Business

Consumer confidence drop to a new low in April: IHP

Published

4 years ago

2022/05/15

The Institute for Health Policy’s Index of Consumer Sentiment fell three points to five in April, with all indices down since March.

The IHP released on Thursday the April 2022 update of its Consumer Confidence Indices, which are being trialled as part of its Sri Lanka Opinion Tracker Survey (SLOTS).

IHP’s Index of Consumer Sentiment (ICS), a measure of how the public views their personal economic situation and the wider national economy, fell a further three points in April to five, closer to its floor of zero and reaching its lowest level since IHP began tracking it.

The current declining trend started in mid-February with the start of power cuts and increasing impact of foreign exchange shortages, plateaued from mid-March, before consumer sentiment started to decline again from early April around the time of the resignation of the Cabinet. All three consumer sentiment indices fell in April.

The Index of Current Conditions (ICC), a broad measure of perceptions about current conditions, fell three points to seven. The Index of Consumer Expectations (ICE), a measure of perceptions about the future, fell a further four points to reach four.

Consumer pessimism is now universal, across all segments. Until February, consumer confidence was higher in the youth (ages 18–29 years) than older adults, largely because the youth continued to be significantly less pessimistic about the future (tracked by the ICE which looks at future expectations), but this future optimism of the youth has now collapsed, with consumer sentiment similar across all age groups.

Public resigned to likelihood that situation will get worse in coming months and years Dr. Ravi Rannan-Eliya, lead investigator for the survey, commented that the public appears resigned to the likelihood that economic conditions will worsen.

All three forward looking measures (household situation in next 12 months, country situation in next 12 months and in five years) are now below 10, and worse than the measures tracking current and recent conditions.

With the measure tracking public views of the country’s situation in five years at a new low of three, he added that more than 95% of Sri Lankans think the country’s economy will be in worse condition in five years than now.

Adapting standard questions used globally to track consumer sentiment, SLOTS has been tracking consumer sentiment daily since September 2021. Three separate indices are currently tracked on a weekly and daily basis, covering views about current conditions, expectations about future conditions, and views about buying major household items. Data are obtained from phone interviews of a national sample of respondents, with the results adjusted to ensure they are representative of the Sri Lankan population in all provinces and at all income levels.

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Business

SL to launch first Dedicated Sustainable Tourism Association in South Asia

Published

1 hour ago

2026/05/9

Thilina Walpola

Tourism personnel at the press briefing

‘Sri Lanka embarks on a journey towards a more sustainable and prosperous tourism industry.’

The Executive Committee of the Sustainable Tourism Association of Sri Lanka (SusTour) announced the above at its final meeting held on May 6, at Connaisance head office, Colombo. The committee finalised all preparations for the official launch in August of the first private sector led, non-governmental Sustainable Tourism Association in South Asia, as most tourism associations in Asia operate as dedicated Eco Tourism entities while this is probably the first in Asia.

This momentous event will be officiated by Prof. Ruwan Ranasinghe, the Deputy Minister of Tourism, who has agreed to inaugurate the Association in conjunction with a media launch.

Prof. Ranasinghe is not only a qualified academic specializing in sustainable tourism but also a passionate advocate for the development of sustainable tourism practices in Sri Lanka. His involvement is pivotal, as he has expressed his commitment to provide unwavering support to the Sustainable Tourism Association of Sri Lanka.

In addition to Prof. Ranasinghe’s support, Buddhika Hewawasam, chairman, SLTDA and Dheera Hettiarchchi, chairman, Sri Lanka Institute of Tourism and Hospitality Management, have also pledged their cooperation in the implementation of sustainable tourism initiatives through their respective state organisations. Their combined expertise and resources are expected to play a crucial role in shaping the future of tourism in Sri Lanka, ensuring that it aligns with sustainable development goals.

This inauguration marks a significant step towards fostering a sustainable tourism framework in Sri Lanka, one that prioritizes environmental preservation, cultural heritage and economic viability. The Sustainable Tourism Association of Sri Lanka is poised to lead the charge in promoting responsible tourism practices, ensuring that the industry flourishes while respecting the rich natural and cultural resources of the island.

Speaking at an exclusive press interview the Tourism Deputy Minister noted; “I am thrilled to see the private sector actively participating in the promotion of sustainable development, particularly within the tourism industry. This partnership is not just beneficial but essential, as it represents a viable mission that requires the joint engagement of both government and private entities. By working together, we can ensure that our tourism practices not only enhance economic growth but also preserve our natural resources and cultural heritage for future generations. It is through this collaborative approach that we can create lasting change and fulfill our commitment to sustainability.”

Adding to this collaborative effort, Australian High Commissioner Matthew Duckworth said Australia would continue its long-term support for sustainable tourism development in Sri Lanka. Australia has contributed more than 50 million Australian dollars over the past decade to sustainable tourism initiatives in Sri Lanka, including to support more sustainable planning, accreditation and skills development for this crucial sector. The High Commissioner confirmed that this support would continue into the future and highlighted Australia’s partnership with the Market Development Facility (MDF), which had recently launched a new initiative using data analytics to help Sri Lankan policy makers better understand how travelers discover and engage with destinations.

“Our vision is to create a platform where all stakeholders including product manufacturers can collaborate and share best practices in sustainable tourism, said Chandra Wickramasinghe, elected founder president of the Association. “We aim to ensure that tourism in Sri Lanka not only provides economic benefits but also contributes positively to the environment and local communities, he added.

The founders of STASL-SusTour believe that sustainable tourism is the ‘Future of World Tourism’ and is crucial for the long-term viability of Sri Lanka’s tourism sector, which is a significant contributor to the nation’s economy. By fostering responsible travel practices, the association seeks to educate stakeholders, including tourists and businesses along with manufacturers about the importance of sustainability.

‘ The association plans to launch various initiatives, including workshops, awareness campaigns and partnerships with local and international organizations focused on sustainable tourism, said Nalin Malwenna, newly elected secretary. Through these efforts, SusTour hopes to position Sri Lanka as a leading destination for eco-conscious travelers looking for authentic and responsible travel experiences.

“The establishment of the Sustainable Tourism Association of Sri Lanka arrives at a pivotal moment, signaling a commitment to a more sustainable future in the nation’s tourism landscape, said elected treasurer Dr. Samantha Pathirathne.

By Claude Gunasekera

Business

Siyapatha Finance unveils 62nd branch in dynamic Horana City

Published

2 hours ago

2026/05/9

Thilina Walpola

Premier finance company Siyapatha Finance PLC recently unveiled its newest branch in Horana, successfully expanding its islandwide branch network to 62 branches. Located in one of the fastest-emerging economic hotspots in the Kalutara District, the Horana branch offers Siyapatha Finance’s wide range of holistic financial services including leasing, fixed deposits, gold financing, business loans,fast draft, factoring, and Smart Pay – the Company’s bill payment facility.

The branch was declared open by Siyapatha Finance PLC Directors- Jayanath Gunawardena and Ms. Sriyani Ranathunga , Chief Executive Officer (CEO) Mathisha Hewavitharana in the presence of Chief Operating Officer (COO) Rajeev De Silva, Ms. Dinuli Gihansi Perera -student of Govinna Maha Vidyalaya , Horana who has been selected to represent Sri Lanka for Asian Boxing Championship 2026 , Senior Management, staff members as well as Police HQI Ranga Perera , Grama Niladhari Mr. Chaminda Kumara, representatives of the government and private banks and insurance companies and well-wishers.

Speaking at the ceremony, Siyapatha Finance PLC CEO Mathisha Hewavitharana remarked: “Horana is a region that has captured massive interest nationally in terms of commercial and social development in recent years. Expanding our branch network to this area gives us a significant opportunity to broaden our reach and serve a larger, diverse ;;customer base’’.

Business

Lingering M-E tensions negatively impact rupee and usher in a degree of volatility

Published

2 hours ago

2026/05/9

Thilina Walpola

The CSE witnessed some market volatility yesterday because of West Asian tensions, which impacted the Sri Lankan rupee negatively in tandem with oil price fluctuations. Amid those developments both indices indicated some bullishness. The All Share Price Index went up by 88.15 points, while the S and P SL20 rose by the 33.35 points. Turnover stood at Rs 4.09 billion with 10 crossings.

Those crossings were: Sarvodaya Developments Finance, which crossed 4.3 million shares to the tune of Rs 182 million; its shares traded at Rs 41.40, CCS 1.25 million shares crossed to the tune of 156 million; its shares sold at Rs 125.50, Commercial Bank 620,000 shares crossed for Rs 130 million; its shares traded at Rs 210, LOLC Holdings 125,000 shares crossed for Rs 71.9 million; its shares traded at Rs 575, Colombo Dockyard 500,000 shares crossed for Rs 67.50 million; its shares sold at Rs 135, LMF 450,000 shares crossed for Rs 43.2 million; its shares traded at Rs 90 and CIC 1.2 million shares crossed for Rs 41 million; its shares traded at Rs 34.30.

In the retail market companies that mainly contributed to the turnover were; Colombo Dockyard Rs 506 million (3.7 million shares traded), Commercial Bank Rs 207 million (985,930 shares traded) ,Lanka Realty Rs 103 million (1.9 million shares traded), Haycarb Rs 93.3 million (662,000 shares traded), Bairaha Farm Rs 87.5 million (923,000 shares traded) Industrial Asphalts Rs 69 million (99 million shares traded) and Royal Ceramics Rs 67 million (1.4 million shares traded). During the day 273.7 million share changed hands in 31185 transactions.

It is said that the banking and financial sector performed well; especially Sarvodaya and Commercial Bank, while the manufacturing sector, especially Haycarb, performed well. Further in the FMCG sector, Bairaha Farm performed well at the floor.

Yesterday the rupee was quoted at Rs 321.80/90 to the US dollar in the spot market, weaker from Rs 321.70/85 the previous day, dealers said, while bond yields were steady.

A bond maturing on 01.07.2028 was quoted flat at 9.65/70 percent.

A bond maturing on 15.10.2028 was quoted at 9.70/80 percent, down from 9.75/80 percent.

A bond maturing on 15.06.2029 was quoted at 9.80/90 percent.

A bond maturing on 15.09.2029 was quoted flat at 9.85/95 percent.

A bond maturing on 15.12.2029 was quoted at 9.95/10.00 percent, up from 9.90/10.00 percent.

A bond maturing on 01.07.2030 was quoted flat at 10.10/20 percent.

A bond maturing on 01.03.2030 was quoted flat at 10.10/20 percent.

A bond maturing on 01.06.2033 was quoted at 10.90/11.00 percent, down from 10.95/11.05 percent.

A bond maturing on 15.06.2034 was quoted at 11.15/20 percent, down from 11.15/22 percent

By Hiran H Senewiratne