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The Central Bank of Sri Lanka (CBSL) says the Banking Act directions made by its Monetary Board on cash margin deposit requirements against imports have been revoked.
The Bank succeeded in raising Rs 10 Bn in Tier 2 capital via a debenture issue in February 2023. Despite the depressing economic outlook in the Country, the issue was oversubscribed – a testament to the investor confidence placed in Sampath Bank and widespread acceptance of the stability and prudent governance of the Bank. The […]
- People’s Leasing 1Q revenues up by 27% to Rs. 4.36 b (Category: Business)
- DFCC Group posts Rs. 702 m after tax profit in 1Q (Category: Business)
- COMBank’s 1Q pre-tax profit up 40% to Rs 4.145 b (Category: Business)
President Ranil Wickremesinghe, during a meeting with Ministry Secretaries and Provincial Chief Secretaries, expressed confidence that the proper implementation of the government’s policy program would lead to economic prosperity surpassing the goals set by the International Monetary Fund. He stressed the need for collective effort to address the concerns raised by the youth regarding the […...
- Orientation to ministry secretaries on tasks ahead (Category: Breaking News)
- Failure in delivering funds (Category: Breaking News)
- Secretaries appointed to new Ministries (Category: Breaking News)
- District Secretaries as govt. agents (Category: Breaking News)
[…]The post Central Banks Have A Critical Role To Play During Times Of Financial Crisis appeared first on Colombo Telegraph.
- Ministry Of Finance, Economic Stabilization & National Policies (Category: Breaking News)
- CB To Launch A Diagnostic Audit Of Sri Lankan Banks; “Physician, Heal Thyself”! (Category: Breaking News)
- New CBSL Act – Monetary Policy – Interest Rates Et Al. (Category: Breaking News)
- Banks, Fitch Ratings, NPLs & Impairments! (Category: Breaking News)
By Shamindra Ferdinando Opposition spokesperson Prof. G. L. Peiris has alleged that two new laws that dealt with terrorism and corruption were meant to consolidate the Wickremesinghe-Rajapaksa regime. The former External Affairs Minister discussed the government’s agenda pertaining to the proposed Anti-Terrorism Bill and Anti-Corruption Bill. He said the Anti-Corruption Bill was actually meant to ...
- GL urges AG to ensure compliance with SC recommendations before Speaker certifies Online Safety ... (Category: Breaking News)
- Bid to use private member’s motion to put off LG polls alleged (Category: Breaking News)
- UNHRC concerned about constitutional jugglery to suppress Opposition: GL (Category: Breaking News)
- ‘Revenue raised from new taxes, too, will be robbed, wasted’ (Category: Breaking News)
India and Sri Lanka are exploring the possibility of using the Indian Rupee for economic transactions in order to strengthen their partnership through trade and investment-led measures. Recently, the High Commission of India organized a discussion in Colombo, on the use of the Indian Rupee for transactions between the two countries. Representatives from the Bank […]
- Indian tourists visiting Sri Lanka can pay in INR (Category: Breaking News)
- Indian Rupee not a legal tender in Sri Lanka for domestic payments (Category: Breaking News)
- RBI allows international trade settlement in Rupee (Category: Breaking News)
- RBI permits banks to open vostro accounts from 22 countries for trade in rupee (Category: Breaking News)
CPC, CEB need to recover costs until end of Fund’s loan package By Rathindra Kuruwita The Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) had to recover costs until the end of the IMF programme, Sarwat Jahan, IMF Resident Representative in Sri Lanka, told a press conference in Colombo yesterday. The IMF also wanted the […]
- Uncertainty over impending elections could risk Lanka’s economic recovery: ADB (Category: Breaking News)
- Lanka can be on path to recovery by 2024: IMF official (Category: Breaking News)
- New IMF funds for Sri Lanka may be delayed as review sees revenue shortfall (Category: Breaking News)
- More than a quarter of Lankans living in poverty – World Bank (Category: Breaking News)
Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, recorded positive consolidated revenues of Rs. 26.6 Bn for Q1 2023, an increase of 2.1%, compared to the same period last year, led by robust growth at company level from SLT, demonstrating resilience and optimism in the future undeterred by the challenging environment. The […]
- SLT Group stays resilient for Q3 overcoming external impacts (Category: Breaking News)
- SLT Group annual revenue surpasses Rs. 100 bn amid unprecedented challenges (Category: Breaking News)
- SLT Group annual revenue surpasses Rs. 100 Bn again (Category: Breaking News)
- SLT-MOBITEL reports marginal growth in Q1 2024 amidst cost optimization efforts (Category: Breaking News)
[…]The post 75 Years On: The Shameful Legacy Of The ‘Palestinian Nakba’ Continues! appeared first on Colombo Telegraph.
- Partial West & Shameful Muslim Leaders Complicit In Israel’s War Crimes In Gaza (Category: Breaking News)
- Merely Focussing On Hamas Attacks – Missing The Wood For The Trees! (Category: Breaking News)
- Middle East Conflict: Why We Should Support Israel? (Category: Breaking News)
- Gazan Fire Fuelled By Western Genocide Enablers With A Scrambled Moral Compass! (Category: Breaking News)
[…]The post Politics Of Poverty & Aswesuma appeared first on Colombo Telegraph.
- The Economy & Politics: A Reality Check (Category: Breaking News)
- Economic Realities & Political Promises (Category: Breaking News)
- Recovery, Growth & Toxic Imports (Category: Breaking News)
- Towards A False Dawn (Category: Breaking News)
by Norman Palihawadane Colombo Archbishop Malcolm Cardinal Ranjith said that there was no point Sri Lanka getting loans from World Bank or the International Monetary Fund if the people who handle those funds continue to be the fraudsters. Then the plight of the country and its people’s will remain the same. Delivering his homily at […]
- Cardinal asks whose Independence was celebrated yesterday (Category: Breaking News)
- Whose freedom are you celebrating? Â Cardinal (Category: Breaking News)
- Cardinal calls for enactment of law against those destroying country s flora (Category: Breaking News)
- Cardinal calls for enactment of law against those destroying country s flora (Category: Breaking News)
[…]The post Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century appeared first on Colombo Telegraph.
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
- Alternatives To The IMF & The Future Of The Welfare State: Beyond The Blame Game Between Superpo... (Category: Breaking News)
- IMF, Sri Lanka’s Resource Curse & Privatization Of The Central Bank (Category: Breaking News)
Colombo Archbishop Malcolm Cardinal Ranjith has said there is no point in Sri Lanka getting loans from the World Bank or the International Monetary Fund if the people who handle those monies continue to be the same fraudsters. Delivering his homily at the 125th Jubilee Mass, offered in the church, dedicated to St, Joseph at […]
- Orwellian Isle Ordeals (Category: Breaking News)
- Message from a Cell Death (Category: Breaking News)
- Post-Match Melancholia (Category: Breaking News)
- EC: Prez poll can’t be put off (Category: Breaking News)
Islamabad [Pakistan], April 28 (ANI): Amid a rise in inflation and a shortage of foreign exchange reserves, people in Pakistan have started to face difficulties in performing Haj, Pakistan vernacular media reported. The Haj quota is now available for the first time in Pakistani history, but fewer people are making the pilgrimage. Most Pakistanis are […]
- As economic situation looks gloomy in Pakistan, IMF advises strict measures (Category: Breaking News)
- Message from the JVP for Haj . (Category: Breaking News)
- Pakistan rules Gilgit-Baltistan with iron grip, treats citizens as second-rate: Report (Category: Breaking News)
- People can’t be left to mercy of miscreants: Nawaz Sharif slams PTI chief over long march (Category: Breaking News)
Sri Lanka President Ranil Wickremesinghe announced that Sri Lanka is establishing the world’s first international environmental university to support the global effort in addressing climate change.The post Sri Lanka President says World’s first international environmental university will be established in Sri Lanka appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News A...
- World’s first international environmental university will be established in Sri Lanka – President (Category: Breaking News)
- World s first int l environmental university to be established in Sri Lanka (Category: Breaking News)
- Will establish the world's first international environmental university in Sri Lanka (Category: Breaking News)
- Sri Lanka President meets UN Secretary-General in Egypt (Category: Breaking News)
Sri Lanka's creditor nations held their first meeting Tuesday to discuss restructuring the country's debt. But the largest creditor, China, stood by as an observer, raising doubts over the success of the process.The post Sri Lanka’s creditors hold 1st meeting, with China as observer appeared first on ONLANKA News ::. Latest Sri Lanka News with Breaking News Alerts from Sri Lanka.
- Sri Lanka’s creditor nations to meet despite uncertainty on China (Category: Breaking News)
- Japan seeks to organise Sri Lanka creditors’ meeting on debt crisis-sources (Category: Breaking News)
- Japan, India and France launch creditors meeting on Sri Lanka debt (Category: Breaking News)
- Japan, France and India to launch platform to coordinate Sri Lanka debt (Category: Breaking News)
The prevailing economic crisis dealt a huge blow to the country’s fisheries sector resulting in setbacks and decline of production thereby raising the retail prices of fish during last year, says the Central bank in its latest annual report. The seventy third Annual Report of the Monetary Board of the Central Bank of Sri Lanka […]
- Lanksa Sathosa slashes prices of five essential items (Category: Breaking News)
- CB announces further jump in inflation (Category: Breaking News)
- Government says no need to import eggs and chicken (Category: Breaking News)
- Fish Stalls open till late night for New Year (Category: Breaking News)
[…]The post People Called On To Play Direct Role To Sustain Democracy appeared first on Colombo Telegraph.
- Moral Justification For Protests To Continue (Category: Breaking News)
- Preoccupation With Repression Will Be Counter-Productive (Category: Breaking News)
- Elections Are The Democratic Way To Maintain Political Stability (Category: Breaking News)
- The Missing Ingredients To Come Out Of The Economic Rut (Category: Breaking News)
Pakistan's anti-graft watchdog arrested former Prime Minister Imran Khan at Islamabad High Court on Tuesday, in a dramatic move that threatens fresh turmoil in the nuclear-armed country.The post Former Pakistan Prime Minister Imran Khan arrested, aides call for nationwide protest appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- Former Pakistan Prime Minister Imran Khan shot and wounded in ‘clear assassination’ attempt (Category: Breaking News)
- Pakistani court releases Imran Khan on protective bail (Category: Breaking News)
- Pakistan ex-PM Imran Khan and wife jailed for 7 years for unlawful marriage (Category: Breaking News)
- Ex-Pakistan PM Imran Khan apologises in contempt of court case (Category: Breaking News)
By Shamindra Ferdinando The Opposition yesterday (08) lambasted Speaker Mahinda Yapa Abeywardena for what it called a move to disrupt the Committee on Public Finance (CoPF) ahead of the vote on a Bill titled ‘Central Bank of Sri Lanka.’ Top spokespersons for the Nidahas Janatha Sabhawa (NJS) Prof. G.L. Peiris, MP, and the main Opposition Samagi […]
- Speaker accused of being notorious for suspending Standing Orders (Category: Breaking News)
- Govt. causes split in SJB by appointing Mayantha as COPF head instead of Harsha (Category: Breaking News)
- Debt restructuring: Opp. won’t accept President’s assurances; COPF examines proposals (Category: Breaking News)
- Why does IMF ignore government’s authoritarian behavior, asks Harsha (Category: Breaking News)
[…]The post Inflation, Interest Rate & Imperialism appeared first on Colombo Telegraph.
- IMF Forecasts & Systemic Crisis (Category: Breaking News)
- RW’s National Policy & National Council (Category: Breaking News)
- Politics Of Easter Investigation In A Wriggling Economy (Category: Breaking News)
- Political Buddhism & Corruption: The Unholy Twins (Category: Breaking News)
Around 40 percent of Sri Lankans have resorted to livelihood-based coping strategies by reducing their spending on education and health owing to the current economic crisis, says the Central Bank of Sri Lanka, in its latest annual report. The 73rd Annual Report of the Monetary Board of the Central Bank of Sri Lanka released recently […]
- Transformation of agro-food system: (Category: Breaking News)
- Joint food security assessment by govt., FAO, WFP next month (Category: Breaking News)
- WFP finds 32 percent of Lankan households are food insecure (Category: Breaking News)
- Economic crisis takes its toll on education, DCS survey reveals (Category: Breaking News)
By Shamindra Ferdinando SLPP MP Gevindu Cumaratunga, now functioning as an independent, yesterday (07), said that it would be the responsibility of Parliament to ensure that amendments, recommended by the judiciary to a Bill titled ‘Central Bank of Sri Lanka,’ were duly incorporated. The National List MP said that the assurance given by Additional Solicitor […]
- Opposition alleges bid to mislead House (Category: Breaking News)
- Udaya to raise privilege issue against Speaker (Category: Breaking News)
- 13 A: Prez accused of abusing GR’s mandate (Category: Breaking News)
- Udaya alleges ‘CBSL’ Bill formulated outside Legal Draftsman’s Dept. (Category: Breaking News)
SJB and Opposition Leader Sajith Premadasa Wednesday told a Colombo meeting attended by several opposition parties and groups sharing common ground on forthcoming legislation that the proposed Anti-Terrorist law now moved to the back burner by the government endangered Sri Lanka’s entire 22 million population of being labeled terrorists. The meeting at the Mandarin Hotel […]
- Presentation of ATB to Parliament put off (Category: Breaking News)
- Following Presidential directive Wimal and Champika on an anti government campaign (Category: Breaking News)
- SLFP, SJB extend support for mass protest march in Colombo tomorrow (Category: Breaking News)
- Anti-Terrorism Act would be guided by highest court, says Justice Minister (Category: Breaking News)
Sri Lanka can be put on the path to prosperity if the debt can be made sustainable by implementing the IMF-supported program properly, the Director of Asia & Pacific Department of the IMF Krishna Srinivasan says.The post Sri Lanka can be on path to prosperity if debt sustainability achieved – IMF appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
- IMF confident Sri Lanka can be put on the path to prosperity (Category: Breaking News)
- Sri Lanka can be on path to prosperity if debt sustainability is achieved - IMF (Category: Breaking News)
- IMF does not support providing subsidies to everyone in Sri Lanka (Category: Breaking News)
- IMF board poised to approve $2.9 billion Sri Lanka bailout (Category: Breaking News)
Sri Lanka expects to host 1.55 million visitors and earn 2.7 billion Sri Lankan rupees ($8.4 million) in much-needed tourism revenue this year, as it maps a road to the recovery of its tourism sector amid its worst economic crisis in decades.The post Sri Lanka expects cash infusion from 1.5 million tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
- Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy (Category: Breaking News)
- Indian cruise ship to launch operations to Sri Lanka (Category: Breaking News)
- Analysis: A year later, Sri Lanka’s tentative economic recovery eludes the poor (Category: Breaking News)
- Tourist arrivals in Sri Lanka cross 200,000 in December (Category: Breaking News)
Saturday 6th May, 2023 One of the main reasons for Sri Lanka’s current economic crisis is that successive governments have invested borrowed money in white elephant projects and enabled their leaders to pocket kickbacks at the expense of the state coffers. The situation took a turn for the worse, on President Mahinda Rajapaksa’s watch, with […]
- China’s role in Lanka’s economic crisis (Category: Breaking News)
- Delhi air quality remains ‘very poor’ at 337 AQI (Category: Breaking News)
- Ferry service connecting all SL ports to India proposed (Category: Breaking News)
- Mattala Main Runway completed (Category: Breaking News)
By Shamindra Ferdinando Jathika Nidahas Sabhawa Spokesperson Prof. G. L. Peiris, MP, Tuesday (02) questioned the conduct of the Attorney General Sanjay Rajaratnam, PC, pertaining to obtaining compensation for the worst ever marine disaster, caused in Sri Lankan waters, following the sinking of container carrier X-Press Pearl, in the first week of June 2021. Rajaratnam […]
- IMF not paying sufficient attention to corruption: GL (Category: Breaking News)
- Bailout and corruption (Category: Breaking News)
- ‘Indian complicity’ in Easter Sunday carnage: Sirisena must prove his accusation – GL (Category: Breaking News)
- Of that sinister plan (Category: Breaking News)
Thursday 4th May, 2023 Government politicians, save perhaps a few, and their backers are still cock-a-hoop over the IMF bailout which they naively think is a kind of economic panacea. They went so far as to paint the town red when the IMF approved the much-awaited extended fund facility, in March, lighting as they did […]
- Cabinet nod for President’s proposal to make Parliament underwrite foreign investment agreements (Category: Breaking News)
- Hot Hand (Category: Business)
- Sirisena boasts of his successful foreign policy to current rulers (Category: Breaking News)
- Prez: Cumbersome investment laws to be revised to make country attractive to investors (Category: Breaking News)
By Rathindra Kuruwita Sri Lanka had not taken a final decision on domestic debt restructuring, Cabinet spokesperson Bandula Gunawardena said on Wednesday. Addressing the media in Colombo, he said that the government was discussing with economists and other stakeholders ways and means of restructuring the domestic debt. Gunawardena said Sri Lanka had not even finalised […]
- Foreign debt restructuring not feasible without domestic debt restructuring  Fin. Sec. (Category: Breaking News)
- Inland Revenue and Appropriation Acts to be amended in line with debt restructuring (Category: Breaking News)
- Govt. still undecided about domestic debt restructuring methods (Category: Breaking News)
- Sri Lanka’s domestic debt won’t be restructured – CBSL Governor (Category: Breaking News)
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