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HEADLINES - 3rd August 2018


Docs strike today – Daily News

The Government Medical Officer’s Association (GMOA) will strike from this morning, GMOA Secretary Dr. Haritha Aluthge said. He said that only an intervention from the President can stop the strike or it will continue for the next 24 hours.


Call for Lanka to promote more intra-Commonwealth trade, investment – Daily News

Sri Lanka should promote more intra-Commonwealth trade and investment as there are growing opportunities in this area, said Commonwealth Secretary-General Rt. Patricia Scotland QC.


Sri Lanka maritime industry players come together to resolve industry issues – LBO

Sri Lanka Ports Authority (SLPA) and Sri Lanka Customs (SLC) together with other industry players have initiated a joint process to resolve the current maritime industry-related issues. Sri Lanka Ports Authority said Ceylon Association of Shipping Agents (CASA) and members of Sri Lanka Association of Vessel Operators (SLAVO) are also participating in this process.


H’tota Port set to accomplish top position in region – Daily News

Just about six months into its operations, and the Hambantota port is gearing up to become the number one port in the region. A combination of factors is carefully designed and put together to achieve this goal.


Sri Lankan industry wants more budget support for rubber production – EconomyNext

Sri Lankan manufacturers of natural rubber products have urged the government to allocate more money for rubber cultivation in its budget for 2019 to revive dwindling production. The Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) said in a statement the rubber industry is the fourth largest export sector in the country with total sales of almost a billion dollars.


Tsunami of 1000cc vehicle imports after new tax formula: Mangala – Daily Mirror

After introducing of a new formula to calculate the import taxes on vehicles based on their engine capacity, importing of motor vehicles less than 1000cc was becoming a Tsunami to the country, Finance Minister Mangala Samaraweera said.


Hayleys invites Otara to Singer SL Board as first ever female director – DailyFT

Singer Sri Lanka PLC, a subsidiary of business leader Dhammika Perera-controlled Hayleys PLC, has appointed fashion icon and entrepreneur Otara Gunewardene to the Board as a Non-Executive Director.


Ruvini Fernando and Dushni Weerakoon join Cargills Bank Board – Ceylon Today

Cargills Bank Limited recently announced the appointment of Ruvini Fernando and Dr. Dushni Weerakoon as Independent Non- Executive Directors to its Board of Directors with effect from 1 August 2018, a press release stated.


Rupee ends weaker on importer dollar demand – DailyFT

Reuters: The rupee ended marginally weaker on Thursday as late dollar demand from foreign banks surpassed greenback sales, traders said. The rupee, which traded at Rs. 159.80 per dollar during the day, ended weaker at 159.75/85 per dollar compared with Wednesday’s close of 159.55/65. It has fallen 4.04% so far this year, and hit a record low of 160.17 on 20 June.


Sri Lanka keeps rates unchanged – EconomyNext

Sri Lanka has kept policy rates unchanged at a monetary policy meeting in August 2018 meeting, saying there is an economic recovery and inflation is expected to be around on the high side to 4-6 percent.


CSE indices inch-up anticipating positive CBSL announcements – The Island

Both CSE indices  moved up marginally, anticipating some positive  announcements at the monthly monetary policy review of the Central Bank today, market sources said.


Bond rally continues ahead of monetary policy announcement – DailyFT

The secondary bond market rally continued as yields decreased once again yesterday, recording its fourth consecutive day of dips on the back of continued buying interest. Yields on the liquid maturities of the two 2021s (i.e. 01.03.21 and 01.05.21), 15.03.23, 01.08.24 and 15.10.25 were seen decreasing to intraday lows of 9.55%, 9.60%, 9.95%, 10.00% and 10.12% respectively while the two 2019s (i.e. 01.07.19 and 15.09.19), 01.05.20, 01.08.21, 01.08.26 and 15.06.27 maturities were also traded at levels of 9.15% to 9.30%, 9.45%, 9.62% to 9.65%, 10.15% to 10.17% and 10.25% to 10.28% respectively.


Gold demand in the first half was the lowest since 2009: WGC – DailyFT

LONDON (Reuters): Global demand for gold fell 6% in the first half of this year due mainly to a sharp decline in purchases by exchange traded funds (ETFs), the World Gold Council said in a report on Thursday.


SLMC chairman resigns – Daily Mirror

Prof. Colvin Gunarathne has resigned as Chairman of the Sri Lanka Medical Council (SLMC) due to the shortcomings in the Medical Ordinance.


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