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[…]The post Debate Over Profits Of Banks: Who Shares Them Ultimately? appeared first on Colombo Telegraph.
[…]The post Palestine & Ukraine: Two More Nails In Imperialism’s Coffin? appeared first on Colombo Telegraph.
The credibility of the Narendra Modi government’s neighbourhood first policy is evident as India is now planning to supply thousands of metric tons of onion to Sri Lanka after supplying vast quantities of essential commodities to Maldives under the pro-China Mohammed Muizzu regime. It is understood that besides this, India on April 3 allowed a […]
Sri Lanka and a group of its creditors are in final negotiations to suspend debt repayments until 2028, Nikkei has learned, as country creditors including Japan seek to prevent China’s influence from expanding in the debt-ridden island. “Negotiations [with the creditor nations] have concluded. We are hoping that it [a detailed announcement] will take place […]
NikkeiAsia reports that Sri Lanka and a consortium of its creditors are currently in the final stages of negotiations to postpone debt repayments until 2028.The post Sri Lanka’s debt repayments to be suspended until 2028 – NikkeiAsia Reports appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
LOLC Finance PLC, Sri Lanka’s premier Non-Banking Financial Institution (NBFI), has once again set a remarkable milestone in the digital finance landscape by clinching an outstanding five gold awards at the prestigious Lankapay Technnovation Awards 2024. This exceptional achievement fortifies LOLC Finance’s utmost expertise and innovation in the realm of digital financing, further emphasizing its ...
ECONOMYNEXT –At least 10 Sri Lanka’s Members of Parliament (MPs) elected in the 2020 general elections are not anymore the legislature, either due to death or resignation or legal issues, official data showed. With the latest death of ruling Sri Lanka Podujana Peramuna (SLPP) legislator K H Nandasena (69 years) on Thursday (04), Parliament has […]
Sri Lanka anticipates the third tranche of the International Monetary Fund (IMF) extended fund facility by June, according to State Minister of Finance Shehan Semasinghe. However, the country must first obtain consensus from the country’s creditors on restructuring its debt. “We anticipate the third tranche by June. That’s the standard procedure. After a review, there’s […]
by Rex Clementine This year marks the 25th anniversary of the appointment of the first ever Cricket Interim Committee. Ironically, the man who was chosen to Chair that committee, although a keen follower of the game, had little experience in its administration. Rienzie T. Wijetilleke is his name. Orders to appoint Wijetilleke, then the Chairman […]
Takeo Konishi, the Director General of South Asia Department of the Asian Development Bank (ADB) has called on Sri Lanka s Minister of Power Energy Kanchana Wijesekera.
Mr. Rajith Keerthi Tennakoon, President Director General of Community Affairs, stated that between President Ranil Wickremesinghe’s assumption of office and February 2024, the Government of Sri Lanka has settled a total of US$ 1909.7 million in foreign debt and interest payments.The post Sri Lanka settles $1.9 Billion in Foreign Debt and Interest Payments: Official Statement appeared first on ONLA...
Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank’s latest bi-annual update. The Sri Lanka Development Update, Bridge to Recovery, highlights that […]
According to sources familiar with the matter, Bloomberg reports that global investors and officials from Sri Lanka are expected to convene for a second round of discussions with the aim of restructuring $12 billion in defaulted global bonds later this month.The post Global investors and Sri Lanka officials set for second round of Bond Restructuring talks appeared first on ONLANKA - Sri Lanka Late...
Recognising DFCC Bank’s exceptional efforts to further financial inclusion through digital innovation, the bank was honoured with the Gold Award for Financial Institution of the Year for Financial Inclusion – Category C, at the recently concluded LankaPay Technovation Awards. In addition to this prestigious accolade, DFCC Bank also received the Merit Award for Best Common […]
Sri Lanka has dismissed the statements coming out of India on “reclaiming” Katchatheevu island, stressing that such claims have “no ground”. The country’s Minister of Fisheries, Douglas Devananda, while dismissing the claims said: “It is not unusual to hear the noises of claims and counterclaims about Katchatheevu island during the election season in India.” His...
The Central Bank of Sri Lanka (CBSL) has announced that Sri Lanka’s official reserve assets increased by 9.5% in March 2024.The post Sri Lanka’s official reserve assets increase by 9.5% in March appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Rajith Keerthy Tennakoon Director General of Community Affairs at the President’s Office delivering a special media statement today (05) stated that between the assumption of office by President Ranil Wickremesinghe and February 2024, the Government of Sri Lanka has settled a total of US$ 1909.7 million in foreign debt and interest payments. He also highlighted […]
The Central Bank of Sri Lanka (CBSL) says Sri Lanka s official reserve assets have recorded an increase of 9.5% in the month of March 2024.
A treasure trove of leaked documents from a Chinese state-linked hacking group, namely I-Soon, has signalled the alarming activities of Beijing’s intelligence and military groups in attempting large-scale, systematic cyber intrusions against foreign governments, companies and infrastructure. GitHub leak on 16 Feb 2024 has provided a first-of-its-kind look at the internal operations of this Shangha...
The number of scams in Singapore hit a record high in 2023, Home Minister K Shanmugam said, adding that the country saw a rise of 18 percent in duping cases against migrants, many of whom are from India and Sri Lanka.The post 500 maids in Singapore duped in 2023 are from India, Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Enhancing customer experience and convenience with Digital Banking Services Union Bank launched its first Digital Zone at the Bank’s Head Office located in Colombo 03 providing customers with 24/7 Smart Banking. As part of the Bank’s digital transformation strategy and extending convenient and seamless banking services the Bank will roll-out digital zones in several strategic […]
[…]The post Brahmins Demand A Debate On Debt appeared first on Colombo Telegraph.
[…]The post Katchatheevu Crisis – Seal The Deal Mr. Modi appeared first on Colombo Telegraph.
By Saman Indrajith Around 75,000 Sri Lankans have left for overseas jobs during the first three months of 2024, the Sri Lanka Bureau of Foreign Employment (SLBFE) says.SLBFE said yesterday (04) that 74,499 Sri Lankan workers had left for foreign employment, and 46 percent of them were women. There has been a slight drop in […]
By Lynn Ockersz ‘Sri Lankans are very good at writing plans but nothing very positive has resulted from these efforts over the years. Nevertheless, the country needs a new system of planning and an essential requirement for this is a sound institutional framework coupled with good governance, chairman of the Gamani Corea Foundation (GCF) and […]
Sampath Bank PLC, a leading private bank in Sri Lanka, is pleased to announce the appointment of Keith Modder as an Independent, Non-Executive Director, effective April 2, 2024. Modder brings with him over three decades of invaluable experience in global business leadership, spanning the United States, Europe, the Middle East, and the Asia Pacific regions. […]
Minister of Transport, Highways and Mass Media, Dr. Bandula Gunawardena, has stressed that any alteration, even as small as one-tenth, to the on-going government program spearheaded by President Ranil Wickremesinghe could pose a significant threat to the stability of the country once more. Despite numerous reports indicating an increase in poverty among the country’s most vulnerable, the minister ...
In the midst of rising tensions between Islamabad and Kabul, the Defense Minister of Pakistan has issued a stern warning to the Taliban government in Afghanistan. Khwaja Asif, in an interview with Voice of America on March 20, hinted at the possibility of Pakistan blocking the trade corridor that facilitates goods flow between Afghanistan and […]
Sri Lanka’s Cabinet of Ministers has given approval for amending the existing Prevention of Domestic Violence Act and presenting a new bill to Parliament in this regard.The post Sri Lanka set to introduce New Bill combatting Domestic Violence appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Money, exchange rates, and money printing are crucial components of a nation’s monetary policy framework, wielding significant influence over economic and financial stability. This intricate relationship between these fundamental factors directly affects financial and economic dynamics. I am going to examine the nexus between these factors, clarifying their roles in the financial system and ...