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Reuters: Manufacturing in China contracted for the 11th month in a row in September, according to a private sector survey of factory managers that indicated the world’s second largest economy remains on track for a seventh quarter of slowing growth. The HSBC Flash China manufacturing purchasing managers’ index (PMI) showed activity stabilized in September after ...
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...
Reuters: The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the US economy each month until it saw a sustained upturn in the weak jobs market. The central bank’s decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a ...
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 ...
Reuters: Asian shares crept up on Monday with expectations rising that weak U.S. jobs data would prompt the Federal Reserve to announce fresh stimulus and Europe will make further progress in its debt crisis management this week, overshadowing soft Chinese data. Trade data released on Monday
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 ...
Developed economies heading towards a recession The global economy started off the second half of 2012 with a whimper as the latest data confirm that growth is faltering across all regions. Europe is clearly in the midst of an intensifying contraction, US consumers and businesses are pulling back in the face of increasing uncertainty, and ...
Reuters: Shares rose on Tuesday as investors held on to hopes the European Central Bank can trim borrowing costs and help restore confidence in the euro bloc, even as officials denied a report about the shape of its planned bond buying strategy. But most other assets – from the euro to oil and gold – ...
WASHINGTON (Reuters): A trend measure of Americans signing up for new jobless benefits fell close to a four-year low last week, but weakness in a regional factory gauge showed US recovery still faces an uphill climb. Other data on Thursday gave mixed signals about the strength of an incipient housing recovery, with groundbreaking on new ...
Reuters: Asian shares inched higher on Thursday but gains were limited as investors waited for more clues over the timing and extent of any further stimulus to tackle the euro zone’s debt crisis and support global growth. Strong U.S. industry output report on Wednesday, which followed
Shares thoughts on sustainability in volatility and the way forward The Guest of Honour, Dato’ Charon, President and Members of the Professional Bankers’ Association, my dear friends, first of all, let me thank the Association of Professional Bankers for inviting me this evening to your 24th Convention and giving me the opportunity to share a ...
PARIS/LONDON (Reuters): Leading members of the Group of 20 nations are prepared to trigger an emergency meeting to address soaring grain prices caused by the worst US drought in more than half a century and poor crops from the Black Sea bread basket. France, the United States and G20 president Mexico will hold a conference ...
Reuters: The euro zone’s debt-ravaged economy shrank in the second quarter, having flatlined in the first, despite continued German growth which economists said could soon be snuffed out. The 17-nation currency bloc contracted by 0.2% on the quarter, data showed on Tuesday. Germany eked out growth of 0.3%, marginally beating forecasts, but its forward-looking ZEW ...
By Chamitha Kuruppu The Janatha Vimukthi Peramuna (JVP) on Wednesday stated that the time has come for the public to “stand against the irresponsible decisions and unwise acts of the Finance Minister and the Central Bank Governor that leads this country into an economic downfall.” President Mahinda Rajapakse as the Minister of Finance and Central ...
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 ...
Reuters: Asian shares and the euro fell on Friday as investors shunned risk after the European Central Bank took no immediate action and only hinted at future steps to tackle the euro zone’s fiscal woes, following similar inaction from the U.S. Federal Reserve. Investors also have reasons to be more cautious ahead of a key ...
Reuters: China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund said in a report on Wednesday that urged further reform and currency appreciation to rebalance growth and reduce risks. The report said economic reforms so far had substantially reduced external imbalances, but at the cost of significant ...
Reuters: Asian shares slid and the euro hovered near multi-year lows hit earlier on Monday, as Spain sparked concerns about its ability to stave off a sovereign bailout after two indebted regions sought financial assistance from the central government. Fears the euro zone’s fourth largest economy will be forced to follow Greece, Portugal and Ireland ...
Reuters: Asian shares extended their rally on Monday as fears of an economic hard landing in China subsided, with last week’s softer growth data within expectations and Premier Wen Jiabao on Sunday raising the prospects of more policy stimulus if needed. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.3 percent after jumping ...
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: 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 ...
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 ...
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 ...
Reuters: Asian shares jumped and the euro surged more than 1 percent on Friday after European leaders agreed that euro zone banks could be recapitalised without adding to government debt, soothing fears over growing credit strains in Italy and Spain. As the dollar retreated on the back of the euro’s sharp rebound, dollar-based oil, copper ...
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
Reuters: The U.S. Federal Reserve on Wednesday delivered another round of monetary stimulus and said it was ready to do even more to help an increasingly fragile U.S. economic recovery. The central bank expanded its “Operation Twist” by $267 billion, meaning it will sell that amount of short-term securities to buy longer-term ones to keep ...
Reuters: Brent crude steadied around $96 a barrel on Tuesday, staying close to 16-month lows hit in the prior session, as Spain’s rising borrowing cost showed Europe is nowhere near resolving its debt crisis that has hurt the outlook for fuel demand. Oil, along with other commodities, fell
The global financial crisis of 2008/09 has not sent migrant workers streaming back home, despite worsening employment prospects and anti-immigration rhetoric in some destination countries, says a new book on migration and remittances, published by the World Bank last week. In fact, migrants
Reuters: Authorities in the world’s major economies are preparing for a possible market storm or public panic after cliffhanger Greek elections this weekend, officials said on Thursday, should radical leftists win and cast doubt on the nation’s future in the euro zone . Britain announced on Thursday it would flood its banking system with cash ...
RIO+20 is the next focus point for the world and as President Mahinda Rajapaksa takes Sri Lanka’s concerns to this international forum, it is perhaps time for a larger discussion on its importance to a developing country as well as the world at large. Twenty years ago, it was mostly people who were displaced by ...