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Sri Lanka’s Inflation Declines Significantly In November 2013

Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index, declined significantly to 5.6 percent in November 2013 from previous month’s 6.7 percent in on a year-on-year basis, the Central Bank reported on Friday. The inflation reached the lowest level recorded since April 2012, according to the Central Bank figures. Annual [...]

Spot Weakens, Forwards Strengthen

FX Market The exchange rate (ER) Friday over Thursday weakened on the back of state buying, market sources told this newspaper. “The ER weakened by between 10-15 Sri Lanka cents (SLc) to close the weekend at Rs. 130.75/80 to the US dollar ($) in two way quotes in interbank spot trading, with the state buying [...]

Political Will Is Necessary To Face Geneva Challenge

By Jehan Perera There is no reason to hurry to hold elections when both the Presidency and Parliament have two more years remaining of their terms of office. But President Mahinda Rajapaksa has asked his party members to be ready for elections in the New Year. Although he did not say which election would take [...]

Towards A Rational Electricity Tariff

CEB incurred losses of Rs 9.7 billion due to failure of Norochcholai CEB still made profit of Rs 21 billion due to hydro power and hike in electricity tariffs Is it fair to keep taxing the poor consumer by piling on to the tariff burden? By Camelia Nathaniel High electricity prices have truly become a [...]

CBSL Buys, Retires T Bills With Vengeance

If Central Bank of Sri Lanka (CBSL) was on a retiring mode of some of its Treasury (T) Bill holdings in the first three days of trading last week in a market cut short by a day due to Wednesday’s December 25 Christmas holiday, then it came back with a vengeance on Friday reversing all [...]

U.S. Co. Beats Local In SLPA Tndr.

A U.S. company beat both a local and a Singaporean company to win a Sri Lanka Ports Authority (SLPA) contract, exemplifying the fact that U.S. companies are globally competitive and not expensive, the successful bidder’s representative told this reporter on Monday (December 23). Captain Asitha Wijesekera, Managing Director Seaserve llc said that the contract valued [...]

Selling Pressure As Banks Book Profit

Treasuries The secondary Treasury market which witnessed a mix of both selling and buying pressure at Thursday’s (December 26) trading which sources said was led mainly by banks wanting to square their books by the year end, was however relatively quiet on Friday, with Treasury (T) Bills and Bonds of under a year’s maturity trading [...]

Three Stocks Make 88% Of Turnover

If Thursday saw the bourse making its lowest turnover for the year to date, then on Friday it made its highest turnover after a lapse of 10 days. Turnover on Friday amounted to Rs. 1.3 billion; aided and abetted by Ceylon Tea Services (CTS) which contributed to 74.6% of the day’s turnover with Rs. 994.8 [...]

Elephant Killers Roam Free!

By Nirmala Kannangara Unplanned developments within forest areas and unsuccessful elephant drives have become one of the main causes for human elephant conflicts in the country. As a result of ‘acquiring’ forest lands which are elephant habitat areas, elephants have been deprived of food and water. Hence elephants have no other option but to invade [...]

Engaging Diaspora For Commercial Gain

Hemas Holdings plc Chairman and CEO Husein Esufally speaking at a seminar in Colombo on Monday (December 23), stressed the importance of the Government of Sri Lanka (GoSL) engaging the island’s 1-2 million strong diaspora to further business activities (see article found elsewhere on this page). Virtually in the same breath, Esufally inferred that Sri [...]

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