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Reuters: Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to make the first concerted challenge to the U.S. grip on the top job at the World Bank, according to sources. The two globally respected economists and diplomats will be nominated for the World Bank presidency by South Africa ...
- World Bank picks health expert Jim Yong Kim as president (Category: Business)
- SL Seeks US$ 500Mn From WB For 2011 (Category: Breaking News)
- World Bank to choose new chief; US pick likely (Category: Business)
- World Bank plans to double development funds (Category: Breaking News)
The Ceylon Chamber of Commerce (CCC), the pioneering business chamber in the country will turn 173 years on 25 March. An anniversary forum for its distinguished members and top corporate personnel will be held on 22 March from 5.30p.m to 8p.m. at the Golden Pond, Hotel Taj Samudra Colombo to celebrate this milestone. Ceylon ...
- Trade and Investment promotion mission to Singapore (Category: Business)
- Tamil Nadu trade team to arrive in Sri Lanka Thursday (Category: Breaking News)
- Sri Lanka's largest business chamber signs deal for trade with BRICS (Category: Breaking News)
- CCC joins hands with Armenian Biz Union to promote trade (Category: Business)
Lankan born Gishan Dissanaike, the Adam Smith Professor of Corporate Governance, University of Cambridge will share key insights to the good, bad and the ugly of insider trading at seminar on Monday jointly organized by the Institute of Chartered Corporate Secretaries and Securities and Exchange Commission (SEC) in partnership with the Daily FT. Dissanaike will ...
- Seminar on insider trading (Category: Business)
- New SEC Chief says won’t turn blind eye to robbers invading bourse (Category: Business)
- Insider trading: Good, bad or ugly? (Category: Business)
- Insider trading: Is it rampant, cause for market’s ill or mere paranoia? (Category: Business)
After 30 years of violence, northern Sri Lanka is opening up to tourism Saying I’m going on holiday to Sri Lanka elicits one of two reactions from my friends. There’s the ooh-elephants-temples-cocktails-at-sunset-lucky-you! brigade. And then there are my friends who read the newspapers. “Which beach did you say you’re staying on?” emails a friend. “The one where ...
- Sri Lanka: Unpunished Crimes (Category: Breaking News)
- On accountability the LLRC report is disappointing – Butenis (Category: Breaking News)
- NO END IN SIGHT:Tamil’s being searched and detained again in Sri Lanka (Category: Breaking News)
- ‘This agony is unbearable’ – Relatives of surrendered and disappeared (Category: Breaking News)
The entry in to Sri Lanka by Malaysia’s sovereign wealth fund Khazanah Nasional Berhad via John Keells Holdings (JKH) is being hailed as a all round boost for the country, the Colombo stock market as well as the premier blue chip. JKH which has many first to its credit is also the first stock on ...
- Khazanah kudos! (Category: Business)
- ‘Empathetic’ Provident Fund! (Category: Business)
- Net foreign inflow tops Rs. 30 b; Bourse rebounds (Category: Business)
- Foreign craving for stocks grows; inflow tops Rs. 28 b (Category: Business)
My column today is an attempt to focus our attention on a few less spoken or untold developments that may have a profound influence on how we carve our way through in creating a desirable social, economic and political future for mankind on this only planet of ours. While I will not specifically touch on ...
- Development-led globalisation (Category: Business)
- The ‘Doha Mandate’ (Category: Business)
- UNCTAD should address challenges faced by developing world (Category: Business)
- Global trends in investment (Category: Business)
Blue Diamonds seeks approval to subdivide shares Blue Diamonds Jewellery Worldwide Plc announced it would hold an Extraordinary General Meeting to obtain approval to subdivide its shares. The sub division will be based on the number of shares on 4 May. Dealing on the shares of the company will be suspended from 8 to 10 ...
- 3M, a Global Partner in Innovation (Category: Business)
- Lanka IOC and banking sector stocks propel bourse to positive trajectory (Category: Breaking News)
- World shares climb after S&P 500 record, despite virus woes (Category: USA, South Dakota)
- World shares climb after S&P 500 record, despite virus woes (Category: USA, South Dakota)
With the wave of rapid expansion of the company’s branch network and business activities, Multi Finance recently announced the appointment of Manohara S. Tillakawardana as an Independent, Non-Executive Director of the company. He is presently a Director and Lead Consultant in TOGS Associates Ltd., a company which is engaged in providing consultancy and advisory services ...
- Second Listing (Category: Business)
- Finance Purchase (Category: Business)
- Finance Act (Category: Business)
- Finance Sale (Category: Business)
Despite a select few reporting highest-ever profits, the combined figure of 210 companies which have released their financials so far reveals a concerning trend. The cumulative earnings for the quarter ended on 31 December 2011 was Rs. 40.6 billion, up by only 0.56% year-on-year according to broking sources who have tracked corporate results. The 210 ...
- Maersk raises 2012 outlook on freight rate recovery (Category: Business)
- Growth gloom (Category: Business)
- WPP cautious on 2012 after emerging markets help 2011 (Category: Business)
Clouded prospects in developed markets cast a shadow over outlook for trade and economyBy Jonathan Story Two key forces that have driven Asia’s transformation for decades can be counted on to continue apace in the coming year: economic development and China’s rise. Nonetheless, individual Asian countries will struggle to balance domestic and international responsibilities in ...
- Divergent trends as Sept. passenger traffic rises freight declines — IATA (Category: Business)
- Islamic markets seen leading global trade volumes (Category: Business)
- Bouyant StanChart eyes 10th record year, new hires (Category: Business)
- Asia, not North America, now has most millionaires (Category: Business)
By Cheranka Mendis UNP MP Dr. Harsha de Silva yesterday accused the Government of playing a two-faced role to the IMF and the people of the country. Quoting from a letter allegedly handed over to then MD of IMF Dominic Strauss-Khan signed by Central Bank Governor Nivard Cabraal and then Deputy Minister of Finance and ...
- UNP draws guns on “military control” of Rupee (Category: Business)
- Harsha claims Govt., CB lack credibility (Category: Business)
- Harsha hints at Chinese hurdle in debt relief talks (Category: Breaking News)
- COPF asks govt. why it shared IMF pact with other committees (Category: Breaking News)
By Dr. Laksiri Fernando Sri Lanka’s independence on 4 February 1948 was never a final act, but a major landmark in a process of evolution from colonialism to independence and underdevelopment to development. It is truly a process of internal emancipation. It is the 63rd anniversary of this landmark or the 64th Independence Day that ...
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Invest in education (Category: Business)
Reuters: China will continue to invest in euro zone government debt, the country’s central bank governor said on Wednesday, while calling on Europeans to produce more attractive investment products for China. Zhou Xiaochuan admitted that China and other emerging nations like Brazil, Russia or India were waiting for the right time to help the bloc, ...
- China urges EU to reach debt deal without delay (Category: Business)
- Europe bailout fund chief sees no quick China deal (Category: Business)
- China’s Wen: May consider bigger role in EU rescue funds (Category: Business)
- Euro zone recession may have already started: PMIs (Category: Business)
Q: 13 Plus has become the most discussed topic in the political scene. What do you think about 13 Plus? A: Before looking at the 13th Amendment or the 13 Plus, first let us give a chance to the present mechanism. I strongly believe the present mechanism can address the majority of our issues. The ...
- Tamils only want Chelvanayagam’s demands met- not Prabakaran’s - Suresh Premachandran (Category: Breaking News)
- SLMC opposes govt. decision not to allocate land and police powers to the provinces (Category: Business)
- Sri Lanka – Nation Building, Devolution & The 13th Amendment – Part IV (Category: Breaking News)
- TNA and talks travails (Category: Business)
Says Central Bank ‘miserably politicised’; wants change at the top; warns of public, worker agitation UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday said the Government has to blame itself and take responsibility for the current economic crisis in the country. In a statement, Dr. de Silva said: “The ...
- Increase, to meet IMF conditions; UNP (Category: Breaking News)
- Central Bank report was not independent: Dr. Harsha de Silva (Category: Breaking News)
- Market will beat the Central Bank no matter how powerful the governor is: Harsha . (Category: Breaking News)
- UNP wants CB, EPF officials summoned before Parliament (Category: Breaking News)
Reuters: If the World Bank is correct, 2012 will see the second slowest year of global economic growth in a decade, at a level consistent with a world recession that, like the 2008/2009 financial crisis, would not spare Asia. Its sister organisation, the International Monetary Fund, warns that economic expansion in China could be slashed ...
- HSBC Asia Pacific reports $ 13.3 b pre-tax profit in 2011 (Category: Business)
- Global wealth to grow 50% to $345 trillion in 5 years: Credit Suisse (Category: Business)
- WB South Asia Chief Economist to address Sri Lanka Economic Summit 2012 (Category: Business)
- Values vs. wealth (Category: Business)
Following are some responses from three economists to the guest column by Chandra Jayaratne titled ‘Important issues’ for Sri Lankan legislators, the Executive, policymakers, Central Bankers, economists and thought leaders to ponder over published on 2 February 1) I disagree with the Stiglitz-Krugman line. My diagnosis is that Europe is in this mess for two ...
- Important issues (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- Asian economies: Managing spillovers and advancing economic rebalancing (Category: Business)
- Sri Lanka’s economy stands to gain from a stronger Europe: German Envoy (Category: Business)
Reuters: A new guessing game is about to begin: will China’s incoming generation of leaders show more courage than the current incumbents in tackling deep economic imbalances that threaten to bring growth to a sudden stop? The question, easier to frame than to answer, is critical for the world economy. China has accounted for about ...
- World Bank says China’s economy at ‘turning point’ (Category: Business)
- China economy shows signs of stabilising – NDRC (Category: Business)
- China economy faces risk of hard landing – Govt. economist (Category: Business)
- China warns of trade war if US bill passes (Category: Business)
Fresh call for applications after respondents to first attempt fail to fully satisfy Commissioners New ad states remuneration package negotiable The hunt for the new Director General of the Securities and Exchange Commission (SEC) appears elusive as the capital market regulatory body is advertising afresh for a suitable candidate. The first attempt saw over a ...
- SEC says not out to create a fear psychosis in the minds of investors (Category: Business)
- Right of Reply: SEC responds to ‘Cracks in SEC?’ (Category: Business)
- SEC issues statement on investigations (Category: Business)
- Right of Reply: SEC responds to retaining private counsel (Category: Business)
The Visible Hand of the government ‘The Visible Hand’ was the title which the famed London-based economics weekly, The Economist, used when it published a special report in its issue on 21 January 2012 on the rise of state capitalism in the modern era. The title has a pun
- Target 2048 – Economic Democracy Principles Should Be Followed To The Letter (Category: Breaking News)
- Corporatism: A step beyond state capitalism (Category: Business)
- A monetary constitution to add on to the legal constitution? (Category: Business)
Rapidly expanding, Divasa Finance Limited recently announced the appointment of Prof. Arjuna De Silva and Mr. Vasula Premawardhana as non-executive directors of the company. Prof. Arjuna De Silva (MBBS, MD, MSc [Oxon], FRCP [Lond], FCCP) is a professor in medicine at the Faculty of Medicine, University of Kelaniya Sri Lanka. He obtained the MRCP (UK) ...
- Ruhunu University students attacked by the Nil Balakaya(Blue Battalion): 9 hospitalised; 2 in se... (Category: Breaking News)
- Red Ink (Category: Business)
- Finance Losses (Category: Business)
- Finance Recovery (Category: Business)
Indian External Affairs Minister S.M. Krishna announced in Colombo a substantial expansion in the scholarships currently being offered by Government of India to meritorious Sri Lankan students. Under this initiative, the number of scholarships and Self-Finance slots for Undergraduate, Masters and Phd Courses is being increased from the existing 113 slots to 270 per year. ...
- 10 Sri Lankan youth to go to India under cultural schols (Category: Business)
- India offers scholarships for Sri Lankan students (Category: Business)
- India offers higher education scholarships to Sri Lankan students (Category: Breaking News)
- 10 more scholarships for studying in India (Category: Business)
Facing the short-term economic challengesThe macroeconomic imbalances Sri Lanka has achieved a growth rate of 8.3% last year and inflation fell to 4.9% year-on-year in December 2011. These are noteworthy achievements at a time when the global economic landscape has been hostile with a slowdown in the US and a crisis in Europe; key markets ...
- CCC says no room for complacency (Category: Business)
- Commendable start; now for the finish (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- Enhancing confidence in the Sri Lankan economy (Category: Business)
Developing countries should prepare for further downside risks, as Euro Area debt problems and weakening growth in several big emerging economies are dimming global growth prospects, the World Bank said yesterday in the newly-released Global Economic Prospects (GEP) 2012. The bank has lowered its growth forecast for 2012 to 5.4 per cent for developing countries ...
- WB urges developing countries to strengthen domestic fundamentals (Category: Business)
- World Bank forecasts South Asia to grow by 6.4% in 2012 (Category: Business)
- Global economic outlook slowly improving but remains fragile (Category: Business)
- Asian economies: Managing spillovers and advancing economic rebalancing (Category: Business)
Reuters: China’s economy grew at its weakest pace in 2-1/2 years in the latest quarter and it appeared headed for an even sharper slowdown in the coming months as export demand fades and the housing market falters. The fourth-quarter year-on-year growth of 8.9 percent, although slightly stronger than the 8.7 percent that economists polled by ...
- China economy faces risk of hard landing – Govt. economist (Category: Business)
- No new China stimulus, says former Deputy Central Banker (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- Asian shares flat as weak China data fuels growth worry (Category: Business)
‘A ruler with a depleted treasury eats into the very vitality of the citizens and the country. A ruler, who impoverishes his own people or angers them by unjust exactions will also lose their loyalty Impoverishment, greed and dissatisfaction are engendered among the subjects, when the ruler among other things (i) fails to give what ought ...
- 2024 Election Year; The Perennial Challenge Of Cleaning The Stables For Sri Lanka! (Category: Breaking News)
- Prosecuting Aragalaya Protestors; A Legal Perspective (Category: Breaking News)
- Ranil’s Honeymoon With The ‘Inglorious Illegitimates’ (Category: Breaking News)
- Nihal Sri takes on ‘Expropriation Bill’ (Category: Business)
Nicholas D. Kristof, who is a regular contributor to the Op-Ed columns of the New York Times and a frequent visitor to North Korea over the past dozen years, had the following comment to make about the passing of Kim Jong-il and the paroxysms of grief with which the people of that country responded to ...
- sidebar baners (Category: Breaking News)
- Top model Thrikala Dharani (Category: Breaking News)
- Australia names squad for the T20 World Cup in Sri Lanka (Category: Breaking News)
- Rolled Over For Development (Category: Breaking News)
LTTE rump groups and pro-LTTE organisations are trying hard to achieve their separatist ideology in the countryDefence Secretary Gotabaya Rajapaksa on Tuesday said that there is a possibility of the re-emergence of the LTTE in Sri Lanka, as LTTE sympathisers abroad are still struggling to achieve the LTTE’s separatist ideology in the country. He made ...
- Sri Lanka is still under threat, warns Defence Secy. – Part I (Category: Business)
- Security is still critical in peaceful Sri Lanka – Gota (Category: Business)
- Country must utilise opportunity afforded by peace: Defence Secy (Category: Business)
“Our sense is that if we do not act boldly and if we do not act together, the economy around the world runs the risk of a downward spiral of uncertainty, financial instability and potential collapse of global demand… we could run the risk of what some commentators are already calling the lost decade” – ...
- W. Bank’s Zoellick says double-dip recession unlikely (Category: Business)
- Flashing red - European debt crisis signals collapse of social welfare state (Category: Business)
- World economy fragile, faces “uneasy calm” – IMF (Category: Business)
- G20 backs Europe’s plans for overhaul to fight crisis (Category: Business)
If the Governor of Central Bank has an urge to enter politics, he should come to Parliament without playing politics inside the CB, charges United National Party Parliamentarian and well-known Economist Dr. Harsha de Silva. Dr. de Silva notes that Governor Nivard Cabraal should respect the sanctity of the Central Bank and therefore if Cabraal ...
- Treasury Chief urges help for balance of payments (Category: Business)
- Nivard sees weak rupee recovering to 125 (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
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