Investment decline in productive assets spells trouble for poorer nations
Although developing countries attracted a record share of global foreign direct investment in 2020, finance for infrastructure and productive sectors fell significantly, weakening their COVID-19 recovery prospects. Foreign direct investment…
Bezos to give Amazon reins to cloud boss Jassy as sales rocket past $100 billion
(Reuters) Amazon.com Inc founder Jeff Bezos will step down as CEO and become executive chairman, naming the head of its lucrative cloud computing division as successor in a sign of…
Sri Lanka halts port deal with India and Japan
Sri Lanka on Tuesday scrapped a deal to develop a major port terminal with India and Japan amid weeks-long protests by trade unions and opposition parties while India called on…
IFS growth outperforms market in 2020 with 26% increase in software revenue
IFS, the global enterprise applications company has seen a 26% Year-on-Year increase in software revenue, according to its financial results for the full year ended December 31, 2020. 2020 saw widespread…
USPTO announces relief for delays in filing certified copies of foreign priority applications due to the COVID-19 outbreak
The United States Patent and Trademark Office (USPTO) recognizes that the COVID-19 outbreak has imposed significant hardships on many of our stakeholders. In particular, some foreign intellectual property (IP) offices…
Rupee to depreciate by 12% in 2021- First Capital
Sri Lanka’s First Capital Research expects LKR to depreciate approximately by 12 percent during this year. “With the weak foreign currency reserve position, high foreign currency debt repayment and a…
Nutrition crisis looms with over 39 billion in-school meals missed since start of pandemic – UNICEF and WFP
Over 39 billion in-school meals have been missed globally since the start of the COVID-19 pandemic due to school closures, according to a new report released today by the UNICEF…
Wall Street gears up for second bout against Reddit traders
(Reuters) – Wall Street is gearing up for another week of market mayhem, with signs that the retail frenzy that pumped up the stock prices of the likes of GameStop…
The World’s Best Stock Rally Is in Sri Lanka – Bloomberg
Sri Lanka stocks have returned a world-beating 30% so far in 2021 as domestic investors get more active, Bloomberg reported yesterday. Local traders have bought a gross Rs 155 billion…
Sri Lanka – Korea Business Councill urges Tourism Authorities to target high spending South Korean Tourists
Sri Lanka – Korea Business Council (SLKBC) urges the Tourism Promotion Bureau to target South Korea’s outbound tourism market to attract high-spending tourists to the country. “The Per Capita income…