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BRUSSELS (Reuters): Euro zone economic sentiment defied expectations of stabilisation and again fell sharply in September, underlining the economic gloom brought on by the sovereign debt crisis as the euro zone sinks into a recession. The European Commission’s monthly economic sentiment survey showed the index for the 17 countries sharing the euro falling to 85 ...
- Asian markets firmer as focus turns to FOMC from Greece (Category: Business)
- German Ifo business morale rises unexpectedly (Category: Business)
- Euro zone fears rattle global markets (Category: Business)
- Oil up despite weak Europe data (Category: Business)
The location of Sri Lanka has a strategic significance and this has been proven by the historical trading activities between Sri Lanka and ancient China, Egypt, and the Roman Empire. There is ample evidence to show that Sri Lanka was a main trading hub in Asia. The reasons for occupation of Sri Lanka by the ...
- Accelerating inclusive growth: The role of the external sector (Category: Business)
- Sri Lanka to revive FTA talks with India, China and Thailand (Category: Breaking News)
- Is Sri Lanka geared for globalisation? (Category: Business)
- EDB turns 33 (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)
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 ...
- Demands on bank assets pose “vicious cycle” danger (Category: Business)
- India finds balance in NPLs recovery and borrower rights (Category: Business)
- Insurers, asset managers need tighter control – BIS (Category: Business)
- Three steps to avoid a global depression – Soros (Category: Business)
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
- 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)
Reuters: Asian shares edged lower on Tuesday after Germany’s business confidence fell in September for a fifth consecutive month and Caterpillar Inc (CAT.N), the world’s largest earth moving equipment maker, cut its earnings forecast, underscoring worries about slowing global growth. Uncertainty about the bailout prospects for Greece and Spain, as the euro zone’s three-year-long ...
- Asian markets cheered by Fed rate outlook (Category: Business)
- Shares, euro dip on Europe; French bond auction eyed (Category: Business)
- Euro zone fears rattle global markets (Category: Business)
- Asian shares at 3-month high after China inflation (Category: Business)
LONDON (Reuters): Britain’s budget deficit widened to the biggest on record for any August, data showed on Friday, a day after the central bank chief said missing its debt goal was acceptable for the government. Public sector net borrowing excluding financial sector interventions rose to 14.410 billion pounds from 14.365 billion in August 2011 as ...
- UK’s Green Bank to lend to wind, waste energy (Category: Business)
- Britain’s top rating may yet survive (Category: Business)
- Financing of 2011 Budget goes haywire (Category: Business)
- Euro zone crisis heads for September crunch (Category: Business)
Reuters: Manufacturing in China contracted for the 11th month in a row in September, according to a private sector survey of factory managers that indicated the world’s second largest economy remains on track for a seventh quarter of slowing growth. The HSBC Flash China manufacturing
- China factory sector shrinks most in nine months (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
- Asia factory output weak; India defies with rise (Category: Business)
- Asian factory output curbed by troubled Europe (Category: Business)
Reuters: Asian shares extended losses on Thursday after data indicated little respite for Chinese manufacturers, suggesting growth in the world’s second-largest economy slowed further in the third quarter. The MSCI’s broadest index of Asia-Pacific shares outside Japan extended losses
- Bourse at 3-week high on foreign buying (Category: Business)
- China June factory activity down, exports poor (Category: Business)
- Asian shares fall after data, ECB disappoint (Category: Business)
- Asian stocks up on Europe optimism, credit (Category: Business)
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...
- Europe, China worries hurt business sentiment: survey (Category: Business)
- Asian markets dampened by Bernanke, factory data in focus (Category: Business)
- Asia’s growth picking up, too early to celebrate (Category: Business)
- ‘Pessimism’ over Asia-Pacific growth: survey (Category: Business)
LONDON (Reuters): Shares rose on Wednesday and the yen fell to a one-month low after the Bank of Japan eased monetary policy, the latest central bank to offer stimulus to help the global economy find a firmer footing. The BOJ said it would increase its asset buying and loan programme, currently
- Peoples Bank Nonperforming loans Rs. 54 billion in 2021 (Category: Breaking News)
- Zimbabwe to introduce gold coins as local currency tumbles (Category: Breaking News)
- CBSL maintain interest rates for fourth month straight (Category: Breaking News)
- Union Bank launches unique three-month FD (Category: Business)
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)
‘Echelon,’ a new business magazine, covering the islands most dynamic companies, their leaders, the economy and lifestyle in unparalleled depth, is now widely available at bookstores and supermarkets. Echelon’s publisher Capital Media, has brought
- Lanka Courier magazine launches (Category: Breaking News)
- These are the 4 finalists for Time magazine’s ‘Person of the Year’ (Category: USA, New York)
- These are the 4 finalists for Time magazine’s ‘Person of the Year’ (Category: USA, New York)
HONG KONG (AFP): Asian markets mostly fell on Tuesday following losses on Wall Street and as profit-takers moved in after last week’s huge gains sparked by the US Federal Reserve stimulus plan. Anti-Japan protests across China also weighed on shares in both countries, with three of Japan’s biggest car makers saying they had closed their ...
- Asia, not North America, now has most millionaires (Category: Business)
- Positive results for Asia Pacific hotels in Sept (Category: Business)
- Mauritius 2011 tourist arrival numbers below forecast (Category: Business)
- US managers shun stocks for corporate bonds on global fears (Category: Business)
SINGAPORE (Reuters): Brent crude rose for the eighth consecutive session on Monday to just below $117 a barrel, though prices stayed under a four-month peak hit on Friday on worries that high oil prices could hamper efforts to boost a struggling world economy. Oil has been boosted by the U.S
- Oil falls towards $105, economy jitters return (Category: Business)
- Brent slips, EU optimism keeps price above $111 (Category: Business)
- Oil falls on Fed’s gloomy economy outlook (Category: Business)
- Oil hits six-month high on supply worries, Iran (Category: Business)
The Government has gazetted a Bill, on 27 July 2012, to set up a Divi Neguma Department, which will take over the existing Samurdhi Authority, the Southern Development Authority and the Udarata Development Authority (successor to the Kandyan Peasantry Commission). The Bill will also set up a Divi Neguma Community Based Organisation, Divi Neguma Community ...
- Regulation of microfinance institutions (Category: Business)
- Unregulated microfinance - A high-risk strategy (Category: Business)
- New department to drive ‘Divi Neguma’ (Category: Business)
- Finance: Restrictions on use of the word (Category: Business)
NEW YORK (Reuters): Comparing the Federal Reserve to a rehab clinic offering addicted investors a synthetic high has been a favorite of Wall Street wags ever since the first round of Fed stimulus nearly four years ago. The punch line is that you always need more and more to get the same high and each ...
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
- Fed ramps up economic stimulus, ready to do more (Category: Business)
- Time to buy as market has corrected itself enough: Panel (Category: Business)
- World stocks steady near 11-mth lows (Category: Business)
Reuters: The Federal Reserve launched another aggressive stimulus program on Thursday, saying it would pump $40 billion into the US economy each month until it saw a sustained upturn in the weak jobs market. The central bank’s decision to tie its controversial bond buying directly to economic
- Bernanke quiet on next Fed move, stresses job crisis (Category: Business)
- Asian shares inch down, mark time before Jackson Hole (Category: Business)
- All eyes on Bernanke as recession looms (Category: Business)
- Adopt economic policies to propel growth: Bankers (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
- 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)
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)
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 ...
- Euro zone crisis heads for September crunch (Category: Business)
- German FM: Greece needs sustainable debt by 2020 (Category: Business)
- EU leaders to agree on permanent bailout fund (Category: Business)
- Europe splits over fiscal union, UK isolated (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)
By S.S. Selvanayagam The Supreme Court yesterday (6) ordered the Central Bank to file the Foreign Reserve Management Rules (Guidelines) to Court sequent to the Fundamental Rights violation petition challenging the investment on the controversial Greek bonds, which resulted in a loss of Rs. 2.14 billion of public funds to the State. The Deputy Solicitor ...
- UNP MP files FR case against CB’s junk Greek bond investment (Category: Business)
- Minister Amunugama defends Greek bonds investment (Category: Breaking News)
- Central Bank makes substantial gains in reserve management (Category: Business)
- Central Bank defends investment in Greek bonds (Category: Breaking News)
Reuters: Oil futures rose above $114 per barrel on Thursday, buoyed by expectations the European Central Bank will manage to ease its debt crisis with a new programme of bond purchases. Europe’s debt crisis and slowing global economic growth have fuelled worries about the demand outlook for commodities. Investors hope a new ECB bond-buying programme ...
- Interest, FX rates to stabilise: Treasury Secy. (Category: Business)
- Eight banks vie to lead Sri Lankan euro bond: CB (Category: Business)
- NATO head Stoltenberg: EU needs the US to protect against China (Category: USA, New York)
- NATO head Stoltenberg: EU needs the US to protect against China (Category: USA, New York)
Results of the ICC-Ifo World Economic Survey, released recently, reveal declining optimism over global economic recovery as fear continues to spread about the unsolved debt crisis in Europe. The Survey, which received responses from 1,079 experts in 123 countries, showed that the world economic climate indicator fell to 85.1 in Q3 2012 after two successive ...
- Optimism in Middle East businesses ‘rising’ (Category: Business)
- Deutsche Post DHL hikes outlook as Asia demand buoys Q3 (Category: Business)
- ECONOMIC AND SOCIAL SURVEY OF ASIA AND THE PACIFIC 2010 (Category: Breaking News)
- Global economic outlook slowly improving but remains fragile (Category: Business)
Sincere apologies, Hamlet! This distortion is to highlight the current impasse and to stress the need for thinking beyond short-term situational measures. The impasse is in getting the public university system going and in dealing with demands without forgetting that there is a nation in waiting and the vision for it involves that it should ...
- This Fourth of July! (Category: Business)
- Education reforms for ‘disciplined development’ in Sri Lanka (Category: Business)
- Universities in crisis: Key learnings (Category: Business)
- Nation branding: A holistic perspective (Category: Business)
Reuters: Asia’s services sector expanded in August despite a global economic downturn, business surveys showed on Wednesday, but optimism remained muted as regional economies toil to overcome the deepening impact of the festering euro zone crisis. The HSBC services sector Purchasing Managers’ Index (PMI) has remained above the 50-mark, which separates growth from contraction, in ...
- Global private sector growth hits new low (Category: Business)
- Euro zone recession may have already started: PMIs (Category: Business)
- Global economy growing at fastest pace in a year: PMI (Category: Business)
- China factory surveys signal economic growth stays soft in Q3 (Category: Business)
Reuters: Asian shares eased on Tuesday on concerns over weakening regional and global economic activity, but expectations of more stimulus from central banks and hopes for progress in tackling Europe’s debt crisis lent support. European equities were seen flat to lower, with financial spreadbetters calling London’s FTSE 100, Paris’s CAC-40 and Frankfurt’s DAX to open ...
- Asian shares rise on ECB hopes despite uncertainty (Category: Business)
- Asian shares pause, guarded stimulus hopes from ECB, Fed (Category: Business)
- Asian shares extend gains on stimulus hopes, euro capped (Category: Business)
- World stocks off early highs ahead of US jobs (Category: Business)
SRI LANKA’S rubber industry is wary over the possibility of increased prices as the world’s top producers gather to stabilise global prices this week, raising age old questions over productivity, replanting, value addition, technology infusion and a host of other issues. The Three-Nation Rubber Products International Conference in Bandung, Indonesia, this week will see ...
- Global rubber output seen up 2.6% in 2012: ANRPC (Category: Business)
- 2012 global rubber output forecast cut after Q1 fall (Category: Business)
- Ministry takes steps to increase production of rubber (Category: Business)
- CRTA wary on prices as major rubber producers curb exports (Category: Business)
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