The document provides an economic update from Sri Lanka in its 278th issue of the Economic Capsule. It discusses several topics:
1) The Commercial Bank Group reported over Rs. 150 billion in revenue for the first time in 2019, though profits declined due to higher impairment charges and debt levy expenses.
2) Commercial Bank won an award for 'Decade of Excellence in Retail Banking' and its Maldives subsidiary won an award for 'Excellence in Finance'.
3) Sri Lanka's trade deficit decreased in 2019 as exports grew slightly while imports contracted, with declines in fuel, vehicles, and gold.
4) New measures aim to fast-track foreign direct investments,
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@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
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.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
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.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@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.
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.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
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.
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
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
2. C O N T E N T S
BANKING & FINANCE
ComBank Group revenue passes milestone Rs 150 bn in ‘difficult’ 2019
ComBank wins ‘Decade of Excellence’ award for Retail Banking from top UK magazine
ComBank Maldives honoured for Excellence in Finance at Maldives Business Awards
ECONOMY & BUSINESS
External Sector : Jan-Dec 2019
Govt. rolls out new measures to fast-track FDIs
Port City’s first overseas launch in Singapore this July
Ceylon Graphene Technologies creates new vistas for local graphene industry
Luxury brands, Ritz Carlton and JW Marriott to open hotels
INTERNATIONAL
India is now the world’s 5th largest economy
Australia, South Korea, Brazil are the major economies most exposed to China trade
Corona Impact
4. Research & Development Unit
ComBank Group revenue passes
milestone Rs 150 bn in ‘difficult’ 2019
• The Commercial Bank Group ended 2019 with the performance milestone of gross income surpassing Rs 150bn
for the first time, but substantially higher impairment charges and the impact of a full year of Debt Repayment
Levy (DRL) in a year the Bank describes as “difficult for the Bank and the country,” saw declines in profit
indicators.
• Comprising of Commercial Bank of Ceylon PLC, its subsidiaries and associates, the Group reported top line
growth of 7.94% to Rs 150.741bn for the 12 months ending 31st December 2019, with interest income, the main
source of fund-based operations, up by Rs 10.763bn or 9.06% to Rs 129.288 bn.
• Total operating income improved by 4.35% to Rs 67.687bn before impairment charges and Impairment charges
increased by Rs 2.498 bn or 28.28% to Rs 11.332bn, and DRL by Rs 1.819bn to Rs 2.469bn in the 12 months,
exerting pressure on profit before tax (PBT), which eventually declined by 11.93% to Rs 22.984 bn.
• Profit after tax (PAT) at Rs 17.420bn for the year reflected a decline of 2.48% due to income tax for the period
reducing by 32.45% largely due to gains from a Government decision, announced by the Department of Inland
Revenue to exempt interest income on Sri Lanka Development Bonds from income tax.
5. Research & Development Unit
ComBank wins ‘Decade of Excellence’
award for Retail Banking from top UK
magazine
Commercial Bank has won the ‘Decade of Excellence’ Award
for Retail Banking in Sri Lanka at the 10th edition of the
annual awards of the prestigious UK publication Global
Banking & Finance Review.
The magazine honoured Commercial Bank with this award in acknowledgment
of the Bank’s performance over the past ten years and its winning streak of the
past four years, when it won the title of ‘Best Internet Bank – Sri Lanka’ from
the same awarding body.
6. Research & Development Unit
ComBank Maldives honoured for
Excellence in Finance at Maldives
Business Awards
The Commercial Bank of Maldives (CBM), a
subsidiary of the Commercial Bank of Ceylon PLC,
has been honoured with the award for ‘Excellence
in Finance’ in the Banking and Finance category at
the 2019 Maldives Business Awards in just its
third year of operation.
The awards recognize business excellence and the introduction of revolutionary and innovative
services and reward local corporations and individuals for maintaining
industry best practices.
The awards programme is organised by Blazon Inc., a full-suite Public Relations, Marketing and
Business Development agency in the Maldives.
9. Research & Development Unit
Major Contributory Factors for the Contraction in theTrade Deficit:
Jan-Dec 2019 (USD Mn)
Source: CBSL
External Sector : Jan-Dec 2019 (cont)
10. Govt. rolls out new measures to fast-track
FDIs
Research & Development Unit
• The Government has rolled out new measures to fast-track Foreign
Direct Investments (FDIs), aiming to fully realize a USD 2.5bn target.
• Among the new measures is the appointment of two special
committees within the Board of Investment (BOI) to speed up the
approval process to start FDI projects without delays. They are the BOI
Project Inspection Committee and the Land Allocation Committee.
- According to an official, some Investors have to obtain over 20 approvals and licences from a
number of agencies for an investment. Due to the lack of coordination between these institutions,
the investment approval process takes considerable time.
- The Project Monitoring Committee has taken immediate steps to approve all investment
applications in collaboration with the relevant departments of the Board. The Land Allocation
Committee will evaluate the BOI land in accordance with technical and financial criteria and
properly transfer the land. A taskforce has been set up to facilitate single-window investments
while online investment facilities have been improved.
11. Research & Development Unit
Port City’s first overseas launch in
Singapore
• Colombo Port City is to be launched overseas at World Cities
Summit 2020 at Marina Bay Sands
• Project company has signed over 200 MOUs with potential
investors, mainly from India, Middle East, South East Asia
(predominantly Singapore) and China
• 50 hectares of land now ready for construction
• Construction of yacht marina and USD 400mn mixed development
project to begin this year
• Colombo Port City would be similar to China’s Shenzhen and South
Korea’s Incheon
The project company of Colombo Port City (CPC), CHEC Port City
Colombo, is set to kick off the global launch of the Colombo
Port City project for investors at World Cities Summit 2020 in
Singapore this July with first few developments of the project
scheduled to break ground within the year.
The Colombo Port City is expected to contribute
USD 11.8 bn to Sri Lanka’s economy per annum
upon completion, according to an independent
study carried out by PricewaterhouseCoopers
(PwC).
The projected USD 11.8 Bn contribution would
amount up to over 13 % of the current GDP.
12. Ceylon GrapheneTechnologies creates
new vistas for local graphene industry
Research & Development Unit
Ceylon Graphene Technologies (CGT) has taken a
big step in Sri Lanka by converting graphite into
graphene to cater to export markets with value
additions.
CGT, a joint venture between the LOLC Group and the
Sri Lanka Institute of Nanotechnology (SLINTEC) is Sri Lanka’s
first graphene and advanced material company.
The main objective of the graphene advancement project is to enhance the efficiency of graphite-based products
and encourage their export with improved value addition by relevant industries. At present Sri Lanka exports
graphene in a low value-added form.
With new technology SLINTEC and CGT have developed a unique, advanced and sustainable graphite refining
process which can produce graphene from locally mined graphite at a fairly a low cost, they pointed out.
Vein graphite is sold at around USD 1.2 to USD 1.8 a kilogram, while graphene can be sold at around USD 3,000 per
kilogram. Accordingly, three metric tons (MTs) of graphene per year are currently being produced by GCT.
It was noted that the new graphene manufacturing plant commissioning is in progress and will be completed by
May 2020, which will increase the production capacity to six MTs per year.
13. Luxury brands, Ritz Carlton and JW
Marriott to open hotels in SL
Research & Development Unit
The luxurious 500 roomed five star JW Marriott located in Negombo is billed for launch in the
4Q of 2021, while the Ritz Carlton with its 228 keys will open its doors in Mirissa in the 3Q 2022
detailing its unparalleled signature of defined luxury .
Chairman of Greener Water Limited
Dhammika Perera (a fully owned
subsidiary of Vallibel One PLC) and
Chairman of Summer Season Ltd Mohan
Pandithage recently signed two MOUs to
establish global luxury brands JW
Marriott and Ritz Carlton in Sri Lanka.
15. India is now the world’s 5th largest
economy
Research & Development Unit
India became the world’s fifth largest economy last
year (USD Bn 2,935.57), according to data from
the IMF’s October World Economic Outlook. When
ranked by nominal GDP, the country leapfrogged
France and the UK.
The country's GDP growth has been among the
highest in the world in the past decade – regularly
achieving annual growth of between 6-7%.
This rapid rise has been fueled by a number of
factors, according to a 2016 McKinsey Global
Institute report, including urbanization and
technologies that have improved efficiency and
productivity.
Source: IMF
16. Australia, South Korea, Brazil are the
major economies most exposed to
China trade
Research & Development Unit
China’s first-quarter GDP growth could
slow to 4.5% year-on-year, a record low
because of the coronavirus, according
to Bloomberg Economics’ scenario
analysis.
If that happens, a period of weaker
imports will transmit the shock to trade
partners.
Looking at exports to China as a share of
total exports, the major economies with
the highest exposure are Australia, South
Korea and Brazil.
17. Corona Impact
The coronavirus epidemic creates new risks to the prospects of an incipient
stabilisation of global growth this year resulting from a truce in the US-China
trade war and emerging signs of a pickup in the industrial sector.
• If the disruptions from the virus end quickly,
IMF expect the Chinese economy to bounce
back soon.
• The result would be a sharp drop in GDP
growth in China in the first quarter of 2020,
but only a small reduction for the entire year.
• Spillovers to other countries would remain
relatively minor and short-lived, mostly
through temporary supply chain disruptions,
tourism, and travel restrictions.
• A long-lasting and more severe outbreak would result
in a sharper and more protracted growth slowdown in
China.
• Its global impact would be amplified through more
substantial supply chain disruptions and a more
persistent drop in investor confidence, especially if
the epidemic spreads beyond China.
There are a number of scenarios, depending on how quickly the spread of the virus is contained.
Apart from China , Moody’s has also reduced the growth
forecasts of Korea, Japan and Australia on account of the
coronavirus outbreak.
Research & Development Unit
18. 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 >