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Sri Lanka urged members of the UN Human Rights Council not to allow short-term political gains or “domestic vote bank politics” to overtake the work of the Council. Addressing the High-Level segment of the 55th Session of the Council through a pre-recorded video statement Minister of Foreign Affairs, Ali Sabry highlighted that despite the severe constraints […]
The year 2023, marked a key milestone for Union Bank with CG Capital Partners Pte. Ltd., indirectly acquiring the majority shareholding through its ownership in Culture Financial Holdings Ltd. CG Capital Partners Pte. Ltd., is an affiliate company of the international powerhouse CG Corp Global (CG). The improved macroeconomic outlook during FY2023 positioned Union Bank […]
By Shamindra Ferdinando With the presidential election scheduled for later this year, political parties represented in Parliament have stepped up efforts to forge alliances. In terms of the Constitution, presidential elections will have to be conducted between Sept 18 and Oct 18, 2024. The last presidential election was held in Nov 2019. Even though the […]
The Indian government is working on operationalizing Rupee investments in Sri Lanka in a move to boost Indian investments in its southern neighbor, two people aware of the matter told Mint.The post India to push rupee investments in Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Monday 26th February, 2024 Sri Lanka is a nation in the hara-kiri mode. It needs no enemies; it has become its worst enemy. It continues to maintain a bunch of failed, corrupt politicians and their bureaucratic lackeys responsible for ruining the economy and hell-bent on degrading vital national assets which they are planning to dispose […]
[…]The post Navigating The Economic Reawakening & Sustainable Growth appeared first on Colombo Telegraph.
[…]The post Disturbing Echoes Of The Last Phase Of The Civil War In Sri Lanka & The Treatment Of Palestinians Under Zionist Occupation – Part II appeared first on Colombo Telegraph.
Senior U.S. diplomat Richard Verma on Friday met Sri Lankan President Ranil Wickremesinghe and Foreign Minister Ali Sabry in Colombo, and discussed Sri Lanka's economic recovery and progress on its IMF program, the U.S. State Department said.The post Senior U.S. official discusses Sri Lanka’s IMF program in Colombo appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Accelerated lending sees loan book grow by Rs 56.8 billion in 3 months Deposits surge by Rs 109.4 billion in final quarter 12-month gross income up 21.82% to Rs 341.6 billion The Commercial Bank of Ceylon Group lent Rs 56.816 billion in the fourth quarter of 2023 at a monthly average of Rs 18.939 billion […]
Sri Lanka said on Wednesday it had exported tea worth US$20 million to Iran to partially repay its US$251 million oil debts, with Colombo saying Tehran’s visiting foreign minister had expressed “satisfaction” at the deal.The post Sri Lanka settles US$ 20 million Iranian oil debt with tea appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka sent a new restructuring proposal to dollar bondholders through its adviser Lazard as the South Asian nation seeks to complete overhauling its defaulted debt, according to people familiar with the matter. A counter proposal to a bondholder group’s offer in October for a 20% haircut and the issuance of macro-linked bonds was conveyed […]
Profit before Tax increases by 258% amidst external challenges Pan Asia Banking Corporation PLC reflected a steady performance amidst multitude of adversities emerging from challenging macro-economic conditions as the Bank reported its financial performance during 2023, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality in chall...
The Maldives is a strategically important nation in the Indian Ocean, now facing a high risk of debt distress due to its increasing proximity to China. The IMF has warned the Maldives that it needs to make urgent policy changes to avoid falling into debt. The Maldivian economy, which is heavily reliant on tourism, suffered […]
[…]The post Tailoring Our Needs To Match International Legal Requirements appeared first on Colombo Telegraph.
[…]The post RW-Israel Honeymoon & Political Matchmaking appeared first on Colombo Telegraph.
[…]The post Disturbing Echoes Of The Last Phase Of The Civil War In Sri Lanka & The Treatment Of Palestinians Under Zionist Occupation appeared first on Colombo Telegraph.
Sri Lanka’s inflation is anticipated to gradually stabilise around the targeted level of five per cent over the medium term, following a short-lived acceleration of inflation in the near term on account of the recent tax adjustments and supply-side disruptions, the Central Bank of Sri Lanka (CBSL) said in its monetary policy report for February. […]
Sri Lanka's economy is expected to keep growing in 2024 and gradually reach its potential over the medium term, according to the Central Bank's latest report on monetary policy.The post Central Bank of Sri Lanka says annual economic growth expected to turn positive in 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
[…]The post The Economic Setbacks Of Yahapālanaya Government appeared first on Colombo Telegraph.
The Government of Maldives has deported 186 foreign nationals, including 25 Sri Lankans, accusing them of committing crimes such as visa violations and drug offenses.The post Maldives deports 25 Sri Lankans over visa violations and drug offenses appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Hiran H.Senewiratne Foreign and local investor participation in the CSE showed significant improvement yesterday due to a decline in Treasury bill yields, market analysts said. However, stock market activities were not strong due to depressing conditions in the political arena and because of the absence of market- driven activities, analysts said. The All Share […]
Dr. Elias Joseph Jeyarajah, represented the Global Tamil Forum (GTF) at the recent launch of district level workshops for ‘National Conversation’ based on the Himalaya Declaration. The first inter-religious coordination committee promoting conversations on the merits of the Himalaya Declaration was held in Kurunegala on February 09. In spite of opposition from various quarters, particularly [̷...
Indian Prime Minister Narendra Modi and Sri Lanka’s President Ranil Wickremesinghe, witnessed the virtual launch of the Unified Payments Interface (UPI) connectivity between India and Sri Lanka. The President’s office said that in a ground-breaking move aimed at enhancing the convenience and security of digital payments for Indian tourists in Sri Lanka, a virtual launch […]
India’s Unified Payment Interface (UPI) service was launched today (February 12) in Sri Lanka in collaboration with LankaPay.The post India’s Unified Payment Interface (UPI) service launched in Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has recorded an 11.4% increase in workers’ remittances in January 2024, compared to those earned in January 2023.The post Sri Lanka’s workers’ remittances exceed USD 400 Million in January 2024 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Rex Clementine at Pallekele Sri Lankan cricket has been ahead of times compared to some of our Asian neighbours over the years. In our formative years, Gamini Dissanayake was convinced that the team needed a foreign coach and quite a few of them were hired including Sir Garry Sobers to help the team in early […]
State Minister of Power and Energy, D.V. Chanaka, says Sri Lanka has generated a revenue of USD 3 million through the sale of 5,200 MT of fuel via the revived bunkering system for vessels.The post Sri Lanka earned $3 Million from resuming bunkering system – State Minister appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]
Urges unity over deep political divisions for effective crisis management Says ‘intricate’ foreign debt restructuring will take up to six months Invites Opposition to confer with institutions that foster international financial stability by Sanath Nanayakkare As government revenue increases, measures will be taken to increase benefits for the people accordingly, President Ranil Wickremesinghe said...
Inaugurating the 5th session of the 9th Parliament of Sri Lanka President Ranil Wickremesinghe called upon all lawmakers to collaborate in nation building even though they would be contesting elections separately. “From ancient times to the present day, our world has encountered a myriad of crises, spanning nations and personal lives alike. While some crises […]