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The global financial crisis of 2008/09 has not sent migrant workers streaming back home, despite worsening employment prospects and anti-immigration rhetoric in some destination countries, says a new book on migration and remittances, published by the World Bank last week. In fact, migrants may have mitigated some of the pain of the crisis as they ...
Reuters: Egypt’s Muslim Brotherhood claimed on Monday that its candidate had won the country’s first free presidential election, defeating Hosni Mubarak’s last prime minister and ending 60 years of rule by presidents drawn from the armed forces. An election committee source told Reuters that Islamist Mohamed Morsy, a U.S.-educated engineer, was comfortably ahead of former ...
Positive macro news and rumoured overhauling of SEC among other State entities trigger buying spree; some analysts insist rebound is due to attractive pricingThe Colombo Bourse on Friday shot up by over 100 points before losing some momentum, with the earlier development being linked by some analysts to positive macro news and a rumoured overhauling ...
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 ...
RIO+20 is the next focus point for the world and as President Mahinda Rajapaksa takes Sri Lanka’s concerns to this international forum, it is perhaps time for a larger discussion on its importance to a developing country as well as the world at large. Twenty years ago, it was mostly people who were displaced by ...
BEIJING (Reuters): China’s annual economic growth could fall below 7 percent in the second quarter if weak activity persists in June, an influential government adviser was quoted on Wednesday as saying. The forecast by Zheng Xinli, a former deputy director of the Chinese communist party’s policy research office, is among the most bearish by any ...
Recognised as one of the best-performing publicly-traded corporations in Massachusetts Virtusa Corporation, a global IT services company that offers a broad range of information technology services, including IT consulting, technology implementation and application outsourcing, today announced that it has been named to the Boston Globe’s Globe 100 List, a prestigious ranking of t...
Reuters: President Barack Obama stressed on Friday the U.S. economy was “not doing fine,” seeking to clarify his earlier comments about the health of the private sector that Republicans pounced on to try to paint him as out of touch. Speaking to reporters in the Oval Office, Obama
Reuters: Commodities from oil to copper and Asian shares tumbled on Friday, while risk aversion lifted the dollar, after Federal Reserve Chairman Ben Bernanke disappointed investors looking for a clear signal of further U.S. monetary stimulus. The reaction to Bernanke’s congressional testimony, which left uncertainty over the Fed’s policy decision at its June 19-20 meeting, ...
With new features and new children’s products to come, Emirates stays at the head of the pack inflight In its on-going efforts to invest in the latest entertainment content and newest systems, Emirates has recently upgraded the hardware on its new Boeing 777 fleet to bigger, much wider, and digitally-enhanced screens for its winning inflight ...
Historically, capital markets have played an important role in the development of market economies and therefore the development of efficient regulation of securities too has become increasingly important. While fostering the development of the economy, the capital markets also play
Many a corporate celebrated the World Environment Day with much vigour.
Reuters: Oil prices near $100 a barrel are still a threat to a slowing global economy that is likely to consume less fuel than the International Energy Agency (IEA) had forecast, the IEA’s executive director said on Tuesday. Brent crude this week dropped to a 16-month low below $96 a barrel
Reuters: Indian export data released on Friday confirmed a sharp slowdown in foreign trade, adding to the woes of Asia’s third-largest economy and piling more pressure on the weak coalition government to take steps to boost economic growth. Indian exports inched up 3.23 percent to $24.5
. economy added just 69,000 jobs in May, less than half what analysts expected ...
By Cassandra Mascarenhas The biggest mobile forum in the region, the South Asian Mobile Conference was held for the third year in Colombo earlier this week, bringing together some of the world’s top experts in the mobile sphere, developers of the next generation, researchers, academics and policy makers, creating a platform for a chance of ...
TOKYO (Reuters): Asian shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain raised fears that it could fail to rescue its banks and may need to seek a bailout. Investors fled from risk assets to U.S. government ...
Every day we wake up to news from the economic front – and that is the war we declared after the conclusion of the 30-year conflict and with some zeal – and sometimes the figures and news are not quite enthralling, maybe to some extent we should take up the same battle positions here too. ...
SINGAPORE (Reuters): China’s total in 2012, fuelled by demand from the automobile and other sectors, a senior rubber industry official said last week, despite a slowdown in the world’s second-largest economy. China accounts for 35 percent of global natural rubber consumption
Ballooning trade gap Even with the multitude of measures taken to curb imports, Sri Lanka's cumulative trade deficit widened to nearly US$ 1.7 billion in the first two months of the year with earnings from exports increasing marginally by 3.3 per cent to US$ 1.8 billion whilst import expenditure shooting by 24.7 per cent to ...
Sri Lanka has thrown open it $ 1 billion packaging sector for the vital SMEs. It also wants the packaging sector to enter exports sector targeting India and China. “Since the future of packaging, appear to head towards niche consumer markets, and our region’s major buyers India and China are demanding more and more packaging ...
Former Army Commander Sarath Fonseka walked free from jail yesterday with a pardon from President Mahinda Rajapaksa, who appears to have bowed to growing international demands that he release his highest-profile rival while erasing the image of him as a victim. Ex-General Sarath Fonseka kissed his hands and raised them to a group of 2,000 ...
The Employees’ Provident Fund (EPF) yesterday categorically rejected the statement allegedly made by an Opposition Member of Parliament as reported in several news papers on 15 May 2012, where the EPF has been accused of fraudulent transactions in the stock market. "Such statement, read in conjunction with several past statements of a similar nature made ...
Reuters: China’s premier called for additional efforts to support growth on Sunday, signalling Beijing’s willingness to take action after a recent series of economic indicators suggested that the world’s second-biggest economy will slow further in the second quarter. “
The tea export industry is without doubt one of the key drivers in the growth of the Sri Lankan economy. Although tea export today earns the nation over US$ 1.6 billion, the potential remains, in the near term, to rapidly grow this industry to almost US$ five billion.andnbsp;
Bajaj - the No. 1 Motorcycle brand in Sri Lanka, continues its leadershipandnbsp;andnbsp; ride island-wideandnbsp; by providing timely, cost-effective solutions to all segments of the market. andnbsp;
Boating industry thanks Industry Minister for strong support Sri Lanka enters prestigious International Boating Industry Magazine rankings Sri Lanka’s commercial boat sub-sector reporting stronger international orders from Asia, Africa and ME Introducing a much-sought-after measure of relief to Sri Lanka’s boating industry, the country will now introduce tax on boat imports that are la...
The Colombo stock market recorded the third lowest turnover for the year, with activity levels and investor interest tumbling down. Arrenga Capital said turnover recorded was a mere Rs. 168 while volumes were moderate at 22 million. Both indices started the day on a positive note with ASPI 18 points up and MPI 22 points ...
Reuters: The euro hovered near four-month lows and European shares extended their losing streak on Thursday, as investors avoided riskier assets due to the deepening turmoil in Greece and fears of contagion spreading to other stressed euro zone economies. News that some Greek banks face emergency funding needs dealt a further blow to risk sentiment, ...
Reuters: Asian shares fell on Monday after weekend talks to form a new Greek government failed and China’s latest move to loosen monetary policy highlighted concerns its economy is faltering, prompting investors to further trim their exposure to risk. MSCI’s broadest index of Asia