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23/07/2024

Presidential election is a certainty

Budget allocations have been made only for a Presidential Election this year, hence holding of which a certainty. 's President has informed govt MPs
-Adaderana

 's main tourism challenge is competing with neighbouring countries that offer visa-free entry -Tourism MinisterSays hig...
23/07/2024

's main tourism challenge is competing with neighbouring countries that offer visa-free entry -Tourism Minister

Says high visa cost & complex applications are main deterrents

Advocates for visa-free entry & optimistic that President will make a favourable decision
-DFT

  stock market plummetsASPI falls 165 points (1.41%) to 11,562 hitting a 3-month low
22/07/2024

stock market plummets

ASPI falls 165 points (1.41%) to 11,562 hitting a 3-month low

21/07/2024

President Joe Biden drops out of the Presidential race
-Bloomberg

21/07/2024

govt has repaid Rs.129 billion more than it has borrowed from treasury bills & bonds during the first 6 months of 2024

Total borrowed - Rs.4,852Bn
Total repaid - Rs.4,981Bn
-State Minister Semasinghe

20/07/2024

Why a constitutional amendment now to change a redundant clause?

It's just to trigger a referendum

RW's attempt to shift the tide in his favour by winning a referendum, which no one can object to, prior to the Election

A campaign promotion at the expense of tax payers' money

20/07/2024

Sri Lanka needs to start producing bran oil -Indian expert

India is using paddy husks to produce Bran oil & they are ready to follow this technology with

It's unfortunate to see that SL is virtually throwing this substance away without putting it to productive use
-DN

19/07/2024

Tourist arrivals in July exceed one hundred thousand

has recorded 109,393 arrivals during the first 18 days of July 2024 -SLTDA data
🇱🇰🏃‍♀️🏃🏻‍♂️🌏

19/07/2024

President orders the publication of the 22nd Constitutional Amendment via Gazette
👇🏼

19/07/2024

Foreigners pile-up on stocks

Net foreign inflow to Colombo Stock Exchange grew to Rs.454Mn yesterday from Rs.393Mn on Wednesday boosting the figure for July so far to Rs.3.6 billion
-DFT
💵📈🇱🇰

Sri Lanka’s first IMAX cinema opens next weekScope Cinemas is set to officially launch  ’s first IMAX Theatre at Haveloc...
18/07/2024

Sri Lanka’s first IMAX cinema opens next week

Scope Cinemas is set to officially launch ’s first IMAX Theatre at Havelock City Mall on July 24, 2024, revolutionising cinema experiences
-NewsWire

18/07/2024

Electricity tariff cut is a welcome relief for 's hotel industry to sustain operations -THASL

Since 2022, the electricity costs have been the highest operational expense for hotels, making it challenging to manage costs & for the industry to offer competitive rates
-DM

17/07/2024

Significant reduction in tea fertilizer prices

🍃 Minister of Agriculture has informed the govt fertilizer company to reduce the prices of five types of fertilizer used for tea, cinnamon & coconut by Rs.1,500 to Rs.2,000
-Esana

17/07/2024

's apparel industry hails PUCSL electricity tariff cut

In 2022, tariffs soared from Rs6.58/kWh to Rs34/kWh, contributing to a decline in apparel exports from $5.6Bn to $4.5Bn. Tariff cut will alleviate some pressure, allowing industry to regain its competitive edge
-DFT

16/07/2024

Cargills Ceylon ramps up expansion plans of retail stores, restaurants, Cargills Square malls & digitalisation

“With renewed optimism in the economy, gradual pickup in consumer sentiment & single-digit interest rates, we will look to accelerate our expansion plans” -Chairman
-DM

Both Manufacturing & Services sectors in   expanded in June 2024 with PMIs recording over 50🏭 Manufacturing PMI recorded...
15/07/2024

Both Manufacturing & Services sectors in expanded in June 2024 with PMIs recording over 50

🏭 Manufacturing PMI recorded 56.6 indicating an expansion at a slower rate than in May

🏨 Services PMI recorded 63.5, indicating an expansion at a faster rate than in May
-CBSL

  hotels get a 26% reduction in electricity tariff👏🏼⚡"One of the main concerns at the public hearing was to give some be...
15/07/2024

hotels get a 26% reduction in electricity tariff👏🏼

⚡"One of the main concerns at the public hearing was to give some benefit to hotels” -PUCSL Chair

⚡Industries get 25.3% reduction. Overall avg tariff cut is 22.5% with domestic category getting an avg 26.8% cut
-EN

15/07/2024

June qtr earnings season to kick off in earnest with a bang

📈 Analysts expect Jun qtr earnings to come in stronger both from a year-on-year level as well as qtr-on-qtr level

📈 Jun qtr likely to see a bump in earnings from lower borrowing costs, higher top-lines
-Daily Mirror

14/07/2024

Thailand Expands Visa-Free Status to 93 Nations to Boost Tourism

will allow visa-free entry for people from 93 countries & territories starting July 15, an increase from the current 57 regions, with visitors allowed to stay for up to 60 days
-Bloomberg
🌏✈️🇹🇭

  awarded the 6th Best Island, in Travel+Leisure Luxury Awards Asia Pacific 2024✈️🏝️🇱🇰
13/07/2024

awarded the 6th Best Island, in Travel+Leisure Luxury Awards Asia Pacific 2024
✈️🏝️🇱🇰

Sri Lanka is the 5th most affordable travel destination in Asia according to Times of India“Known for its tea plantation...
12/07/2024

Sri Lanka is the 5th most affordable travel destination in Asia according to Times of India

“Known for its tea plantations, beaches, & ancient cities like Sigiriya, is affordable for accommodation, food & transport” -Special travel edition "Times Travel"
-DM

INR/day👇🏼

12/07/2024

's COPF recommends the cancellation of visa process outsourcing deal with VFS Global

🚫 Proper tender procedures not followed
🚫 Deal signed without a specification doc
🚫 Contractor not invested the promised $200Mn
-Harsha De Silva

🚫 VFS scam is $2.6Bn -Rauff Hakeem
-DM

12/07/2024

Green light for motor vehicle imports by 1st qtr, 2025

🚗 Govt will most likely lift the ban on import of private motor vehicles from the end of first quarter of 2025

🚗 Decision in this regard would be taken by the end of August -State Minister Semasinghe
-Daily News
🇱🇰🚙

11/07/2024

✅ Railway strike called-off
✅ University non-academic staff strike called-off

10/07/2024

to Offer Visa-Free Travel to 20 Countries

"The process is almost complete, & the list of 20 countries have been submitted. We are proposing visa-free entry for tourists from countries that provide the greatest economic impact" -Tourism Minister
-JakartaGlobe
🌏✈️🇮🇩

10/07/2024

International Cooperation Agency (JICA) agrees to resume the 2nd terminal extension project of 's Bandaranaike International Airport, under a concessionary loan scheme -Aviation & Ports Minister
-Adaderana
🇱🇰🤝🇯🇵

10/07/2024

's post-crisis construction interest surpasses economic boom levels

"Private sector is investing in big projects. Bigger players have taken this crisis as an opportunity. Public sector spending on infrastructure projects is also increasing" -EVC, Access Eng
-DM
🇱🇰🏗️📈

10/07/2024

Legislation passed in Parliament to pave way for to enter

Parliament passed an amendment to the telecom regulatory law, which will allow 's Starlink to be licensed

New law will also provide framework to license & regulate cable landing stations
-EN

 's Rice and Curry is the 6th best rice dish in the world according to TasteAtlas, in a ranking where seven out of the t...
09/07/2024

's Rice and Curry is the 6th best rice dish in the world according to TasteAtlas, in a ranking where seven out of the top 10 dishes are Japanese
🇱🇰🍛

Market oversold  stock market's RSI (1-yr chart) fell below 30 indicating the market is oversoldLast time RSI slid below...
09/07/2024

Market oversold

stock market's RSI (1-yr chart) fell below 30 indicating the market is oversold

Last time RSI slid below 30 was in Jan 2024 when ASPI fell to 10400. There, RSI stayed below 30 for approx 10 days, thereafter a bull-run started pushing the ASPI to 12500

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