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What has been widely described as the “historic” Supreme Court judgment which by a majority 4-1 decision of a five-judge bench held the Rajapaksa brothers, Mahinda, Gotabaya and Basil and other unelected officials including two past Governors of the Central Bank, a former Secretary to the President, a former Treasury Secretary and some members of […]
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
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 […]
Tuesday 2nd May, 2023 Another May Day has come and gone. The organisers of the International Workers’ Day celebrations, in this country, rarely mention the Haymarket Riot in Chicago (1886), and benefits that accrued therefrom to workers the world over, much less commemorate the brave workers who have laid down their lives in the US […]
The Government is to consider restructuring Sri Lanka’s domestic debt, but a final decision is yet to be taken, President Ranil Wickremesinghe told Parliament today. He said that all aspects will be looked into when restructuring Sri Lanka’s domestic debt. “Some banks are saying they will not be able to face this. Then they must […]
Wednesday 5th April, 2023 There have been substantial reductions in fuel prices, and they will go a long way towards tackling inflation. The economy is said to be showing some signs of recovery, but more trouble is apparently brewing for the hapless Sri Lankans, who are struggling to keep the wolf
[…]The post Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? appeared first on Colombo Telegraph.
Minister Kanchana Wijesekera has publicly stated that the Ceylon Petroleum Corporation (CPC) and the Ceylon Electricity Board (CEB) have employees far in excess than required for the normal functioning of these institutions. For instance, Ceylon Petroleum Storage Terminals Ltd., has 4,200 employees where only 500 are required, and the CEB has around 26,000 employees when […]
[…]The post Some Suggestions To Assist In Sri Lanka Striving To Achieve A Primary Balance appeared first on Colombo Telegraph.
But Market’s Illiquid Status Of Such, Drawback In a depressed market, such as that which is facing the Colombo bourse today, the time however is ripe for investors to buy good stocks at bargain prices an economist said. Amal Sanderatne, Director, Frontier Research (Pvt.) Ltd., addressing a seminar on the economy with a focus on ...
Hambantota is claimed to be an ‘emerging hub’ of various sorts – shipping, aviation, tourism, industrialisation, cultural and international sports of various kinds. An unfortunate feature appears to be that in recent years it is emerging to be an epicentre of domestic political crime. A harbinger to this regrettable development was on the eve of ...
By Marianne David MP and consultant economist Dr. Harsha De Silva yesterday alleged that THE UNP’s criticism over the mismanagement of the economy and the Central Bank as well as the EPF’s investments in banking stocks have been emphatically validated by global rating agency Standard and Poor’s.“Standard and Poor’s reiterated what we have been saying ...
By Damien The Secretary to the treasury Dr. P.B Jayasundera recently made statement that the country is wasting the foreign currency on things that can be made in this country. I would like to add to this by stating that as a country we should have clear targets and policies that are aimed at both ...
The country’s forex market encompassing highly dependent importers and key source exporters was yesterday rocked by what analysts described as the sharpest day gain in the US dollar exchange rate. Before mid-day the Rupee touched a new low of Rs. 127 and then on to Rs. 128 prompting many to assume the rate had bottomed ...
Stock market plunges further; Rs. 69 b in value wiped off One year loss of value is a staggering Rs. 766 b EPF and foreign buying saves Bourse after near 5% crash Rupee dips to all-time low of Rs. 120; likely to settle down though triggering panic in import trade Crisis could be an understatement ...
If the Governor of Central Bank has an urge to enter politics, he should come to Parliament without playing politics inside the CB, charges United National Party Parliamentarian and well-known Economist Dr. Harsha de Silva. Dr. de Silva notes that Governor Nivard Cabraal should respect the sanctity of the Central Bank and therefore if Cabraal ...
A political expert contacted for an explanation on how the Bill to establish a private sector Employees’ Pension Scheme could go through parliament so urgently. He insisted no “Urgent Bill” could be brought up for debate in parliament without first being presented in the Supreme Courts. This insistence took our mind back to an anecdote ...
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