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BRUSSELS (Reuters): Euro zone economic sentiment defied expectations of stabilisation and again fell sharply in September, underlining the economic gloom brought on by the sovereign debt crisis as the euro zone sinks into a recession. The European Commission’s monthly economic sentiment survey showed the index for the 17 countries sharing the euro falling to 85 ...
- Asian markets firmer as focus turns to FOMC from Greece (Category: Business)
- German Ifo business morale rises unexpectedly (Category: Business)
- Euro zone fears rattle global markets (Category: Business)
- Oil up despite weak Europe data (Category: Business)
Reuters: The Central Bank lowered its 2012 economic growth estimate to 6.8% from an earlier 7.2%, blaming the drought for the second downward revision this year, Governor Ajith Nivard Cabraal said on Thursday. “Right now our view is there will be reduction in growth from the earlier estimated 7.2%. Drought has been a factor and ...
- Job Growth (Category: Business)
- Steel Demand (Category: Business)
- Export Outlook (Category: Business)
- Economic growth 5% with double-digit inflation, warns think tank (Category: Breaking News)
Reuters: China severely underestimated this year’s global economic slowdown and further cuts to Chinese interest rates or bank reserve requirements hinge on any new deterioration in the external environment, a central bank adviser said on Thursday. Chen Yulu, a professor at China’s Renmin University and an academic adviser to the monetary policy committee of the ...
- WB cuts China growth forecast to 8.2% (Category: Business)
- No new China stimulus, says former Deputy Central Banker (Category: Business)
- China 2Q GDP growth may dip below 7% (Category: Business)
- China Aug trade surplus dips, exports off peak (Category: Business)
Countries have achieved sustained growth and development by adopting a range of approaches. Successful outcomes have come from policies varying from state capitalism to those based on market-driven private sector-oriented models. A high premium needs to be attached to the pursuit of pragmatic policies that are appropriate for country-specific conditions at a given point in ...
- More private sector investments key for higher growth – ADB (Category: Business)
- Government and UNDP map out SDG investment for private sector to support recovery (Category: Breaking News)
- Plug the leaks (Category: Business)
- Govt. on right course, private sector must adapt and grow: Dr. P.B. (Category: Business)
The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
- Accelerating inclusive growth: The role of the external sector (Category: Business)
- Sri Lanka to revive FTA talks with India, China and Thailand (Category: Breaking News)
- Is Sri Lanka geared for globalisation? (Category: Business)
- EDB turns 33 (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)
The Commercial hub of the island, Colombo has recently drawn a great deal of positive attention from Standard Chartered. The bank’s regional teams, impressed with Sri Lanka’s recent economic progress and development in business, have recognised the city as an ideal venue to host global conferences. In the next few months the local branch office ...
- Standard Chartered Wins FT/IFC Sustainable Global Bank of the Year Award (Category: Business)
- Standard Chartered kicks off ‘Go Forward’ with Liverpool Football Club (Category: Business)
- Standard Chartered sponsors Colombo Art Biennale (Category: Business)
- StanChart eyes $ 3 b Singapore revenue in three years (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)
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison
- SCB checkmates cameo CB! (Category: Business)
- Value investors enter as speculators exit (Category: Business)
- Growth to slow down in 2012 –Central Bank (Category: Breaking News)
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
- 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)
Reuters: Asian shares edged lower on Tuesday after Germany’s business confidence fell in September for a fifth consecutive month and Caterpillar Inc (CAT.N), the world’s largest earth moving equipment maker, cut its earnings forecast, underscoring worries about slowing global growth. Uncertainty about the bailout prospects for Greece and Spain, as the euro zone’s three-year-long ...
- Asian markets cheered by Fed rate outlook (Category: Business)
- Shares, euro dip on Europe; French bond auction eyed (Category: Business)
- Euro zone fears rattle global markets (Category: Business)
- Asian shares at 3-month high after China inflation (Category: Business)
Reuters: Riskier assets fell broadly on Monday, dragging down Asian shares, copper and oil but the dollar strengthened as investors shifted their focus to weak economic fundamentals while monitoring progress in the euro zone debt bailout scheme. The MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7%, with a 1.5% drop in its materials ...
- Rupee weaker on importer dollar demand (Category: Business)
- Asian shares fall, dollar spikes vs yen on intervention (Category: Business)
- Stocks slip on profit-taking ahead of SEC ruling (Category: Business)
- Asian shares fall on fears over Europe fund tightness (Category: Business)
LONDON (Reuters): Britain’s budget deficit widened to the biggest on record for any August, data showed on Friday, a day after the central bank chief said missing its debt goal was acceptable for the government. Public sector net borrowing excluding financial sector interventions rose to 14.410 billion pounds from 14.365 billion in August 2011 as ...
- UK’s Green Bank to lend to wind, waste energy (Category: Business)
- Britain’s top rating may yet survive (Category: Business)
- Financing of 2011 Budget goes haywire (Category: Business)
- Euro zone crisis heads for September crunch (Category: Business)
In clear signs that Sri Lanka’s trade with India is set to grow further and recent noise about Sri Lanka in Tamil Nadu has almost no impact on the surging Business-to-Business (B2B) linkages, a 45-member strong biz delegation led by S. Rethinavelu, Senior President of the Tamil Nadu Chamber of Commerce and Industries (TCCI) is ...
- Coast Guard stand on TN fisherman ‘outrageous’: Jayalalitha (Category: Breaking News)
- Passenger ferry service between TN and Sri Lanka likely from October (Category: Breaking News)
- TN Chamber of Commerce concerned over attack on Sri Lankans (Category: Breaking News)
- TN Chamber of Commerce concerned over attack on Sri Lankans (Category: Breaking News)
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)
LONDON (Reuters): Shares rose on Wednesday and the yen fell to a one-month low after the Bank of Japan eased monetary policy, the latest central bank to offer stimulus to help the global economy find a firmer footing. The BOJ said it would increase its asset buying and loan programme, currently
- Peoples Bank Nonperforming loans Rs. 54 billion in 2021 (Category: Breaking News)
- Zimbabwe to introduce gold coins as local currency tumbles (Category: Breaking News)
- CBSL maintain interest rates for fourth month straight (Category: Breaking News)
- Union Bank launches unique three-month FD (Category: Business)
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- CB seen keeping rates steady for fifth straight month (Category: Business)
- Sri Lanka to grow at 7.2% (Category: Business)
- CB banks on policy changes (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)
‘Echelon,’ a new business magazine, covering the islands most dynamic companies, their leaders, the economy and lifestyle in unparalleled depth, is now widely available at bookstores and supermarkets. Echelon’s publisher Capital Media, has brought
- Lanka Courier magazine launches (Category: Breaking News)
- These are the 4 finalists for Time magazine’s ‘Person of the Year’ (Category: USA, New York)
- These are the 4 finalists for Time magazine’s ‘Person of the Year’ (Category: USA, New York)
The exchange of goods and services has been around for as long as civilisations themselves, if not longer. Humans, being extremely adaptive to their environments, have always found ways to utilise resources and build surplus. This surplus was then used to trade in order to obtain resources and goods that weren’t abundantly available. Evolution of ...
- Dialog empowers 7.5m with mobile money transactions (Category: Business)
- ComBank records highest growth in ‘Inter-Bank Electronic’ payments (Category: Business)
- Banking foresight – Shaping integrated development (Category: Business)
SINGAPORE (Reuters): Brent crude slipped under $114 a barrel on Tuesday, adding to steep losses in the previous session, as investors weighed the impact of the Federal Reserve’s open ended stimulus push on oil demand and eyed China’s next step to boost its economy. Brent crude fell
- Brent oil set to end yr up 14%, record high average (Category: Business)
- Brent crude up for eighth day near $ 117; economic risks may cap rise (Category: Business)
- Brent slips to $102 on worries about euro zone economy (Category: Business)
- Oil falls towards $105, economy jitters return (Category: Business)
Reuters: British inflation ticked down in August despite a rise in oil and fuel costs, providing the Bank of England with more leeway to inject additional cash into the fragile economy. The Office for National Statistics said on Tuesday that consumer price inflation slowed to 2.5 per cent
- Inflation edges down as month-to-month prices rise (Category: Canada, Ontario)
- Inflation drops further in July (Category: Breaking News)
- Inflation slips on food prices (Category: Business)
- September annual inflation eases to eight-month low (Category: Business)
Tightening brakes on growth, Government data released yesterday showed the country has slowed to a two-and-a-half-year low, slipping from 7.9% in the first quarter to 6.4 % in the second when compared with the same period last year. A Reuters report noted that economic growth eased to 6.4 per cent in the second quarter ...
- Growth is better than expected – CB (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- Economy ecstatic! (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
SINGAPORE (Reuters): Asian stocks touched their highest in more than four months on Monday and gold, oil and copper hovered near multi-month highs, after rallying late last week on hopes that fresh stimulus from the world’s top central banks will support flagging growth. The dollar languished near its lowest in seven months, as the aggressive ...
- State liquor sales pick up in July (Category: USA, Washington)
- T-bills hit 16-month high (Category: Business)
- Euro zone Oct inflation at 3 pct despite cooler growth (Category: Business)
- Dollar softer, but euro fails get a boost (Category: Business)
The Government has gazetted a Bill, on 27 July 2012, to set up a Divi Neguma Department, which will take over the existing Samurdhi Authority, the Southern Development Authority and the Udarata Development Authority (successor to the Kandyan Peasantry Commission). The Bill will also set up a Divi Neguma Community Based Organisation, Divi Neguma Community ...
- Regulation of microfinance institutions (Category: Business)
- Unregulated microfinance - A high-risk strategy (Category: Business)
- New department to drive ‘Divi Neguma’ (Category: Business)
- Finance: Restrictions on use of the word (Category: Business)
By Cheranka Mendis The European Union has injected Euro 60 million (around Rs. 10 billion) in a four-year Support to District Development Program (SDDP) that was initiated in June this year, to support four war affected districts of the country. EU Sri Lanka Delegation Head of Operations Willy Vandenberge yesterday told the Daily FT that ...
- Sri Lanka ranks high in 'medium' human development (Category: Breaking News)
- SLINTEC enters strategic technology development agreement with NFCL, India (Category: Business)
- From science to commercialisation (Category: Business)
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
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
- Asian shares inch down, mark time before Jackson Hole (Category: Business)
- All eyes on Bernanke as recession looms (Category: Business)
- Adopt economic policies to propel growth: Bankers (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
- 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)
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