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The Lanka Micro Finance Practitioners Association (LMFPA), as the apex body of MFIs, in its bid to address and create awareness about development and current status of the industry including best practices commenced a series of Enabling Dialogues, where CEOs, general managers, directors of companies engaged in micro-financing (including licensed commercial banks and non-ban...
According to figures collected by PATA, international visitor arrivals into Asia Pacific destinations during May 2012 show a collective gain of 3% year-on-year. This is the second consecutive month with a declining growth rate. For the first five months of 2012, the average growth in international visitor arrivals into Asia Pacific destinations was 6% up ...
The much-longed-for monsoon rains are lashing at the capital Colombo and other parts of the south west as Sri Lanka gears up for yet another provincial election and international challenges pertaining to its post-war accountability and reconciliation plans in the days and weeks ahead. The much-longed-for monsoon rains are lashing at the capital Colombo and ...
Reuters: Asia’s services sector expanded in August despite a global economic downturn, business surveys showed on Wednesday, but optimism remained muted as regional economies toil to overcome the deepening impact of the festering euro zone crisis. The HSBC services sector Purchasing Managers
Reuters: China’s top state newspaper warned the visiting US Secretary of State Hillary Clinton on Wednesday not to seek advantage from tensions in the South China Sea, ahead of talks likely to focus territorial disputes and other sources of discord. Beijing and Washington have both stressed hopes for steady ties, especially as they confront domestic ...
Reuters: Asian shares eased on Tuesday on concerns over weakening regional and global economic activity, but expectations of more stimulus from central banks and hopes for progress in tackling Europe’s debt crisis lent support. European equities were seen flat to lower, with financial
Reuters: Moody’s Investors Service has changed its outlook on the Aaa rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU’s four biggest budget backers: Germany, France, UK and Netherlands. The move will add to pressure on the European Central Bank to ...
All Sri Lankan universities except for the medical faculties have been closed down, but for most citizens, who have observed crisis after crisis in the education sector, this latest development is nothing new. The big difference is currently it is the university teachers who are on strike
SRI LANKA’S rubber industry is wary over the possibility of increased prices as the world’s top producers gather to stabilise global prices this week, raising age old questions over productivity, replanting, value addition, technology infusion and a host of other issues. The Three-Nation Rubber Products International Conference in Bandung, Indonesia, this week will see ...
In an exclusive interaction with the Gamechanger Team on the sidelines of the SLPL match between Basnahira Cricket Dundee and Uva Next, the Secretary of Sri Lanka Cricket Nishantha Ranatunga opened up with his thoughts on the Mahindra Sri Lanka Premier League, its future in the Sri Lankan cricket system and what it would do ...
Transparency International Sri Lanka (TISL) yesterday called upon the government to take necessary actions to resolve the present situation at the Securities and Exchange Commission (SEC) in a manner that will not negatively impact on market confidence.
NAIROBI (Reuters): Kenya’s horticulture export earnings are expected to grow by 10%this year thanks to above-normal rainfall, but the eurozone’s financial woes were expected to dampen demand for flowers, a senior industry official said on Monday. Horticulture is one of the east African country’s leading sources of foreign exchange alongside tea exports and tourism. The ...
Last week I met up with some key business people from Indonesia, which does heavy trading with China on the basis of subcontracted business, and is now attempting to diversify its business due to the volatility of the Chinese economy. This made me conduct some research on the Chinese economy. The findings highlighted the need ...
Reuters: China’s vast manufacturing sector has been badly hit by slowing new orders, two complementary surveys showed, a sign that the pace of growth in the world’s second-largest economy will weaken well into the third quarter. The final reading of the HSBC China manufacturing purchasing managers’ index (PMI) for August fell to a seasonally adjusted ...
By Cheranka Mendis Attempts by the three major rubber producing countries – Thailand, Indonesia and Malaysia – to stabilise the market price of rubber by restricting exports and raising prices will propel local the rubber industry to follow suit with similar rises. Colombo Rubber Traders Association Chairman M.S. Rahim told the Daily FT that if ...
By Cassandra Mascarenhas Crisis management has become a hot topic in today’s corporate world for as economies grow, the challenges faced by businesses increase exponentially which has led to organisations having to negate the effects of crises faced at every corner. Understanding
By Marianne David and Cheranka Mendis The safari savagery that erupted last week with mobile tented safari operators being attacked seems to have reached a ceasefire of sorts, following two meetings between stakeholders on Wednesday. Employees attached to Mahoora Safari Camps, Kulu Safaris and Leopard Safaris were assaulted by mobs affiliated to the Tissamaharama Jeep ...
Placed amidst of wave of opportunity, today Sri Lanka is poised for exponential growth and sustainable economic development. In this context of emerging national prosperity, exports irrefutably play a pivotal role in driving the much anticipated economic progress. Exports are the main foreign exchange earners for the country and present many prospects for growth and ...
We are seeing action taken by trade union university academics and staff. All students, parents, teachers and public, have united to deal with the progressive decline in decades of mismanagement and politicised decision making in what is the countries most important sector. Providing a strong basic easily available education is one of the important pillars ...
Reuters: Citigroup Inc agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic mortgage assets, one of the largest settlements stemming from the global financial crisis. The agreement resolves claims that shareholders
Reuters: The U.S. economy fared slightly better than initially thought in the second quarter, but the pace of growth remained too slow to shut the door on further monetary easing from the Federal Reserve. Gross domestic product expanded at a 1.7% annual rate, the Commerce Department said on Wednesday, as stronger export growth offset a ...
President Mahinda Rajapaksa left for Tehran yesterday to attend the 16th Summit of Heads of State or Governments of the Non-Aligned Movement (NAM). The President is scheduled to address the Non-Aligned Movement Summit on 30 August and hold several bilateral meetings with leaders of various countries on the sideline of the summit during the course ...
WASHINGTON, (Reuters): Singapore’s economy is set to weaken this year on the back of weaker global demand and related international financial and trade strains emanating from the euro zone debt crisis, the International Monetary Fund said on Monday. “Under the benign global baseline
Policymakers and governments should not see environmental taxation as a cure-all, says the Association of Chartered Certified Accountants (ACCA) in a policy paper called ‘Green Taxation in a Recession’. Due to the ongoing global recession and economic uncertainty, governments are looking to environmental taxation as a possible way to bolster tax revenues. ACCA says that ...
24th August 2012 Dr. P. B. Jayasundera, Secretary to the Treasury, Ministry of Finance & Planning The Secretariat, Colombo 1. Dear Dr. Jayasundera, Establishment of a Financial Services Authority and a Banking and Finance Commission I suggest for your consideration that you duly evaluate the long-term national economic benefits of enhancing effective fiscal management capability ...
Reuters: The euro edged down and European stocks opened lower on Tuesday as the weak economic outlook and uncertainty over the European Central Bank’s plans to contain the region’s debt crisis combined to put investors in a cautious mood. Markets were also waiting for the outcome
The Sri Lanka Institute of Marketing (SLIM) together with the Bucks University featured the 2012 award winners from Singapore of global business associations and chief marketing officers under the theme ‘Is The Party Over?’ at Galadari Hotel, where a select audience of 200 business and marketers attended the event. Some of the key points discussed ...
Corporate boards must take long-term steps to manage risk, restore investor confidence CFA Institute report offers ‘checklist’ for visionary boards The string of recent news concerning global companies such as Barclays, JPMorgan Chase, Olympus, Sino-Forest, and Duke Energy, underscores the immediate need to change the corporate culture perpetuated by some corporate boards. One wa...
AFP (FRANKFURT): Dutch food and cosmetics giant Unilever expects poverty to rise in Europe as a result of the eurozone crisis and is therefore rethinking its marketing, according to a newspaper report Monday. “Poverty is returning to Europe,” the Head of Unilever’s European
HURLING Sri Lanka’s education system into further chaos, the teacher trade union has called for the Grade 5 Scholarship exam to be held again under allegations that the exam papers have leaked out. As the crisis in the education system continues to deepen to reach the tots of Grade 5, there is a need to ...