Hanjin Shipping ...

A spokesman for the Seoul Central District Court overseeing Hanjin Shipping’s receivership said assets currently set to be put up for sale include the entire operations of Hanjin Shipping’s U.S. to Asia routes such as manpower systems, five container ships, and 10 overseas businesses.

He declined to comment on the potential price or interested parties for the assets.

The Port of Long Beach said Wednesday that container volumes in September fell 16.6 percent from a year ago, as the effects of the Hanjin bankruptcy reached West Coast ports.

Hanjin Shipping accounted for approximately 12.3 percent of the port’s total containerised volume, it said.

A spokesman for shipper Hyundai Merchant Marine (HMM) declined to comment on whether it is interested in any of the assets to be sold until HMM has reviewed the assets on the block.

Hanjin Shipping shares closed up 30 percent on hopes for the asset sales. Until Wednesday, the stock had tumbled about 34 percent since late August.

Despite criticism, the current government has not hesitated to take credit for some of the projects launched by Rajapaksa.

“We’ll be finishing a lot of the infrastructure projects I told you about earlier. The highways to Kandy, Trincomalee, Jaffna, and Matara and the Port City we’re hoping to finish within the next 3 years,” Senasinghe said.

Tourism Development, Land and Christian Affairs Minister John Amaratunga this week said that there was no point in distinguishing between the different governments that started development, since the past government too had taken credit for initiatives started by its predecessors.

Projects started by the past regime were delayed for over a year, as the current regime investigated allegations it made into corruption and lack of environmental feasibility studies concerning the projects.

At the grassroots, citizens are complaining that there has not been any development or improvement of their living standards under the current regime, which Institute of Policy Studies Chairman Professor Razeen Sally warned about recently.

The current government, which has also taken massive loans to rollback past debt and payout unsustainable public sector wage increases, has planned some transportation, housing and industrial development in Colombo under the Megapolis Project, and urban development in Kandy and Trincomalee.

It is planning to negotiate several free trade agreements with China, Singapore, Malaysia, Thailand, Vietnam and Bangladesh to create export-led growth, Senasinghe said.

“As World Trade Organization (WTO) members we must make efforts, we must speed up implementation of the packaged agreement. We must step up our effort to improve the trade facilitation agreement as soon as possible. This is essential,” China’s Vice Minister of Commerce Wang Shouwen told the World Export Development Forum (WEDF) 2016, that concluded in Colombo yesterday.

He noted that the trade cost reduction produced by the Trade Facilitation Agreement (TFA) could be more valuable for developing countries and they should join in regional development measures.

Advocating for Free Trade Agreements (FTAS), an avenue China capitalized on to integrate with the world, Shouwen stressed that open and transparent FTAS do not substitute WTO, but supplement it.

“FTAS between members that are at different levels of development promote industrial cooperation. It would allow trade and investment flow to the benefit of all participants,” said the Vice Minister while commending Sri Lanka for taking a similar route in its determination in boosting trade ties with the international market.

To-date, China has concluded 14 FTAS covering 22 countries and as result has been successful in attracting US $1.7 trillion in FDIS. This alone accounts for about half of China’s trade and 14 percent of China’s total jobs.

“Attracting investment is important for exports and FDIS and knowledge transition is a crucial part of driving indigenous innovation in local companies,” he added.

Furthermore, the Vice Minister also reaffirmed China’s continued support to Sri Lanka. Acknowledging that the two nations are in active discussion in boosting ties, Shouwen stressed China would support Sri Lanka’s development ambitions and would partner with the country going forward.

“China is willing and very faithful to Sri Lanka and would remain so as a partner to making a large number of planned projects by the Sri Lankan government a success,” he assured.

He added that government officials have been directed to make a complaint at the Criminal Investigation Division, and the matter has been brought to the attention of Sri Lanka’s anti-cyber crime unit Computer Emergency Readiness Team (CERT).

The accounts have been in operation for over 5 months, and the twitter account has nearly 1,400 followers, while the Facebook account, which has been verified by Facebook as an official account, has over 25,500 likes.

González made these observations at the ‘Ring the Bell for She Trades Initiative’ ceremony that took place at the Colombo Stock Exchange (CSE) yesterday. The event was graced by UN, CSE and EDB officials along with members of the WIC.

The trade expert pointed out that enough has been done in the area of education, and getting women into the parliament, and the current context calls for attention in the areas of making women active participants of the economy.

“It is not about women, this is about societies. It is about working together, men and women, to change stereotypes. So pick your bests action, be it in data, public procurement, corporate dialogues, trade policies, and make sure that in the society, community, business, and the economy, you must work to empower women economically,” said González.

While assuring Sri Lanka will play an active role in this global movement, EDB Chairperson Indira Malwatte stressed the need for women to receive the required support.

“We firmly believe that unless women are given a proper job, unless there is money in their pockets, they can never be empowered. And the only way we can empower women is to give good self-employment. This we are committed to,” said Malwatte.

Reflecting similar sentiments, CSE Chairman Vajira Kulathilake said his institution was of the firm belief that enabling the potential of women was central to ensuing sustainable and inclusive development, both in businesses and community.

“In the perspective of capital markets, society needs women from around the country to come forward and play an active role in investment and managing their investment because the opportunity presented by the capital market is not limited to a particular gender or race. We stress that the economic climate will improve only if people of all walks of society participate in the growth story,” said Kulathilake.

The’ Shetrades’ initiative was launched in 2015 as a part of ITC’S effort to support United Nation’s member states achieve Goal 5— to empower all women and girls—of the 2030 agenda for sustainable development.

Via ‘Shetrades’ web and mobile application, women entrepreneurs across the world are provided with the unique platform to connect to markets.

Foreign investors, who have sold a net Rs.2.37 billion (US$ 16.19 million) worth of shares so far this year, bought a net Rs.88.7 million worth equities.

Trading volumes have been low as cautious investors waited for announcements of corporate results for the September quarter starting later this month and for direction on economic policy when the country’s budget is unveiled early November, brokers said.

Top conglomerate John Keells Holdings fell 1.36 percent, while private lender Commercial Bank of Ceylon dropped 0.47 percent.