This document summarizes economic news from Sri Lanka and around the world from the 291st issue of the Economic Capsule published in April 2021. In Sri Lanka, the Commercial Bank won several awards for sustainability and CSR efforts. The IMF revised Sri Lanka's 2021 growth forecast to 4%. Sri Lanka's unemployment rate declined to 5.2% in 4Q 2020. Globally, China's GDP grew 18.3% in Q1 2021, and China is expected to be a major driver of global economic growth in the post-pandemic years. Citigroup will exit consumer banking in 13 markets.
E-commerce Readiness Assessment Report Sri Lanka 2020EDB
This E-commerce Readiness Assessment Report is the result of a request by the Sri Lanka Export Development Board (EDB) for technical assistance from the Commonwealth Secretariat to conduct an e-readiness assessment for Sri Lanka and undertake capacity-building programmes for enhancing women and small and medium enterprise (SME) cross-border e-commerce knowledge. Based on international best practices, a five-parameter model for assessment and monitoring of e-commerce readiness in Sri Lanka was developed. This covers the five key result areas of e-commerce: citizen maturity; business readiness; IT infrastructure and accessibility; logistics and delivery; and policy and regulations. Using this model, indicators were developed to assess Sri Lanka’s maturity or readiness levels within these parameters and a score was assigned based on the findings of the study.
E-commerce Readiness Assessment Report Sri Lanka 2020EDB
This E-commerce Readiness Assessment Report is the result of a request by the Sri Lanka Export Development Board (EDB) for technical assistance from the Commonwealth Secretariat to conduct an e-readiness assessment for Sri Lanka and undertake capacity-building programmes for enhancing women and small and medium enterprise (SME) cross-border e-commerce knowledge. Based on international best practices, a five-parameter model for assessment and monitoring of e-commerce readiness in Sri Lanka was developed. This covers the five key result areas of e-commerce: citizen maturity; business readiness; IT infrastructure and accessibility; logistics and delivery; and policy and regulations. Using this model, indicators were developed to assess Sri Lanka’s maturity or readiness levels within these parameters and a score was assigned based on the findings of the study.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
2. C O N T E N T S
BANKING & FINANCE
ComBank wins 4 at Best Corporate Citizen Sustainability Awards
Double win for ComBank from Asiamoney magazine
ComBank becomes Sri Lanka’s first carbon-neutral bank
ECONOMY & BUSINESS
IMF revises SL’s 2021 economic growth forecast to 4%
Sri Lanka welcomes over 9,500 tourists in 1Q
Sri Lanka’s unemployment rate down to 5.2% 4Q-2020
Sri Lanka’s Manufacturing PMI - Mar 2021
Sri Lanka’s Services PMI – Mar 2021
20 land plots to come into market to drive up demand
External sector performance- Jan to Feb 2021 (USD Mn)
Economic News Snippets
INTERNATIONAL
China’s Q1 GDP grows at record pace as recovery speeds up
China’s Growth Set to Drive World Economy in Post-Pandemic Years
Citigroup to exit consumer banking in 13 markets
Reluctant Emerging Asia Could Delay Rate Hikes Until 2022
Renewables could displace fossil fuels to power the world by 2050, report claims
India reports more than 2,500 COVID-19 deaths in single day
4. Research & Development Unit
ComBank wins 4 at Best Corporate Citizen
Sustainability Awards
The Commercial Bank of Ceylon’s commitment to
the betterment of the environment, society, and the
economy was recognized when the Bank was
presented four awards including the award for the
second runner-up overall at the Best Corporate
Citizen Sustainability Awards presented by the
Ceylon Chamber of Commerce.
The Bank won the Sector Award for Best
Performance in the Financial Sector, the category
award for Best Performance in Governance, and was
presented an award for being among the Top 10 Best
Corporate Citizens in Sri Lanka, in addition to its
second runner-up award.
5. Research & Development Unit
Double win for ComBank from Asiamoney
magazine
The Commercial Bank of Ceylon has won the awards of ‘Best Bank for Small and
Medium Enterprises’ and ‘Best Bank for Corporate Social Responsibility’ for the second
year in a row from Asiamoney Magazine, the top-ranking publication and authority on
banking and capital markets in Asia.
The award for ‘Best Bank for SMEs’ recognizes Commercial Bank’s efforts in identifying
the importance of small and medium enterprises to the economy of the country and
the products and services put in place to empower this segment, while the ‘Best Bank
for Corporate Social Responsibility’ award is a tribute to the Bank’s nationally-
significant contributions via its CSR Trust, to the spheres of education, healthcare,
environment and community development.
6. Research & Development Unit
ComBank becomes Sri Lanka’s first carbon-neutral
bank
The Commercial Bank of Ceylon has become the first Sri
Lankan bank to achieve carbon neutrality for the
entirety of its operations, encompassing all 268
branches and its head office – a monumental milestone
in the Bank’s commitment to the environment.
Becoming a net-zero carbon company was one of
Commercial Bank’s Green Goals, to be achieved by the
close of its centenary year in 2020.
The Bank’s carbon neutral status has been affirmed by Climate Smart Initiatives (Pvt) Ltd., which executed the
quantification of the Bank’s carbon footprint in accordance with the ISO 14064‐1‐2018 standard. A total of 13
emission sources covering both direct and indirect emission sources of the Bank were considered for this analysis.
Additionally, the Sri Lanka Climate Fund operating under the Ministry of Environment performed an independent
third-party verification in accordance with the ISO 14064-3-2018 guidelines and awarded the prestigious ISO
14064 certificate to the Bank.
8. Research & Development Unit
IMF revises SL’s 2021 economic growth
forecast to 4%
• The International Monetary Fund (IMF) in its latest World Economic Outlook
report has slashed Sri Lanka’s economic growth rate forecast for this year to 4%
from 5.3% it forecasted in October, 2020.
• The revision is similar to that of the forecast of the Asian Development Bank
(ADB), which expects Sri Lanka to grow by 4.1% this year.
• However, the Central Bank of Sri Lanka (CBSL) has a more optimistic economic
growth prediction, expecting the country to grow by 6% in 2021.
• In 2020, due to the impacts stemming from COVID-19 pandemic, the economy
recorded a negative growth rate of 3.6%.
9. Sri Lanka welcomes over 9,500 tourists in 1Q
Research & Development Unit
• Sri Lanka is witnessing a slow yet steady
increase in the number of international
visitors entering the country, as the month
of March welcomed 4,581 tourists,
bringing the total number of arrivals for
the first quarter to 9,629.
• While the arrivals increased by 36% from
February, a decline of 93.6% is witnessed
when compared with the number of
visitors who entered the country during
the corresponding month of the previous
year.
10. Sri Lanka’s unemployment rate down to 5.2%
4Q-2020
Research & Development Unit
• Sri Lanka’s unemployment fell to 5.2%
in the fourth quarter of 2020 from an
11 year high of 5.8% in the third
quarter as the country recovered from
a steep downturn from Coronavirus
lockdowns.
• The total employed population was
8.03 mn in the fourth quarter of 2020,
still down from 8.18 mn in 2019 with
the total unemployed at 441,997, data
from the state statistics office said.
11. Sri Lanka’s Manufacturing PMI - Mar 2021
Research & Development Unit
Indicating a strong revival in manufacturing activities in the country, the
manufacturing PMI reached a 9-month high at 67.0 in March 2021. This
was largely attributable to the increases observed in Production, New
Orders, and Stock of Purchases sub-indices.
The significant increases in New Orders and Production subindices, particularly in the manufacture of food & beverages and textile
& wearing apparel sectors, have mainly contributed to the improvement in the overall index.
Many respondents in the manufacture of food & beverages sector highlighted that they experienced higher levels of sales and
production during March 2021 ahead of the New Year festival season.
Further, respondents from the textile & wearing apparel sector mentioned that they increased production during the month to
cover-up seasonal holidays. Meanwhile, the Stock of Purchases sub-index increased in line with the expansion in New Orders and
Production. Employment sub-index also expanded at a higher rate.
12. Sri Lanka’s Services PMI – Mar 2021
Research & Development Unit
Services PMI rose to 62.1 in March 2021, indicating an expansion of the
services sector for the fourth straight month. This increase was
underpinned by the expansions observed in new businesses, business
activities, employment and expectations for activity
The Index
PMI is calculated as a ‘Diffusion Index’, where it takes values between 0 and 100.
PMI = 50 - sector remained neutral on month-on-month basis
PMI > 50 - sector is generally expanding on month-on-month basis
PMI < 50 - sector is generally declining on month-on-month basis
13. 20 land plots to come into market to drive up
demand
Research & Development Unit
• With the Colombo Port City Commission
Bill reaching the final stages of the
legislation process, the project company of
Colombo Port City (CPC) eyes to release
20 land plots located adjacent to Colombo
Business District (CBD) as pilot
development projects, to drive investor
demand attracting over USD 5bn within
next five years.
• In a five-year strategic plot roll out, CHEC Port City plans to release a land bank of 60
hectares, which would require a minimum USD 5bn investment requirement for
development activities, covering different real estate segments.
14. Research & Development Unit
External sector performance- Jan to Feb 2021
(USD Mn)
Source: CBSL
Category Jan-Feb 2020 Jan –Feb 2021 Growth %
Merchandise Imports 3,297.7 3,115.2 -5.5
•Consumer Goods 699.0 618.3 -11.5
•Intermediate Goods 1,846.0 1,846.0 0.8
•Investment Goods 747.0 633.8 -15.2
•Unclassified 5.7 2.3 59.5
Merchandise Exports 1,993.4 1,888.4 -5.3
•Industrial Exports 1,602.7 1,472.6 8.1
•Agricultural exports 383.8 406.5 5.9
•Mineral exports 3.9 7.1 84.0
•Unclassified 3.0 2.2 -26.7
Trade Balance -1,304 -1,227 5.9
Tourism 586 7 -98.8
Worker’s Remittance 1,108 1,255 13.2
Gross FDI 232 148 -56.8
• The increase in exports to the pre-pandemic levels,
the notable increase in workers’ remittances and the
relative stability in the domestic foreign exchange
market supported Sri Lanka’s external sector in
February 2021.
• The trade deficit in February 2021 broadly remained
unchanged at the level reported a year ago. In the
financial account, both foreign investment in the
government securities market and the Colombo
Stock Exchange (CSE) recorded net outflows in
February 2021.
• The SAARCFINANCE swap facility of USD 400mn
obtained from the Reserve Bank of India in July 2020
was repaid in February 2021 upon maturity.
• Net inflows to the domestic foreign exchange market
eased the pressure on the exchange rate during the
month and the regulatory measures enabled the
Central Bank to absorb foreign exchange on a net
basis, to build up gross official reserves.
15. Research & Development Unit
Manufacturing sector reports highest non-
performing loans in 2020
While the overall asset quality in the banking sector
improved sharply, despite the worst predictions and
pandemic-related headwinds, the loans to the manufacturing
sector reported the highest non-performing loans (NPLs)
compared to the other key sectors of the economy.
According to the preliminary data coming from the licensed
commercial banks on their asset quality— identified based
on various economic sectors to where they channeled
loans—the manufacturing sector came on top, with an 8.7%
non-performing loans ratio, indicating nearly 9.0% of loans
into the sector were in arrears for 90 days or more by end-
2020.
The licensed commercial banking sector overall reported a
gross non-performing loans ratio of 4.7% by end-2020, a tad
weaker from 4.6% a year ago but much improved from 5.3%
when the problem reached a peak in June 2020, the quarter
which was mostly damaged by the pandemic.
Source: Daily Mirror
Economic News Snippets
ICRA Lanka expects strong private credit
growth in March
ICRA Lanka Limited said private sector credit is likely to
have expanded at similar pace or faster in March, after
a spurt in private credit in February, which defied its
earlier expectations.
Releasing its latest regular publication on the economy,
the rating agency turned upbeat about the prospects of
the economy as seen from the recent high-frequency
data, showing continued expansion in domestic
economic activity.
However, it cautioned of the signs of rising inflation and
the external position of the country as potential
caveats.
17. China’s Q1 GDP grows at record pace as
recovery speeds up
Research & Development Unit
• China's economic recovery
quickened sharply in the first
quarter to record growth of
18.3% from last year's deep
coronavirus slump, propelled
by stronger demand at home
and abroad and continued
government support for
smaller firms.
Source: Reuters/CNBC
• But the brisk expansion, heavily skewed by the plunge in activity a year earlier, is expected to
moderate later this year as the government turns its attention to reining in financial risks in
overheating parts of the economy.
18. China’s growth set to drive world economy in
post-pandemic years
Source: Bloomberg
Research & Development Unit
• China will drive global economic
growth in the coming years as the
world recovers from an pandemic,
the International Monetary Fund
predicts.
• China will contribute more than one-
fifth of the total increase in the
world’s gross domestic product in the
five years through 2026, according to
Bloomberg calculations based on IMF
forecasts published.
• Global GDP is expected to rise by more than USD 28tn to USD 122tn over that period, after falling USD 2.8tn
last year in the biggest peacetime shock to output since the Great Depression.
• The U.S. and India will be the second and third-biggest contributors to global growth in the period, according
to the IMF, with Japan and Germany rounding out the top five.
19. Research & Development Unit
Citigroup to exit consumer banking in 13
markets
• Citigroup is closing its consumer banking operations
in 13 markets across Asia, Europe and the Middle
East.
• The US banking group will instead run these
operations from four hubs in Singapore, Hong Kong,
the United Arab Emirates and London.
• It will continue to offer products to larger clients and
institutions in these markets.
• Its chief executive Jane Fraser said it "does not have
the scale" to compete in these 13 markets.
• Citigroup will shut down consumer banking
operations in Australia, Bahrain, China, India,
Indonesia, South Korea, Malaysia, The Philippines,
Poland, Russia, Taiwan, Thailand and Vietnam.
Source: BBC
20. Research & Development Unit
Reluctant Emerging Asia Could Delay Rate Hikes
Until 2022
• Emerging Asia’s central banks are expected to
opt for supporting their economic recoveries
rather than tackling volatile price swings this
year.
• All eight emerging Asian economies, including
India and Indonesia, are seen holding
benchmark interest rates steady through 2021,
according to the forecasts from Bloomberg
surveys of economists.
• “To support economic recoveries, Asian central banks are expected to maintain their
accommodative stance and avoid hinting at future rate hikes,” said Duncan Tan, rates strategist at
DBS Banking Group Ltd.
Source: Bloomberg
21. Research & Development Unit
Re-newables could displace fossil fuels to power
the world by 2050, report claims
• Solar and wind energy could replace fossil
fuels entirely to become the world’s
power source by 2050, a new report has
claimed.
• The report from think tank Carbon Tracker
also predicted that if wind and solar
power continued on their current growth
trajectory, they would push fossil fuels out
of the electricity sector by the mid-2030s.
Source: CNBC
22. Research & Development Unit
India reports more than 2,500 COVID-19 deaths in
single day
• India reported more than 2,500 deaths from
COVID-19 on 25th April , the highest single-day
tally for the country so far, health ministry data
showed.
• Coronavirus infections also rose by a record,
increasing by 354,531. Total deaths reached
195,116.
• India's overall case tally is now at 17.3 million,
second only to the United States, which has over
32.8 million infections. (As of 25th April 2020)
23. The views expressed in Economic Capsule are not necessarily those of the Management of Commercial Bank of Ceylon PLC
The information contained in this presentation has been drawn from sources that we believe to be reliable. However, while we have taken reasonable care to maintain accuracy/completeness of the information,
it should be noted that Commercial Bank of Ceylon PLC and/or its employees should not be held responsible, for providing the information or for losses or damages, financial or otherwise, suffered in consequence
of using such information for whatever purpose.
< Research & Development Unit >