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Sri Lanka President Ranil Wickremesinghe has announced the swift implementation of a comprehensive plan to elevate the Arugam Bay tourist zone into a highly desirable destination for both local and international tourists, with the potential to generate substantial revenue.The post Sri Lanka President reveals strategic roadmap to transform ‘Arugam Bay’ into a high-income tourist destina...
By J. Edward Moreno Tremors in China’s real estate market are shaking the country’s economy, as well as the world, which has come to rely on China as a reliable engine of growth. Major developers are faltering as they face huge losses, struggle with mountains of debt and miss payments to lenders. A long-running building boom […]
The Monetary Board of the Central Bank on Wednesday (23) decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 11.00 per cent and 12.00 per cent, respectively. It said in a statement: The Board arrived at this decision following […]
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
[…]The post ණය ප්රතිව්යුහගතකරණය, ආර්ථික කප්පාදුව හා ජාත්යන්තර මූල්ය අරමුදල: සර්වරෝගනාශකයක්ද නැත්නම් තත්වය උග්ර කරවන්නක්ද? – කොටස V appeared first on Colombo Telegraph.
The demand for imports in Sri Lanka continues to remain subdued, although a significant share of import restrictions has already been relaxed, the Central Bank of Sri Lanka said. The Central Bank said that the tight financial conditions was the cause for the subdued demand for imports in Sri Lanka. “Although a significant share of […]
Agriculture Minister Mahinda Amaraweera has assured that the country has ample stocks of rice that can sustain the upcoming Maha cultivation season.
A circular focusing on measures to accelerate the fall in market lending rates is due to be issued by the Central Bank of Sri Lanka on Friday (25 Aug).
The Central Bank of Sri Lanka (CBSL) has banned 9 entities including the OnmaxDT and MTFE SL Group that have conducted pyramid schemes which are prohibited in the country.
Sri Lanka stood pat on borrowing costs for the first time in three meetings, after slashing the cash ratio for banks to bolster domestic liquidity and growth.The post Sri Lanka Holds Rates After Bank Cash Ratio Cut for Growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
The Central Bank of Sri Lanka (CBSL) says its Monetary Board has decided to impose caps on interest rates on pawning facilities, pre-arranged temporary overdrafts and credit cards for all licensed banks.
The Monetary Board of the Central Bank of Sri Lanka has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 11.00 per cent and 12.00 per cent, respectively.
[…]The post Naked King & The Crumbling State: Seven Decades Of Fake Saviours appeared first on Colombo Telegraph.
By The Coca-Cola Company, Managing Director – Sri Lanka & the Maldives, Pankaj Sinha Coca-Cola, with its 62-year presence in Sri Lanka, has remained committed to supporting this beautiful country through its challenges. As someone who has made Sri Lanka his home since 2019, and seen the country grapple with natural disasters, acts of terrorism, and […]
Bond Scams Rebel SLPP group MP Gevindu Cumaratunga yesterday (22) told Parliament that he expected President Ranil Wickremesinghe to take up Singaporean Arjuna Mahendran’s issue with the Singaporean leadership during his two-day visit there. The National List lawmaker said President Wickremesinghe should intervene in this matter as it was he, as the Prime Minister of […]
By Hiran H.Senewiratne Sri Lankan websites maintain very high standards and could compete with top global websites, LK Domain Registry CEO/ Registrar Prof. Gihan Dias said. ‘BestWeb.LK is a unique annual competition conducted by the LK Domain Registry since 2009. The current competition is the thirteenth in the series of such events which recognize the […]
International Chamber of Commerce Sri Lanka (ICC Sri Lanka) hosted its third annual Arbitration Conference on August 3rd, 2023, at the Galadari Hotel in Colombo. The International Chamber of Commerce (ICC Paris) is celebrating 100 years of the ICC International Court of Arbitration this year. Since the inception of the ICC Court in 1923, they […]
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part IV appeared first on Colombo Telegraph.
[…]The post Change Flight From Stability With Stagnancy appeared first on Colombo Telegraph.
Sri Lanka’s consumer inflation rate more than halved to 4.6% year-on-year in July, helped by falling food prices, the statistics department said on Monday.The post Sri Lanka’s July consumer inflation more than halves to 4.6% appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has finally started paying back the $200 million it took from Bangladesh in a currency swap agreement in August 2021, more than a year and a half later than the original agreed date. On August 17, Sri Lanka sent $50 million to Bangladesh, which is the first instalment of the payment, according to Md Mezbaul […]
By Jehan Perera The situation in the country, particularly with regard to the economy and politics, can be described as stable but stagnant. The economy is stable in that it has not experienced further collapse in comparison to the kind witnessed last year when international bankruptcy was admitted. But the economy still continues to contract, […]
A discourse on the economic crisis in Sri Lanka, under the theme ‘Reform and Social Justice,’ will be held at 4.00 p.m. on Thursday, 24 August 2023, at the Centre for Society and Religion (CSR) Auditorium, 281, Deans Road, Colombo 10, under the auspices of the Socialist Study Circle. The speakers will be Dr W.A. Wijewardena, Former Deputy […]
[…]The post Target 2048 – Economic Democracy Principles Should Be Followed To The Letter appeared first on Colombo Telegraph.
Monday 21st August, 2023 Much is being talked about ‘pyramids’ and ‘islands’, of all things, these days. Another pyramid scheme has reportedly collapsed, and those who have lost their money are letting out howls of protests via social media. The Central Bank, from time to time, issues severe warnings to the public about such frauds, […]
The National Movement for Social Justice (NMSJ) led by former Speaker Karu Jayasuriya has lauded the Committee on Public Finance (COPF) for recognising the responsibilities of Parliament and acting in the interest of the public. The NMSJ chief has appreciated the Acting Chairman COPF and all its members. “We are making this assessment taking into […]
Sri Lanka President Ranil Wickremesinghe highlighted that the tourism industry stands as the paramount sector capable of swiftly advancing the country’s economic objectives.The post Sri Lanka President emphasizes progress in tourism sector, ready to provide required facilities appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
President Ranil Wickremesinghe has mooted the ‘Greater Yala’ concept which will promote Yala and areas around it. Speaking after inaugurating the Hilton Yala Resort, the President said that Yala must be promoted as a unified tourist destination by incorporating nearby areas. “Why are you going to call these places Udawalawe, Kumana and all? These are […]
Government authorities must consult vehicle importers when making decisions on relaxing an ongoing import ban, President of the Vehicle Importers’ Association Indika Sampath Merinchige said. Welcoming a recent announcement by the government that it will scrap an import ban on several types of commercial vehicles, Merinchige told reporters on Monday August 14 that the authorities […]
[…]The post Bold Buddhists & Progressive Tamils Must Interface: A Second Trump Term Poses Intrinsic Dangers Everywhere appeared first on Colombo Telegraph.