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Central bank Governor says country is targeting per capita income of $4,000 by 2015Ajit Nivard Cabraal is a man intimately associated with the economic development of Sri Lanka. Well before he became the Governor of the Central Bank of Sri Lanka, in 2006, Cabraal was the chief economic adviser to President Mahinda Rajapaksa, who was ...
- Inflation to continue (Category: Breaking News)
- CB says policy rates appropriate (Category: Business)
- Rupee to recover in 6 to 8 weeks – Nivard tells in Qatar (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (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)
By Cassandra Mascarenhas Sri Lanka is ripe for investment and should exploit its strategic location to attract more foreign investment, while not losing focus on its traditional markets were the general views expressed at the Expo 2012 Symposium on Trade, Investment and Tourism. Held yesterday, the symposium featured a line-up of representatives of many sectors, ...
- UAE-Sri Lanka trade tops $ 1 b mark in 2011 (Category: Business)
- CSE holds Investor Forum in Malaysia (Category: Business)
- SAARC members keen on Indian investment, expertise (Category: Business)
- South Africa’s Sun City to invest $ 800 m in Sri Lanka tourism (Category: Business)
With the recent relaxing of the rupee exchange rate and subsequent increase in fuel prices, trade unions and the opposition parties are conducting protest campaigns against the Government, demanding a reduction in oil prices and the cost of living. This article investigates the living conditions of citizens in the recent past and present, quality and ...
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- The Economic Impact of Exchange Controls (Category: Business)
- Living with debts (Category: Business)
- Strategies on reducing or getting out of foreign debt (Category: Business)
The exchange rate (ER) last week had the dubious distinction of making a steep dive to hit Rs. 130 by being depreciated by nearly Rs. 5 against the US dollar ($) in a week in interbank trading on the back of import demand, but since then has seemingly been tenuously holding on to those levels ...
- Rupee Strengthens, But Illiquid Status Worsens (Category: Breaking News)
- ER Holds At Rs. 130 (Category: Breaking News)
- Stage Set For FDI Inflows (Category: Breaking News)
- $ Strengthens To Rs. 132.40 (Category: Breaking News)
Today is 19 March 2012. The day and the month of March are significant in the lives of many people – some celebrating birthdays, some wedding anniversaries, while others nurse what is yet left over from the hangover of the three day drawn encounter that we experienced a week ago or the limited over Royal ...
- Measuring sustainable wellbeing (Category: Business)
- Warm welcome for war crimes agenda architect (Category: Breaking News)
- S. Thomas’, Royal, Oxford and Cambridge (Category: Business)
- US stronger 10 years after 9/11 attacks: Obama (Category: Business)
By Cheranka Mendis Despite the Central Bank’s forecast reading 7.2% growth for 2012, RAM Ratings Lanka CEO Adrian Perera is confident that the country can touch the 7.5%-7.6% mark by the end of the year. Perera told the Daily FT that the new projection is a realistic number from the 8% noted at the beginning ...
- RAM Ratings moves into new office (Category: Business)
- CA Sri Lanka Annual Report Awards powered by RAM Ratings (Category: Business)
- LB Finance rating rises to A-/P2, heralding a stable outlook (Category: Business)
- RAM Lanka sponsors ICASL Annual Reports Award Ceremony (Category: Business)
MANILA, PHILIPPINES: Economic growth in the Pacific region is expected to slow to 6.0% in 2012 from 7.0% in 2011, according to the latest Pacific Economic Monitor released yesterday by the Asian Development Bank (ADB). The slowdown is driven by lower growth in large resource-exporting economies that dominate regional growth. The Pacific region continues to ...
- E&Y launches 2012 Asia-Pacific Tax Policy and Controversy Outlook (Category: Business)
- ‘Pessimism’ over Asia-Pacific growth: survey (Category: Business)
- Economic growth of 9.5% targeted by 2013 (Category: Breaking News)
- Economic growth of 9.5% targeted by 2013. (Category: Breaking News)
As the world decides vote on Sri Lanka on the methods used on the eradication of terrorism in the country, my mind goes back to the December 2008 when three of us were organising the staging of the first Industrial Exhibition in Jaffna so that the north gets connected to south on an economic front. ...
- What’s next for Brand Sri Lanka? (Category: Business)
- Building ‘Brand Sri Lanka’: Expo 2012 (Category: Business)
It is pleasant to lead a peaceful life with no encumbrances and without debts. In the modern world, debt has become a part of life like breath. In Sri Lankan society, it has not been the case and the practice before. It has been a burden and a commitment for somebody to live in a ...
- World Consumer Day: ‘Our Money Our Rights’ (Category: Business)
- Does your money really belong to you? (Category: Business)
Scanning through the papers recently after the Central Bank of Sri Lanka published its 2011 external sector performance report, I was reminded of a pithy observation made by William W. Watt: “Do not put your faith in what statistics say until you have carefully considered what they do not say.” Some of the data were ...
- HSBC boosts RMB trade settlement service to 59 markets (Category: Business)
- HSBC tips Sri Lanka’s external trade to grow exponentially (Category: Business)
- HSBC clinches award for best Sri Lanka deal (Category: Business)
- All set for new chapter in exports as Expo 2012 opens today at Bmich (Category: Business)
By Cheranka Mendis Gathered to discuss the implications, opportunities and challenges of the sudden announcement and introduction of the Government’s new policies, the export community was advised by a panel of experts to watch ahead, be prepared and make their own judgments from the information provided. With the country facing no immediate risks of getting ...
- Quotable Quotes! (Category: Business)
- More Price Increases In The Offing Economist Warns (Category: Breaking News)
- Way out to fix the sick external sector: Getting back to IMF’s fold a must now (Category: Business)
Avoiding a crisis The Pathfinder Foundation (PF) commends the Treasury and Central Bank for the policy measures introduced recently. This has prevented an external payments crisis. Without remedial action, the country would not have been able to meet its debt obligations and/or finance essential imports within a short period of time. The increases in the ...
- Rupee depreciation: A powerful tool to drive growth and employment? (Category: Business)
- Taming the ‘monsters’ (Category: Business)
- Do not do too little too slowly to boost growth (Category: Business)
- Accelerating growth: catching the wave or missing the bus (Category: Business)
The Central Bank yesterday explained some of the events that led to the erosion of reserves that led to the depreciation of the rupee and assured that pressure on the exchange rate would ease, apart from projecting a balance of payments surplus this year. Noting that the current developments in forex market were ‘temporary,’ the ...
- Forex Trade (Category: Business)
- Economic Freedoms (Category: Business)
- Peg Balance (Category: Business)
- Sri Lankan forex market led down by speculation – Ex-Central Banker (Category: Breaking News)
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)
Developing countries should prepare for further downside risks, as Euro Area debt problems and weakening growth in several big emerging economies are dimming global growth prospects, the World Bank said yesterday in the newly-released Global Economic Prospects (GEP) 2012. The bank has lowered its growth forecast for 2012 to 5.4 per cent for developing countries ...
- WB urges developing countries to strengthen domestic fundamentals (Category: Business)
- World Bank forecasts South Asia to grow by 6.4% in 2012 (Category: Business)
- Global economic outlook slowly improving but remains fragile (Category: Business)
- Asian economies: Managing spillovers and advancing economic rebalancing (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
- 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)
The Standard Chartered Bank (SCB) has opined the Central Bank’s forecast of $ 25 billion foreign inflow as “optimistic” given external headwinds whilst cautioning that pressure was mounting on the rupee given the rising import demand. This view along with weaker GDP forecast is contained in SCB's latest country update titled 'A challenging year ahead' ...
- Economic growth to rebound in 2013: SCB (Category: Business)
- Value investors enter as speculators exit (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Standard Chartered revises Sri Lanka credit outlook to stable from positive (Category: Business)
UNP MP Harsha de Silva yesterday alleged Central Bank Governor Nivard Cabraal’s 2012 and beyond road map was “nauseatingly one-sided propaganda” whilst it failed to address the balance of payments issue. Here is the full statement of Dr. de Silva. Without taking away from the hard work of the private sector for having driven this ...
- Lankan team for U19 World Cup (Category: Business)
- Lankan high commissioner criticizes Canada over inquiry calls (Category: Breaking News)
- JVP holds public rally to create awareness among its membership (Category: Business)
CAIRO (Reuters): Egypt expects tourism revenues to rebound by more than a third next year if the country’s security situation improves in the wake of the uprising that toppled Hosni Mubarak in February and the subsequent political turmoil that sent tourists packing. Tourism used to account for more than a tenth of Egypt’s gross domestic ...
- Egypt showcases culture at World Tourism Day (Category: Business)
- Egypt ups security after Israel embassy violence (Category: Business)
- Visa promotes tourism in Egypt (Category: Business)
“…by clever and persevering use of propaganda, even heaven can be represented as hell to the people, and conversely the most wretched life as paradise”. Hitler (Mein Kampf) By Tisaranee Gunasekara Impunity is illimitable. If the law was allowed to take its normal course after the Kolonnawa mini-war, the Christmas Eve murder of a ...
- Strong parliament vital to accelerate development (Category: Breaking News)
- Tourist activities not affecting fishing industry Basil (Category: Breaking News)
- Foreigner killing - three arrested, wanted politician still at large (Category: Breaking News)
- New Year parties in hotels in Sri Lankas Southern city of Tangalle cancelled (Category: Breaking News)
From war and destruction to peace and reconstruction Both before and following the end of Sri Lanka’s 30-year separatist war in May 2009, it was recognised that rapid economic recovery in the Northern Province would be the key to lasting reintegration and reconciliation within a united country. Nearing the two-and-a-half-year point since the cessation of ...
- ADB’s new Sri Lanka partnership to target inclusive growth (Category: Business)
- Fair winds for Sri Lanka maritime hub (Category: Business)
- Competing for FDI: An agenda for Sri Lanka (Category: Business)
It is the season for giving, which we all know is a reason to look beyond ourselves and find some worthy cause to take up for Christmas. Everyone is familiar with the warmth connected with giving and the quiet pleasure in ensuring that someone else has a happy time as well. It can be something ...
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, Iowa)
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, Nebraska)
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, Maryland)
- Facebook group raises more than $1,500 to tip entire restaurant staff (Category: USA, New Hampshire)
After bringing down the nearly-25-year-old civil war, Sri Lanka is now working towards improving its investment climate. The economy is now in a high-accelerating mode, on the back of the political will and stability in the new era. India will play a big role in this development and will be a key
- Jaishankar’s Sri Lanka visit a harbinger of positive developments for island nation (Category: Breaking News)
- Fortune 100’s ‘hired gun’ set to awaken the Sri Lankan marketing community (Category: Business)
- Video: Your Voice (Category: Video)
Reuters: Sri Lanka’s Central Bank can continue to maintain the rupee exchange by selling dollars from the foreign reserves as it expects large dollar inflows in the coming months, the Central Bank Governor said on Tuesday. The rupee was devalued three per cent on 22 November, a day after President Mahinda Rajapaksa in his capacity ...
- CB says no need for FX intervention (Category: Business)
- Devaluation divide (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
- CB says all June-end IMF loan targets met (Category: Business)
Around 100 attend New World Securities event; Ambassador Karannagoda and Lankan firms highlight post-war rebound and potential Nisthar Cassim reporting from Tokyo December 8: Around 100 Japanese firms and investors today got a thorough update on post-war Sri Lanka’s rebound and unprecedented opportunities at an Investment Forum organised in Tokyo by New World Securities. Held ...
- New World Securities attracts Rs. 2 b Japanese investment into Govt. bonds (Category: Business)
- New World Securities breaks new ground to woo Japanese investors (Category: Business)
- “Sri Lanka has great potential to attract Japanese investors” – Japanese Ambassador (Category: Business)
- Celebrating Sri Lankan culture in Tokyo (Category: Business)
CIMB and the Colombo Stock Exchange jointly concluded a Sri Lanka Corporate Day in Kuala Lumpur, Malaysia on 30 November 2011, themed ‘Invest Sri Lanka: Opportunities in a New Era’. This conference aim was to provide a snapshot of what lies ahead for the Sri Lankan economy and why Sri
- Sri Lanka-Iran bilateral relations enhanced (Category: Breaking News)
- Sri Lanka to issue long-term residence visa for foreign investors (Category: Breaking News)
- Sri Lanka announces new fuel limits for vehicles (Category: Breaking News)
- Business Today TOP TWENTY (Category: Breaking News)
The following report is based on the speech Economic Development Minister Basil Rajapaksa made, concluding the debate on the second reading of the Budget for the year 2012. This is the seventh budget presented by the Government of President Mahinda Rajapaksa I regret there was no constructive criticism at all during the debate on the ...
- President presents a development oriented budget (Category: Breaking News)
- Equity and well-being in Sri Lanka (Category: Business)
- Treasury Secy. showcases recent economic success and future outlook (Category: Business)
- Reality of living the dream: Sri Lanka beyond 2011 (Category: Business)
Having being involved actively in the last seven years of Sri Lanka’s economic development agenda, the last two years in particular have been dramatic in nature. Private sector thinking has now come into the public sector which is interesting but needs to be careful managed so that we do not lose the democratic spirit of ...
- Lankan consumer unplugged (Category: Business)
- Building ‘Brand Sri Lanka’: Expo 2012 (Category: Business)
- Marketing 3.0 and Sri Lanka (Category: Business)
- Gearing up for tougher times (Category: Business)
MADRID, (Reuters):Spain’s economy stopped growing in the third quarter, calling into question the government’s ability to achieve its deficit reduction target for 2011 and pushing the euro zone’s fourth largest economy to the brink of recession. Austerity measures implemented
- Spain economy stagnates, deficit at risk-cbank (Category: Business)
- Spain in recession as austerity bites (Category: Business)
- Spanish Growth (Category: Business)
- Euro zone barely grows in Q3, recession looms (Category: Business)
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