Former Finance Minister Miftah Ismail while speaking at Habib University stated that Pakistan’s economy suffers from three fundamental problems, i.e. living beyond its own means, focusing on import substitution instead of export growth and granting ‘elite bargain’, under which essentially 99% of the population continues to work for the privileged ones. He also lamented the […]

Indian shoppers are back in force online and in stores, splurging this festive season after the coronavirus pandemic damped celebrations and consumption in previous years. Online marketplaces Amazon.com Inc., and Walmart Inc.-owned Flipkart saw sales jump 27% from a year ago to $5.7 billion during the festival season’s first sale between Sept. 22-30, consulting firm […]

Sri Lanka’s worst post-war economic crisis represents a major blow to the country’s progress towards achieving the United Nations’ Sustainable Development Goals (SDGs), efforts that were already hobbled by the COVID pandemic. However, the situation is also providing impetus to the work of academics that are using their knowledge to tackle the immediate fallout from […]

The Financial Action Task Force (FATF) removed (October 21) Pakistan from its “grey list” after more than four years. The multilateral watchdog said Islamabad would continue its work to further improve systems to combat terror financing and money laundering. At the conclusion of FATF’s two-day plenary meeting in Paris, the body’s president, T. Raja Kumar […]

With the economic situation looking gloomy in Pakistan and the country being downgraded by Fitch and Moody, the International Monetary Fund has called on the nation to impose additional taxes worth PKR 600 billion, reported Express Tribune on Tuesday. The IMF has estimated that Pakistan may have to take additional revenue measures equal to 0.75% […]

Rupee average rose to as much as 1676.93 rupees a kilo in the first week of October.

Sri Lanka has not approved cryptocurrencies yet

By Rathindra Kuruwita Hospitals were experiencing a shortage of 160 essential medicines, Deputy Director General – Medical Supplies, Dr. D. R. K. Herath , told the media in Colombo, yesterday. There were 383 drugs in the essential category, he said. “We use 383 essential medicines and there is a shortage of 160. We hope wellwishers […]

Top losers were Lanka IOC, Browns Investment and Sampath Bank

The Bangladesh Bank, the central bank of Bangladesh, has instructed banks in the country to refrain from transactions with Sri Lanka through the ACU system, foreign media reported.

The Asian Infrastructure Investment Bank (AIIB), in its annual financial report, has outlined a fund of USD 100 million for crisis-hit Sri Lanka.

Quality of public buses is low - except on expressways - due to regulated pricing and a rigid licensing system.

By Sanath Nanayakkare It was encouraging to see the benefits of effective supply chain management had enabled the end-consumer to buy quality fresh produce and other essential food products at reasonable prices, today, compared to decades ago, Central Bank Governor Dr. Nandalal Weerasinghe said at Akuregoda, Pelawatte yesterday. The Governor said so delivering the keynote […]

Thursday 27th October, 2022 The biggest problem ordinary Sri Lankans are grappling with, amidst the national feeling of doom and gloom, is keeping the wolf from the door. Besides, the state coffers are empty and foreign currency reserves extremely low. The country continues to be mired in debt with no prospect of recovery in the […]

* Sources fresh fruits and vegetables from a network of over 5,000 farmers * Contributes over 14% of the national milk production * Expanding network generates thousands of livelihood opportunities by Sanath Nanayakkare The home-grown Sri Lankan brand, Cargills Food City, marked another milestone yesterday with the opening of its 500th retail outlet in Akuregoda, […]

Only 69bn rupees out of 80 billion sold

"Do not increase taxes for IT, or for tourism," said Premadasa.

The Colombo Magistrate s Court has ordered the overseas travel ban imposed on the former Governor of the Central Bank of Sri Lanka (CBSL), Ajith Nivard Cabraal to be extended until November 24.