An International Research Conference on Transdisciplinary Perspective on Accounting will be held in Sri Lanka on 4 and 5 January at the Central Bank’s Centre for Banking Studies Auditorium at Rajagiriya, Colombo from 9 a.m. to 4:30 p.m. The conference has been jointly organised by the Department of Accounting of the University of Sri Jayawardenapura, ...

Six-day losing streak ends as ASI gains by 1.3% though most investors out with turnover dropping to two-and-a-half-year low The Colombo stock market saw a welcome rebound yesterday, raising hopes for a Merry Christmas over the weekend as hitherto weak-hearted investors appear to have received a boost from impressive economic data. Improved sentiments saw the ...

FRANKFURT: Banks took a huge euro 489 billion at the European Central Bank’s first ever offering of three-year funding on Wednesday, raising hope a credit crunch can be avoided and that the money may be used to buy Italian and Spanish bonds. A total of 523 banks borrowed money at the tender with demand way ...

Central Bank has approved the five new nominees to the Board of Sampath Bank Plc in place of an equal number retiring by next week. The five nominees who are qualified and professionals in their respective fields are former International Finance Corporation (IFC) Sri Lanka and Maldives Resident Representative Sanjiva Senanayake, Orit Apparels Chairman Channa ...

The Monetary Board, at its meeting held on 16 December 2011, has promoted four Staff Class Grade IV officers, A. Kamalasiri, R. Dheerasinghe, S.S. Ratnayake and K.D. Ranasinghe to the post of Assistant Governor with effect from 1 January, 2012. These promotions have been made in line with the succession plan of the Bank to ...

The Reserve Bank of India (RBI) has decided to create a separate category of Non Banking Financial Company – Micro Finance Institution (NBFC-MFI). This implements a recommendation of the Malegam Committee Report on Micro Finance in India, which was appointed subsequent to the MF crisis due to indebted farmer suicides in Andhra Pradesh. The NBFC-MFI ...

Plastic crates: Universally used in agri markets In 2002, the writer had a chance of visiting a few farms in Czech Republic, some 200 kilometres away from its capital, Prague. They were all medium sized farms owned by private individuals producing such products as vegetables, fruits and honey. At the time of the writer’s visit, ...

The Colombo stock market saw a dull day’s trading with turnover recording Rs. 664 million and the All Share Price Index falling 0.52% to close below the psychological support level of 6,000 at 5,965 while the Milanka Price Index lost 0.05% to register 5,228. The top turnover contributor list was dominated by fundamentally sound counters ...

What do nation states do when their politicians ruin their economies by serial lying to the voters, running up huge domestic and international financial deficits, uncontrolled corruption, cannot keep interest rates at reasonable rates, cannot control inflation nor hold the exchange rate steady and run the country on an unsustainable basis, depending on what has ...

A striking feature of both the Mahinda Chinthana – A Vision for the Future and the Budget 2012 is the open rejection of neoliberal economic models and the portrayal of the government policy as a special model developed indigenously for the country. Mahinda Chinthana rejects neoliberal models apparently on the ground of their high failure ...

WASHINGTON: As the United Nations conference on climate change opens in South Africa, a new World Bank study demonstrates that women, when fully empowered, can be an important force for change as countries and citizens grapple with the impacts of climate change and prepare to adapt to them. World Bank Vice President for Sustainable Development ...

By Cheranka Mendis With mobile penetration directly linked to increasing economic growth in a country, Sri Lanka with its bullish growth prospective stands to benefit heavily from the ever-expanding ICT and telecommunication sector. Alcatel-Lucent Asia Pacific President Rajeev Singh-Molares who was in Sri Lanka for a brief visit yesterday told the media that a World ...

The Central Bank released its latest educational publication titled ‘Analysis of Basic Economics Principles,’ authored by P. Samarasiri, Assistant Governor supervising the financial system stability cluster of the Central Bank. This book has been compiled based on key topics

UNP Co-Deputy Leader Karu Jayasuriya The Budget lacks direction and is neither here or there. For the consumer, it is inflationary; nor does it instil investor confidence. It has a political aim but lacks an economic aim. Furthermore, it does not address the productivity of employment; nor does it address the salaries of professionals and ...

TOKYO, (Reuters): Japan’s economy rebounded from an earthquake-triggered recession in the third quarter by expanding 1.5 percent, a pace that is likely to slow down though as a strong yen and weak global growth darken the outlook. The growth — the fastest among major industrial nations — was fuelled by robust exports and consumption after ...

A reader of the previous week’s My View on ‘Playing the Share Market Game: Play it according to Rules’ has taken issue with economists for not using mathematics to present their ideas precisely and failing to come up with theories acceptable to everyone alike. As a result of this second implication, he has claimed that ...

New research shows economically-troubled countries need more likely to be led by those with economics training The finance ministers of economically-troubled nations such as Greece and Portugal are more likely to be highly educated in economics than their peers in other countries, including the UK

John Keells Holdings held its fifth consecutive Soft Skills Workshop for graduates at the University of Sri Jayewardenepura By Devin Jayasundera The striking unemployment rate of university graduates has been a persisting issue of the university system which has given rise to many social problems among youth in the last two decades. It is said ...

SEOUL (Reuters): South Korean exports grew by the slowest annual pace in two years in October and the manufacturing sector shrank for a third consecutive month, providing evidence of a cooling global economy and raising fears that a slump is inevitable. Data also showed consumer inflation slowed more than expected because of lower prices of ...

Occupy Wall Street, occupy the London Stock ExchangeThe frustrations caused to the unemployed, the poor and the marginalised by the international and national economic crisis has spilled out onto the streets in the capital cities of the world’s leading and emerging economies. It has spread at the last count to over 900 cities in over ...

The Institute of Policy Studies or IPS has once again issued its annual assessment of the Sri Lanka’s economy in 2011 six months before the Central Bank of Sri Lanka would do so in March next year. Though the report contains a fair, constructive and elaborative assessment of the state of the economy, no adequate ...

Merchant Bank of Sri Lanka (MBSL) announced that in its exercise of strengthening the senior management structure, has recently appointed Jude Gamalath as the Group Head of Marketing to overlook the overall Marketing activities of MBSL and its subsidiaries. With over 13 years of experience in multiple disciplines with a major part of it being ...

Reuters: The euro zone’s debt crisis might already have pushed the bloc’s economy back into recession, according to business surveys that showed China’s economy taking a stride forward in October. Purchasing managers’ indexes (PMIs) on Monday only served to underscore why Europe’s leaders are scrambling to identify substantial and lasting measures to contain a soverei...

Reuters: G20 finance chiefs and central bank heads meet in Paris on Friday urgently needing to find a convincing solution to a deepening euro zone debt crisis that has fanned fears of a global slide into recession. A source at the French finance ministry — which is battling to flesh out the bones of a ...

 (Reuters) : For an October revolution, dress warm. That's the word going out – politely – on the Web to rally street protests on Saturday around the globe from New Zealand to Alaska via London, Frankfurt, Washington and, of course, New York, where the past month's Occupy Wall Street movement has inspired a worldwide yell ...

NEW DELHI (Reuters) : India hosts the leaders of Myanmar and Vietnam this week, giving New Delhi the opportunity to forge closer economic and security ties with two countries encountering testy relations with India’s giant regional rival, China. Hungry for reclusive Myanmar’s natural gas reserves, timber and farm exports to feed its rapidly expanding economy, ...

MP charges that Government is focusing only on physical infrastructure and adopting a top-down development approach instead of a more inclusive and participatory humane political futureUnited National Party Parliamentarian Eran Wickramaratne asserts that the Government is depleting the resources of the municipality on an election extravaganza. In a candid interview with the Daily FT, the ...

Reuters: Anyone hoping that recent falls in commodity prices would provide a boost to powerhouse Asian economies and help lift the developed world out of recessionary danger will be disappointed. The region’s focus remains firmly on inflation. Commodities from crude to corn have slid in the last quarter, with many showing the most dramatic losses ...

SEOUL (Reuters): South Korea’s manufacturing sector activity shrank the most in 11 months in September as new export orders fell sharply, reinforcing fears of a slide back into global recession that are battering financial markets in one of Asia’s most vulnerable economies. Economists said findings from the survey of South Korean purchasing managers at manufacturing ...

Leif Lybecker Eskesen, Chief Economist for HSBC India and ASEAN will visit Sri Lanka this week. During his visit, he will address the Bank’s corporate customers on ‘Asia’s Inflation – Growth Tango: who’s dominating the dance?’ at a special Power Breakfast, scheduled to be held on 7 October 2011, at the Cinnamon Grand Hotel. Leif ...