Saturday 22nd July, 2023 The SLPP-UNP administration continues to flex its parliamentary muscle tenaciously and secure the passage of vital Bills and resolutions with ease much to the disappointment of the Opposition, which is too impotent to act as a formidable countervailing force. It had the second reading of the Central Bank Bill passed with […]

Central Bank Governor Dr. Nandalal Weerasinghe says Sri Lanka will have to go through another Domestic Debt Optimization (DDO) strategy if the targets of the current plan are not achieved.

The second reading of the Central Bank of Sri Lanka (CBSL) Bill was passed in Parliament a short while ago, with a majority of 42 votes.

by Y P Prakash The Sri Lankan government, led by Power & Energy Minister Kanchana Wijesekara, has placed significant emphasis on regional energy integration and grid connectivity between Sri Lanka and India. The target for implementing this initiative is 2030. Discussions regarding regional energy integration have been ongoing for more than two decades, and the […]

Sri Lanka has received foreign grants amounting to EUR 9.8 mn meant to improve transparency and accountability in public finance expenditure. The EU disclosed the grant in a statement issued yesterday. According to the statement, the government, the World Bank, the European Union (EU) and Agence Française de Développement (AFD) have signed financing agreements to […]

Sri Lanka stands a strong chance of passing the first review of its $3 billion bailout given falling interest rates and a build-up of foreign reserves, according to the nation s representative on the International Monetary Fund executive board.

The Sri Lankan government and World Bank, European Union (EU) and Agence Française de Développement (AFD) have recently signed financing agreements to help strengthen Sri Lanka s management of public finances.

World Bank Country Director for Maldives, Nepal and Sri Lanka Faris Hadad-Zervos has commended Sri Lanka s efforts thus far with regards to finding solutions for the island s economic crisis.

Wednesday 19th July, 2023 Sri Lanka’s public health sector is in the news always for the wrong reasons. Allegations that some Health Ministry panjandrums cut corrupt deals with foreign pharmaceutical companies and procure substandard medicinal drugs to enrich themselves have created quite a stir. Health Minister Keheliya Rambukwella, who is under fire for the rapid […]

By Hiran H.Senewiratne CSE trading moved up, especially in banking sector counters yesterday due to conducive market conditions. Investors expected the index to touch more than 11,000 points. Investor expectations that the government would remove all import restrictions by September, contributed towards the market’s performance as well. Amid those developments both indices moved upwards. The [R...

Sri Lanka born international economist Dr. Howard Nicholas of Erasmus University, Netherlands has categorically stated that Sri Lanka must not adopt the IMF recommendations on monetary policy for it has no rational basis and evidence of success anywhere in the world. Coming from a Western based economist that provides a lot of food for thought […]

The Criminal Investigation Department (CID) on Tuesday (18 July) obtained approval from the court to investigate nine bank accounts belonging to Pastor Jerome Fernando, who recently found himself in hot water after making controversial statements during a sermon.

Tuesday 18th July, 2023 Much is being talked about the need to eliminate bribery and corruption in Sri Lanka, where these twin evils have become institutionalised. The government and the Opposition are vowing to get tough with the corrupt as if their own members were paragons of virtue! They are making some anti-corruption laws on […]

Business pertaining to the second parliamentary week of July was decided on the 7th at the Committee on Parliamentary Business Chaired by  Mahinda Yapa Abeywardana, the Speaker. Accordingly, the Parliament is scheduled to convene from 18th July to the 21st. Time from 9.30 a.m. to 10.30 a.m. on each day is reserved for Questions for […]

China, with its growing capital resources, is aggressively expanding its influence through infrastructure investments worldwide. Underdeveloped countries in Africa, suffering from capital shortages, are the primary targets of Chinese debt and equity. In the pursuit of progress, these countries are often seen counting upon China for trade, technology and equipment. Going through their development j...

By Norman Palihawadane About 29,578 people had applied for passports online since the launch of the e-service at 51 Divisional Secretariats across the country, last month, Public Security Minister Tiran Alles said. Alles said that out of those, 5,294 people had submitted applications for one-day service and 24,285 for the normal service. Online service commenced […]

Monday 17th July, 2023 The Parliamentary Select Committee (PSC) appointed by Speaker Mahinda Yapa Abeywardena to investigate the causes of the country’s bankruptcy has come in for severe criticism, and understandably so. The Opposition has rightly pointed out that the PSC cannot be expected to act impartially under the chairmanship of General Secretary of the […]

People’s Bank’s ‘People’s Remittance Vaasi Kotiyai 2023’ draw to select the millionaire winner for the month of May took place at the People’s Bank, Overseas Customer Services premises at Colombo 10 recently. In addition to that, the weekly winners for the period from May 14 to June 24, 2023, were also drawn at the event, […]

ECONOMYNEXT –Sri Lanka’s main opposition party the Samagi Jana Balawegaya (SJB) will present an amendment to the Employees’ Provident Fund (EPF) Act to ensure an equitable treatment in restructuring domestic debt, an SJB legislator said. MP Harsha de Silva told reporters on Wednesday July 12 that the party will propose an amendment that, if passed, […]

The economic and political landscape of Nepal is currently facing a dual assault from its neighbor, China. As the country grapples with the aftermath of a devastating earthquake, the once-thriving Tatopani market stands as a somber reminder of the destructive power of nature. However, the decline of this border town is not solely due to […]