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[…]The post Why Should The United States Care About Sri Lanka’s Predicament? appeared first on Colombo Telegraph.
"China and the United States could work together to help Sri Lanka (to) overcome current difficulties (sp)."
China on Wednesday praised India for making “great efforts” to help Colombo to tide over its worst financial crisis even as it refuted Sri Lankan President Gotabaya Rajapaksa’s remarks that Beijing has shifted its strategic focus from South Asia including Pakistan to South East
[…]The post Aragalaya: People’s Response To Rajapaksa-Made Crisis appeared first on Colombo Telegraph.
The Philippines says it is ready to evacuate its nationals employed in Sri Lanka, owing to the economic crisis. Malacañang, the Philippines President’s Office, said that it has advised overseas Filipino workers (OFWs) who are seeking repatriation from Sri Lanka to get in touch with either the Philippine embassy in Dhaka or the Honorary Consulate […]
Russian oil is being supplied to Sri Lanka to produce fuel at its sole refinery as the bankrupt nation faces crippling shortages of everything from gasoline to diesel. The Russian grade of Siberian Light will be processed at Ceylon Petroleum Corp.’s refinery in Sapugaskanda,chairman Sumith Wijesinghe said in a phone interview. The country’s only refinery […]
Experts say, “The lack of cooperation by Beijing would complicate the debt recovery journey of Sri Lanka”. The magnitude of the economic crisis that Sri Lanka is facing has reached catastrophic proportions. The whole world is astounded by the rampant mismanagement beyond the comprehension of anybody. Once an economic model of Asia, is now reeling […]
[…]The post Causes Of Economic Crisis In Sri Lanka & Lessons For A New Age appeared first on Colombo Telegraph.
a “full explanation” of Sri Lanka’s financial crisis on […]
It will then be presented to the cabinet of ministers for approval, the PM’s office said in a statement.
Lack of parliament majority could drag the new prime minister's economic recovery plans
India has helped Sri Lanka with nearly 3.5 billion US dollars so far this year.
[…] The post Delayed IMF Assistance & The Fertilizer Ban: President Rajapaksa’s “Two Mistakes” That Pauperized Sri Lanka appeared first on Colombo Telegraph.
[…] The post Lack Of Accountability, Ability & Credibility appeared first on Colombo Telegraph.
[…] The post A Staged Default & Sovereign Bond Debt Trap? IMF’s Spring Meetings Amid Hybrid Cold War appeared first on Colombo Telegraph.
The Sri Lanka Institute of Marketing (SLIM) together with the Bucks University featured the 2012 award winners from Singapore of global business associations and chief marketing officers under the theme ‘Is The Party Over?’ at Galadari Hotel, where a select audience of 200 business and marketers attended the event. Some of the key points discussed ...
Reuters: Indian Finance Minister P. Chidambaram sought on Monday to allay investor worries about an economy growing at its weakest pace in almost a decade by pledging to address their concerns over taxes, public finances and interest rates. In his first comments since becoming finance minister on July 31, Chidambaram said it was important to ...
financial crisis was one of the strongest among middle-income countries (MICs), but its growth ...
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 ...
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 ...
By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search
BANGKOK (IPS): The just-ended United Nations sustainable development summit in Rio de Janeiro has exposed the discomfort that many developing Asian countries have over buzz words like ‘green economy’ and ‘green growth’ in development diplomacy. With the Economic and Social Commission for Asia and the Pacific (ESCAP), the U.N. regional development arm, endorsing these concep...
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
Reuters: Loose global monetary conditions are stoking credit and asset price booms in some emerging markets that could lead to a new financial crisis, the Bank for International Settlements warned on Sunday. Such a boom-and-bust cycle might have severe global repercussions, not least due
BEIJING (Reuters): Fresh fears over the global economy could unravel the benefit of cheaper oil prices and keep a lid on financial forecasts for the airline industry when its chiefs gather in China for their annual summit. An eight percent drop in oil prices this year has delivered a quick fix to an industry severely ...
SINGAPORE (Reuters): Asia’s economic growth probably troughed in the first quarter but a bounce-back may be muted, a Reuters poll showed. Although the fear factor has faded over Europe’s debt crisis and a slowing U.S. economy, both will still be a drag on growth rates in the region. Respondents in a quarterly survey of over ...
AMMAN (Reuters): Hussein Dabbas, President and CEO of Royal Jordanian Airlines(RJ), said he had resigned after almost three years as head of the state airline following a tough year for both the company and the industry due to regional political turmoil. “It has been a very tough year for the airline industry as a whole ...
While the government is fully capable of dealing with any pressures that come from Geneva, New York or Washington, it is the public servants and heads of corporations who should ensure good governance to improve the image of the country internationally, said President Mahinda Rajapaksa. Addressing a gathering of public servants, heads of state corporations, ...
By Nirmala Kannangara Despite the government imposing a major hike in fuel prices in February, the Ceylon Petroleum Corporation (CPC) is still facing a severe financial crisis, trade unions said. Secretary of the Jathika Sevaka Sangamaya (Petroleum Branch) Ananda Palitha said that the CPC is facing
Citizens should make a noise The Central Bank’s former Assistant Governor and its long-time Director of Statistics, Dr. Anila Dias Bandaranaike, at a recently held exporters’ forum, expressed the view that the business community should make it their business to discuss, debate and deliver their views on economic policies being formulated by the country’s policy ...