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HEADLINES - 8th August 2018

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Economic Summit 2018 - shifting gear, realizing Vision 2025 – The Island

The session titled "Turnaround; Shifting Gear from Slow to Fast Track"  which is to be held at Cinnamon Grand on September 13 from 11.30am to 1pm, at the Economic Summit 2018, will focus on game-changers for Sri Lanka. The session will explore the ways in which Sri Lanka’s future is shaping, and what institutional reforms will be required to create a shift in the economy from a slow to a fast track. Practical steps required for achieving Vision 2025 will be outlined with a discussion on both the role of the state and enterprises in the realization of the overall vision.

 

July tourist arrivals up 6% - DailyFT

According to the Sri Lanka Tourism Development Authority (SLTDA), in July the largest source market for tourists was India, followed by China and the United Kingdom.

 

1.12M arrivals more to hit target – Ceylon Today

With tourist arrivals during the first seven months up 13.7 per cent to 1,382,476 visitors from 1,215,926 a year ago, the Government needs to attract more than 1.12 million travellers during the next five months to achieve its ambitious target.

 

SL on course for US$ 17.5 bn export target for 2018 – Daily News

Chairperson, Export Development Board, Indira Malwatte, said the government has set up an export target of US$ 20 billion revenue for 2019 and 23 billion for 2020 end, and has already achieved 60% of that target by end of July 2018. “The export target set for 2020 is US$ 28 billion and these targets are now falling in line and are achievable.” She also said that unlike some other countries, Sri Lanka does not include and add revenue generated from tourism to export revenue.

 

Messe Frankfurt bullish on SL’s prospects - DailyFT

Messe Frankfurt, the world’s largest trade show organiser, yesterday announced plans to open a sales office in Colombo in December, while reinforcing its commitment to make Sri Lanka a regional hub in South Asia given its strong growth potential. The bullish trade fair giant also announced plans to bring down its Board Member Stephan Kurzawski for a two-day visit to Sri Lanka next month to illustrate Colombo’s great connectivity and its growing economic potential.

 

Sri Lanka to add 31 factories to Mirigama export zone – EconomyNext

Sri Lanka is expanding an industrial zone in Mirigama in the north central region to accommodate 31 more foreign invested factories, the country's investment promotion agency said. The Mirigama Export Industrial zone, which is 35 kilometres away from the main international airport in Katunayake is on a 260.5 acre of land on which nine industries now occupy 50.69 acres. The expansion will see 31 industrial slots added in a 108 acre area.

 

Fuel prices might drop after Friday: Ministry – Daily Mirror

The scheduled fuel price revision every two months would come to effect on Friday (10) where there might be a drop in fuel prices, the Finance Ministry said.

 

Cabinet rejects proposal for Rs. 200,000 allowance to MPs – DailyFT

Cabinet has rejected a proposal to offer a Rs. 200,000 allowance to Government parliamentarians engaged in monitoring development projects, a top official told Parliament yesterday. 

 

Rs. 27 b supplementary allocation presented to P’ment – DailyFT

A Supplementary Allocation of Rs. 27 billion was presented to Parliament yesterday seeking House approval for expenses incurred for June 2018 to fund 51 different programs and purposes.

 

Sri Lanka defence conference to discuss Pakistan political changes – EconomyNext

 

Sri Lanka will host an international defence conference which will discuss, among others issues, how Pakistan's powerful military will interact with the new political leadership of Imran Khan.

 

Five major crossings from JKH but CSE's main indices decline – The Island

The Colombo Stock Exchange (CSE) turnover was dominated by crossings yesterday. Five major crossings took place from JKH, while one crossing  each was reported from Ceylinco Insurance and Seylan Bank. The crossings contributed more than 75 percent to the day's turnover, stock market analysts said.

 

Rupee edges down on importer dollar demand – DailyFT

Reuters: The rupee ended marginally weaker on Tuesday as demand for the US dollar from foreign banks surpassed mild inward remittances, traders said.

 

Positive momentum in bond market continues ahead of weekly bill auction – DailyFT

The positive momentum in the secondary bond market continued yesterday as well, with the liquid maturities of 15.03.23 and 01.08.24 changing hands at lows of 9.85% and 9.94% in comparison to the previous day’s closing levels of 9.90/92 and 9.95/00.

 

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