Economic
SLAITO President says move will help tourism industry
France relaxes travel advisory; industry expects other countries to follow
Signs-up 75 projects with investment commitment of $ 1.29 b YTD
1Q FDI realisation at $ 228 m
BOI Director-General Renuka Weerakone confident of achieving investment proposals to reach $ 2 b target for 2022
Woos investments despite multiple economic, political crises
Opines higher number of expansion projects reflect confidence among existing investors in SL
Says multiple investors keen on renewable energy projects
BOI focuses on vigorous investment facilitation, solving process bottlenecks, strengthening digital transformation to streamline services
The Ministry of Finance, Economic Stabilisation and National Policies has prepared a presentation to update Sri Lanka’s creditors on the current financial situation.
Sets up Stakeholder Engagement Committee replacing Monetary Policy Consultative Committee and the Financial System Stability Consultative Committee
The Central Bank of Sri Lanka (CBSL), with a view to broadening its engagement with key stakeholders of the economy, established the Stakeholder Engagement Committee (SEC) by replacing the Monetary Policy Consultative Committee (MPCC) and the Financial System Stability Consultative Committee (FSSCC) of the CBSL that were in operation previously.
Main shipping lines raise concerns of law and order and move to alternative routes
As a result, transshipment volumes decline by 4.5% YoY to 483,070 TEUs
Transshipment volumes up by just 1% YoY to 2.89mn TEUs in first half
Both export and import container handling down considerably
Transshipment container volumes at the Port of Colombo in June took a blow from the political crisis and social unrest that prevailed in the country, which raised law and order concerns among main shipping lines.
In June, the container transshipment volumes declined by 4.5 percent Year-on-Year (YoY) to 483,070 TEUs, as the main shipping lines moved to alternative routes avoiding Port of Colombo, as they were disturbed by political crisis and social unrest prevailed in the country.
The Government yesterday assured to introduce a new relief package through the interim Budget proposal to assist the public battered by the economic crisis.
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Total Operating income doubles to Rs. 63.3 b
Impairment for 1H exceeds Rs. 40 b
Net Stage III loan ratio improves to 2.46%
Tier I capital ratio at 11.39% and total capital ratio at 14.54%
Liquid Coverage ratio at 210% well above statutory minimum of 90%
The Cabinet of Ministers at its meeting on Monday agreed on awarding the insurance coverage for all four categories of SriLankan Airlines from Sri Lanka Insurance Corporation.
Says conversion rule does not apply to service export proceeds on or after Aug. 12
Says the decision taken to encourage service exporters to repatriate their export proceeds
However, mandatory requirement to receive services exports proceeds within 180 days remains unchanged
Sri Lanka has received little over Rs.1.5bn as services exports in first half; US$ 406mn converted to rupees
The Colombo stock market yesterday saw a hive of activity boosting the turnover to over a six-month high whilst the benchmark index reached a psychologically important new level.
සේවා අපනයන ලැබීම් හා ඉපැයීම් රුපියල් බවට පරිවර්තනය කිරීමේ අනිවාර්ය අවශ්යතාව ඉවත් කර තිබෙනවා. ශ්රී ලංකා මහ බැංකුව මෙම අනිවාර්යය අවශ්යතාව පනවනු ලැබුවේ සේවා අපනයනකරුවන්ගේ අපනයන ඉපැයීම් රට තුළට ගෙන ඒම සඳහා ඔවුන් ව දිරිමත් කිරීමේ අරමුණින්.
Sampath Bank navigates economic crisis with confidence backed by strong capital, liquidity positions
Sampath Bank said yesterday it continued to maintain a solid capital base and stable liquidity profile in the first half of 2022 notwithstanding multiple economic challenges.
Ahead of the much-awaited tourism roadshows in India, the Government has ramped-up the visa processes to boost arrivals thereby enable a faster recovery of the triple-hit leisure industry.
While there is an ever-so-slight uptick in economic perceptions, despite the state of the State, the big picture is that Sri Lanka’s economic prospects continue to be viewed with anxiousness by the business community, says leading business magazine LMD, in its August edition.
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