By Norman Palihawadane The CID is investigating a human trafficking network enabling Lankan ex servicemen to fight as mercenaries in both sides of the Russia-Ukraine war, Police headquarters sources said on Friday. According to information confirmed by the investigators, at least five

Secretary to the Treasury and Finance Ministry Mahinda Siriwardana has said that even if Sri Lanka achieves the goal of zero corruption, tax revenue will still have to be increased to bridge the budget deficit and lessen the country’s debt burden. Referring to the Supreme Court ruling pertaining to economic management delivered on Nov 14, […]

[An article based on the Keynote Address delivered by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, recently at the Annual Research Symposium 2023 of the University of Colombo] Introduction Inflation affects every aspect of our lives; it is a force that shapes our purchasing power, influences our financial decisions, and […]

Oil prices have jumped on concerns that the situation in Israel and Gaza could disrupt output from the Middle East. Brent crude, the international benchmark, climbed by $2.25 a barrel to $86.83, while US prices also rose. Israel and Palestinian territories are not oil producers but the Middle Eastern region accounts for almost a third […]

The G20 joint declaration in Delhi is being described as a significant diplomatic win for India. The agreement of a joint statement looked almost impossible a few days ago, given how sharply divided the group was over Russia’s invasion of Ukraine. In the end, we had a declaration

Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]

While the days of good news are going on for India, the latest good news is that our country’s currency, the rupee, is gradually making its place and influence among countries of the world. Seeing the increasing role of India in international trade, the countries of the world are coming forward to do financial transactions […]

It is welcome news for progressive opinion in the global South that some seven countries, thus far seen as having been among the poorest countries of the world, would be ‘graduating’ out of the Least Developing Country (LDC) category. Among them are; Bhutan, Bangladesh, Laos, Nepal and Angola. Hopefully, development researchers the world over would […]

The Russian Foreign Ministry said in a statement that the G20 is destabilized by the collective West and is used in an anti-Russian, purely confrontational manner. The United States, the EU and the G7 continue their attempts to isolate Russia and shift the blame for the provoked

By Dr Laksiri Fernando One mistake we normally make in analysing the situation or crisis in Sri Lanka is to do it in isolation. Sri Lanka is unfortunately only a part of a world system. Although this situation is valid to almost all other countries, smaller or weaker a country, larger are the effects of […]

By MAHADIYA HAMZA ECONOMYNEXT – Sri Lanka’s tourism revival is facing a challenge in bringing in more high spending foreign visitors due to increasing protests locally while monetary tightening, impacts of Russian invasion into Ukraine, and rising inflation globally.The move is likely to slow the island nation’s recovery from the unprecedented economic crisis as it is […]

German Chancellor Olaf Scholz could very well have broken rank with some of his fellow member states in the European Union by choosing to visit China with the aim of mending economic fences with the latter. Scholz sought to reassure the political leadership of the Union and their publics that he meant well by his […]

By Rebecca Bundhun India’s economy and equity markets are outperforming most of their global peers. Despite a slew of challenges including macroeconomic headwinds stemming from Russia’s war in Ukraine, elevated crude oil prices and tightening liquidity globally, the growth story of Asia