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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
- 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)
Although the Asian region is better prepared for economic turmoil than it was a decade ago, high levels of financial, trade and investment integration with the Western economies ensure that no country is immune to the effects of the Eurozone debt crisis. While most of the European Union
- Sri Lanka is an exciting and resilient business destination (Category: Business)
- Huge gains for South Asian consumers: CUTS (Category: Business)
- Challenging times for Asia Pacific (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (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
- 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)
Reuters: Brent crude oil fell more than $1 per barrel to below $110 on Wednesday, weighed down by a stronger dollar, worries over growth and the euro zone debt crisis as Greece faced its biggest anti-austerity strike for months. Greece’s transport system ground to a halt, shops pulled
- Oil Gush (Category: Business)
- Why is there more oil seed rape being grown? (Category: Technology)
- Shortages: Is 'peak oil' idea dead? (Category: Technology)
- New Mexico increases enforcement of clean-up at oil sites (Category: USA, New Mexico)
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 ...
- 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: Plans to create a European banking union risks a supervisory split between countries in the euro zone and those outside, Europe’s top bank regulator said on Wednesday, warning of his concerns about the latest plan to tackle the financial crisis. Last week, the European Commission
- Europe unveils banking union plan to tackle crisis (Category: Business)
- ECB’s Liikanen says bank union needs time (Category: Business)
- G20 backs Europe’s plans for overhaul to fight crisis (Category: Business)
- Fitch: Bank subsidiary self-funding trend likely to continue (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)
Fitch Ratings Lanka has affirmed Seylan Bank PLC’s (Seylan) National Long-Term rating at ‘A-(lka)’. The Outlook is Stable. A full list of the bank’s ratings is provided at the end of this commentary. Seylan’s rating reflects Fitch’s expectations of support from the State of Sri Lanka if required, given the bank’s systemic importance. However, the ...
- Fitch upgrades Seylan Bank to ‘A-(lka)’ (Category: Business)
- Fitch Affirms Seylan Bank at ‘A-(lka)’/Stable (Category: Breaking News)
- Fitch rates Seylan Bank’s subordinated debt ‘BBB+’ (Category: Business)
- Implied Support (Category: Business)
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 ...
- China factory sector shrinks most in nine months (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- Asia factory output weak; India defies with rise (Category: Business)
- Asian factory output curbed by troubled Europe (Category: Business)
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 its key monetary easing ...
- 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)
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 together one of the most experienced teams of journalists, photographers and designers to create a magazine of international standards...
- 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)
SINGAPORE (Reuters): Brent crude rose for the eighth consecutive session on Monday to just below $117 a barrel, though prices stayed under a four-month peak hit on Friday on worries that high oil prices could hamper efforts to boost a struggling world economy. Oil has been boosted by the U.S. Federal Reserve’s aggressive moves last ...
- Oil falls towards $105, economy jitters return (Category: Business)
- Brent slips, EU optimism keeps price above $111 (Category: Business)
- Oil falls on Fed’s gloomy economy outlook (Category: Business)
- Oil hits six-month high on supply worries, Iran (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)
NEW YORK (Reuters): Comparing the Federal Reserve to a rehab clinic offering addicted investors a synthetic high has been a favorite of Wall Street wags ever since the first round of Fed stimulus nearly four years ago. The punch line is that you always need more and more to get the same high and each ...
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
- Fed ramps up economic stimulus, ready to do more (Category: Business)
- Time to buy as market has corrected itself enough: Panel (Category: Business)
- World stocks steady near 11-mth lows (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 conditions was an unprecedented step that marked a ...
- 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 may be overblown three years after the end of the ...
- 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)
Reuters: Europe moved a step closer to a banking union on Wednesday with a plan for the European Central Bank to supervise all euro zone banks, a cornerstone of closer fiscal integration designed to end years of financial turmoil in the region. European Commission President Jose Manuel Barroso outlined the proposal in his annual “state ...
- Regulator warns banking union could split Europe (Category: Business)
- ECB’s Liikanen says bank union needs time (Category: Business)
- World stocks off early highs ahead of US jobs (Category: Business)
- Change EU treaty to stabilise bloc, says Trichet (Category: Business)
Reuters: Germany’s Constitutional Court gave a green light on Wednesday for the country to ratify the euro zone’s new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund. The eagerly awaited verdict boosted global stocks and the euro currency as investors ...
- Euro zone crisis heads for September crunch (Category: Business)
- German FM: Greece needs sustainable debt by 2020 (Category: Business)
- EU leaders to agree on permanent bailout fund (Category: Business)
- Europe splits over fiscal union, UK isolated (Category: Business)
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 ...
- Corporatism: A step beyond state capitalism (Category: Business)
- The rise of State capitalism: new masters of the universe or an ominous portent? (Category: Business)
- Impunity: Unequal before the law (Category: Business)
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
- Euro hits decade low vs yen, remains vulnerable (Category: Business)
- Dollar softer, but euro fails get a boost (Category: Business)
- Asia shares, euro consolidate from lows (Category: Business)
- World stocks, euro rise on hopes Greece ditches referendum (Category: Business)
Reuters: Asian shares were on track for their biggest daily gain in six weeks on Friday after the European Central Bank outlined its plan to calm the euro zone’s debt crisis and firm US data fed speculation of a strong jobs report later in the day. European equities will likely extend gains
- ECB to hold fire on growth steps in crisis-hit Spain (Category: Business)
- Oil falls towards $105, economy jitters return (Category: Business)
- World stocks off early highs ahead of US jobs (Category: Business)
- ECB sees ‘substantial’ effect from cheap money offer (Category: Business)
By S.S. Selvanayagam The Supreme Court yesterday (6) ordered the Central Bank to file the Foreign Reserve Management Rules (Guidelines) to Court sequent to the Fundamental Rights violation petition challenging the investment on the controversial Greek bonds, which resulted in a loss of Rs. 2.14 billion of public funds to the State. The Deputy Solicitor ...
- UNP MP files FR case against CB’s junk Greek bond investment (Category: Business)
- Minister Amunugama defends Greek bonds investment (Category: Breaking News)
- Central Bank makes substantial gains in reserve management (Category: Business)
- Central Bank defends investment in Greek bonds (Category: Breaking News)
Reuters: Oil futures rose above $114 per barrel on Thursday, buoyed by expectations the European Central Bank will manage to ease its debt crisis with a new programme of bond purchases. Europe’s debt crisis and slowing global economic growth have fuelled worries about the demand outlook
- Interest, FX rates to stabilise: Treasury Secy. (Category: Business)
- Eight banks vie to lead Sri Lankan euro bond: CB (Category: Business)
- NATO head Stoltenberg: EU needs the US to protect against China (Category: USA, New York)
- NATO head Stoltenberg: EU needs the US to protect against China (Category: USA, New York)
A goat’s best friend is Mervyn! The populace has been cruel to him. Ok, to the goat too, but I am talking about a man willing to be incarcerated just to liberate a hapless animal. Thankfully, the President interceded and saved the day for both. The Minister had promised to defy a Court order and ...
- The other red meat (Category: Australia, Tasmania )
- Battle of the superfoods (Category: Business)
- Mervyn Silva offers she-goat to Goddess Kali (Category: Breaking News)
- Marauding goat Billy attacks trio (Category: Australia, Victoria)
Results of the ICC-Ifo World Economic Survey, released recently, reveal declining optimism over global economic recovery as fear continues to spread about the unsolved debt crisis in Europe. The Survey, which received responses from 1,079 experts in 123 countries, showed that the world economic
- Optimism in Middle East businesses ‘rising’ (Category: Business)
- Deutsche Post DHL hikes outlook as Asia demand buoys Q3 (Category: Business)
- ECONOMIC AND SOCIAL SURVEY OF ASIA AND THE PACIFIC 2010 (Category: Breaking News)
- Global economic outlook slowly improving but remains fragile (Category: Business)
The Lanka Micro Finance Practitioners Association (LMFPA), as the apex body of MFIs, in its bid to address and create awareness about development and current status of the industry including best practices commenced a series of Enabling Dialogues, where CEOs, general managers, directors of companies engaged in micro-financing (including licensed commercial banks and non-ban...
- Micro finance: As India moves forward, Sri Lanka stagnates (Category: Business)
- Rs. 120 m Trade Finance and Investment IPO oversubscribed (Category: Business)
- Veteran banker P.V. Pathirana joins CIFL (Category: Business)
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