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Reuters: Asian shares crept up on Monday with expectations rising that weak U.S. jobs data would prompt the Federal Reserve to announce fresh stimulus and Europe will make further progress in its debt crisis management this week, overshadowing soft Chinese data. Trade data released on Monday showed China’s exports in August grew slightly less than ...
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 ...
By Chamitha Kuruppu The Janatha Vimukthi Peramuna (JVP) on Wednesday stated that the time has come for the public to “stand against the irresponsible decisions and unwise acts of the Finance Minister and the Central Bank Governor that leads this country into an economic downfall.” President Mahinda Rajapakse as the Minister of Finance and Central ...
Reuters: China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund said in a report on Wednesday that urged further reform and currency appreciation to rebalance growth and reduce risks. The report said economic reforms
Sri Lankaandrsquo;s Banking Watchdog andmdash; Central Bank said with the successful completion of the US$ 2.5 billion Standby Arrangement (SBA) facility extended by International Monetary Fund (IMF), the country now has sufficient funds, but would like to have an elite anchor in the alternative
Sri Lanka will begin talks for fresh loans with the multilateral donor body- International Monetary Fund (IMFF) for an 'Extended Fund Facility', countryandrsquo;s banking watchdog- Central Bank of Sri Lanka, said following the receipt of the ninth and final tranche of US$ 2.5 billion Stand
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 ...
Reuters: Disgraced former IMF chief Dominique Strauss-Kahn and his wife have separated, as his legal battles run on over a New York sex assault case and his alleged involvement with a prostitution ring, weekly magazine Closer reported on Thursday. Anne Sinclair, a wealthy heiress who recently re-launched her media career as a news editor at ...
What is corporate governance? According to the World Bank Corporate governance is “the system by which companies are directed and controlled”. It involves the balance of powers among three key corporate constituencies: the board of directors, which is charged with monitoring, overseeing, and guiding the company; the shareholders, who invest their funds in the company’s ...
Reuters: The International Monetary Fund’s bid to win a big boost in funding to handle the euro-zone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash. Brazilian Finance Minister Guido Mantega
Reuter: The International Monetary Fund said on Wednesday it had raised $320 billion so far in a bid to boost its firepower to deal with the euro zone debt crisis, with Poland and Switzerland joining the effort. IMF Managing Director Christine Lagarde said she had received commitments of $34
REUTERS: Global growth is slowly improving as the US recovery gains traction and dangers from Europe recede, but risks remain high and the situation is very fragile, the International Monetary Fund said on Tuesday. Another flare-up of the eurozone sovereign debt crisis or sharp escalation in oil
The Janatha Vimukthi Peramuna (JVP) spokesman and parliamentarian Anura Kumara Dissanayaka in an interview with the Daily FT critiques the on-going sessions of the UN Human Rights Council (UNHRC), the state of bad governance, deteriorating law and order and the economic crisis in the country. Following are excerpts from the interview. Q; What are your ...
Reuters: A planned referendum in Ireland and a German court ruling cast new uncertainty on Tuesday over efforts to overcome the euro zone’s debt crisis, just when a flood of central bank money appeared to be calming financial markets. Ireland’s prickly electorate, which has twice voted “No” to European Union treaties before reversing itself, will ...
LONDON (Reuters): Consumer confidence jumped in the United States at the end of last year but deteriorated in struggling euro zone countries as policymakers failed to get control over the region’s debt crisis, a survey showed last week. Global consumer confidence rose slightly from the third quarter, according to the Nielsen Global Consumer Confidence Index, ...
TOKYO: Asian shares and the euro fell on Thursday, sharply reversing the previous day’s rally as optimism was dashed by another delay in cementing a crucial bailout for stricken Greece, underscoring how far away Europe is from resolving its debt crisis. After a three-hour teleconference between euro zone finance ministers, questions remain over the euro ...
(Bloomberg): Sri Lanka doesn’t need to further tighten monetary policy for now even though an increase in fuel and transportation costs and a weakening currency may stoke inflation, the head of the central bank said. The central bank’s rate increase earlier this month will have a “demand-driven impact” and help moderate inflation, its Governor Ajith ...
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 ...
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
Monetary Fund have been exasperated by a string of ...
BUDAPEST (Reuters): More than 100,000 people rallied on Saturday in a show of support for the embattled Hungarian government, as it prepares to compromise in a bitter row with the European Union to secure a vital loan. Labelled a “March of Peace” the demonstration was by far the largest rally since the government took power ...
MEXICO CITY (Reuters): Group of 20 nations agreed to push Europe to take extra steps to resolve the debt crisis on Friday as they inch toward a deal to boost the International Monetary Fund’s firepower. Mexico Deputy Finance Minister Gerardo Rodriguez said talks between G20 officials
Reuters: The International Monetary Fund is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis, but the United States and other countries are throwing up roadblocks. The United States and Canada
Reuters: Greece goes head to head with its creditors on Wednesday in a renewed attempt to break a deadlock in negotiations to slash the country’s debt and stave off default. International private sector creditors represented by the Institute of International Finance IIF.L were set to meet the government in the afternoon. Talks broke down on ...
International Consultants Chairman Ranjiv Goonawardena had kindly invited the Sri Lanka Tourism Promotion Bureau to participate by showcasing the great opportunity that Sri Lanka has to offer, at the Islamic Real Estate Finance (IREF) Summit and Gala Dinner Awards Ceremony of which it was a sponsor. International Consultants sponsored for the second year the ninth ...
Following is the address delivered by Senior Minister for International Monetary Cooperation Dr. Sarath Amunugama at the fourth South Asia Economic Summit (SAES IV) Plenary Session: In the aftermath of the global economic crisis, there has been a noticeable shift in economic clout, moving from the USA and the debt-plagued countries of the Eurozone, to ...
Reuters: Euro zone leaders struck a deal with private banks and insurers on Thursday for them to accept a 50 percent loss on their Greek government bonds under a plan to lower Greece’s debt burden and try to contain the two-year-old euro zone crisis. The agreement was reached after more than eight hours of hard-nosed ...
Qatar’s economic growth is expected to drop sharply to 5.1 percent in 2012, down from a projected 15 percent for this year due to receding hydrocarbon expansion, the Gulf state’s development planning authority GSDP said on Tuesday. “The GSDP foresees a sea change in the economy’s dynamics in 2012,” the General Secretariat for Development Planning ...
Sri Lanka Economic Association Conference – Key takes at the inauguration By Dinali Goonewardene The Government in addition to domestic constraints faces a series of external and global constraints and the Sri Lanka Economic Association at its annual sessions from 13-14 October 2011 discussed this under the theme ‘Achieving National Economic Goals Amidst Global Challenges’. ...
BEIJING (Reuters): China urged the European Union on Monday to deal with its debt crisis as soon as possible and prevent contagion from spreading, as the country’s number four-ranked leader arrived for a visit of the continent, including Greece. “We hope that the EU countries concerned will reach a comprehensive settlement plan as soon as ...