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Nomura Holdings Inc, Japan's top brokerage and investment bank, has warned that seven countries – Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary – are now at a high risk of currency crises.The post Nomura warns seven emerging economies including Sri Lanka face currency crisis danger appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Sri Lanka's central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9 billion International Monetary Fund (IMF) bailout to stabilise its crisis-hit economy.The post Sri Lanka to hold rates as inflation slows slightly, focus on IMF bailout appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA Ne...
At a time when enhancing profitability of public enterprises is an urgent need to boost the national economy of Sri Lanka, the revival and turnaround of Gal Oya Plantations (formerly known as Hingurana Sugar factory) by LOLC is an embodiment of how the nation’s assets can be enhanced through professionalism and expertise by the private […]
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, […]
In a bid to create even more value for its customers, Amana Takaful Insurance has joined hands with Sri Lanka’s No.1 Lifestyle Savings App, SLASH, to provide an exclusive 20% discount on yearly and monthly SLASH plans for its customers. SLASH is Sri Lanka’s first and leading lifestyle savings app that allows customers to access […]
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.
By N Sathiya Moorthy At a time when India, Sri Lanka and Maldives are fighting international drug menace jointly and severally, comes President Ranil Wickremesinghe’s budget that has proposed legalising cannabis cultivation. The idea is to help boost farm-produce (?) exports and forex reserves, which are at the lowest level since the economic crisis hit […]
By Shamindra Ferdinando General Secretary of the Democratic Left Front (DLF) Vasudeva Nanayakkara, MP, yesterday (20) said that the UNP had sold the urea plant at Sapugaskanda to a foreign buyer who set it up in an Arab country.Having brought the machinery as scrap iron the buyer had re-installed the machinery and today Sri Lanka […]
By Saman Indrajith Opposition and SJB Leader Sajith Premadasa told Parliament on Saturday that the members of a gang that had committed the Treasury bond scams were trying to secure key positions in the Central Bank of Sri Lanka. Premadasa said that nobody involved in the Treasury bond scams should be given any post in […]
[…]The post National Council’s Economic Stabilisation Report Is A Welcome Sign appeared first on Colombo Telegraph.
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. [...
Two women have been arrested by the Criminal Investigations Department (CID) for forging bank documents and defrauding Rs. 120 million from a Sri Lankan living in Norway.
[…]The post How We Came To This Pass – Waiting On IMF appeared first on Colombo Telegraph.
A delegation of the China Development Bank (CDB) is currently in Sri Lanka.The delegation has met the State Minister of Finance Shehan Semasinghe and held discussions on debt related concerns. “This is a working level delegation and such communications by different Chinese financial institutions with Sri Lankan officials have taken place since April,” a Chinese […]
Banks have been instructed to provide relief to those affected by the increase in bank interest rates for the loans taken - Governor of the Central Bank of Sri Lanka tells in Parliament.
A discussion was held today (17) at the Ministry of Finance with World Bank representatives on Sri Lanka s future development plans and policies, the President Media Division said.
A discussion was held today (17) at the Ministry of Finance with World Bank representatives on Sri Lanka's future development plans and policies under the patronage of Mr Sagala Ratnayake, Senior Advisor to the President on National Security and Chief of Staff to the President, State Minister of Finance Shehan Semasinghe and Minister Dilum Amunugama with the World Bank Director for Sri Lanka Faris...
Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide clarifications sought by the country's creditors, its state minister of finance said.The post Sri Lanka postpones debt restructuring talks, hopes for IMF deal in December appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ...
The Governor of the Central Bank of Sri Lanka Dr. P. Nandalal Weerasinghe stated that customers who have been inconvenienced due to the increase in the interest rates charged for the loans obtained under variable interest rates in the past are able to get relief by negotiating with the bank.
A working team of the China Development Bank (CDB), an important supporter of Sri Lanka s development, is currently on a visit to Sri Lanka.
[…]The post Economic Bankruptcy & Political Instability appeared first on Colombo Telegraph.
[…]The post Unmasking The Likes Of Cabraals; A National Imperative! appeared first on Colombo Telegraph.
[…]The post Olcott Oration 2022 Keynote Speech Ten Years Too Late! appeared first on Colombo Telegraph.
By Saman Indrajith Sri Lanka was the only country in the world to have waited until it ran out of foreign reserves to seek IMF assistance, SJB MP Patali Champika Ranawaka told Parliament yesterday. Participating in the Second reading debate on the 2023 Budget, Ranawaka said: “The World Bank officials too have said so. According […]
Bank of Ceylon has reported a Rs. 27.5 billion Profit before Tax (PBT) for the nine-month period ended September 30, 2022 as per its unaudited quarterly financials. This performance was achieved despite many headwinds caused by unforeseen challenges which erupted in the economic and social landscape during the period. Despite never before experienced economic and […]
The governor of Central Bank of Sri Lanka (CBSL) says the construction sector is unlikely to see growth until the economy recovers.
The Group of 20 major economies are likely to take note of the impact debt issues was having on countries like Sri Lanka. Reuters reported that the leaders of the Group of 20 major economies will express concern about the “deteriorating debt situation” facing some vulnerable middle-income countries, and call on all official and private […]
Sri Lanka needs to implement budget proposals and reform measures to start earning crucial foreign exchange to help stabilise its economy and ensure it does not return to crisis, its central bank chief said on Tuesday.The post Sri Lanka must implement budget proposals to avoid return to crisis appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
Governor of the Central Bank of Sri Lanka (CBSL ), Dr. Nandalal Weerasinghe says Sri Lanka was able to avoid a crash landing of its economy and turn it into a soft landing but on a lower point.
The Governor of the Central Bank of Sri Lanka (CBSL) says the Budget 2023 concentrates on recovering the economy and how to stabilize it moving forward.The post CBSL governor says 2023 Budget focuses on economic recovery and stability appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.