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A total of 350 key business professionals in Karachi were hosted by the Chartered Institute of Management Accountants (CIMA) Regional Division for an evening meeting on the theme ‘Harnessing the True Potential of Pakistan,’ which was a first-of-its-kind in the Pakistani financial capital Karachi. The event attracted the key political movers and shakers of Karachi ...
- Sri Lanka call off Pak tour (Category: Breaking News)
- Sri Lanka trade delegation to participate in Expo Pakistan (Category: Breaking News)
- Consul general says Lanka, Pakistan FTA not exploited (Category: Breaking News)
- Vast potential exists to enhance Pak-Lanka trade: SL Consul General (Category: Business)
A laudable goal that needs much more workSocial justice to be the Government’s development philosophy The development philosophy of the present Government, as pronounced in the Annual Report of the Ministry of Finance and Planning for 2011 released two weeks ago, is a blend of social justice with economic progress (p 14). This is a ...
- Navigating India’s Future: A Deep Dive into Modi’s Governance (Category: Breaking News)
- Sri Aurobindo: Mystical Awareness Supplants Production (Category: Breaking News)
- Making Sense Of The UNPs Elusive Victory In The Colombo MC (Category: Breaking News)
- 1972: A Historic Opportunity Missed (Category: Breaking News)
Bold measures The Government of Sri Lanka introduced a number of bold macroeconomic stabilisation measures in February/March 2012. These were necessary as the country was on a trajectory to a very destructive balance of payments crisis. It is still too early to determine whether enough has been done to stabilise the balance of payments, particularly ...
- Lanka growth to dip below 7.5% – IMF (Category: Business)
- CCC says no room for complacency (Category: Business)
- Moody’s say IMF funds to Sri Lanka is ‘credit positive’ (Category: Business)
- Treasury Chief urges help for balance of payments (Category: Business)
The instrumental use of the 1978 Constitution When the UNP came to power in 1977, it had a massive mandate to do whatever it desired and it took advantage of the situation by promulgating a new constitution with an all-powerful executive president. There have been many discussions since then, but successive governments took refuge under ...
- Restoring Parliamentary Government (Category: Breaking News)
- 18th amendment will lead to a dictatorship – Karu Jayasuriya (Category: Breaking News)
- Until The ‘South’ Learns What Democratic Rule Is… (Category: Breaking News)
- UPFA General Secretary’s response to UNP Dy Leader (Category: Breaking News)
I refer to your ‘Letter to the Editor’ on 31 May 2012. It is surprising that an economist of Dr. P B Jayasundera’s calibre and experience would need to be told that protectionism is not the right tool for increasing local production and exports. However, when I saw the name of the author of the ...
- Seminar on Advanced Agricultural Technology and Quarantine Regulations (Category: Business)
- Airport for Kandy: Agriculture Minister opposes selected location (Category: Breaking News)
- Tea crop rebounds in November (Category: Business)
- Bahrain launches $265 million food security fund (Category: Business)
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
- SEC To Work Towards Strengthening Investor Protection (Category: Business)
- Regulatory framework in place for Exchange Traded Funds (Category: Business)
- Top Govt. politico among investors summoned by SEC via ‘fiery’ notice (Category: Business)
- ‘Those who live by the Dhamma are protected by the Dhamma’ SEC Chief tells investors (Category: Business)
Sri Lankaandrsquo;s economy along with that of many other Asian, African and Middle-Eastern markets would be drastically affected in the event contagion of the EU crisis is not duly contained, Standard Charted Research has warned.
The Colombo stock market fell 2.8 per cent yesterday wiping out Rs. 20 billion in value to hit a 23-month low as domestic and foreign investors sold on both worry global gloom and a weak rupee and the outlook for interest rates. The main index ASI fell 136.58 points to 4,748.60, its lowest since July ...
- Stocks fall amid profit-taking in overbought market (Category: Business)
- Stock market at two-week low; block deals boost activity (Category: Business)
- Shares down on foreign selling (Category: Business)
- Stocks at 23-month low; Rupee stronger (Category: Business)
The global economy is a platform for increasing competition among businesses across industries and economies, where the Sri Lankan market economy is no exception to this norm. While the west is struggling to curb the Eurozone crisis, the Middle East strives to maintain stability in the crude
- Politicians and scared images (Category: Breaking News)
- Unfair Competition (Category: Business)
- Hayleys to Extend 'Flower Power' to Market (Category: Breaking News)
- BPA says low snowpack means revenue loss (Category: USA, Washington)
NEW YORK (Reuters): US money managers dumped global stocks and sought high-quality corporate bonds in May as concerns over Europe’s debt crisis and perceived risks to the US economy intensified, a Reuters poll showed last week. The poll, which surveyed 15 US-based fund managers between 16
- May annual inflation rises to 7% (Category: Business)
- CB Chief urges more corporates to go for bonds after BOC’s mega success (Category: Business)
- China to create $300 b FX investment vehicle (Category: Business)
- Gold not a reliable inflation hedge-study (Category: Business)
Government’s commitment: Will improve state enterprises The Annual Report of the Ministry of Finance and Planning for 2011, just released, has, among many others, one important positive message for the nation. It has reiterated the Government’s commitment, as it had done earlier too, to improving the performance of what it calls State Owned Business Enterprises ...
- Taming the ‘monsters’ (Category: Business)
- Electrifying losses (Category: Business)
- C-Suits focus on implementing Enterprise Risk Management on enterprise-wide (Category: Business)
- Sajith slams Expropriation Bill (Category: Business)
Richard Pieris Group (RPC), one of the largest and most diversified groups in the country with history and tradition of 80 years, has reported outstanding financial performance during 2011/12 reporting a record turnover of Rs. 31.5 b, which is a growth of 15.6% during the period under review. The retail sector contributed 44% towards Group ...
- RPC posts strong results for 9 months (Category: Business)
- Richard Pieris records turnover growth of 12% (Category: Business)
- Arpico Gears For Expansion (Category: Breaking News)
- Softlogic’s FY2011 pre-tax profit tops Rs. 1 b mark (Category: Business)
Reuters: Asian shares and the euro extended losses on Friday as China’s factory activity data delivered its weakest reading this year, highlighting concerns the worsening euro zone debt crisis will further undermine global economic growth. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1 per cent after ending May with a 10.9 per cent ...
- Asian shares at 3-month high after China inflation (Category: Business)
- Asian markets slip Wall St. losses, profit-taking (Category: Business)
- Asia shares ease after recent gain, policy bets persist (Category: Business)
- Asian shares inch down, mark time before Jackson Hole (Category: Business)
UNP MP Ravi Karunanayake has written to Committee On Public Enterprises (COPE) Chairman D.E.W. Gunasekara requesting him to summon officials of the Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE) over the fiasco in capital markets and boost investor confidence. Following is Karunanayake’s full letter to the COPE Chairman: Over the last ...
- SEC Chief insists on independence at COPE (Category: Business)
- Fresh motion to summon Ex-SEC Chiefs before COPE (Category: Business)
- Chandra J writes to COPE Chief over SEC (Category: Business)
- Peoples Bank Nonperforming loans Rs. 54 billion in 2021 (Category: Breaking News)
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
- ‘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)
International arrivals into Asia/Pacific1 destinations grew by a collective 7% year-on-year during the first two months of 2012, according to preliminary data released by the Pacific Asia Travel Association (PATA) last week. At this point Southeast Asia is the fastest growing destination, followed by South Asia, however, both sub-regions generated somewhat slower growth than last ...
- Asia Pacific visitor arrivals up 3% in May (Category: Business)
- Asia dominates in Asia Pacific tourism boom – PATA (Category: Business)
- Asia Pacific tourism records 6% growth in 2011 – PATA (Category: Business)
- PATA says international arrivals up in April but growth rate slows (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)
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 ...
- Hub is no hoodoo, says TEA (Category: Business)
- Marketing 3.0 and Sri Lanka (Category: Business)
- ‘Pure Ceylon Tea’ or ‘tea hub’? The billion dollar question (Category: Business)
- Do people prefer coffee over tea? (Category: Business)
Sri Lanka and Kazakhstan have signed a Memorandum of Understanding (MoU) to expand the bilateral relations between the two countries and hold regular consultations between the respective foreign ministries. The MoU was signed during the visit of External Affairs Minister, Prof. G. L. Peiris to Kazakhstan on 24 and 25 May at the invitation of ...
- Sri Lanka and Kazakhstan to improve relations (Category: Business)
- GL off to Russia and Kazakhstan (Category: Business)
- G.L. to Russia and Kazakhstan (Category: Breaking News)
- Sri Lanka to strengthen bilateral ties with Qatar during Premier’s visit (Category: Business)
By an Analyst There is no doubt and there is near unanimity that overregulation by the previous Securities and Exchange Commission arising from inexperience, lack of knowledge and lack of correct strategies was the prime cause for the market collapse witnessed today. The SEC without any foresight and professionalism has introduced ad hoc legislation detrimental ...
- Serious decline of the stock market under the present SEC (Category: Business)
- Broker Credit Drives Up Market (Category: Breaking News)
- Politicos , Brokers ; Bourse’s Tailwind (Category: Breaking News)
- Majority of brokers recommend PLC IPO as buy (Category: Business)
President Mahinda Rajapaksa returned to the country Wednesday morning after a successful tour in the state of Qatar. President Rajapaksa participated in the 12th Doha Forum and Enriching the Middle East Economic Future Conference as an international guest of honor on a special invitation from Emir of Qatar Sheikh Hamad bin Khalifa Al Thani. Addressing ...
- MR in Qatar to attend economic forum (Category: Breaking News)
- President returns home from Qatar achieving more benefits and strengthening ties (Category: Breaking News)
- Qatar Govt., private sector bullish on Sri Lankan opportunities (Category: Business)
- Sri Lankan President leaves for Qatar to attend Doha Forum (Category: Breaking News)
Sri Lanka’s first-ever satellite technology company took form yesterday with the signing of the BOI agreement and promising $ 320 million investment in the long-term. SupremeSAT Ltd., the Board of Investment-approved venture, said it has very ambitious plans to take Sri Lanka into the global space race. “With an initial investment of US$ 20 million, ...
- SL space academy ready to blast off with Chinese expertise (Category: Breaking News)
- Pioneering space academy to be located in Pallekele (Category: Business)
- Lanka to launch its first satellite in 2015 (Category: Breaking News)
- Sri Lanka's First Satellite By 2015 (Category: Breaking News)
In mid February, the Ceylon Electricity Board (CEB) informed consumers of their intention to revise their electricity charges from the following month. The March electricity bill issued to the consumer by the meter-reader was based on previous rate. The April bill based on revised rates with the addition of fuel surcharge for March was sure ...
- More power cuts after China-built plant fails again (Category: Business)
- In the Chinese-built coal power plant of Norchcholai, there are more questions than answers. (Category: Breaking News)
- Chinese firm says coal plant failed after overuse (Category: Business)
- CEB is not a burden on national economy, says Power Minister (Category: Business)
Reuters: Sri Lanka’s central bank expects the steps it has taken to reverse a currency decline to drive the rupee past 125 to the US dollar, but it is not targeting a particular level, Central Bank Governor Ajith Nivard Cabraal said on Tuesday. The rupee is hovering around 129-130 despite a warning from the authorities ...
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Can and will sustain rupee defence: CB Chief (Category: Business)
- CB says no need for FX intervention (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
Parliament told EPF has lost Rs. 4.2 b in value over investments in five listed companies alone Last audited accounts of EPF presented in Parliament was for year 2009 only The main Opposition UNP yesterday in Parliament stepped up its charge on alleged mismanagement of funds of the EPF by the Central Bank, raising fresh ...
- Ranil raises red flag over EPF, ETF in Parliament (Category: Business)
- What the UNP Leader told Parliament (Category: Business)
- EPF is well managed, not corrupt: CB Chief (Category: Business)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
Majorities in over half of the 21 Asian countries and regions Gallup surveyed in 2011 approved of their chief executives, with Lankan President Mahinda Rajapaksa among earning some of the highest marks. As per the survey released recently Laotians, Cambodians, and Sri Lankans were the most likely to express support for their leaders, with over ...
- 91 percent approval rating for President Rajapaksa – Gallup Poll (Category: Breaking News)
- PM Modi tops list of most popular world leaders with 75 pc rating: Survey (Category: Breaking News)
- Fitch labels Lanka a ‘highest-risk financial system’ (Category: Business)
- RAM assigns BB-/NP rating to Divasa Finance (Category: Business)
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 ...
- Fonseka says ‘Government must go’ (Category: Business)
- Sarath Fonseka will be released soon, says President (Category: Business)
- Letting the General out of the bottle (Category: Business)
- Sarath Fonseka gets conditional bail (Category: Business)
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 ...
- Harsha rebuffs CB’s rosy EPF story (Category: Business)
- CB says EPF investments are long-term and of value (Category: Business)
- EPF defends its investment strategy (Category: Breaking News)
- UNP MP renews warning over fate of EPF’s questionable investments in stock market (Category: Business)
Doha: President Mahinda Rajapaksa vowed to turn his country, recovering from three-decade long terrorism, into an economic and commercial hub of the region. Addressing the 12th Doha Forum and Enriching the Middle East’s Economic Future Conference at the Doha Sheraton Hotel on Sunday (20) morning as an international Guest of Honour, President Rajapaksa said Sri ...
- Rishad arrives in Qatar for Doha Forum 2012 (Category: Business)
- President Mahinda Rajapaksa & Sheikh Hamad bin Khalifa al Thani, the Emir of Qatar (Category: Business)
- CA Sri Lanka members in Qatar meet President Rajapaksa (Category: Business)
- Moors Youth Society celebrates Avurudu (Category: Business)
Record profit fuelled by Rs. 2.3 b in capital gains; core businesses post recovery with 23% pre-tax profit growthHayleys Plc share price on Friday produced one of its highest day gains of Rs. 16 as investors toasted record earnings in FY2012 largely fuelled by Rs. 2.3 billion in capital gains but its core businesses too ...
- Hayleys has a hearty FY12 (Category: Business)
- Double-edged deal (Category: Business)
- Hayleys quadruples 9-month net profit to Rs. 3.6 b (Category: Business)
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