06th May 2017
GROUNDVIEWS: Avoiding complacency on GSP Plus: The importance of long term economic reform
This
one discusses the requirement for economic reform. FYI. It ties into
the comparative recovery of the eurozone and how getting the green light
now is better than getting it last year when the EU market was tepid.
ISLAND: BUSINESS: ADB 50th annual conference begins
ADB
theme for this year is "Rise together for a prosperous Asia" - read
this as: Rise together for a prosperous Japan and we would be closer to
the truth. \All this news about the whopping involvement of the IDBs is
in line with the UNP desire to tie to western model donor funds.
Related article: DAILY MIRROR:BUSINESS: Finance Minister meets JBIC CEO
Related article: DAILY MIRROR:BUSINESS: Top World Bank official visits Sri Lanka
Related article: DAILY NEWS:NEWS: ADB provides $31.7 b assistance in 2016
DAILY MIRROR: BUSINESS: SriLankan sell off fails, seeks new partner
Not
sure if this is relevant but TGP has been playing in the SLSEC markets
for a while now. If they pulled out it is a concerning indicator for
trade-economics and money markets for Sri Lanka.
DAILY MIRROR BUSINESS: Sri Lanka raises US $ 1.5bn via international bond issue
Related data: Sri Lanka's external debt from 2014-2017
05th May 2017
SLAND: BUSINESS: Port City to avert excessive presence of Chinese investors
Broad
basing investor spread across the globe is probably a good idea
although I am not too convinced that the port city itself is a good
idea.
ISLAND: BUSINESS: Local workers’ remittances in moderate year on year growth External Sector Performance - January 2017
ISLAND: BUSINESS: Local workers’ remittances in moderate year on year growth External Sector Performance - January 2017
Good
article detailing the CBSL annual report. It details remittances,
export performance, sector performance etc and gives numbers. These can
also be acquired from the CBSL website but this article gives a fairly
concise picture of the financial "state of the nation".
The following segment is important to us: Earnings from agricultural exports grew by 7.9 per cent, year-on-year, to US dollars 194 million in January 2017 reflecting improved performances in all subsectors except minor agricultural products and unmanufactured tobacco. Earnings from spices showed an impressive growth of 33.7 per cent, year-on-year, in January 2017 mainly due to the improved performance in cloves, nutmeg and mace and cinnamon. In addition, earnings from seafood exports increased by 19.7 per cent, year-on-year, in January 2017 especially due to the 107.3 per cent growth in seafood exports to the EU. Earnings from tea exports, which account for 12 per cent of total exports, increased by 2.1 per cent, year-on-year, due to increased average prices which have been on a rising trend since September 2016, despite the decline in volume exported.
The following segment is important to us: Earnings from agricultural exports grew by 7.9 per cent, year-on-year, to US dollars 194 million in January 2017 reflecting improved performances in all subsectors except minor agricultural products and unmanufactured tobacco. Earnings from spices showed an impressive growth of 33.7 per cent, year-on-year, in January 2017 mainly due to the improved performance in cloves, nutmeg and mace and cinnamon. In addition, earnings from seafood exports increased by 19.7 per cent, year-on-year, in January 2017 especially due to the 107.3 per cent growth in seafood exports to the EU. Earnings from tea exports, which account for 12 per cent of total exports, increased by 2.1 per cent, year-on-year, due to increased average prices which have been on a rising trend since September 2016, despite the decline in volume exported.
Related article: DAILY NEWS: NEWS: National Trade Policy needed before FTAs are inked - NCCSL
DAILY MIRROR: BUSINESS: Sri Lanka launches 10-year sovereign bond
DAILY MIRROR: NEWS: Govt. will not sign any investment or trade agreement detrimental to Sri Lanka –President
This is actually the article related to the Siyambalapitiya meeting but it has been cleverly hidden behind the heading.
ARTICLE ALERT: We need to very quickly hit back at moves to try to scupper the renewable energy drive. Take a look at this bullshit statement: Accordingly, proposals to use alternative sources of energy like fossil fuels, natural gas, coal, oil as well as renewable resources such as solar power, wind power, geothermal heat, waves and solid waste and the use of nuclear power for the purpose of power generation, was discussed in detail. - now, what the hell does this mean? Are they calling coal an "alternative" now?
DAILY NEWS:NEWS: Sri Lanka, Czech Republic to expand on trade volumes
Not the biggest of EU markets but important for trade and agriculture - tea and equipment. BOI chairman highly valued the import of agricultural equipment to Sri Lanka from the Czech Republic for the past several years and recalled the country started importing high standard tractors from Czech Republic to Sri Lanka even from the time when he was the Chairman of State Trading Corporation.
LANKADEEPA: NEWS: යුරෝපා සංගමයෙන් කෝටි 700 ක්
කෘෂිකාර්මික අංශය නවීකරණය කිරීම සඳහා රුපියල් බිලියන පහකට ආසන්න මුදලක් (යුරෝ මිලියන 30ක්) සහ මෙරට සංහිඳියා ක්රියාවලිය සවිබල ගැන්වීම සඳහා රුපියල් බිලියන 2කට ආසන්න මුදලක් (යුරෝ මිලියන 12) ලබාදෙන බව යුරෝපා සංගමයේ ශ්රී ලංකා කාර්යාලය නිවේදනයක් නිකුත් කරමින් සඳහන් කළේය.
04th May 2017
DAILY MIRROR: NEWS: Pathfinder Foundation seeks to enhance Indo-Lanka connectivity
Seems like CSOs have also gotten on the band wagon and we might want to keep our eye on these things even if we do not get involved directly because the areas they are interested in are of national strategic importance. The four major sectors covered, included promoting religious tourism aimed at developing people to people relations, multi-modal sea and air links and two-way power grid connection between Sri Lanka and peninsular India, energy security through strategic storage of hydrocarbons for industries and options for coastal shipping in the Bay of Bengal framework.
Related article: DAILY NEWS: NEWS: Pathfinder confab on enhancing Indo-Lanka connectivity
03rd May 2017
SILUMINA NEWS: යූරෝවෙන් රුපියල තර වෙයි භාණ්ඩ 6600කට ජීඑස්පී+ බදු සහන
Related article: යුරෝපයේදි පරාජය වු ශ්රී ලංකා විරෝධය
SILUMINA: NEWS: ආර්ථිකයට හිතකර වොෂින්ටන් සමුළුව
ISLAND: BUSINESS: Sri Lanka aiming to increase foreign reserves to US$ 10 bn by end 2017
Key
issues about this is the effectiveness. Seems a bit like desperation.
The IMFs take on fiscal policy and monetary policy is also an issue
since we must look for a better trade balance in our international
dealings in my opinion.
ISLAND: BUSINESS: SL gains ground on GSP+ at EU vote with 436 votes
The GSP+ issue is important as highlighted earlier. We can use this to sell our products to the EU.
Related article: http://www.dailymirror.lk/article/GSP-EU-Parliament-defeats-anti-SL-resolution-127918.html
Related article: DIVAINA: NEWS: ශ්රී ලංකාවට ජීඑස්පී දීමට එරෙහි යෝජනාව පරදී
26th April 2017
ISLAND: First Colombo session on historic WTO agreement opens today, island, local and International business
This is mostly for our information. However, given the history of financial and economic messes that the WTO has caused and because they are fighting to be relevant in the face of regional trade agreements, these need to be watched closely. Key here is that the thuggery and enforcement of nationally negative trade agreements by the Brettenwoods organizations (WTO, WB, IMF) and their push for globalization is being threatened now.
LANKADEEPA: න - ලංකා වෙළඳ ගිවිසුමෙන් දේශීය කර්මාන්ත අනතුරේ