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Needs to pay $ 4.9 b to China for total loan of $ 2.96 b China, ADB leading lenders, Western loans low Govt. has borrowed $ 5 b through five euro bonds Reuters: Sri Lanka will have to repay more than $ 15 billion to foreign lenders such as China and the Asian Development Bank ...
- ADB assures more support but not debt cancellation (Category: Breaking News)
- China lends Sri Lanka $290m for development (TamilNet) (Category: Breaking News)
- Prudent financial decisions (Category: Business)
- Debt-ridden Sri Lanka gets US$350m loan boost from ADB (Category: Breaking News)
By Shamil Samsul Mueen 1. Introduction The global financial crisis has raised imperative issues concerning the stability and reliability of existing financial systems. This has driven an extensive global re-examination on the competence of the existing financial architecture and the search for a more enduring solution. As a result an increasing interest in Islamic finance ...
- HNB launches Al-Najah Islamic banking unit (Category: Business)
- Islamic finance: Challenges and opportunities (Category: Business)
- Islamic banking and finance advisory services to assist financial institutions (Category: Business)
The Central Bank yesterday kept policy rates unchanged for the third consecutive month, largely on the confidence that recent measures taken have had desired stabilising effect so far. In its statement following Tuesday’s July Monetary Policy Review, the Central Bank said inflation, as measured by the year-on-year change in the Colombo Consumers’ Price Index, increased ...
- Banks asked to Reduce Interest Rates on Lending (Category: Breaking News)
- Sri Lanka maintains policy interest rates, GDP within targets (Category: Breaking News)
- Sri Lanka to grow at 7.2% (Category: Business)
- CB Raises Interest Rates (Category: Breaking News)
Reuters: Sri Lanka’s current monetary policy rates are appropriate despite a spike in inflation last month due to supply constraints, the Central Bank said on Tuesday, a day ahead of its July monetary policy review announcement. The Central Bank has kept both repurchase and reverse repurchase rate at two-year highs of 7.75 percent and 9.75 ...
- September annual inflation eases to eight-month low (Category: Business)
- Rupee fall drives inflation to 41-month high (Category: Business)
- Central Bank sees rupee firming helped by inflows (Category: Business)
- CB seen keeping rates steady: Reuters Poll (Category: Business)
Reuters: Greece’s new finance minister on Saturday pledged to carry out reforms and privatisations demanded under its latest financial rescue in an attempt to regain credibility with international partners stumping up money to keep the country afloat. In his first policy speech since taking office, respected economist Yannis Stournaras reiterated the government’s plan to ask ...
- Greece claims success after strong bond swap takeup (Category: Business)
- Euro zone seals second Greek bailout worth 130 b euros (Category: Business)
- Euro zone crisis heads for September crunch (Category: Business)
- Moody’s downgrades Cyprus as bank bailouts seen likely (Category: Business)
Reuters: China, Europe and Britain loosened monetary policy in the space of less than an hour on Thursday, signalling a growing level of alarm about the world economy, although suggestions of coordinated action were played down. Of the three, the surprise move was from Beijing which lowered its lending rate by 31 basis points to ...
- US economy mending, oil prices a challenge: Geithner (Category: Business)
- Asia’s economic growth slipping into neutral (Category: Business)
- Happy CB keeps policy rates unchanged (Category: Business)
- Global factories struggle as growth fears rise (Category: Business)
Sri Lanka has succeeded in reaching the economic targets expected by the International Monetary Fund. Central Bank Governor Ajith Nivard Cabral said that the IMF had made this reference during a visit to Sri Lanka before the granting of final tranche. Mr. Cabral said that Sri Lanka has met all June
- Eastern Eye (Category: Business)
- Net Target (Category: Business)
- Budget Framework (Category: Business)
- Legal Forum (Category: Business)
Reuters: Sri Lanka has met all June-end targets set by the International Monetary Fund (IMF) for the last tranche of a $ 2.6 billion loan, Central Bank Governor Ajith Nivard Cabraal said on Friday. “We have met all the targets. Net domestic financing, net internal reserves and reserve money
- On Target (Category: Business)
- Firms press EU over carbon price (Category: Technology)
- Thick red line (Category: Australia, Tasmania )
- SL meets all IMF loan targets (Category: Breaking News)
China demand for coal, iron ore expected to drive market Average capesize earnings to rise to $12,400 in H2 Panamax earnings seen increasing to $11,000 SINGAPORE (Reuters): The Baltic Exchange’s Dry Index, an indicator of global economic activity, will rebound by 35 percent in the second half of 2012 versus the last six months on ...
- Baltic index rallies, capes at near 9-month high (Category: Business)
- China Aug trade surplus dips, exports off peak (Category: Business)
- Australia trade deficit widens on falling exports, worse to come (Category: Business)
- Commodities Boom (Category: Business)
Reuters: Angela Merkel was portrayed across Europe as the big loser of a euro zone showdown in Brussels after the German chancellor was forced to accept the crisis-fighting measures championed by countries struggling with their debts. Newspapers in Spain, Italy and France on Saturday toasted the triumph of their leaders – Mario Monti, Mariano Rajoy ...
- Merkel scrapes win on Greek bailout, rebels grow (Category: Business)
- S&P piles pressure on Franco-German budget plan (Category: Business)
- G20 backs Europe’s plans for overhaul to fight crisis (Category: Business)
- EU leaders to agree on permanent bailout fund (Category: Business)
Sri Lanka has met all June-end targets set by the International Monetary Fund (IMF) for the last tranche of a $2.6 billion loan, Central Bank Governor Ajith Nivard Cabraal said.
Reuters: The Sri Lankan rupee edged higher on Friday a day after it hit a record low, as exporters and a state bank sold dollars to buy the local currency in thin trade, dealers said. The rupee closed at 133.50/70 to the dollar, a tad firmer from Thursday’s close of 133.80/90. It hit a fresh ...
- Rupee continues to strengthen (Category: Breaking News)
- Market Flavour (Category: Business)
- Seeking Direction (Category: Business)
- Rupee Path (Category: Business)
Reuters: Sri Lanka’s inflation rate accelerated to a 41-month high in June driven by the rupee’s sharp depreciation, while food prices were hit by supply constraints due to drought and government policies to discourage selected imports. Annual inflation hit 9.3% in June from a year earlier, its highest since January 2009 and up from 7.0% ...
- Inflation seen at 42-month high in July (Category: Business)
- November annual inflation eases to 4.7% (Category: Business)
- Inflation seen at 2012 high in May: Reuters Poll (Category: Business)
- CB says policy rates appropriate (Category: Business)
By Uditha Jayasinghe As the rupee weakened further, the United National Party (UNP) yesterday discharged a fresh salvo against the Government’s economic management, insisting that the rupee’s decline was being “militaristically controlled” and called for greater transparency. Referring to reports that banks stopped quoting spot prices after what dealers said w...
- Pakistan players wanted to lose to damage Afridi – Court (Category: Business)
- China, India score with untied aid (Category: Business)
- CB to stop supplying dollars for oil bills (Category: Business)
- IMF clarifies numbers (Category: Business)
Reuters: Sri Lanka is looking for an extended fund facility from the International Monetary Fund after the current $2.6 billion loan program ends, the Central Bank of Sri Lanka said on Thursday. An IMF mission last week said Sri Lanka had shown interest in further financial support. “
- Bond Auction (Category: Business)
- ‘SL will implement home-grown solution’ (Category: Breaking News)
- Market Flavour (Category: Business)
- Seeking Direction (Category: Business)
Reuters: Europe won support from world leaders on Tuesday for an ambitious but slow-moving overhaul of the euro zone, even as pressure built in financial markets for quicker solutions to its debt crisis that threatens the world economy. European countries showed at a Group of 20 summit they were considering concrete steps to integrate their ...
- Change EU treaty to stabilise bloc, says Trichet (Category: Business)
- IMF says not enough done to stop spread of euro zone crisis (Category: Business)
- International alarm over euro zone crisis grows (Category: Business)
- S&P piles pressure on Franco-German budget plan (Category: Business)
Top economist and public servant R.A. Jayatissa has recently assumed duties as the Chairman of Sri Lanka Insurance Corporation. Previously the SLIC Chairmanship was held by President’s Chief of Staff Gamini Senerath. Jayatissa, an economist, was the Deputy Secretary to the Treasury and Senior Economic Policy Advisor to the Ministry of Finance and Planning. He ...
- WatchTower (Category: Business)
- Can Read (Category: Business)
- Dissenting Voice (Category: Business)
- Trajectory (Category: Business)
Offers $ 43 b in overall deal which will see Fund’s base doubling to $ 456 b Reuters: China on Monday offered $43 billion to the IMF’s crisis-fighting reserves, rounding off a global push to nearly double the Fund’s war chest to $456 billion to help protect countries from fallout from the euro zone debt ...
- BRICS demand bigger IMF role before giving it cash (Category: Business)
- BRICS nations gird to pressure West over imbalances (Category: Business)
- IMF seeks more funds; G20 to discuss (Category: Business)
- Lagarde’s next battle at IMF: Power shift (Category: Business)
Reuters: Under pressure from financial markets and anxious world leaders, Europe agreed on Monday to move towards a more integrated banking system to stem a debt crisis that threatens the survival of the euro. At a Group of 20 summit of the world’s leading industrialized and developing economies in this Mexican resort, Germany and its ...
- G20 backs Europe’s plans for overhaul to fight crisis (Category: Business)
- Change EU treaty to stabilise bloc, says Trichet (Category: Business)
- G20 to Europe: show us the money (Category: Business)
- Euro zone crisis set to dominate G20 meeting in Paris (Category: Business)
Sri Lanka should be careful about the inflationary effects of liquidity created by large foreign exchange swaps with the Central Bank, an International Monetary Fund official said.
7.2% by Govt. adjusted to 6.75%; puts inflation at 9.5% but lauds policy changes Confirms continued engagement being discussed, says more funds possible Final tranche of $ 2.6 b goes before IMF Board in July By Uditha Jayasinghe The International Monetary Fund (IMF) yesterday
- IMF’s take on Sri Lanka’s good, bad and the ugly (Category: Business)
- Global economic outlook slowly improving but remains fragile (Category: Business)
- The Economy in 2011 at a Glance (Category: Business)
- Inflation eases as food prices moderate (Category: Business)
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)
Sri Lankan government has had discussions with the International Monetary Fund (IMF) for fresh financial assistance, which will be discussed in detail in September, IMF officials said. "There's a possibility of (IMF) extending further financial assistance - similar to the current Stand
- IMF says technical talks will continue as planned until new government is formed (Category: Breaking News)
- Discussions with Sri Lankan authorities constructive and productive – IMF Team (Category: Breaking News)
- IMF plans in-person Sri Lanka mission in coming weeks for policy talks (Category: Breaking News)
- IMF hopes to soon resume Sri Lanka high-level discussions (Category: Breaking News)
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)
- Road To Bankruptcy: The Role Of Foreign Currency Flows & Economic Vulnerabilities In Sri Lanka (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)
Reuters: The rupee recovered 0.5 per cent on Wednesday after hitting a record low the previous day as exporters sold dollars, traders said. The rupee closed at 131.90/132.10 against the dollar from Tuesday’s close of 132.40/70. It hit all time low of 133.60 on Tuesday, surpassing the previous record of 133.00 reached on 25 April. ...
- Sri Lankan Rupee further depreciates against US Dollar (Category: Breaking News)
- Rupee continues to strengthen (Category: Breaking News)
- Market Flavour (Category: Business)
- Seeking Direction (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)
SAO PAULO (Reuters): Brazil’s economy barely expanded in the first quarter a s frustrated business leaders cut back on investments, setting the stage for another disappointing year and casting new doubt on the health of emerging markets. The economy grew just 0.2 percent compared to the final three months of 2011, less than half t ...
- Brazil FinMin: Govt. ready to protect economy (Category: Business)
- Rousseff’s mission for Brazil in 2012: 4 % growth (Category: Business)
- Momentum to drain from world economy in 2012: Poll (Category: Business)
- India’s June qtr GDP growth weakest in six quarters (Category: Business)
The Central Bank has said that the Employees Provident Fund is safe and it is not exposed to any danger. Superintendent of EPF of the Central Bank Kalyani Gunatllake stressed that the propaganda, being spread by certain opposition groups is baseless. Certain political groups in the opposition spread propaganda that the EPF as well as ...
- EPF’s response to S&P’s Statement (Category: Business)
- Building of the Asian model begins on a disastrous note: 3 lakhs lose their jobs in one year!! ... (Category: Breaking News)
- Sri Lanka Central Bank responds to S&P concerns on private sector retirement fund (Category: Breaking News)
- EPF interest rate increased (Category: Breaking News)
A team of officials from the International Monetary Fund (IMF) is to arrive in Sri Lanka next week to review the country’s economic conditions before disbursing the final tranche of the US$ 2.6 billion Stand-By Agreement (SBA), Government officials said. The review is scheduled to commence
- Tete-a-tete (Category: Business)
- IMF team to visit Sri Lanka on review mission before final disbursement of SBA (Category: Breaking News)
- IMF approves the US$ 415 million final tranche of SBA for Sri Lanka (Category: Breaking News)
- IMF approves $ 415m final disbursement (Category: Breaking News)
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