Agriculture

Korean rice transplanting machines to save labour in Sri Lanka

Tuesday December 1, 2015 3:58 pm

ECONOMYNEXT – Korean agriculture experts have trained Sri Lankan farmers in using rice transplanting machines which are expected to help save on use of labour in the island’s agriculture sector.

Trials of Korean rice transplanting machines were done at the rice model farm village in Rajanganaya, Anuradhapura, in north-central Sri Lanka under the direction of Byoung Choon Jang, Director of the Korea Program on International Agriculture (KOPIA).

“Farmers have began using the Korean transplanting machine in the paddy field and it is expected to save labour effectively in practice,” the Korean embassy said in a statement.

The KOPIA project aims to improve productivity and quality of rice in Sri Lanka. It also provides training programmes such as in basic agronomic practices.

New technologies for paddy soil management, proper fertilizer application, and post-harvest management wre demonstrated, which will help Sri Lankan farmers develop their farming system, the embassy said.

The KOPIA Centre was established by the Rural Development Administration (RDA) of the Republic of Korea to cooperate with Sri Lanka on agricultural technology development.

Three Korean rice transplanting machines were donated to the farm village by the KOPIA Centre, the Korean embassy said.
(Colombo/December 01 2015)

Bonds & Forex

Sri Lanka rupee at 331.15/25 to US dollar spot, bond yields steady

Friday October 16, 2026 9:52 am

ECONOMYNEXT – Sri Lanka’s rupee was quoted flat at 331.15/25 to the US dollar in the spot market on Friday, while bond yields were steady, dealers said.

A bond maturing on 15.10.2028 was quoted flat at 10.60/70 percent.

A bond maturing on 15.06.2029 was quoted at 10.95/11.05 percent.

A bond maturing on 15.10.2030 was quoted at 11.41/45 percent, up from 11.40/45 percent.

A bond maturing on 01.12.2031 was quoted at 11.65/73 percent, up from 11.65/70 percent.

A bond maturing on 15.12.2032 was quoted at 11.75/90 percent, up from 11.75/85 percent.

A bond maturing on 15.01.2033 was quoted at 11.85/95 percent, up from 11.95/12.00 percent.

A bond maturing on 15.10.2034 was quoted flat at 12.20/30 percent.

The telegraphic transfer rate for the dollar was 326.70 buying, 335.70 selling; the euro was 363.6850 buying, 377.4658 selling; pound was 432.5942 buying, 446.7026 selling.

On the Colombo Stock Exchange the All Share Price Index was up 0.56 percent, or 111.97 points, at 20,083; while the S&P SL20 was up 0.63 percent, 35.68 points, at 5,734. (Colombo/Oct16/2026)

Economy

Sri Lanka services expands at slower rate in September 2026: PMI

Thursday October 15, 2026 6:14 pm

ECONOMYNEXT – Sri Lanka’s services sector expanded at a slower rate in September 2026, according to a Purchasing Managers Index compiled by the central bank, which registered an index value of 60.5, compared to 65.6 the previous month.

“Business Activity increased in September 2026, reflecting improvements across several sub-sectors, led by financial services, with notable contributions from education and professional services,” CBSL said.

New businesses increased in September 2026, registering 60.9 from August’s 60.0, due to the expansion in the financial services, with positive contributions from the insurance, education, professional, and other personal services sub-sectors.

Employment increased in September, “as firms across several sectors increased recruitment to meet operational needs and support business expansion”.

Backlogs of Work declined in the month, although at a slower rate compared to the previous month.

Broader global economic uncertainties continued to pose downside risks to the outlook, CBSL said. (Colombo/Oct15/2026)

Economy

Sri Lanka manufacturing PMI steady at 53.0 in September, growth continues

Thursday October 15, 2026 6:05 pm

ECONOMYNEXT – Sri Lanka’s manufacturing sector expanded at a steady rate in September 2026, registering a value of 53.0 on a Purchasing Managers Index compiled by the central bank, same as the previous month.

“This indicates that manufacturing activities continued to expand at a similar pace during the month,” CBSL said, noting the outlook remains positive, driven largely by optimism on year-end seasonal demand.

The New Orders sub-index expanded in the month, registering 51.0, attributed to positive developments in both the food and beverages and textiles and wearing apparel manufacturing sectors.

The Production sub-index also registered 51.0, for the same reason.

The Employment sub-index expanded at a slower pace, registering 52.6, from the previous 54.8.

The Stock of Purchases sub-index moderated towards the neutral threshold, “indicating broadly unchanged inventory levels during the month,” CBSL said.

Suppliers’ Delivery Times sub-index remained lengthened in September. (Colombo/Oct15/2026)

Bonds & Forex

Sri Lanka rupee closes at 331.15/25 to US dollar spot, bond yields steady

Thursday October 15, 2026 6:00 pm

ECONOMYNEXT – Sri Lanka’s rupee closed flat at 331.15/25 to the US dollar in the spot market on Thursday, while bond yields closed steady, dealers said.

A bond maturing on 01.08.2030 closed flat at 11.35/40 percent.

A bond maturing on 15.10.2030 closed at 11.40/45 percent, up from 11.37/43 percent.

A bond maturing on 01.02.2031 closed flat at 11.45/50 percent.

A bond maturing on 15.12.2032 closed flat at 11.75/85 percent.

A bond maturing on 15.10.2034 closed at 12.20/30 percent, up from 12.12/20 percent. (Colombo/Oct15/2026)

Bonds & Forex

Sri Lanka’s Sampath Bank to raise Rs10bn in debenture sale

Thursday October 15, 2026 5:47 pm

ECONOMYNEXT – Sri Lanka’s Sampath Bank plans to raise 10 billion rupees through the issuance of Basel III-compliant debentures, it said in a market filing.

Up to 100 million listed, rated, unsecured, subordinated, redeemable 5-year (2026/ 2031) and 7-year (2026/ 2033) instruments will be offered at 100 rupees each.

The proposed instruments will carry a non-viability conversion feature, the company said.

Initially 70 million debentures will be issued, and another 30 million in the event of an oversubscription of the initial issue.

Fitch rates Sri Lanka Sampath Bank’s Rs10bn debenture issue A(lka)

The issue has received CSE approval.

The subscriptions list opens on October 20. (Colombo/Oct15/2026)

Bonds & Forex

Sri Lanka sells extra Rs7.2bn Treasury bills after auction

Thursday October 15, 2026 5:35 pm

ECONOMYNEXT – Sri Lanka has sold 7,206 million rupees of treasury bills offered on tap at average rates of 9.30 percent, 9.44 percent and 9.95 percent, the public debt management office said, bringing the total of bills sold in the week to 73.332 billion rupees.

Total market subscription was 7,206 million rupees.

The debt office sold a 3-month bill at 9.30 percent.

The debt office sold a 6-month bill at 9.44 percent.

The debt office sold a 12-month bill at 9.95 percent.

On Wednesday (14) the debt office raised 66.12 billion rupees of 3, 6 and 12 month bills after offering 90 billion.

The settlement date is October 16. (Colombo/Oct15/2026)