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NEW DELHI: On his first visit abroad as Maldivian President, Mohammed Waheed on Saturday met Prime Minister Manmohan Singh and briefed him about the situation in his country expressing “strong commitment” to democracy and early elections. President Waheed, whose visit follows that of his predecessor Mohammed Nasheed, also explained to the PM the issues related ...
- Maldives President on a state visit to Sri Lanka (Category: Breaking News)
- Maldives President on a state visit to Sri Lanka (Category: Breaking News)
- Maldives' VP Hassan takes oath as president (Category: Breaking News)
- Govt. has noted Nasheed’s resignation and VP’s appointment (Category: Breaking News)
Reuters: Asian shares fell on Monday after weekend talks to form a new Greek government failed and China’s latest move to loosen monetary policy highlighted concerns its economy is faltering, prompting investors to further trim their exposure to risk. MSCI’s broadest index of Asia-Pacific shares outside Japan fell as much as 0.6 percent to its ...
- Asian shares fall, dollar spikes vs yen on intervention (Category: Business)
- Asian shares fall on sluggish US jobs, focus on more data (Category: Business)
- Growth worries hit Asian shares (Category: Business)
- Asia shares, growth assets hit by economy worries (Category: Business)
Planned divestiture of subsidiary – the sole private savings bank in the country – not advertised Deal with in-out-and-in Navara Capital under fire as Rs. 562 m strike price falls below Board recommendation Analysts label deal price as “cheap” when CB is unlikely to be generous in issuing new Specialised Bank licences in the future ...
- Shareholders furious over lack of disclosure, sale plan of MBSL’s savings subsidiary (Category: Business)
- Navara-led consortium to buy 68% of MBSL Savings Bank for Rs. 562 m (Category: Business)
- MBSL says savings subsidiary sale will result in a profit of Rs. 325 m (Category: Business)
- Double-edged deal (Category: Business)
REUTERS: JPMorgan Chase and Co said last week that it suffered a trading loss of at least $2 billion from a failed hedging strategy, a surprise disclosure that hit financial stocks and the reputation of the bank and its prominent CEO, Jamie Dimon. For a bank viewed as a strong risk manager that never reported ...
- JPMorgan likely to post $4 b to $6 b trade loss (Category: Business)
- JPMorgan CIO retires, Obama says proves reform case (Category: Business)
- Obama has assets in JPMorgan accounts: White House (Category: Business)
- BofA mulls more asset sales to boost capital (Category: Business)
SRI LANKA has ambitious goals for development and needs investment to push up growth to the expected levels of eight per cent or more. Even though the country has fared well in 2010 and 2011 by posting eight per cent and 8.3 per cent growth consecutively for the first time in history, there is increasing ...
- 7,000 vacancies in Sri Lanka's export zones (Category: Breaking News)
- Laid off BOI company workers still not paid compensation (Category: Business)
- Sri Lanka manufactures garment to M&S and Tesco (Category: Business)
- BOI approves 6 new ventures in SL (Category: Breaking News)
Reuters: A Ukrainian women’s rights activist stripped to the waist and seized the Euro-2012 soccer trophy while it was on public display in Kiev on Saturday in a protest against the forthcoming month-long championship. The young woman, 23-year-old Yulia Kovpachik, is a member of the Kiev-based Femen women’s rights group which believes the Euro-2012 soccer ...
- Ronaldo puts spark into Portugal and tournament (Category: Business)
- New Euro 2012 ball faster than Jabulani, Adidas CEO says (Category: Business)
- Indian embassy targeted by topless activists (Category: Breaking News)
- Italy’s ‘Gerrard’ hopes to explode against England (Category: Business)
The world’s leading coconut shell-based activated carbon manufacturer and exporter, Haycarb PLC has sustained performance in the fourth quarter of 2011-12, despite challenging external conditions and rising production costs, to end the year on a positive note. According to interim statements filed with the Colombo Stock Exchange, volume increases and continued focus on value added ...
- Haycarb posts 1Q net profit of Rs. 217 m (Category: Business)
- Haycarb expands activated carbon biz with Thailand JV buying new unit for Rs. 500 m (Category: Business)
- Haycarb’s 9 month sales Rs 5.9 billion, PBT Rs. 535 million (Category: Business)
By Cassandra Mascarenhas The pace of activity in the construction industry has slowed down due to constraints caused by the high cost of finance fuelled by the rise in interest rates, the devaluation of the rupee that have resulted in imports being more expensive and the lack of FDIs coming into the industry, stated Chamber ...
- Vocation Worry (Category: Business)
- Cash Crisis (Category: Business)
- Work Share (Category: Business)
- Industry gears up for ‘Construction Expo 2012’ (Category: Business)
BEIJING (Reuters): China’s economy stuttered unexpectedly in April with lower than expected output data, softening retail sales and easing prices suggesting economic headwinds might be stiffer than thought, requiring more robust policy responses to counter them. Industrial output expanded at its slowest annual pace in nearly three years, while fixed asset investment growth dipped to ...
- China 2Q GDP growth may dip below 7% (Category: Business)
- China factory sector shrinks most in 32 months (Category: Business)
- India’s March industrial output falls (Category: Business)
- Asia factory output weak; India defies with rise (Category: Business)
LONDON (Reuters): Political disarray in Greece and fresh fears about Spain’s banks have triggered a scramble for the world’s lowest-risk government bonds, with investors willing to accept returns of next to nothing in exchange for shelter from the euro zone storm. Borrowing costs for Germany, Britain, the United States and Japan have tumbled to record ...
- European stocks rise ahead of ECB meeting (Category: Business)
- Global stocks, euro ease on debt talk caution (Category: Business)
- Global stocks retreat after Swiss move; euro jumps (Category: Business)
- World stocks retreat as debt worries, economy outlook weigh (Category: Business)
DUBAI, UAE: The Emirates Group has today announced its 24th consecutive year of profit and companywide growth amidst unprecedented economic pressure and record high fuel prices. Released today in the Group’s 2011-12 Annual Report the company posted a AED 2.3 billion (US$ 629 million) net profit, with dnata marking its highest ever profit in 52 ...
- Emirates receives 1,000th Boeing 777 (Category: Business)
- Cargo slump threatens more pain for Boeing 747-8 (Category: Business)
- Spotlight turns to output as Boeing wins show (Category: Business)
- Emirates’ $18 b blockbuster Boeing order kicks off air show (Category: Business)
MANILA (Reuters): China warned its citizens in Manila to stay off the streets and take precautions during planned anti-Chinese protests on Friday, a sign of mounting tensions during a standoff in the resource-rich South China Sea. The planned protest of about 1,000 people could heighten tensions between China and the Philippines over what is known ...
- China, Japan, South Korea to boost investment in each others’ bonds (Category: Business)
- Obama’s Asia “pivot” advances, but obstacles await (Category: Business)
- China top military paper warns of armed confrontation over seas (Category: Business)
- PATA Mart returns to the Philippines (Category: Business)
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
- Economic management and the way forward (Category: Business)
- Govt. to consider tightening laws on white collar crimes (Category: Business)
- NSB-TFC deal’s stench spreads! (Category: Business)
- Wijetilleke backs calls for tough action on NSB-TFC deal (Category: Business)
Warns that countries need tough policy changes to stimulate waning growth By Cheranka Mendis Asia Pacific faces another year of tough policy changes to stimulate growth, with Sri Lanka in particular having to manage monetary policy, control inflation, provide jobs for youth and reduce high inequality, it was revealed in a report released yesterday. The ...
- WB cuts China growth forecast to 8.2% (Category: Business)
- Challenging times for Asia Pacific (Category: Business)
- World Bank projects global slowdown, with developing countries impacted (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
It is very tragic that Sri Lanka may lose the confidence of the business world both locally and internationally courtesy of the Government-appointed nominees of the State. I like to highlight just two such incidents with no bias. The first was the rundown of foreign reserves. The Central Bank went on saying there is no ...
ISMM President Danesha Perera and Senior Delegate and Past President Gerry Hidelaratchi attended the International Federation of Purchasing and Supply Management (IFPSM) Asia Pacific Council Meeting in Manila, Philippines on 22 and 23 April. The Asia Pacific Council Meeting was organised by the Purchasing Institute Supply Management (PISM) in Philippines under the guidance of the ...
- ISMM delegation attends IFPSM World Summit in Sweden (Category: Business)
- Asitha Perera elected Chairperson of The Asia Group – FAO (Category: Business)
- Danesha Perera re-elected as ISMM President (Category: Business)
TOKYO (Reuters): Global shares, precious metals and oil fell and the euro remained pressured on Wednesday as Greece struggled to form a government after an election that saw incumbent parties punished, heightening the risk that a hard-won bailout deal could be scrapped. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 1.4 per cent to ...
- No risk of asset prices bubble in Bourse – CB (Category: Business)
- SEC considers 10% minimum float rule (Category: Business)
- Bourse at 3-week low, Rupee falls (Category: Business)
- Asian shares extend gains on stimulus hopes, euro capped (Category: Business)
REC yesterday announced that its industry leading solar modules have been selected by BAM Green, a leader in developing and providing renewable energy related services in Sri Lanka. Under the agreement, REC will supply its industry leading REC Peak Energy Series modules to BAM Green. REC solar modules were ranked first with the highest performance ...
- BAM GREEN Selects REC Solar In Sri Lanka (Category: Business)
- Sri Lanka targets slashing industrial power use by 10% (Category: Business)
- Carbon Trust: Renewable energy offers 12 per cent returns for businesses (Category: Business)
Sri Lanka may miss its 2012 growth targets due to issues in the Eurozone and other export challenges, the Central Bank Governor said yesterday. Over 60 per cent of Sri Lanka’s exports, primarily garments, are to the US and Europe, which could have a detrimental effect on projected growth of 7.2 per cent, Central Bank ...
- US-EU slowdown to affect Lanka (Category: Breaking News)
- Growth gloom (Category: Business)
- Sri Lanka’s economy records an impressive growth (Category: Breaking News)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
The IMF’s recently released Asia and Pacific Regional Economic Outlook (REO) shows the region continuing to lead global growth and expected to gain momentum over the course of 2012. This forecast, however, remains subject to downside risks related to the global economy, including the possibilities of a sharp fall in exports to advanced economies and ...
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Sri Lanka’s GDP growth set to outpace peer economies: Asia Wealth (Category: Business)
- Eurozone crisis dampening developing Asia’s growth prospects, warns ADB (Category: Business)
The Central Bank on Friday said earnings from exports increased by 7.6% to $ 879 million in February 2012 while expenditure on imports increased by 27.9% to $ 1,581 million over the corresponding month of the previous year. The largest contribution to export earnings in February 2012 was from industrial exports. Industrial exports grew by ...
- Sri Lanka’s trade deficit widens by 67.5% in February (Category: Breaking News)
- Imports lose steam; exports fall by 10% (Category: Business)
- 2012 starts with near $ 1 b trade deficit (Category: Business)
- Trade deficit narrows (Category: Business)
Experts and analysts insist savings giant as a custodial bank must pay up and resolve internal issues separately without compromising integrity stability and confidence of market Popular settlement banker Sampath with Rs. 390 m overdrawn from CDS following payment on TFC deal stalls operations on Friday, causing chaos for brokers and clients of other deals; ...
- NSB’s custodial role suspended, Sampath clears Friday settlements (Category: Business)
- TFC buy against NSB Act: Legal experts (Category: Business)
- NSB-TFC deal’s stench spreads! (Category: Business)
n The Scholar who has refused to changeHumanistic approach Dr. Gunadasa Amarasekera, scholar, writer, poet, novelist, social activist and many more, in a special contribution to Professor Buddhadasa Hewavitharana Felicitation Volume Two released last month, has tried to analyse the most recent history of Sri Lanka in the context of the onset of the process ...
- Globalisation: The challenges (Category: Business)
- Crisis lies in not knowing what higher education is! (Category: Business)
- UNCTAD should address challenges faced by developing world (Category: Business)
- Impunity: Unequal before the law (Category: Business)
Reuters: Greeks angry at years of austerity shrugged off the risk of a euro zone exit and punished their ruling parties, which failed to win enough votes to form a ruling coalition in Sunday’s election. With about 95 per cent of the vote counted, conservative New Democracy and Socialist PASOK, who have dominated Greece for ...
- Greeks seek better terms after Spanish rescue (Category: Business)
- Relief as pro-bailout parties win Greek poll (Category: Business)
- Greek Cabinet formally approves bailout deal (Category: Business)
- Euro zone crisis heads for September crunch (Category: Business)
By Dr. Laksiri Fernando Asian Tribune: I am here not talking about Karen Connelly’s popular love story by the name of ‘Burmese Lessons,’ but rather Aung San Suu Kyi’s entry into Parliament as the Leader of the Opposition in Myanmar (or Burma) with 42 other members who were elected early April in a by-election from ...
- ‘Burmese Lessons’ for Sri Lanka (Category: Breaking News)
- Myanmar: South Asia’s other ‘Small Miracle’? (Category: Business)
- It breaks my heart to see the Indian Prime Minister pose cordially with the butchers of Burma (Category: Breaking News)
- New Myanmar Democracy: Generals In Plain Clothes (Category: Breaking News)
Global crisis must not disrupt the region’s continuing transformation: ADB Report MANILA, PHILIPPINES: While developing Asia must build a firewall against possible escalation of the global financial crisis, it must not veer from long-term structural reforms already underway to further its economic transformation, delegates at the Governors’ Seminar at the 45th Annual Meeting of the ...
- Global financial system risks escalate, says IMF (Category: Business)
- Challenging times for Asia Pacific (Category: Business)
- Interbrand reveals world’s best global brands in 2011 (Category: Business)
- Inclusive, green, knowledge-based growth keys to Asia’s future: ADB Chief (Category: Business)
Reuters: Pro-democracy leader Aung San Suu Kyi took her place in Myanmar’s parliament on Wednesday, ushering in a historic new political era after nearly a quarter-century fight against military dictatorship. The 66-year-old Nobel Peace Prize laureate waded through throngs of foreign and local reporters as she entered parliament in Naypyitaw to join a fragile new ...
- Suu Kyi’s party to end boycott of Myanmar’s Parliament (Category: Business)
- Suu Kyi receives Nobel Peace Prize, 21 years late (Category: Business)
- Myanmar Army seizes power after detaining Aung San Suu Kyi (Category: Breaking News)
- Suu Kyi to make Myanmar parliament debut on April 23 (Category: Business)
Much has been spoken of the Sri Lankan economy by different bodies including the guardians of the economy (the Central Bank and Government Treasury). There is constant backlash to the Government bringing out historical events while portraying a very bleak future, although the Government has taken corrective action to address any major economic catastrophe. The ...
- Fitch affirms SLT at ‘BB-’ (Category: Business)
- Bartleet Finance launches ‘Bilindu’ (Category: Business)
- S&P fires warning on Sri Lankan banking system; ranked along with Nigeria (Category: Business)
Sri Lanka, which was a low-income country (per capita income below $ 2,000) until a few years ago, has now reached lower-middle-income country status ($ 2,840). Of course, while Sri Lanka can be proud of this achievement, middle-income country status requires it to operate within a new paradigm. In the ’80s and to a lesser ...
- Global mobility unaffected by financial crisis (Category: Business)
- A stitch in time saves nine - Facing the short-term economic challenges (Category: Business)
- Appreciating the exchange rate to create prosperity (Category: Business)
Dear Editor, During the past few months, I have observed criticism, mainly by the Opposition Parliamentarians, about the manner in which the Sri Lankan economy has been managed. In my view, their attempts seem to be designed to impose blame on the Governor, Central Bank, perhaps to weaken his resolve and strength and discourage him. ...
- Sri Lanka could miss 7.2% growth target (Category: Business)
- Lankan team for U19 World Cup (Category: Business)
- Toastmasters dazzles at the Semi Annual Conference in Mangalore (Category: Business)
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