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With the rejection of the Cabinet decision proposed to resolve the problem of university academics, the issue seems to be dragging without a settlement. The lecturers’ main demands are a salary increase, increase in Government funding of the education system to 6% of GDP (Gross Domestic Product), end to political interference in education, and establishment ...
- Universities in crisis: Key learnings (Category: Business)
- Chaos in universities: A solution? (Category: Business)
- English as medium of instruction at Law College (Category: Breaking News)
- Medical education at crossroads (Category: Breaking News)
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 ...
- Achieving economic goals amidst global challenges (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- Lion leads frontier markets (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)
MP Mangala Samaraweera yesterday in a statement has jeered the recent rebound in the Colombo stock market as well as the appointment of the new Chairman at the Securities and Exchange Commission (SEC), in addition to being highly critical of the so-called mafia of investors. Following is the full text of Samaraweera’s statement: In an ...
- TISL wants Govt. to strengthen resolve against “stock market mafia” (Category: Business)
- SEC to improve CSE structure (Category: Breaking News)
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
The place isn’t a paradise for minorities but the economy is recovering By Sam Baker Asuasentinel.com: The Government of Mahinda Rajapaksa in Sri Lanka has probably botched its dealings with the United States, the European Union and the United Nations. Still, the disenchantment with Colombo may be overblown three years after the end of the ...
- Army inquiry a delaying tactic: Human Rights Watch (Category: Business)
- President calls on diplomats to counter threats from pro-LTTE Diaspora (Category: Business)
- NGOs Call on U.S. to Establish International Accountability Mechanism on Sri Lanka at UN Human R... (Category: Breaking News)
- Rejected asylum seekers abused in Sri Lanka, says rights group (Category: Breaking News)
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)
A goat’s best friend is Mervyn! The populace has been cruel to him. Ok, to the goat too, but I am talking about a man willing to be incarcerated just to liberate a hapless animal. Thankfully, the President interceded and saved the day for both. The Minister had promised to defy a Court order and ...
- The other red meat (Category: Australia, Tasmania )
- Battle of the superfoods (Category: Business)
- Mervyn Silva offers she-goat to Goddess Kali (Category: Breaking News)
- Marauding goat Billy attacks trio (Category: Australia, Victoria)
According to figures collected by PATA, international visitor arrivals into Asia Pacific destinations during May 2012 show a collective gain of 3% year-on-year. This is the second consecutive month with a declining growth rate. For the first five months of 2012, the average growth in international visitor arrivals into Asia Pacific destinations was 6% up ...
- Asia Pacific enjoys impressive tourist arrivals growth (Category: Business)
- Asia Pacific tourism records 6% growth in 2011 – PATA (Category: Business)
- PATA says international arrivals up in April but growth rate slows (Category: Business)
- Asia dominates in Asia Pacific tourism boom – PATA (Category: Business)
All Sri Lankan universities except for the medical faculties have been closed down, but for most citizens, who have observed crisis after crisis in the education sector, this latest development is nothing new. The big difference is currently it is the university teachers who are on strike
- Chaos in universities: A solution? (Category: Business)
- Cleaning university mess: Role of the academics and the State (Category: Business)
- Reform of university education (Category: Business)
- English as medium of instruction at Law College (Category: Breaking News)
Transparency International Sri Lanka (TISL) yesterday called upon the government to take necessary actions to resolve the present situation at the Securities and Exchange Commission (SEC) in a manner that will not negatively impact on market confidence.
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)
Placed amidst of wave of opportunity, today Sri Lanka is poised for exponential growth and sustainable economic development. In this context of emerging national prosperity, exports irrefutably play a pivotal role in driving the much anticipated economic progress. Exports are the main foreign exchange earners for the country and present many prospects for growth and ...
- Union Bank principal sponsor for 20th Annual NCE Awards (Category: Business)
- Mobitel sponsors Annual NCE Export Awards for 7th consecutive year (Category: Business)
- Union Bank Principal Sponsor for 19th Annual NCE Awards (Category: Business)
President Mahinda Rajapaksa left for Tehran yesterday to attend the 16th Summit of Heads of State or Governments of the Non-Aligned Movement (NAM). The President is scheduled to address the Non-Aligned Movement Summit on 30 August and hold several bilateral meetings with leaders of various countries on the sideline of the summit during the course ...
- President urges NAM member states to materialize agreements (Category: Breaking News)
- President Rajapaksa urges NAM member states to materialize agreements (Category: Breaking News)
- Iran invites Sri Lankan President to attend NAM summit (Category: Breaking News)
- Mahinda heading with 50 people to Iran (Category: Breaking News)
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)
Given first half performance, believes several 2012 Roadmap targets will be missed UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday claimed that most of the Central Bank’s 2012 Roadmap targets were likely to be missed, based on below par performance on the external trade front during the first half. ...
- Harsha renews call for swift action against NSB-TFC deal makers (Category: Business)
- Readying for a fight? (Category: Business)
- Central Bank emphatic dollars are coming (Category: Business)
- Imports swell, exports lose steam (Category: Business)
Reuters: The Central Bank believes the rupee can strengthen to around 125 per US Dollar due to high foreign inflows into the economy, the Head of the country’s monetary authority said of Monday. Since April, the Central Bank and Finance Ministry have repeatedly said the rupee should stabilise at around 125 per dollar, given the ...
- CB says no need for FX intervention (Category: Business)
- CB says rupee outlook unchanged from 125 (Category: Business)
- Pressure on rupee to ease on inflows: CB (Category: Business)
- Rupee’s value: Out goes 125; welcome 132 (Category: Business)
Inflation, hyper inflation and chronic inflation Inflation, as understood by the unsuspecting citizen, is the rising cost of prices over a period of time. This interpretation is far from satisfactory. It is high time people were educated as to the real causes of inflation. Dissecting the inflationary causes would be a difficult task for an ...
- ‘Divi Neguma’ Dept: Development catalyst, dependency creator or a white elephant? (Category: Business)
- Taming the ‘monsters’ (Category: Business)
- From poverty to sustainability in Sri Lanka (Category: Business)
- Misplaced Aspirations, The Elite And The Poor (Category: Breaking News)
Shares thoughts on sustainability in volatility and the way forward The Guest of Honour, Dato’ Charon, President and Members of the Professional Bankers’ Association, my dear friends, first of all, let me thank the Association of Professional Bankers for inviting me this evening to your 24th Convention and giving me the opportunity to share a ...
- Association of Professional Bankers’ anniversary convention on 13 and 14 August (Category: Business)
- Sustainability in volatility: The bankers’ challenge (Category: Business)
- APB to promote ‘Sustainability in Volatility’ at 24th anniversary convention (Category: Business)
- Swiss banks tout stability and secrecy to lure rich (Category: Business)
Sri Lanka and Swaziland Tuesday signed an agreement on Economic, Commercial and Technical Cooperation between the two countries following bilateral discussions held between Sri Lankan President Mahinda Rajapaksa and the visiting King Mswati III of Swaziland. King Mswati III accompanied by Queen Inkhosikati LaMahlangu and his delegation arrived in the island yesterday for a three-day ...
- Sri Lanka, Swaziland leaders hold bilateral discussions, sign agreement (Category: Breaking News)
- Sri Lanka, Swaziland leaders hold bilateral talks, sign agreements (Category: Business)
- King of Swaziland in Sri Lanka (Category: Breaking News)
- Banquet hosted in honour of King of Swaziland (Category: Breaking News)
Sri Lanka and Swaziland Tuesday signed an agreement on Economic, Commercial and Technical Cooperation between the two countries following bilateral discussions held between Sri Lankan President Mahinda Rajapaksa and the visiting King Mswati III of Swaziland. King Mswati III accompanied by Queen Inkhosikati LaMahlangu and his delegation arrived in the island yesterday for a three-day ...
- Sri Lanka, Swaziland leaders hold bilateral discussions, sign agreement (Category: Breaking News)
- Sri lanka, Swaziland sign bilateral agreements (Category: Business)
- King of Swaziland in Sri Lanka (Category: Breaking News)
- Banquet hosted in honour of King of Swaziland (Category: Breaking News)
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)
Several dual citizens as well as former expats who have settled home recently have expressed concern over the blocking of remittances abroad via Central Bank’s recent rules on NRFC accounts, a move they alleged suggests the country could be facing a forex crisis. In an announcement in mid
- CB directs single Foreign Exchange Earners Account for multiples (Category: Business)
- Rules on forex accounts relaxed (Category: Breaking News)
- Sri Lanka introduces new operational measures for forex transactions (Category: Breaking News)
- Sri Lanka has potential to double foreign remittances to $ 8 b: BOC Chief (Category: Business)
The Central Bank is expected to keep interest rates steady for a fourth straight month on Tuesday as a spike in inflation to a 42-month high complicates its efforts to bolster cooling growth. All 11 analysts polled by Reuters expected repurchase and reverse repurchase rates to be left unchanged at 7.75% and 9.75% respectively. Both ...
- Inflation decelerates (Category: Breaking News)
- Sri Lanka Inflation Rate Rises, Leaving Less Room to Hold Rates (Bloomberg) (Category: Breaking News)
- Sri Lanka Keeps Interest Rates Unchanged for Growth (Update2) (Category: Breaking News)
- Sri Lanka Keeps Interest Rates Unchanged for Growth (Update2) (Category: Breaking News)
In Sri Lanka to empower and enlighten Sri Lanka’s business community and budding entrepreneurs, Chair Emeritus and board member of the MIT/Stanford Venture Lab Gigi Wang will host a seminar titled ‘Success drivers of Silicon Valley – venture capital, investment and business opportunities for Sri Lanka’ tomorrow in collaboration with Infotechs Ideas. Speaking to the ...
- Internet pioneer and Silicon Valley insider Gigi to hold top seminar on 8 Aug. (Category: Business)
- Growth Plan for Sri Lanka (Category: Breaking News)
By Hamid Mahmood Aid is part and parcel of the development package in South Asia. The book titled ‘Foreign Aid in South Asia: Emerging Scenario; offers insights into the role of foreign aid in South Asia’s development. It covers the chronology of aid development and provides a detailed examination of South Asian countries’ adaptation to ...
- China, India score with untied aid (Category: Business)
- Aid effectiveness debate in Busan (Category: Business)
- Global mobility unaffected by financial crisis (Category: Business)
- Sri Lanka’s Asian Heritage (Category: Breaking News)
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)
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 ...
- Why Lion leads frontier (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
- Flexible exchange rates and impact on exporters (Category: Business)
- Value investors enter as speculators exit (Category: Business)
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