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PARIS/LONDON (Reuters): Leading members of the Group of 20 nations are prepared to trigger an emergency meeting to address soaring grain prices caused by the worst US drought in more than half a century and poor crops from the Black Sea bread basket. France, the United States and G20 president Mexico will hold a conference ...
By Nisthar Cassim The world’s leading nutrition, health and wellness company, Nestlé said last week Sri Lanka is a high growth market with strong upside in tandem with improving socioeconomic development aided by the end-of-war benefit. “We are experiencing double digit growth in Sri Lanka and see very positive prospects going forward. Our commitment to ...
Some countries make progress outside U.N. process Progress is slow towards new climate deal Shift needed from targets, penalties to standards CO2 emissions continue to grow LONDON/OSLO: Green economic growth rather than strict targets for cutting greenhouse gases needs higher priority if the world is to reach a deal to fight climate change by a ...
by Sarath De Alwis The crisis is not in our system of higher education. The crisis is in not knowing what higher education is. Arrogance of presumed superior knowledge of the policy makers and dogmatism of the teachers has precipitated a debate that reflects a pedantry of crisis proportions. We do not seem to have ...
BULAWAYO, Zimbabwe, (IPS): The Global Environment Facility (GEF) is ready to be a catalyst for transforming the way the global environment is managed, said the next CEO and chairperson of the multilateral institution, Dr. Naoko Ishii, in this interview with Tierramérica *. The GEF recognises the inseparable linkage between environmental and economic well-being, which was ...
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 ...
Airbus has decided to offer a further enhanced version of the popular A330 airliner by increasing the maximum takeoff weight capability to 240 metric tons. The 240 ton capability will be first applied to the larger A330-300 model and subsequently to the A330-200 and A330-200F. The 240 ton A330-300 will benefit from up to 400nm ...
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...
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 ...
BANGALORE (Reuters): India’s inflation may have accelerated at its fastest pace this year in May, driven by higher food and fuel prices, impeding chances of a rate cut by the RBI at its review next week, a Reuters poll showed. The wholesale price index, India’s main inflation gauge, is expected to rise 7.60 percent in ...
INSEAD, the leading international business school, has partnered with leading TMT advisory and investment firm Delta Partners to release a joint white paper that defines core emerging markets, growth drivers as well as opportunities and challenges in the global telecommunications industry. At a time when Facebook is getting ready to IPO, its focus on emerging ...
The International Air Transport Association (IATA) last week announced global traffic results for March showing that total passenger demand rose 7.6% and freight demand climbed 0.3% compared to the same month last year. Comparisons with March last year are affected by events that depressed passenger demand in 2011, including the Arab Spring, which disrupted travel ...
The International Air Transport Association (IATA) last week called upon governments to work together and with the aviation industry to maximise aviation’s ability to sustainably drive global economic development and job creation. “Governments and industry share a common interest in aviation’s success. Aviation is a business and a driver of economic and social development that .....
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 ...
IATA says outlook remains fragileThe International Air Transport Association (IATA) last week released global traffic results for February 2012 showing an 8.6% improvement in passenger demand and a 5.2% rise in cargo demand compared to the same month in the previous year. Several factors inflated February 2012 results and distorted comparisons with the year-ago period. ...
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 ...
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 ...
“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” – ...
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 ...
Etihad Airways on Monday announced it was buying 10 more Boeing 787-9 Dreamliners in a deal which will make it the largest operator of the aircraft type in the world. The airline has also ordered another two Boeing 777 Freighters for its fast growing Etihad Crystal Cargo operation. The 12 additional aircraft are valued at ...
Order increases Boeing’s 787 customer base in Middle EastBoeing and Oman Air, the Sultanate of Oman’s flagship carrier recently announced an order for six Boeing 787-8s at the Dubai Airshow. The airline completed an arrangement with Boeing and Kuwait-based leasing company ALAFCO to transfer existing orders for the six Dreamliners from ALAFCO to Oman Air. ...
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 ...
UNP Co-Deputy Leader Karu Jayasuriya The Budget lacks direction and is neither here or there. For the consumer, it is inflationary; nor does it instil investor confidence. It has a political aim but lacks an economic aim. Furthermore, it does not address the productivity of employment; nor does it address the salaries of professionals and ...
Discussion on the validity of non-military engagements of the military The war or internal armed conflict in the north and east is over; the Emergency is no more; but still the military is everywhere. The military is now engaged in peacetime police-work, whale watching, selling vegetables, agriculture, cleaning, constructions and many other non-military activities. Yet, ...
Harvard University may be America’s top-ranked national university, along with Princeton University, in US News and World Report’s latest best colleges rankings, but a competitor across the pond is now stealing some of that thunder. For the second year in a row, the United Kingdom’s University of Cambridge topped Harvard in the U.S. News World’s ...
Reuters: Anyone hoping that recent falls in commodity prices would provide a boost to powerhouse Asian economies and help lift the developed world out of recessionary danger will be disappointed. The region’s focus remains firmly on inflation. Commodities from crude to corn have slid in the last quarter, with many showing the most dramatic losses ...
With the World Bank announcing that the world economy is teetering on “a new danger zone,” it is of paramount importance for governments and financial power-houses to restore confidence through concrete policies and systematic financial planning. This is the order of the day, given the recent pessimistic report on the world economy delivered by Morgan ...
‘Remember your humanity’ is a phrase that was made famous by the Russel Einstein manifesto issued on 9 July 1955. This document is considered as the final major document that Albert Einstein signed before his death in 1955 and is quite a famous statement. The whole idea of issuing this statement has been to indicate ...
DHL, the world’s leading logistics company, and Blue Dart, part of the DHL Group, are piloting Smart Truck technology in Bengaluru, India, the first deployment of this successful logistics innovation outside Germany. Created by DHL Solutions & Innovations (DSI), the DHL Smart Truck is an “intelligent” pick-up and delivery vehicle that combines a number of ...
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