Economic

The Securities and Exchange Commission (SEC) yesterday said the Colombo Stock Exchange (CSE) has demonstrated noteworthy performance recording consistent gains in the All Share Price Index of 31% and S & P Index of 27% since reopening on 11 May.

Sampath Bank PLC has announced the elevation of Rushanka Silva as Deputy Chairman (Non-Independent, Non-Executive Director) and Deshal De Mel as Senior Independent Director with immediate effect.

‘Sri Lanka Socio Economic Data – 2020,’ the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The current data folder is the 43rd volume of the series.

Wealth Trust Securities said yesterday the USD/LKR rate on spot contracts was seen depreciating to an intraday low of Rs. 186.10 in the morning hours of trading before bouncing back strongly to close the day at Rs. 185.10/20, subsequent to hitting an intraday high of Rs. 185.10.

Sri Lanka’s newest commercial international airline, Spark Air, plans to take wing from February next year, with the Mattala International Airport serving as its hub. The company, Spark Air Ltd., will initially fly two Airbus A330 aircraft for cargo operations due to the ongoing pandemic, and later expand to passenger operations as the airline passenger situation improves in time to come.

Premier blue chip John Keells Holdings (JKH) is showing greater bullishness on the property sector committing Rs. 9 billion more to consolidate its dominant industry position in Colombo.

With the advent of Real Estate Investment Trusts (REIT) into the Sri Lankan capital market in August this year, the Securities Exchange Commission (SEC) says it is making progress with efforts to grow awareness on the new instrument.

JK Land( Private) Limited ( JK Land) a fully owned subsidiary of JKH, has acquired a further 26.7% equity stake in Vauxhall Land Development ( Private) Limited (VLDL), and existing subsidiary of JK Land, which owns a 9.38- acre plot of prime land on Vauxhall, street, Colombo, from Finlays Colombo Limited (FCL) for a consideration of Rs.5.98 billion on 25 September 2020.

The Sri Lankan rupee will appreciate once the inflow of foreign exchange begins from the SWAP agreements provided to foreigners who invest in government securities, Money and Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal told Parliament yesterday.

On top of discussions for a $ 400 million swap facility, Sri Lanka will also look at ways to reduce a significant trade deficit with India, Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal said yesterday.

Sri Lanka’s business sentiment continues to move slowly despite the uncertainty triggered by Covid-19 contagion, latest survey revealed.

The Central Bank has issued operating instructions to Licensed Commercial Banks (LCBs) on the “USD/LKR Buy - Sell Currency SWAPs” for tenors beyond one year and up to two years under the scheme named “Inward Investments SWAPs Scheme (IIS Scheme)”.

In a bid to commend exporters and the resilience shown by them during an unprecedented COVID-19 pandemic, the Export Development Board (EDB) of the Ministry of Trade has proposed an export stimulus reward scheme from 1 October to 31 March next year.

Pelwatte Dairy Industries, Sri Lanka’s leading local dairy producer, is on a renewed mission to meet the domestic milk demand and uplift the socio-economic status of local dairy farmers.

The Consumer Affairs Authority (CAA) has removed the Maximum Retail Price of Rs. 750 per kilo that had been placed on turmeric powder.

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) have announced the launch of Real Estate Investment Trusts (REITs), giving average investors an opportunity to reap the benefits of real estate investment and the advantages associated with investing in publicly traded securities on the CSE.

කේ.ඩී.යූ. ඇඩ්වෙන්චර්ස් (KDU adventures (Pvt) Ltd) සමාගම වීරවිල ප්‍රදේශයේ ඉදි කළ නවතම තරු පහේ හෝටලය වන “Double Tree” - වීරවිල රජවර්ණ රිසෝට් සංචාරකයන්ට විවෘත කිරීමේ අවස්ථාවට අග්‍රාමාත්‍ය මහින්ද රාජපක්ෂ මහතා  (2020.09.24) දින එක් විය.

The winning streak witnessed at the Colombo stock market for over two weeks ended yesterday as investors took a welcome breather and turnover settling at Rs. 2 billion level.