*JKSB Opening Bell – News Snippets* 🔔 *03.02.2025* *Sri Lanka vehicle import ban lifted for cars, electric vehicles* “Sri Lanka’s President Anura Kumara Dissanayake has issued a gazette notice as Finance Minister lifting an import ban on motor cars, electric cars and hybrid vehicles, effective from February 01, 2025.” https://economynext.com/sri-lanka-vehicle-import-ban-lifted-for-cars-electric-vehicles-202655/ *Sri Lanka 12-month deflation 4.0-pct, prices up 1.7-pct over 28 months* “Sri Lanka’s 12-month consumer prices deflated 4.0 percent in December 2024, with the widely watched Colombo Consumer Price Index rising 0.5 percent, data from the state statistics office showed.” https://economynext.com/sri-lanka-12-month-deflation-4-0-pct-prices-up-1-7-pct-over-28-months-202560/ *US opens doors for Sri Lankan apparel manufacturers to set up operations* “The U.S. Ambassador to Sri Lanka, Julie Chung, states that the U.S. apparel manufacturing sector is projected to generate USD 365 billion in revenue in 2025 and added that Sri Lanka can benefit from reduced shipping times, lower tariffs, and the ability to respond swiftly to market demands by establishing operations in the United States.” https://www.adaderana.lk/news.php?nid=105430 *Sri Lanka’s Teejay sees higher fabric demand from China, Bangladesh shift* “Sri Lanka’s Teejay Lanka which also has plants in India said it was getting more orders from a shift from China and Bangladesh, with profits rising amid stable costs and a change in product mix.” https://economynext.com/sri-lankas-teejay-sees-higher-fabric-demand-from-china-bangladesh-shift-202460/ *Sri Lanka imports surge to crisis time highs in December 2024 after warnings* “Sri Lanka’s imports surged to 1,924 million US dollars in December 2024, up from around 1500 to 1,600 million dollars in previous months amid a steep spike in credit and shortly after warnings not to print money through open market operations, a few weeks earlier.” https://economynext.com/sri-lanka-imports-surge-to-crisis-time-highs-in-december-2024-after-warnings-202773/ *Sri Lanka’s Seylan Bank to raise 15bn through debenture issue* “Subject to the approval of the shareholders, the bank will issue 150,000,000 Tier II listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion with ordinary voting shares, at 100 rupees each, to raise 15 billion rupees.” https://economynext.com/sri-lankas-seylan-bank-to-raise-15bn-through-debenture-issue-202807/ *Money market returns to surplus after two years* “Sri Lanka’s domestic money market liquidity recorded a surplus of Rs. 168.1 billion by the end of December 2024, marking the first positive liquidity balance in two years. The Central Bank attributed this shift primarily to foreign exchange purchases and swap transactions.” https://www.themorning.lk/articles/QUCxKDT3eNQqup9M1bxy *SL ends 2024 with $ 6 b trade deficit* “The country has ended 2024 with a cumulative deficit in the trade account in 2024 of $ 6.07 billion, high in comparison to $ 4.9 billion 2023.” https://www.ft.lk/front-page/SL-ends-2024-with-6-b-trade-deficit/44-772591 *SVAT abolition threatens tea exports* “The Tea Exporters Association (TEA) has raised serious concerns over the proposed abolition of the Suspended VAT (SVAT) system from April 2025, warning that it will severely impact Sri Lanka’s tea exports and the livelihoods of over 480,000 smallholder farmers.” https://www.themorning.lk/articles/rZ6z0rLMQ09S0AUlxlR4