The All Share Index surged 430 points nearly 7.8% over the week to close at 5926.9
- A week of strong gains on the bourses, the All Share Index surged 430 points nearly 7.8% over the week to close at 5926.9. The Indices posted its 5th weekly gain in a row. The Milanka index gained 494 points nearly 9.7% to close at 5588.19.
Vehicle importers consider potential in Myanmar
- SL’s vehicle market plummeted again with the revision of taxes.
- Vehicle importers plan to enter the used car business in Myanmar to take advantage of their tax benefits and other facilities given for importers.
Sri Lanka’s ruling party sweeps local polls
- Sri Lanka’s ruling party secured victory in three provincial council elections including one area ravaged by the island’s ethnic war that ended in 2009.
- Tourist arrivals for August was recorded at 79,456 up +9.7% YoY.
Sri Lanka might miss the budget deficit target
- Budget deficit has shot up to 39.6% YoY during H1 2012, with expenditure growth outpacing the revenue growth.
SL’s petroleum product pricing and quality to be regulated
- Petroleum products are expected to be brought under Public Utilities Commission (PUC) of SL from the beginning of 2013. Legislations are now being drawn up.