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Friday July 12th, 2024

South Africa earthquake has no threat of Indian Ocean tsunami : Update II

ECONOMYNEXT – There is no threat of tsunami in Indian Ocean, the Indian Ocean Tsunami Warning and Mitigation System has clarified in a subsequent analysis.

UPDATE II

.. NO TSUNAMI THREAT IN THE INDIAN OCEAN …

This bulletin applies to areas within and bordering the Indian Ocean
and is issued by Tsunami Service Provider INDIA in support of the
UNESCO/IOC Indian Ocean Tsunami Warning and Mitigation System (IOTWMS).

U

ECONOMYNEXT – A 6.5 magnitude earthquake in South Africa could trigger a tsunami in the Indian Ocean, according to a warning disseminated by Tsunami service provider in India.

The full statement is reproduced below:

UBLIC TSUNAMI BULLETIN NUMBER 1
IOTWMS TSUNAMI SERVICE PROVIDER INDIA (ITEWC)
issued at 0523 UTC WEDNESDAY 10 JULY 2024
——————————————————————————–
… EARTHQUAKE BULLETIN …

This bulletin applies to areas within and bordering the Indian Ocean
and is issued by Tsunami Service Provider INDIA in support of the
UNESCO/IOC Indian Ocean Tsunami Warning and Mitigation System (IOTWMS).

1. EARTHQUAKE INFORMATION
IOTWMS-TSP INDIA has detected an earthquake with the following
preliminary information:
Magnitude : 6.5f M
Depth : 10 km
Date : 10 JUL 2024
Origin Time: 0455UTC
Latitude : 53.38 S
Longitude : 25.27 E
Location : SOUTH OF AFRICA

2. EVALUATION

Based on historical data and tsunami modeling, this earthquake may be capable of
generating a tsunami affecting the Indian Ocean region. IOTWMS-TSP INDIA will
monitor the situation to determine if a tsunami was generated and will issue
further bulletins as information becomes available.Further information on this
event will be available at: http://www.incois.gov.in/Incois/tsunami/eqevents.jsp

3. ADVICE

This bulletin is being issued as advice. Only national/state/local
authorities and disaster management officers have the authority to
make decisions regarding the official threat and warning status in
their coastal areas and any action to be taken in response.

For more detailed information, please refer to the tsunami advisory
bulletins issued by the National Tsunami Warning Centres (NTWCs) of
Indian Ocean countries. The tsunami warning status reported by NTWCs
For their countries can be found at:
http://www.incois.gov.in/Incois/tsunami/NTWCFeedbackStatus.jsp

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Sri Lanka appoints new Attorney General

ECONOMYNEXT – Sri Lanka’s President Ranil Wickremesinghe has appointed K A Parinda Ranasinghe PC as Attorney General.

He was appointed in terms of Article 61E (b) of the Constitution of Sri Lanka, the president’s media division said.

The new AG received the appointment from President Wickremesinghe at the Presidential Secretariat on Friday.

He fills the post after the retirement of former Attorney General Sanjay Rajaratnam. (Colombo/Jul12/2024)

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Sri Lanka rupee closes stronger at 301.70/302.00 to US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed stronger at 301.70/302.00 to the US dollar on Friday, from 302.80/303.00 to the US dollar on Thursday, dealers said, while bond yields were up.

A bond maturing on 15.12.2026 closed at 10.90/11.00 percent, up from 10.85/95 percent.

A bond maturing on 15.12.2027 closed at 11.75/80 percent, up from 11.80/88 percent.

A bond maturing on 01.05.2028 closed at 11.90/12.00 percent.

A bond maturing on 15.09.2029 closed at 12.10/30 percent, up from 12.15/25 percent. (Colombo/Jul12/2024)

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Sri Lanka stocks close up, muted activity

ECONOMYNEXT – The Colombo Stock Exchange closed up on Friday, data on its site showed.

The broader All Share Index closed up 0.35 percent, or 41.71 points, at 11,843; while the more liquid S&P SL20 Index closed up 0.56 percent, or 19.20 points, at 3,454.

Turnover was low at 653 million.

“The market picked up a bit from yesterday but it’s still below the psychological 12,000 mark,” Softlogic Stockbrokers said.

“Local retail participation drove the market predominantly.”

John Keells Holdings Plc brought in Rs109mn to the turnover, and the share closed flat at 194.50.

Melstacorp Plc contributed in Rs104mn to the turnover, and the share closed flat at 85.00.

Sentiment around the banking counters was mostly negative. Sampath Bank Plc closed down at 77.00, closed flat at 101.25, and Hatton National Bank Plc closed flat at 195.25.

The top contributors to the ASPI were Commercial Bank of Ceylon Plc (up at 103.50), Bukit Darah Plc (up at 397.00), and Hayleys Plc (up at 101.00).

Foreign participation remained low as well. There was a higher net foreign outflow of 101 million.

“Foreign selling was seen on John Keells Holdings, and banking counters; Hatton National Bank Plc (down at 195.00), Pan Asia Banking Corporation Plc (down at 20.70), and Commercial Bank of Ceylon Plc.

There was selective foreing interest on the diversified financials sector, particularly in companies that had vehicle leasing portfolios. “We think this might be due to the news of the vehicle import ban possibly ending.”

LOLC Holdings Plc closed up at 440.50, People’s Leasing and Finance Plc closed up at 12.20.

Softlogic Holdings Plc which announced the date of its rights issue, closed up at 8.50. (Colombo/Jul12/2024)

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