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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 ...
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 ...
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 ...
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 stock market’s misery worsened yesterday with the benchmark All Share Index (ASI) dipping below the psychological 5,000 points level whilst year to date a staggering Rs. 371 billion in value has been wiped off. The ASI yesterday dipped by 1.5% or 74.66 points, to close at 4,935.01, the lowest close in 22 months or ...
The need for an integrated program on a war footingIn 2008, eight prizewinning economists were asked to list the type of projects which would do the most good for the most number of poor people, if they had an imaginary $ 75 million to spend. Half of their proposed projects involved nutrition. There has been ...
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 ...
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 ...
Reuters: U.S. manufacturing grew at its fastest pace in six months in December, capping a late-year upswing, but a European slump and rising oil prices posed threats to the U.S. economy in the new year. The Institute for Supply Management’s index of national factory activity hit its highest level since June, coming in above forecasts ...
Plastic crates: Universally used in agri markets In 2002, the writer had a chance of visiting a few farms in Czech Republic, some 200 kilometres away from its capital, Prague. They were all medium sized farms owned by private individuals producing such products as vegetables, fruits and honey. At the time of the writer’s visit, ...
The Colombo stock market saw a dull day’s trading with turnover recording Rs. 664 million and the All Share Price Index falling 0.52% to close below the psychological support level of 6,000 at 5,965 while the Milanka Price Index lost 0.05% to register 5,228. The top turnover contributor list was dominated by fundamentally sound counters ...
By Cheranka Mendis With mobile penetration directly linked to increasing economic growth in a country, Sri Lanka with its bullish growth prospective stands to benefit heavily from the ever-expanding ICT and telecommunication sector. Alcatel-Lucent Asia Pacific President Rajeev Singh-Molares who was in Sri Lanka for a brief visit yesterday told the media that a World ...
Reuters: G20 finance chiefs and central bank heads meet in Paris on Friday urgently needing to find a convincing solution to a deepening euro zone debt crisis that has fanned fears of a global slide into recession. A source at the French finance ministry — which is battling to flesh out the bones of a ...
By Cheranka Mendis Asia, which is estimated to contribute 52 per cent to the world’s GDP by 2050, has turned back a 260-year spell of declining contribution to the global GDP within a 80-year period and is now poised for better growth. Central Bank Governor Ajith Nivard Cabraal addressing the Asian Bankers Association General Meeting ...
Reuters:U.S. employment growth ground to a halt in August, reviving recession fears and piling pressure on both President Barack Obama and the Federal Reserve to provide more stimulus to aid the frail economy. For the first time in nearly a year the economy failed to create new jobs on a net basis according to the ...
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