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Reuters: JPMorgan Chase & Co’s (JPM.N) losses from disastrous derivatives trades will likely amount to $4 billion to $6 billion in the second quarter, far more than the original estimate of at least $2 billion, according to a person familiar with the matter. The bank has gotten out of more than half of the position, ...
- JPMorgan CIO retires, Obama says proves reform case (Category: Business)
- JPMorgan has trading loss of at least $2 b, reputation hit (Category: Business)
- Obama has assets in JPMorgan accounts: White House (Category: Business)
- Obama pledges tough enforcement of Wall Street reforms (Category: Business)
The renowned Thomian Society of Colombo brings on stage one of the most expensive and yet completely sought after plays on stage on Sunday, 8 July at 7.30p.m. at Waters Edge. Feroze Kamardeen’s renowned H.G.H.E. Pusswedilla has hitherto drawn packed houses at the Lionel Wendt Theatre. Many were known to have gone away disappointed for ...
- A comprehensive modernization of the education sector in the next 10 years (Category: Breaking News)
- Woman given a death sentence (Category: Breaking News)
- President Spearheads Sri Lanka's Economic Revival and Seeks Japanese Investment (Category: Breaking News)
- A joint program to be implemented between India and Sri Lanka (Category: Breaking News)
The United National Party (UNP) yesterday claimed that the country’s economy has been ‘militarized’, citing how the Central Bank’s actions brought the Lankan rupee market to a standstill last Tuesday.
- David Shapiro: Finding laughs between groans as election goes overtime (Category: USA, Hawaii)
- Vaccines offer the key to speed of Hawaii’s economic recovery (Category: USA, Hawaii)
- Vaccines offer the key to speed of Hawaii’s economic recovery (Category: USA, Hawaii)
- Vaccines offer the key to speed of Hawaii’s economic recovery (Category: USA, Hawaii)
By Uditha Jayasinghe As the rupee weakened further, the United National Party (UNP) yesterday discharged a fresh salvo against the Government’s economic management, insisting that the rupee’s decline was being “militaristically controlled” and called for greater transparency. Referring to reports that banks stopped quoting spot prices after what dealers said w...
- Pakistan players wanted to lose to damage Afridi – Court (Category: Business)
- China, India score with untied aid (Category: Business)
- CB to stop supplying dollars for oil bills (Category: Business)
- IMF clarifies numbers (Category: Business)
New Director General of the Asian Development Bank’s South Asia Regional Department Juan Miranda made a courtesy call on Economic Development Minister Basil Rajapaksa on Tuesday to discuss the current status in relation to ADB’s assistance program in Sri Lanka. He was accompanied by Lead Development Effectives Specialist Hans G. Carlson and ADB’s Country Director ...
- ADB Director General in town (Category: Business)
- ADB in talks with Govt. for two new highways (Category: Business)
- ADB’s new Sri Lanka partnership to target inclusive growth (Category: Business)
- Sri Lanka has big potential to be a viable regional hub – ADB VP (Category: Business)
The Development Bank of Seychelles (DBS) is looking for banking partnerships with Sri Lanka. “DBS, the main financial institution in Seychelles with long term lending facilities in all areas of the Seychelles economy, would like to establish bilateral banking ties with Sri Lanka,”
- Seychelles Development Bank seeks ties with Lanka (Category: Breaking News)
- Seychelles Development Bank seeks ties with Lanka (Category: Breaking News)
- A Seychelles bank to seek credit line facilities from Sri Lankan banks (Category: Breaking News)
- Seychelles biz delegation in town (Category: Business)
The Sri Lanka Economic Association (SLEA) on Friday 29 June will launch a book titled “Achieving Economic Goals in the Midst of Global Challenges” containing the proceedings of its 2011 Annual Sessions. It will be held at HARTI Auditorium, Hector Kobbekaduwa Agrarian Research and Training Institute, 114, Wijerama Mawatha, Colombo 7 at 4.30 p.m. SLEA ...
- Open Forum on agriculture (Category: Business)
- EXPLAINER: What caused Sri Lanka’s economic collapse? (Category: Breaking News)
Predicts that Sri Lanka will face formidable challenges in the future unless the issues of social protection are addressed now These views were shared at the inauguration of a workshop titled ‘Promoting Productive Social Protection and Labour Systems in Sri Lanka for Inclusive Growth: Developing an Integrated Social Protection and Labour Strategy,’ organised jointly by ...
- Promoting productive social protection (Category: Business)
- Sri Lanka must address social protection issues - Senior Minister Gunasekera (Category: Breaking News)
- Insurance: The Great Protector (Category: Breaking News)
Standard & Poor’s Ratings Services recently assigned Sri Lanka to its Banking Industry Country Risk Assessment (BICRA) group ‘8’. That was S&P’s first assessment of Sri Lanka’s banking industry under its BICRA methodology. This article addresses questions investors and market participants may have about S&P’s rationale for assigning Sri Lanka t...
- S&P’s soother! (Category: Business)
- S&P fires warning on Sri Lankan banking system; ranked along with Nigeria (Category: Business)
- Sri Lankan Banking Industry face ‘economic & Industry’ risk – S&P (Category: Breaking News)
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
- Taming the ‘monsters’ (Category: Business)
- Corporatism: A step beyond state capitalism (Category: Business)
- IMF-led privatisation, land and resource grab in Sri Lanka (Category: Breaking News)
- Experimenting with State-Owned Enterprises (Category: Breaking News)
MUMBAI/NEW DELHI (Reuters): India announced steps on Monday to bolster the embattled rupee, including a $5 billion increase in the foreign investment cap in government bonds, but disappointed markets hoping for bolder action to prop up a currency that hit a record low on Friday. After the central bank raised the bond limit to $20 ...
- Rupee continues to strengthen (Category: Breaking News)
- Market Flavour (Category: Business)
- Seeking Direction (Category: Business)
- Rupee Path (Category: Business)
to the increased weight of emerging markets in the world economy ...
- Bubble Fears (Category: Business)
- Demands on bank assets pose “vicious cycle” danger (Category: Business)
- Rebalancing (Category: Business)
- Islamic markets seen leading global trade volumes (Category: Business)
Reuters: India will unveil measures on Monday to arrest the slide of its currency, Finance Minister Pranab Mukherjee said on Saturday, a day after the rupee hit a new record low against the dollar. The partially convertible Indian currency on Friday hit a record low of 57.32 against the dollar, before the Reserve Bank of ...
- Former Mississippi Gov. William F. Winter dies at 97 (Category: USA, Mississippi)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Nebraska)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Maryland)
- March on Capitol costs Georgia man his job at car dealership (Category: USA, Maine)
Differences of opinion are normal It is not unusual for one to find instances where there is a difference of opinion as to how one sees oneself and how others see him. Such differences invariably lead to hurling charges at each other and even making counter-charges to prove that the original opinions expressed had all ...
- Understanding Standard & Poor’s BICRA Assessment Of Sri Lanka (Category: Business)
- S&P’s soother! (Category: Business)
- Sri Lankan Banking Industry face ‘economic & Industry’ risk – S&P (Category: Breaking News)
- S&P fires warning on Sri Lankan banking system; ranked along with Nigeria (Category: Business)
Reuters: Weakening business activity worldwide is hitting U.S. companies where it hurts, with more of them signaling disappointing results than at any time over the past decade. Many bellwether companies, including two Dow components, have come out in recent days with profit warnings, and the slowing in Europe has been cited as a major factor ...
- Companies plan for two-speed Europe (Category: Business)
- Europe’s debt crisis to shake corporate America (Category: Business)
- Maersk raises 2012 outlook on freight rate recovery (Category: Business)
- Smartphones drive record Samsung profit; capex raised to $ 22 b (Category: Business)
The Sri Lanka Banks’ Association (SLBA), which represents the licensed banks operating in Sri Lanka, in a statement, said yesterday that it was concerned over the statement made by Standard and Poor’s. SLBA said S&P’s statement was issued on 20 June, where attention was drawn to concerns over credit risk in the banking industry. Concerns ...
- Mashreq leads $ 140 m loan syndicate for Bank of Ceylon (Category: Business)
- SriLankan Airlines gets $ 175 m Islamic loan from Gulf banks (Category: Business)
- Banking industry joins Lankan chorus against UNHRC moves (Category: Business)
- KumbukRiver among spectacular hotels (Category: Travel)
Calls for Govt. to table details of investments in listed securities from January 2010 to April 2012 Says the two funds and Central Bank come under Finance Ministry and accountable to Parliament In a strong move, Opposition Leader Ranil Wickremesinghe yesterday urged the Government to table in Parliament full details of all investments in listed ...
- JVP Leader nails govt. on ETF, EPF balances (Category: Breaking News)
- UNP wants EPF & ETF fund investment details revealed (Category: Breaking News)
- EPF and ETF tangled up! (Category: Business)
- Govt. planning to place EPF, ETF under independent body (Category: Breaking News)
Reuters: The U.S. Federal Reserve on Wednesday delivered another round of monetary stimulus and said it was ready to do even more to help an increasingly fragile U.S. economic recovery. The central bank expanded its “Operation Twist” by $267 billion, meaning it will sell that amount of short-term securities to buy longer-term ones to keep ...
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
- Fed officials take wait-and-see approach on stimulus (Category: Business)
- Bernanke defends low rate policy for weak economy (Category: Business)
- US “close to faltering”, Fed ready to act says Bernanke (Category: Business)
The 23rd annual Nexia International Asia Pacific Conference will take place in Colombo on 6 and 7 July under the theme ‘Strategies to prepare for the development in the Market’. Chief Guest and Key Note Speaker at the opening ceremony on 6 July will be given by Central Bank Governor and Institute of Chartered Accountants ...
- Sri Lanka to host a regional conference of accounting and consulting firms (Category: Breaking News)
- Sri Lankan capital to host international conference on accounting and consulting in July (Category: Breaking News)
- Two new Non Executive Directors appointed to NTB Board (Category: Business)
- 26th National CA Students’ Conference on 4 April (Category: Business)
By Cheranka Mendis NDB Group yesterday introduced full service investment banking operations with the re-launch of Capital Development and Investment Company (CDIC) under a new corporate identity as NDB Capital Holdings Plc. NDB Capital Holdings CEO and Director Vajira Kulatilaka (second from left) addresses the media yesterday. Others from left are NDB Capital Holdings Chief ...
- NDB enjoys $ 59 m net receipts; poised for investment and growth (Category: Business)
- NDB Investment Bank makes history at Euromoney Awards for Excellence 2012 (Category: Business)
- NDB reports significant profit growth during 1H 2012 (Category: Business)
- World Finance names NDB the ‘Best Commercial Bank in Sri Lanka’ (Category: Business)
WOKE up as usual to a nursery rhyme. The Bread Man, who blares the same old tune over a megaphone every day, runs two jobs; one of waking up Sri Lanka, a job coercively collared from the rooster and the other selling bread and buns. The ice cream man comes later on in the day, ...
- Ore. father accused of trying to give away the kids (Category: USA, Washington)
- Jana Aragalaya now ‘Frontline Socialist Party’ (Category: Breaking News)
- Bayliss feels for Marsh as Dilshan quits (Category: Business)
- Heshan comes second in heats but fails to qualify for next round (Category: Business)
By Shanuka TIssera In an annual fellowship held on Tuesday (19), Gamma Pharmaceuticals Pvt. Ltd and Interpharm Pvt Ltd showcased their latest product – Gamma’s Gripe Mixture and provided attendees with an in-depth, up to date position of both companies including their means to a brighter future. From left: Product Development Executive Mahesh Arthanayaka, Manager ...
- Interpharm wins special SPC award for local manufacture (Category: Business)
- Demand For Samahan (Category: Breaking News)
- PC Pharma to trade on CSE from 19 January (Category: Business)
- Baurs Healthcare holds annual sales and distributor convention (Category: Business)
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
- Harsha claims Govt., CB lack credibility (Category: Business)
- UNP draws guns on “military control” of Rupee (Category: Business)
- S&P’s soother! (Category: Business)
WASHINGTON: Developing countries should prepare for a long period of volatility in the global economy by re-emphasising medium-term development strategies, while preparing for tougher times, says the World Bank in the newly-released Global Economic Prospects (GEP), June 2012. A resurgence
- World Bank forecasts South Asia to grow by 6.4% in 2012 (Category: Business)
- Global economic outlook slowly improving but remains fragile (Category: Business)
- World Bank projects global slowdown, with developing countries impacted (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
Reuters: Europe won support from world leaders on Tuesday for an ambitious but slow-moving overhaul of the euro zone, even as pressure built in financial markets for quicker solutions to its debt crisis that threatens the world economy. European countries showed at a Group of 20 summit
- Change EU treaty to stabilise bloc, says Trichet (Category: Business)
- IMF says not enough done to stop spread of euro zone crisis (Category: Business)
- International alarm over euro zone crisis grows (Category: Business)
- S&P piles pressure on Franco-German budget plan (Category: Business)
Lankaputhra Development Bank is implementing a special loan scheme with the aim of promoting computer literacy among local entrepreneurs, professionals and public sector employees. Laptops could be obtained under this loan scheme for them to gain computer literacy and IT knowledge. The Scheme also serves as a boost for the government’s program aimed at ...
- State Support (Category: Business)
- State Banking (Category: Business)
- State Banking (Category: Business)
Standard and Poor’s yesterday fired a fresh warning on Sri Lankan banking system, relegating it to a risk prone grouping that includes Nigeria. Standard & Poor’s Ratings Services said it has assigned Sri Lanka to its Banking Industry Country Risk Assessment (BICRA) group ‘8’. At the same time, it assigned an economic risk score of ...
- Understanding Standard & Poor’s BICRA Assessment Of Sri Lanka (Category: Business)
- Sri Lankan Banking Industry face ‘economic & Industry’ risk – S&P (Category: Breaking News)
- S&P’s soother! (Category: Business)
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 ...
- WatchTower (Category: Business)
- Can Read (Category: Business)
- Dissenting Voice (Category: Business)
- Trajectory (Category: Business)
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 from the euro zone debt ...
- BRICS demand bigger IMF role before giving it cash (Category: Business)
- BRICS nations gird to pressure West over imbalances (Category: Business)
- IMF seeks more funds; G20 to discuss (Category: Business)
- Lagarde’s next battle at IMF: Power shift (Category: Business)
Market’s value up Rs. 23 b, ASI back again in 5,000-points level The Colombo stock market produced a confident rebound yesterday driven by high net worth investors as well as institutions picking up low valued opportunities. The market’s value rose by Rs. 23 billion, slightly lower than Friday’s gain of Rs. 26 billion. The rise ...
- Stocks extend rally on banks, hotels (Category: Business)
- Bourse loses Rs. 85 b in value in a week (Category: Business)
- Foreign craving for stocks grows; inflow tops Rs. 28 b (Category: Business)
- Net foreign inflow tops Rs. 30 b; Bourse rebounds (Category: Business)
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