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Thursday June 20th, 2024

Sri Lanka Podujana Party wins 2020 general elections in a landslide

WINNING STREAK: Prime Minister Mahinda Rajapaksa on the telephone watching election results coming in.

ECONOMYNEXT – Sri Lanka Podujana Party of President Gotabaya Rajapaksa has won a clear majority in the 2020 parliamentary election out of declared so far in the 225 assembly sweeping most electoral districts in the South of the country.

The campaign headed by Prime Minister Mahinda Rajapaksa sought a two thirds majority to change the constitution.

The SLPP on its own won 145 seats including 17 national list seats. Sri Lanka Freedom Party which contested in the north got one.

The EPDP also won two seats incldluding one national list seat.

Prime Minister Rajapaska in messages acknowledged good wishes from Prime Minister Narendra Modi of India and Maldives President Ibrahim Solih.

The SLPP had won 6.85 million votes or 59.09 percent.

The Samagi Jana Balawegaya, led by Sajith Premadasa had won 2.77 million votes or 23.9 percent of the vote. It won 54 seats including 7 on the national list.

The Northern ITAK party got 10 seat including 1 on the national list.

National People’s Power had won 445,000 votes or 3.84 percent taking 3 seats including one national list seat.

The United National Party of Prime Minister Ranil Wickremesinghe had failed to win any seat in direct electoral results declared including in its former stronghold Colombo in a humiliating defeat. But it got one national list seat.


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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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Sri Lanka, Saudi Arabia to cooperate in promoting direct investment

ECONOMYNEXT – Sri Lanka and the Kingdom of Saudi Arabia will sign a memorandum of understanding for cooperation in promoting direct investment, Cabinet spokesman minister Bandula Gunawardena said.

“Both sides reached an agreement,” during the special meeting of the World Economic Forum held in Riyadh, Saudi Arabia, Gunawardena told reporters on Thursday.

The agreement “aims to attract direct investment to the country and improve the investment environment of both countries through policy and legal reforms, provision of advanced and integrated infrastructure, process redesign, etc.”

Sri Lanka lagged behind regional nations in attracting foreign direct investment, the minister said. “Compared to Singapore which last year attracted FDIs of 140 billion dollars, India 70 billion dollars, Vietnam 28 billion dollars, and Thailand 20 billion dollars, Sri Lanka only attracted 1 billion dollars.”

“We hope for foreign investments in a big way, to solve our balance deficit crisis.” (Colombo/Jun20/2024)

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