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As Sri Lanka-Japan bilateral discourse completes 60 memorable events, Japan has become our seventh largest international trade partner. “The total bilateral trade turnover between the two nations has grown to $ 1,250 m in 2011. Japan, our seventh largest trade partner in 2011, has always been a key trading nation as well as a generous ...
A few weeks ago, based on a proposal made by the Minister for Environment, the Cabinet of Ministers agreed and informed the public that the legal requirement that permits to be obtained for the transport of sand during day as well as in the nights had been discontinued. The action was to reduce the burden ...
Offers $ 43 b in overall deal which will see Fund’s base doubling to $ 456 b Reuters: China on Monday offered $43 billion to the IMF’s crisis-fighting reserves, rounding off a global push to nearly double the Fund’s war chest to $456 billion to help protect countries from fallout from the euro zone debt ...
Market’s value up Rs. 23 b, ASI back again in 5,000-points level The Colombo stock market produced a confident rebound yesterday driven by high net worth investors as well as institutions picking up low valued opportunities. The market’s value rose by Rs. 23 billion, slightly lower than Friday’s gain of Rs. 26 billion. The rise ...
Reuters: Sri Lankan shares ended a tad firmer on Monday in thin trade as late buying in blue chips helped to offset short term profit taking by retail investors earlier in the day, brokers said. The Colombo Stock Exchange’s main index fell 1.1% in early trade, but recouped its losses and closed 0.14% or 6.89 ...
Speaking at a forum organised by KPMG in Sri Lanka for chief financial officers and chief risk officers of banking institutions, KPMG India’s Partner and Head of the Financial Risk Management (FRM) practice, Rohit Bammi emphasised that local banks have the opportunity to further enhance their risk management functions. In his opening remarks, Rohit discussed ...
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 may have mitigated some of the pain of the crisis as they ...
The Oxford Dictionary definition of ‘inept’ is ‘acting or done with no skill’. An ineptitude results is such behaviour being manifested An ‘Inept’ocracy’ has been defined in the Urban Dictionary as ‘a system of government, where the least capable to lead are elected, by the least capable of producing, and where the members of society ...
Political parties supporting Greece’s international bailout begin forging a government on Monday after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro and brought relief to global markets. Conservative New Democracy leader Antonis Samaras called for broad support after winning Sunday’s election over the Syriza party, wh...
All newspapers carried headlines a few days ago stating that May 2012 tourist arrivals have increased by 17.5% from last year. It is reported that the May arrivals of 57,506, was higher than even that of April, which showed only a 9% increase YOY. So far, total arrivals for 2012 up to end May is ...
Reuters: Sri Lankan shares rose on Friday as investors snapped up blue-chip companies, helping the main index recover. The Colombo Stock Exchange’s main index closed 1.4 per cent or 68.19 points firmer to end at 4,991.21, its highest since 25 May. “The market has fallen too much and now it is trying to correct itself,” ...
Reuters: Sri Lanka may need to consider easing monetary policy if trade data for May and June point to significant weakness in global demand for the island’s goods, the Treasury Secretary told Reuters on Thursday. A further export slowdown would put additional pressure on the economy as domestic demand has already shown signs of cooling ...
By Sajjid Z Chinoy and Jahangir Aziz jpmorgan.com: With India’s current account deficit (CAD) reaching unsustainable proportions and the real exchange rate experiencing a sharp depreciation over the last year, one of the critical policy debates in the country currently is whether India can take advantage of the currency weakness and export its way out ...
Reuters: Myanmar's Nobel Peace Prize winner Aung San Suu Kyi halted her news conference in the Swiss capital Bern on Thursday evening after vomiting and excusing herself saying "I'm so sorry". Suu Kyi, 66, who minutes before complained of jet lag and tiredness, had arrived in Geneva late on Wednesday at the start of her ...
Reuters: Sri Lankan stocks jumped 1.6 per cent on Thursday to a more than three-week high on institutional buying of blue-chips stocks like John Keells Holdings PLC in an oversold market after the central bank kept policy rates steady. The Central Bank held the key policy rates unchanged on Wednesday. The main index rose 1.61 ...
Says will never work with President, reiterates need to change political regime, open to discussions with minority parties on LLRC Setting a tense stage, former Army Commander Sarath Fonseka yesterday said that toppling the Government and creating a new political culture was his aim, ruling out any possibility of working with President Mahinda Rajapaksa. Speaking ...
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
Despite the Central Bank’s positive Monetary and External Performance reports this week, the Ceylon Chamber of Commerce (CCC) has called for vigilance in moving forward. Releasing a statement yesterday, the CCC noted that the Government had introduced a package of courageous macroeconomic stabilisation measures in February 2012. “These were necessary to avert the balance of ...
With highest-ever top and bottom line performance premier blue chip JKH says knowing exactly who were are, what we stand for and where we are headed makes all the differenceI am pleased to present the Integrated Annual Report, and the Statement of Accounts, for the Financial Year ended 31 March 2012. The Report encapsulates the ...
We are in the month of June where stirrings of environmental conscience or rumblings of environmental activities are heard and reported. Corporate big guns line up many photo events. Some may be eagerly waiting to get down to business in Rio where the Rio+20 Summit is scheduled to start on 20 June. Hopefully the carbon ...
With the end of the war, there was a desire throughout the country for a peace dividend. Over the 30 years of the conflict, pent-up demand had built up both for consumption and investment expenditure. The authorities were under intense political pressure to create an environment that was conducive to finance imports of consumption goods, ...
This letter is in response to the ‘Letter to the Editor’ by Luxman Siriwardena, which was published in the Daily FT on 8 June titled ‘Dr. PBJ: Protectionism or protecting the unprotected?’I refer to the response by Mr. Luxman Siriwardene of the Pathfinder Foundation to my article against the protectionism suggested by the Secretary to ...
By Cassandra Mascarenhas In a knowledge economy, learning becomes a vital ingredient for power and furthering the need for continuous learning, the Chartered Institute of Chartered Accountants’ annual flagship event, the CIMA Business Leaders Summit 2012 conducted the technical sessions, the second half of its two-day agenda. “Our theme is about power. Power existed even ...
A laudable goal that needs much more workSocial justice to be the Government’s development philosophy The development philosophy of the present Government, as pronounced in the Annual Report of the Ministry of Finance and Planning for 2011 released two weeks ago, is a blend of social justice with economic progress (p 14). This is a ...
Positioned as the new Asian gatewayand one of the fastest growing economies in the world, Sri Lanka’s maritime and logistics initiatives were given another boost from Seatrade’s new launch event. Executives attending the reception at the Colombo Hilton last week were given an informed presentation by Seatrade executives, as to why this timely conference that ...
Asian Age: The emerging Indo-American coalition to help the Sri Lankan Navy opens a new chapter in regional security. The development could also trigger a fresh bout of political anger in Tamil Nadu, where all the prominent parties have been pressing Delhi to get tough with Colombo for not addressing the Tamil question. Interestingly, the ...
Bold measures The Government of Sri Lanka introduced a number of bold macroeconomic stabilisation measures in February/March 2012. These were necessary as the country was on a trajectory to a very destructive balance of payments crisis. It is still too early to determine whether enough has been done to stabilise the balance of payments, particularly ...
TOKYO (Reuters): Asian shares hit one-week highs on Thursday, and commodity prices and the euro firmed, on signs that Europe was dealing urgently with Spain’s banking crisis and that the United States could embark on fresh monetary stimulus. Dovish comments from a senior U.S. Federal Reserve official and strong Australian jobs data cemented the bullish ...
Historically, capital markets have played an important role in the development of market economies and therefore the development of efficient regulation of securities too has become increasingly important. While fostering the development of the economy, the capital markets also play an important equalising role. Viz – it attracts the participation of a large number of ...
A document named ‘Growing Together’ prepared by UNESCAP for the sixty sixth session of ESCAP states that the realisation of what is termed as the ‘Asia Pacific century’ will depend on the region’s ability to harness the potential of regional economic integration. A shared history and culture, complementarities arising from their very different levels of ...