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Wednesday February 1st, 2023

Singapore Airlines group starts flying with vaccinated crew

ECONOMYNEXT – Singapore Airlines which flies three times a week to Sri Lanka, and its affiliates Scoot and SilkAir has begun to operate with vaccinated crew, the airline said.

Singapore flight SQ956 to Jakarta, Scoot’s TR6060 to Bangkok and SilkAir MI608 to Phnom Penh were the first flights to use vaccinated crew, the airline said.

“The Singapore government has prioritised the aviation sector in the country’s vaccination exercise. This reflects the sector’s importance, as well as the SIA Group’s crucial role in Singapore’s economic recovery and the fight against Covid-19,” the airline said in a statement.

More than 90 percent of the crew had signed up for the vaccination program.

“We are very encouraged by the strong take-up rate for the vaccine from our colleagues,” Goh ChoonPhong, Chief Executive Officer, Singapore Airlines, said,

“Vaccinations will be key to the reopening of borders and to enhancing travel confidence, in tandem with robust testing regimes and the wide-ranging safe management measures that are in place on the ground and in the air.

“They offer greater protection for our people and provide an added layer of assurance to our customers.”

Singapore Airlines operates three flights a week to Colombo with flights on every Monday, Wednesday and Saturday. (Colombo/Feb12/2021)

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Sri Lanka bond yields down at close

ECONOMYNEXT – Sri Lanka’s bond yields were down at close following a bond auction on Wednesday, dealers said while a guidance peg for interbank transactions remained unchanged.

“The rates were steady at the auction,” a dealer said.

“This can be a signal to the market saying the rates will go down in the future.”

A bond maturing on 01.07.2025 closed at 32.40/60 percent, down from yesterday’s 32.60/85 percent.

A bond maturing on 01.05.2027 closed at 29.10/35 marginally down from yesterday’s 29.20/75 percent.

The Central Bank’s guidance peg for interbank US dollar transactions remained unchanged at 362.14 rupees against the US dollar.

Commercial banks offered dollars for telegraphic transfers at 371.38 rupees on Friday, data showed. (Colombo/Feb 01/2022)

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Sri Lanka bill auction hits pothole after 2025 bond spike

ECONOMYNEXT – Sri Lanka sold only 45 billion rupees in Treasury bills at Wednesday’s auction after offering 120 billion rupees, data from the state debt office showed, amid market confusion over a spike in a two year bond at an earlier action.

30.1 billion rupees of 3-month bills were sold at 29.91 percent, unchanged from a week earlier after offering 60 billion rupees for auction.

5.1 billion rupees of 6-month bills were sold at 28.72 percent, flat after offering 30 billion.

10.3 billion rupees of 12-month bills were sold at 27.72 percent after offering 30 billion.

Phase II subscriptions have been opened.

The market was foxed after the 2025 bonds were accepted at sharply higher yield than market on January 30, dealer said.

There was further confusion as the there was an outright purchase of 2025 at around 29 percent earlier in January.

Some investors speculated that the authorities were trying to drive more buyers towards short end bonds as bill volumes were getting larger. (Colombo/Feb01/2023)

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Sri Lanka services exports down 5.9-pct in 2022

ECONOMYNEXT – Sri Lanka’s services exports were estimated to have fallen 5.9 percent to 1,876.3 million US dollars, the island’s Export Development Board said.

Services exports estimated is made up of ICT/BPM, construction, financial services, transport and logistics.

There are more than 500 ICT companies, the EDB said.

Sri Lanka’s merchandise exports were up 4.6 percent to US dollars 13.1 billion dollars in 2022 from 2021.

Sri Lanka’s goods exports are slowing amid lower growth in Western markets. (Colombo/ Feb 01/2023)

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