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during the financial crisis, the President’s Media Division said. The President presented a short […]
Recognises Bank for highest number of transactions in country’s trade and supply chain finance domain between 1 July 2022 and 30 June 2023 The Commercial Bank of Ceylon has once again been declared the Asian Development Bank’s (ADB’s) ‘Leading Partner Bank’ in Sri Lanka for trade and finance transactions, in a significant reaffirmation of the […]
[…]The post IMF & Global Debt Crises appeared first on Colombo Telegraph.
“Our focus is on achieving 70% renewable energy by 2023. This includes 25% from solar panels, 15% from wind power, and 10% from natural gas. However, transitioning the energy mix is a gradual process, requiring meticulous planning and execution. We aim to reach 60% renewable energy by 2026 and eliminate fossil fuel-based electricity generation by […]
The Chinese spy ship ‘Shi Yan 6’ has entered the Malacca strait, bound for Colombo, amid confusion over whether Sri Lanka has granted access for the spy vessel to dock at Colombo. According to reports last month, the Sri Lankan Defence Ministry has granted Shi Yan 6 access to dock at Colombo port. However, the Sri Lankan […]
Talks between Sri Lanka and its international bondholders will seek common ground on how much of a hit should be incurred by domestic banks and holders of debt of the country's state-owned enterprises (SOEs), two sources with direct knowledge said.The post Sri Lanka bondholders talks focus on state enterprise debt, domestic banks – sources appeared first on ONLANKA - Sri Lanka Latest Breakin...
The first review of the International Monetary Fund’s Extended Fund Facility (EFF) for Sri Lanka is slated to commence today (September 14).The post First review of IMF’s Extended Fund Facility for Sri Lanka to commence today appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has accepted offers to exchange about $10 billion worth of defaulted local debt for new bonds, the Finance Ministry said on Tuesday, taking it a step towards meeting debt restructuring requirements ahead of an International Monetary Fund (IMF) review.The post Sri Lanka announces $10 billion local bond swap deal ahead of IMF visit appeared first on ONLANKA - Sri Lanka Latest Breaking News...
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
The European Union (EU) has called for concrete actions by Sri Lanka while taking note of plans for reconciliation mechanisms. In a statement delivered at the 54th Session of the UN Human Rights Council, the EU reaffirmed its commitment to Human Rights, reconciliation and accountability in Sri Lanka. “While the EU recognizes the challenges Sri […]
Muttiah Muralitharan believes Pakistan Cricket Board (PCB) is to be blamed for this fiasco due to the high ticket prices set by the board, who is the official host for the continental tournament.The post Muttiah Muralitharan criticizes Pakistan Cricket Board’s costly tickets for Asia Cup 2023 appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The government yesterday (01) increased fuel prices again and announced the cancellation of the QR code system that was in place to restrict fuel supply in the retail market. The QR code system was meant to drastically drop fuel consumption due to the financial crisis that throttled the economy
Sri Lanka's key inflation rate eased to 4% in August from 6.3% a month ago, the statistics department said on Thursday, marking continued stabilisation for the crisis-ridden economy.The post Sri Lanka’s key inflation rate eases to 4% in August appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
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 […]