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Thread for News on CSE and SL Economy

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Thread for News on CSE and SL Economy

Post by slstock on Wed Oct 31, 2018 11:51 am

This thread is created to post news on CSE and SL Economy.

Please post all relevant under it.

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Re: Thread for News on CSE and SL Economy

Post by nihal123 on Wed Oct 31, 2018 7:52 pm

ආර්ථික සිහින දිනෙන් දින ​බොඳවීම

මිනිසා විසින්ම නිර්මාණය කරන ලද මේ ව්‍යවස්ථා අර්බුදය නිසා, ඉන් අනතුරට ගොදුරු වන්නේ ආර්ථිකයයි. එය සැණෙකින් විසඳිය යුතුය. නැතහොත් විනාශමුඛයට යාම නියතය.

ජනාධිපතිවරයා අගමැති රනිල් වික්‍රමසිංහ නිලයෙන් පහකරන අතරතුර එම තනතුරට මහින්ද රාජපක්‍ෂ මහතා පත් කොට තිබේ.

දැන් රජයක් නොමැතිව අග්‍රාමාත්‍යවරුන් දෙදෙනෙකි.

පසුගිය සතියේ ශ්‍රී ලංකාවේ සිදුවූ දේශපාලන විපර්යාසයෙන් රට ව්‍යවස්ථාමය අර්බුදයකට ඇදී ගොස් තිබේ.
ජනාධිපතිවරයා අගමැති රනිල් වික්‍රමසිංහ නිලයෙන් පහකරන අතරතුර එම තනතුරට මහින්ද රාජපක්‍ෂ පත් කළේය. අර්බුදය නිර්මාණය වූයේ ව්‍යවස්ථාවේ වගන්තිවලට අනුකූලව රනිල් වික්‍රමසිංහ තවමත් අග්‍රාමාත්‍ය පදවියේ රැඳී සිටීමත් සමඟය. මෙය වැරැදි බව මහින්ද රාජපක්‍ෂට සහයෝගය දෙන අය කියති. මේ ආකාරයට ජනාධිපතිවරයා විසින් අවස්ථා දෙකකදී පත් කරනු ලැබූ අගමැතිවරු දෙදෙනෙක් ශ්‍රී ලංකාවේ සිටිති.

එහෙත් යථාර්ථය නම් ජනාධිපතිවරයා විසින් ක්‍රියාවේ යොදවනු ලබන විධායක බලය විනා රටේ හරි හැටි ව්‍යවස්ථාපිත රජයක් නොතිබීමයි. එම විධායක බලයට සීමාවක් ඇත. එය සදාකාලීකව පවත්වා ගත නොහැක්කකි. පාර්ලිමේන්තුව රැස් නොවන නිසා ව්‍යවස්ථාදායකය සහ සැබෑ විධායකය අතර පවතින අන්‍යෝන්‍ය සම්බන්ධතාව බිඳ වැටී තිබේ. මේ ආකාරයට යහපාලනය අතින් රටේ ව්‍යවස්ථානුකූලභාවය පිළිබඳ පවතින්නේ අඳුරු නොපැහැදිලි බවකි. මෙය ශ්‍රී ලංකා ඉතිහාසායේ පෙර නොවූ විරූ දෙයක් වන අතර එහි ප්‍රතිඵලය කුමක් වුවත් එය සමාජ, දේශපාලන හා ආර්ථික ප්‍රතිවිපාක කරා ඈතට දිවෙනු ඇත.

පැහැදිලිව පෙනෙන ආර්ථික අර්බුදයක්: ආර්ථික වර්ධනය හෙමිහිට සිදුවීම (මන්දගාමී වීම)

මෙය සිදුවූයේ රටේ ආර්ථිකය දැඩි දුෂ්කර අඩියකට ඇද වැටුණු අවස්ථාවේය. රටපුරා උද්ධමනය බින්දුවේ මට්ටමට පසුබා තිබීම හැරුණු කොට අනෙකුත් සියලුම ආර්ථික නිර්ණායක (දර්ශක) කාලයක් පුරා ලෙඩ වූ ආර්ථිකයක ලක්‍ෂණ විද්‍යාමාන වූවේය. 2009 යුද්ධය හමාර වූ විගසම සියයට 8 ක් ලෙස වාර්තාවී තිබූ ආර්ථික වර්ධන වේගය දිගින් දිගටම මන්දගාමී වන්නට පටන් ගත්තේය. 2013, 2014 වර්ෂවලට සියයට 5 කටත් වඩා පහළට ඇද වැටුණු එය අවසාන අවුරුදු දෙකේදී සියයට 4 කටත් පහළට වැටුණේය.

ඊළඟ අවුරුදු පහ තුළ වඩාත් ප්‍රශස්ත මට්ටමෙන් ගත්තත් පෙනෙන විධියට ආර්ථිකය වර්ධනය වනුයේ සියයට 4.5 සිට 5 ක උපරිමය ගන්නා සාමාන්‍ය වර්ධන වේගයකිනි. එය ශ්‍රී ලංකාව පොහොසත් රටක මට්ටමට ඉදිරියට යෑමට අවශ්‍ය වන වර්ධන වේගය වූ 9% ට වඩා අඩු මට්ටමකි. ඒ ආකාරයට පොහොසත් ජාතියක් ලෙස දියුණුවේ ඵල විඳගන්නට ශ්‍රී ලංකාව දකින සිහිනය දිනෙන් දින බොඳවී යන්නේය. සංවර්ධනයේ මාවත ඔස්සේ ඉදිරියට ඇදෙන්නට අරගල කරන ජාතියකට එය මහත් හිසදරයකි.

හසුරුවා ගත නොහැකි අය වැය

ඉතිරි කොටස

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Re: Thread for News on CSE and SL Economy

Post by nihal123 on Wed Oct 31, 2018 7:54 pm

භාණ්ඩාගාර බිල්පත් වෙන්දේසිය ලංසු පිළිනොගෙන අවසන් කෙරේ

ශ්‍රී ලංකා මහ බැංකුවේ රාජ්‍ය ණය දෙපාර්තමේන්තුව විසින් අද (31) කැඳවා තිබුණු භාණ්ඩාගාර බිල්පත් වෙන්දේසියේ දී කිසිදු ලංසුවක් භාර නොගැනීමට තීරණය වී ඇත.

අද වෙන්දේසිය සඳහා රුපියල් මිලියන 13,000 ක භාණ්ඩාගාර බිල්පත් ප්‍රමාණයක් ඉදිරිපත් කර තිබුණු අතර එය දින 91 පරිණත කාලයෙන් යුතු රුපියල් මිලියන 3,000 ක බිල්පත් ප්‍රමාණයකින් හා දින 364 පරිණත කාලයෙන් යුතු රුපියල් මිලියන 10,000 ක බිල්පත් ප්‍රමාණයකින් සමන්විත විය.

මෙහිදී දින 91 හා දින 364 බිල්පත් සඳහා පිළිවෙලින් රුපියල් මිලියන 4,174 හා රුපියල් මිලියන 19,660 බැගින් රුපියල් මිලියන 23,834 ක ලංසු ලැබී තිබිණි.

කෙසේ වෙතත් මෙහිදී ලැබී තිබිණු කිසිදු ලංසුවක් හෝ පිළිනොගැනීමට රාජ්‍ය ණය දෙපාර්තමේන්තුව පියවර ගෙන තිබේ.

අද පැවති භාණ්ඩාගාර බිල්පත් වෙන්දේසිය පිළිබඳ සංක්ෂිප්ත සටහනක් පහතින් දැක්වේ.

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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Thu Nov 01, 2018 9:58 am

Sri Lanka ready to repay US$1.5bn bonds maturing in 2019: Central Bank

ECONOMYNEXT – Sri Lanka’s government has already made arrangements to repay international bonds worth 1.5 billion US dollars maturing in January and April 2019, the Public Debt Department of the Central Bank said.

“The Government of Sri Lanka (GOSL) has been issuing International Sovereign Bonds (ISBs) since 2007,” a statement said.

“GOSL has maintained an unblemished record on servicing of its debt obligations timely, including ISBs, since independence.”

ISBs issued in January and April 2014 of 1,000 million in US dollars and 500 million dollars are due to mature in January and April 2019.

“The government has already made pre-funding arrangements for meeting the maturing ISB obligations in 2019 through proceeds of divestment of non-strategic assets and funding through syndicate arrangements,” the statement said.

“While exploring an ideal window to further access international capital markets, GOSL and Central Bank of have already initiated necessary actions to further diversify international market based foreign funding sources to jurisdictions outside conventional Eurodollar ISB issuances.”
(COLOMBO, 31 October, 2018)

https://economynext.com/Sri_Lanka_ready_to_repay_US$1.5bn_bonds_maturing_in_2019__Central_Bank-3-12412-3.html
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Fri Nov 02, 2018 10:26 am

Higher taxes discourage foreign investments in Sri Lankan banks: Com Bank chief

ECONOMYNEXT –Sri Lanka's banks are easy targets for higher taxes which is hurting profitability and discouraging foreign investors from buying banking stocks, said S. Renganathan, Chief Executive at listed Commercial Bank of Ceylon.

"Repeatedly taxing banks is a challenge. If we add more taxes that will impact earnings and Sri Lanka banks would be less attractive to investors," Renganathan said at a recent forum 'Financial Sector Investment Conference' organised by Asia Securities, a Colombo-based stock brokerage.

For foreign funds, Sri Lanka's banking stocks are a favourite entry point to Colombo's equities market, he said.

"We want to attract these funds at a time foreign investors are interested in other markets, but if we add more taxes...their confidence in the banking sector and equity markets will weaken," Renganathan said.

-Easy target-

"We keep hearing at many forums that banks always make profits, but any country that's growing (needs) banks that are doing well. If banks are not doing well then there is something wrong in that economy," he said.

Banks are taxed at the highest rate of 28 percent.

The new Inland Revenue Act of 2017 removed several exemptions like interest income from US dollar bonds and professional and SME loans.

There is also a 2 percent Nations Building Tax.

The government was proposing a 7 percent debt recovery levy which would increase the financial value added tax from 15 percent to 22 percent.

In the 2018 budget, the government also proposed a transaction tax of 20 cents tax for every 1,000 rupees, but banks were not allowed to recover this from their customers.

However, the two proposals hang in the balance with Sri Lanka locked in a constitutional crisis.

-Banking sector challenges-

Banking profits are expected to take a hit with new, tighter rules on non-performing loans coming in to affect.

Under IFRS 9 banks will be required to assess future cash flows of their lending portfolios, unlike in the past where banks measured credit profiles of borrowers based on historic accounting records.

As a result, according to Jonathan Alles, Chief Executive at listed Hatton National Bank, bad loans provisioning could double for banks.

Banking sector non-performing loans had already risen to 3.5 percent from a low of 2.5 percent last year on sluggish economic growth and weak consumption, but it was below historical trends.

Capital requirements for Sri Lankan banks have also increased due to the implementation of Basel III in July 2017.

"The banks have bridged most of the capital shortfall in 2017, but an additional 19 billion rupees of capital will be required by some large banks to meet full compliance by 2019," Fitch Ratings has said.

Listed bank reported a combined profit of 65.41 billion rupees in the June quarter, up 21 percent from a year earlier. (COLOMBO, 01 November 2018)
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Fri Nov 02, 2018 10:29 am

Sri Lanka may miss govt 2018 budget deficit target: central bank

ECONOMYNEXT – Sri Lanka’s government might miss its budget deficit target for 2018 given lower-than-expected revenue collection, the central bank has warned.

The overall budget deficit declined to 3.5 per cent of the estimated Gross Domestic Product during the first eight months of 2018 from 4.0 per cent in the corresponding period of 2017, it said in its half yearly report on recent economic developments and prospects for 2019.

This was because the reduction in government expenditure was higher than the decline in government revenue.

“Although improved performance was seen in some fiscal indicators during the first eight months of the year, it will be challenging to achieve fiscal targets stipulated in the 2018 Budget, unless proactive measures are taken to maintain the envisaged trajectory,” the report said.

Sri Lanka is targeting a budget deficit of 4.8 percent of gross domestic product in 2018.

“The lower revenue collection from import duties and the Cess levy, together with delays in the implementation of some revenue enhancement measures such as amendments to the Finance Act, could lead to significant deviations in revenue collection compared to the stipulated revenue targets,” the report said.

On the expenditure front, the decline in public investment would negatively affect economic growth and development in the country.

“Accordingly, the government’s strong commitment towards achieving the envisaged fiscal path is paramount ahead of election cycles, as imbalances in the fiscal sector may adversely affect overall macroeconomic stability of the country.”
(COLOMBO, 01 November, 2018)
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Fri Nov 02, 2018 10:30 am

Hambantota Port, telco lead FDI to Sri Lanka in 1H 2018

ECONOMYNEXT- The Hambantota Port transfer payments and telecommunication infrastructure drove the growth of foreign direct investments (FDI) in Sri Lanka during the first half of 2018, provisional data from the Central Bank showed.

FDI grew to 1.6 billion dollars in the first half of 2018 from 601.3 million dollars a year earlier,

"China, India, Hong Kong, Malaysia and Sweden were the top five source countries of FDIs in the first half of 2018," the Central Bank said.

Port terminals (mainly the Hambantota Port) brought in 898.2 million dollars in FDI from China in the first half of 2018, up from 0.7 million dollars a year earlier.

Telephone and telecommunication infrastructure FDI increased to 239 million dollars from 76.2 million dollars in 2017.

Amid Sri Lanka experiencing preferential tariffs from the European Union through GSP Plus, and clients moving from China to alternative sourcing destinations to escape the Trump trade war, FDIs into textile and wearing apparel increased 76.2 percent to 48.1 million dollars from a year earlier.

FDIs in hotels and restaurants increased 16.7 percent to 113.3 million dollars from a year earlier, although the sector was also the most riskiest for local banks during the six month period with many inexperienced investors entering into the industry.

Meanwhile, FDIs into the food, beverage and tobacco industries fell 82.2 percent to 6.7 million dollars from a year earlier.

Housing, property development, shops and offices was another major sector, receiving 205.1 million dollars in FDIs, although growth was only 3.1 percent from a year earlier.

FDI into chemicals, petroleum coal, rubber and plastic production fell 66.9 percent to 24.6 million dollars from a year earlier. (Colombo/Nov01/2018)
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Fri Nov 02, 2018 10:34 am

Sri Lanka looking at trade, payments 'measures' to stabilize rupee: Finance Ministry

ECONOMYNEXT - Sri Lanka says it is looking at 'external trade' and 'payment transactions," measures to stabilize the exchange rate, the finance ministry said as the rupee continued to slide amid sterilized intervention.

"The measures to further consolidation of external trade and payment transactions are also being examined to provide much needed stability to the exchange rate," the finance ministry said.

It is not clear whether 'further consolidation' refers to additional trade, exchange, or remmittance controls. Sri Lanka has already placed import controls on cars and some other products.

Sri Lanka operates a soft-pegged exchange rate regime, involving sterilizing interventions with new money, which tends to bring further pressure to the exchange rate, analysts have warned. (Colombo/Nov01/2018)
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Fri Nov 02, 2018 10:37 am

Sri Lanka budget targets could be met despite tax cuts: Finance Ministry

ECONOMYNEXT - Sri Lanka's finance ministry said budget targets could be met in 2018 despite tax cuts, announced Thursday, by trimming capital expenditure, after Mahinda Rajapaksa was appointed Finance Minister.

"..[The] government is confident that the primary surplus of 1.8 percent of GDP and the budget deficit of around 4.9 percent of GDP that have been targeted for 2018 could be achieved in support for further fiscal consolidation to provide economic stability," the Finance Ministry said.

Sri Lanka cut prices of fuel and slashed a number of taxes, raised the threshold on personal value added tax and lifted withholding tax on deposits.
A tax rate of 14 percent tax rate for agriculture businesses will be made available to individuals engaged in farming, bringing their rate down from 24 percent.

A concessionary tax rate of 14 percent on SME categories will be "extended to include individuals including those providing professional services," the statement said, brining the rate down from 24 percent.

The threshold for value added tax will be raised to 24 million rupees from 12 million for small businesses.

For wholesale and retail, the VAT threshold will be raised from 50 to 100 million rupees.

Withholding tax on interest on deposits has been lifted.

Remittances will be exempted from tax.

Telecom tax cut from 25 percent to 15 percent.

"The necessary Gazettes for the aforementioned tax related proposals will be issued today and Cabinet approval is sought to amend the necessary tax laws," the Finance Ministry statement said.

In Sri Lanka though the parliamnet is in theory in control of finances, some import taxes are changed through midnight gazette by decree. The statement came as Sri Lanka is in the grip of a political crisis after President Maithripala Sirisena appointed Mahinda Rajapaksa as Prime Minister and Finance Minister and the parliament is suspended. (COLOMBO, 01 November, 2018)


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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Sun Nov 04, 2018 8:08 am

Sri Lanka apparel exports up 9.2-pct in Sept driven by US

ECONOMYNEXT - Sri Lanka's apparel exports have grown 9.2 percent to 451 million US dollars, in September with exports to America up 16.23 percent to 222 million US dollar, an industry body said.

Exports to the EU were marginally down by 0.57 percent to 173 million US dollars.

Exports to other markets were up 16.67 percent to 56 million US dollars.

Total exports up to September were up 5.04 percent to 3,732 million US dollars, with exports to the US up 5.85 percent to 1,664 million US dollars.

Exports to the EU were up 4.43 percent to 1,578 million US dollars.

Exports to the EU which peaked at 1,626 million US dollars up to September in 2014 fell to 1,473 million US dollars in 2015 amid a withdrawal of GSP+ duty free access and has since recovered.

Amid a political crisis in Sri Lanka, the EU envoy has warned that if Sri Lanka sees a return to human rights violations, GSP concessions could be withdrawn.

Exports to other destinations were up 4.26 percent to 490 million US dollars. (Colombo/Nov04/2018)
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Sun Nov 04, 2018 8:13 am

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.

Sri Lanka lost so-called GSP+ access to the European Union when Mahinda Rajapaksa was President amid allegations of widespread human rights abuses and media suppression.

"The government got GSP on the basis of certain commitments, if these commitments are not met, then we would consider withdrawal,"EU ambassador to Sri Lanka, Tung-Lai Margue, was quoted as saying to Reuters, a news agency.

The European Union is worried the return of Rajapaksa as prime minister, could derail progress made toward national reconciliation following a war with ethnic minority Tamil separatists, the report said.

“I don’t know what his policy on reconciliation would be like. I have fears it won’t be the one we agreed on,” Margue was quoted as saying.

Namal Rajapaksa, Mahinda Rajapaksa's son had said such fears are unfounded.

"Reconciliation has, and always will be, a focal area for us," he told Reuters. "If there is concern that GSP will need to be withdrawn, these concerns are unfounded and presupposed in error."
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Sun Nov 04, 2018 8:26 am

Sri Lanka’s internet connections up 20-pct in first half of 2018: CBSL

ECONOMYNEXT - Sri Lanka’s internet connections were up 19.7 percent for the first half of 2018 to reach 6.6 million subscribers, compared to the previous year, a report released by the Central Bank said.

Fixed internet connections grew by 25.6 percent and mobile internet by 18.3 percent, the report said.

Mobile phone connections went up 7.5 percent for the first six months of 2018 to hit 30.2 million subscriptions, compared to last year.

Mobile phone penetration (number of connections per 100 people) reached 139.5 percent by end of June 2018, compared to 131.1 percent the previous year.

Total telephone penetration (mobile and fixed) was 151.2 percent at the end of the first six months.

The Telecommunications Regulatory Commission of Sri Lanka and the Information and Communication Technology Agency (ICTA), the main government bodies in the sector, have been working on developing the telecommunication landscape in Sri Lanka, the report said.

The ICTA is working on completing several projects in 2018.

The Lanka Government Network version 2.0 project is one.

The project, which will connect all government entities using a single network, was awarded to SLT in 2016. (COLOMBO, 02 November 2018)
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Mon Nov 05, 2018 4:21 pm

Heavy trading in John Keells (JKH) with over 1.5% of company changing hands

November 5, 2018 (LBO) – Sri Lanka’s constitutional crisis has lit a fire under the counrty’s stock market sending trading volumes soaring. Trading at the Colombo Stock Exchange passed the Rs4bn (US$23mn) mark with the trading day nearing a close.

Trading volume is being driven by transactions in market bellwether John Keells Holdings (JKH). Over Rs3.5bn worth of shares have transacted today amounting to approximately 1.5% of the company. Trading in JKH since the start of the political crisis has been driven by foreigners selling and locals buying.

Most of the shares transacted today have been at a price close to Rs150/share. A few weeks before the crisis the stock bottomed at Rs126/share and post crisis had jumped as high as Rs155/share before settling at todays level, where significant transactions are taking place.

http://www.lankabusinessonline.com/heavy-trading-in-john-keells-jkh-with-1-5-of-company-changing-hands/
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Re: Thread for News on CSE and SL Economy

Post by serene on Tue Nov 06, 2018 7:47 am

Thanks Mate
Harry J

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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Tue Nov 06, 2018 8:34 am

Sri Lanka complains to Russia over multi origin tea sold as ‘Ceylon tea’

ECONOMYNEXT - The Russian government is allowing any product with 50 percent of Sri Lankan grown tea to be labelled as ‘Ceylon tea,’ said Rohan Fernando, Chairman HVA Group.

“This is a problem that we are currently taking up with Russian authorities,” he said.

He said that this issue was seen in Kenya as well.

“Sri Lankan tea exporters should know how to best market Ceylon tea, by promoting the lion logo, and telling consumers that unless they see the lion log on the pack, they won’t get a pure Ceylon tea.”

The government has a five billion fund that is to be used for these kind of marketing and awareness programmes.

The fund was formed with contributions from the members of the Tea Exporters Association, but it still hasn’t been used for any related activities.

“We have been pushing since 2012 to get this programme going,” said Fernando, who is the immediate past president of the association.

“The government has promised to launch this programme in Russia next year, as an awareness campaign for pure Ceylon tea,” he said. (COLOMBO, 05 November 2018)
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Re: Thread for News on CSE and SL Economy

Post by malanp on Tue Nov 06, 2018 9:29 am

The Invisible wrote:Sri Lanka complains to Russia over multi origin tea sold as ‘Ceylon tea’


The government has a five billion fund that is to be used for these kind of marketing and awareness programmes.

The fund was formed with contributions from the members of the Tea Exporters Association, but it still hasn’t been used for any related activities.

)

I am quite sure none of our politicians are aware of this fund,, they will form a marketing company is Russia and award marketing contract to them.. after one year five billion will become zero without any marketing..

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Re: Thread for News on CSE and SL Economy

Post by nihal123 on Tue Nov 06, 2018 1:13 pm

සතියක දී රුපියල් බිලියන 10.97 ක බැඳුම්කර විදෙස් ආයෝජන ඉවතට
November, 6, 2018

2018 ඔක්තෝබර් 23 සිට ඔක්තෝබර් 31 දක්වා කාලපරිච්ඡේදය තුළ දී රජයේ සුරැකුම්පත් ආයෝජනවල විදේශීය හිමිකාරීත්වය රුපියල් බිලියන 10.97 කින් පහළ ගොස් ඇත.

2018 ඔක්තෝබර් 23 දින විදෙස් ආයෝජකයින් සතු රජයේ සුරැකුම්පත් වටිනාකම රුපියල් බිලියන 232.1 ක් ලෙසින් සටහන වන අතර එය 2018 ඔකතෝබර් 31 වන විට රුපියල් බිලියන 221.13 ක් දක්වා පහත වැටී ඇත.

මේ අතර 2018 වසරේ මේ දක්වා කාලපරිච්ඡේදය තුළ දී රජයේ සුරැකුම්පත්වල කර තිබූ ආයෝජනවලින් රුපියල් බිලියන 100.8 ක ආයෝජන ඉවත් කර ගැනීමට විදෙස් ආයෝජකයින් විසින් කටයුතු කර තිබේ.

ශ්‍රී ලංකා මහ බැංකුවේ නවතම සංඛ්‍යාලේඛනවල මෙම තොරතුරු සටහන් වේ.

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Re: Thread for News on CSE and SL Economy

Post by serene on Wed Nov 07, 2018 7:49 am

Olu gedi walata hena wedilada minisuunne to still support any fractions of political thieves.

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Re: Thread for News on CSE and SL Economy

Post by lanka on Wed Nov 07, 2018 8:06 am

Thanks, Nihal

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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Thu Nov 08, 2018 10:28 am

Sri Lankan govt intervenes in estate worker pay hike deadlock

ECONOMYNEXT - Sri Lanka's newly appointed Cabinet has asked the finance ministry to find a solution to estate worker demands for higher pay without overly burdening the economy, a government spokesperson said.

"I have asked Ministers Arumugam Thondaman (Minister ofHill Country New Villages, Infrastructure and Community Development) and Suresh Vadivel (State Minister of Plantation Industries) to submit proposals to S. R.Attygalle (Treasury Secretary)," Cabinet spokesperson Mahinda Samarasinghe said.

"We want to find a solution which will support the estate workers without overly burdening the economy," he said.

Estate workers are requesting their basic daily wage be increased to 1,000 rupees.

Workers now get a basic pay of 500 rupees along with incentive payments amounting to a total daily wage of 805 rupees.

Regional plantations companies (RPCs), which are now in a deadlock with trade unions over the pay hike, are proposing the industry shift entirely to a productivity-based wage model as the only way to meet union demands to double daily basic pay to 1,000 rupees.

The RPCs would ideally like to move towards an out grower model.

During the 2017 wage negotiations, the unions had rejected a fully productivity-based wage model in favour of a semi-productivity-based arrangement. (Colombo/Nov07/2018)
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Thu Nov 08, 2018 10:55 am

Sri Lanka central bank denies money printing amid concerns

ECONOMYNEXT - Sri Lanka's central bank has denied excessive money printing amid rising concern at the pace of liquidity injections and a sharp increase in domestic assets in its balance sheet in the form of government securities.

The central bank said its bill portfolio acquired outright and through repo injections has grown to 224 billion rupees by November 02. The central bank said most of the bills were acquired from the secondary market and were not related to the budget (fiscal position).

Reserve money (the monetary base) has only grown only from 1,010.5 billion rupees at the end September 2018, was recorded at Rs. 1,020.8 billion on 2 November 2018, the central bank said, indicating that most of the liquidity injected (money printed) were filling (sterilizing) the effects of foreign asset sales.

Economists in Sri Lanka are already debating the role of sterilized forex sales.

The full statement is reproduced below:

Economic Research Department 07 November 2018

Erroneous News Articles on Money Printing

The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to recent newspaper articles on increased money printing by the CBSL in the past few days. The CBSL wishes to provide the following clarification as the concepts and facts in such articles remain grossly inaccurate and misleading:

These articles suggest that the CBSL has printed a large amount of money recently to help finance the government’s fiscal commitments. Usually, money printing refers to the expansion of Reserve Money (Monetary Base).

Reserve Money, which was at Rs. 939.8 billion at end 2017 and at Rs. 1,010.5 billion at end September 2018, was recorded at Rs. 1,020.8 billion on 2 November 2018. This is a year-on-year growth in Reserve Money of 11.6 per cent, which is well within the CBSL projections for the year.

Meanwhile, rupee liquidity in the domestic money market has been in deficit since mid- September 2018, requiring the CBSL to conduct open market operations (OMOs) to provide adequate liquidity to the market, in addition to allowing market participants access to standing facilities at policy interest rates.

In view of the large and long term shortages of liquidity in the market, the CBSL conducted longer term reverse repurchase auctions and made outright purchases of Government securities mainly from the secondary market. These are regular monetary operations with market participants, which have no relevance to the government’s fiscal position or any particular political event.

As a result of such OMOs, the net book value of the Treasury bill holdings of the CBSL (gross book value of Treasury bills plus total value of reverse repos and standing lending facilities minus repos with the CBSL) was recorded at Rs. 224.4 billion on 2 November 2018.

However, on a gross basis, the CBSL holdings of government securities was Rs. 67.4 billion on November 2018. The fact that the growth in Reserve Money has remained subdued shows that recent OMOs have not had an undue expansionary effect on money supply in the economy.

The general public interested in gaining knowledge on monetary expansion is advised to refer to accurate technical articles that are published on the Central Bank website (e.g.: Article titled “Money Printing: Is there a Proper Control?” written by Mrs. Swarna Gunaratne, Assistant Governor, Central Bank of Sri Lanka.
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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Fri Nov 09, 2018 10:53 am

Tea prices to end down in 2018: Central Bank

ECONOMYNEXT - Average prices at auctions in Sri Lanka's capital will end down 2018, continuing a trend seen so far in the year, the Central Bank has said.

Average prices at the Colombo Auction are projected to be 587.76 rupees per kilogramme for 2018, compared to 620.44 rupees in 2017 or down 5.3 percent, a central bank report said.

For the first six months of 2018, the average tea price had been 605.17 rupees, down 2.2 percent from a year earlier.

"The highest decline was recorded for medium grown tea (5.5 percent), followed by high grown tea (2.9 percent) and low grown tea (1.7 percent), during this period," the central bank said.

In the four months since, tea prices have fallen even sharper, which would drag down the average from the 620.44 rupee average in the first 6 months.

Average prices in July fell 9.6 percent from a year earlier to 535.8 rupees per kilogramme.

Sri Lanka's rupee has also fallen this year as an unstable soft-peg came under pressure. A falling rupee tends to push up the price of all traded goods, including exports.

John Keells Tea Brokers said that prices in August fell 12 percent to 534.02 rupees, in September down 15.3 percent to 537.77 rupees and in October down 9.3 percent to 586.19 rupees.

The average export price of tea increased 4 percent from a year earlier to 828.13 rupees per kilogramme in the first six months of 2018.

The central bank is projecting export prices to be 817.04 rupees for the entirety of 2018 an increase from 807.44 rupees a year earlier.

Meanwhile, tea production for the first 6 months of 2018 grew 0.9 percent from a year earlier to 158.2 million kilogrammes, with rainy weather disrupting growth.

For the full year, the central bank projects tea production to increase 3.5 percent to 318.6 million kilogrammes. (Colombo/Nov11/2018)
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Re: Thread for News on CSE and SL Economy

Post by nihal123 on Fri Nov 09, 2018 11:33 am

මහ බැංකුව, රාජ්‍ය බැංකු ඇතුළු තැන තැන විසිරී තිබුණු ආයතන රැසක් මුදල් ඇමති යටතට
November, 9, 2018

නව රජයේ අමාත්‍යවරුන් භාරයේ පවත්නා විෂයයන්, කාර්යයන්, දෙපාර්තමේන්තු, රාජ්‍ය සංස්ථා හා ව්‍යවස්ථාපිත ආයතන, අති විශේෂ ගැසට් පත්‍රයක් මඟින් ප්‍රකාශයට පත් කර තිබේ. මෙම ගැසට් නිවේදනයට අනුව ශ්‍රී ලංකා මහ බැංකුව, සියලුම රාජ්‍ය බැංකු හා ඒවායේ පාලිත සමාගම් හා ආශ්‍රිත ආයතන, ශ්‍රී ලංකා සුරැකුම්පත් හා විනිමය කොමිසම, ජාතික හා සංවර්ධන ලොතරැයි මණ්ඩල ඇතුළු ආයතන 42 ක් මුදල් හා ආර්ථික කටයුතු අමාත්‍යාංශයට යටතට පවරා තිබේ.

මෙම අති වි‍ශේෂ ගැසට් පත්‍රයට අනුව මුදල් හා ආර්ථික කටයුතු අමාතයාංශය යටතට ගැනෙන ආයතන පහත පරිදි වේ.

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Re: Thread for News on CSE and SL Economy

Post by nihal123 on Fri Nov 09, 2018 12:59 pm

මුල් මාස 10 දී පැමිණි සංචාරකයින් ගණන දහඅට ලක්ෂය ඉක්මවයි
November, 9, 2018

2018 ජනවාරි සිට ඔක්තෝබර් දක්වා මාස 10 ක කාලපරිච්ඡේදය තුළ දී ශ්‍රී ලංකාවට පැමිණ ඇති විදෙස් සංචාරකයින්ගේ සංඛ්‍යාව 1,885,045 ක් බව ශ්‍රී ලංකා සංචාරක සංවර්ධන අධිකාරියේ නවතම සංඛ්‍යාලේඛන පෙන්වා දේ.

කෙසේ වෙතත් පූර්ව මාස හා සැසඳීමේ දී පසුගිය ඔක්තෝබර් මාසයේ දී පැමිණ ඇති සංචාරක සංඛ්‍යාවෙහි වර්ධනය මන්දගාමී වී තිබේ. එය 2017 වසරේ ඔක්තෝබර් මාසයට වඩා 0.5% ක් තරම් පහළ අගයකි.

2018 ඔක්තෝබර් මාසයේ දී චීනයෙන් පැමිණ ඇති සංචාරකයින් ගණන් 13.6% කින් පහළ ගොස් ඇති අතර එක්සත් රාජධානියෙන් පැමිණ ඇති සංචාරකයින් ගණන 41.2% කින් ඉහළ ගොස් ඇත

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Re: Thread for News on CSE and SL Economy

Post by The Invisible on Mon Nov 12, 2018 10:41 am

Sri Lanka forex reserves rise in October with China loan

ECONOMYNEXT - Sri Lanka's forex reserves rose 736 million US dollars to 7,900 million US dollars in October 2018 from a month earlier, helped by a loan from China, official data shows.

In September forex reserves fell 1.4 billion US dollars to 7,180 million US dollars.

In October Sri Lanka received the proceeds of a billion US dollar loan from China, boosting forex reserves.

Interventions have also continued in forex markets, with sales of stocks and bond by foreign investors amid a political crisis.

The pressure on the rupee began before the current political crisis.

Sri Lanka is now sterilizing forex sales or printing money to fill liquidity shortages coming from dollar sales and maintain the monetary base.

The central bank said its Treasury bill stock acquired outright and through reverse repo deals, had risen to 224.4 billion rupees by November 02. (Colombo/Nov11/2018)
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