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HEADLINES - 14th September 2018


Sri Lanka Economic Summit 2018 Day 1 in the news:


Fast-tracking Sri Lanka’s growth – DailyFT

The length and breadth of Sri Lanka’s economy, including macroeconomic challenges, a strained global environment, crucial structural reforms, attracting foreign investments, and increasing productivity, were discussed in-depth by top experts yesterday.     

No change in policy direction: Eran – DailyFT

Sri Lanka taking pre-emptive steps as global liquidity tightens – EconomyNext

Sri Lanka ‘Port City’ marine engineering work over by mid-2019 – EconomyNext

Sri Lanka has to improve budgets, keep flexible exchange rate: IMF rep – EconomyNext

Sri Lanka's CB independent; will intervene in forex markets if needed: Eran – EconomyNext

Balancing China and India partnerships and diversifying exports key for Sri Lanka – LBO

Use technologies already have before aiming for Blockchain: CDO of MAS Holdings – LBO

Budget deficit is trending down - state finance minister – The Island

On The Fast Track to a Turnaround – Daily News

From buyer driven to producer driven networks - Dr De Silva – Daily News

Build resilient rural economy – Hegde – Daily News

IT industry to focus on data - science, AI – Daily News

Trade wars will have implications on Lanka – Sahay – Daily News

Economic policy vital to attracting Port City Investment India noted as potential investor – Ceylon Today

Be wary of easy Chinese money - Indian KPMG head – Ceylon Today


Ranil at ASEAN – Ceylon Today

Prime Minister Ranil Wickremesinghe addressed the World Economic Forum of the Association of South-east Asian Nations (ASEAN) in Hanoi and said that since a new economic landscape within the next decade was being created targeting Asia, the ASEAN organization and other giants of the Asian economy have a responsibility towards it, taking into account the geopolitical considerations.


China welcomes PM’s statement on Chinese on ‘debt trap’ – Daily Mirror

A Chinese foreign ministry’s spokesperson Thursday welcomed Sri Lankan Prime Minister Ranil Wickremesinghe statement that his country did not fall into the debt trap because of the loan from China, nor did the country transfer control of the important port to China, the Associated Press of Pakistan (APP) reported.


South Korea ready to share business, IT know-how with SL – Daily News

South Korea is ready to share its know-how on industrial, business and Information Technology since it has made great strides in these fields today, South Korean Foreign Minister Kang Kyung Wha said yesterday. She made this observation during a meeting with Prime Minister Ranil Wickremesinghe at the Mariot Hotel in Hanoi on the sidelines of the World Economic Forum held at the National Convention Centre in Vietnam.


SLRA joins IRD to promote TVRS implementation – Ceylon Today

Sri Lanka Retailers’ Association (SLRA) member company representatives recently participated in an awareness programme conducted by the officials of the RAMIS Project Office of the Inland Revenue Department (IRD) to educate and promote implementation of the Tourist VAT Refund Scheme (TVRS) at the at the Bandaranaike International Airport (BIA), a press release stated. TVRS will be launched initially as a pilot project by IRD on a manual system and will be graduated to a fully-automated RAMIS system operated by IRD, connecting online with authorized retailers in the future.


'e-Land Registry' to expand islandwide – Ceylon Today

Sri Lanka plans to expand its new digital land registry island-wide with the aim of speeding up property registration and making the island more attractive for investors, the Government announced.


Apparel exports up 4% Jan-July Falls for second month this year in July – Ceylon Today

Apparel exports from Sri Lanka declined for the second month this year in July, as the industry only managed to ship US$ 442 million worth of goods, down 1.12 per cent compared to US$ 447 million a year ago.


Tea volumes drop to 18-month low – DailyFT

Tea auction volumes continued to decline due to adverse weather conditions in the tea-growing regions, tea brokers said yesterday, with the lowest volume on offer since March 2017.


BOI holds discussions with S’pore business and legal delegation – Ceylon Today

The Board of Investment of Sri Lanka (BOI) hosted a delegation of 25 members from the Singapore Business Federation and Law Society of Singapore, a press release stated. The delegation consisted of entrepreneurs and senior lawyers led by Law Society of Singapore President, Gregory Wijeyendran.


Hambantota Port signs historic TSA with K-Line – DailyFT

The Hambantota International Port Group (HIPG) has entered into its very first Terminal Service Agreement (TSA) with K-Line Ltd. (KLPL), one of the world’s largest Ro Ro operators and a member of the global giant in transportation, Kawasaki Kisen Kaisha Ltd. of Japan.   


Public transport services should improve: President – DailyFT

Long discussions were held in order to monitor the progress of the Sahasara Niyamu Project introduced in 2016 in order to introduce a quality transportation service to the country and find out how to drive the project forward in order to deliver a better service in the future. President Sisirsena directed the officers’ attention towards ensuring the public used public transportation instead of alternative transportation methods by improving the country’s public transportation; reducing traffic congestion in the country thorough that to ensure the security of the public and making public transportation a mechanism which was friendly to the public.


Economic sentiment remains muted: Survey – DailyFT

Sentiment surrounding the economy remained gloomy in August with the latest LMD-Nielsen Business Confidence Index (BCI) survey revealing that almost half of the businesspeople consulted expect the economic milieu to worsen in the next 12 months. 


Sri Lanka injects more rupees amid currency pressure – EconomyNext

Sri Lanka has injected 10.5 billion rupees of newly minted money for two weeks at a weighted average yield of 8.00 percent through a term reverse repo auction, 50 basis points below the ceiling policy rate despite currency pressure.


Phase III of T. Bond auction system unlocked for the first time – DailyFT

The mandatory phase III (Three) of the new Treasury bond auction system was accessed for the first time at its auctions held yesterday, since its introduction in July 2017.


Shares end flat, heavy trading on Dunamis Capital - DailyFT

Reuters: Shares closed flat near a two-week closing low on Thursday in heavy trading led by Dunamis Capital Plc which nearly doubled in value, even as foreign investors continued to trim their equity exposure for a second straight day.


Rupee touches record low – DailyFT

Reuters: The rupee hit a fresh low against the dollar on Thursday but sources said the market expects the currency to recover, tracking gains in other emerging market currencies.


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