elanka Finance

The Role of Divestments in Overcoming Present Economic Challenges – by Imesha Dissanayake Source:Sri Lanka Guardian Divestiture can bring in investors with the capacity to invest in expansions. The Government of Sri Lanka (GoSL) has very ambitious plans for the country’s economic transformation including an economic growth expectation of more than 6% during five-year period of 2022-2027. The national budget announced in 2022, forecasts public investments to be at 5.1% of GDP. A similar figure was announced during the last budget as well where it was targeted at 5.4% of GDP but currently the estimate for 2021 is at 3.5%. The total tax revenue estimated in the national budget was an optimistic expectation as well with a growth projection of 50% (LKR 662 billion) in 2022. This is far more than what past budgets had also projected. This increase in revenue is expected to reduce the budget deficit as a percentage of ...

Read More →

John Keells Stock Brokers (JKSB) – Sri Lanka – STOCK MARKET WEEKLY  25-02-2022 John Keells Stock Brokers (JKSB)   John Keells Stock Brokers (JKSB) is a leading equity brokerage house in Sri Lanka and is a subsidiary of John Keells Holdings PLC (JKH), the largest listed entity on the Colombo Stock Exchange (CSE). We are one of 15 founding members of the Colombo Stock Exchange and our history in equity trading dates back to 1896. We are widely regarded in the industry for good governance practices with an emphasis on compliance and regulations. Our core sales and research staff have been engaged with the firm for a period of 10 – 25 years. Over the years this has helped JKSB develop strong and lasting relationships with our core client base of Foreign Funds/Individuals, Local Institutions and HNWI’s. This has contributed to our superior offering of order sourcing and placement capabilities. JKSB ...

Read More →

John Keells Stock Brokers (JKSB) – Sri Lanka – STOCK MARKET WEEKLY February 18, 2022 John Keells Stock Brokers (JKSB) John Keells Stock Brokers (JKSB) is a leading equity brokerage house in Sri Lanka and is a subsidiary of John Keells Holdings PLC (JKH), the largest listed entity on the Colombo Stock Exchange (CSE). We are one of 15 founding members of the Colombo Stock Exchange and our history in equity trading dates back to 1896. We are widely regarded in the industry for good governance practices with an emphasis on compliance and regulations. Our core sales and research staff have been engaged with the firm for a period of 10 – 25 years. Over the years this has helped JKSB develop strong and lasting relationships with our core client base of Foreign Funds/Individuals, Local Institutions and HNWI’s. This has contributed to our superior offering of order sourcing and placement capabilities. ...

Read More →

Ceylon Cinnamon clinches country’s first GI status Source:ft.lk Major breakthrough for one of Sri Lanka’s iconic spices obtaining European Union Commission awards Geographical Indication (GI) certification Decade-long effort by multiple stakeholders comes to fruition offering Sri Lanka opportunity to differentiate and be competitive against substitutes of lower quality in EU Achievement a major boost for over 30,000 stakeholders involved in cinnamon industry Marking a milestone, Ceylon Cinnamon on Wednesday had received the country’s first-ever Geographical Indication (GI) certification and status from the European Union (EU) Commission. The outcome was a result of a painstaking, decade-long, arduous endeavour led by the Sri Lanka Export Development (EDB) under the Ministry of Trade with the support of numerous public and private stakeholders. The Daily FT on 28 January first reported the impending milestone via a Guest Column by spice industry champion Sarada de Silva (ft.lk/columns/Ceylon-Cinnamon-on-verge-of-obtaining-geographical-indications-a-first-for-Sri-Lanka/4-729756). The Export Development Board (EDB) said yesterday GI ...

Read More →

Tourism – restricting outflow of foreign exchange -by G. A. D. Sirimal Source:island.lk Minister of Tourism, Prasanna Ranatunga, has declared the arrival of large numbers of foreign tourists here. He says about 82,327 of them came here in January, bringing in much needed foreign exchange. Has the Minister found out how much dollars these tourists have brought in and how much has been spent in Sri Lanka? Except those who come on business and stay in five-star hotels, other tourists spend very little. Some female tourists overstay their visas and engage in sex trade. I wish to relate an experience, when I visited Russia to attend a seminar conducted by ESCAP in 1985, when Russia’s economy was poor. ESCAP had deposited a certain sum in dollars with the organiers in Russia to meet payments to delegates and this amount was converted to Russian currency – rubles and paid to delegates ...

Read More →

John Keells Stock Brokers (JKSB) – Sri Lanka – STOCK MARKET WEEKLY 03-02-2022 John Keells Stock Brokers (JKSB) John Keells Stock Brokers (JKSB) is a leading equity brokerage house in Sri Lanka and is a subsidiary of John Keells Holdings PLC (JKH), the largest listed entity on the Colombo Stock Exchange (CSE). We are one of 15 founding members of the Colombo Stock Exchange and our history in equity trading dates back to 1896. We are widely regarded in the industry for good governance practices with an emphasis on compliance and regulations. Our core sales and research staff have been engaged with the firm for a period of 10 – 25 years. Over the years this has helped JKSB develop strong and lasting relationships with our core client base of Foreign Funds/Individuals, Local Institutions and HNWI’s. This has contributed to our superior offering of order sourcing and placement capabilities. JKSB has ...

Read More →

John Keells Stock Brokers (JKSB) – Sri Lanka – STOCK MARKET WEEKLY 28-01-2022John Keells Stock Brokers (JKSB) John Keells Stock Brokers (JKSB) is a leading equity brokerage house in Sri Lanka and is a subsidiary of John Keells Holdings PLC (JKH), the largest listed entity on the Colombo Stock Exchange (CSE). We are one of 15 founding members of the Colombo Stock Exchange and our history in equity trading dates back to 1896. We are widely regarded in the industry for good governance practices with an emphasis on compliance and regulations. Our core sales and research staff have been engaged with the firm for a period of 10 – 25 years. Over the years this has helped JKSB develop strong and lasting relationships with our core client base of Foreign Funds/Individuals, Local Institutions and HNWI’s. This has contributed to our superior offering of order sourcing and placement capabilities. JKSB has always ...

Read More →

Tourist payments : Three new regulations from Central Bank Source:newswire.lk Statement from Central Bank CENTRAL BANK MAKES IT MANDATORY FOR HOTEL SERVICE PROVIDERS TO ACCEPT PAYMENTS FROM PERSONS RESIDENT OUTSIDE SRI LANKA IN FOREIGN EXCHANGE The Monetary Board of the Central Bank of Sri Lanka issued Rules making it mandatory for hotel service providers to accept payments from persons resident outside Sri Lanka, only in foreign exchange. These Rules are published in the Gazette Extraordinary No. 2263/41 dated 21 January 2022. With the issuance of the Rules, hotel service providers registered with and licensed by the Sri Lanka Tourism Development Authority are required to; • Accept payments for services rendered to persons resident outside Sri Lanka only in foreign exchange. • Deposit such foreign currency into a Business Foreign Currency Account of the hotel service provider or sell to a licensed bank within three business days. • Credit payments into ...

Read More →

John Keells Stock Brokers (JKSB) – Sri Lanka – STOCK MARKET WEEKLY 21-01-2022 John Keells Stock Brokers (JKSB) John Keells Stock Brokers (JKSB) is a leading equity brokerage house in Sri Lanka and is a subsidiary of John Keells Holdings PLC (JKH), the largest listed entity on the Colombo Stock Exchange (CSE). We are one of 15 founding members of the Colombo Stock Exchange and our history in equity trading dates back to 1896. We are widely regarded in the industry for good governance practices with an emphasis on compliance and regulations. Our core sales and research staff have been engaged with the firm for a period of 10 – 25 years. Over the years this has helped JKSB develop strong and lasting relationships with our core client base of Foreign Funds/Individuals, Local Institutions and HNWI’s. This has contributed to our superior offering of order sourcing and placement capabilities. JKSB has ...

Read More →