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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 ...
A salutary reader interest on share market regulation A reader of the previous week’s My View titled ‘SEC: Not a mere watchdog, but a bloodhound mandated to bite’ has raised an important issue with this writer. He has asked the question why it is necessary to have a regulator to police the financial markets and ...
The ‘Yes-Man’ Parasite, a.k.a. HMV The dictionary definition of a ‘pun’: ‘the clever or humorous use of a word that has more than one meaning, or words that have different meanings but sound the same’. The second word of the headline of today’s column is not exactly a pun, but somewhat akin to one, as ...
Playing off India against China and vice versa‘The Great Game’ was the name given to a diplomatic and military tussle between the British and Russian empires during the time of the British Raj in India for influence over what constitutes today’s central Asian states. Commonly known as the ‘Stan states,’ they were located along the ...
Reuters: India’s lawmakers voted for a new president on Thursday, ending weeks of wrangling and opening a much-hyped political window billed as the best chance for Prime Minister Manmohan Singh to launch a wave of reforms and reverse an economic slowdown. India’s markets are anticipating quick action to relax investment rules and cut subsidies once ...
A solution for loss-making SOEs? In the USA, a new corporate entity referred to as a Benefit Corporation (B-Corp) has been brought into being. The states of Maryland, New Jersey, Virginia, California and Vermont have legislation which permits companies to combine the profit motive with the purpose of making a positive impact on society and ...
Reuters: Authorities in the world’s major economies are preparing for a possible market storm or public panic after cliffhanger Greek elections this weekend, officials said on Thursday, should radical leftists win and cast doubt on the nation’s future in the euro zone . Britain announced on Thursday it would flood its banking system with cash ...
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
By Cassandra Mascarenhas The biggest mobile forum in the region, the South Asian Mobile Conference was held for the third year in Colombo earlier this week, bringing together some of the world’s top experts in the mobile sphere, developers of the next generation, researchers, academics and policy makers, creating a platform for a chance of ...
Sri Lanka spent Rs. 56 b on above-the-line advertising in 2011 Taking wing to India for meetings is a usual routine for any business leader attached to a multinational in Sri Lanka as most such organisations have their regional offices in India. During a recent visit to India, the hype surrounding IPL – 5th edition ...
Reuters: U.S. employers hired far fewer workers in March than in previous months, keeping the door open for the Federal Reserve to provide more monetary support for a still sluggish economy. The report was seized upon by Republicans hoping to make the weak economy the centerpiece of their campaign
Reuters: Federal Reserve policymakers on Monday signaled little appetite for further monetary steps to stimulate U.S. growth in an economy that is gradually strengthening. “With my current outlook, I think our policy stance is still the one best suited to foster steady gains in output
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 ...
Reuters: Greece claimed a major success for its bond swap offer to private creditors on Friday after it won heavy acceptance for a deal that averts the immediate risk of an uncontrolled default on its massive public debt. The finance ministry said 85.8 percent of its 177 billion euros in bonds regulated under Greek law ...
Benito Mussolini, the fascist ruler of Italy, during World War II, said that his brand of fascism ‘should be more appropriately called Corporatism, because it is a merger of state and corporate power’. Compare this with the dictionary definition of capitalism: ‘A system in which a country’s business and industry are controlled and run for ...
Subsidies? Well yes, but make them smart subsidiesNigeria: Subsidising the neighbours Nigeria’s Central Bank Governor, Sanusi Lamidi Sanusi, had a problem. In a recent live interview with the Aljazeera TV, he said that his country had to raise the retail prices of all petroleum products to match the rising international prices, despite the violent and ...
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." ...
Sri Lanka’s benchmark stock index, the world’s worst performer this year, may extend its slump as the central bank raises interest rates to curb inflation, according to HSBC Holdings Plc’s private banking unit. HSBC Private Bank, which oversees about $499 billion, will wait for stock valuations to fall to “single digit” multiples before it considers ...
Iran’s parliament said on Tuesday it was ready to impose a ban on oil exports to some European states, the country’s English-language Press TV reported. “In retaliation to the Zionist (Israel)-backed measure of the European countries to ban Iran oil, we are ready to impose a ban on oil exports to some European countries,” ...
Reuters: India cut cash reserve requirements for banks by 50 basis points on Tuesday to ease tight liquidity conditions, signalling a shift in policy towards reviving growth after two years of fighting inflation. With core inflation still stubbornly high, the Reserve Bank of India as expected left its policy repo rate unchanged at 8.50 percent ...
Rotating Savings and Credit Associations and the Finance Business Act No. 42 of 2011Cheetu or Rotating Savings and Credit Associations (RoSCAs) are the world over a well-recognised method of savings and capital accumulation for the poor and marginalised. Advocate E.B. Wikramanayake B.A., in his Legal Dictionary for Ceylon (1948 Edition) describes a cheetu club as ...
Sampath Bank with effect from 1 January has got a new Chairman and several new youthful additions to its Board of Directors. The Bank announced on Friday that at a Board of Directors meeting held on 29 December Chairman I.W. Senanayake decided to step down with effect from 31 December. Whilst accepting this decision the ...
By Dinali Goonewardene Prathilaba was telecast on Rupavahini on Sundays at 10 a.m. The TV documentary, a studio discussion on investing in the stock market was commissioned by the Securities and Exchange Commission and panellists from the stock market industry participated. These included stock brokers, research analysts, fund managers and officials from the Colombo Stock ...
Arrenga Capital Research takes a deeper look at Budget 2012 and impact on select listed companies 1. A challenging deficit target – 6.2% of GDP in 2012 I. Government revenue targeted to grow by 20.2% YoY to Rs. 1,126.1 b (14.7% of GDP) II. Total Government expenditure to rise 14.1% YoY to Rs. 1,594.9 b ...
By Chamitha Kuruppu The Janatha Vimukthi Peramuna claims spending Rs. 265 billion on an 11-day extravaganza is intolerable for an economically ailing country like Sri Lanka. Addressing a media briefing the JVP warned that the aftermath of hosting the 2018 Commonwealth Games would not be rosy as the Rajapaksa administration predicts According to JVP Propaganda ...
Reuters: Residents fled Thailand’s capital, Bangkok, on Thursday after authorities warned the city would soon be flooded and called a special five-day holiday to let people escape. Traffic in central Bangkok was light as the holiday began but a main road out of the city to the flood-free south was jammed. Many people were heading ...
The courage the Government has demonstrated in cancelling the CATIC deal and yet feeling secure, rather than embarrassed by it, must be recognised. It is a responsible step, a prudent decision, which will have enduring benefit both in terms of national policy and FDI strategy. This step will also earn the respect of the indigenous ...
Reuters) – European Central Bank President Jean-Claude Trichet said the European Union’s treaty should be changed to prevent one member state from destabilising the rest of the bloc, and urged stronger governance of the euro zone. “In my view it is necessary to change the treaty to prevent one member state from straying and creating ...
Reuters: Rahul Gandhi, heir to the family dynasty that has dominated politics in the world’s biggest democracy for generations, was trying to make himself heard in the uproar of Parliament. Looking nervous, he read haltingly from a prepared statement, criticising as “anti-democratic” a popular anti-corruption campaign led by activist Anna Hazare, whose hunger strike was ...
Reuters) – China’s trade surplus fell sharply in August as exports pulled back from a record high and imports jumped, indicating the world’s second-largest economy is feeling the pinch from weaker global growth while domestic demand remains resilient. China’s exports rose