Thousands of ethnic minority Muslims surrounded a mosque in southwestern China over the weekend in a last-ditch effort to prevent what they said was an attempt by authorities to remove its dome and minarets, as a crackdown on religious freedoms widens. The apparent alteration of a mosque belonging to the Hui ethnic group in Najiaying village, Yunnan […]

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 […]

The Colombo Consumer Price Index (CCPI) indicates that Sri Lanka’s inflation rate had eased to 25.2 percent in May from 35.3 percent in April, the President’s Media Division (PMD) said on Wednesday. This reduction in inflation provides some relief to the crisis-hit economy, which has been severely impacted by a foreign exchange crisis, leading to […]

Friday 2nd June, 2023 Long lines of vehicles suddenly appeared near filling stations yesterday, evoking dreadful memories of a dark era and causing public panic. Pumps had run dry at most fuel depots, and people had to wait for hours to obtain petrol and diesel. Minister of Power and Energy Kanchana Wijesekera hurriedly issued a […]

By Shyam Nuwan Ganewatta Sri Lanka’s economy would recover at a rapid pace in the second half of 2023, Central Bank Governor, Dr. Nandalal Weerasinghe said yesterday addressing a press conference in Colombo.Dr. Weerasinghe also said that the inflation would drop to a single digit by the end of July 2023. Strict fiscal and monetary […]