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World leaders have been gathering in India ahead of a G20 summit between nations that are divided on many issues, the biggest being the war in Ukraine following Russia’s invasion. On Friday evening US President Joe Biden met his host, Indian Prime Minister Narendra Modi, with the leaders pledging cooperation in a raft of areas. […]
Singaporeans have chosen Tharman Shanmugaratnam as their next president – but many would have let out a small sigh of disappointment as they did so. On Friday, the former top minister won a record 70.4% of the votes, comfortably beating two other candidates in the country’s first contested presidential election in more than a decade. […]
Singaporeans have headed to the polls to vote in their first contested presidential election in over a decade. The president has a mainly ceremonial role in the city-state with few powers and little say in public affairs. But the result on Friday could be a marker of public sentiment on the long-term ruling People’s Action […]
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.
By Shamindra Ferdinando Justice Minister Dr. Wijeyadasa Rajapakse, PC, declared in Parliament that the winners of LPL (Lanka Premier League) 2023 B-Love Kandy had been sponsored by an enterprise that was banned in the country. The statement was made in Parliament on 24th August. The one-time President of the Bar Association found fault with SLC […]
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, had failed to pay the interest and principal on […]
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 […]
[…]The post The Economy & Politics: A Reality Check appeared first on Colombo Telegraph.
Sri Lanka President Ranil Wickremesinghe has announced the swift implementation of a comprehensive plan to elevate the Arugam Bay tourist zone into a highly desirable destination for both local and international tourists, with the potential to generate substantial revenue.The post Sri Lanka President reveals strategic roadmap to transform ‘Arugam Bay’ into a high-income tourist destina...
By J. Edward Moreno Tremors in China’s real estate market are shaking the country’s economy, as well as the world, which has come to rely on China as a reliable engine of growth. Major developers are faltering as they face huge losses, struggle with mountains of debt and miss payments to lenders. A long-running building boom […]
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
[…]The post Naked King & The Crumbling State: Seven Decades Of Fake Saviours appeared first on Colombo Telegraph.
By The Coca-Cola Company, Managing Director – Sri Lanka & the Maldives, Pankaj Sinha Coca-Cola, with its 62-year presence in Sri Lanka, has remained committed to supporting this beautiful country through its challenges. As someone who has made Sri Lanka his home since 2019, and seen the country grapple with natural disasters, acts of terrorism, and […]
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part IV appeared first on Colombo Telegraph.
[…]The post Change Flight From Stability With Stagnancy appeared first on Colombo Telegraph.
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.
By Jehan Perera The situation in the country, particularly with regard to the economy and politics, can be described as stable but stagnant. The economy is stable in that it has not experienced further collapse in comparison to the kind witnessed last year when international bankruptcy was admitted. But the economy still continues to contract, […]
Monday 21st August, 2023 Much is being talked about ‘pyramids’ and ‘islands’, of all things, these days. Another pyramid scheme has reportedly collapsed, and those who have lost their money are letting out howls of protests via social media. The Central Bank, from time to time, issues severe warnings to the public about such frauds, […]
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 […]
[…]The post Bold Buddhists & Progressive Tamils Must Interface: A Second Trump Term Poses Intrinsic Dangers Everywhere appeared first on Colombo Telegraph.
Sri Lanka’s largest bilateral creditor, China, has assured the island nation its help in effectively addressing the debt challenges as it has to finalise the external and domestic debt restructuring of a whopping USD 41 billion by September before the IMF’s first review. The International Monetary Fund (IMF) is set to conduct its first review […]
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.
Ghana majority leader has blamed Sri Lanka’s Central Bank for the economic crisis in the island. The Majority Leader in Ghana’s Parliament, Osei Kyei-Mensah Bonsu, said there is no part of the Constitution that mandates the Bank of Ghana to report all its activities and transactions directly to Parliament. He said the obligation of the […]
[…]The post Target 2048 – Social Market Economy Ideology Need Be Clarified & Signed Off appeared first on Colombo Telegraph.
The IMF will conduct the first review of the $2.9 billion bailout to Sri Lanka from September 11-19, state minister of finance Ranjith Siyambalapitiya said on Saturday and declared that the country has successfully fulfilled the nine conditions set by the global lender.The post IMF to conduct bailout review for Sri Lanka in September appeared first on ONLANKA - Sri Lanka Latest Breaking News and T...
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 […]
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 […]
Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country's central bank, Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday.The post Sri Lanka central bank chief: monetary policy transmission still incomplete appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By N Sathiya Moorthy If someone thought that President Ranil Wickremesinghe was funny about it, he was not. If anything, it sounded more Quixotic than possibly predecessor Gotabaya Rajapaksa’s misadventure with ‘organic farming’. According to reports, at an official meeting the other day, Wickremesinghe asked Health Ministry officials to devise a strategy to seek compensation […]