The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor that is contributing to the current crisis and the resultant hardships is the lack of foreign exchange liquidity in the banking system. Such shortage of […]

Sri Lanka’s No. 1 Bank, Bank of Ceylon, marks its 83rd Anniversary today. The Bank will celebrate the occasion beginning with a multi-religious ceremony at the Bank’s Head Office with the participation of distinguished guests comprised of customers and well- wishers. The event will be held with the patronage of the Bank’s Chairman, Kanchana Ratwatte, […]

“Tyrannical governments and illegitimate leaders throughout history have led their societies to destruction” The Federation of University Teachers (FUTA) says that the Wickremasinghe-Rajapaksa government lacks any legitimacy and it should stop taking cover behind the Constitution.In a statement condemning what it termed as “repression of aragalaya activists by the current regime&...

We need to only remind ourselves of what happened to Greece and China (KMT) - D S Sennayake

He has over 23 years of experience in the banking sector

AL Jazeera) Some Asian central banks must rapidly raise interest rates to prevent an “upward spiral” in inflation as the war in Ukraine drives surging fuel and food prices, an International Monetary Fund (IMF) official has said. While inflation in Asia remains “moderate” compared with other regions, several economies will have to act quickly to […]

Anthony Nihal Fonseka has been reappointed as a member of the Monetary Board of the Central Bank of Sri Lanka (CBSL) with effect from 27 July 2022 for a period of six years. Previously, he served on the Monetary Board from July, 2016 to May 2020 and from May 2022 to July 2022. He obtained […]

Sri Lanka's rupee fell sharply in the June quarter

Selective default rating and forex shortages makes it impossible to issue guarantees

By Shiran Ranasinghe and Sanath Nanayakkara The Ceylon Petroleum Corporation (CPC) has still not paid for a ship carrying 40,000 tonnes of diesel that had arrived in Colombo Port on 16 July 16. The CPC has to pay 52 million dollars to the Dubai based Coral Energy before unloading the diesel. Moreover, the CPC also […]

Chinese financial institutions have reached out to Sri Lanka and had shown full readiness to find a way to handle the matured Chinese loans and help Sri Lanka to overcome the difficulties, Chinese Foreign Ministry Spokesperson Zhao Lijian said during his Regular Press Conference in Beijing. Lijian made this statement in response to a question […]

By Rathindra Kuruwita Emergency regulations were against the Constitution of the Sri Lanka SLPP founding Chairman Prof. G.L Peiris told the media yesterday. That would boomerang on Sri Lanka in the United nations Human Rights Council (UNHRC) session in Geneva soon, he warned. Prof. Peiris said that due to the Emergency regulations approved by Parliament on […]

Newspapers, TV programmes and video presentations have been dealing with the terrible incident that occurred in the premises of the Presidential Secretariat and on the steps leading to it, at predawn on Friday 23 July. Cassandra feels compelled to present her opinion though it is one week from that day. Experts have dissected it and […]

British Politics and Ours Both Sri Lanka and the UK have experienced an unprecedented political upheaval of late. It is interesting that both leaders agreed to resign within a day of each other. Everybody else saw the ‘the end is nigh’ sign for quite a while. They didn’t or didn’t want to see it until […]

By Uditha Devapriya Archive images courtesy of the J. R. Jayewardene Centre The role of the journal in the Buddhist Revival in British Ceylon has never been seriously examined by scholars. Most historical accounts trace the origins of a Buddhist press to the late Dutch and early British periods. The growth of print capitalism held […]

New govt dominated by Rajapaksa linked party

The Foreign Ministry announces with deep sorrow the passing away of Mr. Moragodage Christopher Walter Pinto, famously known as Mr. Chris Pinto, on 21 July, 2022, in the Hague, Netherlands. Mr. Pinto was the first Legal Advisor of the Ministry of Foreign Affairs who established the Legal Division of the Ministry in 1967. Mr. Pinto […]

President Ranil Wickremesinghe and the government were planning to impose the most draconian Emergency regulations in the post-independence history and they would further diminish the country’s chances of receiving assistance from the international community, Education Secretary of the Frontline Socialist Party (FSP) Pubudu Jagoda, said yesterday.Jagoda said the Emergency passed in Parliament woul...