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Wednesday February 1st, 2023

Sri Lanka orders quarantine for Royal-Thomian revellers

BIG MESS: Royal Thomian revellers parading around Colombo in 2020.

ECONOMYNEXT: Sri Lanka’s health authorities have ordered revellers at the Royal – Thomian “Big Match” to immediately isolate themselves following reports that at least one person infected with the Coronavirus was making merry among thousands of fans.

President Gotabaya Rajapaksa on Tuesday noted that organisers had disregarded his opposition and went ahead with staging their annual school cricket encounter.

An old boy of S. Thomas’ College tested positive for COVID-19 at the weekend raising fears he may have infected a large number of people who were at the match despite health warnings against large gatherings.

The Director-General of Health, Anil Jasinghe told reporters Wednesday that he was ordering all those at the Turf Club Tent at the cricket encounter to immediately go into isolation and avoid contact with others.

Many took to social media to warn their friends who had been to the Royal-Thomian match not to visit them for two weeks.

“I’m considering avoiding all those who attended the roytho for a period of 14 days. I’ve old parents and I don’t want to risk it. If you went to roytho go on a 14 day quarantine. Am I being paranoid?,” former journalist Chathuri Dissanayake said on Twitter.

“So we closed all the government schools, private schools, international schools, preschools, state and private universities and canceled the England cricket team’s tour. But we let 10,000 people gather at the SSC for 3 days of fun and frolic called the Royal-Thomian. Go figure!,” added another former journalist Niresh Eliatamby.

Former MP, Rajiva Wijesinha said he suggested that the match be played without spectators.

“…the Royal Thomian should have been stopped, not the match which could have been telecast, but the crowded spectator extravaganza,” Wijesinha said. “Surprised no one else had suggested it so was pleased to find the President had, but it seems the elite mafia triumphed.”

With the number of confirmed cases topping 50 by Wednesday, police said they were also banning any organised bus tours and local sporting events to prevent the spread of the virus.

(COLOMBO, March 18, 2020  – Update II)

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Sri Lanka coconut prices ease at auction

ECONOMYNEXT- Sri Lanka’s coconut auction prices fell in the last auction in January 2023, with average prices going down by 4.1 percent at an auction on January 26, data showed.

The average price for 1,000 nuts fell to 80.811.89 from 84,116.85 a week earlier at the weekly auction conducted by Sri Lanka’s Coconut Development Authority.

The highest price was 87,300 rupees for 1,000 nuts down from the previous week’s 90,200 rupees, while the lowest was 72,500 down from 73,000 rupees.

The auction offered 469,564 coconuts and 300,983 nuts were sold. (Colombo/ Feb 01/2023)

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Sri Lanka shares edge up at close

ECONOMYNEXT- Sri Lanka’s shares edged up on Wednesday pushed as investors bought in to beaten down shares following the previous session’s drop, market analyst said.“

At this price level what we are seeing is a lot of confidence from the investors to collect when the prices drop. So, the market is not falling sharply,” a market analyst said.

Market had also seen buying in Expolanka shares on speculation that the parent company of SG Holdings was buying back into the shares.

All Share Price Index (ASPI) edged up by 0.96 percent or 84.96 points to 8,950.01.

The most liquid index S&P SL20 gained 1.27 percent or 35.02 points to 2,799.53.

Banking and Insurance counters had seen interest on the back of positive sentiments from the IMF.

The central bank has said it could cut interest rates in future when the the country sees fall in inflation, which has already started decelerating.

The market saw a turnover of 1.5 billion rupees today,lower than the month’s daily average of 1.8 billion rupees and nearly half of 2022 average turnover of 2.9 billion rupees.

The bourse saw a flow of net foreign inflow of 45 million rupees extending the net offshore buying to 1.9 billion so far this year.

Top gainers of the day were Commercial Bank, Expolanka, and Ceylinco Insurance. (Colombo/Feb01/2023)






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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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