Economic

Litro Gas Ltd. yesterday reassured that supply of 12.5 kg LPG cylinders would be ensured without any shortage.

As part of furthering capital market development, the Securities and Exchange Commission (SEC) is promoting several new investment options, some of which are first-of-their-kind in Sri Lanka.

SriLankan Airlines, the flag carrier of Sri Lanka and a member of the prestigious oneworld alliance, said yesterday it would commence flight operations to Nairobi – Kenya, its second destination in East Africa after flying to the Seychelles.

The Colombo stock market began a fresh week on a negative note with indices plunging by over 2% amidst moderate turnover.

There is a risk of COVID-19 spreading after several branches of a state bank have remained open despite the detection of COVID-19 cases from their premises.

The headline inflation in March as measured by the year-on-year (YOY) change based on the NCPI has been compiled as 5.1%, up from 4.2% in February.

A parallel runway which is well spaced from the existing runway at Bandaranaike International Airport (BIA) will be constructed at an appropriate location, paving the way for independent and simultaneous operations of both runways, aiming at enhancing handling capacity, efficiency and productivity of aircraft movements of the international airport, according to the National Policy on Aviation.

Export industry stakeholders yesterday voiced concern over increased infections and said they were making arrangements to ensure undisrupted operations, especially as key sector apparel was already 10% behind their $ 5.1 billion target for 2021.

The Sri Lanka Tourism Development Authority (SLTDA) has updated the health protocols for tourists and further eased entry restrictions for international travellers.

The special commodity levy imposed on a kilogram of imported potatoes to be increased to Rs.50 from today (27).

The Central Bank yesterday issued a slew of revised forex regulations, including introducing new accounts for forex borrowings and repatriating emigrant incomes as well as allowing exemptions for Inward Investment Accounts (IIAs) and unveiling three new resident investor categories. Issuing a statement, the monetary authority said regulations issued under the Foreign Exchange Act, No. 12 of 2017 (FEA) had been revised for further simplification and clarity improvement.

The Colombo stock market bounced back yesterday after three consecutive negative sessions as investors returned to buying mode on improved sentiments.

Exports and service sectors-heavy blue chip conglomerate Hayleys Plc’s investment spree to expand businesses last week crossed the Rs. 45 billion mark since coming under Dhammika Perera’s empire a decade ago, reinforcing its sheer country and growth focus whilst harnessing global opportunities.

Reuters: Shares ended lower on Friday, as industrial stocks slumped and financials slipped.

Emirates has announced it will increase its services to Colombo from six to seven flights a week, with the seventh weekly flight commencing 3 May.

Central Depository Systems Ltd. (CDS), of the Colombo Stock Exchange (CSE), has enabled e-IPO applications for the Initial Public Offering (IPO) of Chrissworld Ltd. opening today, via the CSE mobile application.

Industry legend Prema Cooray, veteran Ministry Secretary Dr. Prathap Ramanujam and tourism industry leader Abbas Esufally join growing dissent over scrapping of existing Act of 2005
Cooray insists new Tourism Act was unwarranted and putting private sector representation out of key agencies is unjustifiable and highly detrimental

The Colombo stock market has lost Rs. 127 billion in value during the past three sessions with gains enjoyed for two weeks erased sparking fresh investor concerns.