By Cheranka Mendis The volatility in Middle Eastern markets, coupled with the increasing issue of low quality due to competition and increasing costs, has placed the local tea industry in a big fix, which could, if unattended, immediately mark the end of a Sri Lankan legacy in four to five years. Despite Sri Lankan tea ...

Reuters: Asian shares gave back earlier gains on Thursday after data showed China’s factory activity shrank for a fifth successive month, underscoring concerns about a growth slowdown in the world’s second largest economy.  The MSCI Asia Pacific ex-Japan index was nearly flat, falling sharply from a 0.6 percent gain before the Chinese data. Still, the ...

Capital Alliance, a full-service investment bank will be hosting one of Asia’s foremost Investor Relations experts, Jonathan Zax, in Colombo this week. Zax’s investor relations efforts have been frequently recognised by the international financial community through top rankings in polls by Asiamoney, Finance Asia, Lafferty Group and Investor Relations Magazine. Last year, he received a...

Having successfully defeated terrorism, ended years of civil war, ushered an era of peace and prosperity to the country, initiated resoundingly successful development initiatives in the north and the east, the Government of Sri Lanka needs to be applauded for consolidating a unified national identity; an identity that only occasionally reared its head at cricket ...

Singapore: Japan should achieve moderate real GDP growth of 2% in 2012, following a 0.9% contraction in 2011, when the Great East Japan Earthquake, tsunami, and nuclear crisis damaged the nation’s economy, Standard & Poor’s Ratings Services said in a report published today. “Together with slower global economic growth and a rise in the yen, ...

As the world decides vote on Sri Lanka on the methods used on the eradication of terrorism in the country, my mind goes back to the December 2008 when three of us were organising the staging of the first Industrial Exhibition in Jaffna so that the north gets connected to south on an economic front. ...

Reuters: A planned referendum in Ireland and a German court ruling cast new uncertainty on Tuesday over efforts to overcome the euro zone’s debt crisis, just when a flood of central bank money appeared to be calming financial markets.  Ireland’s prickly electorate, which has twice voted “No” to European Union treaties before reversing itself, will ...

Clouded prospects in developed markets cast a shadow over outlook for trade and economyBy Jonathan Story Two key forces that have driven Asia’s transformation for decades can be counted on to continue apace in the coming year: economic development and China’s rise. Nonetheless, individual Asian countries will struggle to balance domestic and international responsibilities in ...

Reuters: On a recent Pakistan International Airlines (PIA) flight, water flowed from the toilets through the aisles during the entire journey from London to Islamabad. "What if it reaches some electrical wires and puts us in danger?" said one concerned passenger to another after flight attendants brushed off repeated complaints. "This could be a catastrophe." ...

Stock market plunges further; Rs. 69 b in value wiped off One year loss of value is a staggering Rs. 766 b EPF and foreign buying saves Bourse after near 5% crash Rupee dips to all-time low of Rs. 120; likely to settle down though triggering panic in import trade Crisis could be an understatement ...

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 that economic expansion in China could be slashed ...

Reuters: Greek political leaders said they had clinched a deal on economic reforms and spending cuts needed to secure a second bailout, but euro zone finance ministers demanded more measures and a parliamentary seal of approval before providing the aid. The European Union and the International Monetary Fund have been exasperated by a string of ...

Reuters: A few months ago economists were all but certain the U.S. economy would slow sharply at the start of this year, with many warning that recession risks were growing. That pessimism has been shaken off by a string of surprisingly solid data that paint a picture of an economy with building momentum. The jobs ...

Hon. D.E.W. Gunasekera Chairman, Committee on Public          Enterprises (COPE) Parliament of Sri Lanka Sri Jayawardenepura Kotte. Dear Chairman, Action on COPE and other reports? Reference the aforementioned, I attach the following: 1.Daily Mirror front page News Report of Saturday, 21.1.2012 headlined ‘Bribery, CID Officers to be summoned by COPE. D...

Reuters: Asian shares and the euro firmed on Thursday after the U.S. Federal Reserve said it would keep interest rates low for a longer-than-expected period, providing ample liquidity to help spur growth. Equities, commodities and U.S. Treasuries all rose on Wednesday after the Fed policy meeting, while the prospect for unfavourable interest rate differentials undermined ...

BANGKOK (Reuters): The Thai Government approved on Tuesday a 15 billion baht ($477 million) budget plan to prop up rubber prices, but the impact of the farmer-friendly intervention is likely to be shortlived because of weak demand. The Government agreed to buy unsmoked rubber sheet (USS3) from farmers at 120 baht ($3.82) per kg, up ...

Regulatory pressure mounted further over the course of 2011 – bad news for financial services firms, but good news for the consultancies to which they turned for help. Ernst and Young topped the Operational Risk and Regulation consultancy rankings again in 2011 (http://www.risk.net/operational-risk-and-regulation/feature/2135016/orr-consultancy-rankings-2011), and the New York-based head of ...

Brazil president wants 4 pct GDP growth, above forecasts Officials say they will pursue goal responsibly Concerns over inflation, budget targets BRASILIA (Reuters): Brazilian President Dilma Rousseff has made 4 percent economic growth her government’s main mission this year and is willing to cut taxes, take stimulus measures and possibly sacrifice other targets if needed, ...

BUDAPEST (Reuters): More than 100,000 people rallied on Saturday in a show of support for the embattled Hungarian government, as it prepares to compromise in a bitter row with the European Union to secure a vital loan. Labelled a “March of Peace” the demonstration was by far the largest rally since the government took power ...

MEXICO CITY (Reuters): Group of 20 nations agreed to push Europe to take extra steps to resolve the debt crisis on Friday as they inch toward a deal to boost the International Monetary Fund’s firepower. Mexico Deputy Finance Minister Gerardo Rodriguez said talks between G20 officials in Mexico City on Thursday and Friday were a ...

By Jeff Glekin Reuters Breakingviews: Tales of the Ambani brothers’ mixed fortunes tell the same story — declining opportunities for investment in India. Mukesh may be cash-rich while Anil is in stark need of funding. Although some think that has the makings of a reconciliation between the two, that’s unlikely. Mukesh would rather buy his ...

Reuters: The International Monetary Fund is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis, but the United States and other countries are throwing up roadblocks. The United States and Canada said on Wednesday Europe must ...

Reuters: Greece goes head to head with its creditors on Wednesday in a renewed attempt to break a deadlock in negotiations to slash the country’s debt and stave off default. International private sector creditors represented by the Institute of International Finance IIF.L were set to meet the government in the afternoon. Talks broke down on ...

LONDON (Reuters): Mass euro zone ratings downgrades are unlikely to shake up investors too much, but with Greek debt talks at an impasse, pressure has been loaded on the bloc to shore up its defences and glimmers of optimism from last week have been firmly doused.  With the United States and Japan already downgraded from ...

FRANKFURT (Reuters): The European Central Bank’s flood of cheap three-year money is helping the euro zone’s banking system substantially and supporting confidence in the bloc’s economy which is showing some signs of stabilisation, its president said on Thursday.   The ECB left interest rates on hold, pausing to assess the impact of back-to-back cuts and ...

TOKYO (Reuters): Asian shares rose to a one-month high and the euro clung near its strongest in a week on Friday as strong demand in Spanish and Italian debt sales tempered risk aversion ahead of another auction from Rome later in the day. Interbank lending rates fell in a sign that worries about a credit ...

FRANKFURT (Reuters): The European Central Bank will take a breather this month after unleashing back-to-back interest rate cuts and a slew of other measures, pausing to assess the impact of the crisis-fighting steps it took in the final two months of 2011. The euro zone central bank is widely expected to keep rates at 1.0 ...

Political corruption: The definition Political corruption is the use of legislated powers by government officials for illegitimate private gain. Misuse of government power for other purposes, such as repression of political opponents and general police brutality, is not considered political corruption. Neither are illegal acts by private persons or corporations not directly involved with the ...

BERNE (Reuters) : Swiss National Bank Chairman Philipp Hildebrand resigned with immediate effect on Monday, saying he could not prove he had been unaware of a controversial currency trade made by his wife and wanted to protect the integrity of the central bank. Hildebrand’s decision to relinquish one of the top 10 central banking jobs ...

Reuters: U.S. manufacturing grew at its fastest pace in six months in December, capping a late-year upswing, but a European slump and rising oil prices posed threats to the U.S. economy in the new year. The Institute for Supply Management’s index of national factory activity hit its highest level since June, coming in above forecasts ...