What will Narendra Modi’s India look like? The country’s prime minister-in-waiting — a staunch Hindu nationalist and the Chief Minister of the western state of Gujarat since 2001 — is a deeply polarizing figure and an unproven commodity on the international stage. Analysts predict his arrival in the country’s top office will bring a marked…
The number of billionaires living in the UK has risen to more than 100 for the first time, according to the 2014 Sunday Times Rich List. There are now 104 billionaires based in the UK with a combined wealth of more than £301bn, the list says. That means the UK has more billionaires per head…
The International Monetary Fund (IMF) has upgraded Sri Lanka’s economic growth forecast for 2014 to 7.0 percent in its latest regional outlook for the Asia Pacific region. Its earlier forecast in December was 6.5 percent.
The US is on the brink of losing its status as the world’s largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the world’s leading statistical agencies. The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China would pull…
The government is considering providing more concessions to the import of fully electrically operated vehicles with a view to drastically reducing fuel imports to Sri Lanka, says the Sri Lanka Vehicle Importers’ Association. The Association’s secretary Keerthi Gunawardene told AdaderanaBiz that they have high expectations that this step would be taken following their recent request…
The Employees Provident Fund (EPF) regrets the attempts of certain persons to mislead the general public and its members by erroneous and sometimes mischievous media reports to gain political or other mileage, says the Central Bank of Sri Lanka in a media statement. It states: The Employees’ Provident Fund (EPF) wishes to state that some…
When taken as a percentage of the Gross Domestic Product (GDP) the government’s revenue last year has shown a decrease compared to 2012. While the government revenue has been 13.9 percent of the GDP in 2012, it has decreased to 13.1 percent last year. This has been due to the decrease in revenue of government…
Banks in Sri Lanka reduced their loans provided with gold as security since they faced a huge crisis due to the continued decrease in gold prices in the world market. The main reason for the country’s banking system reducing its loans to the private sector last year is the decrease in providing gold loans, says…
It was reported earlier that the government’s attention has been drawn towards establishing a Monorail service or a train plying on a single rail as a solution to eliminating the traffic congestion in the city of Colombo. Now, the Central Bank of Sri Lanka (CBSL) too has revealed the necessity of such a rail service….
The operational loss incurred by the Sri Lanka Railways Department or CGR last year has hugely increased when compared to 2012. While the CGR had incurred an operational loss of Rs. 5.2 billion in 2013, in 2012 it had recorded a loss of Rs. 3.8 billion only. Though there had been an increase in passengers…
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