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Reuters: The euro zone’s debt-ravaged economy shrank in the second quarter, having flatlined in the first, despite continued German growth which economists said could soon be snuffed out. The 17-nation currency bloc contracted by 0.2% on the quarter, data showed on Tuesday. Germany eked out growth of 0.3%, marginally beating forecasts, but its forward-looking ZEW ...
- Euro zone barely grows in Q3, recession looms (Category: Business)
- Euro zone recession may have already started: PMIs (Category: Business)
- Euro zone confidence falls in Sept., inflation expectations rise (Category: Business)
- Global stocks retreat after Swiss move; euro jumps (Category: Business)
By Cassandra Mascarenhas The technical sessions of the Association of Professional Bankers’ 24th anniversary convention were held yesterday, bringing the APB’s flagship event to a close. Aptly themed ‘Sustainability in volatility: The bankers’ challenge,’ each technical session explored an area that could throw obstacles in the path of bankers and the line-up of speak...
- More than ever, businesses must think ‘what if’ (Category: Business)
- Banking foresight – Shaping integrated development (Category: Business)
- APB to promote ‘Sustainability in Volatility’ at 24th anniversary convention (Category: Business)
- Threat of recession contains risk of further global bank failures (Category: Business)
The NDB Group has delivered yet another strong performance for the first half year of 2012 recording a commendable profit after tax of Rs. 1,362 million to its shareholders, which is an increase of 36 per cent compared to the previous year. Chairman of the Bank Hemaka Amarasuriya stated: “The impressive results are attributable to ...
- NDB reports strong financial results in 1Q (Category: Business)
- NDB awarded international accolade for brand excellence (Category: Business)
- NDB Group 2011 profits up 35% to Rs. 2.9 b (Category: Business)
- NDB enjoys $ 59 m net receipts; poised for investment and growth (Category: Business)
Reuters: Japan’s economy expanded just 0.3 percent in April-June, half the pace expected, fuelling concerns growth will continue to flag as a rebound in consumer spending starts to lose momentum and Europe’s debt crisis weighs on global demand. The data provides further evidence
- Japan economy shrinks more than expected in Q4, weak exports weigh (Category: Business)
- Asian shares flat as weak China data fuels growth worry (Category: Business)
- Japan Nov. factory output slumps (Category: Business)
- Japan exits recession as quake scars heal; outlook dim (Category: Business)
TOKYO (Reuters): Japan’s official weather bureau said on Friday there are strong signs the El Nino weather phenomenon has emerged and will last until winter, adding to fears about global food supplies already hit by drought and soaring prices. Corn prices have surged more than 60 percent in the past two months as the United ...
- El Nino indicators ease, still expected late 2012 (Category: Business)
- South Asia to receive average monsoon this year (Category: Business)
- El Nino could cut global 2012/13 cocoa output (Category: Business)
- India confirms drought as El Nino looms (Category: Business)
By Chamitha Kuruppu The Janatha Vimukthi Peramuna (JVP) on Wednesday stated that the time has come for the public to “stand against the irresponsible decisions and unwise acts of the Finance Minister and the Central Bank Governor that leads this country into an economic downfall.” President Mahinda Rajapakse as the Minister of Finance and Central ...
- UNP raises alarm over NSB investment in The Finance (Category: Business)
- JVP breathes fire against 2018 Commonwealth Games bid (Category: Business)
- Illegal money changers in crisis as more transactions move into mainstream (Category: Business)
- Harsha renews call for swift action against NSB-TFC deal makers (Category: Business)
Reuters: Asian shares rose to a three-month high on Thursday after a drop in Chinese consumer inflation left room for more policy easing to support growth, while Australia’s improving labour market kept the country in better shape without stimulus for now. The new data added to growing but still guarded investor optimism that European policymakers ...
- Credit limit stalemate weighs on Sri Lanka stocks (Category: Business)
- Sri Lankan stocks fall with low turnover (Category: Business)
- Dollar dips on Fed comments, shares firmer (Category: Business)
- Asia shares ease after recent gain, policy bets persist (Category: Business)
Several dual citizens as well as former expats who have settled home recently have expressed concern over the blocking of remittances abroad via Central Bank’s recent rules on NRFC accounts, a move they alleged suggests the country could be facing a forex crisis. In an announcement in mid
- CB directs single Foreign Exchange Earners Account for multiples (Category: Business)
- Rules on forex accounts relaxed (Category: Breaking News)
- Sri Lanka introduces new operational measures for forex transactions (Category: Breaking News)
- Sri Lanka has potential to double foreign remittances to $ 8 b: BOC Chief (Category: Business)
Reuters: Dutch bank and insurer ING is likely to sell its Asian insurance business, worth about $7 billion, in several separate deals in an attempt to get the highest price and speed up the divestment process. The company is also preparing to list its European and U.S. insurance units on stock markets. ING, which got ...
- Bupa reportedly bidding for HSBC’s Asia medical insurance business (Category: Business)
- Tom Cruise yells at people not following COVID guidelines on Mission: Impossible set - CNET (Category: Technology)
- Tom Cruise yells at people not following COVID guidelines on Mission: Impossible set - CNET (Category: Technology)
- Tom Cruise yells at people not following COVID guidelines on Mission: Impossible set - CNET (Category: Technology)
By Chamitha Kuruppu UNP Parliamentarian Sujeewa Senasinghe yesterday filed a Fundamental Rights case against the Central Bank Governor at the Supreme Court challenging the prudence of Greek bond investments. Speaking to the Daily FT MP Senasinghe said, “I am seeking an interim injunction for them (the Central Bank) not to invest any more money ...
- Central Bank makes substantial gains in reserve management (Category: Business)
- Sri Lanka central bank defends FX reserve management (Category: Breaking News)
- Senior minister defends Sri Lanka Central Bank's investment in Greek bonds (Category: Breaking News)
- Central Bank defends investment in Greek bonds (Category: Breaking News)
Reuters: Indian Finance Minister P. Chidambaram sought on Monday to allay investor worries about an economy growing at its weakest pace in almost a decade by pledging to address their concerns over taxes, public finances and interest rates. In his first comments since becoming finance minister on July 31, Chidambaram said it was important to ...
- Indian Finance Minister urges officials not to hound taxpayers (Category: Business)
- Surprise industrial slump adds to India’s economic woes (Category: Business)
- India’s growth will be weaker than expected (Category: Business)
- May revise India growth forecast for 2011-12 to 6.5%: Moody’s (Category: Business)
The Central Bank is expected to keep interest rates steady for a fourth straight month on Tuesday as a spike in inflation to a 42-month high complicates its efforts to bolster cooling growth. All 11 analysts polled by Reuters expected repurchase and reverse repurchase rates to be left unchanged at 7.75% and 9.75% respectively. Both ...
- Inflation decelerates (Category: Breaking News)
- Sri Lanka Inflation Rate Rises, Leaving Less Room to Hold Rates (Bloomberg) (Category: Breaking News)
- Sri Lanka Keeps Interest Rates Unchanged for Growth (Update2) (Category: Breaking News)
- Sri Lanka Keeps Interest Rates Unchanged for Growth (Update2) (Category: Breaking News)
Reuters: Asian shares rallied to a three-month high and the euro touched a one-month high against the dollar on Monday, as a stronger-than-expected U.S. jobs data and emerging optimism for European action on the debt crisis bolstered risk appetite. But caution is likely to remain until concrete
- World stocks off early highs ahead of US jobs (Category: Business)
- Asian shares fall on European political uncertainty (Category: Business)
- Europe woes weigh on shares, euro; US job data eyed (Category: Business)
- Shares, euro dip on Europe; French bond auction eyed (Category: Business)
Reuters: Asian shares and the euro fell on Friday as investors shunned risk after the European Central Bank took no immediate action and only hinted at future steps to tackle the euro zone’s fiscal woes, following similar inaction from the U.S. Federal Reserve. Investors also have reasons to be more cautious ahead of a key ...
- Asian stocks up on Europe optimism, credit (Category: Business)
- Asian stocks post weekly gains on Central Bank fix (Category: Business)
- Stocks, commodities, euro sink on EU summit doubts (Category: Business)
- Asian shares fall on growth worries despite cuts (Category: Business)
Reuters: US and euro zone manufacturing struggled again in July while factory activity in China hit an eight-month low, surveys showed on Wednesday, as economies worldwide appeared to lose momentum. Economic malaise was worst in the 17-country euro zone, where output plummeted and the manufacturing sector contracted for an 11th straight month as a downturn ...
- Euro zone recession may have already started: PMIs (Category: Business)
- Asian factory output curbed by troubled Europe (Category: Business)
- China can easily boost consumtion to strengthen its economy: IMF (Category: Business)
- Europe a drag on world economy, US data mixed (Category: Business)
Reuters: Shrinking export orders and sluggish output dragged Indian manufacturing growth in July down to its weakest pace since last November, a business survey showed on Wednesday. The HSBC manufacturing Purchasing Managers’ Index (PMI), which gauges business activity at India’s factories but not utilities, fell to 52.9 in July, from 55.0 in June – its ...
- Export Outlook (Category: Business)
- Canada economy grows 0.3% in August from July (Category: Business)
- Cost Pressure (Category: Business)
- India’s GDP growth may be slowest in over two years: Reuters poll (Category: Business)
Reuters: When Peregrine Financial collapsed earlier this month, a nagging question resurfaced. As in the implosion of Lehman Brothers, the fall of Bernard Madoff and other cases in recent years, many asked: Where were the accountants? That this question still arises could be seen as an indictment of the 2002 Sarbanes-Oxley law, enacted 10 years ...
- John O’Grady traces benefits and challenges of IFRS compliance (Category: Business)
- The US, Afghanistan, Iraq and US (Category: Business)
- Demand for ACCA qualifications high in toueh economic times (Category: Business)
- First Capital appoints Nishan Fernando to its Board (Category: Business)
Reuters: Discord in Southeast Asia over how to deal with Beijing’s claims in the South China Sea comes as the region struggles to overcome competing national interests and form a European Union-style economic community by 2015. Political leaders and officials say the row may not directly affect plans by the Association of Southeast Asian Nations ...
- Troubled EU eyes ASEAN boost (Category: Business)
- Japan, wary of China, boosts ties with ASEAN (Category: Business)
- Sri Lanka to bag yet another ASEAN MoU (Category: Business)
- EU pledges $10bn investment in Southeast Asia during ASEAN summit (Category: Breaking News)
crisis on Asia was evident on Tuesday with Japan’s Manufacturing ...
- Asian shares rise, euro steadies on Europe hopes (Category: Business)
- Asian shares edge up but growth fears propel gold (Category: Business)
- World stocks retreat as debt worries, economy outlook weigh (Category: Business)
- Asian shares rise on ECB hopes despite uncertainty (Category: Business)
Reuters: Over the past couple of years, Europe has muddled through a long series of crunch moments in its debt crisis, but this September is shaping up as a “make-or-break” month as policymakers run desperately short of options to save the common currency. Reuters: Over the past couple
- Greek exit could cost euro zone 100s of billions of euros (Category: Business)
- EU leaders to agree on permanent bailout fund (Category: Business)
- Crisis in Italy spurs fears of euro zone break-up (Category: Business)
- Irish vote, German court add euro zone uncertainty (Category: Business)
WASHINGTON (Reuters): Economic growth slowed in the second quarter as consumers spent at their slowest pace in a year, increasing pressure on the Federal Reserve to do more to bolster the recovery. Gross domestic product expanded at a 1.5% annual rate between April and June, the weakest pace of growth since the third quarter of ...
- Sri Lanka economy grows by 8.0% in third quarter 2010 (Category: Breaking News)
- Sept-qtr GDP growth seen slowest in over 2 years (Category: Business)
- Sri Lanka achieves highest economic growth rate (Category: Breaking News)
- Economy grew more slowly in summer than thought (Category: USA, South Carolina)
MILAN (Reuters): The chances of Greece leaving the euro in the next 12-18 months have risen to about 90 per cent, US bank Citi said in a report on Thursday, saying Athens was most likely to quit the single currency within the next two to three quarters. The report, dated July 25 but distributed in ...
- Euro Zone (Category: Business)
- Greek Deadline (Category: Business)
- Global Snap (Category: Business)
- Minister Amunugama defends Greek bonds investment (Category: Breaking News)
LONDON (Reuters): Britain’s economy shrank far more than expected in the second quarter, battered by everything from an extra public holiday to government spending cuts and the neighbouring euro zone crisis. Finance minister George Osborne said figures released on Wednesday showed Britain
- Indonesia’s tourism sector to focus on emerging markets (Category: Business)
- Growth is better than expected – CB (Category: Business)
- Growth gloom (Category: Business)
- Global 2012 rubber output forecast revised up: ANRPC (Category: Business)
Janaka Walisundera, an international business management professional has been appointed as the Chief Executive Officer of UB Finance Company recently. UB Finance, which was formed with the acquisition of The Finance & Guarantee Co Ltd by Sri Lanka’s premier financial institution, Union Bank of Colombo PLC and its international strategic investment partner ShoreCap II Ltd., ...
- The Finance & Guarantee turns UB Finance (Category: Breaking News)
- UB Finance endeavours to deliver a unique proposition of economic and social value (Category: Business)
- Union Bank’s Outlook revised to Negative from Stable (Category: Breaking News)
- Top planter appointed to Pelwatte Sugar Board (Category: Business)
This is a day quite dear to some 300 million plus people in United States of America. Irrespective of their land of origin, the day is celebrated as the day of independence commemorating the adoption of the Declaration of Independence and the Founding Fathers remembered. The fourth of July this year is also important for ...
- To be or not to give: The GDP dilemma (Category: Business)
- Reform of university education (Category: Business)
- Universities in crisis: Key learnings (Category: Business)
Reuters: China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund said in a report on Wednesday that urged further reform and currency appreciation to rebalance growth and reduce risks. The report said economic reforms so far had substantially reduced external imbalances, but at the cost of significant ...
- World economy fragile, faces “uneasy calm” – IMF (Category: Business)
- Slowing China aids global economic rebalancing (Category: Business)
- Turning point in the currency war (Category: Business)
- ‘China yuan could challenge dollar role in a decade’ (Category: Business)
British HC commends Sri Lanka for progress made over the years By Cheranka Mendis Ceylon Chamber of Commerce Chairman Susantha Ratnayake yesterday called for a new wave of reforms if the country were to come out of current shocks quickly with the least amount of pain. In his address at the chamber’s 173rd Annual General Meeting, ...
- Finagle introduces Frozen Ready-To-Bake range of bakery products (Category: Business)
- Economic Summit kicks off with wakeup call for Sri Lanka (Category: Business)
- US keen to increase trade with Sri Lanka (Category: Business)
- “Sri Lanka has great potential to attract Japanese investors” – Japanese Ambassador (Category: Business)
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets are well aware of the risk-return tradeoff intrinsic to these markets. Low ...
- Lion leads frontier markets (Category: Business)
- Sri Lanka’s growth world’s fourth best! (Category: Business)
- Sharper slip in Sri Lanka’s rank in global competitiveness (Category: Business)
Reuters: Asian shares inched higher on Tuesday, helped by improving Chinese manufacturing data, but the euro remained under pressure as surging Spanish borrowing costs stoked fears that the euro zone’s fourth-largest economy will be forced to seek a bailout. The HSBC flash China manufacturing purchasing managers index rose to a five-month high in July, driven ...
- Asian shares flat as weak China data fuels growth worry (Category: Business)
- Asian shares rise; oil spikes on Iran tension (Category: Business)
- Asian markets firmer as focus turns to FOMC from Greece (Category: Business)
- Asian stocks surge on EU bond support (Category: Business)
By a Special Correspondent A year or back from today, Sri Lankan economy had been sailing strongly amidst global economic typhoons. Most of the macro variables were reflecting peace dividends and rejuvenated hope. However, by mid 2011, the country’s trade deficit, fuelled by credit expansion was signalling early signs of an economic turmoil. Perhaps being ...
- Why Lion leads frontier (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
- Flexible exchange rates and impact on exporters (Category: Business)
- Value investors enter as speculators exit (Category: Business)
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