Perceived Economic Opportunity Index [PEOI] 2024 Q2: April 01 to June 30, 2024 This is what we said at the end of 2024 Q1: “Hope continues to elude Sri Lankans despite a few downward adjustments in prices due to the strengthening currency. The only bright spot is that the perception of fighting corruption has increased…
By Felix A. Fernando – Chief Executive Officer and Managing Director of Omega Line Ltd and Deputy Chairman Joint Apparel Association Forum (JAAF) In the face of global economic challenges, the apparel industry has struggled to maintain its footing. Yet, within this turbulent landscape, Italy has proven to be a significant export destination in the…
In the rapidly evolving landscape of global economics, a new and potent force is reshaping the contours of national policies and international relations: AI nationalism. This phenomenon is characterised by nations prioritising the development, control, and application of artificial intelligence technologies to secure economic advantages and national security. As AI becomes increasingly integral to economic…
Kalutara was a golden flower in country’s economic fabric brighter than Colombo a century before colonization. Beruwala had the capacity to receive world’s first ‘Blue Navy’ under Admiral Zheng He of China. From there spices, gems & Elephants etc. were exported to global markets. Tunisian traders operating in the island off Beruwala & many facts…
Sri Lanka’s mango industry, deeply woven into the cultural fabric and dietary needs of Sri Lanka, is thriving with a 12.2% production boost and a 5% yield improvement over the past two decades. Yet, the industry is characterised by drastic seasonal price swings. Prices are currently low, and another significant drop is expected between September…
Fitch Ratings: The refinancing risks of Fitch-rated APAC emerging market (EM) non-bank financial institutions (NBFIs) in China, India, Indonesia and Sri Lanka remain modest in aggregate despite higher reliance on short-term debt than other regions and high US dollar interest rates, Fitch Ratings says in a new report. We estimate total debt maturing in 2024…
By Nandana Padma Kumara Introduction Digital banking refers to the provision of financial services through digital platforms, such as online and mobile applications, enabling customers to manage their accounts and conduct transactions without needing to visit a physical branch. While the concept is not new, its definition continually evolves with technological advancements, expanding the capabilities…
Business Sentiment – Index Crosses Century Mark In the midst of the ruckus surrounding a pivotal presidential election, the IMF says that Sri Lanka’s macroeconomic policy reforms are beginning to bear fruit, anticipating agreements with external commercial creditors soon. This statement preceded the recently concluded second review of the International Monetary Fund’s US$ 2.9 billion…
By Jithendra Antonio Sri Lanka is at a critical juncture. Ranked 116th out of 182 countries on the climate vulnerability index, the nation faces escalating threats from climate change, including frequent droughts, floods, and other extreme weather events. These climate-induced disruptions pose significant risks to economic activities, potentially stalling progress and destabilizing key industries. In…
By Prof. Samitha Hettige The European Union elected new members to the EU parliament last week. The French dissolved their parliament & the British are expected to follow. British could see Sri Lanka from within & above. Probably they introduced democratic governance in SL with the hope of preventing future conflicts. However, Sri Lankans kept…
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