Business and Economics
EPF’s listed equity portfolio down by Rs.39 Bn end of 1Q 2020

The country’s largest retirement fund, the Employees’ Provident Fund (EPF), which is under the custodianship of the Central Bank, posted a market loss of approximately Rs.39.08 billion, at the end of first-quarter 2020.

So far, the EPF has invested Rs.84.05 billion in 83 listed equities. As at the end of first-quarter 2020, its market value has reduced to Rs.44.97 billion. Accordingly, the EPF has lost a staggering Rs.39.08 billion by investing in the stock market.

The Employees’ Provident Fund has just made a new investment in Teejay Lanka PLC, in the first quarter of 2020. As at the end of 2019, EPF has invested in 384,849 shares of Teejay Lanka PLC and this has increased to 6,979,333 shares by 31 March 2020.

As per the Employees’ Provident Fund Act. No. 15 of 1958, the Monetary Board of the Central Bank of Sri Lanka is entrusted with the custodianship of the Fund while the Commissioner of Labour is entrusted with the general administration of the Fund.
Barista opens Dine-In Café at Southern Highway service stopover

With a rapid expansion plan underway Barista recently opened its 8th outlet at the southern highway service point in Welipenna. The outlet is an elegant, modern and cozy one where you can sit, relax, charge your phone and sip a perfectly brewed cup of Cappuccino while enjoying an array of freshly baked cakes, croissants, muffins and sandwiches. The Barista outlet is the only outlet in the Southern Highway Service area in which you can dine-in when you are heading for those long weekends towards the South. It is also a welcome addition for local and international tourists to have a familiar place to dine at. Adhering with regulations set forth by the health authorities the outlet practices social distancing while sanitization methods are available for all customers who enter. Staff also go through stringent sanitization processes before handling and preparing food and serving customers.

Read More
Sri Lanka Treasury Bill yields fall across maturities

Sri Lanka Treasury Bill yields fell to a record low at Wednesday's (22) auction.

Accordingly, the three-month yield was down to 4.60% from 4.65%, the six-month yield was down to 4.69% from 4.75% and the 12-month yield was down to 4.86% from 4.91%.

The debt office of the Central bank decided to accept Rs. 6,401 million from the auction of three-month yield, Rs.11,385 million from the auction of six-month yield and  Rs. 17,314 million from the auction of 12-month yield.

The auction was oversubscribed with bids amounting to Rs. 64,261 million being received. The Central Bank of Sri Lanka decided to accept Rs. 35,100 million from the auction.

In the last week auction, the Sri Lanka Treasury Bill yields fell across the board to their lowest levels since 1989. Treasury Bill rates fell below 5%.

Read More