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HEADLINES - 15th October 2018


Rice prices reduced – Daily News

Sri Lanka’s largest rice producers have agreed to slash rice prices in support of the government’s efforts to provide relief to local consumers, Agriculture Minister Mahinda Amaraweera said. The rice producers, after in-depth discussions with the Minister, agreed to reduce the price of rice by Rs.10 per kilo and mark this price reduction on their rice packs.


Apparel exports up 7.8 pct in Aug despite Brexit hit – Ceylon Today

Sri Lanka’s apparel exports grew 7.8 percent from a year earlier to 444 million dollars in August 2018, despite a fall in exports to the European Union amid Brexit troubles, data from the Joint Apparel Association Forum (JAAF), an industry body, showed.


Sri Lanka off-season tourism campaign draws over 1,000 bookings – EconomyNext

A campaign to boost off-season tourist traffic to Sri Lanka branded 'Island Escapes' launched in mid-September has drawin over a thousand bookings in three weeks, the island's tourism minister said. "We have got over 1,000 bookings," John Amaratunga said told a business forum in Colombo on October 05.


Productivity gap between public, private sectors – Prez – Ceylon Today

President Maithripala Sirisena said that there was a definite gap in the levels of efficiency and productivity when one compares the public and private sectors and added if 1,550,000 public servants committed themselves to improve their productivity at least by 50% from the current 30%, it will not be a difficult task to meet Sri Lanka’s development goals in the future.


US$ 1 billion Chinese loan to boost Lanka’s reserves – Ceylon Today

Sri Lanka is expecting the first tranche of an eight-year China Development Bank $1 billion syndicated loan on Tuesday (16th) to boost its reserves and strengthen the local currency, treasury sources said yesterday.


New initiatives to boost H’ tota port – Daily News

After the lease of the Hambantota harbour to the Chinese company, 146 ships has arrived and over 100,000 vehicles unloaded within six months, Capt. Ravindra Jayawickreme, CEO of Hambantota International Port Services (HIPS) said at a review meeting held in the administrative building of the harbour recently. Jayawickreme said that, they have put a strong foundation to the harbour operations and would invest more in the next six months to add more infrastructure facilities. The management contemplates converting the harbour into a multi tasked facility with many optional services including container handing, supplying peripheral oil and other services to ships.


India to build 1200 houses for low income families – Daily News

India and Sri Lanka signed two Memoranda of Understanding (MoU) today to construct 50 model villages with 1200 houses using Indian grant assistance of Rs. 600 million.


Sri Lanka successfully launches a platform to define the Indian Ocean’s future – LBO

Sri Lanka’s Prime Minister Ranil Wickremesinghe, highlighted the need to maintain freedom of navigation and freedom of digital connectivity for the region to grow and prosper and the need for a shared understanding in order to maintain peace and security.


Nimal returns to stock market – DailyFT

High net worth investor Nimal Perera is back in the Colombo stock market having invested over Rs. 2 billion in recent months, accumulating mostly blue chips that are trading at a bargain.


A week of volatility ends on positive note – DailyFT

The secondary bond market witnessed volatility during the week ending 12 October as yields increased drastically during the mid to latter part of the week and dipped late on Friday. The increase in yields was driven by the outcomes of the primary bill and bond auctions while the dip was on the back of renewed foreign and local buying interest.


Economic sentiment continues to decline: Survey – DailyFT

The latest LMD-Nielsen Business Confidence Index (BCI) survey reveals that economic sentiment deteriorated in September with only 5% of respondents expecting conditions to improve in the next 12 months.


Launch of ‘Sri Lanka: State of the Economy 2018’ – DailyFT

Higher debt servicing costs and risks that have come about with a notable shift in the composition of the creditor base makes the Sri Lankan economy more vulnerable to external shocks, notes the annual, flagship report of the Institute of Policy Studies of Studies of Sri Lanka (IPS). 


‘Innocent bystanders’: Emerging economies struggle to contain capital outflows – DailyFT

NUSA DUA, Indonesia (Reuters): After suffering months of capital outflows, policymakers from emerging markets attending IMF-World Bank meetings in Indonesia had a message for leading economies: current monetary and trade policies risk undermining us all.


ECB’s Draghi warns central banks’ independence under threat – DailyFT

Nusa Dua, Indonesia (Reuters): The independence of central bankers around the world is being threatened by governments demanding monetary support ranging from debt cancellation to bond purchases and lower rates, European Central Bank President Mario Draghi said on Saturday.


Registrations for Sri Lanka Retail Forum 2018 close tomorrow – DailyFT

The Sri Lanka Retailers’ Association (SLRA), with a vision of ‘Driving Retail Excellence’ will hold the nation’s premier retail sector knowledge event – Sri Lanka Retail Forum (SLRF) 2018 ‘Towards a Dynamic and Evolving Retail Sector’. Over 300 retail industry professionals have signed up to attend the retail forum, and registration for the event will close tomorrow, 16 October. 


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