The Embassy of the People's Republic of China in Sri Lanka recognized the Pathfinder Foundation as one of its top 10 partners at a ceremony to mark Chinese New Year and Sri Lanka's National Day held at the BMICH on Friday 17th January. President Mahinda Rajapaksa, Prime Minister D.M Jayaratne, Minister of Health Maithreepala Sirisena, Minister of External Affairs G.L Peiris and Secretary to the President Lalith Weeratunga were among those present at this ceremony. Here Chinese Ambassador Wu Jianghao presents the top 10 partners award to Mr. Milinda Moragoda, Founder of the Pathfinder Foundation.
Category: Economic Flash Published on Tuesday, 11 March 2014 10:20
The US Federal Reserve Bank (Fed) announced a tapering of its bond buying program (QE3) following a meeting of its Federal Open Markets Committee (FOMC) last week. Its purchase of US bonds ($40 billion) and mortgage-backed securities ($35 billion) has been reduced by $10 billion from $85 billion to $75 billion a month. The announcement, while anticipated in the near future by markets, came earlier than expected. Only 37% of economists polled by Bloomberg expected the Fed to announce the commencement of its tapering program at its December 2013 FOMC meeting.
Last Updated on Tuesday, 11 March 2014 10:20
Category: Economic Flash Published on Monday, 23 December 2013 10:44
Doha Round Impasse
Two years ago, it was officially announced that the Doha Round had reached an impasse after 10 years of negotiations. Pascal Lamy, who was then Director-General of the WTO, admitted this publicly.
Last Updated on Monday, 23 December 2013 11:53
Category: CHINA WATCH Published on Tuesday, 11 March 2014 10:52
The Communist Party of China, which at one time sent tremors throughout the capitalist world particularly the Western countries, has just introduced another dramatic package of home-grown market-oriented reforms. In fact, the outcomes of the Third Plenary of the Central Committee of the Communist Party offer important insights for Sri Lanka. The Pathfinder Foundation (PF) is focusing on these reforms to convey the message that they offer considerable scope for being customized to reflect the specific conditions of the Sri Lankan economy. In considering these reforms, it is important to take into account the political and social characteristics of Sri Lanka. The level of ambition of the reforms that have just been announced by the Chinese authorities has surprised almost all commentators. Some skeptics claim that the actual implementation of the reforms will fall short of what is promised due to resistance from vested interests and/or a lack of political will. This is unlikely, particularly as President Xi Jinping has personally taken charge of the mechanisms that have been established to oversee these economic reforms. He will lead the group on “Comprehensive Deepening of Reforms” which has been tasked with implementing the planned changes. It is very unlikely that President Xi will compromise or back down now that he has staked his personal authority behind these reforms.
Last Updated on Tuesday, 11 March 2014 10:52