ECONOMYNEXT- Sri Lanka is in talks with Canada-based entrepreneurs of Sri Lanka origin to build a 500 million dollar industrial park in Kankesanthurai in the Jaffna peninsula, State Minister for Investment Promotion Dilum Amunugama said. The industrial park will be built on 700 acres by a defunct state-run cement factory. The investors will invest 500 million dollars to build infrastructure in the land given by the Board of Investment under a private public partnership model. The Canadian entrepreneurs will build roads and other infrastructure and will attract investors into the zone to recove ..read more

ECONOMYNEXT – Sri Lanka’s rupee closed weaker at 299.00/30 to the US dollar on Friday from 298.65/80 the previous day, dealers said. Bond yields were down, dealers said. A bond maturing on 15.12.2026 closed down at 10.40/55 percent from 10.60/65 percent. A bond maturing on 15.09.2027 closed down at 10.70/85 percent from 10.90/11.00 percent. A bond maturing on 15.03.2028 closed down at 11.15/25 percent 11.35/45 percent. A bond maturing on 15.05.2030 closed down at 11.90/12.05 percent 12.05/15 percent. A bond maturing on 01.10.2032 closed down at 12.10/20 percent from 12.25/35 percent. (Colombo ..read more

ECONOMYNEXT — The leadership of Sri Lanka’s main opposition Samagi Jana Balawegaya (SJB) are still members of the United National Party (UNP), according to former chairman of the now-defunct Ape Jathika Peramuna (AJP) Senaka de Silva. de Silva, who is the spouse of former MP Diana Gamage, said at a press conference on Friday May 10 that according to the party constitution members cannot hold membership of two parties at once. “We’re talking to our lawyers about next steps. Neither I or Diana Gamage sold a party. We gave him this party for the country. I gave the party to Sajith Premadasa and m ..read more

ECONOMYNEXT – The Colombo Stock Exchange closed up on Friday, data on its site showed. The broader All Share Index closed up 0.98 percent, or 122.07 points, at 12,518; while the S&P SL20 Index closed up 1.71 percent, or 62.88 points, at 3,735. Turnover was at 2.5 billion. Capital goods (Rs680mn) and banks (Rs665mn) brought in the most turnover. Browns Investments Plc saw the most active trading volumes (Rs186mn) in the day, and the share closed up at 6.70. Royal Ceramics Lanka Plc also saw investor interest (Rs183mn), and closed up at 36.40. Lion Brewery (Ceylon) Plc which announced a cash ..read more

ECONOMYNEXT – Sri Lanka’s Ministry of Defense said it has established a special unit to deal with the trafficking of retired military personnel for the Russia-Ukraine war. Families of those concerned have been requested to provide pertinent information to the special unit via telephone number 0112441146. The Ministry requests that “family members of the concerned provide information about retired Sri Lankan military personnel who have joined the Russia-Ukraine war via various routes, including the dates of their departure, persons and institutions that had coordinated their passages,” a statem ..read more

ECONOMYNEXT – Sri Lanka’s opposition politician Mujibur Rahuman became the second legislator to be sworn in twice as an MP in the current parliament elected in 2020, the data showed. Rahuman sworn in as Member of Parliament on Friday (10) to fill vacancy created by former State Tourism Minister Diana Gamage’s disqualification through a Supreme Court order. Rahuman, a key member of Sri Lanka main opposition Samagi Jana Balawegaya (SJB) resigned from parliament in January 2023 to contest the local government elections that was scheduled for March last year. However, that election never took plac ..read more

ECONOMYNEXT — Sri Lanka’s main opposition Samagi Jana Balawegaya (SJB)’s Mujibur Rahuman returned to parliament, replacing State Minister of Tourism Diana Gamage who was ruled illegible for parliament. Rahuman was sworn in as an MP before Speaker Mahinda Yapa Abeywardena Friday May 10 morning. He had resigned last year to contest the local government election which has been indefinitely postponed. Rahuman was the SJB’s candidate for Colombo mayor. The Supreme Court made the verdict on Gamage on Wednesday May 08 when a petition filed against her was taken up for consideration. The petition was ..read more

ECONOMYNEXT – Sri Lanka’s Ministry of Defense said it has established a special unit to deal with the trafficking of retired military personnel for the Russia-Ukraine war. Families of those concerned have been requested to provide pertinent information to the special unit via telephone number 0112441146. The Ministry requests that “family members of the concerned provide information about retired Sri Lankan military personnel who have joined the Russia-Ukraine war via various routes, including the dates of their departure, persons and institutions that had coordinated their passages,” a statem ..read more

ECONOMYNEXT – Sri Lanka’s central bank is in discussions with the telecom regulator to tighten the re-issue of mobile subscriber identification modules (SIMs) as part of efforts to stop mobile phone banking fraud, Director of Payments and Settlements K V K Alwis. The central bank together with banks are tightening security on an ongoing basis as hackers and other fraudsters develop new ways to defraud customers. One such method is to re-issue a mobile sim of a mobile phone banking customer whose account number and telephone number is known to the fraudster by persuading a mobile phone agent to ..read more

ECONOMYNEXT – Sri Lanka’s rupee opened almost flat at 298.40/80 to the US dollar on Friday from 298.65/80 the previous day, dealers said. Bond yields were broadly steady, dealers said. A bond maturing on 15.12.2026 was quoted down at 10.58/65 percent from 10.60/65 percent. A bond maturing on 15.09.2027 was quoted up at 10.95/11.00 percent from 10.90/11.00 percent. A bond maturing on 15.03.2028 was quoted stable at 11.35/45 percent. A bond maturing on 15.12.2028 was quoted at 11.50/60 percent. The Colombo Stock Exchange opened up; The All Share Price Index was up 0.28 percent at 12,432, and the ..read more