The Central Bank of Sri Lanka (CBSL) is conducting special monitoring to determine if the lending rates have been adequately reduced by licensed commercial banks, Finance State Minister Ranjith Siyambalapitiya says.

Property giant Evergrande has filed for bankruptcy protection in the US as the real estate crisis in China deepens. It will allow the heavily-indebted company to protect its assets in the US as it works on a multi-billion dollar deal with creditors. Evergrande defaulted on its huge debts in 2021, which sent shock-waves through global […]

Singapore police have arrested 10 people and seized assets including properties and luxury cars worth about one billion Singapore dollars ($737m) as part of an investigation into a suspected money laundering ring. The police conducted simultaneous raids on Tuesday across the city-state, they said in a statement on Wednesday evening, targeting a group suspected of […]

There is considerable haggling in some local quarters on whether the concept of Non-alignment is of any relevance to Sri Lanka in particular and to the developing world in general. Going by some pronouncements in these sections the ideology of Non-alignment has seemingly ceased to be of importance to Sri Lanka as a basis of […]

The World Bank is mulling local currency lending in countries like India to help borrowers save on costs, a senior official said on Friday. “How do we do local currency lending for a country like India is also something we are trying to think of at a price which is advantageous to this country,” Anshula […]

The US Senate confirmed Dr Geeta Rao Gupta, an Indian-American, for the position of Ambassador-at-Large for the Office of Global Women’s Issues in the State Department. “Dr Geeta Rao Gupta was confirmed by the US Senate as the Ambassador-at-Large for the Office of Global Women’s Issues. @StateDept looks forward to her efforts to promote women […]

by Jehan Perera A little publicised march wended its way from Talaimannar in the north-west coast to Matale in the central hills.  The march retraced the jungle track of 200 years ago that brought a flow of men and women in the tens of thousands from the south of India to work on the newly […]

Tuesday 15th August, 2023 The Professional Chef’s Association Sri Lanka (PCASL) made a fervent appeal over the weekend on behalf of everyone engaged in tourism. Pointing out that unfortunate instances abounded where foreign tourists faced exploitation at the hands of various persons, it stressed that the foreign guests helped boost the country’s economy and deserved […]

President Ranil Wickremesinghe has emphasised the need to implement a well-structured strategy to earn at least 2 billion US dollars from the gem and jewellery industry. The President’s Media Division (PMD) said the President had urged officials present at the meeting to formulate a comprehensive plan to achieve the country’s objective of bolstering the annual […]

President s Senior Advisor on National Security and Chief of Presidential Staff Sagala Ratnayake has hinted at the potential reduction of bank interest rates.

Cops join IRD to raise revenue The police has launched a new collaboration with the Inland Revenue Department (IRD) to track down unexplained wealth and go after black money, a top official said.Under the new initiative, the police will inform the IRD of their on-going investigations into money laundering and financial scams so that tax […]

Women’s rights groups in Sri Lanka yesterday (11) rejected the current debt restructuring solutions that place the burden of repayment on Sri Lanka’s working classes, particularly its women. Addressing a press conference, a number of women’s groups said they are demanding urgent and sustainable solutions to the ongoing debt crisis in Sri Lanka that respond […]

The Central Bank of Sri Lanka (CBSL) has warned that any involvement in pyramid schemes will be deemed a punishable offence.

The Ceylon Bank Employees Union (CBEU) has raised concerns over the concealment of the report compiled by the committee appointed to probe the irregularities within state banks.