By Chamitha Kuruppu UNP Parliamentarian Sujeewa Senasinghe yesterday filed a Fundamental Rights case against the Central Bank Governor at the Supreme Court challenging the prudence of Greek bond investments.   Speaking to the Daily FT MP Senasinghe said, “I am seeking an interim injunction for them (the Central Bank) not to invest any more money ...

Reuters: Indian Finance Minister P. Chidambaram sought on Monday to allay investor worries about an economy growing at its weakest pace in almost a decade by pledging to address their concerns over taxes, public finances and interest rates. In his first comments since becoming finance minister on July 31, Chidambaram said it was important to ...

SINGAPORE (Reuters): The sanctions reducing Iran’s oil exports have played in the favour of major producers such as Saudi Arabia, Russia and Venezuela which now export about 21 percent more crude to Asia’s biggest buyers compared to a year ago. Iran’s exports to China, Japan, South Korea and India have fallen by a third in ...

LONDON (Reuters): Britain’s economy shrank far more than expected in the second quarter, battered by everything from an extra public holiday to government spending cuts and the neighbouring euro zone crisis. Finance minister George Osborne said figures released on Wednesday showed Britain had “deep-rooted economic problems,” adding that the slump in the second quarter was ...

Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets are well aware of the risk-return tradeoff intrinsic to these markets. Low ...

Reuters: Workers living through the slowest run of global economic growth in more than three years are in fear for their jobs everywhere except in the very place investors are most concerned about – China. Despite six straight quarters of slowing growth, there are more job vacancies in China than there have been for around ...

BEIJING (Reuters): Beijing is eager to rewrite negative perceptions of its growing ties with Africa at a summit this week, citing expanding private investment and a push to shift low-end manufacturing to the continent long seen as a commodities and energy cache for China. Chinese state-owned firms in Africa face criticism for using imported labour ...

Global Foreign Direct Investment (FDI) inflows rose 16 per cent in 2011, surpassing the 2005-2007 pre-crisis level for the first time, despite the continuing effects of the global financial and economic crisis and the current debt crisis in Europe, UNCTAD’s annual survey of investment trends reports. The World Investment Report 20121, subtitled ‘Towards a New ...

By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search

MILAN/LONDON (Reuters): Italian fashion house Valentino has been snapped up by the Qatari royal family for 700 million euros ($857.5 million), the latest purchase of a top European luxury brand by an emerging market investor. The luxury label loved by Jacqueline Kennedy Onassis and Audrey Hepburn said on Thursday that Mayhoola for Investments S.P.C, an ...

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

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 to review Greece’s stock market for downgrade to emerging market status, usually assigned to poorer ...

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 ...

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 Standard and Poorandrsquo;s (Sandamp;P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable.

LONDON (Reuters): Gold prices eased a touch on Monday after a sharp rally the previous session, surrendering gains along with the euro and other commodities as a bounce lent to the financial markets by European Union plans to tackle the debt crisis petered out. Gold surged 3 percent on Friday, its biggest one-day rise since ...

LONDON, (Reuters): Barclays Plc chairman Marcus Agius quit on Monday, saying “the buck stops with me” after an interest rate rigging scandal that has dealt “a devastating blow” to the bank’s reputation. Agius, chairman of Britain’s third biggest bank for 5-1/2 years, is the first major scalp from the scandal, which is likely to draw ...

BANGKOK (IPS): The just-ended United Nations sustainable development summit in Rio de Janeiro has exposed the discomfort that many developing Asian countries have over buzz words like ‘green economy’ and ‘green growth’ in development diplomacy. With the Economic and Social Commission for Asia and the Pacific (ESCAP), the U.N. regional development arm, endorsing these concep...

Reuters: JPMorgan Chase & Co’s (JPM.N) losses from disastrous derivatives trades will likely amount to $4 billion to $6 billion in the second quarter, far more than the original estimate of at least $2 billion, according to a person familiar with the matter. The bank has gotten out of more than half of the position, ...

The Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related

MUMBAI (Reuters): India’s natural rubber imports are likely to drop by 27% to 150,000 tons in the current year to end-March 2013 as local output rises and international prices make imports less attractive, a senior government official said. The world’s fourth-biggest producer of natural rubber imported 205,433 tons of the tyre-making raw material last year, ...