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The unprecedented drought over the past few months due to the long delay of the south-west monsoon affected the entire country, resulting in withered paddy-fields to farmers; chicken farmers forced to slaughter animals due to water scarcity, soaring vegetable prices for housewives, and power cuts for everyone. The effects of the drought, the victims and ...
- The drought, Mahaveli waters and the farmer (Category: Business)
- Paddy farmers’ problems (Category: Business)
- CEB: Making losses or deliberate blunders? (Category: Business)
- Reservoirs run dry with no rains, country heading for electricity crisis (Category: Breaking News)
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)
By Reshma Kapadia Emerging Markets Daily: With so much angst over India, some investors are looking for other ways to play the subcontinent and setting their sights on Sri Lanka. The country, a major shipping hub attracting a good deal of investment from China, is rebuilding after a three-decade civil war that left parts of ...
- Sri Lanka's time to bloom has come (Category: Breaking News)
- Russia expresses support to Sri Lanka in all its efforts (Category: Breaking News)
- 'Sri Lanka beginning to shine as glamour centre' (Category: Breaking News)
- Sri Lanka’s per capita income to rise to US $6000 – Central Bank Governor (Category: Breaking News)
Approves $ 15 m loan to DFCC Vardhana Bank for relending for home purchase or rehabilitation in post-conflict and tsunami-hit areas Sri Lankans living in post-conflict and tsunami-hit areas will soon have better access to badly-needed housing loans, after the Asian Development Bank (ADB) approved a $ 15 million (nearly Rs. 2 billion) loan to ...
- $90M project to address water, sanitation issues in conflict-affected areas (Category: Breaking News)
- North on rapid overhaul track (Category: Breaking News)
- State Banks Taboo (Category: Breaking News)
- Rate Ceiling (Category: Business)
THE cost of living is a daily state of being, rather than a condensed number for the masses. However, the latest August data depicts dangerous signs for the Government as it heads towards elections. On Tuesday President Mahinda Rajapaksa was seen visiting the drought-hit regions ahead of his campaign trail in the three provinces that ...
- Inflation seen at 42-month high in July (Category: Business)
- Rupee fall drives inflation to 41-month high (Category: Business)
- CB says policy rates appropriate (Category: Business)
- India’s inflation hits three-year low, cenbank seen unmoved (Category: Business)
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 ...
- Honoured for driving marketing in Sri Lanka (Category: Business)
- New tea industry model: By default? (Category: Business)
- Focus on the magic than logic (Category: Business)
- Sri Lanka can be a top 30 country by 2015 (Category: Business)
By Uditha Jayasinghe An estimated 20,000 microfinance institutions in the country will be regulated under new legislation approved by the Cabinet of Ministers. On a proposal made by President Mahinda Rajapaksa, who is also the Finance Minister, all microfinance institutions will be brought under the direct supervision of the of the Central Bank, Cabinet spokesman ...
- SANASA Development Bank wins prestigious Bronze award (Category: Business)
- Unregulated microfinance - A high-risk strategy (Category: Business)
- MI’s to be regulated (Category: Breaking News)
- HNB opens 231st customer centre in Aralaganwila (Category: Business)
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 ...
- CB says no need for FX intervention (Category: Business)
- CB says rupee outlook unchanged from 125 (Category: Business)
- Pressure on rupee to ease on inflows: CB (Category: Business)
- Rupee’s value: Out goes 125; welcome 132 (Category: Business)
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 of Ceylon took place on 17 August ...
- Sector report (Category: Business)
- Local tea industry in a fix (Category: Business)
- Forbes and Walker recaps tea industry’s 2011 (Category: Business)
- Tackling tea travails (Category: Business)
LONDON (Reuters): Oil rose above $114 per barrel on Monday to the highest in more than three months as concern about supplies and hopes that governments will roll out more stimulus measures trumped signs of weakening fuel demand. Supply of the North Sea crudes underpinning the Brent crude contract is set to hit a record ...
- Oil up to $119, supply concerns support (Category: Business)
- Saudi says high oil prices a worry, will take steps (Category: Business)
- Oil falls, awaits US jobs data, storm (Category: Business)
- Oil sinks below $ 100 to 16-month low on economy, demand worries (Category: Business)
Management research is a part of the wider array of research. Whilst positive initiatives are being taken, current situation with respect to research in Sri Lanka is far from a satisfactory level. Today’s column will focus on management research in identifying seven myths associated. At a time where there is a growing awareness on management, ...
- Research on human resources: Reflections and reinforcements (Category: Business)
- Debunking myths of developing people (Category: Business)
- Ten Commandments for employee care (Category: Business)
- How to develop an effective marketing plan (Category: Business)
Reuters: Brent crude fell below $113 a barrel on Friday as a sharp slowdown in China’s trade flows heightened worries about demand for fuel, putting to one side hopes of stimulus measures aimed at lifting global growth that could boost oil use. China’s July exports rose just 1 per cent from a year earlier, undershooting ...
- Brent oil set to end yr up 14%, record high average (Category: Business)
- Brent slips to $102 on worries about euro zone economy (Category: Business)
- Oil creeps toward top of Asia’s economic worry list (Category: Business)
- Brent slips below $123 (Category: Business)
The country has entered into an era that was not witnessed for past 25 years. Growth rates of the economy cannot even be compared during this period as the ground situation in micro terms have changed drastically that was never before during a quarter of a century. The volatility and events of macro factors make ...
- Economic growth to rebound in 2013: SCB (Category: Business)
- Economic Outlook: A tough year ahead but measures in right direction (Category: Business)
- OPIC funding to provide opportunities for growth (Category: Business)
- 2012 Budget in focus (Category: Business)
There is a perception among some of our employers that there is a lack of skilled talent to fill positions at management levels. Often CEOs at public forums say they have difficulty filling positions in their companies. Some of the complaints about skill shortages simply could be that employers can’t get top candidates to join ...
- Short-term fix for filling short-term skill gaps (Category: Business)
- Internships: Free-for-all (Category: Business)
Central Bank Governor says rupee’s trends will depend on flows Bank will intervene if needed to curb volatility Bank sees 125/dollar as equilibrium level, but not a target July annual inflation to ease from 41-month high Reuters: Sri Lanka will maintain a flexible exchange rate, allowing flows to determine trends, though the Central Bank will ...
- Rupee premiums under pressure after IMF statement (Category: Business)
- Colombo bourse slide on credit; rupee flat (Category: Business)
- Devaluation divide (Category: Business)
- IMF’s take on Sri Lanka’s good, bad and the ugly (Category: Business)
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
- Ship lending to slide in 2012 as downturn bites (Category: Business)
- DEG provides $ 21 m loan to NDB Bank to strengthen SME sector (Category: Business)
- Rs. 3 b German boost for SMEs (Category: Business)
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 for a more enduring solution. As a result an increasing interest in Islamic finance ...
- HNB launches Al-Najah Islamic banking unit (Category: Business)
- Islamic finance: Challenges and opportunities (Category: Business)
- Islamic banking and finance advisory services to assist financial institutions (Category: Business)
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 ...
- Lion leads frontier markets (Category: Business)
- Young political guns speak up for economy (Category: Business)
- Ceylon Chamber spearheaded repositioning post-war Sri Lanka forum kicks off today (Category: Business)
- Sustainability in volatility: The bankers’ challenge (Category: Business)
Sri Lanka Ports, Trade and Logistics Conference kicks off By Cheranka Mendis Sri Lanka’s potential as a major maritime and shipping hub in the South Asian region was showcased yesterday at the launch of the two-day Sri Lanka Ports, Trade and Logistics Conference and Exhibition held at the Hilton, Colombo. While times are challenging for ...
- Sri Lanka needs more base cargo to face future competition (Category: Business)
- South Asian ports need synchronised development (Category: Business)
or are on the verge of being ruined. Some villages complain of the shortage ...
- Drought and lessons learned (Category: Business)
- Paddy farmers’ problems (Category: Business)
- Mahaweli Project – North Central Province canal: A tunnel in the wilderness? (Category: Breaking News)
- Lack of irrigation water for paddy cultivation: A way out (Category: Breaking News)
President Mahinda Rajapaksa has instructed the relevant officials to call tenders for the construction of Northern Expressway before the end of this year. At the progress review meeting of Kandy District Development Committee held in the President’s House in Kandy, the President has informed that plans have already been drawn for the first phase of ...
- Sri Lanka to begin construction of northern expressway this year (Category: Breaking News)
- President stops musical shows (Category: Breaking News)
- President instructs officials to launch construction of Northern Expressway (Category: Breaking News)
- President cancels musical shows, directs money for flood affected (Category: Breaking News)
Sri Lanka’s new development tagline Sri Lanka’s current development tagline has been to make it the ‘Emerging Wonder of Asia’ as originally enunciated in the ‘Mahinda Chinthana: Vision for the Future’ and reaffirmed in both the Development Policy Framework of the Government issued in 2010 and the Annual Report of the Ministry of Finance and ...
- Achieving economic goals amidst global challenges (Category: Business)
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
By Amantha Perera IRIN: Three years after conflict ended in northern Sri Lanka, many thousands of civilians remain separated from their ID cards and other official documents lost in the heat of battle and are consequently unable to access a range of essential Government services. From 2008 until the war was declared over in May ...
- Set-up claim over documents (Category: Australia, Tasmania )
- Cleaner guilty of leak thefts (Category: Australia, Tasmania )
- Spy cleaner vows to fight (Category: Australia, Tasmania )
- Opposition suspicious about election costings (Category: Australia, Victoria)
TOKYO (Reuters): Asian shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain raised fears that it could fail to rescue its banks and may need to seek a bailout. Investors fled from risk assets to U.S. government ...
- Asian shares ease, hurt by Spain bank woes (Category: Business)
- Asia shares fall steeply on worries over Spain banks, growth (Category: Business)
- Asia shares, euro consolidate from lows (Category: Business)
- Shares subdued as Spain auction puts investors on edge (Category: Business)
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 ...
- ‘Rupee Volatility – In Search of Equilibrium’ (Category: Business)
- Forex crisis: CB explains and assures (Category: Business)
- Economic growth to rebound in 2013: SCB (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
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 and administrative management of President Mahinda Rajapaksa,” Minister had told Woo. Minister ...
- Minister suggests exporting Sri Lanka`s surplus rice and vegetables (Category: Breaking News)
- Minister suggests exporting Sri Lanka's surplus rice and vegetables (Category: Breaking News)
- Sri Lanka exporting maize is a people's victory - Minister (Category: Breaking News)
- Sri Lankan would face any challenge - minister (Category: Breaking News)
In mid February, the Ceylon Electricity Board (CEB) informed consumers of their intention to revise their electricity charges from the following month. The March electricity bill issued to the consumer by the meter-reader was based on previous rate. The April bill based on revised rates with the addition of fuel surcharge for March was sure ...
- More power cuts after China-built plant fails again (Category: Business)
- In the Chinese-built coal power plant of Norchcholai, there are more questions than answers. (Category: Breaking News)
- Chinese firm says coal plant failed after overuse (Category: Business)
- CEB is not a burden on national economy, says Power Minister (Category: Business)
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, or QE, may make life more difficult for ...
- Rocky Road (Category: Business)
- Sri Lanka’s Central Bank raises rates to contain record high inflation (Category: Breaking News)
- Fiat Inflation (Category: Business)
- Inflation drops in July for the fifth consecutive month (Category: Breaking News)
The rupee yesterday gained at its best ever pace in recent months, a development which analysts and markets linked to remarks made by Treasury Secretary Dr. P.B. Jayasundera to media on Monday. The currency traded at Rs. 126 (up by over 3%) in the morning before closing at Rs. 127.80/128.70 a dollar, firmer as opposed ...
- Rupee weaker on importer dollar demand (Category: Business)
- Rupee slips on importer dollar demand; stocks flat (Category: Business)
- Rupee slips on importer dollar demand; shares down (Category: Business)
- Money market liquidity increases once again (Category: Business)
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 from lack of dollars could be ...
- Markets becalmed (Category: Business)
- Rupee sinks to record low (Category: Business)
- Rupee on a yo-yo! (Category: Business)
- An effective consumer lending proposition (Category: Business)
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