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In a world where most product categories are at the mature stages of the product lifecycle, the key differentiating factor for a brand happens to be the reputation that it has earned in the market place. Be it a fridge that you buy for your home or a packet of milk powder that you get ...
Mr. Thilak Karunarathne Chairman, Securities Exchange Commission,Colombo. Dear Sir, Re: SEC inquiry connected with the stock exchange transaction where the National Savings Bank acquired shares of The Finance Company I wish to hail your expressed commitments to initiate with urgency a comprehensive inquiry connected with the stock exchange transaction where the National Savings Bank acquired ...
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 ...
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 ...
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...
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...
nInternationally-renowned risk consultant David Roden in town Capital Alliance, a full-service investment bank will focus on highlighting to the industry this week on best practices in risk management for emerging markets. Concentrating on the industry’s financial institutions, CAL along with David Roden will spend two days in Sri Lanka, meeting with senior bank executives including ...
By Cheranka Mendis Even if the status of the world economy seems to have found a rather fragile equilibrium with Europe over the past six weeks, the world is no closer to being immune from the risks that have cropped up as a result of the European and USA led recession and changes in world ...
By Cheranka Mendis Despite the risk of negative global conditions worsening the ground situation in Asian countries, rating service Standard & Poor’s believes that by and large the region will continue to grow, with most countries now building resilience to face and absorb shocks. Standard & Poor’s Rating Service South East Asia Managing Director Surinder ...
Arguably, the silver lining in the currency depreciation is that Sri Lanka’s exports will grow, or it seems to be that at first glance. Yet, deepening the gloom, there is increasing concern that import-dependent exports such as apparel will take a hit from the plummeting rupee, resulting in the US$ 12 billion target being left ...
Capital Alliance, a full-service investment bank will be hosting one of Asia’s foremost Investor Relations experts, Jonathan Zax, in Colombo this week. Zax’s investor relations efforts have been frequently recognised by the international financial community through top rankings in polls by Asiamoney, Finance Asia, Lafferty Group and Investor Relations Magazine. Last year, he received a...
Is the consumer the king? Today the consumer is celebrating World Consumer Day, organised by Consumer International, to show power and strength by flexing muscles of worldwide consumer organisations. People say the consumer is powerful and he is the king and kingmaker. Traders say the consumer is always right. It may be so in other ...
is going through troubled times, exacerbated by rising government spending and a global financial crisis...
In its first CEO Forum for the year 2012, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) featured top Australian expert Westpac Banking Corporation Head of Risk-Reward Edmund Bosworth who explored in detail the post global financial crisis scenario facing the world
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will hold a one day workshop on the implementation of an integrated risk management framework on Tuesday, 6 March at the Galadari Hotel. Titled ‘Developing and Installing an Integrated Risk Management Framework’ it will be conducted by a top Australian risk management expert. Edmund ...
By Cassandra Mascarenhas Rewarding the most transparent and accountable business entities in Sri Lanka’s corporate sector, the annual ACCA Sustainability Reporting Awards 2011 crowned John Keells Holdings, Aitken Spence Hotels Holdings and HDFC Bank as winners in the large, medium and small sectors respectively yesterday. Janashakthi Insurance was also felicitated for conforming to reporting...
The theme of World Consumer Day this year, 15 March 2012, is very opportune, interesting and timely. It is our money, our rights – campaigning for real choice in financial services. There is a doubt whether your money is really yours because it is managed by others. Your money is managed by the Central Bank ...
Reuters: Sri Lanka and the International Monetary Fund (IMF) meet this week amid a standoff over the Central Bank’s defence of the rupee currency, which has cost $ 2.6 billion in foreign exchange reserves since July – the same amount the global lender has pledged to loan. Bucking all its Asian peers, Sri Lanka has ...
Regulatory pressure mounted further over the course of 2011 – bad news for financial services firms, but good news for the consultancies to which they turned for help. Ernst and Young topped the Operational Risk and Regulation consultancy rankings again in 2011 (http://www.risk.net/operational-risk-and-regulation/feature/2135016/orr-consultancy-rankings-2011), and the New York-based head of ...
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 ...
By Cassandra Mascarenhas Addressing a topical subject which is of crucial significance to Sri Lanka in the context of the current drive towards achieving GDP growth of over eight percent per annum in the next five years, the Postgraduate Institute of Management hosted a lecture-discussion on ‘International Financial Institutions and Development in Asia’ earlier this ...
The Monetary Board, at its meeting held on 16 December 2011, has promoted four Staff Class Grade IV officers, A. Kamalasiri, R. Dheerasinghe, S.S. Ratnayake and K.D. Ranasinghe to the post of Assistant Governor with effect from 1 January, 2012. These promotions have been made in line with the succession plan of the Bank to ...
Prof. Yunus of Grameen Bank fame in Sri Lanka to promote social business By Uditha Jayasinghe In order to promote inclusive and sustainable development, the flaws of capitalism must be fixed, said Nobel Laureate Prof. M. Yunus, who landed in Sri Lanka last afternoon ahead of a corporate seminar today. Creating and implementing the idea ...
By Cassandra Mascarenhas The Sri Lanka Institute of Directors (SLID), as part of its ‘Power Evening’ series of events, presented an eclectic combination of chairmen from leading organisations in the country last week and at the occasion delved into the subject ‘Performing While Conforming – What the Textbooks Don’t Teach You’ by sharing experiences from ...
A full day seminar organised by the Trade Finance Association of Bankers on “Understanding Trade Risks to meet Global Challenges” was held on 26 November at the Galadari Hotel. The seminar was open to a wide spectrum of participants such as Importers, Exporters, Bankers, Lawyers, Shipping and Insurance Industry professionals etc. It was a full ...
Following are excerpts from the address delivered by Aloy Jayawardene, PHF, JP, President of the Sri Lanka Chamber of Small and Medium Industries at the 48th anniversary celebrations and ‘Industrial Excellence Awards 2011’ held at Waters Edge last week. Chief Guest at the ceremony was Australian High Commissioner Kathy Klugman I feel privileged and sad ...
The Central Bank released its latest educational publication titled ‘Analysis of Basic Economics Principles,’ authored by P. Samarasiri, Assistant Governor supervising the financial system stability cluster of the Central Bank. This book has been compiled based on key topics used to understand and analyse the working of an economy. Therefore, the book covers topics covering ...
Sri Lanka’s Ambassador to Belgium, Luxembourg and the EU Ravinatha Aryasinha has said, latest statistics from the Central Bank of Sri Lanka reveal that Sri Lanka’s exports to the EU grew by 25.5% in the first nine months of 2011 (2635 million $), compared to the corresponding period of 2010 (2100 million $). Meanwhile, with ...
A Sri Lankan Central Banker has authored a book under the title of “Analysis of Basic Economic Principles”. Written by P. Samarasiri, who works as an assistant Governor of the Central Bank, the book which is written in Sinhala helps the reader to understand and analyze the workings of an economy. It covers topics such as operational ...
The Group of 20 heads of state met in France in early November launching an annual group meeting of the heads of State. The G20 is made up of Argentina, Australia, Brazil, Canada, China, the EU, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, UK and the US. ...