Less than a month after being named party chief of China s central bank, Pan Gongsheng has further solidified his oversight of the monetary authority by being elevated to bank governor  placing him in a critical role to address financial risks and growth momentum in the world s second-largest economy.

China has removed Qin Gang as foreign minister less than seven months after he was appointed to the post. Qin Gang  had been seen as a close associate of President Xi Jinping. He is replaced by veteran Communist Party foreign affairs chief Wang Yi. Qin’s prolonged disappearance from public view – and official silence over […]

By Rathindra Kuruwita Annual elephant deaths have increased fourfold by this year, compared to 1969, according to official data, environmentalists say. Sajeewa Chamikara of the Movement for Land and Agricultural Reform (MONLAR) has said the number of elephants killed in the 19 years from 1951 to 1969 was 1,163. This works out to about 61 […]

The Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to enter into an agreement with the international development tribunal of the World Bank Group in order to obtain a loan grant of USD 200 million for the Aswesuma welfare benefit […]

The Cabinet of Ministers has granted approval to enter into an agreement with the International Development Association of the World Bank Group in order to obtain funding for the implementation of a project to strengthen the social security system in Sri Lanka.

by Sanath Nanayakkare The dip in government borrowings following the completion of the Domestic Debt Optimization (DDO) will become an impetus for private sector credit growth in time to come, Central Bank Governor, Dr. Nandalal Weerasinghe said in Colombo recently. The Governor made this remark last Friday while delivering the keynote speech at the Chartered […]

Monday 25th July 1983 began like just another day. But what we didn’t know was that it was to be the last day of an era. By mid-morning from my second-floor office in Fort I could see the city being put to the torch. Already my two sisters’ homes in the suburbs had been attacked […]

Tuesday 25th July, 2023 There is a widely-held misconception that Sri Lanka is a land where every prospect pleases, and only politicians are vile. The less said about politicians, the better; suffice it to say politics is a stinking swamp that has to be drained if the country is to achieve any progress, but the […]

Jawaharlal Nehru University facilitates talk on ‘structural genocide’ By Shamindra Ferdinando SLPP MP retired Rear Admiral Sarath Weerasekera yesterday (24) accused Canadian High Commissioner Eric Walsh of backing those propagating separatist sentiments. The former Public Security Minister, who is also the Chairman of the Parliamentary Oversight Committee on National Security, claimed that the HC’...

The Sri Lankan Rupee registered slightly firmer against the US Dollar today (24), as per the figures of the Central Bank of Sri Lanka (CBSL).

By Shamindra Ferdinando Manohara de Silva, PC, yesterday (23) said that the government owed an explanation regarding a presidential pardon for two LTTE cadres serving jail terms for one of the worst atrocities perpetrated by the LTTE outside the Northern and Eastern provinces during the war. Saying that he didn’t object to presidential pardon under […]

Islamabad [Pakistan], July 19 (ANI): Beyond the upcoming election cycle and the current standby agreement, Pakistan needs another International Monetary Fund (IMF) program and assistance from other multilateral lenders, the lender stated in a report released on Tuesday, according to Dawn. “Resolving Pakistan’s structural challenges, including long-term BOP [balance of payments] pressures, will req...

Sri Lanka is considering the possibility of allowing the use of the Indian rupee for local transactions, as the island nation struggles to build its depleted foreign reserves and to emerge from last year s unprecedented economic crisis.

The West Indies batters chipped away at the deficit in a patient manner but timely strikes from the Indian bowlers put the visitors in a position of advantage at the end of a rain-hit Day 3 of the second Test in Port of Spain. Kraigg Brathwaite’s 235-ball 75 led West Indies’ watchful approach but the […]

The rupee will move in both directions and will not be a “one-way bet” under a flexible exchange rate regime, Economynext has quoted Central Bank Governor Nandalal Weerasinghe as saying Banks are now collecting dollars to cover their positions on a debt exchange, Governor Weerasinghe told a forum organized by Chartered Financial Analysts Society in […]

The death occurred on Thursday of Mr. Merrill. J. Fernando, 93, among the country’s leading business personalities and a self-made billionaire who earned for himself the reputation of ‘Teamaker’ by building his Dilmah brand, among the best known nationally owned brands of Ceylon tea. Fernando was uncompromising in his life-long battle to preserve the image […]

The former LTTE members, who were found guilty of the bomb attack on the Central Bank of Sri Lanka (CBSL) on 31 January 1996 which killed 91 individuals, have been granted presidential pardon.

Governor of the Central Bank of Sri Lanka (CBSL) has urged licensed commercial banks to take immediate measures to adequately reduce lending rates in view of the recent reduction of policy interest rates.

Beijing [China], July 14 (ANI): Kenya has joined the list of countries that are getting a reality check after trusting China for development assistance, and later finding itself in the trap with its public services under the ambit of Beijing-based companies, Inside Over reported. It is known fact that China is using its growing capital […]

China is drilling a new 10,000-metre-deep hole into the Earth with the hope of finding a gas reserve in its southern west Sichuan province.