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Reuters: Sri Lanka may need to consider easing monetary policy if trade data for May and June point to significant weakness in global demand for the island’s goods, the Treasury Secretary told Reuters on Thursday. A further export slowdown would put additional pressure on the economy as domestic demand has already shown signs of cooling ...
- Rupee hits record low ahead of rates decision (Category: Business)
- Inflation seen at 42-month high in July (Category: Business)
- Rupee slips on importer dollar demand; stocks flat (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
Reuters: Sri Lankan stocks jumped 1.6 per cent on Thursday to a more than three-week high on institutional buying of blue-chips stocks like John Keells Holdings PLC in an oversold market after the central bank kept policy rates steady. The Central Bank held the key policy rates unchanged on Wednesday. The main index rose 1.61 ...
- Inflation drops further in July (Category: Breaking News)
- Central Bank seen holding rates, SRR steady (Category: Business)
- Sri Lanka Q3 GDP seen expanded 8.0%; full year 8.1% (Category: Business)
- Sri Lankas trade deficit widens in May (Category: Breaking News)
Peter Kropotkin is a Russian revolutionist who has commented in his book ‘The Conquest of Bread’ what he considers to be the weaknesses of the economic systems of capitalism and how poverty and scarcity thrives on. However, Kropotkin did not believe in the theory of state and is known as an anarchist. The issue of ...
- Sri Lanka state finances would improve with domestic domestic restructure: think tank (Category: Breaking News)
- Limits of statist development or state capitalism (Category: Business)
- Sri Lanka net government debt soars in 2021 despite zero foreign deficit finance (Category: Breaking News)
- Rupee depreciation: A powerful tool to drive growth and employment? (Category: Business)
Q1 GDP shrinks 6.5 pct year-on-year Contraction deeper than -6.2 pct flash estimate Q2 seen weak Reuters: Greece’s economy shrank further in the first three months of 2012, shrivelling at a yearly rate of 6.5 percent against a backdrop of painful wage cuts, tax hikes and record unemployment. The data, released on Friday, will add ...
- Stocks dip on retail selling (Category: Business)
- November annual inflation eases to 4.7% (Category: Business)
- Stock market at 2 week high on retail buying (Category: Business)
- Nissan-Leyland JV to tap India’s growing commercial vehicle market (Category: Business)
Reuters: Euro zone leaders need a master plan and “collective determination” to rescue the common currency, but not necessarily a deadline, International Monetary Fund Managing Director Christine Lagarde said on Tuesday. US billionaire George Soros said on Saturday that the euro zone
- New Euro 2012 ball faster than Jabulani, Adidas CEO says (Category: Business)
- Euro area crisis risks EU sovereign ratings – Moody’s (Category: Business)
- S&P piles pressure on Franco-German budget plan (Category: Business)
- Change EU treaty to stabilise bloc, says Trichet (Category: Business)
Addressing a youth employment forum, the head of the United Nations labour agency early this week warned of a “growing disconnect between people and policy, people and government.” “Many people are saying ‘you are not taking my situation into account’ – this is particularly true in the case of youth and young people, whose feeling ...
- Euro contagion to worsen youth joblessness globally warns ILO (Category: Business)
- No end in sight to global jobs crisis: ILO (Category: Business)
- No recovery in sight for labour markets, warns ILO (Category: Business)
- Open markets alone will not create good-quality jobs (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)
Reuters: The World Bank cut its economic growth forecast for China this year to 8.2 per cent on Wednesday and urged the country to rely on easier fiscal policy that boosts consumption rather than state investment to lift activity. In a biannual East Asia and Pacific economic update, the World Bank said a slowing China ...
- Global economic outlook slowly improving but remains fragile (Category: Business)
- Momentum to drain from world economy in 2012: Poll (Category: Business)
- World Bank projects global slowdown, with developing countries impacted (Category: Business)
- World economy fragile, faces “uneasy calm” – IMF (Category: Business)
Reuters: Beyond movie star looks and sunglasses, the woman who takes over as France’s first lady next Tuesday is fast making her mark as a feisty character who some media outlets are already dubbing the Iron Lady. Valerie Trierweiler, a Paris Match reporter, limited herself for the past year to accompanying Francois Hollande on campaign ...
- Voting begins in France, economy may doom Sarkozy (Category: Business)
- Socialist Hollande ousts Sarkozy as French leader (Category: Business)
- Sarkozy details measures for growth, jobs (Category: Business)
- French business leaders lambast Hollande (Category: Business)
TOKYO (Reuters): Global shares, precious metals and oil fell and the euro remained pressured on Wednesday as Greece struggled to form a government after an election that saw incumbent parties punished, heightening the risk that a hard-won bailout deal could be scrapped. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 1.4 per cent to ...
- No risk of asset prices bubble in Bourse – CB (Category: Business)
- SEC considers 10% minimum float rule (Category: Business)
- Bourse at 3-week low, Rupee falls (Category: Business)
- Asian shares extend gains on stimulus hopes, euro capped (Category: Business)
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 the possibilities of a sharp fall in exports to advanced economies and ...
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Sri Lanka’s GDP growth set to outpace peer economies: Asia Wealth (Category: Business)
- Eurozone crisis dampening developing Asia’s growth prospects, warns ADB (Category: Business)
Reuters: The euro zone’s business slump deepened at a far faster pace than expected in April, suggesting the economy will stay in recession at least until the second half of the year. Chinese factories enjoyed their best performance this year, the latest purchasing managers indexes (PMIs) also showed on Monday, but economists focused on the ...
- Danish economy recovering slowly – CB (Category: Business)
- Euro zone confidence falls in Sept., inflation expectations rise (Category: Business)
- OECD sees euro crisis threatening world recovery (Category: Business)
- Airlines say carbon law cutting EU off from growth (Category: Business)
Reuters: Fresh from a big victory in raising $430 billion for the International Monetary Fund, Christine Lagarde’s tougher test as head of the global lender will be finding a way to give emerging economies more influence. To do this, the former French finance minister will need to convince
- Global economy’s ‘timid’ recovery faces high risks: Lagarde (Category: Business)
- IMF Chief Lagarde emphasises Asia, China role in global recovery (Category: Business)
- Lagarde eyes $400 b rise in IMF funds this week; Japan pledges $ 60 b (Category: Business)
- BRICS demand bigger IMF role before giving it cash (Category: Business)
Reuters: The global financial crisis is not over and technical innovation and investment will be key to sustaining what remains a “tortuous” recovery, Chinese Premier Wen Jiabao said on Sunday during a visit to Germany. Wen also said China, the world’s biggest exporter and second largest economy, would press on with reforms aimed at creating ...
- China’s Wen: May consider bigger role in EU rescue funds (Category: Business)
- China on track to meet 2012 growth target: Wen (Category: Business)
- Slowing China aids global economic rebalancing (Category: Business)
- Putin says little role for BRICS in euro crisis (Category: Business)
Reuters: The Group of 20 nations on Friday pledged $430 billion in new funding to the International Monetary Fund, more than doubling its lending power in a bid to protect the global economy from the euro-zone debt crisis. The promised funds from advanced and emerging economies will provide
- Euro zone crisis set to dominate G20 meeting in Paris (Category: Business)
- IMF seeks more funds; G20 to discuss (Category: Business)
- G20 pushes for extra steps from Europe on crisis (Category: Business)
- IMF says banks skirt rules, financial system unwell (Category: Business)
LONDON (Reuters): Oil rose to $119 a barrel on Friday, trimming its decline this week, as an improvement in German business sentiment countered nervousness about the euro zone debt crisis, while worries about supply from sanctions-bound Iran also lent support. German business sentiment rose for the sixth month in a row in April, a survey ...
- Brent remains above $ 120 on Iran worries, Greece optimism (Category: Business)
- Oil sinks below $ 100 to 16-month low on economy, demand worries (Category: Business)
- Brent steady above $116; set for steepest weekly fall since Dec (Category: Business)
- Brent oil set to end yr up 14%, record high average (Category: Business)
Reuters: The International Monetary Fund’s bid to win a big boost in funding to handle the euro-zone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash. Brazilian Finance Minister Guido Mantega
- Global economy’s ‘timid’ recovery faces high risks: Lagarde (Category: Business)
- IMF Chief Lagarde emphasises Asia, China role in global recovery (Category: Business)
- Lagarde eyes $400 b rise in IMF funds this week; Japan pledges $ 60 b (Category: Business)
- Sri Lanka to offer winter tourism refuge from Powell-Lagarde bubble (Category: Breaking News)
Reuters: Asian shares and the euro traded in tight ranges on Thursday ahead of a Spanish bond sale seen as a key test of investors’ risk appetite amid renewed concerns over the euro zone’s debt crisis. European shares were also expecting a mixed start, with financial spreadbetters predicting that major European markets would open between ...
- Global shares, commodities retreat on Greek uncertainty (Category: Business)
- Asian shares at 3-month high after China inflation (Category: Business)
- Dollar dips on Fed comments, shares firmer (Category: Business)
- Asian markets rebound, hoping for action on euro zone crisis (Category: Business)
Reuter: The International Monetary Fund said on Wednesday it had raised $320 billion so far in a bid to boost its firepower to deal with the euro zone debt crisis, with Poland and Switzerland joining the effort. IMF Managing Director Christine Lagarde said she had received commitments of $34
- ‘Japan, china to ‘consult closely’ on support for IMF’ (Category: Business)
- G20 to Europe: show us the money (Category: Business)
- G20 pushes for extra steps from Europe on crisis (Category: Business)
- IMF seeks more funds; G20 to discuss (Category: Business)
REUTERS: Global growth is slowly improving as the US recovery gains traction and dangers from Europe recede, but risks remain high and the situation is very fragile, the International Monetary Fund said on Tuesday. Another flare-up of the eurozone sovereign debt crisis or sharp escalation in oil
- IMF sees risks to global growth, calls for collective action (Category: Business)
- Global economic outlook slowly improving but remains fragile (Category: Business)
- IMF marks down global growth forecast, sees risk on rise (Category: Business)
- IMF MD calls for anchoring stability to sustain higher and better growth (Category: Business)
Reuters: The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington’s grip on the job and leaving developing countries frustrated with the selection process. Kim, a physician and anthropologist who makes for a somewhat unorthodox choice to head the global anti-poverty lender, won the job over ...
- No region immune to Europe crisis: World Bank Chief (Category: Business)
- World Bank to choose new chief; US pick likely (Category: Business)
- Inclusive, green, knowledge-based growth keys to Asia’s future: ADB Chief (Category: Business)
- World Bank says rising food prices a concern, ready to help (Category: Business)
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)
WASHINGTON: The World Bank’s directors meet on Monday to decide who will be the powerful institution’s next chief, with all expectations that the US will maintain its unbroken lock on the position. While the US nominee has faced a challenge for the first time in 66 years, from two solid developing country candidates, there was ...
- SANASA Development Bank wins prestigious Bronze award (Category: Business)
- World Bank Chief backs BRICS bank idea (Category: Business)
- COMBank declared Sri Lanka’s ‘Bank of the Year’ by The Banker (Category: Business)
- ComBank records highest growth in ‘Inter-Bank Electronic’ payments (Category: Business)
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)
TOKYO: Japan and China will seek to co-ordinate on supporting the International Monetary Fund’s (IMF) effort to contain Europe’s sovereign debt crisis, Japanese Finance Minister Jun Azumi said. “Rather than make decisions independently, we’ve agreed to consult
- Sri Lanka’s debt restructuring likely to be complete by September – IMF (Category: Breaking News)
- Stay on course and don’t go back to the past – Dr Indrajit Coomaraswamy (Category: Breaking News)
- IMF to consider $ 800m loan for Sri Lanka (Category: Breaking News)
- Sri Lanka continued strong economic recovery says IMF (Category: Breaking News)
DUBAI (Reuters): The United Arab Emirates’ central bank expanded its large exposure limit rules for commercial banks, introducing new caps for loans made to local governments and their entities in the first such change in nearly two decades. The oil-reliant UAE economy is recovering from the 2009-2010 debt crisis in Dubai, marked by a $25 ...
- Pakistan Central Bank to develop rules for Islamic scholars (Category: Business)
- No risk of asset prices bubble in Bourse – CB (Category: Business)
- 2012 budget deficit goal challenging says CB Chief (Category: Business)
- Central Bank seen holding rates, SRR steady (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)
The rupee gained 1.7 per cent on Tuesday as exporters sold dollars after the International Monetary Fund approved thedisbursement of a long-delayed loan tranche of $ 426.8 million to the Government. The rupee strengthened to 126.00/126.30 a dollar from Monday’s close of 128.25/128.30. Dealers
- Rupee gains thanks to inflows to bullish Bourse (Category: Business)
- Rupee up on Govt. bond dollar inflows; Stock market fails to cheer (Category: Business)
- Remittances, exporter conversions boost Sri Lanka rupee (Category: Business)
- Bourse at 3-week low, Rupee falls (Category: Business)
Sri Lanka is to get a $ 400 million lifeline following what is anticipated as a favourable decision on the part of the International Monetary Fund (IMF). The IMF Board was scheduled to meet Monday evening Washington Time, and its Resident Representative Koshy Mathai is scheduled to hold a briefing
- US$ 400 m India-SL energy transaction in the pipeline (Category: Business)
- IMF mission due June 4, SL to receive $400 mln balance (Category: Breaking News)
- IPO To Raise Rs. 400 mn (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
Reuters: Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to make the first concerted challenge to the U.S. grip on the top job at the World Bank, according to sources. The two globally respected economists and diplomats will be nominated for the World Bank presidency by South Africa ...
- World Bank picks health expert Jim Yong Kim as president (Category: Business)
- SL Seeks US$ 500Mn From WB For 2011 (Category: Breaking News)
- World Bank to choose new chief; US pick likely (Category: Business)
- World Bank plans to double development funds (Category: Breaking News)
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