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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 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 […] ....
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. ....
Economy at a glance for 2020:Double whammy blow lankabusinessonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lankabusinessonline.com Daily Mail and Mail on Sunday newspapers.
According to Forbes & Walker comments released on December 22, Sri Lanka tea production for the month of November 2020 totalled 24.8 M/kgs, showing an increase of 0.8 M/kgs vis-à-vis 24.0 M/kgs of November 2019. Meanwhile, High and Mid Growns have shown a decrease, whilst Low Growns show a fairly significant increase compared to the corresponding month of 2019 and largely reflects a recovery after a drought induced decline in 2019. January-November 2020 cumulative production totalled 249.9 M/kgs recording a deficit of 28.3 M/kgs vis-à-vis 278.2 M/kgs of January-November 2019. On a cumulative basis, all elevations have shown a decrease, with Low Growns showing the highest deficit. ....