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Sri Lanka is reeling under last year s crushing economic meltdown and consequent political turmoil, but it is still a good time to invest in the cash-strapped island nation, according to Indian business leaders in capital Colombo.
The International Finance Corporation (IFC), the World Bank s investment arm, said it will provide Sri Lanka with a $400 million cross-currency swap facility to help fund essential imports.
The Monetary Board of the Central Bank of Sri Lanka has decided to reduce mandatory sale of export proceeds/receipts and inward workers’ remittances of commercial banks with effect from February 27, 2023.The post Sri Lanka’s Central Bank reduces mandated forex sales by banks to 15% appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Central Bank of Sri Lanka issues order slashing interest rates on lending products (Category: Breaking News)
- Central Bank’s ability to print money limited under new Act (Category: Breaking News)
- Sri Lanka’s forex reserves further hit by Bangladeshi move (Category: Breaking News)
- Bangladeshi banks asked to stop ACU transactions with Sri Lanka (Category: Breaking News)
Sri Lanka’s tea production is expected to fully recover next year after last year’s drop, the country’s Environment Minister Naseer Ahamed said.The post Sri Lanka tea industry to fully recover next year, says minister appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Leaf Level (Category: Business)
- Leaf Trends (Category: Business)
- Prices of cup of plain tea and milk tea reduced (Category: Breaking News)
- Sri Lanka tea prices dip 40% from record high on production rebound (Category: Breaking News)
Sri Lanka is among the top 5 nationalities granted dependant visas to the UK. The number of visa grants for people to come and live in the UK has more than doubled from over half a million in 2019 to 1.3 million in 2022, Migrant Watch UK reported. “One telling aspect of the figures is […]
- Japanese farms recruiting workers from Sri Lanka (Category: Breaking News)
- Police fire tear gas to disperse protest (Category: Breaking News)
- Seven single use plastic items banned from June (Category: Breaking News)
- China to extend visa exemption to six European countries (Category: Breaking News)
More than 100 participants from Sri Lanka and the Maldives joined in a workshop on how to access the international instruments of climate finance. During the online workshop experts shared key insights and opportunities for accessing international climate funds. The interactive workshop also provided an opportunity to discuss the latest developments on this critical issue […]
- Sri Lankan stakeholders prepare for COP 27 in Joint Climate Change Dialogues (Category: Breaking News)
- Sri Lanka briefs India on talks with the IMF (Category: Breaking News)
- US to increase development investment in Sri Lanka by US $19.2 million (Category: Breaking News)
- The Coca-Cola Foundation and Sri Lanka Red Cross Society come together to uplift over 1,800 wast... (Category: Breaking News)
Sri Lanka s tea production is expected to fully recover next year after last year s drop, the country s Environment Minister Naseer Ahamed said.
[…]The post Selling Our Troubles In Bankrupt Times – Sri Lanka’s Anarchism appeared first on Colombo Telegraph.
- Love Him Or Hate Him: Only Ranil Wickremesinghe Has The Depth Of Mind To Focus On Future Directi... (Category: Breaking News)
- The Dog’s Case of Professor Ashu & Hirunika’s Indiscretion (Category: Breaking News)
- Strikes & Protests: Everything, Everywhere, All At Once To Block The IMF (Category: Breaking News)
- Taxing Times (Category: Breaking News)
demands to know why UNP submitted nominations By Shamindra Ferdinando SJB mayoral candidate for the Colombo Municipal Council (CMC) Mujibur Rahuman yesterday denied President Ranil Wickremesinghe having asked him not to quit Parliament to contest the forthcoming local government polls. MP Rahuman resigned on 01 Jan. The former Colombo District MP said so in response to […]
- SJB asks whether govt. decided to do away with LG elections (Category: Breaking News)
- SJB: Has Prez made LG polls disappear? (Category: Breaking News)
- Bid to use private member’s motion to put off LG polls alleged (Category: Breaking News)
- SJB demands LG polls instead of conference on ‘local governance’ (Category: Breaking News)
The Ministry of Power and Energy has sought expressions of interest (EOIs) for the establishment of a petroleum refinery and associated products processing centre in Hambantota. The Ministry has invited EOIs from eligible investors, consortiums or joint ventures to express their interest for the establishment of an export-oriented petroleum refinery and associated product processing centre […...
- Special notice on admission of students to intermediate grades of national schools (Category: Breaking News)
- More than 1,300 medicines required by dental clinics in short supply (Category: Breaking News)
- 60,930 acres of paddy fields damaged by drought (Category: Breaking News)
- Govt. presents Appropriation Bill for 2023 (Category: Breaking News)
A retired Indian Ambassador (never posted to Sri Lanka) sent me these two quotations by Nehru. “My greatest challenge has been how to make a modern nation of a people steeped in religiosity” and at the tail end of his career he was asked, ‘What has been your greatest success?” He answered, “to have taught […]
- Douglas County to use leftover CARES Act money to help families in need (Category: USA, Nebraska)
- Douglas County to use leftover CARES Act money to help families in need (Category: USA, Nebraska)
- Douglas County to use leftover CARES Act money to help families in need (Category: USA, Nebraska)
- Fungus threatens to wipe out bat population (Category: USA, Washington)
Belarus and Sri Lanka have explored the possibilities of developing business contacts, BelTA learned from the National Centre for Marketing of Belarus, agency reports said. Representatives of the National Centre for Marketing held an introductory meeting with the Ceylon Chamber of Commerce (Sri Lanka). The parties have agreed on steps to raise awareness of companies […]
- Belarus, Sri Lanka discuss ways to promote business contacts (Category: Breaking News)
- Belarus, Sri Lanka agree to step up contacts in business education (Category: Breaking News)
- Fulltime Path (Category: Business)
- Belarus president plans to leave job under new constitution (Category: USA, South Dakota)
by Prof. R.P. Gunawardane A very interesting article, ‘Ceylon’s first university in memory and imagination’, by Ernest Macintyre in The Sunday Island of 12 February 2023 describing the life at University of Ceylon, Peradeniya Campus in fifties prompted me to write about the life at Peradeniya Campus in the next decade, the nineteen sixties. Macintyre […]
- Protesting students block Peradeniya-Galaha road (Category: Breaking News)
- Police use tear gas on Peradeniya University students protest (Category: Breaking News)
- March to Colombo stopped (Category: Breaking News)
- Say no to NEPF! Say no to abolishing free education! (Category: Breaking News)
Colombo and Jaffna are likely to feel the effect of any powerful earthquake happening in the Himalayan range, as predicted by Indian geologists, geologist Prof Athula Senaratne said on Saturday. If India experiences a quake of magnitude 8, it would be felt in Colombo and Jaffna, Prof Senaratne told reporters. Two years ago, a quake […]
- CID takes over probes into assault on former VC of Peradeniya Uni. (Category: Breaking News)
- President orders full probe into assault on former VC Peradeniya University (Category: Breaking News)
- 12 students suspended over attack on former VC of Peradeniya University (Category: Breaking News)
- Former VC of Peradeniya University hospitalised after assault (Category: Breaking News)
[…]The post Crisis-Hit Sri Lanka Economy appeared first on Colombo Telegraph.
- Evil Is Not Mere Money Printing, But Unbridled Government Expenditure (Category: Breaking News)
- The Role Of National Defence In A Crisis-Ridden Economy (Category: Breaking News)
- Bankrupt Sri Lanka Celebrated Independence, But Now It Is Back To Hard Economic Realities (Category: Breaking News)
- Citizens Should Be Aware Of The Burden Of Total Government Expenditure (Category: Breaking News)
India, G20 president, will showcase its success in the digital economy and may offer conditional help to other countries to further advance their own digital economy and payments infrastructure, Business Standard has learnt. The host may also hold advanced discussions with G20 partners and multilateral institutions on reducing the sovereign indebtedness of poorer nations in […]
- Prudent Canada (Category: Business)
- Deficit Spenders (Category: Business)
- European Confidence (Category: Business)
- Pow Wow (Category: Business)
[…]The post Why Are The Tamils Of The North & East Wanting To Live Separately From The Sinhalese? appeared first on Colombo Telegraph.
- Unitary Constitution For Sri Lanka Would Be Purposeless (Category: Breaking News)
- Abolition Of The Provincial Councils System: Reply To Milinda Moragoda’s Utterance (Category: Breaking News)
- Do The Sinhalese People Live On Mars? Who Is Telling The Truth? (Category: Breaking News)
- What Problems The Tamils Are Having In Sri Lanka (Category: Breaking News)
[…]The post “Weli Park”, An Old Message Revisited appeared first on Colombo Telegraph.
- The UDA Milking The Walkways (Category: Breaking News)
- An Incident At Independence Square (Category: Breaking News)
- Colombo – Burning In The Sun, Drowning In The Rain (Category: Breaking News)
- Anti-Corruption, A Losing Battle? (Category: Breaking News)
Police fired tear gas and used water cannons to disperse protesters at Ibbanwala Junction near Town Hall in Colombo during the demonstration organised by the National People’s Power (NPP).The post NPP protest march tear-gassed appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Inter-University Student Federation protest march tear-gassed (Category: Breaking News)
- HRCSL orders IGP to submit report on police tear gassing NPP protesters in Colombo (Category: Breaking News)
- Police fire tear gas at protesters in Colombo (Category: Breaking News)
- National People’s Power candidate injured during protest dies (Category: Breaking News)
[…]The post Lying About Age Of Protestant Mission Schools: Is Age Quality? appeared first on Colombo Telegraph.
- Scamming The Gestapo Church, Or Being Sound Christian Witness (Category: Breaking News)
- Andrew Sujeevan, Anglican Johnian Punished By A Corrupt Theocratic Church (Category: Breaking News)
- Wishing Bishop Pathmathayalan Strength Over Four Challenges (Category: Breaking News)
- The Rajakulendran Academy Of Western Music, Speech & Drama: Reviving English In Jaffna (Category: Breaking News)
The Fort Magistrate today (February 26) issued an order preventing protest or demonstration in several areas in the Colombo Fort causing inconvenience to the public and motorists from 1:00 PM till 8:00 PM today.The post Fort Magistrate issues court order against protest today (February 26) appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Court order issued preventing protests in Colombo tomorrow (Category: Breaking News)
- Fort Magistrate issues court order against NPP protest (Category: Breaking News)
- Court issues order preventing protestors from entering Galle Face Green (Category: Breaking News)
- Lakehouse protest dismissed (Category: Breaking News)
[…]The post Aragalaya’s Unfinished Business appeared first on Colombo Telegraph.
- IMF’s Prescription: Panacea Or Palliative? (Category: Breaking News)
- Anti-Terrorism Act To Prevent System Change (Category: Breaking News)
- Ranil’s Perilous Authoritarian Alternative (Category: Breaking News)
- RW, IMF & The Economy (Category: Breaking News)
In a bid to further facilitate investors through speedy approvals for investment projects, thereby easing the ease of doing business, the Board of Investment of Sri Lanka (BOI) will be granted more powers in future, Investment Promotion State Minister Dilum Amunugama stated.
- Auto Manufacture (Category: Business)
- Green economy (Category: Technology)
- Bad investment costs Government $500m (Category: Australia, Victoria)
- Agri Boost (Category: Business)
[…]The post Taxing Times appeared first on Colombo Telegraph.
- Still On The Rotten Bridge (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
- Politics Beyond 22 (Category: Breaking News)
- Selling Our Troubles In Bankrupt Times – Sri Lanka’s Anarchism (Category: Breaking News)
By N Sathiya Moorthy President Ranil Wickremesinghe’s so-called disclosure that the Election Commission (EC) had not declared the local government election (LGE) legally, smacks of political skull-drudgery of a kind that his name h as evinced through much of his long political career. As the Head of State and Government, and also the senior-most parliamentarian […]
- So, what if the government’s voter-base has dwindled… (Category: Breaking News)
- An Independence Day fete Ranil may still like to forget (Category: Breaking News)
- President accused of acting like Pusswedilla (Category: Breaking News)
- Humanitarian grant of USD 46 million from Japan to Sri Lanka (Category: Breaking News)
The G20 Finance Ministers and Central Bank Governors who met in Bengaluru, India from February 24-25, 2023 said that they look forward to a swift resolution to Sri Lanka’s debt situation. India’s Minister of Finance Nirmala Sitharaman, reading the Chair Summary and Outcome Document of the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, […]
- Sri Lanka briefs India on talks with the IMF (Category: Breaking News)
- Ranil reveals China’s refusal to agree with India, Paris Club (Category: Breaking News)
- China refuses to condemn Russia’s Ukraine invasion during G20 deadlock (Category: Breaking News)
- Sri Lanka to attend IMF-led sovereign debt roundtable (Category: Breaking News)
The Chief of Naval Staff of Pakistan Navy, Admiral Muhammad Amjad Khan Niazi who is currently on an official visit to Sri Lanka, met with Commander of the Sri Lanka Navy, Vice Admiral Priyantha Perera at the Navy Headquarters yesterday (25 Feb.).
- Sri Lanka New Navy Commander (Category: Breaking News)
- India to train 100 Sri Lankan student Navy officers (Category: Breaking News)
- Military Moves (Category: Business)
- Another boat arrives off WA coast (Category: Western Australia)
The International Monetary Fund (IMF) on Saturday called for ‘timely and orderly processes’ under common framework with regards to Sri Lanka’s debt resolution. The island nation faced severe economic crisis which resulted in high debt.The post IMF calls for ‘timely and orderly processes’ of debt resolution for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lan...
- IMF chief seeks timely resolution of Sri Lanka’s debt restructuring (Category: Breaking News)
- IMF calls for timely and orderly processes of debt resolution for Sri Lanka (Category: Breaking News)
- IMF chief Georgieva cites ‘fruitful exchange’ with China on debt issues (Category: Breaking News)
- Sri Lanka a ‘warning sign’ for countries with high debt levels and limited policy space – IMF (Category: Breaking News)
The World Bank has called for quick restructuring of Sri Lanka’s debt. World Bank President David Malpass said that Sri Lanka and other middle-income countries were in need of quick debt restructuring. “We should work together to achieve solutions – Zambia MoU, Ghana official creditors’ committee, Ethiopia rescheduling, and Sri Lanka financial assurances. All of […]
- World Bank assures Sri Lanka support (Category: Breaking News)
- Continue engaging with Sri Lanka’s official bilateral, private sector creditors – World Bank Chi... (Category: Breaking News)
- Former UK PM David Cameron holds talks with RW (Category: Breaking News)
- BASL concerned over Ranil’s attack on Saliya Pieris (Category: Breaking News)
International Monetary Fund Managing Director Kristalina Georgieva has called for a timely resolution of Sri Lanka’s debt restructuring. She said that timely and orderly processes are needed both for countries under the Common Framework (CF) for debt resolution and for those not covered by it, including Sri Lanka and Suriname. Georgieva made the statement the […]
- IMF says G20 Common Framework delivering for Sri Lanka (Category: Breaking News)
- IMF wants to resolve debt crisis in Sri Lanka (Category: Breaking News)
- IMF in talks with China to restructure Sri Lanka’s debt (Category: Breaking News)
- IMF chief says China helped reach debt relief deal for Sri Lanka (Category: Breaking News)
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