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The International Monetary Fund delegation headed by Dr. John Nelmes met Economic Development Minister Basil Rajapaksa, Senior Adviser to the President and Minister on Wednesday. Koshy Mathai, International Monetary fund (IMF) Resident Representative for Sri Lanka, Volodymyr Tulin and Jiri Jonas
Reuters: Banks are getting round new rules intended to make a still vulnerable industry safer while countries are distracted by the continuing financial crisis, the International Monetary Fund said on Tuesday. The IMF’s latest Global Financial Stability Report said banks will adjust
- Demands on bank assets pose “vicious cycle” danger (Category: Business)
- India finds balance in NPLs recovery and borrower rights (Category: Business)
- Insurers, asset managers need tighter control – BIS (Category: Business)
- Three steps to avoid a global depression – Soros (Category: Business)
A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country. What is volatility? Volatility is the severity and the frequency with ...
- Achieving economic goals amidst global challenges (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- Lion leads frontier markets (Category: Business)
Reuters: Asian shares edged lower on Tuesday after Germany’s business confidence fell in September for a fifth consecutive month and Caterpillar Inc (CAT.N), the world’s largest earth moving equipment maker, cut its earnings forecast, underscoring worries about slowing global growth. Uncertainty about the bailout prospects for Greece and Spain, as the euro zone’s three-year-long ...
- Asian markets cheered by Fed rate outlook (Category: Business)
- Shares, euro dip on Europe; French bond auction eyed (Category: Business)
- Euro zone fears rattle global markets (Category: Business)
- Asian shares at 3-month high after China inflation (Category: Business)
LONDON (Reuters): Britain’s budget deficit widened to the biggest on record for any August, data showed on Friday, a day after the central bank chief said missing its debt goal was acceptable for the government. Public sector net borrowing excluding financial sector interventions rose to 14.410 billion pounds from 14.365 billion in August 2011 as ...
- UK’s Green Bank to lend to wind, waste energy (Category: Business)
- Britain’s top rating may yet survive (Category: Business)
- Financing of 2011 Budget goes haywire (Category: Business)
- Euro zone crisis heads for September crunch (Category: Business)
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- CB seen keeping rates steady for fifth straight month (Category: Business)
- Sri Lanka to grow at 7.2% (Category: Business)
- CB banks on policy changes (Category: Business)
Reuters: The Central Bank is expected to keep interest rates steady for a fifth straight month on Tuesday despite high inflation to help bolster economic growth, which has been cooling due to sweeping policy measures and an extended drought. Twelve out of 13 analysts polled by Reuters expect the repurchase and reverse repurchase rates to ...
- Central Bank seen holding rates, SRR steady (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Inflation slips on food prices (Category: Business)
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
- Bourse boom awaits boosted brokers after Presidential forum (Category: Business)
- Tilak talks his way out of SEC (Category: Business)
Reuters: Asian shares crept up on Monday with expectations rising that weak U.S. jobs data would prompt the Federal Reserve to announce fresh stimulus and Europe will make further progress in its debt crisis management this week, overshadowing soft Chinese data. Trade data released on Monday showed China’s exports in August grew slightly less than ...
- Euro hits decade low vs yen, remains vulnerable (Category: Business)
- Dollar softer, but euro fails get a boost (Category: Business)
- Asia shares, euro consolidate from lows (Category: Business)
- World stocks, euro rise on hopes Greece ditches referendum (Category: Business)
WASHINGTON, (Reuters): Singapore’s economy is set to weaken this year on the back of weaker global demand and related international financial and trade strains emanating from the euro zone debt crisis, the International Monetary Fund said on Monday. “Under the benign global baseline
- Sri Lanka, the fastest growing Asian economy after China (Category: Breaking News)
- Sri Lanka: Shanmugaratnam in short list of possible IMF successors (Category: Breaking News)
- StanChart eyes $ 3 b Singapore revenue in three years (Category: Business)
- Singapore set for five-year F1 contract extension (Category: Business)
THE cost of living is a daily state of being, rather than a condensed number for the masses. However, the latest August data depicts dangerous signs for the Government as it heads towards elections. On Tuesday President Mahinda Rajapaksa was seen visiting the drought-hit regions ahead of his campaign trail in the three provinces that ...
- Inflation seen at 42-month high in July (Category: Business)
- Rupee fall drives inflation to 41-month high (Category: Business)
- CB says policy rates appropriate (Category: Business)
- India’s inflation hits three-year low, cenbank seen unmoved (Category: Business)
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
- Promoting productive social protection (Category: Business)
- MBSL seminar on ‘Implications of the new Finance Business Act’ on 19 September (Category: Business)
- The loud voice of economists: Reform or perish (Category: Business)
- Taming the ‘monsters’ (Category: Business)
Reuters: Forbes magazine ranked German Chancellor Angela Merkel the most powerful woman in the world for the second year in a row in the annual list dominated by politicians, businesswomen and media figures. President of the Indian National Congress Sonia Gandhi Forbes magazine ranked German Chancellor Angela Merkel the most powerful woman in the world ...
- Merkel tops powerful women list, Nooyi, Gandhi in top 10 (Category: Business)
- Hilary Clinton is the world's second most powerful woman (Category: Breaking News)
- Sonia hopes for suitable outcome on Sri Lanka (Category: Breaking News)
- Ailing matriarch Sonia puts Gandhi dynasty at crossroads (Category: Business)
CAIRO (Reuters): Egypt has formally requested a $4.8 billion loan from the International Monetary Fund, a spokesman for its president said on Wednesday during a visit to Cairo by IMF chief Christine Lagarde to discuss support for the country’s ailing economy. Egypt’s finance minister
- Egypt to formally seek IMF financing – Minister (Category: Business)
- Aussie held in Egypt (Category: Australia, Queensland)
- Authorities visit Australian detained in Cairo (Category: Western Australia)
- Consul visit to WA man held in Cairo (Category: Western Australia)
Good governance activist and former Chairman of the Ceylon Chamber of Commerce Chandra Jayaratne has submitted several key proposals for consideration in the 2013 Budget by President and Finance Minister Mahinda Rajapaksa. Here is the text of his letter containing the proposals sent to President Rajapaksa: 20th August 2012 H. E. Mahinda Rajapaksa, The President ...
- Economic management and the way forward (Category: Business)
- A Postscript To Political Crisis: A Way Out (Category: Breaking News)
- Reality of living the dream: Sri Lanka beyond 2011 (Category: Business)
- Chandra J calls for Financial Services Authority and Banking and Finance Commission (Category: Business)
Reuters: The International Monetary Fund on Monday raised concerns over the resignation of the Head of the Securities and Exchange Commission ilak Karunaratne, observing that the regulator had been taking the right steps to ensure market participants obeyed the rules. “It is sad
- TISL wants Govt. to strengthen resolve against “stock market mafia” (Category: Business)
- Market must earn confidence to be more attractive for investors: SEC (Category: Business)
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
By Cassandra Mascarenhas The technical sessions of the Association of Professional Bankers’ 24th anniversary convention were held yesterday, bringing the APB’s flagship event to a close. Aptly themed ‘Sustainability in volatility: The bankers’ challenge,’ each technical session explored an area that could throw obstacles in the path of bankers and the line-up of speak...
- More than ever, businesses must think ‘what if’ (Category: Business)
- Banking foresight – Shaping integrated development (Category: Business)
- APB to promote ‘Sustainability in Volatility’ at 24th anniversary convention (Category: Business)
- Threat of recession contains risk of further global bank failures (Category: Business)
Monetary Fund, presented a plan for more spending this year, a ...
- Appropriation Bill tabled in P’ment; 2012 maximum borrowing at Rs. 1.15 t (Category: Business)
- Financing of 2011 Budget goes haywire (Category: Business)
- Budget bloats! (Category: Business)
- A Budget for all! (Category: Business)
By Chamitha Kuruppu The Janatha Vimukthi Peramuna (JVP) on Wednesday stated that the time has come for the public to “stand against the irresponsible decisions and unwise acts of the Finance Minister and the Central Bank Governor that leads this country into an economic downfall.” President Mahinda Rajapakse as the Minister of Finance and Central ...
- UNP raises alarm over NSB investment in The Finance (Category: Business)
- JVP breathes fire against 2018 Commonwealth Games bid (Category: Business)
- Illegal money changers in crisis as more transactions move into mainstream (Category: Business)
- Harsha renews call for swift action against NSB-TFC deal makers (Category: Business)
The Central Bank is expected to keep interest rates steady for a fourth straight month on Tuesday as a spike in inflation to a 42-month high complicates its efforts to bolster cooling growth. All 11 analysts polled by Reuters expected repurchase and reverse repurchase rates to be left unchanged at 7.75% and 9.75% respectively. Both ...
- Inflation decelerates (Category: Breaking News)
- Sri Lanka Inflation Rate Rises, Leaving Less Room to Hold Rates (Bloomberg) (Category: Breaking News)
- Sri Lanka Keeps Interest Rates Unchanged for Growth (Update2) (Category: Breaking News)
- Sri Lanka Keeps Interest Rates Unchanged for Growth (Update2) (Category: Breaking News)
Reuters: The International Monetary Fund on Thursday called for a “policy game changer” in the euro zone to arrest the spread of the debt crisis it now says is clearly engulfing the entire currency bloc and its smaller neighbors. An IMF spillover report that looks at how the economic
- European stocks rise ahead of ECB meeting (Category: Business)
- IMF seeks more funds; G20 to discuss (Category: Business)
- Euro zone crisis heads for September crunch (Category: Business)
- Euro zone crisis set to dominate G20 meeting in Paris (Category: Business)
Weak rupee, price hikes, drought driving inflation-analysts CB expects easing in inflation on Govt. price cuts Reuters: Sri Lanka’s annual inflation rate may have accelerated to a 42-month high in July as a drought pushed up local food prices and a weaker rupee aggravated import bills. Annual inflation is expected to have accelerated to 9.4%in ...
- Inflation slips on food prices (Category: Business)
- SriLanka inflation increase further more (Category: Breaking News)
- CB says policy rates appropriate (Category: Business)
- Inflation eases as food prices moderate (Category: Business)
LONDON (Reuters): Britain’s economy shrank far more than expected in the second quarter, battered by everything from an extra public holiday to government spending cuts and the neighbouring euro zone crisis. Finance minister George Osborne said figures released on Wednesday showed Britain had “deep-rooted economic problems,” adding that the slump in the second quarter was ...
- Indonesia’s tourism sector to focus on emerging markets (Category: Business)
- Growth is better than expected – CB (Category: Business)
- Growth gloom (Category: Business)
- Global 2012 rubber output forecast revised up: ANRPC (Category: Business)
Reuters: China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund said in a report on Wednesday that urged further reform and currency appreciation to rebalance growth and reduce risks. The report said economic reforms
- World economy fragile, faces “uneasy calm” – IMF (Category: Business)
- Slowing China aids global economic rebalancing (Category: Business)
- Turning point in the currency war (Category: Business)
- ‘China yuan could challenge dollar role in a decade’ (Category: Business)
Reuters: Brent slipped to $102 a barrel on Wednesday as worries about oil demand from the troubled euro zone offset any gains to prices sparked by concerns about oil supply from the Middle East. The euro zone’s private sector shrank for a sixth month in July as manufacturing output nosedived, notably in the core countries ...
- Brent falls near $113 over euro zone jitters (Category: Business)
- Oil hits six-month high on supply worries, Iran (Category: Business)
- Oil up despite weak Europe data (Category: Business)
- Euro zone Oct inflation at 3 pct despite cooler growth (Category: Business)
Reuters: Asian shares inched higher on Tuesday, helped by improving Chinese manufacturing data, but the euro remained under pressure as surging Spanish borrowing costs stoked fears that the euro zone’s fourth-largest economy will be forced to seek a bailout. The HSBC flash China manufacturing purchasing managers index rose to a five-month high in July, driven ...
- Asian shares flat as weak China data fuels growth worry (Category: Business)
- Asian shares rise; oil spikes on Iran tension (Category: Business)
- Asian markets firmer as focus turns to FOMC from Greece (Category: Business)
- Asian stocks surge on EU bond support (Category: Business)
Sri Lankaandrsquo;s Banking Watchdog andmdash; Central Bank said with the successful completion of the US$ 2.5 billion Standby Arrangement (SBA) facility extended by International Monetary Fund (IMF), the country now has sufficient funds, but would like to have an elite anchor in the alternative
By Uditha Jayasinghe Following the end of the US$ 2.5 billion Stand-By Agreement, the International Monetary Fund (IMF) remains upbeat about the Sri Lankan economy and further collaboration will be finalised later this year, an official said yesterday. The IMF transferred the final tranche
- Counter Cyclical (Category: Business)
- Lanka progressing well - International Monetary Fund (Category: Breaking News)
- Expectations (Category: Business)
- Sri Lanka to start discussions on fresh IMF facility (Category: Breaking News)
COLOMBO (Reuters): Sri Lanka’s rupee gained 0.6 percent against the dollar on Monday to its highest level since mid June on inflows into government bonds and IMF approval to disburse a $415 million loan tranche, dealers said. The rupee closed at 130.90/131.10 against the dollar, its strongest since June 11, and firmer than Friday’s close ...
- Bourse at 3-week low, Rupee falls (Category: Business)
- Rupee up on Govt. bond dollar inflows; Stock market fails to cheer (Category: Business)
- CB intervenes again to defend rupee (Category: Business)
- Rupee edges up on Treasury comments (Category: Business)
Sri Lanka will begin talks for fresh loans with the multilateral donor body- International Monetary Fund (IMFF) for an 'Extended Fund Facility', countryandrsquo;s banking watchdog- Central Bank of Sri Lanka, said following the receipt of the ninth and final tranche of US$ 2.5 billion Stand
- Bond Auction (Category: Business)
- ‘SL will implement home-grown solution’ (Category: Breaking News)
- Market Flavour (Category: Business)
- Seeking Direction (Category: Business)
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