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ww.wsws.org: On May 20, the Socialist Equality Party and International Student for Social Equality (ISSE) held a successful congress of plantation workers at Hatton, in Sri Lanka’s central hill region. A number of workers, including several dozen from the Nuwara Eliya and Badulla tea plantation districts, as well as youth and students from Jaffna, Kandy ...
The Ceylon Chamber of Commerce (CCC) signed a cooperation agreement with the Chamber for Promotion and Economic Development of the BRICS Countries (Brazil, Russia, India, China and South Africa) called ‘BRICS-PED’ recently. This special agreement will initially promote an identified
( April 29, 2012, Colombo, Sri Lanka Guardian) Sri Lanka has once again, like many times in recent years, sought the assistance of China to help avert a balance of payments crisis and also fund two key projects, official and political sources said. In a visit just before the Sinhala and Hindu New Year, that was kept under wraps, a team of officials led by Treasury Secretary Dr. P.B. Jayasundera we...
Sri Lanka has once again, like many times in recent years, sought the assistance of China to help avert a balance of payments crisis and also fund two key projects, official and political sources said. In a visit just before the Sinhala and Hindu New Year, that was kept under wraps, a team of officials led by Treasury Secretary Dr. P.B. Jayasundera went to China and secured assurances of a US$1....
Sri Lanka’s tea exports in 2011 reached an all time in US Dollar terms as well, according to Ceylon Tea Brokers Plc. “Based on the weighted average rupee value for US$ 1 in 2011 and 2010 as obtained from the website of the Central Bank of Sri Lanka, equivalent US$ export earnings in 2011 amounted ...
LONDON (Reuters) : Brent crude oil gained on Wednesday, with investors optimistic that the U.S. Federal Reserve may give hints of more monetary easing, supporting demand sensitive assets. Brent crude rose 44 cents to $118.60 a barrel by 0909 GMT, while U.S. crude was up 48 cents at $104.03. A third round of monetary stimulus ...
Reuters: Fresh from a big victory in raising $430 billion for the International Monetary Fund, Christine Lagarde’s tougher test as head of the global lender will be finding a way to give emerging economies more influence. To do this, the former French finance minister will need to convince the Fund’s dominant powers – the United ...
Reuters: The Group of 20 nations on Friday pledged $430 billion in new funding to the International Monetary Fund, more than doubling its lending power in a bid to protect the global economy from the euro-zone debt crisis. The promised funds from advanced and emerging economies will provide the global lender with a huge war ...
Shift The Human Rights Council made a shift from May 2009 by voting (March 22) to criticize the Sri Lankan government for “not adequately address... serious allegations of violations of international law” when conducting its final phases of war against the liberation guerrilla army LTTE (Liberation Tigers for Tamil Eelam), which ended, May 18, 2009, with government-caused ...
Fat burners do not burn fat, literally; aphrodisiacs are frustratingly passionless; tablets to prolong passion fall short of the desired duration; green tea is trying to slim fat bodies; memory enhancers inevitably cause dementia; Minoxidil and hair formulae keep heads balding; and beauty products create superficial, transient beauty. There are medications to elongate the phallus ...
Reuters: The International Monetary Fund’s bid to win a big boost in funding to handle the euro-zone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash. Brazilian Finance Minister Guido Mantega laid out the terms for a ...
Prospects for the global economy are slowly improving again, but growth is expected to be weak, especially in Europe, and unemployment in many advanced economies will stay high, according to the IMF’s latest forecast. Although action by policymakers in Europe and elsewhere has helped to reduce vulnerabilities, risks of a renewed upsurge of the crisis ...
WASHINGTON: The World Bank’s directors meet on Monday to decide who will be the powerful institution’s next chief, with all expectations that the US will maintain its unbroken lock on the position. While the US nominee has faced a challenge for the first time in 66 years, from two solid developing country candidates, there was ...
The heads of state of BRICS countries met for the fourth time at their annual summit, this time held in Delhi. The original BRICS countries are Brazil, Russia, India and China with South Africa joining later on. These countries belong to the category now described as emerging economies. The BRIC
The Commercial Bank of Ceylon has once again been adjudged Sri Lanka’s Best Bank by Global Finance magazine, giving the bank the distinct honour of winning this prestigious award for 14 consecutive years. The US-based magazine has named its ‘Best Emerging Market Banks in Asia’ rankings in an exclusive survey to be published in the ...
by the leaders of Brazil, Russia, India, China and ...
Reuters: The BRICS group of emerging market nations will look at ways of pressuring the West to redress global economic imbalances amid growing frustration at the pace of change in institutions such as the IMF at a meeting in Delhi on Thursday. Brazil’s Trade and Industry Minister Fernando Pimentel told Reuters on the eve of ...
Reuters: The BRICS group of emerging world powerhouses – Brazil, Russia, India, China and South Africa – is expected to launch plans this week for a joint development bank and measures to bring their stock exchanges closer together. Officials say the initiatives will take time
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
Major emerging market economies will look closer at creating a joint development bank to co-ordinate their financial power as the world economy falters, said Brazilian Trade Minister Fernando Pimentel. Development banks of the so-called Brics group of emerging economies plan to ink memorandums of understanding next week in India to work on the creation of ...
Let’s learn the right lessons from the Geneva outcome, not the wrong ones. It is not the case that a small country such as Sri Lanka cannot fight a diplomatic battle with the mighty USA and win. Minutes after the Sri Lanka vote at the HRC this time, the Cubans moved a resolution on the composition ...
Reuters: Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to make the first concerted challenge to the U.S. grip on the top job at the World Bank, according to sources. The two globally respected economists and diplomats will be nominated for the World Bank presidency by South Africa ...
Reuters: A counteroffensive of sorts may be underway this year in what has seemed like a one-sided “global currency war” as developing economies slow, western money-printing pauses and the heat comes out of pumped-up emerging market currencies. The three-year-old “war”, as Brazil dubs the devaluationist policies of developed nations seeking relief from home-grown credit cru...
Loss-making State-owned enterprises are nothing new in Sri Lanka. One of the better known ones is SriLankan Airlines, which was given to Emirates due to its inability to breakeven but was retaken by the present Government. Pros and cons of this move is history but cash-strapped and a midst losses, it appears that the Government ...
Today is 19 March 2012. The day and the month of March are significant in the lives of many people – some celebrating birthdays, some wedding anniversaries, while others nurse what is yet left over from the hangover of the three day drawn encounter that we experienced a week ago or the limited over Royal ...
Amid mounting speculation of potential oil reserves in Sri Lanka's seawaters, Indian media reports have suggested that India might be looking for a greater involvement overstepping China and Russia, who are also believed to be interested in oil exploration deals with the island nation.
India, China and Russia are interested about Sri Lanka's potential oil reserves, reports say.
With the country abuzz with the contentious US resolution on Sri Lanka at the ongoing UNHRC sessions Asia Wealth Management Research team has come up with a brief analysis of the move’s impact if any. Here are excerpts from Asia Wealth’s analysis: The US proposed resolution on Sri Lanka in the current session of the ...
Reuters: HSBC (HSBA.L) has agreed to sell its general insurance businesses to AXA Group and QBE Insurance Group for a cash consideration of $914 million, as Europe’s biggest bank moves ahead with its plan to divest non-core assets. The deal, the latest in a series of cost cut initiatives under the new HSBC CEO Stuart ...
Reuters: Vladimir Putin triumphed in Russia’s presidential election on Sunday and, tears rolling down his cheeks, called his victory a turning point that had prevented the country falling into the hands of enemies. Putin’s opponents complained of widespread fraud, refused