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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 ...
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 ...
Reuters: Manufacturing in China contracted for the 11th month in a row in September, according to a private sector survey of factory managers that indicated the world’s second largest economy remains on track for a seventh quarter of slowing growth. The HSBC Flash China manufacturing purchasing managers’ index (PMI) showed activity stabilized in September after ...
Reuters: The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the US economy each month until it saw a sustained upturn in the weak jobs market. The central bank’s decision to tie its controversial bond buying directly to economic conditions was an unprecedented step that marked a ...
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 ...
Standing tall at six feet 10 inches, and surging towards stardom with Seylan Bank is Sri Lankan netball skipper Tharjini Sivalingam – the world’s tallest netballer, and considered the best player within the Asian Netballing Circuit. Swift in spotting and supporting local sporting talent, the Lankan netball queen is presently employed at Seylan Bank in ...
Former top civil servant Dr. Prathap Ramanujam has been appointed to the Board of Senkadagala Finance Plc as an independent non-executive director with effect from 1 September 2012. Dr. Ramanujam retired after 38 years of distinguished service in the public sector. He was the Permanent Secretary to several key Ministries including Tourism, Livestock Development and ...
Foreigners most bullish with net buying up 20% or Rs. 5 b; Market’s value up by Rs. 48 b between 20 July and 24 Aug. Despite original reservations by some that President Mahinda Rajapaksa shouldn’t have met with capital market stakeholders, the Colombo stock market has proved otherwise, with the most bullish being foreign investors. ...
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 ...
Fitch examines financing alternatives to the current predominant international borrowingsBy Cassandra Mascarenhas Discussing new investment opportunities and financing structures for Sri Lankan private sector entities to enter the current government dominated infrastructure financing in the country, Fitch Ratings Lanka hosted a seminar titled ‘Fitch Perspectives’ last week, featuring F...
WASHINGTON (Reuters): A trend measure of Americans signing up for new jobless benefits fell close to a four-year low last week, but weakness in a regional factory gauge showed US recovery still faces an uphill climb. Other data on Thursday gave mixed signals about the strength of an incipient housing recovery, with groundbreaking on new ...
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...
Sunil S. Sirisena has been appointed as the new Chairman of the National Savings Bank with effect from 13 August 2012. He is a senior officer in the Sri Lanka Administrative Service and prior to this, he has served as the Secretary to the Ministries of Education, Co-operatives and Internal Trade and Foreign Employment Promotion ...
Reuters: Japan’s economy expanded just 0.3 percent in April-June, half the pace expected, fuelling concerns growth will continue to flag as a rebound in consumer spending starts to lose momentum and Europe’s debt crisis weighs on global demand. The data provides further evidence of a global slowdown raising expectations in financial markets that policymakers will ...
Reuters: US employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 per cent kept prospects of further monetary stimulus from the Federal Reserve on the table. Nonfarm payrolls rose 163,000 last month, the Labour Department said on Friday, breaking three straight months of job gains ...
WASHINGTON (Reuters): Economic growth slowed in the second quarter as consumers spent at their slowest pace in a year, increasing pressure on the Federal Reserve to do more to bolster the recovery. Gross domestic product expanded at a 1.5% annual rate between April and June, the weakest pace of growth since the third quarter of ...
LOLC Group Managing Director and CEO Kapila Jayawardena and Executive Director Kalsha Upekha Amarasinghe have joined the Board of Brown and Company as Non Executive Directors. The move follows LOLC acquiring 55% effective control of Brown and Company recently via a Rs. 1.3 billion deal.Despite selling out his stake, Ajith Devasurendra remains as Non Executive ...
By a Special Correspondent A year or back from today, Sri Lankan economy had been sailing strongly amidst global economic typhoons. Most of the macro variables were reflecting peace dividends and rejuvenated hope. However, by mid 2011, the country’s trade deficit, fuelled by credit expansion was signalling early signs of an economic turmoil. Perhaps being ...
Marketing process for sales persons Under the marketing concept, the firm must find a way to discover unfulfilled customer needs and bring to market products that satisfy those needs. The process of doing so can be modelled in a sequence of steps: the situation is analysed to identify opportunities, the strategy is formulated for a ...
An important feature of the recent Sri Lanka Economic Summit, which both the Guest Speaker Gurcharan Das, Author, Columnist and Management Consultant and Keynote Speaker Dr. Kalpana Kochar, Chief Economist – South Asia of the World Bank, referred to were the opportunities presented to Sri Lanka by the ongoing process of globalisation and particularly the ...
Association of Professional Bankers (APB) – Sri Lanka, the country’s premier professional body for career bankers will hold its 24th Anniversary Convention on 13 and 14 August at the Cinnamon Grand on the theme ‘Sustainability in volatility: the bankers’ challenge’. The annual convention is APB’s key learning and development activity that brings together leading...
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 for a more enduring solution. As a result an increasing interest in Islamic finance ...
The Sri Lanka Economic Association or SLEA, the long-standing professional body of economists of Sri Lanka, has published some selected papers presented at its Annual Sessions in October 2011 in a volume titled ‘Achieving Economic Goals in the Midst of Global Challenges,’ the theme of the sessions. The volume, edited by two veteran economists – ...
CONSISTENT policies have always been a challenge for Sri Lanka, but its importance has been brought to the forefront yet again by the Sri Lanka Economic Summit that wrapped up on Thursday. Right from the onset, it was clear that the oft-repeated but rarely-listened-to issues were to dominate the three-day conference with economists, politicians and ...
By Cassandra Mascarenhas The Ceylon Chamber of Commerce-organised Sri Lanka Economic Summit kicked off yesterday, with an emphatic message to both the Government and the private sector that challenges are mounting and success as a nation will depend on a strong collective effort to be competitive. Delivering a keynote address peppered with bold remarks, World ...
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
Reuters: China, Europe and Britain loosened monetary policy in the space of less than an hour on Thursday, signalling a growing level of alarm about the world economy, although suggestions of coordinated action were played down. Of the three, the surprise move was from Beijing which lowered its lending rate by 31 basis points to ...
The Oxford Dictionary tells us that being ‘happy’ is being cheerful with feelings of pleasure or satisfaction. ‘Satisfaction’ is, in turn, when you are pleased because you have achieved something or because something has happened as you wanted it to. A synonym is being ‘content’ – being happy and satisfied with what you have. Rulers ...
Sri Lanka’s new development tagline Sri Lanka’s current development tagline has been to make it the ‘Emerging Wonder of Asia’ as originally enunciated in the ‘Mahinda Chinthana: Vision for the Future’ and reaffirmed in both the Development Policy Framework of the Government issued in 2010 and the Annual Report of the Ministry of Finance and ...
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard and Poor’s.“Standard and Poor’s reiterated what we have been saying ...