Gradient Alliance News Bulletin – November 2015
The only source for a roundup of key Sri Lankan News.
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Gradient Alliance News Bulletin – November 2015
In Economic news:
• Budget 2016: Ambitious revenue targets with significant health and education spending.
• Sri Lanka improves to 61st in the Prosperity Index.
• Prime minister unveils medium term policy, focuses on knowledge based social market economy.
• Mark Mobius lists key success factors for Sri Lanka.
• Private sector credit growth increases 22.2% YoY in October.
• Despite a booming construction industry, domestic players opportunities limited to housing.
• New Inflation index increases 3.0% YoY in October.
• Rupee ends November at 141.01/145.34 vs. USD (Rupee weaker 1.7% MoM, 8.6% YTD).
• Stock market closes at 6,909.15 in November (-1.9% MoM)
In Business news:
• Tourist arrivals in October up 8.8% YoY to 132,280, as industry experts concern over budget proposals.
• Vehicle regs. up 10.6% YoY in October, tax increases to impact imports.
• Tea crisis continues as Tea Board intervenes buying at Rs.430/kg, significantly above recent auction prices of about Rs.386.
• LMD-Nielsen business sentiment index falls to 158 (-46 pts MoM).
In Consumer news:
• Nielsen consumer confidence index at 89 in October (+2 pts MoM).
• Consumer Affairs Authority establishes new Maximum Retail Prices for six essential consumer items:
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