Colombo stocks didn’t react on Monday to Sri Lanka’s cabinet reshuffle which saw the induction of a new finance minister, data and traders said.
As at 12 noon, the all share price index was down 12.54 points or 0.19 per cent to 6,717.12 while the S&P SL 20 index was down 25.60 points or 0.67 per cent to 3,819.08. Ravi Karunanayake (Finance Minister) and Mangala Samaraweera (Foreign Minister) swapped positions as nine new cabinet ministers were appointed on Monday,
“The market is reacting more to global fund flows to frontier markets, and in some cases, attractive valuations of select stocks, rather than local political developments,” one trader said adding: “Most ministers are perceived as ineffective - reshuffling the same pack of people is unlikely to deliver materially better results.” – Ends
Tamar Amitai, a 25-year-old Israeli tourist who went missing in Uppuveli, Trincomalee, was found safe after a three-day joint search operation today.
The Colombo High Court today (28) sentenced former parliamentarian Hirunika Premachandra to three years of Rigorous Imprisonment over charges of the involvement of an abduction.
President Ranil Wickremesinghe is firm about the President’s five-year tenure, the President’s Media Division (PMD) said.
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