In July 1921 the Communist Party of China (CPC) took the 1st centenary goal to eradicate poverty in China by 2021. It reached the goal in 2020 & on the eve of its 103rd anniversary members celebrated with a symphony concert at the CPC Museum in Beijing. CPC statistics indicate that the Museum opened in…
Positivity Back to June 2023 Levels – Mood of the Nation Survey by Verité Research. Over three times as many people approve of the government and feel better about the economy and the country’s economic trajectory compared to four months ago, according to the latest round of the Gallup style ‘Mood of the Nation’ poll…
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…
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