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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 ...
- Way out to fix the sick external sector: Getting back to IMF’s fold a must now (Category: Business)
- Commendable start; now for the finish (Category: Business)
- Taming the ‘monsters’ (Category: Business)
- Limits of statist development or state capitalism (Category: Business)
Recent newspaper advertisements heralding the birth of a sports economy is indeed good news for sportsmen in general and sports entrepreneurs in particular. Tax exemptions that serve as attractive incentives are a much awaited step in the right direction for a small nation who has time and again made forays into the big leagues. The ...
- Sports Track (Category: Business)
- Sports Track (Category: Business)
- Tax Breaks (Category: Business)
- Will play only if you pay! (Category: Business)
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 ...
- Taming the ‘monsters’ (Category: Business)
- Corporatism: A step beyond state capitalism (Category: Business)
- Experimenting with State-Owned Enterprises (Category: Breaking News)
- IMF-led privatisation, land and resource grab in Sri Lanka (Category: Breaking News)
KUWAIT (Reuters): Kuwait's cabinet submitted its resignation to the Gulf state's ruler on Monday in a move some parliamentarians believe could be a first step out of the latest crisis that has stalled legislation and blocked reforms in the major oil producer. The government's resignation came days after a top court annulled a February parliamentary ...
- Over 100 Lankans stranded in Kuwait return (Category: Breaking News)
- 9000 Lankans to return home (Category: Breaking News)
- Make use of the common amnesty period in Kuwait - FEB (Category: Breaking News)
- Hakeem meets Kuwait Chamber of Commerce and Industry President (Category: Business)
Reuters: Myanmar’s Aung San Suu Kyi became only the second woman after Queen Elizabeth to address both houses of Britain’s parliament on Thursday, a rare honour she used to ask for help in a once in a generation opportunity to bring democracy to her country. Cutting a tiny figure in parliament’s cavernous and historic Westminster ...
- Suu Kyi’s party to end boycott of Myanmar’s Parliament (Category: Business)
- Suu Kyi receives Nobel Peace Prize, 21 years late (Category: Business)
- Myanmar’s Suu Kyi makes historic debut in Parliament (Category: Business)
- Suu Kyi says ready to lead Myanmar to democracy (Category: Business)
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 ...
- Stocks extend rally on banks, hotels (Category: Business)
- Bourse loses Rs. 85 b in value in a week (Category: Business)
- Foreign craving for stocks grows; inflow tops Rs. 28 b (Category: Business)
- Net foreign inflow tops Rs. 30 b; Bourse rebounds (Category: Business)
KUALA LUMPUR: The Sri Lankan Government intends to emulate Malaysia’s steps in advocating the concept of moderation, taking the middle path and promoting it in the republic. The Sri Lankan High Commissioner to Malaysia, K. Godage, opined that the concept is apt for Sri Lanka, which is entering a new chapter after the civil war ...
- SRI LANKA CAN LEARN FROM M'SIA'S MODERATION CONCEPT FOR NATION BUILDING: ENVOY (Category: Breaking News)
- Sri Lanka can learn from Malaysia, says envoy (Category: Breaking News)
- Sri Lanka Can Learn From Malaysia's Moderation Concept For Nation Building: Envoy (Category: Breaking News)
- IMF has given govt. blank cheque – Charitha (Category: Breaking News)
Reuters: Authorities in the world’s major economies are preparing for a possible market storm or public panic after cliffhanger Greek elections this weekend, officials said on Thursday, should radical leftists win and cast doubt on the nation’s future in the euro zone . Britain announced on Thursday it would flood its banking system with cash ...
- Euro zone crisis heads for September crunch (Category: Business)
- Euro zone seals second Greek bailout worth 130 b euros (Category: Business)
- Merkel scrapes win on Greek bailout, rebels grow (Category: Business)
- World stocks, euro rise on hopes Greece ditches referendum (Category: Business)
RIO+20 is the next focus point for the world and as President Mahinda Rajapaksa takes Sri Lanka’s concerns to this international forum, it is perhaps time for a larger discussion on its importance to a developing country as well as the world at large. Twenty years ago, it was mostly people who were displaced by ...
- 'Agreement reached' at Rio summit (Category: Technology)
- Economic development must respect environment, Sri Lankan President tells Rio+20 conference (Category: Breaking News)
- Sri Lanka and Iran for a new world order (Category: Breaking News)
- ‘Colombo+20: The Future We Want’ on 1 July (Category: Business)
Nihal Sri Ameresekereandrsquo;s 10th Book in a series of real case studies on corruption, fraud, economic crime, governance, and rule of law, contains revelations on how political leaders of third world developing countries, become subservient to economically powerful giants, even covering-up colossal frauds perpetrated on a sovereign State and its impoverished people, with scant regard for the ru...
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 ...
- SEC To Work Towards Strengthening Investor Protection (Category: Business)
- Regulatory framework in place for Exchange Traded Funds (Category: Business)
- Top Govt. politico among investors summoned by SEC via ‘fiery’ notice (Category: Business)
- ‘Those who live by the Dhamma are protected by the Dhamma’ SEC Chief tells investors (Category: Business)
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 ...
- NSB conspicuous by its silence on allegations over TFC buy (Category: Business)
- Not-so-ugly truth of the NSB saga! (Category: Business)
- NSB-TFC deal’s stench spreads! (Category: Business)
- NSB Head gives quit notice (Category: Business)
WASHINGTON/LONDON (Reuters): The world’s economic outlook darkened on Friday as reports showed U.S. employment growth slowing sharply, Chinese factory output barely growing and European manufacturing falling deeper into malaise. In a shock that sent global equity markets into a dive, the U.S. economy added just 69,000 jobs in May, less than half what analysts expected ...
- Fears of US slowdown fade as economy shows some muscle (Category: Business)
- US consumer in slow lane (Category: Business)
- US labour market seen improving, but pace glacial (Category: Business)
- US economy gaining momentum, housing shows a pulse (Category: Business)
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
- Hub is no hoodoo, says TEA (Category: Business)
- Marketing 3.0 and Sri Lanka (Category: Business)
- ‘Pure Ceylon Tea’ or ‘tea hub’? The billion dollar question (Category: Business)
- Do people prefer coffee over tea? (Category: Business)
Former Army Commander Sarath Fonseka walked free from jail yesterday with a pardon from President Mahinda Rajapaksa, who appears to have bowed to growing international demands that he release his highest-profile rival while erasing the image of him as a victim. Ex-General Sarath Fonseka kissed his hands and raised them to a group of 2,000 ...
- Fonseka says ‘Government must go’ (Category: Business)
- Sarath Fonseka will be released soon, says President (Category: Business)
- Letting the General out of the bottle (Category: Business)
- Sarath Fonseka gets conditional bail (Category: Business)
The Employees’ Provident Fund (EPF) yesterday categorically rejected the statement allegedly made by an Opposition Member of Parliament as reported in several news papers on 15 May 2012, where the EPF has been accused of fraudulent transactions in the stock market. "Such statement, read in conjunction with several past statements of a similar nature made ...
- Harsha rebuffs CB’s rosy EPF story (Category: Business)
- CB says EPF investments are long-term and of value (Category: Business)
- EPF defends its investment strategy (Category: Breaking News)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
Reuters: Sri Lanka’s President Mahinda Rajapaksa has ordered the early release from jail of his highest-profile political rival Sarath Fonseka, the president’s spokesman said on Sunday, in an apparent bid to quell international criticism of the government’s human rights record. The authorisation for Fonseka’s release will be sent to the justice ministry on Monday, spokesman...
- Sri Lanka president orders release of jailed rival (Category: Breaking News)
- Sri Lanka president orders release of ex-army chief Fonseka (Category: Breaking News)
- MR gets Cabinet nod for Fonseka’s release (Category: Business)
- Letting the General out of the bottle (Category: Business)
Reuters: The euro hovered near four-month lows and European shares extended their losing streak on Thursday, as investors avoided riskier assets due to the deepening turmoil in Greece and fears of contagion spreading to other stressed euro zone economies. News that some Greek banks face emergency funding needs dealt a further blow to risk sentiment, ...
- Global stocks retreat after Swiss move; euro jumps (Category: Business)
- Euro zone Oct inflation at 3 pct despite cooler growth (Category: Business)
- European stocks rise ahead of ECB meeting (Category: Business)
- Euro hits decade low vs yen, remains vulnerable (Category: Business)
News reports point to an important decision that the minister concerned has been requested to make on the above subject. If this is correct it is important that we recognise that it is more than a million dollar decision that has been called for. It is so important a decision because it could determine the ...
- Storms brewing in teacups (Category: Business)
- Storm in Sri Lanka’s teacup: A more pragmatic approach is key (Category: Business)
- SL must become a tea nation, but… (Category: Business)
LONDON (Reuters): The Bank of England looks set to call a halt to its asset-buying program on Thursday, despite the economy having slipped into recession and renewed risks rising from the euro zone debt crisis, as UK inflation remains stubbornly high. Ending its program of quantitative easing, or QE, may make life more difficult for ...
- Rocky Road (Category: Business)
- Sri Lanka’s Central Bank raises rates to contain record high inflation (Category: Breaking News)
- Fiat Inflation (Category: Business)
- Inflation drops in July for the fifth consecutive month (Category: Breaking News)
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
- Economic management and the way forward (Category: Business)
- Govt. to consider tightening laws on white collar crimes (Category: Business)
- NSB-TFC deal’s stench spreads! (Category: Business)
- Wijetilleke backs calls for tough action on NSB-TFC deal (Category: Business)
As a habit I unwind in the night by watching NDTV mainly due to the powerful ideas that it tells the world; especially the programmes like ‘The Buck Stops Here’ and ‘We The People’ are cutting edge, in my view. Last week there was a breaking news update that cricketing legend Sachin Tendulkar was accepting ...
- Sachin Tendulkar sworn in as MP (Category: Business)
- Cricket-ICC chief happy with 50-over format (Category: Business)
- Case filed against Sachin’s political play (Category: Business)
- Lanka tour will help prepare for World T20: Dhoni (Category: Business)
Economist and Academic of the University of Peradeniya Dr Prasanna Perera while expressing his views said andldquo;Volatility is Short term and therefore it could not be considered as a crisisandrdquo; at the public seminar which was hosted by the Organization of Professional Associations (OPA) for Transparency International Sri Lanka (TISL) on the topic Rupee Crisis?.
Reuters: Pro-democracy leader Aung San Suu Kyi took her place in Myanmar’s parliament on Wednesday, ushering in a historic new political era after nearly a quarter-century fight against military dictatorship. The 66-year-old Nobel Peace Prize laureate waded through throngs of foreign and local reporters as she entered parliament in Naypyitaw to join a fragile new ...
- Suu Kyi’s party to end boycott of Myanmar’s Parliament (Category: Business)
- Suu Kyi receives Nobel Peace Prize, 21 years late (Category: Business)
- Myanmar Army seizes power after detaining Aung San Suu Kyi (Category: Breaking News)
- Suu Kyi to make Myanmar parliament debut on April 23 (Category: Business)
I am shaking rocks! This was a claim made by the Minister of Sports (MOS) in a banner headline run in a recent news article. There is no doubt that he has certainly made a start. In what he claims is the biggest cleanup ever, he has dared to remove some big rocks; the reference ...
- Sri Lanka sports: Mired between power plots and honey pots! (Category: Business)
- Will play only if you pay! (Category: Business)
- Is Sri Lanka Sports being waylaid by mercenaries? (Category: Business)
- The freedom of sports (Category: Business)
The need for an integrated program on a war footingIn 2008, eight prizewinning economists were asked to list the type of projects which would do the most good for the most number of poor people, if they had an imaginary $ 75 million to spend. Half of their proposed projects involved nutrition. There has been ...
- Sri Lanka: Tea rich but nutrient poor (Category: Business)
- Dairy: The mirage of self-sufficiency (Category: Business)
- Equity and well-being in Sri Lanka (Category: Business)
VESAK is the festival of light. Yet this year it seems that the lights will have to be dimmed to reflect the reduced lustre of the country’s economy. As the Power and Energy Ministry organisers raffle draws for people who save electricity during the upcoming religious season there are many other efforts happening behind the ...
- Plane explodes near school (Category: South Australia)
- Hayleys Consumer’s ‘Light-Styles’ glow at architectural lighting showroom (Category: Business)
- No electricity tariff hike this year (Category: Business)
Less than a year after starting up on its own, the company prepares to replicate its Indian success in Sri LankaJubilant FoodWorks, the master franchisee of Dominos Pizza for South Asia, last year set up its own subsidiary company in Sri Lanka, moving away from the franchisee partnership which held the fort for the Group ...
- Domino’s Pizza, opens in Colombo (Category: Business)
- India’s Jubilant Foodworks to expand overseas (Category: Business)
- Aviraté dresses up for aggressive expansion (Category: Business)
- Lenovo experiencing ‘tremendous growth’ in SL under ‘Smarter Tech for All’ vision (Category: Breaking News)
By S.S Selvanayagam The Court of Appeal was informed yesterday that the Homagama Magistrate is to deliver his order on the inquiry into the involuntary disappearance of freelance journalist cum cartoonist Prageeth Ekneligoda on 17 May where he is expected to order as to whether former Attorney General Mohan Peiris is to be summoned as ...
- Court summons Mohan Peiris (Category: Breaking News)
- Court summons Mohan Peiris (Category: Breaking News)
- Former AG called to give evidence in Ekneligoda case (Category: Breaking News)
- Eknaligoda petition to be heard on May 10 (Category: Breaking News)
Last Sunday when the unknown Ajinkya Rahane scored 103 runs off just 60 balls at the M. Chinnaswamy Stadium in Bangalore, which helped the Rajasthan Royals to score a massive 195 runs at IPL season five, my mind went to just one ethos the IPL is all about – highlighting performance. It is how IPL ...
- Developing cutting-edge brand strategies (Category: Business)
- The ‘real’ problem with brand Sri Lanka (Category: Business)
- HR and London Olympics (Category: Business)
- Nation branding: A holistic perspective (Category: Business)
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