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Sri Lankan tea prices that had been piping hot have cooled off as production in the world’s fourth-largest tea grower begins to recover.The post Sri Lanka tea prices dip 40% from record high on production rebound appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Prices of cup of plain tea and milk tea reduced (Category: Breaking News)
- Sri Lanka tea industry to fully recover next year, says minister (Category: Breaking News)
- Leaf Trend (Category: Business)
- Crop Condition (Category: Business)
Sri Lanka Government is anticipating the restructuring of USD 17 billion out of a total of 41.5 billion of foreign debts within a 5-year term, President Ranil Wickremesinghe said today (June 27).The post Sri Lanka Government hoping to restructure $17 billion foreign debts along with local debts appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka aims to restructure USD 17 bn debt in five years  President (Category: Breaking News)
- No final decision on domestic debt restructuring : Bandula debt (Category: Breaking News)
- President assures local debt restructuring will not affect deposits (Category: Breaking News)
- Sri Lanka trying to reduce overall debt by $17 Billion, president says (Category: Breaking News)
President Ranil Wickremesinghe today assured that local debt restructuring will not affect deposits in the banking system or interest on bank deposits that is currently being paid. Speaking at the opening ceremony of a new building of the Gampaha District Secretariat, President Wickremesinghe said that the Government anticipates the restructuring of $17 billion out of […]
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
- CB warns of catastrophic consequences if banking sector collapses (Category: Breaking News)
- Interim-budget which meets IMF expectations presented to Parliament (Category: Breaking News)
- World Bank calls for quick restructuring of Sri Lanka’s debt (Category: Breaking News)
By Rathindra Kuruwita A sinister attempt is being made in some quarters to trigger a run on banks and the five-day bank holiday is aimed at countering that move, State Minister of Finance Ranjith Siyambalapitiya has said. Siyambalapitiya, addressing the media, yesterday, assured that bank and other deposits and pension funds would not be affected […]
- Sri Lanka thanks India for giving assurances to IMF for USD 2.9B bailout package (Category: Breaking News)
- Sri Lanka expects major debt restructuring deals as IMF to review bailout - report (Category: Breaking News)
- President hopeful of commencing debt restructuring process by March (Category: Breaking News)
- SL has to meet USD 2.6 bn in foreign debt repayments and interest this year (Category: Breaking News)
President Ranil Wickremesinghe has assured that Sri Lanka has qualified for the assistance from the World Bank since all the required benchmarks for financial assistance from the WB have been fulfilled so far and that the Âmuch-needed funds will help strengthen the country s economy.
Sri Lanka and China’s EXIM Bank had talks on the debt restructuring exercise. Foreign Minister Ali Sabry had detailed discussions in Beijing with EXIM Bank of China Chairman Wu Fulin and a team of EXIM Bank. The Sri Lanka Embassy in China said that both sides expressed satisfaction at the conclusion of the talks. Earlier, Chinese […]
- China confirms two-year debt moratorium offered to Sri Lanka (Category: Breaking News)
- Sri Lanka expects IMF to clear next tranche following China deal (Category: Breaking News)
- Exim Bank of China and Sri Lanka discuss debt issue (Category: Breaking News)
- Sri Lanka must avoid China’s debt restructuring as Beijing is to seek preferential treatment (Category: Breaking News)
Debt-laden Sri Lanka will unveil its domestic debt restructuring strategy this week, central bank chief P Nandalal Weerasinghe said on Sunday (Jun 25), as the island navigates its worst financial crisis in decades. Sri Lanka will also likely obtain Cabinet and parliamentary approval for the debt restructuring strategy this week, Weerasinghe told local TV channels […]
- CB warns of catastrophic consequences if banking sector collapses (Category: Breaking News)
- Sri Lanka’s sovereign lenders yet to outline debt talks plans (Category: Breaking News)
- Sri Lanka to announce debt restructuring strategy in April (Category: Breaking News)
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
ECONOMYNEXT –Sri Lanka has been moving forward in bilateral debt negotiations by talking to individual creditors despite a clearly defined process for dealing with Paris Club and other creditors, President Ranil Wickremesinghe had said last week. Sri Lanka was following a ‘debtor led’ strategy by reforming the economy and also aiming at a ‘highly efficient […]
- No queues because we have stopped repaying our debt, but we’ll be back in trouble when repayment... (Category: Breaking News)
- India greatly sensitive to needs of Lanka – PM Modi (Category: Breaking News)
- President tells Arab envoys Lanka wants immediate ceasefire in Gaza (Category: Breaking News)
- President wants Lanka to be first in South Asia to join RCEP, largest trade bloc in history (Category: Breaking News)
[…]The post Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? appeared first on Colombo Telegraph.
- Planning For A Year Of Elections (Category: Breaking News)
- Is State Owned Temasek A Useful Concept For Sri Lanka? (Category: Breaking News)
- To Be Realistic, There Are Only Two Options (Category: Breaking News)
- Liberal Or Edible Economics: Global Disorder Worst In A Century (Category: Breaking News)
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.
- Government land policy is fair- Keheliya (Category: Breaking News)
- Bond Auction (Category: Business)
- ‘SL will implement home-grown solution’ (Category: Breaking News)
- Market Flavour (Category: Business)
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
- Sri Lanka settles US$ 20 million Iranian oil debt with tea (Category: Breaking News)
- Sri Lanka set to start tea-for-oil barter with Iran next month (Category: Breaking News)
- Lankan, Iranian officials discuss how to boost SL tea exports (Category: Breaking News)
- Iran to double tea imports from SL (Category: Breaking News)
Friday 23rd June, 2023 SriLankan Airlines came under a scathing attack in Parliament on Wednesday. In what turned out to be a rare moment of unity among warring political parties, both sides of the House joined forces to bash the so-called national carrier left, right and centre. Not that the beleaguered airline does not deserve […]
- Cabinet nod to lease up to 11 aircraft for SriLankan (Category: Breaking News)
- SOEs Restructuring Unit to study and make recommendations on SriLankan (Category: Breaking News)
- More than 10 SriLankan flights delayed today, at least 3 cancelled (Category: Breaking News)
- SriLankan Airlines double daily flights between Colombo and Mumbai (Category: Breaking News)
By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies and donor nations. Though the […]
- A stitch in time saves nine - Facing the short-term economic challenges (Category: Business)
- Achieving economic goals amidst global challenges (Category: Business)
- After Lanka and Pakistan, now Bangladesh lines up before IMF for bailout (Category: Breaking News)
- Raising the bar: The rise of the Sri Lankan economy (Category: Business)
By Shamindra Ferdinando UNDP Resident Representative in Colombo, Azusa Kubota, accompanied international expert on parliamentary development, Kevin Deveaux, to meet Speaker Mahinda Yapa Abeywardena at the Parliament on 14th June. They were joined by Policy Expert and Head of Governance, UNDP Colombo, Chandrika Karunaratne. Japanese national Kubota took over the UNDP mission in Colombo in […]
- Lacille poses pertinent questions to Parliament, UNDP (Category: Breaking News)
- Where have millions of USD invested in good governance and accountability projects et al gone? (Category: Breaking News)
- Impact of foreign-funded projects on Parliament’s standing as sole sovereign and supreme body (Category: Breaking News)
- US hand in GR’s ouster: Speaker finally confirms allegations (Category: Breaking News)
The Sri Lanka Government has not yet taken a final decision regarding the domestic debt optimization programme, Minister of State for Finance Shehan Semasinghe said.The post Sri Lanka Government has not taken a final decision yet regarding domestic credit optimization – Minister of State for Finance appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka ...
- Don’t be fooled by false advertising – Minister of State for Finance (Category: Breaking News)
- No move to restructure domestic debt – State Minister (Category: Breaking News)
- No final decision yet regarding domestic debt optimization - Semasinghe (Category: Breaking News)
- No final government decision yet regarding domestic credit optimization (Category: Breaking News)
[…]The post Paris Summit To Push For Global Debt Reforms & What Sri Lanka Could Bring To The Table appeared first on Colombo Telegraph.
- IMF & Global Debt Crises (Category: Breaking News)
- Of Elections, Bond Scams & Money Politics: The Anatomy Of Default @75 (Category: Breaking News)
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
- Child’s Guide To Debt Restructuring: Not A Cakewalk But A Task Entailing Hard Work (Category: Breaking News)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March. The economy of the country of 22 million is expected to shrink […]
- Sri Lanka and China’s EXIM Bank discuss debt restructuring exercise (Category: Breaking News)
- Top social media video creator/comedian promotes Sri Lanka (Category: Breaking News)
- Sri Lanka receives 1st disbursement of US$ 250 million from WB (Category: Breaking News)
- US to explore areas to support Sri Lanka (Category: Breaking News)
The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters, the biggest funding tranche for the crisis-hit island nation since an IMF deal in March.The post World Bank set to approve $700 Million for Sri Lanka next week appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - S...
- World Bank to provide $500 million budget support to Sri Lanka (Category: Breaking News)
- World Bank provides loan to strengthen healthcare in Sri Lanka (Category: Breaking News)
- No new financing to Sri Lanka until macroeconomic policy framework is ready – World Bank (Category: Breaking News)
- World Bank’s IFC to provide Sri Lanka with $400 million financing (Category: Breaking News)
ECONOMYNEXT –Sri Lanka cannot relax an import ban on vehicles, State Minister of Finance Ranjith Siyambalapitiya said, after the rupee fell steeply from around 191 to 220 level due to the operation of an inconsistent peg with one sided buying. The flexible exchange rate, concocted by Western mercantilists and peddled to countries without a doctrinal […]
- CBSL Chief: SL economy will recover at rapid pace in second half of 2023 (Category: Breaking News)
- IMF welcomes move to flexible exchange rate (Category: Business)
- Remittances through official channels up 78% in March (Category: Breaking News)
- High interest rates have prevented contraction of economy – CBSL Governor (Category: Breaking News)
Singapore is well-known for being an easy place to do business. Among the factors that play to the city-state’s advantage is an attractive tax system, an extensive network of tax treaties, ready availability of quality human capital, geopolitical stability, accessibility to financing, connectivity to the rest of the world, and good infrastructure. Singapore also has a […]
- RBI warns of Sri Lanka’s fate without corrective measures (Category: Breaking News)
- iPhone exports from India swell to record Rs 10,000 crore in May (Category: Breaking News)
- India should strive for win-win situation for all: Rajnath Singh at Indo-Pacific dialogue (Category: Breaking News)
- The Woolmark way: ‘Grown in Australia, Made in India (Category: Breaking News)
Pakistan Finance Minister Ishaq Dar claimed that geopolitics was behind a stalled loan programme as global institutions wanted Pakistan to default like Sri Lanka and then enter negotiations. Testifying before the Senate’s standing committee on finance, Ishaq Dar stressed that the country would meet its obligations with or without the IMF’s bailout package. He said […]
- Foreign powers want Pakistan to default like Sri Lanka – Pakistan Finance Minister (Category: Breaking News)
- Foreign powers want Pakistan to default like Sri Lanka- Pakistani Minister (Category: Breaking News)
- Pakistan s finance minister opposes provincial snap polls mandated by court (Category: Breaking News)
- COPF approves resolution on Domestic Debt Optimization (Category: Breaking News)
Sri Lanka's economy (LKGDP=ECI) shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades.The post Sri Lanka’s economy shrinks 11.5% in first quarter as financial crisis continues appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
- Sri Lanka balances polls and crisis recovery in 2024 budget deliberations (Category: Breaking News)
- Sri Lanka economy could shrink by -3.5% to -4%, president says (Category: Breaking News)
- At least 17 people hospitalized after massive fire in Pettah (Category: Breaking News)
- Sri Lanka to start next round of talks with creditors in April (Category: Breaking News)
Thursday 15th June, 2023 Sri Lanka Customs has reportedly informed the government that it will not be able to meet its revenue targets due to the existing ban on vehicle imports. It has suggested that a foreign credit line be opened for the import controls at issue to be eased. But the question is why […]
- Remove ban on vehicle imports – Customs… (Category: Breaking News)
- Sri Lanka Customs deems import restrictions on vehicles a hindrance to revenue (Category: Breaking News)
- Import restrictions further relaxed (Category: Breaking News)
- Vehicle imports increase (Category: Breaking News)
Privatisation of the telecom industry does not pose a threat to national security, according to Professor Rohan Samarajiva, former Director General of the Telecommunications Regulatory Commission.The post Privatising telecom industry poses no threat to national security – Professor Rohan Samarajiva appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka N...
- Sri Lanka Government to go ahead with privatising SLT despite ‘NO’ from S.O.C. on National Secur... (Category: Breaking News)
- SLT Chairman Rohan Fernando removed (Category: Breaking News)
- Sectoral Oversight Committee on National Security recommends not to privatise Sri Lanka Telecom (Category: Breaking News)
- Sri Lanka’s looming IMF review spotlights anti-corruption drive (Category: Breaking News)
Sri Lanka's President Ranil Wickremesinghe is likely to discuss the crisis-stricken nation's debt with Paris Club members on the sidelines of a trip to France next week, sources familiar with the matter told Reuters on Tuesday.The post Sri Lanka president to hold debt talks on France visit – sources appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka ...
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
- India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka (Category: Breaking News)
- Sri Lanka President Ranil Wickremesinghe leaves for UK and France on official visit (Category: Breaking News)
- Sri Lanka President to hold talks with Tamil National Alliance ahead of India visit – report (Category: Breaking News)
[…]The post FDIs – BOIs & Exchange Crisis appeared first on Colombo Telegraph.
- Shocking & Damaging Performance Of BOI In Front Of COPF: Sack All The BOI Senior Staff To Save T... (Category: Breaking News)
- India Is Over The Moon, Ranil Wants Sri Lankan Children Taught Hindi & Chinese (Category: Breaking News)
- Budget Woes; How Soon Will Titanic Touch The Bottom? (Category: Breaking News)
- What Is To Be Done? – Anura Kumara Dissanayake (Category: Breaking News)
he Sri Lankan Rupee (LKR) has depreciated against the US dollar (USD) today (June 12), according to the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Rupee depreciates against U.S. Dollar appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
- Sri Lankan Rupee further depreciates against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee appreciates against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee appreciates against U.S. Dollar (Category: Breaking News)
- Sri Lankan Rupee appreciated against U.S. Dollar on April 26, 2024 (Category: Breaking News)
Sri Lanka’s workers’ remittances in the month of May 2023 was recorded at USD 479.7 million, according to the latest figures from the Central Bank of Sri Lanka (CBSL).The post Sri Lankan Migrant workers’ remittances record sharp increase in May appeared first on ONLANKA News - Sri Lanka Latest Breaking News and Live Updates - Sri Lanka News.
- Sri Lanka’s workers’ remittances increased by 57.5% in 2023 (Category: Breaking News)
- Sri Lanka’s foreign remittances up by 98.8% in February – Manusha (Category: Breaking News)
- Migrant workers’ remittances record sharp increase in March (Category: Breaking News)
- Expatriate Workers’ remittances in January stood at USD 437 Million – Manusha (Category: Breaking News)
[…]The post Good Governance & Economic Development appeared first on Colombo Telegraph.
- Fleas Dream Of Buying A New Dog (Category: Breaking News)
- Opinion Vs Truth (Category: Breaking News)
- Are We Rotting Or Rotten? (Category: Breaking News)
- Sri Lanka’s Two Challenges: Economic Recovery & Political Devolution (Category: Breaking News)
By Y P Prakash The current state of Sri Lanka evokes memories of India’s experience in the 1990s, although India was able to rectify the situation before it escalated to a critical level akin to a Bastille-like crisis. By 1991, India found itself on the brink of sovereign default. The Gulf War exacerbated the situation […]
- India – Sri Lanka Strengthen Trade and Connectivity with Daily Chennai-Jaffna Flights (Category: Breaking News)
- Sri Lanka’s energy sector at risk: Calls for diversification amidst Chinese investments (Category: Breaking News)
- India’s aerial capabilities undergoing substantial expansion and advancement (Category: Breaking News)
- Breaking Barriers: Sri Lanka’s Ambitious Vision for Regional Energy Integration and Grid Connect... (Category: Breaking News)
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