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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.
Political parties supporting Greece’s international bailout begin forging a government on Monday after an election victory over radical leftists staved off the prospect of the debt-laden country leaving the euro and brought relief to global markets. Conservative New Democracy leader Antonis Samaras called for broad support after winning Sunday’s election over the Syriza party, wh...
- Greeks seek better terms after Spanish rescue (Category: Business)
- World economies prepare for panic after Greek polls (Category: Business)
- Asia shares fall to 2012 lows as Europe worries weigh (Category: Business)
- Greek Cabinet formally approves bailout deal (Category: Business)
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 Lankan shares rose on Friday as investors snapped up blue-chip companies, helping the main index recover. The Colombo Stock Exchange’s main index closed 1.4 per cent or 68.19 points firmer to end at 4,991.21, its highest since 25 May. “The market has fallen too much and now it is trying to correct itself,” ...
- Inflation rises to six month high of 5.5% (Category: Business)
- Audi July unit sales up 16%, driven by China (Category: Business)
- Fitch affirms Hatton National Bank at ‘AA-’ (Category: Business)
- Positive results for Asia Pacific hotels in Sept (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)
- 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)
- Rupee depreciation: A powerful tool to drive growth and employment? (Category: Business)
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)
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)
Reuters: The Central Bank said on Thursday it still believed the battered rupee would stabilise at levels stronger than 125 to the dollar, despite comments from a senior bank official. Chief Economist Swarna Gunaratna told Reuters on Wednesday that the Central Bank expected the currency to stabilise at current levels, which are now around 132. ...
- Rupee value: CB denies report, Reuters stands by its story (Category: Business)
- Rupee’s value: Out goes 125; welcome 132 (Category: Business)
- Rupee slips on importer dollar demand; shares down (Category: Business)
- Stocks at 23-month low; Rupee stronger (Category: Business)
Reuters: Central Bank expects the rupee to stabilise at current levels of around 132 to the dollar without intervention, a senior official said on Wednesday, abandoning its earlier stance where it had expected the currency to settle at a higher level. The rupee was trading around 132 per dollar on Wednesday. Both the Central Bank ...
- CB intervenes again to defend rupee (Category: Business)
- CB expects currency volatility to ease (Category: Business)
- Rupee on a yo-yo! (Category: Business)
- Rupee hits new low, but State intervenes (Category: Business)
Showing a common mindset, the International Monetary Fund (IMF) yesterday commended the Central Bank for its commitment to flexible policies that resulted in a depreciating rupee and reducing the current account deficit. IMF Country Representative Dr. Koshy Mathai delivering a presentation titled
Calls for more transparency and says lack of progress main reason for reduced interest Inconsistent policies and lack of transparency is preventing foreign companies from investing in Sri Lanka, US Ambassador Patricia Butenis told a conference yesterday, calling for the Government to reduce red tape and improve good governance. US Ambassador Patricia Butenis addresses ...
- USAID: Celebrating our shared values (Category: Breaking News)
- US Ambassador commends resilience of Sri Lankans in the face of terrorism (Category: Breaking News)
- US continues to support development in the North (Category: Breaking News)
- US to appoint new ambassador to Sri Lanka (Category: Breaking News)
What is corporate governance? According to the World Bank Corporate governance is “the system by which companies are directed and controlled”. It involves the balance of powers among three key corporate constituencies: the board of directors, which is charged with monitoring, overseeing, and guiding the company; the shareholders, who invest their funds in the company’s ...
- A Company Director’s Role (Category: Business)
- Meeting the corporate governance challenge (Category: Business)
- Critique on Board directors’ role and liabilities (Category: Business)
- STING recognises Aitken Spence Sustainability Strategy (Category: Business)
Reuters: Sri Lanka’s central bank expects the steps it has taken to reverse a currency decline to drive the rupee past 125 to the US dollar, but it is not targeting a particular level, Central Bank Governor Ajith Nivard Cabraal said on Tuesday. The rupee is hovering around 129-130 despite a warning from the authorities ...
- Central Bank sees rupee firming helped by inflows (Category: Business)
- Can and will sustain rupee defence: CB Chief (Category: Business)
- CB says no need for FX intervention (Category: Business)
- Sri Lanka affirms flexible FX policy, but will intervene if needed (Category: Business)
Reuters: A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect to hundreds of billions of euros in losses, landing Germany and its partners with a crippling bill. A Greek departure would take Europe into uncharted legal waters. The size of the burden other ...
- Euro zone crisis heads for September crunch (Category: Business)
- European stocks rise ahead of ECB meeting (Category: Business)
- S&P, Greek standoff pressure euro zone to boost defences (Category: Business)
- EU leaders to agree on permanent bailout fund (Category: Business)
TOKYO (Reuters): Global shares, precious metals and oil fell and the euro remained pressured on Wednesday as Greece struggled to form a government after an election that saw incumbent parties punished, heightening the risk that a hard-won bailout deal could be scrapped. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 1.4 per cent to ...
- No risk of asset prices bubble in Bourse – CB (Category: Business)
- SEC considers 10% minimum float rule (Category: Business)
- Bourse at 3-week low, Rupee falls (Category: Business)
- Asian shares extend gains on stimulus hopes, euro capped (Category: Business)
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 ...
- Developing Asia’s growth to moderate amid global uncertainty, says ADB (Category: Business)
- Sri Lanka’s GDP growth set to outpace peer economies: Asia Wealth (Category: Business)
- Eurozone crisis dampening developing Asia’s growth prospects, warns ADB (Category: Business)
Sri Lanka hopes to continue its relationship with the International Monetary Fund (IMF) to boost foreign investment even after a US$ 2.6 billion Stand-By agreement ends in July, the Central Bank Governor said yesterday. Despite tenuous interaction in the past, Central Bank Governor Ajith Nivard
- Positive Progress in Securing Second IMF Tranche, Says Acting Finance Minister Shehan Semasinghe (Category: Breaking News)
- This is our last chance to forge ahead – President (Category: Breaking News)
- Lankan delegation to leave this week to attend IMF spring meeting (Category: Breaking News)
- I have fulfilled my obligation- Anticipate the IMF to fulfil its responsibility by the end of ... (Category: Breaking News)
MANILA (Reuters): China, Japan and South Korea agreed on Thursday to boost cross-investment in government bond markets, worth nearly a combined $15 trillion, in a move that will better prepare the countries to protect their financial markets from external shocks. The three economic powers sought a formal agreement, a rare one on securities investment, to ...
- Emerging East Asia’s bond markets expand, still in demand – ADB (Category: Business)
- Asian shares at 3-month high after China inflation (Category: Business)
- South Korea’s gloomy economic data spooks markets (Category: Business)
- The quiet revolution sweeping Asia’s sovereign bond markets (Category: Business)
Reuters: Fresh from a big victory in raising $430 billion for the International Monetary Fund, Christine Lagarde’s tougher test as head of the global lender will be finding a way to give emerging economies more influence. To do this, the former French finance minister will need to convince
- Global economy’s ‘timid’ recovery faces high risks: Lagarde (Category: Business)
- IMF Chief Lagarde emphasises Asia, China role in global recovery (Category: Business)
- Lagarde eyes $400 b rise in IMF funds this week; Japan pledges $ 60 b (Category: Business)
- BRICS demand bigger IMF role before giving it cash (Category: Business)
Reuters: The global financial crisis is not over and technical innovation and investment will be key to sustaining what remains a “tortuous” recovery, Chinese Premier Wen Jiabao said on Sunday during a visit to Germany. Wen also said China, the world’s biggest exporter and second largest economy, would press on with reforms aimed at creating ...
- China’s Wen: May consider bigger role in EU rescue funds (Category: Business)
- China on track to meet 2012 growth target: Wen (Category: Business)
- Slowing China aids global economic rebalancing (Category: Business)
- Putin says little role for BRICS in euro crisis (Category: Business)
Reuters: The Central Bank said on Friday that despite heavy depreciation pressure on the rupee, there was no need to intervene in the market as the country would see $ 574 million of inflows within a month. On Friday, the currency was trading near its record low of 131.60 per dollar, hit on 19 March ...
- Rupee strengthens on inflows into bonds (Category: Business)
- Rupee will recover substantially – Cabraal (Category: Business)
- Rupee hits new low despite inflows (Category: Business)
- Rupee on a yo-yo! (Category: Business)
Monetary Fund (IMF) to target a budget deficit of 6.2 ...
- Financing of 2011 Budget goes haywire (Category: Business)
- CB says 2012 trade gap to narrow by 10% (Category: Business)
- Sri Lanka to cut growth to 7-7.5% (Category: Business)
- Treasury Chief urges help for balance of payments (Category: Business)
Sri Lanka will continue Iran crude, but will have to reduce Sri Lanka indirectly penalised by US sanction – Basil Reuters: Sri Lanka could trim Iran crude imports up to 20 per cent in the face of US sanctions, the island nation’s economic development minister said on Tuesday as it had taken strong measures to ...
- Crude Options (Category: Business)
- Oil Supply (Category: Business)
- Govt. expects 10 % drop in Iran crude demand (Category: Business)
- Sri Lanka suffering huge loss after replacing Iranian oil with Arabian crude (Category: Business)
TOKYO: Japan and China will seek to co-ordinate on supporting the International Monetary Fund’s (IMF) effort to contain Europe’s sovereign debt crisis, Japanese Finance Minister Jun Azumi said. “Rather than make decisions independently, we’ve agreed to consult
- Sri Lanka’s debt restructuring likely to be complete by September – IMF (Category: Breaking News)
- Stay on course and don’t go back to the past – Dr Indrajit Coomaraswamy (Category: Breaking News)
- IMF to consider $ 800m loan for Sri Lanka (Category: Breaking News)
- Sri Lanka continued strong economic recovery says IMF (Category: Breaking News)
ISLAMABAD (Reuters): Pakistan’s foreign exchange reserves rose to $16.51 billion in the week ended 30 March, from $16.44 billion in the previous week, the Central Bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) rose to $ 11.84 billion from $ 11.77 billion a week earlier, while those held by commercial ...
- Emergency Package (Category: Business)
- Sri Lanka forex reserves at record high-cenbank (Category: Breaking News)
- Forex reserves jump $5.9 bn to $595 bn (Category: Breaking News)
- IMF sees “challenging” outlook for Pakistan (Category: Business)
COLOMBO (Reuters): Sri Lanka’s central bank will have room to raise interest rates by at least another 50 basis points if April trade and inflation data show signs of stabilizing, the treasury secretary said on Wednesday. “Since we have already raised policy rates by half a percent (in February), maybe another 50 basis points upward ...
- Drought may cut growth to 6.7% (Category: Business)
- Sri Lanka may need to consider easing monetary policy: PB (Category: Business)
- CB may take act on high credit growth (Category: Business)
- Treasury Chief urges help for balance of payments (Category: Business)
The rupee gained 1.7 per cent on Tuesday as exporters sold dollars after the International Monetary Fund approved thedisbursement of a long-delayed loan tranche of $ 426.8 million to the Government. The rupee strengthened to 126.00/126.30 a dollar from Monday’s close of 128.25/128.30. Dealers
- Rupee gains thanks to inflows to bullish Bourse (Category: Business)
- Rupee up on Govt. bond dollar inflows; Stock market fails to cheer (Category: Business)
- Remittances, exporter conversions boost Sri Lanka rupee (Category: Business)
- Bourse at 3-week low, Rupee falls (Category: Business)
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