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Admits growth may be slower but insists that all assistance will be given for investment Despite a growth downgrade in 2012, Central Bank Governor Ajith Nivard Cabraal insists that the Government is focused on encouraging private sector investment and will provide maximum assistance. Cabraal made these points as the Guest Speaker at the American Chamber ...
Still recovering from decades of civil war, Sri Lanka has attracted some private equity interest but firms have found it hard to rally LP support for the country PE Asia: Sri Lanka’s golden sandy beaches lie not 50 kilometres from India’s closest point, but the distance between the two countries’ private equity markets is ...
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
Warns that countries need tough policy changes to stimulate waning growth By Cheranka Mendis Asia Pacific faces another year of tough policy changes to stimulate growth, with Sri Lanka in particular having to manage monetary policy, control inflation, provide jobs for youth and reduce high inequality, it was revealed in a report released yesterday. The ...
Avoid haphazard dumping Ten billion-rupee turnover corporates annual reports of FY 2010 and 2011, public and public quoted commercial banks, were studied to ascertain whether there is a specific standard followed by the leading commercial banks when reporting corporate governance and also whether there is a mandatory requirement of following a particular order of content ...
ISMM President Danesha Perera and Senior Delegate and Past President Gerry Hidelaratchi attended the International Federation of Purchasing and Supply Management (IFPSM) Asia Pacific Council Meeting in Manila, Philippines on 22 and 23 April. The Asia Pacific Council Meeting was organised by the Purchasing Institute Supply Management (PISM) in Philippines under the guidance of the ...
REC yesterday announced that its industry leading solar modules have been selected by BAM Green, a leader in developing and providing renewable energy related services in Sri Lanka. Under the agreement, REC will supply its industry leading REC Peak Energy Series modules to BAM Green. REC solar modules were ranked first with the highest performance ...
I first visited Sri Lanka in 1997, shortly after a rebel bombing of the central bank headquarters had thrown the financial system into chaos. Military checkpoints made travelling around the capital city of Colombo rather punishing, but the overwhelming impression was of an utterly charming island and talented people trapped inside a seemingly endless civil ...
CB gives appraisal on economy, admits 2012 start under pressure but insists new policies have smoothed road ahead By Uditha Jayasinghe Regardless of emerging pressures, the Central Bank is confident that Sri Lanka will be able to weather economic storms in 2012, a top official said yesterday
Sri Lanka may miss its 2012 growth targets due to issues in the Eurozone and other export challenges, the Central Bank Governor said yesterday. Over 60 per cent of Sri Lanka’s exports, primarily garments, are to the US and Europe, which could have a detrimental effect on projected growth of 7.2 per cent, Central Bank ...
The IMF’s recently released Asia and Pacific Regional Economic Outlook (REO) shows the region continuing to lead global growth and expected to gain momentum over the course of 2012. This forecast, however, remains subject to downside risks related to the global economy, including
Sri Lanka hopes to continue its relationship with the International Monetary Fund (IMF) to boost foreign investment even after a US$ 2.6 billion Stand-By agreement ends in July, the Central Bank Governor said yesterday. Despite tenuous interaction in the past, Central Bank Governor Ajith Nivard Cabraal insisted that discussions with the IMF on a long-term ...
The Secretary General of UNWTO Dr. Taleb Refai, distinguished invitees, presenters, officials, representatives of the media, ladies and gentlemen, it is indeed a privilege for me and for my country Sri Lanka to be invited for this high level UNWTO conference to present our perspective of green tourism. UNWTO Secretary General Dr. Taleb Refai ...
n The Scholar who has refused to changeHumanistic approach Dr. Gunadasa Amarasekera, scholar, writer, poet, novelist, social activist and many more, in a special contribution to Professor Buddhadasa Hewavitharana Felicitation Volume Two released last month, has tried to analyse the most recent history of Sri Lanka in the context of the onset of the process ...
Even as prices of several essential items saw monumental increases last week, Central Bank Governor Ajith Nevaard Cabraal assures the country that inflation is at an all time low, foreign reserves are adequate and the Sri Lankan economy is sounder than ever.
Commercial ties offer many profitable opportunities, says Pakistan’s High CommissionerFollowing is the statement of the High Commissioner of Pakistan Seema Ilahi Baloch, on the occasion of the ‘Made in Pakistan’ exhibition 2012 Pakistan and Sri Lanka have traditionally enjoyed excellent relations. We also need to strive to add more substance to our economic cooperation and ...
‘Agni Salaru’ captures the imagination of the audience as they immerse themselves into a sensory wonderland which challenges the imagination through a multitude of creative, technology driven processes. The closing reception invites a select audience to experience a range of multimedia work from students within the department of Interactive Media Design. These projects range through .....
By Dr. Laksiri Fernando Asian Tribune: I am here not talking about Karen Connelly’s popular love story by the name of ‘Burmese Lessons,’ but rather Aung San Suu Kyi’s entry into Parliament as the Leader of the Opposition in Myanmar (or Burma) with 42 other members who were elected early April in a by-election from ...
A.T. Kearney, a well-acclaimed global management consultancy firm, was recently commissioned by ICT Agency of Sri Lanka (ICTA) to benchmark Sri Lanka as a destination for knowledge services exports. Sri Lanka was ranked 21st in the Global Services Location Index, a measure utilised by AT Kearney and was regarded as an impressive status given the ...
The Ceylon Chamber of Commerce, the legendary trade promotion organisation in Sri Lanka with a history of 173 years entered into a Memorandum of Understanding with the Foreign Trade Chambers Federation Rio de Janeiro – Brazil recently. “Private investors in Brazil will see this as a unique opportunity to work with Sri Lankan business conglomerates” ...
The highest oversubscription ever seen for a Sri Lankan international bond in April and KPMG’s latest positive Change Readiness Index ranking for Sri Lanka show the growing international investor confidence in the country, which prefers patient investments to hot money. “Sri Lanka has entered a new era of development thanks to the visionary leadership of ...
Much has been spoken of the Sri Lankan economy by different bodies including the guardians of the economy (the Central Bank and Government Treasury). There is constant backlash to the Government bringing out historical events while portraying a very bleak future, although the Government
W.A. Wijewardena faults me for using the GDP deflator as a proxy measure for general price level inflation. GDP deflator refers to a general price level and it is often used as a proxy to measure inflation in the economy. There is a well-known rule of thumb which tells us that the rate of inflation ...
May Day fever has left the air but many issues that could cause labour unrest remain unresolved in Sri Lanka. According to the International Labour Organisation (ILO), income inequality in Sri Lanka has grown significantly and is only behind China. A report released by the ILO says that in the Philippines and Indonesia, two countries ...
Sri Lanka, which was a low-income country (per capita income below $ 2,000) until a few years ago, has now reached lower-middle-income country status ($ 2,840). Of course, while Sri Lanka can be proud of this achievement, middle-income country status requires it to operate within a new paradigm. In the ’80s and to a lesser ...
Dear Editor, During the past few months, I have observed criticism, mainly by the Opposition Parliamentarians, about the manner in which the Sri Lankan economy has been managed. In my view, their attempts seem to be designed to impose blame on the Governor, Central Bank, perhaps to weaken
Positioning Sri Lanka in the Global Economy The Sri Lanka Economic Summit 2012, the flagship event of the Ceylon Chamber of Commerce (CCC), will be held from 10 to 12 July 2012 at the Cinnamon Grand, Colombo under the theme ‘Positioning Sri Lanka in the Global Economy’. This forum
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 ...
Finance Ministry Secretary Dr. P.B. Jayasundera yesterday insisted that the recent fall in the value of the rupee was unwarranted and blamed it on speculators as recent corrective policy actions had strengthened fundamentals for greater stability in the exchange rate. “The recent spike is due to speculation more than on fundamentals. I reiterate that the ...