Home / Front Page/ Biz confidence spikes despite political turmoil

Biz confidence spikes despite political turmoil


Comments / {{hitsCtrl.values.hits}} Views / Saturday, 8 December 2018 00:32


The latest edition of LMD reports that the LMD-Nielsen Business Confidence Index (BCI) shot up by 25 basis points to 110 in November, from 85 in October. According to the leading business magazine, this is the highest jump since the formation of the now abandoned coalition government back in August 2015.

In the December issue of LMD, Nielsen’s Managing Director Sharang Pant notes that while political instability remains one of the chief national and business concerns, “businesses feel that there would be measures towards improving the ease of doing business by whichever regime assumes power next.”

Moreover, he states that “a reduction in taxes and better policy making are what businesspeople cite as reasons that would lead to an improvement in business conditions”.

LMD reveals that politics, economic concerns – including taxes and currency depreciation – and bribery and corruption are among the key sensitivities highlighted by corporate executives.

Speaking to Daily FT, a spokesperson for LMD notes: “Despite the prospect of oil price volatility and the trade war between the world’s two largest economies, events on home soil have apparently led to a sense of optimism in business circles – surprising as that may seem.”

However, when it comes to the outlook for the unique barometer of business confidence, she says: “It’s anyone’s guess as to where the BCI will head in the short term although there may well be more surprises ahead.”

Media Services, which publishes LMD, says the latest edition of the magazine has been released to leading bookstores and supermarkets (for the full BCI report, visit www.LMD.lk).


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Unless addressed, wages issue will keep troubling Bangladesh’s garment industry

Saturday, 19 January 2019

The recent week-long mass protests by garment workers in Bangladesh came to an end after an upward revision of wages for six classes of workers. But even after the upward revision, the Bangladeshi garment worker gets less than what workers in compara


Is GDP the ideal metric of the future?

Friday, 18 January 2019

In an age of stark contradictions, we live in a world where the exclusive 1% enjoy access to an abundance of wealth and resources but also a world where a billion people scarcely have enough to eat and have limited access to health and education. Whi


Evaluation of economic performance: 4 years into Yahapalana Government

Friday, 18 January 2019

The Yahapalana Government completed four years on 8 January this year. The four-year journey was a rough ride with a clear rift between the President and the UNP; the ruling party. The Government continues to face severe criticism from both inside an


Elimination of bribery and corruption

Friday, 18 January 2019

Bribery and corruption can be regarded as a malicious cancer that has penetrated into almost every strata of Sri Lankan state. It can be considered a major factor affecting Sri Lanka’s poverty, backwardness and indebtedness. Abuse of power by thos


Columnists More