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Says Central Bank ‘miserably politicised’; wants change at the top; warns of public, worker agitation UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday said the Government has to blame itself and take responsibility for the current economic crisis in the country. In a statement, Dr. de Silva said: “The ...
- Increase, to meet IMF conditions; UNP (Category: Breaking News)
- Central Bank report was not independent: Dr. Harsha de Silva (Category: Breaking News)
- Market will beat the Central Bank no matter how powerful the governor is: Harsha . (Category: Breaking News)
- UNP wants CB, EPF officials summoned before Parliament (Category: Breaking News)
Following are some responses from three economists to the guest column by Chandra Jayaratne titled ‘Important issues’ for Sri Lankan legislators, the Executive, policymakers, Central Bankers, economists and thought leaders to ponder over published on 2 February 1) I disagree with the Stiglitz-Krugman line. My diagnosis is that Europe is in this mess for two ...
- Important issues (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- Asian economies: Managing spillovers and advancing economic rebalancing (Category: Business)
- Sri Lanka’s economy stands to gain from a stronger Europe: German Envoy (Category: Business)
The Visible Hand of the government ‘The Visible Hand’ was the title which the famed London-based economics weekly, The Economist, used when it published a special report in its issue on 21 January 2012 on the rise of state capitalism in the modern era. The title has a pun
- Target 2048 – Economic Democracy Principles Should Be Followed To The Letter (Category: Breaking News)
- Corporatism: A step beyond state capitalism (Category: Business)
- A monetary constitution to add on to the legal constitution? (Category: Business)
One of my friends who visited from Australia had a problem with a branded computer he had bought from a renowned place in Colombo. Even though the company claimed the instalment basis with interest free as their special New Year bonanza, there was a different calculation altogether. Finally he had to pay more than the ...
- World Consumer Day: ‘Our Money Our Rights’ (Category: Business)
- SLIM-Nielsen Peoples Awards to be held for the seventh year (Category: Business)
- Arpico Supercentre launches new consumer promotional campaign (Category: Business)
- Winners from Coke promotion get all-expense paid trip in Switzerland (Category: Business)
Increasing risks and probability of natural disasters Consider the volcanic eruptions in Iceland and Congo, the destructive earthquakes that hit Christchurch, eastern Turkey and the East Coast of Tohoku in Japan, as well as the recent flooding in Thailand and one thing becomes clear about natural disasters – their risks, probability and consequences are higher ...
- David Roden on banking sector risk management (Category: Business)
- Ban urges global leaders gathered at UN to “shape the world of tomorrow” (Category: Business)
- Record CAT losses prompt two-speed insurance market (Category: Business)
- Clearing the clouds of the Asian outlook (Category: Business)
Facing the short-term economic challengesThe macroeconomic imbalances Sri Lanka has achieved a growth rate of 8.3% last year and inflation fell to 4.9% year-on-year in December 2011. These are noteworthy achievements at a time when the global economic landscape has been hostile with a slowdown in the US and a crisis in Europe; key markets ...
- CCC says no room for complacency (Category: Business)
- Commendable start; now for the finish (Category: Business)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
- Enhancing confidence in the Sri Lankan economy (Category: Business)
LTTE rump groups and pro-LTTE organisations are trying hard to achieve their separatist ideology in the countryDefence Secretary Gotabaya Rajapaksa on Tuesday said that there is a possibility of the re-emergence of the LTTE in Sri Lanka, as LTTE sympathisers abroad are still struggling to achieve the LTTE’s separatist ideology in the country. He made ...
- Sri Lanka is still under threat, warns Defence Secy. – Part I (Category: Business)
- Security is still critical in peaceful Sri Lanka – Gota (Category: Business)
- Country must utilise opportunity afforded by peace: Defence Secy (Category: Business)
“Our sense is that if we do not act boldly and if we do not act together, the economy around the world runs the risk of a downward spiral of uncertainty, financial instability and potential collapse of global demand… we could run the risk of what some commentators are already calling the lost decade” – ...
- W. Bank’s Zoellick says double-dip recession unlikely (Category: Business)
- Flashing red - European debt crisis signals collapse of social welfare state (Category: Business)
- World economy fragile, faces “uneasy calm” – IMF (Category: Business)
- G20 backs Europe’s plans for overhaul to fight crisis (Category: Business)
If the Governor of Central Bank has an urge to enter politics, he should come to Parliament without playing politics inside the CB, charges United National Party Parliamentarian and well-known Economist Dr. Harsha de Silva. Dr. de Silva notes that Governor Nivard Cabraal should respect the sanctity of the Central Bank and therefore if Cabraal ...
- Treasury Chief urges help for balance of payments (Category: Business)
- Nivard sees weak rupee recovering to 125 (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
I would like to thank the Organisation of Professional Associations for inviting me to be the Guest of Honour at this Induction Ceremony. I also take this opportunity to wish the incoming President and the members of the Council every success in taking this organisation to greater heights in future. Sri Lanka today is a ...
- Sri Lanka is still under threat, warns Defence Secy. – Part I (Category: Business)
- DEFENCE SECRETARY HAS WARNED THAT SRI LANKA IS STILL UNDER THREAT (Category: Breaking News)
- Security is still critical in peaceful Sri Lanka – Gota (Category: Business)
In the backdrop of the uncertain conditions that exists in some of Sri Lanka’s key tea exports destinations, attempting to analyse market prospects could have a strong element of ‘crystal ball’ gazing. Nevertheless, a logical approach would be to analyse the past performance of the industry and equate it to supply/demand scenarios that are likely ...
- Brokers mixed over tea industry’s prospects in 2012 (Category: Business)
- Sri Lanka secures direct access to fifth largest global buyer of Pure Ceylon Tea (Category: Business)
- Storm in Sri Lanka’s teacup: A more pragmatic approach is key (Category: Business)
- Tackling tea travails (Category: Business)
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 ...
- Dhammika to be appointed Chairman of Sampath Bank (Category: Business)
- CB clears five new nominees to Sampath Bank Board (Category: Business)
- Qualified daughters make their way to boards (Category: Business)
- Former CB Deputy Governor appointed to COMBank Board (Category: Business)
Central Bank has approved the five new nominees to the Board of Sampath Bank Plc in place of an equal number retiring by next week. The five nominees who are qualified and professionals in their respective fields are former International Finance Corporation (IFC) Sri Lanka and Maldives Resident Representative Sanjiva Senanayake, Orit Apparels Chairman Channa ...
- Sampath Bank Group CFO Ajantha de Vas Gunasekara joins Board of Directors (Category: Breaking News)
- ‘Siyapatha Finance to issue LKR 4 billion debentures, reinforcing commitment to growth’ (Category: Breaking News)
- Five new directors appointed to Asian Alliance Insurance Board (Category: Business)
- Kotelawala not available for re-election (Category: Business)
The Monetary Board, at its meeting held on 16 December 2011, has promoted four Staff Class Grade IV officers, A. Kamalasiri, R. Dheerasinghe, S.S. Ratnayake and K.D. Ranasinghe to the post of Assistant Governor with effect from 1 January, 2012. These promotions have been made in line with the succession plan of the Bank to ...
- Three new Assistant Governors for CB (Category: Business)
- Daulagala appointed new CBSL Deputy Governor (Category: Breaking News)
- Union Bank appoints former CB Deputy Governor to Board (Category: Business)
- Jayatissa new Chairman of Insurance Corp. (Category: Business)
The Reserve Bank of India (RBI) has decided to create a separate category of Non Banking Financial Company – Micro Finance Institution (NBFC-MFI). This implements a recommendation of the Malegam Committee Report on Micro Finance in India, which was appointed subsequent to the MF crisis due to indebted farmer suicides in Andhra Pradesh. The NBFC-MFI ...
- Finance: Restrictions on use of the word (Category: Business)
- Regulation of microfinance institutions (Category: Business)
- Unregulated microfinance - A high-risk strategy (Category: Business)
- ‘Divi Neguma’ Dept: Development catalyst, dependency creator or a white elephant? (Category: Business)
Plastic crates: Universally used in agri markets In 2002, the writer had a chance of visiting a few farms in Czech Republic, some 200 kilometres away from its capital, Prague. They were all medium sized farms owned by private individuals producing such products as vegetables, fruits and honey. At the time of the writer’s visit, ...
- Polypropylene sacks versus plastic crates - Lack of participation in decision making (Category: Business)
- The Crate Debate (Category: Breaking News)
- Cutting post-harvest losses (Category: Business)
- Chaos over veggies in plastic crates (Category: Business)
We are still stuck in the winter of our discontent! By Jude Fernando Groundviews.org: “Nearly all children nowadays were horrible. What was worst of all was that by means of such organisations as the Spies they were systematically turned into ungovernable little savages, and yet this produced in them no tendency whatever to rebel against ...
- Exercising civic responsibilities (Category: Business)
- Ranil Wickremesinghe’s Sixth (Mis)adventure: An Indisputable Reason For The ‘Aragalaya’ To Stay ... (Category: Breaking News)
- Making Sri Lanka a ‘democratic hub’ for ‘Wonder of Asia’ (Category: Business)
What do nation states do when their politicians ruin their economies by serial lying to the voters, running up huge domestic and international financial deficits, uncontrolled corruption, cannot keep interest rates at reasonable rates, cannot control inflation nor hold the exchange rate steady and run the country on an unsustainable basis, depending on what has ...
- Inept’ocracy (Category: Business)
- Mario Monti named to head new Italy government (Category: Business)
- Asia stocks rise on hopes of progress in Europe (Category: Business)
A striking feature of both the Mahinda Chinthana – A Vision for the Future and the Budget 2012 is the open rejection of neoliberal economic models and the portrayal of the government policy as a special model developed indigenously for the country. Mahinda Chinthana rejects neoliberal models apparently on the ground of their high failure ...
- A Child’s Guide To Modern Monetary Theory: Keynesianism In An Old Bottle? (Category: Breaking News)
- A Child’s Guide To Modern Monetary Theory: Keynesianism In An Old Bottle? (Category: Breaking News)
- A Child’s Guide To Modern Monetary Theory: Keynesianism In An Old Bottle? (Category: Breaking News)
- A Child’s Guide To Modern Monetary Theory: Keynesianism In An Old Bottle? (Category: Breaking News)
The Central Bank released its latest educational publication titled ‘Analysis of Basic Economics Principles,’ authored by P. Samarasiri, Assistant Governor supervising the financial system stability cluster of the Central Bank. This book has been compiled based on key topics
- Rupee depreciation: Rs. 145 to US dollar by year end Eran (Category: Breaking News)
- Sri Lankan Central Banker releases book titled “Analysis of Basic Economic Principles” (Category: Breaking News)
- Sri Lanka Central Bank restricts use of 'finance' on titles (Category: Breaking News)
- Sri Lanka’s time has come! (Category: Breaking News)
By Chamitha Kuruppu The JVP yesterday described the Government’s move of not increasing the salaries of over seven million private sector workers as “taking vengeance” on them for going against its private pension bill. The party states that the government’s failure to grant a salary increment for the private sector is clear evidence that they ...
- JVP to launch islandwide anti-Government protest (Category: Business)
- Obama says it’s clear US economy ‘not doing fine’ (Category: Business)
- India’s economic growth to quicken in 2013 – OECD (Category: Business)
UNP Co-Deputy Leader Karu Jayasuriya The Budget lacks direction and is neither here or there. For the consumer, it is inflationary; nor does it instil investor confidence. It has a political aim but lacks an economic aim. Furthermore, it does not address the productivity of employment; nor does it address the salaries of professionals and ...
- Blame tough decisions, says Rann (Category: South Australia)
- Vic Govt begins budget sell (Category: Australia, Victoria)
- Muzammil’s moves to deliver on manifesto (Category: Business)
- Govt. takes vengeance on private sector over pension bill – JVP (Category: Business)
This was written upon following recent events that unfolded in our midst which made one wonder if we adequately managed our natural assets at our national parks and protected areas… many lovers of nature and concerned persons presented varied views in the print and e- media. On the global front we also observe the intensified ...
- Economic cost vs. ecological cost (Category: Business)
- Pakistan ‘A’ win 8th Lawyers Cricket World Cup (Category: Breaking News)
- UK and Sri Lanka jointly work to protect the Red Slender Loris (Category: Business)
- To a Sri Lankan at heart (Category: Breaking News)
Discussion on the validity of non-military engagements of the military The war or internal armed conflict in the north and east is over; the Emergency is no more; but still the military is everywhere. The military is now engaged in peacetime police-work, whale watching, selling vegetables, agriculture, cleaning, constructions and many other non-military activities. Yet, ...
- Military in Sri Lanka encroaching on civilian control of government (Category: Breaking News)
- Sri Lanka will act on evidence of atrocities by troops (Category: Business)
Occupy Wall Street, occupy the London Stock ExchangeThe frustrations caused to the unemployed, the poor and the marginalised by the international and national economic crisis has spilled out onto the streets in the capital cities of the world’s leading and emerging economies. It has spread at the last count to over 900 cities in over ...
- Arthur 'Art' Schultz: 1933-2011 (Category: USA, Illinois)
- Measuring sustainable wellbeing (Category: Business)
- Income inequality: How the rich got richer and what politicians are doing about it (Category: Business)
- Wall Street protest plans global rally ahead of G20 (Category: Business)
The Institute of Policy Studies or IPS has once again issued its annual assessment of the Sri Lanka’s economy in 2011 six months before the Central Bank of Sri Lanka would do so in March next year. Though the report contains a fair, constructive and elaborative assessment of the state of the economy, no adequate ...
- From poverty to sustainability in Sri Lanka (Category: Business)
- Equity and well-being in Sri Lanka (Category: Business)
- IPS releases ‘Sri Lanka: State of the Economy 2011’ report (Category: Business)
MP charges that Government is focusing only on physical infrastructure and adopting a top-down development approach instead of a more inclusive and participatory humane political futureUnited National Party Parliamentarian Eran Wickramaratne asserts that the Government is depleting the resources of the municipality on an election extravaganza. In a candid interview with the Daily FT, the ...
- Hashim on UNP leadership crisis, pressing national issues (Category: Business)
- DPF to the fore (Category: Business)
- “UPFA will win the election” (Category: Business)
- Muza upbeat on Colombo (Category: Business)
By Cheranka Mendis Asia, which is estimated to contribute 52 per cent to the world’s GDP by 2050, has turned back a 260-year spell of declining contribution to the global GDP within a 80-year period and is now poised for better growth. Central Bank Governor Ajith Nivard Cabraal addressing the Asian Bankers Association General Meeting ...
- KPMG holds 10th MESA Conference in Colombo (Category: Business)
- Banking foresight – Shaping integrated development (Category: Business)
- Lion leads frontier markets (Category: Business)
With the World Bank announcing that the world economy is teetering on “a new danger zone,” it is of paramount importance for governments and financial power-houses to restore confidence through concrete policies and systematic financial planning. This is the order of the day, given the recent pessimistic report on the world economy delivered by Morgan ...
- IMF Chief Lagarde emphasises Asia, China role in global recovery (Category: Business)
- Global economy’s ‘timid’ recovery faces high risks: Lagarde (Category: Business)
- Global growth worries dent Asia business sentiment in Q3 (Category: Business)
- China can easily boost consumtion to strengthen its economy: IMF (Category: Business)
How the business lobby should involve itself in public policy implementation Lobbying is the systematic attempt at influencing the decision making process of the government. This is a no mean task for an individual but collective efforts by the likeminded individuals and organisation could have a drastic effect on the policy making process. Lobbying is ...
- Foreign policy and the Government’s credibility (Category: Business)
- The Katchatheevu Sovereignty Commission (Category: Business)
- The pro-separatist lobby overseas and diplomacy (Category: Business)
- Public diplomacy: A missing dimension in our foreign policy (Category: Business)
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