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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 ...
Indo-Lanka relations Indo-Lanka relations have been cordial ever since the two countries gained independence. The most notable act of magnanimity on the part of India was to cede the Island of Katchchathivu to Sri Lanka through an agreement between the two countries. Relations have intermittently been strained due to domestic ethnic issue having had a ...
Industry experts urge disillusioned local investors to ‘buy when it’s down and sell when it’s up’ In a highly volatile atmosphere and with low investor confidence in the Colombo Bourse, experts earlier this week went against the negative sentiments and instead stated that now is the time to buy. These views were aired at a ...
The keynote address delivered by Dr. Kalpana Kochar, the World Bank’s Chief Economist for South Asia, at the recently-concluded CCC Economic Summit, highlighted three fundamental flaws in Sri Lanka’s growth model. It will not be possible to achieve sustained growth of 8% without addressing these effectively. The Pathfinder Foundation, and others, has emphasised the need ...
The Sri Lanka Economic Association or SLEA, the long-standing professional body of economists of Sri Lanka, has published some selected papers presented at its Annual Sessions in October 2011 in a volume titled ‘Achieving Economic Goals in the Midst of Global Challenges,’ the theme of the sessions. The volume, edited by two veteran economists – ...
Case study Middle East Sri Lanka is one of the most sought-after tourist destinations in the world. It is surrounded by the Indian Ocean strategically located between West Asia and South East Asia and has been an important stop on the silk route or the Silk Road. It has all requirements to be one ...
The main Opposition UNP yesterday charged that people are suffering due to the inequitable economic policies of the Government. The UNP said that the Central Bank has stated in its latest monetary policy review that “The policy measures adopted by the Central Bank and the Government during the period February to April 2012 to curtail ...
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 an important equalising role. Viz – it attracts the participation of a large number of ...
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 ...
By Dr. Laksiri Fernando Asian Tribune: I am here not talking about Karen Connelly’s popular love story by the name of ‘Burmese Lessons,’ but rather Aung San Suu Kyi’s entry into Parliament as the Leader of the Opposition in Myanmar (or Burma) with 42 other members who were elected early April in a by-election from ...
| by Dr Laksiri Fernando ( May 03, 2012, Sydney, Sri Lanka Guardian) I am here not talking about Karen Connelly’s popular love story by the name of ‘Burmese Lessons,’ but rather Aung San Suu Kyi’s entry into Parliament yesterday as the leader of the opposition in Myanmar (or Burma) with 42 other members who were elected early April in a by-election from the National League for Democracy (NLD). Th...
Good morning ladies and gentlemen, I am privileged to have been given this opportunity to be with you this morning. My task before you is to brief potential investors of my personal experience of doing business in Sri Lanka and about the prevailing circumstances there. Therefore, I am not going to focus on the economy ...
Positioning Sri Lanka in the Global Economy The Sri Lanka Economic Summit 2012, the flagship event of the Ceylon Chamber of Commerce (CCC), will be held from 10 to 12 July 2012 at the Cinnamon Grand, Colombo under the theme ‘Positioning Sri Lanka in the Global Economy’. This forum
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...
Says Central Bank ‘miserably politicised’; wants change at the top; warns of public, worker agitation UNP MP and its chief spokesman on the economy Dr. Harsha de Silva yesterday said the Government has to blame itself and take responsibility for the current economic crisis in the country. In a statement, Dr. de Silva said: “The ...
Nivard Cabraal and subsequently showcased by politicians the sad reality of the economy of Sri Lanka ha...
What does independence mean to Sri Lanka? After 64 years, one would think that the value of freedom would have waned, but that is not the case. Yet the direction of this independence and what it means to people is undergoing a change and therein lies the challenge for the decades ahead. It is true ...
Foreign Direct Investment (FDI) generally refers to long-term participation by one country in another country. It usually involves participation in a JV, capital transfer, transfer of technology and expertise. There are two types of FDI: inward foreign direct investment and outward foreign direct investment, resulting in a net FDI inflow (positive or negative) and stock ...
Multilateral donor emphasises devaluation should help exports, reserves Opines 2012 Budget consistent with earlier plans Withholds eighth tranche of $ 2.6 b loan; mission in Jan The International Monetary Fund said on Wednesday that Sri Lanka’s devaluation of its currency was a “step in the right direction” that should favour export competitiveness and preserve foreign ...
Amidst tumbling value in the Colombo bourse, the Government’s Revival Bill suffered a fresh blow when rating agency Moody’s yesterday warned of investor uncertainty and negative impact whilst a fresh Fundamental Rights case was filed against new legislation. Triple adverse developments or reactions were despite the Government remaining hell bent in its continued justification of ...
With the dawn of peace after the cessation of the three-decade conflict in the country, the economy of Sri Lanka witnessed a considerable expansion in all three sectors. Year 2010 recorded a significant enhancement in the Gross Domestic Product (GDP) by 8% and the first half of 2011 recorded
Union Bank of Colombo PLC (UBC) together with ShoreCap II Limited of USA, an International foreign investment Fund, has acquired over 98% of the voting shares of The Finance and Guarantee Company Ltd. (TF&G), infusing Rs. 1.1 billion in new capital to resurrect one of Sri Lanka’s oldest finance companies. Previously Union Bank acquired National ...
The policy changes, reforms and modernisation since Budget 2011 appears to have been the context of a presentation made to the Joint Apparel Association Forum in July 2011 by the “leading light” in finance, planning, treasury management and economic development. Sri Lanka background 2000-’10 The presentation articulates the background issues experienced from 2000 to 2010. ...
Last week I received an invite for an ‘Inventors Day Celebration’ in one of the leading schools in the country and the master in charge shared a thought that I felt was a cutting edge idea. Apparently, every one of us is an inventor in some part of our daily life. The issue is that ...
Public service is poised to get a shot in the arm making it greatly people-friendly soon due to a project initiated by the ICT Agency of Sri Lanka (ICTA) recently. As one of the latest phases of the e-Services initiative ‘the Lanka Gate e-Services Project’ of ICTA, aims at better public service by developing ...
The Central Bank yesterday announced further relaxation of foreign exchange rules with immediate effect. It said that with a view to facilitating the foreign exchange transactions of the growing economy of Sri Lanka, a few new policy measures had been introduced to further relax the foreign
Central Bank announced today further relaxation of foreign exchange rules with immediate effect. It said with a view to facilitating the foreign exchange transactions of the growing economy of Sri Lanka, a few new policy measures have been introduced by the Central Bank to relax the foreign
By Ashwin Hemmathagama National Insurance Trust Fund (NITF) was created by an Act of Parliament in the year 2006. A subsequent amendment, No 28 of 2007 has empowered NITF to accept compulsory reinsurance cession from local insurance companies. NITF has fixed the compulsory cession at 20% of the general insurance programmes of all insurance companies ...
By Dr.Laksiri Fernando (Text of DA Rajapaksa Memorial Address) National development is not merely about the economy but the economy is central. It entails economic, social, political, cultural and even moral aspects. The contribution of the North and the East during the last three decades or so was hampered in all these spheres by the separatist and the terrorist war. It is nece...
According to reports, CSE’s Chief Executive Surekha Sellahewa has said that liquidity in the market would be increased by broadening the investor base, increasing listed companies, improving market structure and introducing more asset classes to trade. The Chief Executive was unavailable for comment upon being contacted by the Sunday Leader. However, experts believe that such ...
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