BRS morning shout

1 – November - 2022

Economic News Links

Noting that a big public sector did not help Sri Lanka to grow fast, President Ranil Wickre- https://www.ft.lk/front-page/
mesinghe on Sunday hinted that the Government was looking at raising $ 3-4 billion via President-eyes-3-4-b-via-sale-of-
sale of certain State-Owned Enterprises (SOEs) to boost foreign reserves. SOEs-says-big-State-sector-did-
not-help-SL-to-grow-fast/44-
741523
The Colombo Port is continuing to face rough weather with September marking the sixth https://www.ft.lk/front-page/
consecutive month of negative growth trajectory. In April when the first year on year decline Negative-box-growth-persists-at-
was reported it was dismissed as not alarming. However Colombo Port appears to have not Colombo-Port/44-741520
recovered since.
Noting that the Budget for 2023 will be presented to Parliament on 14 November, the State https://www.ft.lk/front-page/
Minister of Finance said the total expenditure of the Government for the year 2023 has been Budget-2023-is-most-testing-since
estimated as Rs. 7,885 billion, an increase of Rs. 1,785 billion from the total expense of Rs. -Independence-State-Minister-of-
6,100 billion that was allocated in 2022. Finance/44-741519
The government has announced an across-the-board increase in company registration fees, https://www.dailymirror.lk/
including renewal fees, after six years, with effect from October 5 of this year. breaking_news/Govt-announces-
across-the-board-increase-in-
company-registration-fees/108-
247782
Sri Lanka will give loans up to 10 million rupees to small and micro enterprises in agricul- https://economynext.com/sri-lanka
ture, tourism or exports, hit by an ongoing economic crisis using an Asian Development -to-give-cut-price-loans-to-small-
Bank Credit line, the Finance Ministry said. and-micro-firms-hit-by-crisis-
101548/

Business news
Nestle Lanka PLC, the local operation of the world’s largest food and beverage company, https://www.dailymirror.lk/business
saw its profits surging for the quarter ended on September 30, 2022 (3Q22), amid a sharp -news/Nestle-Lanka-doubles-
growth in top line, as a result of price increases. profits-in-3Q-amid-surge-in-top-
line/273-247783
Hayleys Advantis, the transportation and logistics arm of the Hayleys Group, is set to estab- https://www.dailymirror.lk/
lish a network of cycle repair stations across Colombo. business/Hayleys-Advantis-to-set-
up-network-of-cycle-repair-
stations-across-Colombo/215-
247706

Political news
Speaker Mahinda Yapa Abeywardena yesterday endorsed the certificate on the 22nd https://www.ft.lk/news/21st-
Amendment to the Constitution Bill passed by a special majority in Parliament recently. Amendment-to-the-Constitution-
takes-effect/56-741513

International news
Asian shares rose and bond yields firmed in early trade on Tuesday despite mild losses from https://www.reuters.com/markets/
Wall Street overnight as investors turned their focus to the Federal Reserve's policy meeting europe/global-markets-wrapup-1-
this week for hints on what comes next. 2022-11-01/
Oil prices inched lower on Tuesday, extending losses of 1% from the previous session as https://www.reuters.com/markets/
more extensive COVID-19 curbs in China increased fears of slowing fuel demand in the commodities/oil-prices-edge-
world's second-largest oil consumer. lower-china-covid-19-woes-
dampen-demand-2022-11-01/
India's gold consumption in the months of October to December could fall by around a https://www.reuters.com/markets/
quarter from a year ago as inflation depresses rural demand, the World Gold Council (WGC) commodities/indias-gold-demand-
said on Tuesday. dips-inflation-hits-rural-buyers-
2022-11-01/
65, Braybrooke Place, Colombo 2, Sri Lanka
research@bartleetreligare.com, +94 11 5220200 1
BRS morning shout
1 - November - 2022

Market Indices Forex market

Bid-Ask
Current Previous Year open Day's % YTD % Buying Selling Year open YTD %
Spread
ASPI 8,602.16 8,728.60 12,226.01 -1.45% -29.64% USD 360.65 371.21 203.00 -2.84% 82.9%
S&P SL 20 2,590.61 2,642.44 4,233.25 -1.96% -38.80% EUR 356.35 371.44 233.03 -4.06% 59.4%
GBP 415.92 432.35 275.09 -3.80% 57.2%
JPY 2.42 2.52 1.78 -4.09% 41.6%

Commodity Prices Market Rates

Current Previous Year open Day's % YTD % Current Week ago Year open Yearly %

Gold (USD/Ounce) 1,641.00 1,664.90 1,818.50 -1.4% -9.8% 182 day T bill 32.53 32.53 8.33 290.5%
Copper (USD/Pound) 3.43 3.41 4.39 0.5% -21.9% 364 day T bill 29.60 29.60 8.24 259.2%
Aluminium (USD/MT) 2,211.50 2,287.50 2,829.50 -3.3% -21.8% AWPR 27.46 29.51 8.61 218.9%
Crude Oil (USD/Barrel) 95.24 95.22 76.64 0.0% 24.3% AWLR 17.58 16.86 9.79 79.6%
Cotton (US ȼ/Pound) 72.86 72.56 113.43 0.4% -35.8% AWDR 12.60 11.63 4.94 155.1%
Sugar (US ȼ/Pound) 17.98 17.63 18.79 2.0% -4.3% AWFDR 16.66 15.41 5.94 180.5%
Palm Oil (USD/MT) 856.63 843.70 1,121.41 1.5% -23.6%

CBSL holdings in govt securities (LKR bn)

Current Previous Year open YTD %

Market liquidity - Surplus/(Deficit) (LKR bn) -344.06 -344.22 -366.25 -6.1%

CBSL holdings in govt securities (LKR bn) 2,420.59 2,420.59 1,416.75 70.9%

65, Braybrooke Place, Colombo 2, Sri Lanka

research@bartleetreligare.com, +94 11 5220200 2