Uncertainty facing the global economy next year will exacerbate challenges at home for China, economists in Beijing say, while urging swift support to help counter external headwinds. As the risk of global recession looms, China should stay alert to turbulence in international markets and the potential of another financial crisis, said former vice-finance minister Zhu […]

China has opened the backdoor channel for assessing ties with US as Washington is “proactively making preparations for a conflict in the Taiwan Strait when it happens”, reported The HK Post. Information trickled in about the visit to New York of a group of former Chinese officials in early November as part of the largest […]

USD 4 mn available to stabilize food sector Against the backdrop of the country’s continuing financial crisis, the US has teamed with premier blue chip, John Keells Holdings, and the Hatton National Bank (HNB) to lend money to micro, small, and medium-sized enterprises (MSMEs) in the food sector. The US Embassy, in a statement dated […]

Four in every 10 households in Sri Lanka experienced a reduction in their incomes from June to December 2022, and one in every two households are currently relying on negative coping mechanisms to cope with the lack of food or money to buy it, a Food and Agriculture Organisation (FOA) report said. In its response […]

As China is in the grip of severe unemployment part from Covid with one in every five able Chine out of a job, top companies operating in the country have begun laying off employees, kicking off an economic down-spiral. Xiaomi, one of the world’s largest smartphone makers, has begun layoffs in China soon after tech […]

Jagoda stands by accusations By Shamindra Ferdinando Health Minister Keheliya Rambukwella has revealed that in respect of funds that had been made available by the Asian Development Bank (ADB) to procure urgently needed medicine, the entire procurement process was handled by that organisation. The disclosure was made at a hastily arranged media briefing on Wednesday […]

An estimated 5.7 million people (26 per cent of the population) or more are now in need of humanitarian assistance, with at least 4.9 million (22 per cent) being food insecure, a situation report by International Federation of Red Cross And Red Crescent Societies (IFRC) said. The report issued on December 28 said the current […]

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The Kelaniya Police Division has recorded the highest number of crimes so far this year with 2,287 incidents, says a survey conducted by the University of Peradeniya. The Anuradhapura Police Division has come second with 2,058 crimes, while the Nugegoda Police Division reported 2,018 crimes, Prof. Wasantha Athukorala of Department of Economics of the Peradeniya […]

by Sanath Nanayakkare Making an interesting bet on the cost of borrowing money by entrepreneurs and businesses, Supul Wijesinghe, CEO of SMB Finance predicted a fall in interest rates in 2023 or in the foreseeable future. “Interest rates should come down next year or in the foreseeable future as a result of the measures being […]

… insists he did not bypass President By Shamindra Ferdinando Health Minister Keheliya Rambulwella yesterday (28) said his Ministry was struggling to procure 153 medicines currently in short supply or out of stock in government hospitals despite the availability of a New Delhi credit line to buy the required medicines and surgical items from India. […]

By Samira Hussain Pakistan’s former prime minister, Imran Khan, is threatening to dissolve two provincial assemblies in a high-stakes attempt to force the federal government to hold early elections. The dissolution of legislatures controlled by his party in Punjab and Khyber Pakhtunkhwa is set for 23 December, about a year before elections are due. “For […]

Sri Lanka s economic crisis has deepened the risk of food insecurity, a report released by the World Food Programme (WFP) revealed.

When Sri Lanka slid into its worst economic crisis in seven decades leading to deadly riots and alarming shortages of fuel, food and medicines earlier this year, its giant northern neighbour stepped into the breach.

Wednesday 28th December, 2022 Reports that the Election Commission will have to hold the local government elections soon have upset government politicians beyond measure; they are delivering jeremiads against what they call unnecessary state expenditure amidst an economic crisis. Claiming that the mini polls will cost the country Rs. 10 billion, they would have the […]

By Rathindra Kuruwita Political parties had to field clean, dedicated and educated candidates at elections; otherwise, the voters will reject them, says Executive Director of People’s Action for Free and Fair Elections (PAFFREL) Rohana Hettiarachchi. The PAFFREL Executive Director told The Island yesterday: “The upcoming LG elections will be a crucial election. In 2022, people […...