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The Committee on Public Finance (COPF), which met today, has approved the Resolution on Domestic Debt Optimization by a majority. Extensive discussions on the Domestic Debt Optimization were held for the second consecutive day today at the Committee on Public Finance Chaired by (Dr.) Harsha de Silva. Discussions were also held yesterday (29), with Dr. […]
- Domestic Debt Optimization passed with support of some opposition MPs (Category: Breaking News)
- Parliament decides to have full-day debate on DDO (Category: Breaking News)
- Some creditors want to restructure Sri Lanka’s debt without China (Category: Breaking News)
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
The Central Bank (CBSL) says the country s trade deficit in May 2023 widened, compared to a year ago, for the first time since February 2022 while the cumulative trade deficit remained modest so far during 2023.
Crisis-hit Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) over $3bn (£2.4bn) of funding. The deal, which still needs to be approved by the global lender’s board, comes after an eight-month delay. The South Asian nation is facing its worst economic crisis since independence from Britain in 1947. To help secure […]
- Pakistan’s ex-president, Pervez Musharraf dies aged 79 (Category: Breaking News)
- JP Morgan to take over First Republic bank (Category: Breaking News)
- Nearly 40 pupils killed by militants in Uganda school attack (Category: Breaking News)
- Protesters among prisoners pardoned by Iran leader (Category: Breaking News)
By Easwaran Rutnam Sri Lanka has backed the allegation raised by India that Canada is driven by vote bank politics. India’s External Affairs Minister S. Jaishankar had said that Canada seems to be driven by vote bank politics on dealing with the Khalistani issue. There has recently been a surge in Khalistan-related activity in Canada […]
- Sri Lanka’s Foreign Minister continues attack on Canada (Category: Breaking News)
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
- Ranil to visit India next month for talks with Modi (Category: Breaking News)
- Adani to complete Sri Lanka energy project by December 2024 (Category: Breaking News)
Major cities in France experienced a third night of rioting as President Emmanuel Macron fought to contain growing public anger triggered by the police killing of a 17-year-old teenager of Algerian and Moroccan descent during a traffic stop. National police said on Thursday night that its forces faced new incidents in the cities of Marseille, Lyon, Pau, […]
- Three killed in accident involving three-wheeler and lorry (Category: Breaking News)
- Macron invites Ranil to attend Paris summit (Category: Breaking News)
- MP Gajendrakumar Ponnambalam arrested (Category: Breaking News)
- NPP stage protest demanding LG polls (Category: Breaking News)
Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank Governor Dr. Nandalal Weerasinghe said yesterday. The EPF […]
- CB Governor outlines importance of DDR to protect banks and save overall economy (Category: Breaking News)
- Governance issues, etc., will have to be sorted out to avert further debt restructuring: Verité ... (Category: Breaking News)
- Involuntary & Inequitable DDO (Category: Breaking News)
- Central Bank informs EPF members: “decided to opt for” DDO (Category: Breaking News)
CB Governor gives firm assurance that the safety of 57 million bank deposits will be upheld • EPF funds would not be touched
- The President underscores the criticality of financial discipline in nation-building (Category: Breaking News)
- President directs President’s Fund Secretary to clear applications backlog by December 31st (Category: Breaking News)
- I have fulfilled my obligation- Anticipate the IMF to fulfil its responsibility by the end of ... (Category: Breaking News)
- The Resolution to constitute the "National Council" will be presented in Parliament for approv... (Category: Breaking News)
The World Bank yesterday (28) approved USD 700 million in budgetary and welfare support for Sri Lanka.This is the biggest funding infusion into the country since the International Monetary Fund (IMF) bailout package approved in March. Through this funding, the World Bank said it aims to help Sri Lanka implement foundational reforms that restore macroeconomic stability and sustainability, mitigate ...
- Sri Lanka receives $250 Mn as budgetary support from World Bank (Category: Breaking News)
- SL hopes for productive talks at IMF WB spring meetings (Category: Breaking News)
- World Bank to provide $500 mn budgetary support to Sri Lanka (Category: Breaking News)
- Minister Semasinghe paints glowing picture emanating from WB budgetary support (Category: Breaking News)
The muted, panicked voice came through the phone of a friend who croaked she was very confidentially warning Cassandra and advising her. Yours truly was immediately panic infected. With deep emphasis and concern the friend took her time to advise that Cass withdraws all money from banks. Cass was for once glad she was poor […]
- Authorities warn of fake Cass County Jail checks (Category: USA, North Dakota)
- Authorities warn of fake Cass County Jail checks (Category: USA, North Dakota)
- Authorities warn of fake Cass County Jail checks (Category: USA, North Dakota)
- Authorities warn of fake Cass County Jail checks (Category: USA, North Dakota)
Friday 30th June, 2023 The government’s domestic debt restructuring plan is being revealed in dribs and drabs, and the public will have to wait until the weekend, when it is scheduled to be presented to Parliament, to see what it is really like. The Opposition has predicted doom, and the government has sought to make […]
- Rs. 3bn budgetary allocation for foreign debt restructuring, settle int l sovereign bonds (Category: Breaking News)
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- DDO strategy to be made public within two days  Finance Ministry (Category: Breaking News)
The Central Bank warned that a collapse of the country’s banking sector would have catastrophic consequences. Central Bank Governor Nandalal Weerasinghe said that it was vital to protect the banking sector. “The CB Governor said it was vital to protect the banking sector as a collapse of the country’s banking sector would have catastrophic consequences,” the […]
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
- Uproar in Parliament over massive CB salary hike (Category: Breaking News)
- Government to unveil domestic debt restructuring strategy this week (Category: Breaking News)
- Sri Lanka’s sovereign lenders yet to outline debt talks plans (Category: Breaking News)
Sri Lanka's banking system would not be burdened any further as it already contributes to the Treasury and economy through taxes of over 50%, the Central Bank Governor Dr. Nandalal Weerasinghe said.The post Sri Lanka’s Central Bank Governor explains debt restructuring process appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s Central Bank Governor asks critics to provide alternatives (Category: Breaking News)
- IMF to visit Sri Lanka in late August for staff-level agreement – Central Bank Governor (Category: Breaking News)
- Sri Lanka central bank to consider a single policy rate mechanism (Category: Breaking News)
- Sri Lanka has no alternative other than IMF – CBSL chief (Category: Breaking News)
Sri Lanka is asking foreign investors in its international sovereign bonds to take a 30% haircut and is seeking similar concessions from holders of its other dollar-denominated bonds as it seeks to restructure its massive debt, its central bank governor said on Thursday.
A jury found a former New York City police sergeant and two Chinese citizens guilty on nine counts on Tuesday in a landmark federal trial involving a suspected Beijing-backed operation aimed at repatriating a Chinese fugitive living in New Jersey. Charged in the nearly three-week trial were former police officer-turned-private investigator Michael McMahon and two […]
- Can China fix youth unemployment woes with military recruitment drive? (Category: Breaking News)
- Sri Lanka turmoil highlights risk for Chinese firms investing overseas (Category: Breaking News)
- US military slams Chinese warship’s ‘unsafe and unprofessional’ manoeuvres in Taiwan Strait (Category: Breaking News)
- Beijing envoy warns Dutch of retaliation for chip curbs: ‘China won’t just swallow this’ (Category: Breaking News)
Central Bank governor says the 9% interest paid on the Employee Provident Fund (EPF) deposits will not be affected by the domestic debt restructuring (DDR) process.
By Easwaran Rutnam The World Bank has approved $700 million in financing to help Sri Lanka implement foundational reforms that restore macroeconomic stability and sustainability. Issuing a statement, the World Bank said that its Board of Directors approved $700 million in financing for two operations to help Sri Lanka implement foundational reforms that restore macroeconomic […]
- World Bank suspends financing to Sri Lanka (Category: Breaking News)
- Sri Lanka receives 1st disbursement of US$ 250 million from WB (Category: Breaking News)
- Crisis forced Sri Lanka to ensure financial discipline (Category: Breaking News)
- World Bank approves Sri Lanka’s access to concessional financing (Category: Breaking News)
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.The post World Bank approves $700 Million for crisis-hit Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- World Bank set to approve $700 Million for Sri Lanka next week (Category: Breaking News)
- World Bank to provide $500 million budget support to Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- Sri Lanka budget to seek recovery for crisis-hit economy (Category: Breaking News)
The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.
Mohammad Haris will lead Pakistan A in the eight-team Men’s Emerging Asia Cup, which will run from July 14 to 23 in Sri Lanka. Omar Yousuf has been named his deputy in the 15-member squad that includes the likes of Saim Ayub, Shahnawaz Dahani and Mohammad Wasim among others. Haris was part of the senior […]
- Afghanistan’s bowlers script their first-ever win over Pakistan (Category: Breaking News)
- Pakistan overcome de Leede’s all-round show in Hyderabad (Category: Breaking News)
- Bas de Leede four-fer keeps Pakistan to 286 (Category: Breaking News)
All Ceylon Makkal Congress (ACMC) leader and MP Rishad Bathiudeen has been granted time till 21 July by the Court of Appeal to file objections in respect of a petition that accuses him of having committed contempt of court. The petition has been filed against the former Minister for failing to implement an order issued […]
- Legal challenge to State Minister Diana’s seat dismissed (Category: Breaking News)
- Another petition filed challenging Online Safety Bill (Category: Breaking News)
- Appeals petition filed before SC over electricity tariff hike (Category: Breaking News)
- Court dismisses petition challenging amendments to SLFP constitution (Category: Breaking News)
By Shamindra Ferdinando SJB MP Dr. Harsha de Silva said that the all-party Committee on Public Finance (COPF) would have to examine the proposals presented by the Central Bank of Sri Lanka (CBSL) and the Treasury as regards the proposed domestic debt restructuring. COPF Chairman de Silva said that the CBSL and Treasury representatives appeared […]
- Harsha clarifies why the opposition opposed DDO strategy (Category: Breaking News)
- COPF further discusses DDO plan, looks into effect on superannuation funds (Category: Breaking News)
- Opp. alleges Speaker disrupts CoPF ahead of vote on CBSL Bill (Category: Breaking News)
- COPF summons CBSL, Fin. Min. officials to discuss domestic debt restructuring (Category: Breaking News)
The Committee on Public Finance (COPF) in Parliament today summoned officials of the Central Bank of Sri Lanka (CBSL), the Ministry of Finance and the Auditor General for the first session of discussions on proposed domestic debt restructuring process.
[…]The post DDR & The Moral-Cum-Political Question appeared first on Colombo Telegraph.
- Restructuring The Economy: A Stock Take (Category: Breaking News)
- Sustainable Debt & Unsustainable Democracy (Category: Breaking News)
- Involuntary & Inequitable DDO (Category: Breaking News)
- Political Buddhism & Corruption: The Unholy Twins (Category: Breaking News)
Sri Lankan tea prices that had been piping hot have cooled off as production in the world’s fourth-largest tea grower begins to recover.The post Sri Lanka tea prices dip 40% from record high on production rebound appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Prices of cup of plain tea and milk tea reduced (Category: Breaking News)
- Sri Lanka tea industry to fully recover next year, says minister (Category: Breaking News)
- Leaf Trend (Category: Business)
- Crop Condition (Category: Business)
Will not affect the banking system stability or the stability of any public or private bank Will not affect any interest on bank deposits of over 50 million depositors that is currently being paid Foreign as well as domestic debt restructuring proposals to be submitted to Cabinet tomorrow - Says President in Gampaha
- President's Climate Prosperity Plan identified climate issues that would affect the country (Category: Breaking News)
- Kokua Line: Some PUA claimants seem surprised to face state and federal income taxes (Category: USA, Hawaii)
- Kokua Line: Some PUA claimants seem surprised to face state and federal income taxes (Category: USA, Hawaii)
- Province warns of strong winds in northwest Ontario (Category: Canada, Ontario)
Sri Lanka Government is anticipating the restructuring of USD 17 billion out of a total of 41.5 billion of foreign debts within a 5-year term, President Ranil Wickremesinghe said today (June 27).The post Sri Lanka Government hoping to restructure $17 billion foreign debts along with local debts appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka aims to restructure USD 17 bn debt in five years  President (Category: Breaking News)
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- President assures local debt restructuring will not affect deposits (Category: Breaking News)
- Sri Lanka trying to reduce overall debt by $17 Billion, president says (Category: Breaking News)
President Ranil Wickremesinghe assured that the restructuring of domestic debt will have no impact on the membership balance of any public funds, including the Employees’ Provident Fund (EPF). He emphasized that the rate of return for superannuation funds will not be affected in any way. Furthermore, the President stated that the restructuring of domestic debt […]
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- Foreign debt restructuring not feasible without domestic debt restructuring  Fin. Sec. (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
President Ranil Wickremesinghe today assured that local debt restructuring will not affect deposits in the banking system or interest on bank deposits that is currently being paid. Speaking at the opening ceremony of a new building of the Gampaha District Secretariat, President Wickremesinghe said that the Government anticipates the restructuring of $17 billion out of […]
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
- CB warns of catastrophic consequences if banking sector collapses (Category: Breaking News)
- Interim-budget which meets IMF expectations presented to Parliament (Category: Breaking News)
- World Bank calls for quick restructuring of Sri Lanka’s debt (Category: Breaking News)
Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.The post World Bank to provide $500 million budget support to Sri Lanka appeared first on ONLANKA News - Latest Breaking News updates from Sri Lanka.
- World Bank set to approve $700 Million for Sri Lanka next week (Category: Breaking News)
- Sri Lanka receives $250 Mn as budgetary support from World Bank (Category: Breaking News)
- World Bank to provide $500 mn budgetary support to Sri Lanka (Category: Breaking News)
- World Bank approves $700 Million for crisis-hit Sri Lanka (Category: Breaking News)
Union Assurance, the #1 Bancassurance provider in Sri Lanka, recently hosted the annual awards night 2022 for the Seylan Bank Bancassurance Channel under the exalted theme of ‘Galactic Excellence’. The event which was held on May 12th, 2023, at the Courtyard by Marriott Colombo celebrated and rewarded the top-performing regions, branches, and staff members. The […]
- Union Assurance Champions Employee Engagement at the Bancassurance Super League 2023 (Category: Breaking News)
- Union Assurance Celebrates Spectacular Year with Commercial Bank Partnership (Category: Breaking News)
- Union Assurance Enters into Strategic Bancassurance Partnership with Standard Chartered (Category: Breaking News)
- Union Assurance Rewards ‘First Class Excellence’ at Bancassurance Awards (Category: Breaking News)
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