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Beijing [China], August 19 (ANI): Raising concerns regarding the financial crisis triggered by the downturn in China’s real estate market, Chinese investment firm Zhongrong Trust , which managed USD 87 billion worth of funds for corporate clients and wealthy individuals as of the end of 2022
by Laura He China has long been the engine of global growth. But in recent weeks, its economic slowdown has alarmed international leaders and investors who are no longer counting on it to be a bulwark against weakness elsewhere. In fact, for the first time in decades, the world’s second economy is itself the problem. Hong Kong’s Hang […]
H.J.M Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95% of his crop and is threatening crisis-hit Sri Lanka's summer rice harvest.The post Drought dents Sri Lanka’s economic hopes, farmers’ livelihood appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Stating that multiple challenges confront the G20 grouping, External Affairs Minister S Jaishankar said that India adopted an unconventional approach to its Presidency, making it much more connected with people. A major highlight of the second day of the Think20 (T20) Summit in Mysuru on Tuesday was a virtual address by Jaishankar, followed by a […]
Bio Foods (Pvt.) Ltd., a pioneer in export agriculture in Sri Lanka, proudly commemorates its 30th anniversary as a leader of organic and fair-trade agriculture on a global scale. Established in 1993 by visionary founder and Chairman, Dr. A. Sarath Ranaweera, Bio Foods has emerged as an exemplary model for sustainable and ethical farming practices. […]
Herath asks whether govt. wants to pave the way for new player By Shamindra Ferdinando The Cabinet-approved national energy policy related to the development of natural gas infrastructure has been suspended by the government following representations made by Power and Energy Minister Kanchana Wijesekera. Dissident SLPP MP Prof. Charitha Herath on Tuesday (22) said that […]
Sri Lanka’s consumer inflation rate more than halved to 4.6% year-on-year in July, helped by falling food prices, the statistics department said on Monday.The post Sri Lanka’s July consumer inflation more than halves to 4.6% appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Rebel group questions national security review By Shamindra Ferdinando Having elected UNP leader Ranil Wickremesinghe as the President, in July last year, the SLPP couldn’t keep silent as the UNP leader took decisions that would have far reaching implications, Prof. G. L. Peiris warned yesterday (21). Addressing the media at the rebel SLPP group’s Nawala Office, Prof. […]
Government authorities must consult vehicle importers when making decisions on relaxing an ongoing import ban, President of the Vehicle Importers’ Association Indika Sampath Merinchige said. Welcoming a recent announcement by the government that it will scrap an import ban on several types of commercial vehicles, Merinchige told reporters on Monday August 14 that the authorities […]
Sri Lanka expects the first review by the International Monetary Fund (IMF) in September to be successful. State Minister of Finance Shehan Semasinghe said that the IMF will assess the programme’s performance until the end of June. “We welcome the IMF team in Sri Lanka for the first review of the Extended Fund Facility (EFF) […]
Chinese oil major Sinopec expects to start operations in Sri Lanka on Sept. 20 and will be allowed to sell fuel for less than the maximum retail price set by the government, Sri Lanka's power minister said on Tuesday.The post Sri Lanka says China’s Sinopec to start operations September 20 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
An International Monetary Fund (IMF) staff team will visit Colombo in a month's time for the first review on Sri Lanka's loan programme, a spokesperson said on Tuesday.The post IMF staff to visit Sri Lanka in September for first programme review appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
is struggling with its worst financial crisis in over seven decades, […]
Opposition Leader Sajith Premadasa has accused the government of attempting to sell state-owned media channels, owing to the country s ongoing financial crisis.
Sri Lanka said that India will be one of the closest countries to enhance investments in Sri Lanka given its proximity to the Island nation and that it wants to have a very conducive environment for investors to come and invest. In an interaction with PTI, Sri Lankan Finance Minister Shehan Semasinghe also sounded optimistic […]
The Central Bank of Sri Lanka has cut the statutory reserve ratio for commercial banks by 200 basis points to 2%, effective Aug. 16, it said on Wednesday.The post Sri Lanka Central Bank cuts statutory reserve ratio by 200 bps appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Yahapalana Speaker Karu Jayasuriya’s plea for Indian funding to develop Elapathagama in the memory of the late Maduluwawe Sobitha Thera remains a mystery. In terms of an agreement signed on 14 July, 2017, India provided Sri Lankan Rs 300 mn to develop Elapathagama in the Anuradhapura district. The late Sobitha Thera, a controversial character, spearheaded […]
[…]The post To Be Realistic, There Are Only Two Options appeared first on Colombo Telegraph.
Amidst continuing financial turmoil in the country, the Japanese managed Colombo Dockyard PLC (CDPLC) has delivered the first-ever Cable Laying and Repair Vessel (CLRV) to the European market last week. The buyer is Orange Marine France “C/S Sophie Germain” 100 in length is a state-of-the-art, high-technology vessel, specifically designed and equipped for sub-sea cable laying […...
Sri Lanka on Saturday invited Japan to resume investment in projects including power, roads and ports as the Japanese foreign minister wrapped up the first high-level visit to the crisis-hit country in nearly four years.The post Crisis-hit Sri Lanka invites Japan to resume investment appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
With more than one in five young people unable to find jobs, there is hope that China’s stubbornly high youth unemployment rate can be a powerful catalyst for the government to act. So far, Beijing has been offering big words but little money, even as the economy witnesses a sharp, double-dip downturn only seven months […]
Sri Lanka's parliament on Thursday (July 20) approved a new law to improve the independence of the country's central bank, the deputy speaker said, as part of reforms linked to a $2.9 billion International Monetary Fund bailout package.The post Sri Lanka parliament approves bill to boost central bank independence appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
India and Sri Lanka said on Friday that they had agreed to improve economic ties by increasing cooperation in renewable energy and studying the feasibility of building an oil pipeline and a land bridge between the two countries.The post India, Sri Lanka agree to boost ties through energy, power and port projects appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lankan President Ranil Wickremesinghe arrives in New Delhi on Thursday on a two-day visit hoping to strengthen economic ties between the South Asian countries.The post Infrastructure, energy and debt on agenda as Sri Lanka president arrives in India appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
PCs better in managerial efficiency and financial discipline than ministries By Shamindra Ferdinando President Ranil Wickremesinhe has found fault with Parliament for the developing financial crisis. He has asserted that one of the major reasons for the crisis was the failure
The visit of President Ranil Wickremesinghe to India has significance in a number of spheres from development to strategic partnership with Sri Lanka’s immediate neighbor. As India tries to move forward with stalled initiatives with its crisis-hit neighbour, Sri Lanka is keen on discussing energy, power and port projects according to Foreign Minister Ali Sabry. […]
The total tax revenue collected by the Inland Revenue Department (IRD) for the first half of 2023 was 696,946 million rupees (2,233 million U.S. dollars), the IRD said in a press release on Wednesday night.The corresponding revenue in the first six months of 2022 was 361, 832 million rupees (1,159 million U.S. dollars), the IRD […]
About 300,000 Lankans were scheduled to leave the country for overseas jobs this year with most of them choosing to work in Gulf countries, the Bureau of Foreign Employment (BFE) said on Monday. BFE Deputy General Manager Gamini Senarath Yapa told the media on Monday that more than 152,000 Lankan workers had left the country […]
Sri Lanka is likely to discuss energy, power and port projects during a presidential visit to New Delhi next week, the Foreign Minister said, as India tries to push forward stalled initiatives with its crisis-hit neighbour. India’s support was critical for Sri Lanka last year after it almost ran out of dollars and sank into […]
Sri Lanka is likely to discuss energy, power and port projects during a presidential visit to New Delhi next week, the foreign minister said on Monday, as India tries to push forward stalled initiatives with its crisis-hit neighbour.The post Sri Lanka to focus on energy, port projects with India during presidential visit appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.