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By Cassandra Mascarenhas In a knowledge economy, learning becomes a vital ingredient for power and furthering the need for continuous learning, the Chartered Institute of Chartered Accountants’ annual flagship event, the CIMA Business Leaders Summit 2012 conducted the technical sessions, the second half of its two-day agenda. “Our theme is about power. Power existed even ...
A total of 350 key business professionals in Karachi were hosted by the Chartered Institute of Management Accountants (CIMA) Regional Division for an evening meeting on the theme ‘Harnessing the True Potential of Pakistan,’ which was a first-of-its-kind in the Pakistani financial capital Karachi. The event attracted the key political movers and shakers of Karachi ...
Bold measures The Government of Sri Lanka introduced a number of bold macroeconomic stabilisation measures in February/March 2012. These were necessary as the country was on a trajectory to a very destructive balance of payments crisis. It is still too early to determine
Historically, capital markets have played an important role in the development of market economies and therefore the development of efficient regulation of securities too has become increasingly important. While fostering the development of the economy, the capital markets also play an important equalising role. Viz – it attracts the participation of a large number of ...
Sri Lankaandrsquo;s economy along with that of many other Asian, African and Middle-Eastern markets would be drastically affected in the event contagion of the EU crisis is not duly contained, Standard Charted Research has warned.
The Colombo stock market fell 2.8 per cent yesterday wiping out Rs. 20 billion in value to hit a 23-month low as domestic and foreign investors sold on both worry global gloom and a weak rupee and the outlook for interest rates. The main index ASI fell 136.58 points to 4,748.60, its lowest since July ...
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
The global economy is a platform for increasing competition among businesses across industries and economies, where the Sri Lankan market economy is no exception to this norm. While the west is struggling to curb the Eurozone crisis, the Middle East strives to maintain stability in the crude
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
The Royal Bank of Scotland Group’s Head of Rating Advisory Raymond Woo had recently called on Economic Development Minister Basil Rajapaksa. “Sri Lanka was able to control the impact of internal and external crisis successfully due to the efficiency of the political, economic
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
By Deepal V Perera The volatile exchange rate environment since this year has dealt a fresh crisis for illegal money changers, though the positive outcome is that more transactions taking place officially. “The illegal money changers are now finding a crisis situation to match the daily
ww.wsws.org: On May 20, the Socialist Equality Party and International Student for Social Equality (ISSE) held a successful congress of plantation workers at Hatton, in Sri Lanka’s central hill region. A number of workers, including several dozen from the Nuwara Eliya and Badulla tea plantation districts, as well as youth and students from Jaffna, Kandy ...
A meeting was held between Minister of Justice and Sri Lanka Muslim Congress Leader Rauff Hakeem and the Ambassador of France in Sri Lanka Christine Robichon on Thursday in Colombo. The purpose of the meeting was to discuss present political, social and economic matters. Hakeem stated that the Government has made proposals to appoint a ...
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: Sri Lanka’s central bank expects the steps it has taken to reverse a currency decline to drive the rupee past 125 to the US dollar, but it is not targeting a particular level, Central Bank Governor Ajith Nivard Cabraal said on Tuesday. The rupee is hovering around 129-130 despite a warning from the authorities ...
With a view to strengthening regional financial and economic cooperation, Governor of Reserve Bank of India Dr. D. Subbarao on 16 May announced in the 24th SAARC FINANCE Governors’ Meeting in Pokhara, Nepal, that the Reserve Bank of India will offer Swap Arrangement of US $ 2 billion both in foreign currency and Indian rupee. ...
Being smart makes you confident. Being “deep-smart” makes you to move beyond in unleashing the hidden potential. We are in an era where the country needs many such people. Let’s discover what, why and how of “deep-smarts” in today’s column. Describing smartness We say working smart is better than working hard. Among the Oxford ...
Home is where the heart is. And for every child, a home is a place where there is comfort, protection and warmth, and love and care of a family. We all remember days when our dads would carry us out on their shoulders for an ice-cream, when we fought with our brothers and sisters over ...
The Pathfinder Foundation is organising the second series of seminars, beginning with ‘Billions of Entrepreneurs; How China and India are Reshaping their Futures and Yours’. The seminar, organised in collaboration with the Ceylon Chamber of Commerce using video conference facility of the American Centre, is scheduled for 22 May from 6.3p.m. to 8:30p.m. The ...
To strive in the corporate world the entity must be the best in its game. Progression towards being the better business requires effectiveness in all areas. Improvement, growth, development, advancement, no matter how you choose to define it, the effective entity must always be open to change through a positive mindset: establishing the power of ...
The UNESCAP recently released its publication, ‘The Economic and Social Survey of Asia and the Pacific 2012 – Pursuing Shared Prosperity in an Era of Turbulence and High Commodity Prices,’ and the global launch took place simultaneously in all ESCAP member countries on 10 May. Speaking at the launch in Bangkok, the Executive Secretary of ...
Sri Lanka Cricket says it will stage its own Twenty20 cricket league in August, more than a year after it was postponed due to possible losses due to a pull out of Indian players. The first edition of Sri Lanka Premier League was originally scheduled to be played in July last year. SLC president Upali ...
Noting that the NSB-TFC deal is peanuts, the main Opposition UNP yesterday declared that the bigger problem was questionable investments by the EPF and demanded immediate answers from a 'dodgy' Government. Following is the full text of the statement issued yesterday by UNP MP and its spokesman on economic matters Dr. Harsha De Silva: Article ...
Road accidents cause the most number of annual deaths in Sri Lanka. Each year over 40,887 road accidents occur in Sri Lanka, causing 6 fatalities every day. Several hundreds of people are left seriously injured; some with lifelong consequences. Addressing this tragedy, Caltex together with the Sri Lanka Traffic Police has embarked on an island-wide ...
In a world where most product categories are at the mature stages of the product lifecycle, the key differentiating factor for a brand happens to be the reputation that it has earned in the market place. Be it a fridge that you buy for your home or a packet of milk powder that you get ...
Planned divestiture of subsidiary – the sole private savings bank in the country – not advertised Deal with in-out-and-in Navara Capital under fire as Rs. 562 m strike price falls below Board recommendation Analysts label deal price as “cheap” when CB is unlikely to be generous in issuing new Specialised Bank licences in the future ...
The world’s leading coconut shell-based activated carbon manufacturer and exporter, Haycarb PLC has sustained performance in the fourth quarter of 2011-12, despite challenging external conditions and rising production costs, to end the year on a positive note. According to interim statements filed with the Colombo Stock Exchange, volume increases and continued focus on value added ...
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
Warns that countries need tough policy changes to stimulate waning growth By Cheranka Mendis Asia Pacific faces another year of tough policy changes to stimulate growth, with Sri Lanka in particular having to manage monetary policy, control inflation, provide jobs for youth and reduce high inequality, it was revealed in a report released yesterday. The ...