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Countries have achieved sustained growth and development by adopting a range of approaches. Successful outcomes have come from policies varying from state capitalism to those based on market-driven private sector-oriented models. A high premium needs to be attached to the pursuit of pragmatic policies that are appropriate for country-specific conditions at a given point in ...
- More private sector investments key for higher growth – ADB (Category: Business)
- Government and UNDP map out SDG investment for private sector to support recovery (Category: Breaking News)
- Plug the leaks (Category: Business)
- Govt. on right course, private sector must adapt and grow: Dr. P.B. (Category: Business)
Confirming that sound investment strategies could pay off handsomely NDB Group yesterday announced it will receive $ 59 million (around Rs. 7.7 billion at current exchange rate) from its deal with AIA. “The net receipts of US$ 59 m, arising out of these transactions, give an opportunity for the NDB Group to further strengthen the ...
- Ayubowan AIA (Category: Business)
- Sri Lanka’s AVIVA Insurance acquired by AIA Group (Category: Breaking News)
- NDB launches full service investment banking operations (Category: Business)
- Aviva adds Sri Lanka, S. Korea, Malaysia to Asia exit list: Report (Category: Business)
Asian Development Bank (ADB) Vice President Xiaoyu Zhao has declared that Sri Lanka has big potential than any other country in Asia to become the most viable and attractive regional economic hub. “Strategic location, post conflict infrastructure development initiatives, peace and stability, high economic growth and able leadership are the main factors behind these potential,” ...
- ADB’s South Asia head meets Basil (Category: Business)
- Sri Lanka has big potential to be a viable regional hub – ADB (Category: Breaking News)
- New ADB, Sri Lanka partnership strategy agreed to target growth (Category: Breaking News)
- ADB’s new Sri Lanka partnership to target inclusive growth (Category: Business)
Global giant Standard Chartered Bank tips Sri Lanka’s economic growth to rebound in 2013, after contracting this year from 2011. It is forecasting economy to grow by 7.5% in 2013 and by 7.7% in 2014 from 6.8% this year. However, forecasts for the next two years are lower in comparison to record 8.3% growth achieved ...
- SCB checkmates cameo CB! (Category: Business)
- Value investors enter as speculators exit (Category: Business)
- Growth to slow down in 2012 –Central Bank (Category: Breaking News)
A number of articles which appeared in print media in the recent past signify the volatility in the economy. High volatility leads to vulnerability. Volatility and vulnerability are reflections of the haphazard nature of the economic policies and poor economic governance in a country. What is volatility? Volatility is the severity and the frequency with ...
- Achieving economic goals amidst global challenges (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- Lion leads frontier markets (Category: Business)
Fitch Ratings has assigned the Ceylon Income Fund an ‘A-(lka)’ National Fund Credit Rating. This is the first fund rating assigned by an international rating agency in Sri Lanka. The fund primarily invests in corporate debt instruments and is managed by Ceylon Asset Management (CAM). The ‘A-(lka)’ National Fund Credit Rating is driven by the ...
- Fitch assigns Ceylon Income Fund an ‘A-(lka)’ rating (Category: Breaking News)
- Singer (Sri Lanka) raised to AA (LKA) in the revised Fitch Ratings (Category: Breaking News)
- Fitch Ratings downgrades ratings of seven Sri Lankan insurers (Category: Breaking News)
- Fitch affirms Central Finance; Rates CP ‘F1’ (Category: Business)
Leaving nobody out in the cold In India, the Rangarajan Committee on Financial Inclusion defined the concept as: “The process of ensuring access to financial services, timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups, at an affordable cost.” At the recent FutureGov SAARC Summit in Colombo, ...
- Govt waits for clearance to implement India-funded Unique ID card project (Category: Breaking News)
- Is JVP/NPP signalling left and turning right? (Category: Breaking News)
- India aids Sri Lanka to fund its digital identity project (Category: Breaking News)
- Moneylenders - Exploiters or providers of a vital financial service? (Category: Business)
$ 450 m mega project to be completed in 2014 By Uditha Jayasinghe The Government has leased the iconic Transworks House land to India’s Krrish Group for 99 years at $ 49 million, whilst the $ 450 million mega project is slated to be completed by 2014. The land encompasses the Transworks House, a colonial ...
- Ambitious $ 460 m 4-towers Krrish Square at Fort to start selling units from today (Category: Business)
- $ 450 m Transworks Towers to transform city (Category: Business)
- People will be resettled in Sampur: Basil Rajapaksa (Category: Breaking News)
- Gains, Pains In Paki FDI (Category: Breaking News)
The Central Bank of Sri Lanka (CBSL) recently provided a Technical Assistance (TA) to the Maldives Monetary Authority (MMA) aimed at developing foreign reserves management skills of the Maldivian Central Bank. This program helped to build MMA’s institutional capacity to formulate foreign reserves management policies and procedures and to manage its foreign reserves so as ...
- Substantial Gains In Foreign Reserves – CB (Category: Breaking News)
- Reserve Stock (Category: Business)
- Substantial Gains In Foreign Reserves (Category: Breaking News)
- Maldives acquires Sri Lankan expertise on foreign reserves management (Category: Breaking News)
The Central Bank (CB) yesterday in a statement issued new directives on foreign exchange activities that broadly cover market practices and ethical standards. The bank, with the view to further improve the standard of business conduct and good market practices for the effective and efficient functioning of the foreign exchange trading activities in Sri Lanka, ...
- Central Bank Issues Direction On Foreign Exchange Trading Activities (Category: Business)
- Sri Lanka issues new directions on forex trading (Category: Breaking News)
- Sri Lanka's Central Bank issues direction on foreign exchange trading activities (Category: Breaking News)
- Sri Lanka’s SEC lifts the 10% price band (Category: Breaking News)
Cabraal says that price pressures will remain, keeps policy rates and growth figures steady The Central Bank kept policy rates unchanged yesterday, on expectations that inflation would remain contained to single digit levels on policy changes to reduce demand. The concerted efforts by the Central Bank and the Government earlier this year to curb the ...
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- CB seen keeping rates steady for fifth straight month (Category: Business)
- Sri Lanka to grow at 7.2% (Category: Business)
- CB banks on policy changes (Category: Business)
Issue oversubscribed by two times, says Central Bank The Central Bank has had its latest issue of Sri Lanka Development Bonds oversubscribed by two times, bringing the total bid to US$ 121.05 million, the monetary institution said in a statement. The Central Bank of Sri Lanka, on behalf of the Government of Sri Lanka, ...
- Central Bank successful at 1st Sri Lanka Development Bonds issue in 2010 (Category: Business)
- Sri Lanka plans to issue sovereign bond for up to $1 bn (Category: Breaking News)
- Sri Lanka`s 12 billion rupees T-bills oversubscribed (Category: Breaking News)
- Sri Lanka Central Bank to remove old currency notes from circulation (Category: Breaking News)
Commendable achievements Over the years Sri Lanka has gained a considerable reputation for its achievements in social development. It punches above its weight on the UNDP’s Human Development Index. It has also performed very well in meeting the internationally agreed Millennium Development Goals (MDGs), which focus on indicators related to poverty, health, education and gender ...
- From poverty to sustainability in Sri Lanka (Category: Business)
- Equity and well-being in Sri Lanka (Category: Business)
- “Connecting People to Prosperity” in Sri Lanka. A reality check with “Mahinda Chinthanaya” (Category: Breaking News)
- ‘Divi Neguma’ Dept: Development catalyst, dependency creator or a white elephant? (Category: Business)
The exchange of goods and services has been around for as long as civilisations themselves, if not longer. Humans, being extremely adaptive to their environments, have always found ways to utilise resources and build surplus. This surplus was then used to trade in order to obtain resources and goods that weren’t abundantly available. Evolution of ...
- Dialog empowers 7.5m with mobile money transactions (Category: Business)
- ComBank records highest growth in ‘Inter-Bank Electronic’ payments (Category: Business)
- Banking foresight – Shaping integrated development (Category: Business)
Tightening brakes on growth, Government data released yesterday showed the country has slowed to a two-and-a-half-year low, slipping from 7.9% in the first quarter to 6.4 % in the second when compared with the same period last year. A Reuters report noted that economic growth eased to 6.4 per cent in the second quarter ...
- Growth is better than expected – CB (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- Economy ecstatic! (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
Reuters: The Central Bank is expected to keep interest rates steady for a fifth straight month on Tuesday despite high inflation to help bolster economic growth, which has been cooling due to sweeping policy measures and an extended drought. Twelve out of 13 analysts polled by Reuters expect the repurchase and reverse repurchase rates to ...
- Central Bank seen holding rates, SRR steady (Category: Business)
- Credit growth to slow to 27% by December – Cabraal (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Inflation slips on food prices (Category: Business)
Currently discussing new courses with local and international universities By Cheranka Mendis The training arm of SriLankan Airlines, International Aviation Academy (IAA), is on an aggressive expansion plan, launching its services overseas while concentrating on capacity development and local youth engagement to the industry. IAA, which provides International Airline Training Association (IA...
- TAASL and IATA partner to develop HR in aviation (Category: Business)
- SriLankan Airlines’ IAA completes first training program for TAASL member agents (Category: Business)
- SriLankan IAA among IATA top ten (Category: Business)
- UL’s aviation training arm ventures in to Maldives (Category: Business)
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 ...
- Army inquiry a delaying tactic: Human Rights Watch (Category: Business)
- President calls on diplomats to counter threats from pro-LTTE Diaspora (Category: Business)
- NGOs Call on U.S. to Establish International Accountability Mechanism on Sri Lanka at UN Human R... (Category: Breaking News)
- Rejected asylum seekers abused in Sri Lanka, says rights group (Category: Breaking News)
By Saman Gunadasa World Socialist Web Site: A scandal over the manipulation of shares on the Colombo Stock Exchange has erupted in recent weeks, after former Sri Lankan Securities Exchange Commission (SEC) Chairman Thilak Karunaratne accused Government ministers of acting in league with speculators. Karunaratne was pressured by President Mahinda Rajapaksa to quit his position, ...
- Former SEC Chief Tilak insists no overregulation (Category: Business)
- Tilak insists no overregulation (Category: Business)
- Bourse boom awaits boosted brokers after Presidential forum (Category: Business)
- Tilak talks his way out of SEC (Category: Business)
Despite a reversal in the rate of exports decline and evidence of some improvement, Sri Lanka is actively moving to help its exporters to face the global downturn, with a challenging new $ 12 b export goal set for 2102. “Since you, the distinguished exporters, who account for nearly 80 per cent of Sri Lanka’s ...
- US $ 12 b export target (Category: Breaking News)
- Third Exporters’ Forum forges ahead (Category: Business)
- Hayleys’ fibre sector companies bag triple at NCE Export Awards (Category: Business)
- Sri Lanka asks exporters to push product quality (Category: Business)
The Human Resources Research Program of Lirneasia has prepared and published a directory named “CHOICES – Higher Education Opportunities after A/Levels”. This directory gives out results of one of its researches, Lirneasia plans to carry out several in-depth researches into higher education field of subject. Lirneasia plans to make the directory available at major super ...
- Ceylon Chamber partners LIRNEasia to compare higher education choices (Category: Business)
- The z-score debacle (Category: Business)
- South Asian Rotarians adopt Colombo Declaration after key meeting (Category: Business)
- Arab World requires 160,000 family doctors (Category: Business)
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 ...
- Village as a developmental unit (Category: Business)
- Paddy farmers’ problems (Category: Business)
- Budget 2012’s impact on the export sector (Category: Business)
- Sri Lanka’s stake in the intl. agriculture debate (Category: Business)
The Central Bank yesterday said earnings from tourism and workers’ remittances continued to hold up, cushioning the current account of the Balance of Payments (BOP). It said earnings from tourism in July 2012 grew by 23.6%, year-on-year, to $ 100 million, while during the first seven months of 2012, earnings from tourism have grown at ...
- Foreign inflows buoyant: CB (Category: Business)
- Inflows improve (Category: Business)
- Jan-July worker remittances up 25.6% to $ 2.92 b (Category: Business)
- REMITTANCES BY MIGRANT WORKERS INCREASE (Category: Breaking News)
Continuing its growth momentum, Orient Finance PLC added yet another milestone with the opening of its doors to the acceptance of fixed deposits. This is subsequent to the company being licensed by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 as a Finance Company. ...
- Red Ink (Category: Business)
- Finance Losses (Category: Business)
- Finance Recovery (Category: Business)
- Serial Winner (Category: Business)
In the last 15 years, the major hospitals invested over Rs. 50 billion by way of total expenditure to increase capacity building within the private healthcare sector by investing in necessary infrastructure, cutting edge technology and continuous development in human capital in the clinical discipline. The centres have created several hundreds of employment opportunities with ...
- Making a difference (Category: Business)
- Arogya 2012 to promote local health sector (Category: Business)
- Services of Apollo Hospitals accessible from Sri Lanka again (Category: Business)
- Doctors’ Brain Drain: Health Security Concern In Sri Lanka (Category: Breaking News)
LONDON (Reuters): Copper hit a four-month high on Monday as hopes for more policy easing in the United States prevailed and as weak copper and other commodity imports in China, coupled with weak factory activity, reinforced prospects for more stimulus measures there. Chinese data showed copper imports in August fell 2.9% from July due to ...
- Asian shares rise; oil spikes on Iran tension (Category: Business)
- Shares ease on China growth worry, dollar stays firm (Category: Business)
- Asian markets rebound, hoping for action on euro zone crisis (Category: Business)
- Asian stocks rebound as Bernanke soothes investors (Category: Business)
The first Prime Minister of independent India, Pandit Jawaharlal Nehru, wrote 75 years ago: “It would be absurd to say that the profit motive does not appeal to the average Indian, but it is nevertheless true that there is no such admiration for it in India as there is in the west. The possessor of ...
- Corporatism: A step beyond state capitalism (Category: Business)
- The rise of State capitalism: new masters of the universe or an ominous portent? (Category: Business)
- Impunity: Unequal before the law (Category: Business)
A salutary reader interest on share market regulation A reader of the previous week’s My View titled ‘SEC: Not a mere watchdog, but a bloodhound mandated to bite’ has raised an important issue with this writer. He has asked the question why it is necessary to have a regulator to police the financial markets and ...
- The ability to save (Category: Business)
- Of Confidence Tricksters and Ponzi Schemes (Category: Breaking News)
- Pyramid schemes galore in rural areas where financial literacy is low– Police spokesman (Category: Breaking News)
- Need To Restrain The Power Of Shadow Finance (Category: Breaking News)
Reuters: Sri Lanka’s economic growth this year may range between 6.7% and 7.2% depending on the impact of a drought that has lasted since the beginning of the year, Treasury Secretary Dr. P.B. Jayasundera said on Thursday. The Central Bank has forecast 7.2% economic growth this year, after revising it down in March from the ...
- Central Bank emphatic dollars are coming (Category: Business)
- Appreciating the exchange rate to create prosperity (Category: Business)
- ComBank records highest growth in ‘Inter-Bank Electronic’ payments (Category: Business)
- The Contribution Of The Monetary Policy For Overcoming The Current Economic Crisis Faced In Sri ... (Category: Breaking News)
ESPNCricinfo: Federation of International Cricketers Associations (FICA) has said it will deter players from taking part in the 2013 Sri Lanka Premier League (SLPL) unless tournament organisers honour the bank guarantees clause in player contracts. FICA CEO Tim May said his organisation had made repeated requests for proof of the bank guarantees, but SLC and ...
- 'FICA to recommend SLPL boycott without bank guarantee' - May (Category: Sports)
- Uva players paid overdue fees (Category: Business)
- SLPL an exciting opportunity for Sri Lankan cricket: Sandeep Bhammer (Category: Business)
- FICA to recommend SLPL boycott without bank guarantee (Category: Breaking News)
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