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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 ...
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,” ...
The Consulate General of Sri Lanka Dubai M.M. Abdul Raheem visited Hamriyah Free Zone Authority this week and met with Director General Dr. Rashid Alleem to strengthen bilateral business association and investment promotion between the two countries. During his meeting Raheem highlighted the investment potential and business environment for Sri Lankan business community. Sri Lanka ...
Reuters: Banks are getting round new rules intended to make a still vulnerable industry safer while countries are distracted by the continuing financial crisis, the International Monetary Fund said on Tuesday. The IMF’s latest Global Financial Stability Report said banks will adjust to new costs from tougher regulation to curb excessive risk taking, with deep-pocketed ...
UNITED NATIONS(Reuters): President Barack Obama will say on Tuesday the United States will “do what we must” to prevent Iran from acquiring a nuclear weapon as UN Secretary-General Ban Ki-moon warned against threatening attacks whose consequences would be devastating. Preparing to take the podium at the United Nations six weeks before the US presidential election, ...
East London recently received a boost as five ICT firms announced plans to expand their operations in Tech City, Europe’s fastest-growing digital hub. Milton Keynes, Sheffield and Ulster will also benefit from multi-million pound international business deals announced at the Global Business Summit on ICT, organised by UK Trade & Investment (UKTI) during the Olympic ...
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
Globe Mirror Industries (GMI), the first tempering plant to be established in Sri Lanka in 1969 has been awarded ISO 9001:2008 certification, a clear indication of its growth and credibility in terms of maintaining a high standard of quality throughout the years. GMI was started by late Mohammed Nawaz and has since grown to be ...
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
Khaleej Times: Sri Lankan efforts to increase its export of skilled workers to the UAE were the topic of discussion in a gathering of diplomatic officials at an overseas employment promotion seminar held on 13 September. At the event, officials addressed local recruiters and employers on the procedures and benefits associated with hiring workers from ...
Business sentiment at Asia’s top companies declined for a second consecutive quarter in 2012 due to continued worries over the global economy, according to the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey. The poll was conducted between 3 and 14 September 2012 and of the 97
SINGAPORE: Business sentiment among Asia’s top companies fell for the second straight quarter, dragged down by export-orientated economies such as China and Japan, while domestic spending helped boost Southeast Asia’s outlook, a Thomson Reuters/INSEAD survey showed. Concerns over global demand are hurting Asia’s export engines, with autos, technology and shipping sectors am...
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 ...
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 ...
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 ...
The festival of creativity – Spikes Asia 2012 in Singapore during its first two days showcased key insights on winning and creative ideas in the marketing communications sphere by a host of global and regional experts. Attended by nearly 1,800 creative industry professionals and students from 27 countries including nearly 20 from Sri Lanka, the ...
SINGAPORE (Reuters): Brent crude slipped under $114 a barrel on Tuesday, adding to steep losses in the previous session, as investors weighed the impact of the Federal Reserve’s open ended stimulus push on oil demand and eyed China’s next step to boost its economy. Brent crude fell
It is with great sacrifices that Sri Lanka brought about a victory against ruthless terrorism, which is certainly a feather in the cap of Rajapaksa family. No one can dispute the fact that President Rajapaksa provided the political leadership and ensured that the LTTE was decimated at any cost. The Tamil diaspora and the pro-separatist ...
Emirates, one of the fastest growing airlines in the world, has launched its daily non-stop service from Dubai to Washington Dulles International Airport (IAD). It is the seventh gateway for Emirates in the United States, and the twelfth new route to join the airline’s international network in 2012. “Emirates offers important new choice, competition and ...
“Broadband will represent a momentous economic and social change,” said President’s Secretary Lalith Weeratunga. Weeratunga said so while participating at the inauguration of a two-day ‘Regional Expert Consultation on Connecting Asia Pacific’s Digital Society for Building Resilience’ held in Colombo recently. Organised by the United Nations Economic and Social C...
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 ...
SINGAPORE (Reuters): Asian stocks touched their highest in more than four months on Monday and gold, oil and copper hovered near multi-month highs, after rallying late last week on hopes that fresh stimulus from the world’s top central banks will support flagging growth. The dollar languished near its lowest in seven months, as the aggressive ...
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
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, ...
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 ...
Reuters: Germany’s Constitutional Court gave a green light on Wednesday for the country to ratify the euro zone’s new bailout fund and budget pact, but insisted the German parliament have veto powers over any future increases in the size of the fund. The eagerly awaited verdict boosted global stocks and the euro currency as investors ...
One of the largest healthcare systems providers in Sweden, Cambio Healthcare Systems has set up a research and development centre in Sri Lanka and is now poised to expand further with the vision of being the leading healthcare systems provider in the Nordic regions. “Cambio Healthcare Systems is currently one of the largest e-Health providers ...
SINGAPORE (Reuters): Tyre makers snapped up rubber for nearby shipment before prices rise again on expectations of more stimulus measures from the U.S. Federal Reserve, dealers said, although there are some concerns about rising inventories in main consumer China. Tyre grades from Thailand, Indonesia and Malaysia for October/November delivery were sold overnight at between $2.63 ...
The Tokyo Stock Exchange (TSE), which is the third largest equity/stock market in the world with a total market capitalisation of US$ 3.3 trillion, has expressed interest to have Sri Lankan listed corporates on the Colombo Stock Exchange (CSE) to be listed on the TSE as Japanese Depository Receipts (JDRs), stated Ambassador of Sri Lanka ...
A Memorandum of Understanding (MOU) was entered into between the Ministry of Health and the National Health Development Fund on behalf of the Government of the Democratic Socialist Republic of Sri Lanka (GOSL) and the Trustees of the Foundation Supporting a National Trauma Service in Sri Lanka, Victoria, Australia (Project BEAP), which is a charitable ...