Reuters: Chinese Premier Wen Jiabao cut his nation’s 2012 growth target to an eight-year low of 7.5 percent and made boosting consumer demand the year’s first priority as Beijing looks to wean the economy off its reliance on external demand and foreign capital. He lowered the target from a longstanding annual goal of 8 percent, ...

COPENHAGEN (Reuters): Danish shipping and oil group A.P. Moller-Maersk A/S said last week its 2011 net profit fell by more than a third, hit by losses in container shipping, and warned 2012 group results would see a further decline. The group said its 2012 oil and gas result would be significantly below the 2011 result ...

United National Party blames at present government is facing major economic crisis in the country.

Reuters: Brazilian President Dilma Rousseff slammed rich nations on Thursday for unleashing a “tsunami” of cheap money that threatened to “cannibalize” poorer countries such as her own, forcing them to act to protect struggling local industries.  Rousseff’s words amounted to some of the highest-profile criticism to date of efforts by the European Central Bank, th...

Reuters: Leading economies told Europe it must put up extra money to fight its debt crisis if it wants more help from the rest of the world, piling pressure on Germany to drop its opposition to a bigger European bailout fund.  Euro zone countries pledged on Sunday, at a meeting of finance leaders from the ...

By: Surendra Ajit Rupasinghe In the mid nineteen eighties, the Philippines was rocked by a sustained people’s resistance movement that finally deposed of the hated and corrupt dictator, Ferdinand Marcos, who had to flee the country in a US Air Force helicopter. The Catholic Church, representing the majority of the people, played a critical role ...

BEIJING (Reuters): A property sector downturn and slumping global demand may knock China’s economy into a hard landing in 2012, a senior government economist told Reuters, putting more pressure on Beijing to speed up economic reforms and to open up the market. The economy is not just slowing but is also haunted by over-investment that ...

Mahinda Chintanaya turns up to Death Chintanaya. At present country is facing major financial crisis due to this people are facing difficulties to cook milk rice on Sinhala Tamil New Year said the leader of United Socialist Party Sirithunga Jayasuriya.

Palestinian President Mahmoud Abbas Sunday received the representative of Sri Lanka, Member of Parliament Namal Rajapaksa, in Ramallah, and informed him of the recent developments in the peace process. Abbas also noted the current crisis in the peace process due to the Israeli refusal to recognize the 1967 borders of the Palestinian state and to ...

Reuters: China’s central bank cut the amount of cash banks must hold in reserves on Saturday, boosting lending capacity by an estimated 350-400 billion yuan in a bid to crank up credit creation as the world’s second-biggest economy faces a fifth successive quarter of slowing growth. The People’s Bank of China (PBOC) is on the ...

President Mahmoud Abbas Sunday received the representative Member of Parliament Namal Rajapaksa, in Ramallah, and informed him of the recent developments in the peace process, the Palestinian news agency reported. The website reported that Rajapaksa conveyed a letter to Abbas from the Sri Lankan President Mahinda Rajapaksa, in which he stressed the depth of the bilateral relations between Sri Lank...

The Sports Minister has assured the payment of salary arrears of the national cricket team before the 28th of this month.   Some delay was experienced in the payment of the monthly salaries of the national cricket team as Sri Lanka Cricket was embroiled in a financial crisis in the past

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will hold a one day workshop on the implementation of an integrated risk management framework on Tuesday, 6 March at the Galadari Hotel. Titled ‘Developing and Installing an Integrated Risk Management Framework’ it will be conducted by a top Australian risk management expert. Edmund ...

Increasingly, companies and leaders will be assessed not only on immediate results but also on long term impact – the ultimate effects their executive actions have on social wellbeing. This trend has been coming in small waves for years, but is now surging after the financial crisis

BMI’s prediction of a second devaluation of the Sri Lankan rupee played out on February 14, with the currency ending the day at LKR120.13/US$ – marking a 5.4% drop from when we called such a move in our online service on January 30. At one stage on February 15, the rupee diced with a record low of LKR120.50/US$, a level last seen in early 2009, when Sri Lanka was facing a crippling financial crisi...

By Cassandra Mascarenhas Rewarding the most transparent and accountable business entities in Sri Lanka’s corporate sector, the annual ACCA Sustainability Reporting Awards 2011 crowned John Keells Holdings, Aitken Spence Hotels Holdings and HDFC Bank as winners in the large, medium and small sectors respectively yesterday. Janashakthi Insurance was also felicitated for conforming to reporting...

Reuters: China will continue to invest in euro zone government debt, the country’s central bank governor said on Wednesday, while calling on Europeans to produce more attractive investment products for China. Zhou Xiaochuan admitted that China and other emerging nations like Brazil, Russia or India were waiting for the right time to help the bloc, ...

The theme of World Consumer Day this year, 15 March 2012, is very opportune, interesting and timely. It is our money, our rights – campaigning for real choice in financial services. There is a doubt whether your money is really yours because it is managed by others. Your money is managed by the Central Bank ...

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

Reuters: Japan’s economy shrank a bigger-than-expected 0.6 percent in October-December, hurt by slowing global growth, Thai floods and a strong yen, casting doubt about expectations that growth will resume this quarter as Europe’s debt crisis clouds the outlook. Domestic demand also weakened in a worrying sign that the economic boost from rebuilding the country’s earthquake-deves...

In the event of an insolvency of an insurer, the winding-down process is stable that does not pose a systemic risk. The failure of an insurer does not require the same government reaction as failures in the other financial service sectors, says leading international insurance think tank, The Geneva Association, in a new report for ...

Reuters: Empire State Realty Trust, the real estate investment trust that owns New York landmark Empire State Building, filed for an initial public offering of up to $1 billion of its Class A common stock on Monday. In November, Malkin Holdings — which owns and supervises the iconic tower — had said it would likely ...

Etihad Airways, the national carrier of the United Arab Emirates, last week reported a full year EBIT of US$137 million, on revenues up 36.0% to US$4.1 billion (2010: US$2.98 billion). The results included earnings before interest, tax, depreciation, amortisation and rentals (EBITDAR) of US$648 million, with a net profit of US$14 million. The record result ...

(Srilankamirror) - Warning that the country will soon face a financial crisis as well, UNP national organizer Daya Gamage has called for a united effort to revive the country’s economy from its present abyss. Enough lies have been told to the people, and it is time they are told

Reuters: A new guessing game is about to begin: will China’s incoming generation of leaders show more courage than the current incumbents in tackling deep economic imbalances that threaten to bring growth to a sudden stop? The question, easier to frame than to answer, is critical for the world economy. China has accounted for about ...

Not a day passes by without bad news on the economic and financial front. Globally, we seem to respond to these challenges with more and more ‘band-aid and plaster,’ when what we need is ‘surgery and soul searching’. The fact that we are living way beyond our means (economically and ecologically) is the root cause ...

Colombo International Tea Convention discusses trade and marketing of the beverage By Cheranka Mendis Nestled in the dynamic Asian region with a hot beverage to its name, Sri Lanka could benefit well from becoming a ‘tea hub’ in the future, Commonwealth Secretariat Economic Affairs Division Former Director Indrajit Coomaraswamy said. Addressing the Colombo International Tea ...

Despite faltering prospects for the world economy, globalisation is still increasing among a majority of the world’s 60 leading economies as they so far avoid descent into protectionism. However, 90% of business executives expect to see an increase in protectionist measures if the global economy slides into a double-dip recession, says a report released today ...

Reuters: Federal Reserve Chairman Ben Bernanke on Thursday defended the U.S. central bank’s policies against charges from Republican lawmakers they risked sparking inflation, saying the economy still needs plenty of support. Testifying before Congress, the Fed chief was repeatedly thrown on the defensive as he parried critiques from Republican lawmakers over the Fed’s zero interest ...

Reuters: Defaults by Asian companies are likely to rise this year as the economic environment deteriorates and credit becomes tighter with European lenders reducing their exposure to the region, ratings agency Moody’s Investors Service said on Thursday. “Asian sectors most vulnerable to adverse policy tightening, cyclicality, and excess capacity include Chinese property developers, as ...