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By Cheranka Mendis While the rupee has been hitting record lows on a continuous basis for the past few months, the business community and general public have been abuzz, with speculation rife that a rupee crisis is taking place in the country. Gathered to discuss whether or not there is a rupee
- Sri Lanka Devalues Rupee, Plans Tax Cuts to Support Growth (Category: Breaking News)
- Sri Lanka may allow Indian rupee to be used in local transactions (Category: Breaking News)
- Sri Lanka rupee makes gains over major currencies  Minister (Category: Breaking News)
- CB intervenes again to defend rupee (Category: Business)
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 his resolve and strength and discourage him. ...
- Sri Lanka could miss 7.2% growth target (Category: Business)
- Lankan team for U19 World Cup (Category: Business)
- Toastmasters dazzles at the Semi Annual Conference in Mangalore (Category: Business)
MAY Day is for the workers. Therefore it is the best time to take into account the hardships as well as duties that are the birth right, so to speak, of every worker. Sri Lanka is well-known for its pro-employee labour laws, which have been kept largely unchanged, during the last few decades. However, the ...
- ‘This May Day embrace change in world of work’ says EFC DG (Category: Business)
- Blacklisting – the real crime? (Category: Business)
- A record number of Lankans secure foreign employment – Minister (Category: Breaking News)
- More employment opportunities for Sri Lankans in Seychelles (Category: Breaking News)
In recognising International Workers’ Day on 1 May, the Employers Federation of Ceylon (EFC) Director General Ravi Peiris has urged all stakeholders to embrace the change in the world of work. He also emphasised the need for progressive labour legislation if Sri Lanka is to successfully manage the inevitable changes in the world of work. ...
- Meaningful May Day (Category: Business)
- Sri Lanka - NDB Bank celebrates Universal Children’s Day (Category: Education)
- Linking cultures - World Tourism Day 2011 focuses on empowering youth (Category: Business)
- World growth at risk as US employment stumbles (Category: Business)
CB asks banks overnight for their forex commitments for Thursday and Friday; steps up bank visits Convenes meeting with treasury heads of banks; rupee crisis figures in monthly CB-bank CEOs meeting as well Dealers say no room for speculation given the very narrow net open positions; new rules apart
- Markets becalmed (Category: Business)
- Rupee sinks to record low (Category: Business)
- Rupee on a yo-yo! (Category: Business)
- An effective consumer lending proposition (Category: Business)
With the post war scenario unfolding overseas in a different form, Sri Lanka seems to be at the receiving end of a diplomatic quagmire. Most of the issues that beset the Government on the international front are of its own making. The Geneva resolution could have been avoided if there had been an effective diplomatic ...
- Foreign policy and the Government’s credibility (Category: Business)
- Public diplomacy: A missing dimension in our foreign policy (Category: Business)
- Insights on Public Diplomacy (Category: Business)
- The Katchatheevu Sovereignty Commission (Category: Business)
Peradeniya Uni's Dr. Perera says exchange volatility is temporary and acceptable IMF's Mathai says no crisis but stability measures taken By Cheranka Mendis UNP MP Dr. Harsha de Silva yesterday made a compelling case that the ‘feel good’ party that the President Mahinda
- Harsha says CB has moral responsibility to be more transparent (Category: Business)
- Sri Lanka may need to consider easing monetary policy: PB (Category: Business)
- Harsha claims Govt., CB lack credibility (Category: Business)
Sri Lanka’s economic sectors, agriculture, industries and services are performing well and we are today able to provide a robust new investment destination as a frontier country to the rest of the world. In that background, many investors realise that Sri Lanka is well poised to offer a safe and sound investment opportunity to its ...
- Sri Lanka a robust investment destination – President tells Korean business leaders (Category: Breaking News)
- Partner Sri Lanka’s prosperous march, President tells Korean biz community (Category: Business)
- Royal Bank of Scotland Head of Rating Advisory meets Basil (Category: Business)
- Sri Lanka a robust investment destination - President tells Korean business leaders (Category: Breaking News)
Having begun to feel the pinch of the West, companies must adopt a tough and lean approach to survive By Cheranka Mendis With big markets such as Europe and Japan and those closer to home like India going through tough economic times, Sri Lanka cannot be insulated for too long before feeling the pinch of ...
- “Banks challenged to explore low fixed cost models”: MTI CEO (Category: Business)
- Storms brewing in teacups (Category: Business)
- Time for Sri Lankan businesses to tighten their belts says MTI CEO (Category: Business)
- Buying clothes online? New technology may help (Category: Business)
The Sambhashana discussion organised by Transparency International Sri Lanka will focus on ‘The Rupee Crisis’ on 25 April at the auditorium of the Organisation of Professional Associations (OPA), Stanley Wijesundara Mawatha, off Bauddhaloka Mawatha Colombo 7 from 4 to 6 p.m. MP Dr
The UNCTAD, in the present context, should focus on addressing the increasing and diverse challenges faced by the developing world. “My delegation welcomes the theme of this conference, with its focus on addressing development led-globalisation towards sustainable and inclusive development paths. While globalisation was an important and positive phenomenon, it should not be encouraged ...
- Development-led globalisation (Category: Business)
- The ‘Doha Mandate’ (Category: Business)
- Sri Lanka’s trade success in EU markets is not accidental, says Rishad (Category: Business)
- Economic development must respect environment: Mahinda tells Rio+20 (Category: Business)
Sri Lanka Navy’s Offshore Patrol Vessel, SLNS Sagara has sailed for the Maldives to take part in the exercise “DOSTI – XI” held in the seas off Male until 27th April 2012. The 5-day exercise is conducted jointly by Indian, Sri Lankan and Maldivian Coast Guards with the aim of strengthening bonds of friendship and ...
- Lanka takes part in joint naval exercise (Category: Breaking News)
- India, Maldives and Sri Lanka conclude ‘Dosti-16’ (Category: Breaking News)
- SL to take part in joint sea exercise (Category: Breaking News)
- India, Sri Lanka, Maldives conduct joint exercise in Maldives (Category: Breaking News)
said aligned advocacy, mobile technology, business building events, and crisis management ...
- Malaysia to host PATA 2012 Annual Conference in April (Category: Business)
- Innovative tourism students in spotlight at PATA Social Entrepreneur Challenge (Category: Business)
- PATA appoints Ivy Chee as Regional Director for Asia (Category: Business)
- PATA Awards Leading Travel Professionals (Category: Business)
Clarifies 2011 per capita GDP computation technically correct but given fall in Rupee’s value in 2012 Central Bank should have been honest with greater disclosure and putting data in context As per IMF staff report Net International Reserves in 2011 alarming low at $ 4 b; Net Open Position below $ 3 b; Short Term ...
- CB data: Cabraal shoots down Harsha’s claim (Category: Business)
- CB statistics under fire (Category: Business)
- Borrowed surplus looming, warns Harsha (Category: Business)
- The GDP Per Capita in the Central Bank Annual Report for 2011 (Category: Business)
This is a summary of HSBC’s Global Economics Quarterly for Q2 2012 The foundations are weak With the US stock market up around 30% from its lows last autumn, with eurozone periphery bond yields tumbling through much of the first quarter and with the green shoots of an economic spring emerging here and there, it ...
- Asian shares fall on unclear US policy stimulus, Europe (Category: Business)
- Fed ramps up economic stimulus, ready to do more (Category: Business)
- Asian shares rise on hopes of more monetary stimulus (Category: Business)
- Markets up broadly on hopes for Spanish banks, stimulus (Category: Business)
The visiting Indian delegation led by Leader of the Opposition MP (Lok Sabha) Shrimathi Sushma Swaraj met Minister of Economic Development Basil Rajapaksa yesterday. The delegation consists of 12 Members of Parliament representing many parties in Lok Sabha and Raja Saba in the Indian Parliament. Head of the delegation Swaraj stated that they respect the ...
- Sri Sri Ravi Shankar to visit Sri Lanka (Category: Breaking News)
- New Indian Consul Office opened in Jaffna (Category: Breaking News)
- We have no fear of been observed (Category: Breaking News)
- Govt. will not change policy decision despite pressure –Yapa (Category: Business)
Reuters: Sri Lanka will face a challenge in meeting this year’s budget deficit target as the recent monetary and fiscal tightening measures may hurt revenue growth, the island nation’s central bank chief told Reuters on Monday. The $59 billion economy has agreed with the International Monetary Fund (IMF) to target a budget deficit of 6.2 ...
- Financing of 2011 Budget goes haywire (Category: Business)
- CB says 2012 trade gap to narrow by 10% (Category: Business)
- Sri Lanka to cut growth to 7-7.5% (Category: Business)
- Treasury Chief urges help for balance of payments (Category: Business)
The Merchant Bank of Sri Lanka (MBSL) has created history by opening 16 branches and service centres in a day in different parts of the country as part of its 30th anniversary celebrations. MBSL said the move highlighted the presence of the bank serving the nation across the country and driving home its strength and ...
- MBSL Savings Bank invests in community of Galle with relocated Extension Office (Category: Business)
- MBSL Savings Bank expands footprint to Kurunagala (Category: Business)
- MBSL Savings Bank relocates Kottawa branch (Category: Business)
- MBSL Savings Bank reaffirms commitment in Kalutara (Category: Business)
with a crisis as severe as it ...
- Hotel Performance (Category: Business)
- Leisure Activity (Category: Business)
- Aitken Spence Hotels tops Sustainability Reporting Awards again (Category: Business)
- Heritance Ahungalla walks the talk on sustainability (Category: Travel)
Economic Flash - 2 By The Pathfinder Foundation Sri Lanka now a middle-income country has to operate within a new paradigm, particularly in raising finances for the country’s development program. In this context the Pathfinder Foundation wishes to draw the attention of policy makers and the leadership to study the feasibility of raising low cost, ...
Sri Lanka will continue Iran crude, but will have to reduce Sri Lanka indirectly penalised by US sanction – Basil Reuters: Sri Lanka could trim Iran crude imports up to 20 per cent in the face of US sanctions, the island nation’s economic development minister said on Tuesday as it had taken strong measures to ...
- Crude Options (Category: Business)
- Oil Supply (Category: Business)
- Govt. expects 10 % drop in Iran crude demand (Category: Business)
- Sri Lanka suffering huge loss after replacing Iranian oil with Arabian crude (Category: Business)
Economic Development Minister Basil Rajapaksa yesterday said that Mahinda Rajapaksa Government has achieved highest economic growth in Sri Lanka’s post independence history and has brought stability to the economy within a short period of time of after the defeating of terrorism. This statement Minister Rajapaksa made at the Economic Planning Review meeting held at the ...
- Economy sees record growth (Category: Breaking News)
- We are winning economic war - Basil (Category: Breaking News)
- Minister Basil Rajapaksa is ready for economic victory after the win over terrorism (Category: Breaking News)
- Minister suggests exporting Sri Lanka`s surplus rice and vegetables (Category: Breaking News)
Central Bank Governor Ajith Nivard Cabraal yesterday literally brandished the 2011 Annual Report to silence critics and doomsayers, saying that there was no growing economic crisis in the country and was emphatic that Sri Lanka will do well despite challenges. Referring to editorials, one-sided
- Lanka records 8% economic growth in 2010 - Cabraal (Category: Breaking News)
- 2012 growth forecast to be lowered below 8%: CB (Category: Business)
- Drought may cut growth to 6.7% (Category: Business)
- Robust Roadmap! (Category: Business)
Broking firm Arrenga Capital Ltd., has come up with an analysis on the outlook for Sri Lankan economy capturing some of recent developments and their implications. Here are excerpts Economic Summary: Delayed decision to curb excessive credit growth Sri Lanka’s excessive credit growth experienced in the 2H2011 coupled unsustainable rupee peg was leading the country ...
- Value investors enter as speculators exit (Category: Business)
- CB fixes problem its way (Category: Business)
- Rupee Makes Pyrrhic Gains On Negative Trade Data (Category: Breaking News)
- ‘Rupee Volatility – In Search of Equilibrium’ (Category: Business)
Professor Buddhadasa Hewavitharana felicitated The legendary Economics Guru of Peradeniya vintage for more than four decades, Emeritus Professor of Economics Buddhadasa Hewavitharana, was felicitated last week by the country’s top policy think-tank, Institute of Policy Studies or IPS and the Department of Economics and Statistics of the University of Peradeniya by releasing simultaneously tw...
- Two books on Sri Lankan economy launched (Category: Business)
- State of SL economy according to IPS: Grow but make it inclusive (Category: Business)
The Daily FT on Thursday featured on page 1 a story based on some startling comments and allegations by UNP MP Dr. Harsha De Silva and young business leader Dilith Jayaweera. The headlines and the contents wouldn’t have been a good read for President Mahinda Rajapaksa, who is also the Minister of Finance and Planning, ...
- Rocky Road (Category: Business)
- Not Under (Category: Business)
- Six new Bank branches in the North next week (Category: Breaking News)
- Commercial Bank arrives at Maskeliya (Category: Business)
The challenges Sri Lanka has to face in its march towards development are manifold. Although the war has ended the wrong political ideologies, the proposals and timetables it created are still in operation. By Government Information Department Additional Director General Chandrapala Liyanage Similarly, various social activity groups and individuals and organisations operating under the advice ...
- President’s leadership led to great achievements in ICT: Weeratunga (Category: Business)
- Building resilience in Asia Pacific’s digital society (Category: Business)
- Namal on dynasties and democracies (Category: Business)
- EDB turns 33 (Category: Business)
UNP MP Dr. Harsha de Silva yesterday charged that the Government and the Central Bank seriously lacked credibility, whilst the people were being taken for a ride with falsehood. He alleged that a few months ago the Government, especially the Central Bank, was hoodwinking the masses saying the economy was robust and fiscal and monetary ...
- UNP warns of higher taxes (Category: Business)
- EPF 2010 Annual Report makes it to P’ment (Category: Business)
- More losses by gambling public money alleges Harsha (Category: Business)
COLOMBO (Reuters): Sri Lanka’s central bank will have room to raise interest rates by at least another 50 basis points if April trade and inflation data show signs of stabilizing, the treasury secretary said on Wednesday. “Since we have already raised policy rates by half a percent (in February), maybe another 50 basis points upward ...
- Drought may cut growth to 6.7% (Category: Business)
- Sri Lanka may need to consider easing monetary policy: PB (Category: Business)
- CB may take act on high credit growth (Category: Business)
- Treasury Chief urges help for balance of payments (Category: Business)
Parliamentary accountability The Parliament, as the country’s foremost representative institution, has the sole authority over national resources and financial allocations and concurrently has a prominent role to play in fiscal responsibility, the budgetary process, economic development and effective transparent economic and financial management, with a view to assuring sustainable growth an...
- Chandra J sends his proposals for 2013 Budget to the President (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
- Time for reflection, reality check, risk mitigation and lessons learnt action (Category: Business)
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