Sri Lanka tourist arrivals up 7-pct in Feb; Chinese visitors plunge

ECONOMYNEXT - Tourist arrivals to Sri Lanka grew 7 percent from a year earlier to 252,033 in February 2019, the state tourism development authority said, amid a steep fall in Chinese visitors.

The top generating markets were India with 13 percent of arrivals, the United Kingdom 12 percent, China 11 percent, and France and Germany 7 percent each.

Indian visitors had fallen 1.9 percent to 21,286, and the UK had grown 8.8 percent to 29,750.

Arrivals from China had plunged 22 percent to 28,039 amid traditional Chinese Lunar New Year holidays.

Visitors from the US rose 61 percent to 9,678, Australian arrivals rose 61 percent to 6,469.

In 2018, Sri Lanka welcomed 2,333,796 tourists.

In the first two months of the year, Sri Lanka recorded 496,272 visitor arrivals, up 4.6 percent from a year earlier.

Sri Lanka vehicle registrations fall in February as demand slows

ECONOMYNEXT – Sri Lankan vehicle registrations fell sharply in February 2019 to 2,347 units from 3,147 units the previous month and significantly down from 5,024 units 12 months ago, brokerage JB Securities said in a report.

“Vehicle registrations slowed in February due to slowing demand and a smaller number of calendar days in the month,” the report said.

Brand new motor car registrations were marginally up to 434 units in February, from 429 units the previous month, but significantly down from 773 units 12 months ago.

Small engine cars accounted for 76.3 percent of the registrations.

“Indian OEMs (original equipment manufacturers) are yet to produce cars with Euro 4 compliant engines and dual airbags,” the report said.

“Thus they are excluded from the market. Financing share was 50.2 percent, in line with the normal monthly average.”

The number of pre-owned motor car registrations fell to 1,913 units in February, from 2,718 units the previous month but significantly down from 4,251 units 12 months ago, JB Securities said.

Small engine cars below 1,000cc accounted for 90.2 percent of volumes.

“Toyota was the segment leader accounting for 890 units (Vitz 740) followed by Suzuki with 799 units (Wagon R 533)” the report said. Financing share was 56.7 percent in line with the normal monthly average.

Sri Lanka shares end near 5-1/2-year low, rupee edges higher

Reuters: ** Sri Lanka’s share index fell on Friday, hovering near a 5-1/2-year low and recording its sixth straight weekly drop, as investors sold risk assets while they awaited the impact of 2019 budget proposals, market sources said. 

** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. The final vote is scheduled for April 5. 

** Prime Minister Ranil Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index fell 0.29 percent to 5,616.24, hovering near its lowest close since Sept. 9, 2013 hit on Wednesday. 

** The benchmark stock index fell 1.85 percent during the week, its sixth straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 1.69 billion rupees ($9.47 million), double of last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 22.6 million rupees worth of shares on Friday, but they have been net sellers of 5.93 billion rupees worth of equities so far this year. 

** The rupee ended firmer at 178.40/55 to a dollar on greenback inflows and weak dollar demand, compared to Thursday’s close of 178.75/85. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The rupee has climbed 2.4 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.4000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares recover from 5-1/2-year low, rupee firms

Reuters: ** Sri Lankan shares recovered from a 5-1/2-year low on Thursday on bargain hunting after four straight sessions of losses, but concerns over economic and political stability kept the gains in check. 

** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. The final vote is scheduled for April 5. 

** Prime Minister Ranil Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index rose 0.46 percent to 5,632.79, pulling back from its lowest close since Sept. 9, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 677.7 million rupees ($3.79 million), less than last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 18.9 million rupees worth of shares on Thursday, taking the year-to-date net foreign outflow to 5.95 billion rupees worth of equities so far this year. 

** The rupee snapped a three-session losing streak, ending at 178.75/85 per dollar in lacklustre trade, compared to Wednesday’s close of 178.80/90. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.2 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.8000 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares fall for 4th straight session, rupee weakens

Reuters: ** Sri Lankan shares fell for a fourth straight session on Wednesday, hovering near 5-1/2-year low, as investors sold blue- chips amid concerns over economic and political stability. 

** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. The final vote is scheduled for April 5. 

** Prime Minister Ranil Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index fell 0.71 percent to 5,606.96, its lowest close since Sept. 9, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 270.2 million rupees ($1.51 million), less than a third of last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 45.6 million rupees worth of shares on Wednesday, but they have been net sellers of 5.93 billion rupees worth of equities so far this year. 

** Shares in conglomerate John Keells Holdings Plc fell 2.5 percent, while Nestle Lanka Plc lost 4.1 percent. The biggest listed lender Commercial Bank of Ceylon Plc fell 3 percent. 

** The rupee, which fell for a third session, closed a tad weaker at 178.80/90 per dollar compared to Tuesday’s close of 178.70/90. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.1 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.6500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez)

Sri Lanka shares fall to more than 5-1/2-year low, rupee falls ahead of budget vote

Reuters: ** Sri Lanka’s shares fell for a third straight session to a more than 5-1/2-year low on Tuesday as investors awaited a budget vote later in the day to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe. 

** Sri Lankan Finance Minister Mangala Samaraweera last week presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. An interim budget vote is scheduled for Tuesday. 

** Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. The final budget vote is scheduled for April 5. 

** The Colombo Stock Exchange index fell 0.59 percent to 5,646.78, its lowest close since Sept. 9, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 390.6 million rupees ($2.19 million), less than half of last year’s daily average of 834 million rupees. 

** Foreign investors sold a net 10.8 million rupees worth of shares on Tuesday, taking the year-to-date net foreign outflow to 5.98 billion rupees worth of equities so far this year. 

** Shares in Nestle Lanka Plc fell 2.9 percent, while Sampath Bank plc lost 3.1 percent lower. 

** The rupee closed a tad weaker at 178.70/90 per dollar compared to Monday’s close of 178.50/65. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.2 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.5500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)

Sri Lanka shares end at 5-1/2-year low, rupee falls ahead of budget vote

Reuters: ** Sri Lankan shares ended at a 5-1/2-year low and the rupee fell on Monday as investors awaited a budget vote on Tuesday to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe. 

** Sri Lankan Finance Minister Mangala Samaraweera last week presented the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large fiscal deficit. An interim budget vote is scheduled for Tuesday. 

** Wickremesinghe-led government’s political stability has been questioned by the opposition since he was reinstated as prime minister after a 51-day political crisis. 

** The Colombo Stock Exchange index slid 0.73 percent to 5,680.30, its lowest close since Sept. 10, 2013. 

** The benchmark stock index had fallen 1.63 percent last week, recording its third straight weekly fall. It declined 2.9 percent in February, its second straight monthly fall. 

** The turnover was 400 million rupees ($2.24 million), less than half of last year’s daily average of 834 million rupees. 

** Foreign investors bought a net 6.1 million rupees worth of shares on Monday, but they have been net sellers of 5.96 billion rupees worth of equities so far this year. 

** Shares in Hatton National Bank Plc fell 4.0 percent while Sri Lanka Telecom Plc lost 5.9 percent, Seylan Bank Plc ended 11.3 percent lower and Sampath Bank plc closed down 2.5. 

** The rupee closed tad weaker at 178.50/65 per dollar compared to Friday’s close of 178.40/60. Inflows from a sale of $2.4 billion sovereign bonds were expected to boost the rupee. 

** The sale is crucial for the island nation to boost investor sentiment, which was dented by rating downgrades by all three rating agencies after the political crisis in October. 

** The rupee has climbed 2.3 percent so far this year as exporters converted dollars and foreign investors purchased government securities amid stabilising investor confidence after the country repaid a $1 billion sovereign bond in mid-January. 

** Worries over heavy debt repayment after the 51-day political crisis that resulted in a series of credit-rating downgrades dented investor sentiment as the country struggled to repay its foreign loans. 

** The rupee dropped 16 percent in 2018, and was one of the worst-performing currencies in Asia due to heavy foreign outflows. 

** Foreign investors bought a net 636.3 million rupees worth of government securities in the week ended March 6, the first net inflow in three weeks, but they have sold a net 2.8 billion rupees so far this year, the central bank’s latest data showed. 

($1 = 178.4500 Sri Lankan rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Shreejay Sinha)