Finance

Sri Lanka’s People’s Insurance to provide Covid-19 cover for tourists

Friday January 22, 2021 2:31 pm

ECONOMYNEXT – Sri Lanka’s People’s Insurance will provide a 12 dollar Covid-19 insurance policy for tourists visiting the island under new health guidelines from January 21, the tourism authority said.

The insurance will provide a 50,000 dollar cover for a month. It will be mandatory for tourists to get the cover even if they have alternative medical insurance.

The 12 dollar insurance will cover costs up to 50,000 dollars and also expenses in case the worst happens, tourism officials said.

Sri Lanka is opening borders for tourists from January 21 and is expecting about a million tourists in 2021.

“If a test should result as positive, initial isolation would be accommodated at the hotel; and if necessary, transfers to a private hospital or a designated hotel to be quarantined; would be arranged,” Sri Lanka tourism said.

Each approved ‘safe’ hotel will have an doctor on call, who will visit and make decision whether the guest is asymptomatic and can stay is isolation at the hotel without using common areas, or has symptoms and should be sent to hospital.

Tourists are also expected to have their standard travel medical insurance for other illnesses.

All tourists should have a negative PCR test taken 96 hours before departure. They will be tested on arrival before check in.

The costs to be covered by COVID-19 insurance, already paid for at the time of visa issuance.

(Colombo/Jan19/2021)

Cancel reply

1 Sri Lanka to lease 450 state-owned fuel stations for Chinese, US, Australian firms with Shell JV

2 Sri Lanka to seek competitive bids for state asset sales

3 Sri Lanka's Ceylon Tea prices stabilize after falling on rupee appreciation

4 Sri Lanka's China swap to be extended for three years

5 Sri Lanka's NPP slams IMF, claims board approval was hurried fearing NPP's popularity

Markets

Sri Lanka stocks recover with banking and finance sectors leading the way

Stock Market. Free public domain CC0 image.

Wednesday March 29, 2023 6:46 pm

ECONOMYNEXT – Sri Lanka’s stocks edged up on Wednesday recovering from the two-day loss, with banking and finance sectors pushing up the market as buying interest returned for the day, easing selling pressure, brokers said.

The main All Share Price Index (ASPI) closed up 0.42 percent or 39.03 points to 9,272.43.

The market was on a downward trend since last week as investors are adopting a wait-and-see approach until more clarity is given regarding local debt restructuring after the International Monetary Fund approved the extended loan facility.

“Buying interest has renewed and selling pressures are wearing off,” Ranjan Ranatunga of First Capital Holdings said.

Shares at Lanka IOC was gaining during the following week on the news that the Sri Lanka cabinet has granted approval for three oil companies from China, the United States, and Australia in collaboration with Shell Pl to lease 150 fuel stations for each company to operate in the local market.

However, sudden price revision of fuel by the Energy Ministry has hit the shares dragging it down, analysts said.

A crossing was seen by Horana Plantations, with a 51 percent stake change coming into play, the crossing had generated 700 million rupees from the total turnover, Ranatunga said.

The market saw a net foreign inflow of 32.8 million rupees, and the total offshore inflows recorded so far in 2023 are 3.3 billion rupees.

The most liquid index, S&P SL20, closed 0.64 percent or 16.95 points up at 2,673.25.

The market saw a turnover of 1.4 billion on Wednesday, below this year’s daily average of 1.8 billion rupees.

Top gainers were Sampath Bank, Vallibel One and DFCC Bank.(Colombo/March29/2023)

Bonds & Forex

Rupee closes weaker at 328.50/329.50 against the US dollar, Bond yields steady

Wednesday March 29, 2023 5:58 pm

ECONOMYNEXT – Sri Lanka’s treasury bond yields were down and the rupee closed weaker in the spot market on Wednesday following an undersubscribed treasury bill auction, dealers said.

A 01.07.2025 bond closed at 31.25/30 percent on Tuesday, steady from 31.20/60 percent on Tuesday.

A 15.09.2027 bond closed at 28.25/29.00 percent, unchanged from Tuesday.

A one-year bill closed at 24.00/30 percent, down from 24.25/25.00 percent.

Sri Lanka rupee closed at 328.50/329.50 rupees against the US dollar weakened, from 325/328 rupees from a day earlier. (Colombo/ March29/2023)

Economy

Sri Lanka tuk tuk, bus fares to be cut on lower fuel prices

CROWDED: An overloaded bus in a suburb of Colombo, leaning sideways with passengers clinging to foot boards.

Wednesday March 29, 2023 4:22 pm

ECONOMYNEXT – Sri Lanka’s bus fares will be cut from 12.9 percent from midnight onwards, a public transport regulator said while tuk tuk drivers said they are cutting their free market fares with immediate effect.

“The minimum rate will be cut to 30 rupees from tonight,” Lasantha Alagiyawana acting Transport Minister told reporters Wednesday.

The minimum bus fare was previously 35 rupees.

Three wheeler association President, Lalith Dharamsena said the first kilometer is charged from 100 rupees and 80 rupees for the second kilometer.

The price of Petrol 92 Octane will be slashed by 15 percent or 60 rupees to 340, Petrol 95 Octane 95 will be reduced by 26.5 percent or 135 rupees to 375, Auto Diesel by 19.8 percent or 80 rupees to 325, and kerosene by 3.3 percent or 10 rupees to 295.

Wijesekera said on President Ranil Wickremesinghe’s advice and in line with the price formula agreed with the International Monetary Fund (IMF), the prices will be reduced from midnight today. (Colombo/Mar29/2023)