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There were some interesting bits of news in the papers about a week back, with some stories having a certain thread running through them. The US Ambassador Patricia Butenis visited the Coca Cola plant in Biyagama. The British High Commissioner John Rankin visited Unilever Sri Lanka’s newly built factory in Horana and the new Chinese ...
Economic think tank andndash; Pathfinder Foundation in its latestandnbsp; Economic Flash has pointed out that independence of Employment Provident Fund (EPF) should be ensured when andnbsp;investing in the Colombo Stock Exchange (CSE) adding that necessary safeguards should be in place to protect public interest.
Reuters: The U.S.-Pakistani relationship remains challenging for both despite the reopening of Pakistani land routes to resupply U.S. troops in Afghanistan, U.S. Secretary of State Hillary Clinton said on Sunday. Clinton last week apologised for a November NATO air strike that killed 24 Pakistani soldiers and Islamabad responded by reopening the overland supply routes that ...
Reuters: A U.S.-China tug-of-war over Southeast Asian influence is proving to be a critical test for Washington’s “pivot” East as Beijing strengthens its economic and military clout in its own backyard. Countries of the Association of South East Asian Nations (ASEAN), one of the world’s fastest growing regions, are weighing up how to play their ...
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 ...
Tourism is very much in the news and targets are being bandied around. A magic number plucked from the air of 2.5 million tourists by 2015/16 is often quoted. All this suggests that tourism will see a sustained explosion in growth. What is the truth? Is it fast growth or slow burn? What are the ...
LONDON (Reuters): Gold prices eased a touch on Monday after a sharp rally the previous session, surrendering gains along with the euro and other commodities as a bounce lent to the financial markets by European Union plans to tackle the debt crisis petered out. Gold surged 3 percent on Friday, its biggest one-day rise since ...
The Sri Lanka Press Institute has organized a panel discussion on preventing human smuggling and trafficking from5pm -6.30pm on Monday 2nd July 2012 at the auditorium of the Sri Lanka Press Institute #96, Kirula Road Colombo-05. The panelists include: Mrs.Kamalini de Silva-Secretary, Ministry of Justice, Managala Randeniya-General Manager ,Sri Lanka Bureau of Foreign Employment, Ajith ...
Sri Lanka's capital market watchdog- Securities and Exchange Commission (SEC) has sought views on plans to grade initial public offers through a rating agency and fund independent research, following best practices in other markets.
Reuters: Asian shares jumped and the euro surged more than 1 percent on Friday after European leaders agreed that euro zone banks could be recapitalised without adding to government debt, soothing fears over growing credit strains in Italy and Spain. As the dollar retreated on the back of the euro’s sharp rebound, dollar-based oil, copper ...
Case study Middle East Sri Lanka is one of the most sought-after tourist destinations in the world. It is surrounded by the Indian Ocean strategically located between West Asia and South East Asia and has been an important stop on the silk route or the Silk Road. It has all requirements to be one ...
The Standard and Poor’s (S&P) Rating Services assigned a score of 8 (very high risk) to the Sri Lankan economy and banking industry last week. The role of ratings agencies in the lead-up to the global financial crisis (2008) was certainly highly questionable. There are also issues related to their accountability. Despite this, and setting ...
Reuters: India is optimistic it can seal a free trade deal with the European Union and is urging its negotiating partner to settle the details of an agreement it says would benefit both their stumbling economies. The two sides have disagreed over duties on car imports – India’s tariff on European cars being nearly 10 ...
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
Market’s value up Rs. 23 b, ASI back again in 5,000-points level The Colombo stock market produced a confident rebound yesterday driven by high net worth investors as well as institutions picking up low valued opportunities. The market’s value rose by Rs. 23 billion, slightly lower than Friday’s gain of Rs. 26 billion. The rise ...
The global financial crisis of 2008/09 has not sent migrant workers streaming back home, despite worsening employment prospects and anti-immigration rhetoric in some destination countries, says a new book on migration and remittances, published by the World Bank last week. In fact, migrants may have mitigated some of the pain of the crisis as they ...
CANBERRA (Reuters): Australia will create the largest network of marine parks in the world, protecting waters covering an area as large as India while banning oil and gas exploration and limiting commercial fishing in some of the most sensitive areas. Australia’s marine reserves will increase from 27 to 60 under the new scheme, covering more ...
Positive macro news and rumoured overhauling of SEC among other State entities trigger buying spree; some analysts insist rebound is due to attractive pricingThe Colombo Bourse on Friday shot up by over 100 points before losing some momentum, with the earlier development being linked by some analysts to positive macro news and a rumoured overhauling ...
The crowd was immense and must have been one of the largest at the Royal complex. Past players/ captains, old boys, well wishers and those that like to be seen at these events although they are neither of the above were also there wide eyed and keeping a quick glance at the big screen to ...
HOUSTON, Texas (AFP): Financier and cricket mogul Allen Stanford was sentenced to 110 years in jail for a $7 billion Ponzi scheme, closing the book on the flamboyant ex-tycoon’s stunning fall from grace. “This is one of the most egregious frauds ever presented to a trial jury in federal court,” Judge David Hittner said in ...
Reuters: Myanmar's Nobel Peace Prize winner Aung San Suu Kyi halted her news conference in the Swiss capital Bern on Thursday evening after vomiting and excusing herself saying "I'm so sorry". Suu Kyi, 66, who minutes before complained of jet lag and tiredness, had arrived in Geneva late on Wednesday at the start of her ...
Recognised as one of the best-performing publicly-traded corporations in Massachusetts Virtusa Corporation, a global IT services company that offers a broad range of information technology services, including IT consulting, technology implementation and application outsourcing, today announced that it has been named to the Boston Globe’s Globe 100 List, a prestigious ranking of t...
Historically, capital markets have played an important role in the development of market economies and therefore the development of efficient regulation of securities too has become increasingly important, Securities and Exchange Commission of Sri Lanka (SEC) Chairman Thilak Karunaratne said in the SEC Annual Report 2011.
Historically, capital markets have played an important role in the development of market economies and therefore the development of efficient regulation of securities too has become increasingly important. While fostering the development of the economy, the capital markets also play an important equalising role. Viz – it attracts the participation of a large number of ...
Reuters: Oil prices near $100 a barrel are still a threat to a slowing global economy that is likely to consume less fuel than the International Energy Agency (IEA) had forecast, the IEA’s executive director said on Tuesday. Brent crude this week dropped to a 16-month low below $96 a barrel before recovering to around ...
The NSB/TFC deal and the General Recent events in Sri Lanka have reconfirmed that though seemingly power may be unlimited, there are in reality constraints which limit the options those in power have. As proof of this fundamental reality, the first event is the purchase by the National Savings Bank (NSB), a State-owned entity, whose ...
Reuters: Indian export data released on Friday confirmed a sharp slowdown in foreign trade, adding to the woes of Asia’s third-largest economy and piling more pressure on the weak coalition government to take steps to boost economic growth. Indian exports inched up 3.23 percent to $24.5 billion in April from a year earlier after falling ...
The Central Bank yesterday denied the Reuters report (also published in the Daily FT yesterday) which said the target of the rupee had been shifted to Rs. 132 levels from the previous Rs. 125. Despite Central Bank denial, Reuters didn’t re-file a corrected story which it usually does if the news agency had made a ...
By Cassandra Mascarenhas The biggest mobile forum in the region, the South Asian Mobile Conference was held for the third year in Colombo earlier this week, bringing together some of the world’s top experts in the mobile sphere, developers of the next generation, researchers, academics and policy makers, creating a platform for a chance of ...
Every day we wake up to news from the economic front – and that is the war we declared after the conclusion of the 30-year conflict and with some zeal – and sometimes the figures and news are not quite enthralling, maybe to some extent we should take up the same battle positions here too. ...