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The Oxford Dictionary definition of ‘inept’ is ‘acting or done with no skill’. An ineptitude results is such behaviour being manifested An ‘Inept’ocracy’ has been defined in the Urban Dictionary as ‘a system of government, where the least capable to lead are elected, by the least capable of producing, and where the members of society ...
All newspapers carried headlines a few days ago stating that May 2012 tourist arrivals have increased by 17.5% from last year. It is reported that the May arrivals of 57,506, was higher than even that of April, which showed only a 9% increase YOY. So far, total arrivals for 2012 up to end May is ...
Reuters: Sri Lanka may need to consider easing monetary policy if trade data for May and June point to significant weakness in global demand for the island’s goods, the Treasury Secretary told Reuters on Thursday. A further export slowdown would put additional pressure on the economy as domestic demand has already shown signs of cooling ...
RIO+20 is the next focus point for the world and as President Mahinda Rajapaksa takes Sri Lanka’s concerns to this international forum, it is perhaps time for a larger discussion on its importance to a developing country as well as the world at large. Twenty years ago, it was mostly people who were displaced by ...
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
Despite the Central Bank’s positive Monetary and External Performance reports this week, the Ceylon Chamber of Commerce (CCC) has called for vigilance in moving forward. Releasing a statement yesterday, the CCC noted that the Government had introduced a package of courageous macroeconomic stabilisation measures in February 2012. “These were necessary to avert the balance of ...
Europeans are avoiding vacations to Greece this summer fearing instability sparked by the debt crisis, industry sources say, inflicting a hard blow to the country’s already devastated economy. “From the aftermath of the elections on May 6, we have experienced a 50 percent drop
Sri Lanka is the only country that is not facing the energy crisis in the South Asian region, WB South Asia Region Senior Operations Officer Diep Nguyen-van Houtte said. She noted that with one third of the population going without electricity in the region, causing huge constraints on growth
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
ATHENS (Reuters): Fewer German, British and Russian tourists visited Greece in the first quarter, contributing to a 15.1% drop in tourism receipts compared to the same period a year earlier, the country’s central bank said. The drop dampens hopes for a strong tourism season this year to help an economy mired in a deep five-year ...
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: Tourism revenues in Mauritius rose 15.6% in the first quarter to March compared to a year ago although arrivals were slightly lower, data showed this week. “Gross tourism receipts for the first quarter of 2012 were estimated by the Bank of Mauritius at 13.81 billion rupees ($465.77 million)… compared to 11.94 billion estimated for ...
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 ...