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Tennessee Tragedy: UTIA offers insight into impact on ag following deadly flood

Dilmah Tea and Kahawatte Plantations donate Rs. 25 mn. High Dependency Care Unit to Nawalapitiya General Hospital

ASPI ends higher amid healthy turnover levels

The ASPI ended higher amid healthy turnover levels yesterday with most sectors witnessing advances. DIAL, Lanka Walltiles PLC and Lanka Aluminium Industries PLC led market activity with crossings also seen in HNB. Trading in Dialog amounted to 21% of total turnover. =Capital Goods was the most actively traded sector (+1.92%) =Diversified Financials was the best […]

Bangladesh joins China, South Korea in bailing out SL

Bangladesh has joined China and South Korea by approving a currency swap to bail out Sri Lanka, which is facing its worst foreign exchange crisis, officials said Wednesday according to AFP. The central bank of Bangladesh on Tuesday approved a $ 250 million deal – its first currency swap – after Sri Lanka appealed for […]

Rupee devaluation, high shipping rates hurt tea prices at Colombo auctions

by Steve A. Morrell The Sri Lankan rupee weakening against the US dollar coupled with surging shipping rates reflected adversely on tea prices at the Colombo auctions. This contributed to regressive price trends in Colombo, Forbes & Walker (F&W) said in its weekly Tea Market report. The average for April 2021 was Rs. 627. 41 in comparison to Rs. 689.18 the corresponding month in 2020, indicating a minus variant Rs. 61. 77. Brokering sources collectively said such price trends could result in negative market conditions seriously affecting profits at producer levels. The depreciation of currencies in importer countries also contributed to depleting prices in Colombo apart from other allied trading disruptions, they said.