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Economic Newsletter : February 2019

Economic

 Focus Issues  High Impact News
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A new centre for Artificial intelligence in India
India is set to become a hub for artificial intelligence with the Government planning to set up a national AI Centre and a programme for the development of AI.  The Centre which will be launched by July, will look at how AI can be used in key sectors like health care, education, and agriculture.
 
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70th Republic day of India celebrated in Colombo
India’s 70th Republic Day was celebrated in Sri Lanka with multiple events – a special cultural event ‘Strings of Peace’ featuring legendary Sarod maestro Ustad Amjad Ali Khan along with sons Aman Ali Bangash and Ayaan Ali Bangash at the BMICH on January 25, ceremonial hoisting of the flag on the morning of 26th January at India House followed by a reception in the evening.
 
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India 4th most attractive investment market for global CEOs: PwC survey
Released on the first day of the World Economic Forum a new PwC survey shows that India has emerged as 'the rising star' by surpassing the UK to become fourth most attractive destination.
 
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Uttara Devi train under Indian funding commences maiden journey to Jaffna from Colombo
‘Uttara Devi’, the new self-propelled Diesel Multiple Unit (DMU), was flagged off by Hon. President Maithripala Sirisena on 27 January in the presence of Hon. Minister of Transport and Civil Aviation Arjuna Ranatunga ...
 
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Asian firms bet on India to set up R&D units to boost tech innovations
After US and European companies, now Asian firms are also betting big on Indian talent by setting up research and development (R&D) units. In the last one year, at least nine large business conglomerates from countries like Japan and Singapore have set up their captive technology centres in India to step up research and development in areas like Internet of Things (IoT), artificial intelligence, data analytics, among others.
 
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150 houses built with an Indian grant handed over to Sri Lankan plantation workers
150 houses built under Indian Grant assistance were handed over to the beneficiaries at the Dayagama West Estate in Nuwara Eliya in a ceremony attended by various ministers and officials from the High Commission of India. Deputy High Commissioner Dr. Shilpak N. Ambule in his remarks on the occasion congratulated the proud owners of the newly-built independent houses ...
 
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Indian startups raised USD 38.3 bn funding in 2018
Indian startups are estimated to have raised $38.3 billion in funding in 2018, behind only the US and China according to a report by Yostartups. Flipkart’s $16 billion deal with American retailer Walmart accounted for the biggest piece of the pie, followed by Swiggy raising about $1.3 billion over three deals, and OYO picking up $1 billion in 2018, the report said.
 
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India assists construction of new school buildings in Sri Lanka's Northern Province
Two new school buildings constructed with Indian assistance were handed over to the people at Navatkuli and Chavakachcheri in Jaffna District. These buildings are part of new class room buildings being currently constructed in overall 27 schools in the Northern Province at a cost of 250 million Sri Lankan Rupees...
 
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