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The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor that is contributing to the current crisis and the resultant hardships is the lack of foreign exchange liquidity in the banking system. Such shortage of […]
Providing financial and technical assistance towards the switch to renewable energy technologies The United Nations Development Programme (UNDP) in Sri Lanka together with the Sri Lanka Sustainable Energy Authority (SLSEA) has commenced an initiative to strengthen rural economies, increase forest cover, improve the living standards of rural women, and sustainable industries and small and medium en...
Sri Lanka’s No. 1 Bank, Bank of Ceylon, marks its 83rd Anniversary today. The Bank will celebrate the occasion beginning with a multi-religious ceremony at the Bank’s Head Office with the participation of distinguished guests comprised of customers and well- wishers. The event will be held with the patronage of the Bank’s Chairman, Kanchana Ratwatte, […]
On July 20 auction low grown averaged at 4.54 dollars per kilogram
Non-oil imports collapsed 35.6 percent to 1,026 million US dollars.
[…]The post Ranil Wickremesinghe: A Pimp Or A Prince? appeared first on Colombo Telegraph.
[…]The post Proroguing The Parliament – A Political Subterfuge! appeared first on Colombo Telegraph.
We need to only remind ourselves of what happened to Greece and China (KMT) - D S Sennayake
The merchandise trade balance recorded a surplus in June 2022 for the first time since August 2002, reflecting the impact of historically high monthly export earnings and the continued decline in import expenditure, says the Central Bank of Sri Lanka (CBSL).
When India’s Information Technology Act 2000 was first promulgated, it conferred a ‘conditional safe harbour’ upon ‘intermediaries‘, which include social media platforms, instant messaging portals, and entities acting as conduits connecting users. This benefited digital players, who were now exempt from liability for third-party information action after meeting specific diligence criteria. However...
The widely acclaimed globalisation of the post-Cold-War era is now running in reverse. A protracted slowdown in global trade has been reinforced by persistent pandemic-related supply chain disruptions, ongoing pressures of the US-China trade war and efforts to align cross-border economic ties with geostrategic alliances, known as “friend-shoring”. These developments raise the pressure on China, [&...
China will implement a new policy of rotating teachers across different schools in Beijing from next quarter, a move likely to shake up demand and supply of so-called xuequfang, or “school district” properties in the nation’s capital. Primary and middle school teachers in Beijing will get the opportunity to be reassigned to other schools in all […]
He has over 23 years of experience in the banking sector
The remaining petrol reserves in Sri Lanka will likely be insufficient to meet normal needs, the World Food Programme (WFP) said. The Government has announced restrictions on fuel imports for the next 12 months as it faces a severe supply shortage. “Remaining petrol reserves will likely be insufficient to meet normal needs. The situation has […]
Anthony Nihal Fonseka has been reappointed as a member of the Monetary Board of the Central Bank of Sri Lanka (CBSL) with effect from 27 July 2022 for a period of six years. Previously, he served on the Monetary Board from July, 2016 to May 2020 and from May 2022 to July 2022. He obtained […]
[…]The post Presidential Dilemma: Find Fuel Or Face Protests appeared first on Colombo Telegraph.
The less liquid firm says taken steps to reduce all non-essential expenses
The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the people.
Opposition Leader Sajith Premadasa says there is a lack of trust amongst politicians in Sri Lanka. Premadasa tweeted saying the real system issue is that there is no trust amongst politicians. “There is no trust amongst politicians. That’s the real system issue. It will take a lean team of cabinet members who can work well […]
The Central Bank of Sri Lanka (CBSL) has warned of stern action against market players who fail to fully comply with foreign exchange regulations. Issuing a statement, CBSL said that the bank and the Government have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor […]
SORA’s objective is to become a usable currency for both users on Earth as well as the Metaverse SORA platform currency is governed by a Parliamentary system that has multiple bodies with clear separation of powers, and where the members are chosen randomly from the SORA Citizen population. XOR transactions are fast and cheap, costing […]
By Shiran Ranasinghe and Sanath Nanayakkara The Ceylon Petroleum Corporation (CPC) has still not paid for a ship carrying 40,000 tonnes of diesel that had arrived in Colombo Port on 16 July 16. The CPC has to pay 52 million dollars to the Dubai based Coral Energy before unloading the diesel. Moreover, the CPC also […]
By Ifham Nizam Many professionals including medical specialists were spending days and nights in fuel queues, but the engineers of the Ceylon Electricity Board had no such problem as the government giving priority to supplying fuel for power generation, a senior Power and Energy Ministry official said. Despite everyone else undergoing untold hardships trying to […]
By Ifham Nizam The Ministry of Agriculture had yesterday decided to establish a dollar account for the development of the agriculture sector for the country’s food security, a senior Ministry official said.Chairman of the Presidential Committee on National Food Security, Dr. Suren Batagoda, said that if Sri Lanka’s food security is not ensured, the people […]
Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka, it was announced yesterday.Issuing a statement, the World Bank said that a macroeconomic policy framework requires deep structural reforms that focus on economic stabilisation, and also on addressing the root structural causes that […]
Food prices up 90 percent over 12 months
Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka, the World Bank said today. The World Bank said the macroeconomic policy framework requires deep structural reforms that focus on economic stabilization, and also on addressing the root structural causes that created this […]
The World Bank Group says it is deeply concerned about the dire economic situation and its impact on the people of Sri LankaThe post No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank appeared first on ONLANKA News :. Sri Lanka Breaking News Updates - Latest News in Sri Lanka.
Sovereign default together with increasing economic challenges poses significant downside risks to DFCC's profitability