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Sri Lanka places great importance on One Belt One Road initiative

The event was the fourth gathering of governors, journalists, scholars, businessmen, and citizens from Tianjin and beyond. The highlight of the afternoon was the ambassador’s speech, during which he introduced Sri Lanka as a pearl and fast becoming a hub in the Indian Ocean. More than 20 officials from Sri Lanka’s Ministry of Agriculture visited an internet technology service provider in Beijing last Thursday, to gain better knowledge of mobile apps and easily accessible website-making software.Sri Lanka has already collaborated with China in many ways, including education, infrastructure construction, import and export. In 2016, Sri Lanka expects 320,000 Chinese tourist arrivals, which is 1.5 times that of 2015. (Colombo Gazette) Karunasena Kodituwakku, Sri Lanka’s ambassador to China, made the remarks at a Dialogue in Tianjin and encouraged Chinese investment, especially in new technology, China Daily reported. He said that Sri Lanka would be open to all kinds of investment from China, but investment in new technology was most welcomed. “Youth today are more tempted to be engaged in new tech,” he said.Chen Weiming, vice chairman of the Tianjin Association for Friendship with Foreign Countries, noted “We have built a formal platform between the two countries and offered our various sources to eliminate the risks of foreign investments.” Zhang Bin, founder and inheritor of Jade Zhang, a traditional Tianjin brand selling jade and jewelry, said, “It was such an endurance to deal with the officials directly. The tax preferential policy sounds attractive and I hope they could be more open to small business.”With 30 years’ experience in the jade trade, Zhang noted that the jade market in North China is very large and suggested, “Sri Lanka should bring more jade fairs to the North China.”The ambassador also said that Sri Lanka places great importance on the “One Belt One Road” initiative, such as the 21st century Maritime Silk Road, a great opportunity for cooperation between the countries. Sri Lankan Prime Minister Ranil Wickremesinghe visited Beijing last month, seeking more investment possibilities. Sri Lanka places great importance on China’s “One Belt One Road” initiative, a Government official said.The Government also encouraged Chinese investments, especially in new technology. read more

Average US 30year mortgage rate slips to 417 per cent

WASHINGTON – Long-term US mortgage rates eased slightly this week.Mortgage buyer Freddie Mac said Thursday the rate on 30-year fixed-rate loans slipped to an average 4.17 per cent from 4.19 per cent last week. That was still sharply higher than a 30-year rate that averaged 3.65 per cent for all of 2016, the lowest level recorded from records going back to 1971. A year ago, the benchmark rate stood at 3.65 per cent.The average for a 15-year mortgage declined to 3.39 per cent from 3.41 per cent last week.To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 per cent of the loan amount.The average fee for a 30-year mortgage fell this week to 0.4 point from 0.5 point. The fee on 15-year loans also declined to 0.4 point from 0.5 point.Rates on adjustable five-year loans eased to 3.21 per cent from 3.23 per cent. The fee remained at 0.4 point. by The Associated Press Posted Feb 9, 2017 8:34 am MDT Last Updated Feb 9, 2017 at 11:40 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Average US 30-year mortgage rate slips to 4.17 per cent read more