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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
Reuters: Asia’s top companies are less upbeat on their business outlook than in the first quarter, with mounting concern over the euro zone crisis and a slowdown in China’s growth, according to the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey, published on Wednesday
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
Reuters: Under pressure from financial markets and anxious world leaders, Europe agreed on Monday to move towards a more integrated banking system to stem a debt crisis that threatens the survival of the euro. At a Group of 20 summit of the world’s leading industrialized and developing
Reuters: Brent crude steadied around $96 a barrel on Tuesday, staying close to 16-month lows hit in the prior session, as Spain’s rising borrowing cost showed Europe is nowhere near resolving its debt crisis that has hurt the outlook for fuel demand. Oil, along with other commodities, fell
Reuters: European soccer’s major powers looked set to dominate the final stages of Euro 2012 after a testing evening for Italy and Spain ended with them both easing through on Monday to join Germany, Portugal, the Czech Republic and Greece in the last eight. France and England lead the running to fill the final two ...
The World Bank last week forecast South Asia to grow by only 6.4% in 2012 down from 7.1% last year. “Policy uncertainties, fiscal deficits, entrenched inflation, and infrastructure gaps will continue to weigh negatively on investment activity and are expected to limit regional growth to a relatively modest 6.4% in 2012, 6.5% in 2013, and ...
Central Bank has termed the first quarter economic growth as better than expected, according to a report filed by Reuters. “It is better than what we expected,” Reuters quoted Central Bank Assistant Governor K.D Ranasinghe as saying. “For the full year our forecast is 7.2 per cent,” he added. A Reuters poll of 10 analysts ...
Speaking at a forum organised by KPMG in Sri Lanka for chief financial officers and chief risk officers of banking institutions, KPMG India’s Partner and Head of the Financial Risk Management (FRM) practice, Rohit Bammi emphasised that local banks have the opportunity to further enhance their risk management functions. In his opening remarks, Rohit discussed ...
Your article which appeared on 25 May 2012 is very educative, thought-provoking, clearly explaining the brief history of the factors that contributed to the collapse of the stock market. The author’s effort is highly appreciated by all investors and the brokering community. Your esteemed newspaper too is commended for the effort in revealing the truth. ...
The global financial crisis of 2008/09 has not sent migrant workers streaming back home, despite worsening employment prospects and anti-immigration rhetoric in some destination countries, says a new book on migration and remittances, published by the World Bank last week. In fact, migrants
LONDON (Reuters): Oil futures fell on Monday, erasing early gains after a victory for pro-bailout parties in Greece failed to ease concerns about the euro zone, and analysts said oversupplied crude markets would cope with any loss of Iranian oil. Pro-bailout parties in Greece will form a government after a narrow election victory over the ...
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 ...
Political parties supporting Greece’s international bailout begin forging a government on Monday after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro and brought relief to global markets. Conservative New Democracy leader Antonis Samaras called for broad support after winning Sunday’s election over the Syriza party, wh...
Reuters: The next wave of private investment in Africa is likely to come from Asian funds, lured by sustained high growth rates and increasing economic and political stability, according to the co-head of one of the continent’s top private equity groups. By contrast with the crisis
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: The Congress Party named Finance Minister Pranab Mukherjee as its nominee for President on Friday, capping a week of political turmoil that exposed the fragility of a coalition government that has lurched between crises as the economy sputters. Mukherjee is expected to step down by 24 June, and Prime Minister Manmohan Singh could take ...
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 ...
By Sajjid Z Chinoy and Jahangir Aziz jpmorgan.com: With India’s current account deficit (CAD) reaching unsustainable proportions and the real exchange rate experiencing a sharp depreciation over the last year, one of the critical policy debates in the country currently is whether India can take advantage of the currency weakness and export its way out ...
Reuters: Authorities in the world’s major economies are preparing for a possible market storm or public panic after cliffhanger Greek elections this weekend, officials said on Thursday, should radical leftists win and cast doubt on the nation’s future in the euro zone . Britain announced on Thursday it would flood its banking system with cash ...
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 ...
Beijing: The International Air Transport Association (IATA) announced that Qantas Airways CEO and Managing Director Alan Joyce has assumed his duties as Chairman of the IATA Board of Governors. Joyce succeeds KLM President and CEO Peter Hartman, whose one-year term expired at the conclusion of the Association’s 68th Annual General Meeting (AGM) and World Air ...
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
Reuters: Banks need a radical overhaul to boost profitability against the backdrop of tougher new rules and a grim economy – and they expect their customers to share some of the pain. That is the view of bankers, investors and regulators meeting in Copenhagen this week to assess how banks need to adapt to meet ...
LONDON (Reuters): European shares edged up and the euro was flat on Wednesday as worries over contagion from Spain’s banking sector were heightened by a sharp rise in the country’s borrowing costs. Riskier assets have fluctuated all week as optimism and disappointment have alternately gripped financial markets, reflecting a high level of unease over whether ...
BEIJING (Reuters): China’s annual economic growth could fall below 7 percent in the second quarter if weak activity persists in June, an influential government adviser was quoted on Wednesday as saying. The forecast by Zheng Xinli, a former deputy director of the Chinese communist party’s policy research office, is among the most bearish by any ...
NEW YORK (Reuters): Hiring prospects have improved slightly in the United States and other major economies but companies are only adding workers when they have to, according to a survey by Manpower Group, the global employment services giant. Manpower in a quarterly survey describes a vicious circle in which stronger consumer spending is being reined ...
This letter is in response to the ‘Letter to the Editor’ by Luxman Siriwardena, which was published in the Daily FT on 8 June titled ‘Dr. PBJ: Protectionism or protecting the unprotected?’I refer to the response by Mr. Luxman Siriwardene of the Pathfinder Foundation to my article against the protectionism suggested by the Secretary to ...