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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 ...
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 ...
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 ...
The Tourism Authority of Thailand has unveiled a series of strategies designed to maintain, enhance and promote Thailand’s brand image, marketing profile and visitor arrivals. TAT has set a 2013 target of 22.22 million international visitor arrivals, generating estimated foreign exchange revenues of 966 billion Baht (US$ 30.62 billion, based on the exchange rate of ...
UNCTAD released its World Investment Report 2012 recently. The report indicated that for the first time since 2007, global FDI inflows increased by 16% despite the continuing effects of the global and financial economic crisis. However, UNCTAD predicts the FDI growth rates to decline in 2012 due
Reuters: Investors are criss-crossing the increasingly smudged line between emerging and developed markets as the euro zone crisis challenges traditional perceptions of a safe investment. This blurring of distinctions was illustrated last month by index compiler MSCI’s surprise decision
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
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 $456 billion to help protect countries from fallout
The global financial crisis of 2008/09 has not sent migrant workers streaming back home, despite worsening employment prospects and anti-immigration rhetoric in some destination countries, says a new book on migration and remittances, published by the World Bank last week. In fact, migrants
FRANKFURT (Reuters): Deutsche Bank’s new leaders said on Friday they intended Germany’s flagship lender to be among the world’s top global banks as the sector consolidates. Speaking to staff on his first day as Co-Chief Executive, Anshu Jain took a swipe at Swiss and French competitors by saying Deutsche would likely be the only “truly ...
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
Reuters: Iranian President Mahmoud Ahmadinejad will visit China in June for a security summit and discuss his country’s disputed nuclear program with Chinese President Hu Jintao, a senior diplomat said on Wednesday, criticising new sanctions aimed at Iran. Ahmadinejad will be attending the Shanghai Cooperation Organisation (SCO) meeting hosted by Beijing in June, China’s Vice ...
Reuters: Fresh from a big victory in raising $430 billion for the International Monetary Fund, Christine Lagarde’s tougher test as head of the global lender will be finding a way to give emerging economies more influence. To do this, the former French finance minister will need to convince the Fund’s dominant powers – the United ...
to reduce vulnerabilities, risks of a renewed upsurge of the crisis ...
By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...
By Amantha Perera IPS: As the UN Human Rights Council (UNHRC) voted in, Thursday, a resolution asking Colombo to act on recommendations made by its own Lessons Learnt and Reconciliation Commission (LLRC), Buddhist prayers reverberated through the Sri Lankan capital. “It is a resolution that encourages Sri Lanka to implement the recommendations of its own ...
Thousands of women in the apparel industry deserve respect for being partners in Sri Lanka’s highest foreign exchange earning sector By Uditha Jayasinghe Sri Lanka’s apparel industry clothes the world and earns the largest amount of foreign exchange but is struggling to retain its workforce as an estimated 30,000 vacancies remain open in hundreds of ...
Benito Mussolini, the fascist ruler of Italy, during World War II, said that his brand of fascism ‘should be more appropriately called Corporatism, because it is a merger of state and corporate power’. Compare this with the dictionary definition of capitalism: ‘A system in which a country’s business and industry are controlled and run for ...
Reuters: Global trade rules for finance, telecommunications and other service sectors have failed to keep pace with changes in technology and are “modest and flimsy” compared with trade rules for manufactured goods, said a report released on Friday. “Services trade policy reform can be both a basis for long-term growth and a way to bolster ...
Nearly half (48%) of the 1,258 CEOs polled worldwide believe the global economy will decline even further in the next 12 months, according to PwC’s 15th Annual Global CEO Survey. Just 15% said the global economy will improve during 2012. However, nearly three times as many CEOs are confident in their own companies’ growth prospects ...
Reuters: China will continue to invest in euro zone government debt, the country’s central bank governor said on Wednesday, while calling on Europeans to produce more attractive investment products for China. Zhou Xiaochuan admitted that China and other emerging nations like Brazil, Russia or India were waiting for the right time to help the bloc, ...
Following are some responses from three economists to the guest column by Chandra Jayaratne titled ‘Important issues’ for Sri Lankan legislators, the Executive, policymakers, Central Bankers, economists and thought leaders to ponder over published on 2 February 1) I disagree with the Stiglitz-Krugman line. My diagnosis is that Europe is in this mess for two ...
Reuters: The International Monetary Fund is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis, but the United States and other countries are throwing up roadblocks. The United States and Canada
MOSCOW (AFP): Russia’s growth ticked up to 4.2 percent in 2011 from 4.0 percent in 2010, making it one of the three best-performing major economies in the world, Prime Minister Vladimir Putin said Thursday. “Russia is in third place among the major economies of the world, behind only China and India,” said Putin who also ...
The Top 100 Nation Brands have been ranked by Brand Finance plc with the USA, Germany and China topping the report Eurozone crisis affects the Nation Brand vales of Greece, Ireland and Japan who are ranked as the Top 3 biggest Losers Further chaos in Europe has seen the brand values of Spain
GENEVA (Reuters): The 153 members of the World Trade Organization agree on two things: We’re in a hole. And we must keep digging. The hole is the Doha Development Round, a decade-old negotiation that was billed as the next stage of trade liberalisation after the creation of the WTO itself. After repeated failures to clinch ...
10 events and trends that were overlooked this year, but may be leading the headlines in 2012 Foreignpolicy.com: What events and trends flew under the radar in 2011 but could erupt into massive headline-grabbers in 2012? Foreign Policy rounds up the top 10 “stories you missed” this year. 1. India’s military buildup China’s new aircraft ...
with Afghanistan has complicated U.S. attempts to ease a crisis in relations with Islamabad and ...
PM’s and United Russia’s ratings falling Putin draws parallels with turmoil in Europe Says parliament majority needed to deal with crisis NOVO-OGARYOVO, Russia (Reuters): Vladimir Putin said on Thursday that if his party lost dominance of parliament in the Dec. 4 election, as a poll
BANGKOK (Reuters): Thailand’s worst floods in 50 years have hit tourism at the start of the high season, but the country has recovered quickly in the recent past from all sorts of scourges and some tour operators are hopeful a recovery might start next month. Floodwater in some areas of the capital, Bangkok, and other ...