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Reuters: Greece claimed a major success for its bond swap offer to private creditors on Friday after it won heavy acceptance for a deal that averts the immediate risk of an uncontrolled default on its massive public debt. The finance ministry said 85.8 percent of its 177 billion euros in bonds regulated under Greek law ...
- Euro zone seals second Greek bailout worth 130 b euros (Category: Business)
- Greece, creditors strive to avoid costly default (Category: Business)
- Crisis-hit Greeks sceptical of EU rescue deal (Category: Business)
- Greece, creditors move closer to deal in race against time (Category: Business)
Benito Mussolini, the fascist ruler of Italy, during World War II, said that his brand of fascism ‘should be more appropriately called Corporatism, because it is a merger of state and corporate power’. Compare this with the dictionary definition of capitalism: ‘A system in which a country’s business and industry are controlled and run for ...
- Entrepreneur and the profit motive (Category: Business)
- The rise of State capitalism: new masters of the universe or an ominous portent? (Category: Business)
- State Capitalism: Revitalising underperforming businesses the Mussolini way (Category: Business)
- Governance - Four examples; two bad and two good (Category: Business)
Subsidies? Well yes, but make them smart subsidiesNigeria: Subsidising the neighbours Nigeria’s Central Bank Governor, Sanusi Lamidi Sanusi, had a problem. In a recent live interview with the Aljazeera TV, he said that his country had to raise the retail prices of all petroleum products to match the rising international prices, despite the violent and ...
- Treasury defends fuel revisions (Category: Business)
- Nigeria regulator announces end to fuel subsidies (Category: Business)
- CPC implications (Category: Business)
- Commendable start; now for the finish (Category: Business)
Reuters: On a recent Pakistan International Airlines (PIA) flight, water flowed from the toilets through the aisles during the entire journey from London to Islamabad. "What if it reaches some electrical wires and puts us in danger?" said one concerned passenger to another after flight attendants brushed off repeated complaints. "This could be a catastrophe." ...
- PIA fleet to be gradually renewed (Category: Business)
- First Thai Airways A380 rolls out of paint shop (Category: Business)
- SpiceJet to start Madurai-Colombo service in Sept. (Category: Business)
- Mihin Lanka launches second aircraft (Category: Breaking News)
Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...
- Stocks approach one-month low; rupee steady (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- Sri Lanka Stocks May Slump More on Rates, HSBC Private Says (Category: Breaking News)
- CB seen holding rates, SRR steady – Reuters poll (Category: Business)
Iran’s parliament said on Tuesday it was ready to impose a ban on oil exports to some European states, the country’s English-language Press TV reported. “In retaliation to the Zionist (Israel)-backed measure of the European countries to ban Iran oil, we are ready to impose a ban on oil exports to some European countries,” ...
- Iran sanctions already hitting oil trade flows: IEA (Category: Business)
- Asia’s Iran crude imports to regain levels prior to EU ban (Category: Business)
- Japan eyes guarantees for ships carrying Iran oil (Category: Business)
- Iran oil output steady despite sanctions (Category: Business)
“It is unlikely that in making his overstatement on development that the President was seeking to downplay the achievements of the past by his illustrious predecessors in the governance of the country. In the 1950s there was the Gal Oya development scheme that opened up the vast territories of thick jungle land in the east ...
- US will support resolution on Sri Lanka at HRC sessions in Geneva (Category: Breaking News)
- why is Sri Lanka opposing US-sponsored resolution to implement its own LLRC recommendations? (Category: Breaking News)
- The government, the LLRC and what civil society can do (Category: Breaking News)
- Sri Lanka: Government fears strategy of “Regime Change” through external intervention (Category: Breaking News)
Reuters: India cut cash reserve requirements for banks by 50 basis points on Tuesday to ease tight liquidity conditions, signalling a shift in policy towards reviving growth after two years of fighting inflation. With core inflation still stubbornly high, the Reserve Bank of India as expected left its policy repo rate unchanged at 8.50 percent ...
- India Central Bank leaves interest rates unchanged, cuts CRR (Category: Business)
- India’s inflation may have picked up slightly in Feb. (Category: Business)
- India’s July inflation eases; rate hike still seen (Category: Business)
- India’s inflation hits three-year low, cenbank seen unmoved (Category: Business)
Rotating Savings and Credit Associations and the Finance Business Act No. 42 of 2011Cheetu or Rotating Savings and Credit Associations (RoSCAs) are the world over a well-recognised method of savings and capital accumulation for the poor and marginalised. Advocate E.B. Wikramanayake B.A., in his Legal Dictionary for Ceylon (1948 Edition) describes a cheetu club as ...
- Unregulated microfinance - A high-risk strategy (Category: Business)
- Finance: Restrictions on use of the word (Category: Business)
- Regulation of microfinance institutions (Category: Business)
- Micro finance: As India moves forward, Sri Lanka stagnates (Category: Business)
Sampath Bank with effect from 1 January has got a new Chairman and several new youthful additions to its Board of Directors. The Bank announced on Friday that at a Board of Directors meeting held on 29 December Chairman I.W. Senanayake decided to step down with effect from 31 December. Whilst accepting this decision the ...
- Dhammika to be appointed Chairman of Sampath Bank (Category: Business)
- CB clears five new nominees to Sampath Bank Board (Category: Business)
- Qualified daughters make their way to boards (Category: Business)
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
By Dinali Goonewardene Prathilaba was telecast on Rupavahini on Sundays at 10 a.m. The TV documentary, a studio discussion on investing in the stock market was commissioned by the Securities and Exchange Commission and panellists from the stock market industry participated. These included stock brokers, research analysts, fund managers and officials from the Colombo Stock ...
- Invest In Stocks With Good Valuations (Category: Breaking News)
- Investor Day at Negombo tomorrow (Category: Business)
- SEC Investor Day goes to Matara (Category: Business)
- Investor Day in Kurunegala on Saturday (Category: Business)
Arrenga Capital Research takes a deeper look at Budget 2012 and impact on select listed companies 1. A challenging deficit target – 6.2% of GDP in 2012 I. Government revenue targeted to grow by 20.2% YoY to Rs. 1,126.1 b (14.7% of GDP) II. Total Government expenditure to rise 14.1% YoY to Rs. 1,594.9 b ...
- Highlights of the Budget 2012 proposals (Category: Business)
- Sri Lanka Budget 2012: Growth in focus (Category: Business)
- Budget bloats! (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
By Chamitha Kuruppu The Janatha Vimukthi Peramuna claims spending Rs. 265 billion on an 11-day extravaganza is intolerable for an economically ailing country like Sri Lanka. Addressing a media briefing the JVP warned that the aftermath of hosting the 2018 Commonwealth Games would not be rosy as the Rajapaksa administration predicts According to JVP Propaganda ...
- Govt. takes vengeance on private sector over pension bill – JVP (Category: Business)
- JVP accuses Govt. of crippling University system (Category: Business)
- AKD’s India visit: ‘JVP will not compromise Lanka’s security and economic interets’ (Category: Breaking News)
- JVP urges public to hold Govt. accountable for “gambling with public money” (Category: Business)
Reuters: Residents fled Thailand’s capital, Bangkok, on Thursday after authorities warned the city would soon be flooded and called a special five-day holiday to let people escape. Traffic in central Bangkok was light as the holiday began but a main road out of the city to the flood-free south was jammed. Many people were heading ...
- Thais tense as floods set to swamp more of capital (Category: Business)
- Ever-resilient Thai tourism may bounce back after floods (Category: Business)
- Thailand shores up capital as waters creep higher (Category: Business)
- Thai PM warns on prices as flood fears grip Bangkok (Category: Business)
The courage the Government has demonstrated in cancelling the CATIC deal and yet feeling secure, rather than embarrassed by it, must be recognised. It is a responsible step, a prudent decision, which will have enduring benefit both in terms of national policy and FDI strategy. This step will also earn the respect of the indigenous ...
- Sovereign Wealth Funds (Category: Business)
- Sector report (Category: Business)
- Unilever’s Pears to make millionaire children (Category: Business)
- Revamped Siddhalepa Ayuverda Health Resort opens (Category: Business)
Reuters) – European Central Bank President Jean-Claude Trichet said the European Union’s treaty should be changed to prevent one member state from destabilising the rest of the bloc, and urged stronger governance of the euro zone. “In my view it is necessary to change the treaty to prevent one member state from straying and creating ...
- S&P piles pressure on Franco-German budget plan (Category: Business)
- German FM: Greece needs sustainable debt by 2020 (Category: Business)
- Euro zone crisis heads for September crunch (Category: Business)
- Europe splits over fiscal union, UK isolated (Category: Business)
Reuters: Rahul Gandhi, heir to the family dynasty that has dominated politics in the world’s biggest democracy for generations, was trying to make himself heard in the uproar of Parliament. Looking nervous, he read haltingly from a prepared statement, criticising as “anti-democratic” a popular anti-corruption campaign led by activist Anna Hazare, whose hunger strike was ...
- Rahul Gandhi may succeed as Congress chief in weeks — report (Category: Business)
- Gandhi family loyalist Ashok Gehlot to run for Congress President (Category: Breaking News)
- Gandhi clan blamed for keeping India in poverty (Category: Business)
- India top court frees convicts in ex-PM Rajiv Gandhi’s killing (Category: Breaking News)
Reuters) – China’s trade surplus fell sharply in August as exports pulled back from a record high and imports jumped, indicating the world’s second-largest economy is feeling the pinch from weaker global growth while domestic demand remains resilient. China’s exports rose
- China January trade surplus soars as imports crumble (Category: Business)
- China swings to surprise trade surplus in March (Category: Business)
- Asia sizes up threats from faltering Europe, U.S. (Category: Business)
- China growth calls ease as export outlook darkens (Category: Business)
JACKSON HOLE: Central bankers gathered at an annual retreat in Jackson Hole, Wyoming, this weekend had a message for political leaders: monetary policy alone can’t keep the global expansion going. Federal Reserve Chairman Ben S. Bernanke urged adoption of “good, proactive housing policies” to reverse the depressed US real estate market and warned lawmakers to ...
- Bernanke defends low rate policy for weak economy (Category: Business)
- Fed officials take wait-and-see approach on stimulus (Category: Business)
- Fed launches QE3, bets big to rescue US economy (Category: Business)
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
The Economist Intelligence Unit: Asia's consumers are demanding and difficult to please. But they are getting richer, and they might help to save the world from a protracted recession, as well as bring about a long-overdue economic rebalancing. For Western multinationals, Asian consumer markets offer exciting growth opportunities. Despite the challenges of reaching Asian consumers ...
- World economic power shifting back to Asia from the West (Category: Breaking News)
- No inflation respite for Asia despite fall in food, fuel prices (Category: Business)
- Southeast is Asia’s safe haven as China, India stumble (Category: Business)
- Reflections on the global economic landscape (Category: Business)
Banks’ Profits Up 111% The banking industry achieved a considerably high level of profits in 2010. Profit after tax amounted to Rs. 57.5 billion last year, a 111% growth in comparison to a Rs. 27.2 billion profit in 2009. The significant growth in profitability was mainly attributed to a higher increase in fee-based income, a ...
- Market Expects Rate Hike (Category: Breaking News)
- Ceylinco Insurance announces 65% dividend (Category: Business)
- Rupee Strengthens, But Illiquid Status Worsens (Category: Breaking News)
- JKH forges with solid growth (Category: Business)
by Darini Rajasingham Senanayake On 4 February, Sri Lanka celebrated its 63rd birthday. After nearly three decades of armed conflict, it is now one of Southasia’s calmest and fastest-growing countries. Its social indicators, apart from the northeast zone, remain the...
- Military in Sri Lanka encroaching on civilian control of government (Category: Breaking News)
- Sri Lanka military extending its influence over civilian affairs, things are not looking good fo... (Category: Breaking News)
- Sri Lanka’s North: Rebuilding under the Military (Category: Breaking News)
By Malathi De Alwis On 18 May 2009, Sri Lanka officially declared the end of a 30-year civil war fought between. Sri Lankan government forces (GoSL) and Tamil militants, namely the Liberation Tigers of Tamil Elam (LTTE). Such a sea...
- India’s Chinese Bogeymen (Category: Breaking News)
- Cuba out voted at UN Human Rights Council over Sri Lanka (Category: Breaking News)
- China and India playing the great game in Sri Lanka (Category: Breaking News)
- For India, Sri Lanka is not indispensable, but for Sri Lanka, India is indispensable (Category: Breaking News)
By Dr.Harsha de Silva Mr. Speaker, I am glad that important Ministers and Members from the Government side have come to listen to this speech. I must first state that I am happy to have been able to join the...
- "'Mahinda Chinthanaya’ has moved to ‘Mahinda Hinsanaya’ and ‘Mahinda Vindanaya'" (Category: Breaking News)
- Sri Lanka In Dire Straits (Category: Breaking News)
- Opposition alleges govt. conspiracy to oust CB Governor (Category: Breaking News)
- Actually, The Foreign Ministry Certainly Seems Foreign Now (Category: Breaking News)
by Ranil Wickremesinghe By the 4th century BC, Asia had begun its first cycle of economic growth and power. This was the reason why Alexander the Great decided to travel eastward to establish an empire. At that time there was...
- Asia economy: Consumers to the rescue? (Category: Business)
- Economic power shifting to Asia from the West? (Category: Business)
- No inflation respite for Asia despite fall in food, fuel prices (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
by Dr.Rohan Gunaratne It is my distinct privilege to deliver the 13th Deshamanya Professor Nandadasa Kodagoda Oration this evening. Professor Kodagoda was an intellectual giant of our times. Born in Ahangama in the Galle District in 1929, he was educated...
- "I am most Concerned about the relationship being built between the TGTE and the Govt of South S... (Category: Breaking News)
- Tamil diaspora Organizations Desperately Attempting to keep Concept of Tamil Eelam Alive (Category: Breaking News)
- Ex-LTTE Chief "KP" speaks out: An Interview With T.Selvarasa Pathmanathan alias KP (Category: Breaking News)
- Sri Lanka Using Sama, Dana, Bheda and Dand strategy against Tamil Diaspora (Category: Breaking News)
by Pearl Thevanayagam The recently concluded war with all its human miseries such as loss of lives, widowhood, displaced and maimed civilians, orphans, destruction of properties and denigration of agricultural lands and the disruption to normal life throughout the island...
- Reality check for doping in sport (Category: Technology)
- Letter: An open letter to anti-maskers (Category: USA, North Dakota)
- Letter: An open letter to anti-maskers (Category: USA, North Dakota)
- How the Amazon rainforest is being saved (Category: Technology)
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