20th July 2018
Opening a new chapter to link local exports to global value chains, Prime Minister Ranil Wickremesinghe yesterday launched the National Export Strategy (NES) as the latest Government effort to boost foreign exchange earnings and employment.
For Sri Lanka’s exports to reach ultimate success they have to become the business of all stakeholders, Development Strategies and International Trade Minister Malik Samarawickrama said yesterday, calling on all officials and the private sector to join the National Export Strategy (NES) implementation.
The Ceylon Chamber of Commerce (CCC), in partnership with the Institute for the Development of Commercial Law and Practice (ICLP), yesterday launched the CCC-ICLP Alternative Dispute Resolution (ADR) Centre to promote efficient commercial dispute resolution and by extension attract investment.
Sri Lanka will unveil one of the biggest initiatives in its international trade history when the Department of Commerce launches the World Bank supported Sri Lanka Trade Information Portal (SLTIP) today in Colombo.
'With rubber production on the decline, state plans to acquire 4000 hectares of high yielding arable rubber land for town and village expansion are inadvisable. Such short sighted policies would eventually pose serious threats to overall rubber production, chairman, Colombo Rubber Traders' Association (CRTA) Sunil Poholiyadde said. He was addressing the CRTA AGM recently.
Falling natural rubber production in Sri Lanka might deter new investments in the rubber products manufacturing industry and even prompt existing investors to go where raw material is available, a senior official said.
Sri Lankan has got the help of Indian experts to improve tyre manufacturing processes and develop new products with the aim of enhancing competitiveness to increase global market share.
Sri Lanka Ports Authority (SLPA) in collaboration with the Jaya Container Terminal (JCT), South Asia Gateway Terminals (SAGT) and the Colombo International Container Terminals(CICT) for the first time, has organized the Port of Colombo Awards Night 2018. The ceremony will be held on July 23 at 06.00pm at the Shangri-La Hotel, Colombo. The Chief Guest of the event will be Minister of Ports and Shipping Mahinda Samarasinghe. The event will also be attended by a number of high profile maritime industry leaders in both local and international.
Bankers are scaring away first time customers, which is hurting the entrepreneurial potential of Sri Lanka, the country’s Finance Minister said. “People who are coming into a bank for the first time, our younger generation, is scared to step into a bank. They’re scared of the questions, they’re scared of the demands for collateral, they’re scared of being turned back,” Mangala Samaraweera said.
Sri Lanka will turn a new chapter in its renewable energy sphere tomorrow with the opening of the production facility of JSF Corporation in Katunayake, the country’s first manufacturer of solar panels. The Japanese Sri Lanka Friendship (JSF) Corporation brings an investment of Rs. 5 billion from Japan via the Board of Investment and will serve as a cornerstone of the Government’s program to infuse capacity from solar energy into the national grid from 2020 and beyond.
Reuters: Sri Lankan shares rose yesterday and marked their highest close in nearly three weeks, led by market heavyweight John Keells Holdings, as foreign buying boosted sentiment.
Reuters: The rupee closed steady yesterday in mild trading as dollar demand from importers were offset by greenback selling by exporters, traders said.
The yields in the secondary bond market continued its decreasing trend across the yield curve yesterday on the back of continued local buying interest amidst an increase in activity. The liquid three 2021’s maturities (i.e. 01.03.21, 01.05.21 and 01.08.21), 01.10.22, 15.03.23, 01.08.24 and 15.10.25 were seen dipping to intraday lows of 9.73%, 9.82% each, 10.05%, 10.14%, 10.22% and 10.30%, respectively, against its previous day’s closing levels of 9.75/83, 9.82/88, 9.80/90, 10.10/15, 10.18/22, 10.25/30 and 10.35/42. In addition, the maturities of 01.07.19, 15.09.19, 01.05.20, 15.12.20, 15.10.21, 15.12.21, 15.06.27 and 01.09.28 changed hands at levels of 9.25%, 9.35%, 9.60%, 9.70%, 9.90% to 10.05%, 9.90%, 10.50% and 10.50% to 10.54% as well. Meanwhile, in the secondary bill market, May and June 2019 maturities changed hands within the range of 9.20% to 9.25%.
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