US-China trade deal a mixed success for Trump

(Washington) AFP: President Donald Trump is set to sign a trade deal with China on Wednesday that he will trumpet as a major victory, but it comes at a steep cost after a two-year standoff between the world’s two top economic powers.

Indonesia, UAE sign US $ 23bn investment deals

(Jakarta) AFP: Indonesia and the United Arab Emirates have struck nearly US $ 23 billion in business deals, including agreements in the energy sector and on infrastructure projects, the Southeast Asian nation said yesterday.

Sri Lanka to receive 20mn euros to upgrade health service

Sri Lanka is set to receive 20 million euros in funding from the Global Fund for 2020-2022, to upgrade the country’s health service.

Bodaragama appointed as new Excise Commissioner General

Advisor to Finance, Economy and Policy Development Ministry A. Bodaragama has been appointed as Commissioner General of Excise.

Global stock markets mostly up as focus on China-US pact

Growing need for privacy and data protection in Sri Lanka

Every day, a vast amount of information is transmitted, stored, and collected across the globe, enabled by the rise of computing and communication power.

And pollution was made to go up in smoke!

Some people and certain places take us back in time. They draw out things lodged so long in the back shelves of memory that we’ve almost forgotten they exist. Nalin Dharshana. Nedalagamuwa. A person and a place. In their ‘togetherness’ one can read economy, history, agriculture, entrepreneurship and much more.

Too far, too fast?

After a stellar 2019, investors are naturally asking themselves whether the strong performance can continue in 2020 or not. Trying to answer this is difficult as different perspectives provide different answers.

‘Born in Sri Lanka’: Country-of-origin mark supports Sri Lankan brands in global market

The Sri Lankan Export Development Board’s country-of-origin certification mark for the spices sector supports growers, processors and manufacturers by helping them to identify their products as Sri Lankan Born and informs customers and consumers that all significant parts, produce, processing and products are of genuine Sri Lankan origin.

Foreigners return to bond market; records first inflow for new year

The rupee bond market recorded a positive start to the New Year as foreigners bought Rs.1.5 billion or US$ 8.32 million worth government bonds during the week ended January 9, but the stock market witnessed an outflow of foreign funds worth Rs.19 million, latest data showed.

World Bank fails to foresee SL’s growth beyond 3.3% this year

Issuing by far the worst economic outlook for Sri Lanka this year, the World Bank last week said the country could entangle in a toxic mix of elevated fiscal deficit and debt, and the economy would struggle to break the 4.0 percent growth mark during next three years.

Central Bank to set up credit guarantee scheme for banks

The Central Bank (CB) will setup a credit guarantee scheme to protect the banking sector when granting working capital loans to small and medium-sized enterprises (SMEs) in non-performing loan (NPL) category under the forthcoming SME relief package.

Govt. says Enterprise Sri Lanka politically motivated

The new government has charged that loan disbursements under now suspended ‘Enterprise Sri Lanka’ loan programme that offered concessionary interest rates, was politically motivated and said is subject to a full review.

SriLankan clarifies on water matter; to discontinue serving pre-cupped water

Clarifying news reports on the purchase of drinking water for its passengers, the State-run airline said no local supplier offered to supply pre-cupped water when the bids were called for the supply of such items.

Firms in China remain wary despite US trade deal

BEIJING (AFP) - Washington and Beijing may be ready to sign a preliminary trade agreement, but companies in China are not taking any chances, forging ahead with contingency plans in case the tariff war resumes.

Jack Ma, Grab eye opportunities in Singapore digital bank battle

SINGAPORE (AFP) - Singapore is opening up its banking industry to digital lenders in a reform that could shake up the sector across Southeast Asia, with Chinese billionaire Jack Ma and ride-hailer Grab among those seeking licences. Traditional banks are being challenged by a new generation of online-only competitors that can offer better savings and borrowing rates, as they don’t need to spend money on overheads such as physical branches. The int

Management by Walking Around

Management By Walking Around (MBWA) has received prominence due to the leadership of the country President Gotabaya Rajapaksa making surprise visits to some of the important government departments to observe the workings and efficiency of the public service and to see how the public are being served.

Humans and AI co-existing as colleagues

Artificial intelligence (AI) has taken over the way we live, work and do business. Specifically in the Asia Pacific region, businesses are adopting advanced AI faster than their counterparts in the rest of the world.

Lakshmi Niwas Mittal: Steel magnate who came from obscurity to opulence

Lakshmi Niwas Mittal (born June 15, 1950) is an Indian-born steel magnate, based in the United Kingdom. He is Chairman and CEO of ArcelorMittal, the world’s largest steelmaking company. Mittal owns 38 percent of ArcelorMittal and holds an 11 percent stake in Queens Park Rangers F.C.

Poultry industry charges import ban only helps maize mafia, not farmers

The government’s decision to ban the importation of maize has met with resistance from the local poultry industry stakeholders as they asserted the move would only help feed the “maize mafia” that over the years has capitalised on the lack of timely availability of the crop, to manipulate the prices.

ICRA Lanka sanguine on SL’s economic prospects this year

While the changes in the political front and the fiscal and monetary stimulus could revive the tepid Sri Lankan economy from its depths, its sustenance largely hinges on the political will to make tougher choices by way of prudent policies and implementing structural reforms, ICRA Lanka opined.

Stocks slump over 2%; ASPI ends below 6,000 mark

The indices at the Colombo Stock Exchange (CSE) recorded a sharp decline yesterday amid the unsettled global politics, though the local stock market analysts termed it “bit of an overreaction”.

SriLankan reroutes flights to avoid Iran and Iraq airspace

Due to the prevailing unsettled situation in the Persian Gulf region, SriLankan Airlines has altered the route of its Colombo-London-Colombo flights to avoid the airspace of Iran and Iraq with immediate effect, as a precautionary measure.

Plunging US imports push trade deficit to 3-year low in November

(Washington) AFP: America’s trade deficit continued to tumble in November, hitting its lowest level in three years as imports of crude oil, computers and industrial supplies fell off sharply, the government reported Tuesday.

Ho QUYNH Huong singer and Loving Vegan group receiving the world record certificate

In the song “One’s lifetime, one forest”, the composer Tran Long An wrote “Everyone chose easy jobs, who would do the difficult one? Therefore, does that mean the difficulties in our life do not result from our choices?! It isn’t difficult to understand, because most people in our world hope to have a carefree, especially wealthy and esteemed life. Moreover, when one is at the top of his fame, praises, admiration, how many people could refuse…

CNN Business Traveller to air Sri Lanka documentary today

CNN’s foremost international business correspondent and presenter Richard Quest will feature Sri Lanka in the newest edition of CNN Business Traveller from today.

Sri Lanka likely to target US$ 2bn FDI this year

Sri Lanka’s Board of Investment (BOI) is likely set US$2 billion foreign direct investment (FDI) target for 2020, as the estimated FDI inflows have fallen to around US$ 1.2 billion last year, well below the initial US$ 3 billion target, amid Easter Sunday attacks and political uncertainty.

Lankatiles targets US export market with mosaic tile manufacturing venture

Lankatiles is targeting the North American market with its latest venture to manufacture mosaic tiles with the technical know-how from Chinese mosaic tile manufacturer, Foshan Shiwan Yulong Ceramic Co. Ltd.

National Budget Dept. gets new DG

Sri Lanka Administrative Service (SLAS) Class 1 officer Jude Nilukshan has been appointed the Director General of National Budget Department of the National Treasury by the Cabinet of Ministers.

SLT Chairman Kumarasinghe Sirisena resigns

Sri Lanka Telecom PLC Chairman P.G. Kumarasinghe Sirisena has resigned from the post with effect from January 06.