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Scheme aims to boost bank lending to households and firms UK banks can access initial 80 bln stg cheaply from BoE Banks face higher fees from BoE if they do not raise lending Economists and BoE cautious about likely impact LONDON (Reuters): Britain gave details on Friday of its new scheme to keep banks to ...
REUTERS: Little more than a dozen years after the region’s crippling financial crisis, Southeast Asia is looking more a safe haven than a risky bet, with foreign investors souring on China and India and pouring money into markets proving resilient to the global gloom. Short-term investors
The Sri Lanka Economic Association or SLEA, the long-standing professional body of economists of Sri Lanka, has published some selected papers presented at its Annual Sessions in October 2011 in a volume titled ‘Achieving Economic Goals in the Midst of Global Challenges,’ the theme of the sessions. The volume, edited by two veteran economists – ...
Boeing, Airbus report $35 b total firm orders Production issues in focus at quiet air show FARNBOROUGH, England (Reuters): The world’s dominant aircraft makers, Airbus and Boeing, left a rain-swept Farnborough Airshow without the order deluge some had predicted, but each claiming victories as they prepare to focus on delivering a huge jet backlog from ...
The conference on ‘Sri Lanka Ports Trade and Logistics’ concluded recently at Hilton Hotel Sri Lanka, revolved around the need to market Sri Lankan ports globally with a view to achieving a better synergy between maritime and logistics operations in Sri Lanka, with its geo-strategic location along the main International Shipping Lane. This apart strategic ...
Reuters: Investors are criss-crossing the increasingly smudged line between emerging and developed markets as the euro zone crisis challenges traditional perceptions of a safe investment. This blurring of distinctions was illustrated last month by index compiler MSCI’s surprise decision
auction threatens to reinforce fears over Europe’s debt crisis. China’s economy grew ...
China was a tower of strength to Sri Lanka, especially when we faced various challenges in the international arena, External Affairs Minister Prof. G.L. Peiris said. The Minister was making the keynote address at the 55th anniversary of the establishment of diplomatic relations between Sri Lanka and the People’s Republic of China and the 60th ...
REUTERS: Moody’s on Friday surprised markets by downgrading Italy’s government bond rating by two notches to Baa2 and warned it could cut it further, piling on pressure just hours before the country launches its latest bond sale. The move left Italy’s rating just two notches above junk status and could raise already-painful borrowing costs. The ...
South Asia expected to grow 6.2% in 2012 and 6.9% in 2013BANGKOK, THAILAND: Europe’s worsening financial and banking crisis and a sluggish recovery in the United States are weighing on developing Asia’s growth prospects, according to figures released yesterday from the Asian Development
Worldwide IT spending is on pace to reach $3.6 trillion in 2012, a 3% increase from 2011 spending of $3.5 trillion, according to the latest outlook by Gartner, Inc. Gartner’s 2012 IT spending outlook has been revised up slightly from the 2.5% projection last quarter. Gartner’s global IT spending forecast is relied upon by more ...
The Pacific Asia Travel Association (PATA) hosted the PATA Hub City Forum, London, 5 July at the Institute of Directors in Pall Mall. The objective was to engage on a variety of strategic matters including UK border issues, inward investment for the UK, Heathrow Airport, crisis response, the 2012
Reuters: Asian shares slid on Thursday as a surprise rate cut from South Korea and an unexpected slump in Australian employment deepened worries about global economic growth. The news weighed on sentiment already hurt after minutes from a Federal Reserve meeting in June showed conditions may need to worsen before policymakers possibly buy more bonds ...
South Asia expected to grow 6.2% in 2012 and 6.9% in 2013 BANGKOK, THAILAND: Europe’s worsening financial and banking crisis and a sluggish recovery in the United States are weighing on developing Asia’s growth prospects, according to figures released yesterday from the Asian
Reuters: Growth in technology spending by companies and the public sector is stabilising at much lower levels than last year, due to economic worries in many key markets, research firm Gartner said this week. “While the challenges facing global economic growth persist … the outlook has at least stabilised,” said Richard Gordon, research vice president ...
Reuters: Thailand, the world's biggest rubber producer and exporter, is asking other major producers Malaysia and Indonesia to help it set a benchmark rubber export price, which has fallen by almost a fifth since its peak this year due to weak demand. "Attempts by Thailand alone cannot push up prices as there are external factors ...
Following is the full text of Secretary to Ministry of Finance and Planning and Ministry of Economic Development Dr. P.B. Jayasundera’s keynote address titled ‘Sri Lankan Economy in Perspective’ at first plenary session of the Ceylon Chamber of Commerce Sri Lanka Economic Summit yesterday under the theme ‘Positioning Sri Lanka in the Global Economy’ Chairman, ...
By Cassandra Mascarenhas The end of a long period of conflict brings many factors that need to be addressed. The multitude of issues that arise in a post-conflict situation is not easy to manage and requires time. Failure to address these adequately and speedily can result in agitation from the public and drive away potential ...
Reuters: Fitch Ratings on Tuesday affirmed its AAA credit rating on the United States and maintained a negative outlook, citing a diversified and wealthy economy that is undermined by the government’s inability to agree on deficit reduction measures. “The uncertainty over tax and spending policies associated with the so-called ‘fiscal cliff’ weighs on the near-term ...
Reuters: Economic growth across emerging markets eased in the second quarter of 2012, dragged down by lacklustre manufacturing sector activity, especially in China and Brazil, an HSBC survey showed on Wednesday. HSBC’s emerging markets index (EMI), based on 21 service and manufacturing sector surveys in 16 emerging economies, slipped to 53.0 in the second quarter ...
LONDON(Reuters): Unemployment in advanced economies will remain high until at least the end of 2013, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery in the past four decades, the OECD said on Tuesday. The jobless rate in the 34-country OECD area will still be stuck ...
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
Reuters: Asian shares crawled higher on Tuesday after sharp losses the day before but gains were limited as investors, worried about a global economic deceleration, waited for Chinese trade data due later in the day that could set the tone for risk appetite. MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.2 per ...
to its pre-crisis growth levels ...
REUTERS: As China slips, the second-half performance for many emerging market mutual funds might soon follow. In recent months, investors have been pulling hundreds of millions of dollars out of stock funds that invest mainly in companies associated with the big four emerging market nations of Brazil, Russia, India and China. But it’s China that ...
The Oxford Advanced Learners Dictionary defines ‘reconcile’ as ‘finding an acceptable way of dealing with two or more ideas that seem to be opposed to each other’. ‘Reconciliation’ is defined as ‘an end to a disagreement and the start of a good relationship again,’ and as ‘the process makes it possible for two different ideas ...
"We expect all reports must be true and accurate. Today I found in the FT that what I said (yesterday) is reported in three sentences (reference to 5 July Daily FT’s Page 1 story titled ‘Ranil calls for suspension of EPF investments’). I want to bring this to your (House) notice specifically more than anything ...
Two events hit the local and global media separately last week. The local media event was the release of the Midyear Fiscal Position Report 2012 by the Ministry of Finance and Planning in terms of the requirements of the Fiscal Management (Responsibility) Act of 2003 (available at: http://www.treasury.gov.lk/depts/fpd/reports/fmr/2012/midyearreport-2012.pdf).
Reuters: Asian shares slipped on Friday, taking their cue from falls overnight in global stock markets. Sentiment stayed cautious despite new stimulus steps taken by three major central banks, with the focus now on U.S. jobs data due later in the day. The U.S. jobs report will offer clues about the extent of damage the ...
Reuters: China, Europe and Britain loosened monetary policy in the space of less than an hour on Thursday, signalling a growing level of alarm about the world economy, although suggestions of coordinated action were played down. Of the three, the surprise move was from Beijing which lowered its lending rate by 31 basis points to ...