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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 ...
- 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)
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)
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)
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)
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)
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)
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)
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)
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 ...
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- The Economic Impact of Exchange Controls (Category: Business)
- Living with debts (Category: Business)
- Strategies on reducing or getting out of foreign debt (Category: Business)
A spike in the cost of food staples like rice and wheat could push tens of millions more people into extreme poverty in South Asia, but food subsidies targeted at the very poorest in the region would help them cope with still-high prices, says a new report by the Asian Development Bank (ADB). South Asia’s ...
- Poverty Threat (Category: Business)
- No inflation respite for Asia despite fall in food, fuel prices (Category: Business)
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Currency depreciations risk intensifying global food, energy crisis – World Bank (Category: Breaking News)
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 ...
- Asian shares fall, dollar spikes vs yen on intervention (Category: Business)
- Dollar debt set to remain sparse and steep in Asia (Category: Business)
- Commercial Bank offers NRFC accounts in Chinese Yuan (Category: Business)
- Singapore expected to keep monetary policy on hold (Category: Business)
Tyranny of the international capital markets Dr. Indrajit Coomaraswamy, ex-Central Banker and International Civil Servant, did not mince words when he addressed the country’s exporters last week. The veteran economist, having made an assessment of the risks associated with Sri Lanka’s external sector crisis, warned that the country will have to grapple with “the tyranny ...
- High costs of poor performance or high returns of sound management (Category: Business)
- Appreciating exchange rates: Not a boon always (Category: Business)
- Flexible exchange rates and impact on exporters (Category: Business)
- No more IMF loan for Sri Lanka (Category: Breaking News)
By Kusal Perera Groundviews.org: The media these few days, especially the English media, provides unusually high anti government coverage to the government’s latest move to push through a bill, classified as urgent. Titled “Revival of the Underperforming and Underutilised Assets Bill,” it sent many stories spinning round Colombo circles. More politically savvy circles talked abou...
- Harsha reminds Rajapaksa Govt. of Sirimavo’s fall after nationalisation (Category: Business)
- ‘Expropriation Bill’ is evil? (Category: Business)
- Irony Of The “Left” In Opposing Rajapaksa Amidst Buddhists (Category: Breaking News)
- Entrepreneur and the profit motive (Category: Business)
A reader of My View on popular fallacies of currency appreciation published in the previous few weeks has directed a series of questions to me. What is Central Bank’s mandate? Should it just target to stabilise the domestic prices? Or should it try to maintain stability in the exchange rate? Or should it work for ...
- Inflation – Public Enemy Number One (Category: Breaking News)
- Child’s Guide To Currency Board Systems: Steve Hanke’s Crusade For Currency Boards (Category: Breaking News)
- Appreciating the exchange rate to create prosperity (Category: Business)
The Maldivian administration’s key economic strategy is to engage the private sector and enable the diversification of the economy for sustainable development, said Mahmood Razee, Minister of Economic Development in the Republic of Maldives who was in the country to attend the fourth Annual General Meeting of the Sri Lanka-Maldives Bilateral Business Council recently. ...
- Maldives Hotel Asia 2012 from 10 to 12 Sept. (Category: Business)
- Budding Business (Category: Business)
- Seminar on bilateral trade between Maldives and Sri Lanka (Category: Business)
- Lankan businesses asked to invest in Maldives (Category: Breaking News)
Reuters: Sri Lanka’s stock market fell for a third session to a more-than six-week low on Thursday, following Asian peers on a gloomy global economic outlook, a local liquidity shortage and forced selling to meet margin debt reductions. The island nation’s main share index closed 0.45
- Controlling shareholder CFLB buys 12% more of Colonial Motors for Rs. 319 m (Category: Business)
- Bottomed Out or SEC change talk? Market opens week on the up (Category: Business)
- Royal Ceramics’ 2Q shines with half a billion pre-tax profit (Category: Business)
- Stock market up ahead of Budget; rupee weaker (Category: Business)
Last week, media were abuzz with two reports on how undesired exchange rate movements could worry governments. One was a currency under pressure for appreciation in the market and the other was a currency moving in the opposite. Swiss Franc: One way Journey to Appreciation The first was the case of the Swiss Franc which ...
- Six popular fallacies of currency appreciation – Part 2 (Category: Business)
- Swiss central bank intervention fails to stem franc’s rise (Category: Business)
- External value of the rupee: Market driven or Central Bank driven? (Category: Business)
- Rupee sinks to record low (Category: Business)
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 ...
- Think tourism (Category: Business)
- ETA examined (Category: Business)
- September tourist arrivals up 27% (Category: Business)
- South Africa’s Sun City to invest $ 800 m in Sri Lanka tourism (Category: Business)
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