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Reuters: China, Europe and Britain loosened monetary policy in the space of less than an hour on Thursday, signalling a growing level of alarm about the world economy, although suggestions of coordinated action were played down. Of the three, the surprise move was from Beijing which lowered its lending rate by 31 basis points to ...
The Oxford Dictionary tells us that being ‘happy’ is being cheerful with feelings of pleasure or satisfaction. ‘Satisfaction’ is, in turn, when you are pleased because you have achieved something or because something has happened as you wanted it to. A synonym is being ‘content’ – being happy and satisfied with what you have. Rulers ...
Sri Lanka’s new development tagline Sri Lanka’s current development tagline has been to make it the ‘Emerging Wonder of Asia’ as originally enunciated in the ‘Mahinda Chinthana: Vision for the Future’ and reaffirmed in both the Development Policy Framework of the Government issued in 2010 and the Annual Report of the Ministry of Finance and ...
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard and Poor’s.“Standard and Poor’s reiterated what we have been saying ...
Top economist and public servant R.A. Jayatissa has recently assumed duties as the Chairman of Sri Lanka Insurance Corporation. Previously the SLIC Chairmanship was held by President’s Chief of Staff Gamini Senerath. Jayatissa, an economist, was the Deputy Secretary to the Treasury and Senior Economic Policy Advisor to the Ministry of Finance and Planning. He ...
BANGALORE (Reuters): India’s inflation may have accelerated at its fastest pace this year in May, driven by higher food and fuel prices, impeding chances of a rate cut by the RBI at its review next week, a Reuters poll showed. The wholesale price index, India’s main inflation gauge, is expected to rise 7.60 percent in ...
Nations Trust Bank (NTB) is pleased to announce the appointment of Indrajith Boyagoda as Deputy General Manager, Treasury. He joined NTB on 5 June. Boyagoda joins NTB from SAMBA Financial Group, the premier financial services provider in the Kingdom of Saudi Arabia, where he functioned as the Assistant General Manager/Program Director, Treasury and Capital Markets, ...
Senior banker K. Dharmasiri yesterday assumed office as the new General Manager at Bank of Ceylon. He succeeded W.A. Nalani who retired last week after a 37 year stint. Prior to elevation as the General Manager, Dharmasiri who joined BOC in 1975, was the Additional General Manager (Recovery), a post which he assumed in June ...
The Institute of Policy Studies of Sri Lanka (IPS ) and the South Asia Watch on Trade, Economics and Environment (SAWTEE) ) have organised a South Asia regional seminar entitled, ‘Emerging Issues on Trade, Climate Change and Food Security: Way Forward for South Asia,’ from 31 May to 1
Year to date negative return tops 20% Rs. 45 b in value wiped off; YTD loss figure tops Rs. 400 b mark The stock market crash persisted for the second consecutive day with more velocity yesterday as Rs. 45 billion in value was wiped off, propelling the year-to-date loss surpass Rs. 400 billion mark and ...
The stock market’s misery worsened yesterday with the benchmark All Share Index (ASI) dipping below the psychological 5,000 points level whilst year to date a staggering Rs. 371 billion in value has been wiped off. The ASI yesterday dipped by 1.5% or 74.66 points, to close at 4,935.01, the lowest close in 22 months or ...
By an Analyst There is no doubt and there is near unanimity that overregulation by the previous Securities and Exchange Commission arising from inexperience, lack of knowledge and lack of correct strategies was the prime cause for the market collapse witnessed today. The SEC without any foresight and professionalism has introduced ad hoc legislation detrimental ...
Reuters: China’s factories took a hit in May as export orders fell sharply, a private sector survey showed on Thursday, suggesting surprise weakness in April’s hard economic data persists even as policymakers seek to shore up growth. The HSBC Flash Purchasing Managers Index, the earliest indicator of China’s industrial activity, retreated to 48.7 in May ...
DFCC Bank announced the appointment of Trevine Fernandopulle as the bank’s Executive Vice President and Group Chief Risk Officer. Prior to joining DFCC Bank, Fernandopulle worked at Bank of Ceylon as its Chief Risk Officer and has also served in senior roles at HSBC, functioning as its Deputy CEO and as the Saudi British Bank’s ...
-Uloom Karachi (a leading Institute of Islamic Sciences in Pakistan) and the Centre of Islamic Economics, ...
An internship with MAS Holdings, Deutsche Bank and DialogCorporate heavyweights MAS Holdings, Deutsche Bank and Dialog Axiata PLC are in search of the next batch of exceptional interns to join their annual Summer Internship Program, commencing July 2012. This joint initiative is rated one of the best internship programs in the island and has been ...
The need for an integrated program on a war footingIn 2008, eight prizewinning economists were asked to list the type of projects which would do the most good for the most number of poor people, if they had an imaginary $ 75 million to spend. Half of their proposed projects involved nutrition. There has been ...
HelpAge International received the Hilton Humanitarian Prize at the Global Philanthropy Forum in Washington, D.C. on Monday, 16 April. HelpAge International is the only global organisation with a singular focus on providing assistance to and advocating for disadvantaged older people. It helps older people claim their rights, challenge discrimination and overcome poverty, so that they can ...
Mr. W.A. Wijewardena’s article about growth and kevum leaves much to be desired. It is obviously an attempt to distract people from the proper calculation of GDP per capita income. It is highly unbecoming of a former Deputy Governor of the Central Bank to write such material. It is also sad to see Mr. Wijewardena ...
UNP MP Dr. Harsha de Silva backs Daily FT columnist on per capita income data, claimsfigures too inflated and Govt. trying to mislead people and global stakeholders; CB getting more politicised By Uditha Jayasinghe Firing another salvo at the Central Bank, UNP MP and economist Dr. Harsha De Silva yesterday alleged “creative accounting” in calculating ...
SINGAPORE (Reuters): Asia’s economic growth probably troughed in the first quarter but a bounce-back may be muted, a Reuters poll showed. Although the fear factor has faded over Europe’s debt crisis and a slowing U.S. economy, both will still be a drag on growth rates in the region. Respondents in a quarterly survey of over ...
This is a summary of HSBC’s Global Economics Quarterly for Q2 2012 The foundations are weak With the US stock market up around 30% from its lows last autumn, with eurozone periphery bond yields tumbling through much of the first quarter and with the green shoots of an economic spring emerging here and there, it ...
The Institute of Policy Studies of Sri Lanka (IPS) and the Department of Economics and Statistics of the University of Peradeniya launched two Volumes on “Economic and Social Development under a Market Economy Regime” edited by Dr. Saman Kelegama, Executive Director of the IPS and Dr
Professor Buddhadasa Hewavitharana felicitated The legendary Economics Guru of Peradeniya vintage for more than four decades, Emeritus Professor of Economics Buddhadasa Hewavitharana, was felicitated last week by the country’s top policy think-tank, Institute of Policy Studies or IPS
Relevance to microfinance and total financial inclusion Section 10 (2) of the Finance Business Act No. 42 of 2011, provides that: no other person other than a finance company and an institution specified under s. 10 (6), shall use the words ‘finance,’ ‘financing,’ or ‘financial’ as a part of its name or description, except with ...
President Mahinda Rajapaksa who attended the Parliament yesterday on the special session on amendments to the Finance Act received a lecture on economics from none other than UNP MP Dr. Harsha de Silva. While Dr. De Silva was engaged in a rather heavy criticism of the proposed amendments
Ahead of Friday's AGM, Pan Asia Bank Plc (PABC Bank) Board of Directors yesterday appointed Nimal Perera as the Chairman and Eshana de Silva as the Deputy. Nimal was previously the Deputy Chairman and was elevated as the incumbent senior banker A.G. Weerasinghe is up for retirement. The new appointments are effective from 2 April. ...
Veteran banker Eastman Narangoda today stepped down as Chairman of Seylan Bank after a record-making three year tenure at its helm. Making the announcement at the Bank’s AGM yesterday Narangoda cited “personal reasons” for his decision. Appointed as Chairman of Seylan Bank PLC on 30 December 2008, Eastman Narangoda was a key figure who instrumented ...
Reuters: Asian stocks rebounded on Tuesday and the dollar struggled after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment even though the U.S. economy has shown signs of improvement. Wall Street stocks had risen more than 1 percent on Bernanke’s comments, which supported views that easy monetary policy ...
Reuters: Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to make the first concerted challenge to the U.S. grip on the top job at the World Bank, according to sources. The two globally respected economists and diplomats will be nominated for the World Bank presidency by South Africa ...