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HEADLINES - 5th November 2018

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President advances reconvening of Parliament to 14 Nov. – DailyFT

President Maithripala Sirisena yesterday decided to advance the date for the reconvening of Parliament by two days to 14 November but analysts said the move was unlikely to appease his detractors who have called for an immediate summoning of the Legislature.

 

Sri Lanka may lose GSP+ if human rights are violated again: report – EconomyNext

Sri Lanka will lose duty free access to the European Union if the country goes back to violating human rights, an ambassador has said, amid a political crisis sparked by a contested appointment of a new prime minister.

 

Constitutional Crisis – close to $ 100mn flees stock/bond markets last week – LBO

In the first full week of Sri Lanka’s constitutional crisis, foreign investors in Sri Lanka’s capital markets ran for the exits with nearly US$100mn leaving the stock/bond markets during the past week.

 

IMF postpones board meeting to review Sri Lanka's performance – Ceylon Today

The International Monetary Fund (IMF) team has failed to reach a staff-level agreement within the required timeframe with the Sri Lankan authorities on the fifth review under an economic reform programme supported by a three-year Extended Fund Facility (EFF) arrangement, a top government official told Ceylon FT.

 

Business confidence continues to erode – DailyFT

The LMD-Nielsen Business Confidence Index (BCI) declined for the fifth consecutive month to register 85 in October, according to the latest edition of leading business magazine LMD. The unique index is now 22 basis points below its 12-month average of 107 and lies at a 114 month low – the second successive post-war low, the magazine says.

 

Jetwing chief hails 'So Sri Lanka' tourism campaign – EconomyNext

A tourism promotion campaign styled 'So Sri Lanka' has drawn praise from the head of one of the island's top leisure groups. "This is the best campaign I have seen in my professional life," Jetwing Group Chairman Hiran Cooray said.

 

Uva, East and Wayamba expand share of GDP – DailyFT

Three relatively poorer provinces, Uva, East and Wayamba, had increased their share of the country’s Gross Domestic Product (GDP) last year whilst that of the rest of the country either shrank or remained stagnant.

 

Cyclone threat to Lanka – Ceylon Today

The authorities were yesterday bracing for harsh wet weather after a low pressure condition in the Bay of Bengal was moving in a south- westerly direction and could snowball into a cyclone prior to making a landfall on the country, senior officials with the Disaster Management Centre (DMC) and the Department of Meteorology said yesterday.

 

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