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The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
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 ...
The global escalation of commodity prices in the latter part of last decade impacted Sri Lanka’s rice market, with retail prices showing sharp increases for the consumer. The regulatory forces with a ceiling on consumer prices and guaranteed price for paddy did alleviate this problem to some extent. Today it has taken a different turn ...
On Friday (7) afternoon, the eve of provincial council elections in three provinces, a certain gathering took place at 101, Rosmead Place, which houses the corporate offices of Democratic National Alliance (DNA) National List Parliamentarian, Tiran Alles. Consultations that lasted for hours, took place between Alles and UNP Deputy Leader Sajith Premadasa and a few ...
By Shanuka Tissera Amendments to the Petroleum Products (Special Provisions) Act have been finalised and approved by the Attorney General. It is expected that both bills will be presented to Parliament shortly for enactment. Pending the enactment of new legislations, the Cabinet of Ministers has appointed the Public Utilities Commission of Sri Lanka (PUCSL) as ...
Brand Finance’s Annual Global Nation Brand Analysis Prologue Over the past three years, nation branding has received an enormous amount of coverage in Sri Lankan newspapers. Whilst some of these are based on the need to provide a marketing approach to building a nation, and its brand; many of the articles focus on developing a ...
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 ...
Reuters: State-owned Ceylon Petroleum Corporation (CPC) on Saturday took Vitol, the world’s largest oil trading firm, off its supplier list, believing diesel supplied by the firm had damaged vehicles. Vitol rejected the allegation and said the cargo in question was tested in accordance with international standards by CPC inspectors before it was discharged. Petroleum Minister ...
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 ...
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 ...
Four examples; two bad and two goodThe website of the London Economist newspaper has a reference to an official of a certain country referring to a journalist in words similar to what follows – I have substituted words which would be appropriate to an officer and a gentleman addressing a lady, for what was actually ...
Maintaining that the Government was on the right course, Treasury Secretary Dr. P.B. Jayasundera yesterday urged the private sector to adapt as well as tap unprecedented growth potential, harnessing supportive policies and other measures. Delivering the keynote at the first plenary session of the Ceylon Chamber of Commerce Sri Lanka Economic Summit, Dr. Jayasundera in ...
Following is the full text of Secretary to Ministry of Finance and Planning and Ministry of Economic Development Dr. P.B. Jayasundera’s keynote address titled ‘Sri Lankan Economy in Perspective’ at first plenary session of the Ceylon Chamber of Commerce Sri Lanka Economic Summit yesterday under the theme ‘Positioning Sri Lanka in the Global Economy’ Chairman, ...
telegraph.co.uk: Sri-Lankas-former-army-chief-Sarath-Fonseka-calls-for-Arab-Spring-style-uprising.htmlGeneral Sarath Fonseka, the former Sri Lankan army chief jailed for running as an opposition candidate, has declared he will lead an Arab Spring-style uprising to force the government from office. Outlining his return to active politics after he was released from jail in May following pressure fro...
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 ...
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 ...
UNP MP Karu Jayasuriya in a statement yesterday condemned the attack on Friday on a JVP meeting in Katuwana area in Hambantota district killing two persons and charged that the Government was thriving via goons. Following is the full text of Jayasuriya: A situation is emerging in the country where, permission is needed from goons ...
Lanka IOC has raised the price of diesel. It has for some time been asking that it be allowed to determine its own prices. But unfortunately it caters to too small a market share and cannot afford to get too far out of step without losing business. Now that world oil price is slipping, there ...
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
With highest-ever top and bottom line performance premier blue chip JKH says knowing exactly who were are, what we stand for and where we are headed makes all the differenceI am pleased to present the Integrated Annual Report, and the Statement of Accounts, for the Financial Year ended 31 March 2012. The Report encapsulates the ...
I refer to your ‘Letter to the Editor’ on 31 May 2012. It is surprising that an economist of Dr. P B Jayasundera’s calibre and experience would need to be told that protectionism is not the right tool for increasing local production and exports. However, when I saw the name of the author of the ...
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
Much has been spoken of the Sri Lankan economy by different bodies including the guardians of the economy (the Central Bank and Government Treasury). There is constant backlash to the Government bringing out historical events while portraying a very bleak future, although the Government has taken corrective action to address any major economic catastrophe. The ...
By Mani Shankar Aiyar It is curious but true that although from the time of Mahatma Gandhi leading the struggle for Independence to the present day there has been extensive recognition in India of the imperative of effective Panchayat Raj1 (local self-government) for both deepening India’s democracy and making its development processes “inclusive”, that is, ...
Reuters: Sri Lanka will face a challenge in meeting this year’s budget deficit target as the recent monetary and fiscal tightening measures may hurt revenue growth, the island nation’s central bank chief told Reuters on Monday. The $59 billion economy has agreed with the International Monetary Fund (IMF) to target a budget deficit of 6.2 ...
Sri Lanka will continue Iran crude, but will have to reduce Sri Lanka indirectly penalised by US sanction – Basil Reuters: Sri Lanka could trim Iran crude imports up to 20 per cent in the face of US sanctions, the island nation’s economic development minister said on Tuesday as it had taken strong measures to ...
UNP MP Dr. Harsha de Silva yesterday charged that the Government and the Central Bank seriously lacked credibility, whilst the people were being taken for a ride with falsehood. He alleged that a few months ago the Government, especially the Central Bank, was hoodwinking the masses saying the economy was robust and fiscal and monetary ...
COLOMBO (Reuters): Sri Lanka’s central bank will have room to raise interest rates by at least another 50 basis points if April trade and inflation data show signs of stabilizing, the treasury secretary said on Wednesday. “Since we have already raised policy rates by half a percent (in February), maybe another 50 basis points upward ...