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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 ...
The Sri Lanka Institute of Marketing (SLIM) together with the Bucks University featured the 2012 award winners from Singapore of global business associations and chief marketing officers under the theme ‘Is The Party Over?’ at Galadari Hotel, where a select audience of 200 business and marketers attended the event. Some of the key points discussed ...
Reuters: The Central Bank believes the rupee can strengthen to around 125 per US Dollar due to high foreign inflows into the economy, the Head of the country’s monetary authority said of Monday. Since April, the Central Bank and Finance Ministry have repeatedly said the rupee should stabilise at around 125 per dollar, given the ...
By Shanuka Tissera A year to date, since the last annual general meeting of The Planters’ Association of Ceylon, there have been some turbulent changes in the tea, rubber and coconut industries due to the crisis in the Middle-East and EU. The 158th AGM of The Planters’ Association
KfW should try not to grow too fast New investor types needed for infrastructure Bank business to shrink under regulation, capital requirements FRANKFURT, (Reuters): German state bank KfW predicts a credit crunch due to a shortage of long-term project financing partly due to a retreat by major banks from such capital-intensive businesses. KfW, which specialises ...
By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search
By Cassandra Mascarenhas Setting its sights on placing Sri Lanka in the global economy and expanding its reach in overseas markets, the Sri Lanka Economic Summit 2012, the Ceylon Chamber of Commerce’s annual flagship event, aptly themed ‘Positioning Sri Lanka in the Global Economy,’ commenced last evening at the Cinnamon Grand. In the context of ...
Key insights to state of the economy and market and future prospects from NDB Stockbrokers’ latest Sri Lanka Equities report Uncertainty in the macro environment The robust economic growth and steep rise in global crude oil prices increased Sri Lanka’s import bill by 51% in 2011. As a result the trade deficit widened, putting the ...
The Royal Bank of Scotland Group’s Head of Rating Advisory Raymond Woo had recently called on Economic Development Minister Basil Rajapaksa. “Sri Lanka was able to control the impact of internal and external crisis successfully due to the efficiency of the political, economic
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
CB asks banks overnight for their forex commitments for Thursday and Friday; steps up bank visits Convenes meeting with treasury heads of banks; rupee crisis figures in monthly CB-bank CEOs meeting as well Dealers say no room for speculation given the very narrow net open positions; new rules apart
With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...
High cost of living and festive seasons go hand in hand and the upcoming New Year looks set to becoming a particularly difficult one. With the Central Bank downgrading the economic forecast from eight per cent to 7.2 per cent and a rapidly depreciating rupee adding to increasing imports, the month of April, when consumerism ...
SINGAPORE (Reuters): European banks will continue to reduce their lending in Asia, posing problems for companies in the region as local financial institutions lack the capacity to make up the shortfall, Singapore’s central bank chief warned on Wednesday. Asian firms, other than the bluest of blue chips, have seen a jump in their dollar borrowing ...
;s external sector crisis, warned that the country will have to grapple with “the tyranny ...
Reuters: France and Germany agreed on Thursday to stop arguing in public over whether the European Central Bank should do more to rescue the euro zone from a deepening sovereign debt crisis. President Nicolas Sarkozy and Chancellor Angela Merkel said after talks with Italian Prime Minister Mario
Reuters: Sri Lanka’s stock market narrowly edged up on Monday from a seven-week low, ending four straight falls as investors snapped up battered shares though a liquidity shortage and global worries cooled sentiments, dealers said. The island nation’s main share index closed 0.02 per cent or 1.42 points up at 6,736.02, from the lowest since ...
Stock Broking firm Capital Alliance suggests that the 2.6 million tourist arrivals target isn’t a pipedream but achievable though it will be only by 2020, which is 4 years later than the Government and industry set timeline of 2016. “The Government projects 2.5m arrivals in 2016, but the industry will lack the rooms and trained ...
CEMENT, a product slapped with maximum retail price, is in crisis. During the past few weeks cement has been the centre of much public spotlight and debate. Macho-type talk by Co-operatives and Internal Trade Minister Johnston Fernando and his lack of consultation with cement trade hasn’
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