Beijing [China], August 19 (ANI): Raising concerns regarding the financial crisis triggered by the downturn in China’s real estate market, Chinese investment firm Zhongrong Trust , which managed USD 87 billion worth of funds for corporate clients and wealthy individuals as of the end of 2022, had failed to pay the interest and principal on […]

Sri Lanka born international economist Dr. Howard Nicholas of Erasmus University, Netherlands has categorically stated that Sri Lanka must not adopt the IMF recommendations on monetary policy for it has no rational basis and evidence of success anywhere in the world. Coming from a Western based economist that provides a lot of food for thought […]

State Minister of Technology, Kanaka Herath, announced the introduction of the DIGIECON 2030 program, aimed at accelerating Sri Lanka’s economy towards an inclusive digital ecosystem through the utilization of advanced technology-based solutions. The program includes a comprehensive digital master

BEIJING, June 28 (Reuters) – Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8% year-on-year slump in profits came on top of the 20.6% contraction in January-April, and added […]

Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]

When the five days long stretch of holidays ended last week and the Colombo bourse reopened for trading on Tuesday, the market surged 6.71 percent (633.69 points up) on the broad All Share Price Index (ASPI) while the Standard and Poor SL 20 index covering the 20 largest and more liquid companies quoted on the […]

By Amal JAYASINGHE The snaking queues for food and fuel that crisscrossed Sri Lanka last year have given way to a different kind of line — people scrambling for travel documents to flee their bankrupt island. “What we see as normalcy is a mirage,” customer care executive Gayan Jayewardena, 43, told AFP while queueing at […]

CP Chairman DEW G says lawmakers here should be aware of what is going on in the world. The Parliament cannot turn a blind eye to global developments, the former MP said, pointing out that the ongoing Ukrainian crisis underscored the need for greater understanding of international affairs as the rapid developments taking place with […]

It is important that Sri Lanka restructures its debt and relaxes the restrictions imposed on imports by the end of this year, Sri Lankan High Commissioner to India, Milinda Moragoda told News First in an interview on Thursday night. Sri Lanka has suspended its external debt repayments and the import of many goods, which are against […]

It was important for Sri Lanka to restructure its debt and relax import restrictions by the end of this year, Sri Lankan High Commissioner to India, Milinda Moragoda told News First in an interview on Thursday night. Sri Lanka had suspended its external debt repayments and the import of many goods, which are against some […]

By Chani Imbulgoda “We suffer today, because leaders in the past have failed to govern this country properly”. Oh, the predecessor has not done things well, they all have let the place go haywire”. Familiar excuses… When one takes over the leadership be it the country, be it an organisation, or be it a new […]

The Monetary Board of the Central Bank of Sri Lanka decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 250 basis points to 13.00 per cent and 14.00 per cent, respectively, CBSL said in a statement on Thursday. The decision was taken at […]

India has done more for Sri Lanka than the International Monetary Fund (IMF), Union Minister for External Affairs Dr S Jaishankar, has told the Indian Express. The IE story, filed from Ahmedabad, said: The Modi government, he [Jaishankar] underlined, is working on developing an “extended neighbourhood” that involves islands in the Indian Ocean, Gulf countries and […]