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Sri Lanka's central bank on Thursday threatened administrative intervention to control high market interest rates that it regarded as out of line with the inflation outlook.The post Central Bank of Sri Lanka threatens administrative measures over high market interest rates appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka’s gross official reserves were estimated at US dollars 1.7 billion as of end October 2022, including the swap facility from the People’s Bank of China, equivalent to around US dollars 1.4 billion, which has certain conditionalities on usability, the Central Bank of Sri Lanka said today. The Central Bank said that the merchandise […]
By Ramesh Khan At the beginning of the year 2022, none in Sri Lanka would have thought that the end of the pandemic would not signal the end of misery. Instead, it signaled the advent of misery in forms that had been unknown to the Sri Lankans until now. A country filled with tourist spots, […]
Sri Lanka briefed the European Parliament on discussions to establish a suitable Truth and Reconciliation Commission (TRC) model. A multi-party delegation from the Parliament of Sri Lanka and the Delegation for relations with the countries of South Asia in the European Parliament (DSAS) conducted a productive virtual dialogue, the Foreign Ministry said today. The respective […]
The Overall rate of inflation as measured by the National Consumer Price Index (NCPI) on a Year-On-Year basis was 70.6% in October 2022, compared to 73.7% in September 2022.The post Sri Lanka’s inflation slows down to 70.6% in October 2022 appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
People’s Bank recently entered into an agreement with the National Investment Industrial Bank in Russia to facilitate anovel remittance mechanism that enables efficient and convenient fund transfers from Russia to accounts in Sri Lanka. According to this arrangement, beneficiaries in Sri Lanka, especiallyservice providers, exporters etc. will be able to receive fundsquickly and cost effectively. [...
Sri Lanka is to promote white water rafting and other adventure sports in the country. President Ranil Wickremesinghe, in his budget speech, said that various new programs have been introduced in several countries to attract tourists. However, he said there is a lack of approach to develop maritime tourism considering advantages of the location of […]
Sri Lanka unveils a budget on Monday attempting to put the South Asian government's finances in order, with reforms to advance a $2.9 global billion bailout from the island's worst financial crisis since independence in 1948.The post Sri Lanka budget to seek recovery for crisis-hit economy appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
By Amal Jayasinghe Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country’s airline top of the list for reform.With nearly 6,000 staff, SriLankan Airlines is the biggest and most expensive of the cash-haemorrhaging, sclerotic […]
By MAHADIYA HAMZA ECONOMYNEXT – Sri Lanka’s tourism revival is facing a challenge in bringing in more high spending foreign visitors due to increasing protests locally while monetary tightening, impacts of Russian invasion into Ukraine, and rising inflation globally.The move is likely to slow the island nation’s recovery from the unprecedented economic crisis as it is […]
Edelweiss/Swiss International Air Lines, a member of the Lufthansa Group, resumed direct nonstop flights from Switzerland to Sri Lanka today. The inaugural flight from Zurich to Colombo, LX 8068, arrived in Sri Lanka with 125 passengers. The passengers were warmly welcomed by a traditional Kandyan dance performance and presented with tea gift packs sponsored by […]
Dozens of state-owned Sri Lankan companies employing tens of thousands of people could be restructured or closed as part of an IMF bailout of the bankrupt country, with the country's airline top of the list for reform.The post Turbulence ahead: Airline on the block in Sri Lanka reforms appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Tourism Minister Harin Fernando appealed to international travellers to add Sri Lanka to their travel wish list, assuring tourists are cushioned from the economic shocks the country is undergoing, and that they will be well looked after.The post Hospitality doesn’t die just because inflation is high – Harin appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA ...
[…]The post Legitimate Demands Of Protestors Need To Me Met appeared first on Colombo Telegraph.
by Jehan Perera The mass protest in Colombo by a large collective of trade unions, student movements, opposition political parties and social activists failed to make an impact. The government had made its own preparations which were more cohesive than those of the protesting groups. They were met with a mobilization of police forces who […]
By introducing innovative Made in India defence items, India has surmounted yet another technological challenge in the global defence industry. PM Narendra Modi inaugurated DefExpo 2022, which showcased the prowess of the Indian defence industry and was held in Gandhinagar, Gujarat, from October 19 to 22. At this exhibition of Indian defence technology, a three-member […]
At least 5.7 million people (26% of the population) in Sri Lanka require humanitarian assistance at the moment, the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) says.The post At least 5.7 Million people in Sri Lanka require humanitarian assistance – UN agency appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
The Police have warned that it will crackdown on the mass protest scheduled to be staged in Colombo today (Wednesday). According to reports, the Police have issued letters to the protest leaders today saying they have not been given permission to go ahead with the protest. The protesters are expected to stage a walk and […]
Several Business Chambers in a joint statement noted with concern that some organizations have called for mass protests on 2nd November. While recognizing their freedom of speech and right to express views, the Chambers requested all parties to call off protests of this nature that could undermine the efforts being taken to resolve the current […]
The fifth edition of Race The Pearl, a 24-hour race that covers the entire length of 600 kilometres of Sri Lanka from top to bottom, will take place on the 5th of November, 2022. Setting off from Point Pedro to Dondra Head. Race The Pearl will see ten cyclists – one from the United States […]
Prime Minister Dinesh Gunawardena states that the direct contribution of governors and provincial council officers and former public representatives is essential for the success of the rural economic revival and food security programme.The post We should go beyond the traditional systems to earn more foreign income – Prime Minister appeared first on Sri Lanka News - Latest Breaking News in S...
A new “wellness village” hospital is to be constructed adjacent to the Biyagama Hospital. A discussion on the acquisition of land for the construction of the new hospital was held at the Presidential Secretariat under the patronage of Presidential Adviser on Climate Change, Ruwan Wijewardene. Based on a concept of President Ranil Wickremesinghe, the wellness […]
Rex Clementine in Sydney Imagine the International Cricket Council or Cricket Australia saying to the Sri Lankan captain you can play two games of the World Cup at one venue and you can even chose that venue. A number of skippers from Arju to the incumbent would opt for Sydney Cricket Ground. Not because Sydney […]
[…]The post How Lanka Can Benefit From A Global Recession appeared first on Colombo Telegraph.
[…]The post Why The Aragalaya Is The Only Solution For Sri Lanka appeared first on Colombo Telegraph.
Japan is working to organise a meeting of Sri Lanka’s creditors by the end of this year in hopes of solving that country’s debt crisis, the Japan News (By Yomiuri Shimbun) has learned.The post Japan to organize Sri Lanka creditors’ meeting by year-end – report appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Japan is working to organize a meeting of Sri Lanka’s creditors by the end of this year in hopes of solving that country’s debt crisis, The Yomiuri Shimbun has learned. The meeting, which will discuss such issues as finding ways to reduce debt payments, aims to curb China’s influence by helping Sri Lanka cope with […]
[…]The post Go Set A Watchman appeared first on Colombo Telegraph.
Trincomalee District Strategic Development Plan is not targeting elections, but a project that has been initiated to benefit future generations, Sri Lankan President Ranil Wickremesinghe said.The post Trincomalee District Strategic Development Plan not targeting elections, but a project to benefit future generations – President appeared first on Sri Lanka News - Latest Breaking News in Sri L...
Sri Lanka is to work with India to make Trincomalee an energy hub, President Ranil Wickremesinghe said. President Wickremesinghe said that the Trincomalee District Strategic Development Plan is not targeting elections, but a project that has been initiated to benefit future generations. He said that Sri Lanka values India’s assistance in implementing the Trincomalee District […]