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Although the Asian region is better prepared for economic turmoil than it was a decade ago, high levels of financial, trade and investment integration with the Western economies ensure that no country is immune to the effects of the Eurozone debt crisis. While most of the European Union (EU) economies struggle to design new austerity measures to ...
- Sri Lanka is an exciting and resilient business destination (Category: Business)
- Huge gains for South Asian consumers: CUTS (Category: Business)
- Challenging times for Asia Pacific (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
Asian Development Bank (ADB) Vice President Xiaoyu Zhao has declared that Sri Lanka has big potential than any other country in Asia to become the most viable and attractive regional economic hub. “Strategic location, post conflict infrastructure development initiatives, peace and stability, high economic growth and able leadership are the main factors behind these potential,” ...
- ADB’s South Asia head meets Basil (Category: Business)
- Sri Lanka has big potential to be a viable regional hub – ADB (Category: Breaking News)
- New ADB, Sri Lanka partnership strategy agreed to target growth (Category: Breaking News)
- ADB’s new Sri Lanka partnership to target inclusive growth (Category: Business)
Reuters: Banks are getting round new rules intended to make a still vulnerable industry safer while countries are distracted by the continuing financial crisis, the International Monetary Fund said on Tuesday. The IMF’s latest Global Financial Stability Report said banks will adjust to new costs from tougher regulation to curb excessive risk taking, with deep-pocketed ...
- Demands on bank assets pose “vicious cycle” danger (Category: Business)
- India finds balance in NPLs recovery and borrower rights (Category: Business)
- Insurers, asset managers need tighter control – BIS (Category: Business)
- Three steps to avoid a global depression – Soros (Category: Business)
A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country. What is volatility? Volatility is the severity and the frequency with ...
- Achieving economic goals amidst global challenges (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- Lion leads frontier markets (Category: Business)
SINGAPORE: Business sentiment among Asia’s top companies fell for the second straight quarter, dragged down by export-orientated economies such as China and Japan, while domestic spending helped boost Southeast Asia’s outlook, a Thomson Reuters/INSEAD survey showed. Concerns over global demand are hurting Asia’s export engines, with autos, technology and shipping sectors am...
- Europe, China worries hurt business sentiment: survey (Category: Business)
- Asian markets dampened by Bernanke, factory data in focus (Category: Business)
- Asia’s growth picking up, too early to celebrate (Category: Business)
- ‘Pessimism’ over Asia-Pacific growth: survey (Category: Business)
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
- From poverty to sustainability in Sri Lanka (Category: Business)
- Equity and well-being in Sri Lanka (Category: Business)
- “Connecting People to Prosperity” in Sri Lanka. A reality check with “Mahinda Chinthanaya” (Category: Breaking News)
- ‘Divi Neguma’ Dept: Development catalyst, dependency creator or a white elephant? (Category: Business)
NEW YORK (Reuters): Comparing the Federal Reserve to a rehab clinic offering addicted investors a synthetic high has been a favorite of Wall Street wags ever since the first round of Fed stimulus nearly four years ago. The punch line is that you always need more and more to get the same high and each ...
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
- Fed ramps up economic stimulus, ready to do more (Category: Business)
- Time to buy as market has corrected itself enough: Panel (Category: Business)
- World stocks steady near 11-mth lows (Category: Business)
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
- Army inquiry a delaying tactic: Human Rights Watch (Category: Business)
- President calls on diplomats to counter threats from pro-LTTE Diaspora (Category: Business)
- NGOs Call on U.S. to Establish International Accountability Mechanism on Sri Lanka at UN Human R... (Category: Breaking News)
- Rejected asylum seekers abused in Sri Lanka, says rights group (Category: Breaking News)
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
- Bourse boom awaits boosted brokers after Presidential forum (Category: Business)
- Tilak talks his way out of SEC (Category: Business)
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
- Village as a developmental unit (Category: Business)
- Paddy farmers’ problems (Category: Business)
- Budget 2012’s impact on the export sector (Category: Business)
- Sri Lanka’s stake in the intl. agriculture debate (Category: Business)
Reuters: Germany’s Constitutional Court gave a green light on Wednesday for the country to ratify the euro zone’s new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund. The eagerly awaited verdict boosted global stocks and the euro currency as investors ...
- Euro zone crisis heads for September crunch (Category: Business)
- German FM: Greece needs sustainable debt by 2020 (Category: Business)
- EU leaders to agree on permanent bailout fund (Category: Business)
- Europe splits over fiscal union, UK isolated (Category: Business)
The first Prime Minister of independent India, Pandit Jawaharlal Nehru, wrote 75 years ago: “It would be absurd to say that the profit motive does not appeal to the average Indian, but it is nevertheless true that there is no such admiration for it in India as there is in the west. The possessor of ...
- Corporatism: A step beyond state capitalism (Category: Business)
- The rise of State capitalism: new masters of the universe or an ominous portent? (Category: Business)
- Impunity: Unequal before the law (Category: Business)
Reuters: Asian shares were on track for their biggest daily gain in six weeks on Friday after the European Central Bank outlined its plan to calm the euro zone’s debt crisis and firm US data fed speculation of a strong jobs report later in the day. European equities will likely extend gains modestly after rallying ...
- ECB to hold fire on growth steps in crisis-hit Spain (Category: Business)
- Oil falls towards $105, economy jitters return (Category: Business)
- World stocks off early highs ahead of US jobs (Category: Business)
- ECB sees ‘substantial’ effect from cheap money offer (Category: Business)
By S.S. Selvanayagam The Supreme Court yesterday (6) ordered the Central Bank to file the Foreign Reserve Management Rules (Guidelines) to Court sequent to the Fundamental Rights violation petition challenging the investment on the controversial Greek bonds, which resulted in a loss of Rs. 2.14 billion of public funds to the State. The Deputy Solicitor ...
- UNP MP files FR case against CB’s junk Greek bond investment (Category: Business)
- Minister Amunugama defends Greek bonds investment (Category: Breaking News)
- Central Bank makes substantial gains in reserve management (Category: Business)
- Central Bank defends investment in Greek bonds (Category: Breaking News)
A goat’s best friend is Mervyn! The populace has been cruel to him. Ok, to the goat too, but I am talking about a man willing to be incarcerated just to liberate a hapless animal. Thankfully, the President interceded and saved the day for both. The Minister had promised to defy a Court order and ...
- The other red meat (Category: Australia, Tasmania )
- Battle of the superfoods (Category: Business)
- Mervyn Silva offers she-goat to Goddess Kali (Category: Breaking News)
- Marauding goat Billy attacks trio (Category: Australia, Victoria)
By Devin Jayasundera Former Securities Exchange Commission (SEC) Chief Tilak Karunaratne on Tuesday rebuked allegations of over regulation and ad hoc measures as having impacted the stock market during his tenure and noted that the SEC Act should be strengthened further to punish manipulators. “What some of the crony brokers and dishonest investors try to ...
- Tilak insists no overregulation (Category: Business)
- New SEC Chief says won’t turn blind eye to robbers invading bourse (Category: Business)
- TISL wants Govt. to strengthen resolve against “stock market mafia” (Category: Business)
- SEC Chief tells world via Reuters he is under “immense pressure to resign” (Category: Business)
By Devin Jayasundera Former Securities Exchange Commission (SEC) Chief Tilak Karunaratne yesterday rebuked allegations of over regulation and ad hoc measures as having impacted the stock market during his tenure and noted that the SEC Act should be strengthened further to punish manipulators. “What some of the crony brokers and dishonest investors try to project ...
- TISL wants Govt. to strengthen resolve against “stock market mafia” (Category: Business)
- Market must earn confidence to be more attractive for investors: SEC (Category: Business)
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- IMF joins chorus against SEC Chief’s exit (Category: Business)
NAIROBI (Reuters): Kenya’s horticulture export earnings are expected to grow by 10%this year thanks to above-normal rainfall, but the eurozone’s financial woes were expected to dampen demand for flowers, a senior industry official said on Monday. Horticulture is one of the east African country’s leading sources of foreign exchange alongside tea exports and tourism. The ...
- Japan corporate mood up despite yen worry (Category: Business)
- HE the President visits "Diyatha Uyana" at Battaramulla (Category: Breaking News)
- HE the President visits "Diyatha Uyana" at Battaramulla (Category: Breaking News)
- Serendib Horticulture Technologies to cater field expertise in foreign markets (Category: Business)
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
- Village as a developmental unit (Category: Business)
- China on track to meet 2012 growth target: Wen (Category: Business)
- WB cuts China growth forecast to 8.2% (Category: Business)
- China’s tight job market defies economic downturn (Category: Business)
Placed amidst of wave of opportunity, today Sri Lanka is poised for exponential growth and sustainable economic development. In this context of emerging national prosperity, exports irrefutably play a pivotal role in driving the much anticipated economic progress. Exports are the main foreign exchange earners for the country and present many prospects for growth and ...
- Union Bank principal sponsor for 20th Annual NCE Awards (Category: Business)
- Mobitel sponsors Annual NCE Export Awards for 7th consecutive year (Category: Business)
- Union Bank Principal Sponsor for 19th Annual NCE Awards (Category: Business)
Reuters: Citigroup Inc agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis. The agreement resolves claims that shareholders ended up with massive losses after the bank failed to take timely ...
- Citi to pay CPC $ 2.5m as legal fees (Category: Business)
- Citigroup to cut jobs, total could top 3,000 (Category: Business)
- NYC mayor’s race fundraising stats show Ray McGuire awash in cash (Category: USA, New York)
- NYC mayor’s race fundraising stats show Ray McGuire awash in cash (Category: USA, New York)
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
- Promoting productive social protection (Category: Business)
- MBSL seminar on ‘Implications of the new Finance Business Act’ on 19 September (Category: Business)
- The loud voice of economists: Reform or perish (Category: Business)
- Taming the ‘monsters’ (Category: Business)
Reuters: Gold rose to the loftiest level since mid-April on Monday, extending strong gains from last week as expectations for further monetary easing from the US Federal Reserve kept sentiment buoyant. The Fed had room to deliver additional monetary stimulus to stoke economic growth, said the central bank’s chief Ben Bernanke, boosting anticipation for easier ...
- Live: Titans v Bulldogs (Category: Australia, Queensland)
- Life-long hangover (Category: Australia, Queensland)
- Schoolies make their mark (Category: Australia, Queensland)
- Gold to drop in Q1, far from retesting record high: Reuters poll (Category: Business)
A historic battle took place in the Kande Uda Rata Rajadhaniya, in the course of one of the many invasions by the Western colonial powers who once occupied what was known as the Maritime Provinces of Lanka, at the site of the ford at Wagolla village, a crossing point of the Mahaweli river on one ...
- The Kandy vs. Navy rivalry to reach tipping point today (Category: Business)
- Vintage cars beauties to behold (Category: Business)
- Clifford cup stays in Kandy (Category: Business)
Given first half performance, believes several 2012 Roadmap targets will be missed UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday claimed that most of the Central Bank’s 2012 Roadmap targets were likely to be missed, based on below par performance on the external trade front during the first half. ...
- Harsha renews call for swift action against NSB-TFC deal makers (Category: Business)
- Readying for a fight? (Category: Business)
- Central Bank emphatic dollars are coming (Category: Business)
- Imports swell, exports lose steam (Category: Business)
By Shanuka Tissera Leading bankers were given the opportunity to discuss the method of approvals of OPIC funding and political risk insurance, facilitated by the International Executive Service Corps (IESC) and the American Chamber of Commerce Sri Lanka (AMCHAM) for US equity sponsored projects. The keynote address was delivered by the Governor of the Central ...
- Lion leads frontier markets (Category: Business)
- Commercial Leasing and Finance maintains impressive growth in profits (Category: Business)
- AmCham to promote fixed rate, low cost financing from USA (Category: Business)
- AmCham partners with ISEL to bring in US investment to Sri Lanka (Category: Business)
Good governance activist and former Ceylon Chamber of Commerce Chairman Chandra Jayaratne has called for an Ethics Guide for Public Service. This suggestion has been shared with several professional organisations such as the Organisation of Professional Associations, Sri Lanka Economic Association, the Institute of Chartered Accountants of Sri Lanka, Ceylon Chamber of Commerce, and Bankers ...
- COPE: Exposure and beyond (Category: Business)
- A Budget for all! (Category: Business)
- Sri Lanka’s growth world’s fourth best! (Category: Business)
- SEC succumbs! (Category: Business)
Reuters: Asian shares retreated from a two-week high on Friday as investors scaled back their expectations of strong stimulus from the US Federal Reserve and fretted about economic growth after manufacturing surveys from the euro zone and China depicted a bleak outlook. Senior Fed official James Bullard said US data had been somewhat better since ...
- Asian markets cheered by Fed rate outlook (Category: Business)
- Asian shares up after Fed minutes, China weighs (Category: Business)
- Asian shares extend gains on stimulus hopes, euro capped (Category: Business)
- Stocks firm, dollar languishes after QE3 stimulus (Category: Business)
Reuters: China’s factories contracted in August the most in nine months according to a survey showing falling export orders and rising inventories, signs that more policy action is probably needed to stop a slowdown in economic growth now in a seventh quarter. The HSBC Flash China manufacturing purchasing managers index (PMI) fell to 47.8 in ...
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- China manufacturing shrinks for 11th month (Category: Business)
- China May factory activity turns down – HSBC Flash PMI (Category: Business)
- China factory sector shrinks most in 32 months (Category: Business)
Reuters: About one million Indian bank employees began a two-day strike on Wednesday to protest against reforms that could ease mergers rules and allow more private capital into the sector, hitting banking transactions and some market trading operations. The strike, involving mainly the staff of state-run banks that make up around 70% of the sector, ...
- Crisis brewing in plantation sector (Category: Breaking News)
- Nurses in Sri Lanka also strike work today to win demands (Category: Breaking News)
- Unions say estates paralysed by token strike (Category: Breaking News)
- Estate sector employees of Sri Lanka to commence agitating against price hikes (Category: Breaking News)
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