Reuters: Bank of America Corp (BAC.N) is lagging behind its major U.S. competitors in complying with new capital rules, leading the bank to consider even more asset sales, sources said. The bank’s management is focused on not being an outlier compared to its peers and believes it has “viable alternatives” to increase its capital levels, ...

BEIJING (Reuters): China will start work on the world’s highest airport next year, in Tibet’s Nagqu town, state media said on Tuesday, which will be about 100 metres (328 ft) higher than the existing record holder in another part of the remote and restive region. Nagqu airport will be at an altitude of 4,436 metres ...

Saudi Arabia will soon allow foreign airlines to fly domestic routes, its aviation regulator said on Sunday, opening the market beyond state-owned Saudi Arabian Airlines (Saudia) and private National Air Services, which struggled to meet demand. The General Authority for Civil Aviation said in a statement carried by the state news agency it will let ...

(Reuters): Pakistan’s top judge moved on Friday to allay fears of a possible military coup as tensions rose between the civilian government and the country’s powerful generals over a controversial memo alleging an army plot to seize power. “There is no question of a takeover. Gone are the days when people used to get validation ...

SINGAPORE (Reuters): Asian stocks rose more than 1 percent and U.S. index futures also gained on Friday, as signs of a strengthening economy in the United States encouraged a year-end bounce for riskier assets. European shares were also expected to open higher, helped by a 0.5 percent rise in S&

Washington, Reuters: The US economy is gaining momentum and should push through next year with only a few bruises despite an almost certain European recession and slower global growth. A firming in the anemic US labour market should put the economy in reasonable shape to withstand headwinds

It is the season for giving, which we all know is a reason to look beyond ourselves and find some worthy cause to take up for Christmas. Everyone is familiar with the warmth connected with giving and the quiet pleasure in ensuring that someone else has a happy time as well. It can be something ...

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 ...

Reuters: North Korean leader Kim Jong-il died of a heart attack while on a train trip, state media reported on Monday, sparking immediate concern over who is in control of the reclusive state and its nuclear programme. A tearful television announcer dressed in black said the 69-year-old had died on Saturday of physical and mental ...

Reuters: The World Trade Organization (WTO) clinched a landmark reform of its government procurement agreement, opening $100 billion of government contracts to foreign competition and paving the way for more countries, including China, to join the pact. “It’s an extremely positive development for the parties to this agreement, for the organisation and for the world ...

New CEO Kapila Chandrasena upbeat on prospects for national carrier and Sri Lanka as a tourist destination post-warWhen the news of the impending change at the top in the national carrier broke, the Daily FT headlined the lead story on 6 May 2011 as ‘Turb-UL-ence,’ with a pun. But for the man in the hot ...

International Consultants Chairman Ranjiv Goonawardena had kindly invited the Sri Lanka Tourism Promotion Bureau to participate by showcasing the great opportunity that Sri Lanka has to offer, at the Islamic Real Estate Finance (IREF) Summit and Gala Dinner Awards Ceremony of which it was a sponsor. International Consultants sponsored for the second year the ninth ...

WASHINGTON: Despite some recent signs the sluggish U.S. economy might be improving, President Barack Obama warns it could be years before the country is on a sound footing. In excerpts from an interview with CBS’ “60 Minutes” program that will air on Sunday, Obama

Reuters: Already battered by corruption scandals, and less than a week after an embarrassing policy U-turn, the government admitted on Friday that it had accidentally inflated this year’s export figures by more than $9 billion. The cause was a glitch in the computer system that collates the trade data, Trade Secretary Rahul Khullar told reporters. ...

Reuters: Asia’s economic growth looks set to stumble over the next few months, prompting a flurry of interest rate cuts and a spike in stimulus spending that may ultimately pave the way for a strong recovery in the second half of 2012. “The catch-phrase for 2012 is the Asia yo-yo,” said Rob Subbaraman, chief Asia ...

WASHINGTON (Reuters): The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week, suggesting the labor market’s recovery was gaining momentum. The picture of an economy gathering strength was further enhanced by other data on Thursday

SINGAPORE (Reuters): Asia’s economic growth looks set to stumble over the next few months, prompting a flurry of interest rate cuts and a spike in stimulus spending that may ultimately pave the way for a strong recovery in the second half of 2012. “The catch-phrase for 2012 is the Asia yo-yo,” said Rob Subbaraman, chief ...

Reuters: China’s annual rate of export growth slowed in November versus October, vice commerce minister Chong Quan told reporters on Wednesday, confirming market expectations that deteriorating external conditions are dragging on the world’s No. 2 economy. “Export growth

PARIS/NEW YORK (Reuters): Standard & Poor’s has warned it may carry out an unprecedented mass downgrade of euro zone countries, including Germany and France, if EU leaders fail to deliver a convincing agreement on how to solve the region’s debt crisis in a summit on Friday. The ratings warning sent markets reeling and drew a ...

By Peter Day The Ray Wijewardene Charitable Trust that continues the legacy and the vision of the late Sri Lankan innovator is organising the inaugural ‘Ray Wijewardene Memorial Lecture’ to be held on 13 December 2011. The Ray Wijewardene Charitable Trust organises the lecture with the Institution of Engineers of Sri Lanka – of which ...

HONG KONG (AFP): Asian markets mostly rose Monday, lifted by strong US jobs data and Italy’s agreement of new austerity measures, while dealers were also looking ahead to a Franco-German meeting to save the euro. Investor confidence remained high after last week’s rally that was spurred by the decision of six major central banks to ...

Last week my phone beeped and the text message read ‘The Chairperson of the Security and Exchange Commission Indrani Sugathadasa had resigned citing reasons of values and principles for her resignation’. My mind went back to the time when this lady when she was the Board Director at EDB. Whenever tough decisions had be taken ...

Traditionally, the University of Cincinnati’s celebrated cooperative education programme has served as a bellwether for the overall economy. And if that tradition holds true, it’s good news for the economy. That’s because UC’s placement of co-op students with employers

By Cheranka Mendis With mobile penetration directly linked to increasing economic growth in a country, Sri Lanka with its bullish growth prospective stands to benefit heavily from the ever-expanding ICT and telecommunication sector. Alcatel-Lucent Asia Pacific President Rajeev Singh-Molares who was in Sri Lanka for a brief visit yesterday told the media that a World ...

After the recent Commonwealth Games in New Delhi, India, critics found three new words for the acronym ‘CWG’ – Corruption, Waste and lack of Governance. The Chairman of the Indian National Olympic Committee, who was Chairman of the Organising Committee, is presently in Tihar Jail, in Delhi with many of his acolytes, on charges regarding ...

No unanimity on exchange rate movement A front page headline news item in this paper on last Saturday had reported on an apparent division of opinion between the two top policy makers of the country, namely the Treasury Secretary Dr. P.B. Jayasundera and the Central Bank Governor Ajith Nivard Cabraal, on the depreciation of the ...

FRANKFURT (Reuters): Uncertainties caused by the euro zone debt crisis and a stuttering global economy could hit spending next year on holidays by Germans, the world’s top spenders on trips abroad, a German travel association said. “Our market researchers forecast moderate market growth

Reserve Bank of India, State Bank of Pakistan and Maldives Monetary Authority to participateThe first ever Governor’s Challenge Trophy- global commerce quiz will be held on 13 December in Colombo. The quiz has taken an international dimension with three major regional central banks participating along with the Sri Lankan corporate, banking and other sectors for ...

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 Monti that they trusted the independent central bank ...

The Free Dictionary defines impunity as ‘exemption from punishment or loss or escape from fines’. In the context of the international law of human rights, it refers to the failure to bring perpetrators of human rights violations to justice and, as such, itself constitutes a denial of the victims’ right to justice and to bring ...