Fitch Ratings-Colombo-17 February 2021: Fitch Ratings views most rated Sri Lankan corporates as less vulnerable than local financial institutions to the sovereign’s financial distress. This is because most rated corporates have a combination of strong business profiles, low leverage, sound liquidity, and limited exposure to government. On the other hand, local financial institutions’ ratings are…
Sri Lanka has a long established history of using fibre cement roofing sheets, namely chrysotile roofing sheets which are otherwise referred to as white asbestos. Being the choice of construction giants across the local industry, chrysotile has maintained a presence of over 60 years in Sri Lanka. The reason for the success of this material…
LONDON (Reuters) – Group of Seven finance ministers are expected on Friday to back a new allocation of the International Monetary Fund’s own currency, or Special Drawing Rights, to help low-income countries hit by the coronavirus pandemic. We explain what SDRs are, how they are used and which countries could benefit the most. WHAT ARE…
The Silk Road Journal – By Mahika Ming The Peoples Republic of China (PRC) issued a white paper on the country’s international development cooperation in January 2021. The paper focused on strengthening PRC’s transnational network titled “China’s International Development Cooperation in the New Era” was released by the State Council Information Office elaborating on the…
Research shows growing confidence among consumers and business leaders that robots handle finance tasks better than people 2020 has changed our relationship with money and people now trust robots more than themselves to manage their finances, according to a new study by Oracle and personal finance expert Farnoosh Torabi. The study of more than 9,000…
The Silk Road Journal – By Mahika Ming The world’s first locomotive prototype using high-temperature superconducting magnetic levitation technology (HTS Maglev) was unveiled in Chengdu city in Sichuan Province. This prototype has been developed and constructed as a joint venture of the Southwest Jiaotong University, China Railway Group and CRRC Corporation. It will be the…
Sentiment in corporate circles reverses course as hope returns to business With the novel coronavirus persisting for nearly a year, economies the world over are looking for some form of relief courtesy of vaccines that aim to help stem the spread of COVID-19, which has reared its head once again – even in nations that…
The government’s inability to contain the spread of the pandemic and the resulting loss of confidence in the capability of their delivery has eroded the high expectations generated after the convincing win by the SLPP at the general election to cement the win at the presidential election. Perceived economic opportunity is very low. Methodology The…
Low rates and higher market liquidity to support growth Factor in ~1.5 bn in FDIs in 2021; driven by greater focus on public-private partnerships, manufacturing sector, and investments into Colombo International Financial City Leading stockbroking firm Asia Securities (Pvt) Ltd., maintained that all signs point to a strong GDP growth trajectory in 2021. The latest…
By Forbes and Walker Tea Brokers Overview 2020 will no doubt go down in history as one of the most challenging years with the Covid-19 pandemic changing the world in many ways. The Sri Lankan tea industry was no exception as its world-famous outcry system of auctioning tea having a 137-year-old history was changed to…
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