turnover remained high.

The Colombo stock market yesterday gathered more momentum not withstanding private sector concerns over some of the tax proposals in Budget 2022.

Headline inflation as per the National Consumer Price Index (NCPI) in October has risen to 8.3% as against 6.2% in September, the Director General of Census and Statistics said yesterday.

Cinema stakeholders hailed the Government’s decision to officially grant ‘industry’ status, but said they were awaiting more clarity on the move, as details on how it would benefit them were yet to be disclosed.

The country’s manufacturing and services sector saw strong growth as per Purchasing Managers’ Index (PMI) in October in comparison with September.

Warns serious damage over CB’s new rule that apparel exporters must pay in local currency for suppliers who are deemed exporters
Says move will erode forex earnings base, thereby crippling ability to source foreign inputs and machinery and force apparel industry to resort to foreign fabric and accessories
Fabrics and accessory industry worth $ 750 m, saves apparel industry’s forex expenditure by half
Opines CB move contrary to both Government and BOI’s objectives, puts proposed Eravur Fabric Park in jeopardy

ලෝක වෙළෙඳපොළේ රත්‍රන් මිලෙහි බලපෑම මෙරට වෙළදපොළටද බලපෑම් කරණු ඇතැයි රත්‍රන් කර්මාන්තයේ ප්‍රවීණයින් අනතුරු අගවනවා.

Over 19,000 tourists have arrived in the country within the first two weeks of November, boosting the revival plans of the COVID-hit industry.

Diversified financial giant creates platform to attract large foreign investors to its finance companies, but bizarre investor play on highly illiquid counters in erratic week of price fluctuations cause criticism, concern and confusion

The Colombo stock market will have its first impact investing opportunity via the Initial Public Offering (IPO) worth Rs. 1 billion by the Sarvodaya Development Finance (SDF), which is confident of growth by empowering village level entrepreneurs.

11,000 ඉක්මවූ දර්ශකය