Maldives President Ibrahim Mohamed Solih has conceded defeat in a presidential run-off vote after an official count showed his rival Mohamed Muizzu in an impenetrable lead. “Congratulations to president-elect Muizzu,” Solih wrote on X, formerly known as Twitter, after the Elections Commission of the Maldives showed his opponent winning 54 percent of ballots on Saturday.  […]

The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender. Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a […]

Sri Lanka’s High Commissioner to India Milinda Moragoda who is to complete his tenure in Delhi shortly, paid a farewell call on the Minister of Finance and Corporate Affairs of India Smt. Nirmala Sitharaman today (27) at the Finance Ministry in New Delhi. During the call, the High Commissioner expressed his appreciation to Minister Sitharaman […]

Friday 29th September, 2023 The Rajapaksa-Wickremesinghe government continues to be at loggerheads with irate professionals, who are demanding solutions to their problems. Many of them have already left the country never to return thanks to the government’s callous disregard for their grievances. University teachers staged a protest in Colombo the other day in a bid […]

by SALIYA WEERAKOON and Prof. ALEX LIN CHEE LOK In 1914, Cambridge-educated D. R Wijewardena, arguably one of the most recognised entrepreneurs in the country, bought the Sinhala daily Dinamina. History also records that he purchased the English daily, Ceylon Daily News, in 1917. Consequently, Wijewardena is known as the press baron of the pre-independence of Ceylon. He […]

Herath alleges Budget Office part of flawed political strategy By Shamindra Ferdinando Civil society activist Sirithunga Jayasuriya Tuesday (26) said that those genuinely concerned about political strategies of the Wickremesinghe-Rajapaksa government should be wary of possible moves to put off the presidential election scheduled for next year. Pointing out that both Provincial Councils and Local [...

The Secretary of the Ministry of Environment, Dr. Anil Jasinghe, announced that Sri Lanka has formally committed to providing the essential funding for President Ranil Wickremesinghe s 2048 Green Economy Programme.

Former Parliamentarian Mujibur Rahman alleges that the government is working to curtail the democratic rights of the people of the country including the freedom of speech, pretending that it is necessary to stabilize the country and the economy.

President Ranil Wickremesinghe, in his address at the 2023 Commercial Mediation Symposium at Colombo’s Hilton Hotel, emphasized the need for a cultural shift towards efficient dispute resolution in Sri Lanka. He acknowledged the long-standing reliance on trial courts and stressed the importance of embracing alternate dispute resolution methods. Highlighting the government’s commitment, he mentione...

By Rathindra Kuruwita President Ranil Wickremesinghe and the representatives of the International Monetary Fund (IMF) will today (26) discuss the progress Sri Lanka has made on its reform programme. This is the final discussion IMF representatives, who are here to review the loan before approving its second tranche, will hold in Sri Lanka. The IMF team arrived on 14 September. The […]

By Shamindra Ferdinando Governor of the Central Bank Dr. Nandalal Weerasinghe yesterday (25) questioned the conduct of some MPs who sought to direct public anger at officials over the economic crisis. Alleging that such an attempt had been made last year in the wake of attacks on politicians’ properties, Dr. Weerasinghe said that problems couldn’t […]

Over 200 corporate leaders attended the second Economic Forum sponsored by HSBC recently which was to discuss and share insights into the latest global trends and opportunities emerging for economic growth in Sri Lanka. Frederic Neumann, HSBC’s Chief Asia Economist and Co-Head of Global Research for HSBC Asia along with Aayushi Chaudhary, HSBC Economist for […]

The reason why the United States sees China as an ever-bigger threat is not just because of its status as the world s second-largest economy. It is primarily because China presents an alternative development model distinct from that advocated by the US and its western allies...

by Shihar Aneez State revenue has seen a shortfall of Rs. 100 billion as of now compared to the revenue target agreed with the International Monetary Fund (IMF), State Finance Minister Ranjith Siyambalapitiya said.Tax cuts for political reasons in December 2019 has resulted in a sharp fall in Sri Lanka’s tax revenue to GDP ratio, […]