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Thursday June 20th, 2024

Sri Lanka newspaper circulation falls for second straight year

ECONOMYNEXT – Sri Lanka’s newspaper circulation has fallen for the second straight year in 2018, with diminishing readership across all three languages, central bank data showed.

Annual circiulation of daily national newspapers fell to 368 million in 2018, down from 398.7 million a year earlier, after reaching a historical peak of 411.8 million in 2016.

Weekly newspaper circulation fell to 113.3 million in 2018 after peaking at 136.3 million in 2017.

The central bank had collected circulation data from newspaper publishers and the Mass Media Ministry.

Critics have alleged publishers are overstating circulation data to boost advertisement revenues.

The highest fall was among Sinhala newspapers, with annual circulation of daily publications falling 11.2 percent to 217.6 million and weekly copies falling 20.3 percent to 113.3 million.

Tamil daily newspaper circulation fell marginally by 0.5 percent to 59.96 million and weeklies fell 1.8 percent to 19.1 million copies.

English daily newspaper circulation fell 3 percent to 90.6 million and weekly distribution fell 2.7 percent to 24.7 million copies.

The daily newspaper copies per thousand persons distributed fell to 54 in 2018 from 59 a year earlier, while 101 copies were sold in weekly publications, down from 122.

Newspaper circiulation had grown at an annual rate of 14 percent for seven years up to 2016, after recording the only fall in the past 20 years in 2008.

Sri Lanka has followed a similar trend to India, the world’s largest newspaper consumer, where circulation continued to grow and peaked at 610.2 million per day in 2015/16 (year ending in March), according to the Office of Registrar of Newspapers for India data.

Daily newspaper circulation in India then fell to 488.1 million copies in 2016/17 and 430 million in 2017/18.

Newspaper circulation in many other countries have been falling over the past decades with a higher consumption of online media and cable news.

In Japan, another large newspaper consumer, circulation has fallen from 53 million copies daily (morning and evening editions were counted as one)  in 2004 to 39.9 million copies in 2018, according to the Japan Newspaper Association.

In the US, newspaper readership has been dwindling since 1990 according to the Pew Research Centre, with circulation in 2018 falling to the same levels as 1940.


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Sri Lanka rupee closes stronger at 305.10/30 to US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed stronger ahead of the long weekend at 305.10/30 to the US dollar on Thursday, up from 305.40/55 to the US dollar Wednesday, dealers said, while some bond yields edged up.

A bond maturing on 15.12.2026 closed at 10.45/80 percent, up from 10.35/75 percent.

A bond maturing on 01.07.2028 closed at 11.20/45 percent.

A bond maturing on 15.09.2029 closed at 12.00/15 percent, up from 11.95/12.35 percent.

A bond maturing on 01.12.2031 closed at 12.05/25 percent.

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Sri Lanka stocks close up, JKH trade pushes turnover

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

The broader All Share Index closed up 0.19 percent, or 23.11 points, at 12,249; while the more liquid S&P SL20 Index closed up 0.15 percent, or 5.33 points, at 3,610.

Turnover was 2 billion. Nearly half of this (Rs980mn) came from a crossing on John Keells Holdings Plc. The share closed down at 202.00.

“There were several crossings today which pushed turnover,” market participants said.

“Institutions and high net-worth activity drove the market, while the retail investors we feel are still about uncertain and adopting a wait-and-see approach.”

Melstacorp Plc was among the companies that saw active volumes (Rs194mn) in the day. The share closed up at 87.10.

Top contributors to the index included TeeJay Lanka Plc (up at 41.70), Sampath Bank Plc (up at 79.50), Hatton National Bank Plc (down at 201.00). Hayleys Plc (up at 105.00) and its subsidiary Hayleys Fabric Plc (up at 46.60) were also positive contributors. (Colombo/Jun20/2024)

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Sri Lanka, India launch maritime rescue coordination centre

ECONOMYNEXT – Sri Lanka’s president Ranil Wickremesinghe and visiting Indian External Affairs Minister S Jaishankar marked the formal commissioning of a Maritime Rescue Coordination Centre in the island nation on Thursday.

The MRCC was constructed with a 6 million dollar grant from India.

It includes a centre at Navy headquarters in Colombo, a sub-centre in Hambantota and unmanned installations at Galle, Arugambay, Batticaloa, Trincomalee, Kallarawa, Point Pedro and Mollikulam.

Wickremesinghe and Jaishankar also launched, virtually, 106 houses in Kandy, Nuwara Eliya and Matale under the Indian Housing Project. 24 houses in each model village were handed over.

Jaishankar called on President Ranil Wickremesinghe at the President’s House earlier in the day for a one-on-one meeting, the president’s media division said.

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Indian FM Jaishankar in Sri Lanka to discuss partnerships amid project delays, ahead of polls

Jaishankar’s one-day official visit to Colombo was to discuss “wide-ranging issues of the partnership”, India said, amid delays of some key Indian projects ahead of a presidential poll in Sri Lanka. (Colombo/Jun20/204)

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