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SINGAPORE: Business sentiment among Asia’s top companies fell for the second straight quarter, dragged down by export-orientated economies such as China and Japan, while domestic spending helped boost Southeast Asia’s outlook, a Thomson Reuters/INSEAD survey showed. Concerns over global demand are hurting Asia’s export engines, with autos, technology and shipping sectors am...
- Europe, China worries hurt business sentiment: survey (Category: Business)
- Asian markets dampened by Bernanke, factory data in focus (Category: Business)
- Asia’s growth picking up, too early to celebrate (Category: Business)
- ‘Pessimism’ over Asia-Pacific growth: survey (Category: Business)
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
- From poverty to sustainability in Sri Lanka (Category: Business)
- Equity and well-being in Sri Lanka (Category: Business)
- “Connecting People to Prosperity” in Sri Lanka. A reality check with “Mahinda Chinthanaya” (Category: Breaking News)
- ‘Divi Neguma’ Dept: Development catalyst, dependency creator or a white elephant? (Category: Business)
NEW YORK (Reuters): Comparing the Federal Reserve to a rehab clinic offering addicted investors a synthetic high has been a favorite of Wall Street wags ever since the first round of Fed stimulus nearly four years ago. The punch line is that you always need more and more to get the same high and each ...
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
- Fed ramps up economic stimulus, ready to do more (Category: Business)
- Time to buy as market has corrected itself enough: Panel (Category: Business)
- World stocks steady near 11-mth lows (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)
It is unfortunate that today many impressions of Sri Lanka in foreign countries are based on unverified facts, and wrong or deliberately manipulated disinformation, carried out by those who once supported the forces of terror. These same elements continue to sow the seeds of division and separatism through various media, and also influence politicians in ...
- Commonwealth is here! (Category: Business)
- President tells Commonwealth delegates that Sri Lanka is steering on the democratic path after e... (Category: Breaking News)
- President tells CPA – “See the truth about Sri Lanka: against barrage of lies by agents of terror” (Category: Breaking News)
The first Prime Minister of independent India, Pandit Jawaharlal Nehru, wrote 75 years ago: “It would be absurd to say that the profit motive does not appeal to the average Indian, but it is nevertheless true that there is no such admiration for it in India as there is in the west. The possessor of ...
- Corporatism: A step beyond state capitalism (Category: Business)
- The rise of State capitalism: new masters of the universe or an ominous portent? (Category: Business)
- Impunity: Unequal before the law (Category: Business)
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
- Village as a developmental unit (Category: Business)
- China on track to meet 2012 growth target: Wen (Category: Business)
- WB cuts China growth forecast to 8.2% (Category: Business)
- China’s tight job market defies economic downturn (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: China’s factories contracted in August the most in nine months according to a survey showing falling export orders and rising inventories, signs that more policy action is probably needed to stop a slowdown in economic growth now in a seventh quarter. The HSBC Flash China manufacturing purchasing managers index (PMI) fell to 47.8 in ...
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- China manufacturing shrinks for 11th month (Category: Business)
- China May factory activity turns down – HSBC Flash PMI (Category: Business)
- China factory sector shrinks most in 32 months (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)
The NDB Group has delivered yet another strong performance for the first half year of 2012 recording a commendable profit after tax of Rs. 1,362 million to its shareholders, which is an increase of 36 per cent compared to the previous year. Chairman of the Bank Hemaka Amarasuriya stated: “The impressive results are attributable to ...
- NDB reports strong financial results in 1Q (Category: Business)
- NDB awarded international accolade for brand excellence (Category: Business)
- NDB Group 2011 profits up 35% to Rs. 2.9 b (Category: Business)
- NDB enjoys $ 59 m net receipts; poised for investment and growth (Category: Business)
Sri Lanka’s over US$ ($) 500 million leasing industry plans to raise between $ 150-250 million from international capital markets to circumvent high borrowing costs locally, an official told this newspaper. Kamal Yatawara, Chairman Finance Houses Association of Sri Lanka (FHA) and director/CEO The Finance Company plc said that an international donor agency whose name ...
- Finance Houses Association elects Kamal as Chairman (Category: Business)
- People’s Leasing Group marks significant results for 2012 FY (Category: Business)
- Sri Lanka Central Bank provide credit guarantees for companies (Category: Breaking News)
- BoC Leasing goes online with OpenArc ‘SkyLease’ Software (Category: Business)
financial crisis was one of the strongest among middle-income countries (MICs), but its growth ...
- RAM upgrades CDB Finance ratings to BBB/P2 with a stable outlook (Category: Business)
- Indian auto firm Atul plans CKD unit in Sri Lanka (Category: Business)
- Asian economies: Managing spillovers and advancing economic rebalancing (Category: Business)
Following is the part one of the Daily FT article featuring the Acuity Stockbrokers Research on Economy and Strategy titled “Lion Leads Frontier” launched last week. Better than the rest General frontier market risks remain pertinent to Sri Lanka Investors in frontier markets are well aware of the risk-return tradeoff intrinsic to these markets. Low ...
- Lion leads frontier markets (Category: Business)
- Sri Lanka’s growth world’s fourth best! (Category: Business)
- Sharper slip in Sri Lanka’s rank in global competitiveness (Category: Business)
Global Foreign Direct Investment (FDI) inflows rose 16 per cent in 2011, surpassing the 2005-2007 pre-crisis level for the first time, despite the continuing effects of the global financial and economic crisis and the current debt crisis in Europe, UNCTAD’s annual survey of investment trends reports. The World Investment Report 20121, subtitled ‘Towards a New ...
- Global FDI defies crisis to jump 17% to $ 1.5 trillion in 2011 (Category: Business)
- Global FDI slumps as debt crisis scares M&A away: UN report (Category: Business)
- UNCTAD moots new generation of investment policies for sustainable development (Category: Business)
- Global trends in investment (Category: Business)
REUTERS: Little more than a dozen years after the region’s crippling financial crisis, Southeast Asia is looking more a safe haven than a risky bet, with foreign investors souring on China and India and pouring money into markets proving resilient to the global gloom. Short-term investors
- ASEAN path to economic union muddied by South China Sea (Category: Business)
- Asian shares rally, euro up on US jobs (Category: Business)
- Dollar debt set to remain sparse and steep in Asia (Category: Business)
- Economists rethink Asia’s doom-and-gloom scenarios (Category: Business)
LONDON(Reuters): Unemployment in advanced economies will remain high until at least the end of 2013, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery in the past four decades, the OECD said on Tuesday. The jobless rate in the 34-country OECD area will still be stuck ...
- OECD sees euro crisis threatening world recovery (Category: Business)
- Greek economy keeps on crumbling (Category: Business)
- Developed Nation (Category: Business)
- China must quicken reforms to sustain growth: Statistics chief (Category: Business)
Reuters: Persistent fears about the euro zone’s future and an increasingly subdued global economy will restrain further advances for the world’s major stock markets, according to Reuters polls of analysts, who slashed their forecasts. Equity strategists were badly wrong-footed by last year’s disastrous showing for global stocks. Analysts overestimated gains in all but one of ...
- Recovery next year for world stocks after dire 2011 – poll (Category: Business)
- Asian shares rise; oil spikes on Iran tension (Category: Business)
- Anxious global investors look for calm (Category: Business)
China demand for coal, iron ore expected to drive market Average capesize earnings to rise to $12,400 in H2 Panamax earnings seen increasing to $11,000 SINGAPORE (Reuters): The Baltic Exchange’s Dry Index, an indicator of global economic activity, will rebound by 35 percent in the second half of 2012 versus the last six months on ...
- Baltic index rallies, capes at near 9-month high (Category: Business)
- China Aug trade surplus dips, exports off peak (Category: Business)
- Australia trade deficit widens on falling exports, worse to come (Category: Business)
- Commodities Boom (Category: Business)
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 Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related
- Way out to fix the sick external sector: Getting back to IMF’s fold a must now (Category: Business)
- Commendable start; now for the finish (Category: Business)
- Taming the ‘monsters’ (Category: Business)
- Limits of statist development or state capitalism (Category: Business)
The Central Bank of Sri Lanka notes with grave concern, a statement by Standard and Poor’s, issued yesterday, on the Sri Lankan Banking System and wishes to state that the statement is factually incorrect, illogically analysed, and is highly contradictory. 1. Soundness of the Banking System Quite contrary to the rationale for the statement, Sri ...
- S&P fires warning on Sri Lankan banking system; ranked along with Nigeria (Category: Business)
- 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)
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 ...
- Nirmal appointed to Watawala Plantations Board (Category: Business)
- David Roden on banking sector risk management (Category: Business)
- ACCA Global Forum calls for more Governments to focus on small biz (Category: Business)
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
- New instrument for financing Sri Lankan development (Category: Business)
- Sri Lanka received highest remittances from Kuwait, UAE and Qatar in 3Q2023 (Category: Breaking News)
- Current phase of global recovery and implications for Sri Lanka (Category: Business)
- IMF says fragmentation could cost global economy up to 7% of GDP (Category: Breaking News)
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 ...
- Slowdown in India’s foreign trade compounds economic woes (Category: Business)
- Asian economies: Managing spillovers and advancing economic rebalancing (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
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 ...
- Wade to speak on the power of ‘Yes’ at CIMA Business Leaders Summit 2012 (Category: Business)
- India see off Wade threat to make it 4-1 (Category: Breaking News)
- Wade suspended for two matches for third code of conduct breach (Category: Breaking News)
- Business success: sustained through effective branding and good governance (Category: Business)
Reuters: European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout programme. After nearly six hours of talks held during an informal dinner, leaders said they were committed ...
- World economies prepare for panic after Greek polls (Category: Business)
- G20 backs Europe’s plans for overhaul to fight crisis (Category: Business)
- Global leaders urge swift action to resolve Europe crisis (Category: Business)
- Euro zone crisis reaches France, turns existential (Category: Business)
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. ...
- Sri Lanka to benefit from Reserve Bank of India Swap Arrangement of US$ 2 billion (Category: Breaking News)
- RBI extends duration of USD 400 Mn currency swap for CBSL (Category: Breaking News)
- Colombo hosts inaugural SAARC ‘Public Debt Managers’ Forum 2012’ (Category: Business)
- Sri Lanka agrees to help set up south Asian seed bank (Category: Business)
Reuters: China’s premier called for additional efforts to support growth on Sunday, signalling Beijing’s willingness to take action after a recent series of economic indicators suggested that the world’s second-biggest economy will slow further in the second quarter. “We should continue to implement a proactive fiscal policy and a prudent monetary policy while giving more ....
- China can easily boost consumtion to strengthen its economy: IMF (Category: Business)
- China swings to surprise trade surplus in March (Category: Business)
- Audi July unit sales up 16%, driven by China (Category: Business)
- China on track to meet 2012 growth target: Wen (Category: Business)
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 ...
- Asia Pacific trade and investment (Category: Business)
- More challenging global environment ahead for Asia Pacific region (Category: Business)
- Asia sees red over ‘green economy’ (Category: Business)
- ‘Growing Together’: The ‘Asia Pacific century’ (Category: Business)
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