Devalued rupee widens trade deficit to US$ 6m
Foreign remittances from expatriate workers will
further plummet this year due to the aggravating Middle East crisis
fuelled by violence by the Islamic State, said economic analysts who
predicted a bleak year for emerging economies with the anticipated
slow down in economic growth in developed countries.
Fall in oil prices, a boon to consumers, bane to investors
While a fall in global oil prices to
unprecedented levels last year was a blessing in disguise to
consumers it dealt a severe blow to energy sector investors who
incurred heavy losses on shares. The Wall Street ended its final day
of 2015 down, marking its worst annual performance in seven years.
ETCA to boost economic ties :
Sri Lanka-India bilateral trade almost $ 5 b
Bilateral trade between India and Sri Lanka is
close to $5 billion at present. The Indo-Sri Lanka Economic and
Technology Corporation Agreement (ETCA) is expected to give a major
boost to economic ties. The government is pursuing a 'social market
economy' giving priority to competitiveness and social justice in
trading and business, Deputy Minister for Foreign Affairs," Harsha
de Silva told Sunday Observer Business.