Romanian Ambassador Doamna Arhire has informed Prime Minister Dinesh Gunawardena that Romania would sign an agreement with Sri Lanka to avoid double taxation to boost the bilateral trade between the two countries. Ambassador Arhire called on Prime Minister Gunawardena at Temple Trees on Monday (26). PM Gunawardena and the Romanian envoy discussed the long-standing bilateral […]

India’s interim budget focus on poor, youth, farmers and women will not only uplift more than 60 percent of the population in India but also have a spillover effect in South Asia. It sets an example for the developing countries to uplift the downtrodden, facilitate the youth, farmers and empower the women. Overall, it will […]

Monday 26th February, 2024 Sri Lanka is a nation in the hara-kiri mode. It needs no enemies; it has become its worst enemy. It continues to maintain a bunch of failed, corrupt politicians and their bureaucratic lackeys responsible for ruining the economy and hell-bent on degrading vital national

By Rathindra Kuruwita Until Sri Lanka has access to international money markets, which will allow it to ensure there are no short-term dollar shortages, relaxing the restrictions on vehicle imports is out of the question, Professor in Economics at the Department of Economics at Colombo University, Dr. Priyanga Dunusinghe, said. Even then, relaxing vehicle imports […]

The Maldives is a strategically important nation in the Indian Ocean, now facing a high risk of debt distress due to its increasing proximity to China. The IMF has warned the Maldives that it needs to make urgent policy changes to avoid falling into debt. The Maldivian economy, which is heavily

By Shamindra Ferdinando National Freedom Front (NFF) leader Wimal Weerawansa says the proposed Economic and Technology Co-operation Agreement (ETCA) with India should be examined in the context of India’s geopolitical strategy in respect of Sri Lanka. Referring to a recent declaration by SLPP MP Rear Admiral (retd.) Sarath Weerasekera that the government parliamentary group hadn’t […]

President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]

Inaugurating the 5th session of the 9th Parliament of Sri Lanka President Ranil Wickremesinghe called upon all lawmakers to collaborate in nation building  even though they would be contesting elections separately. “From ancient times to the present day, our world has encountered a myriad of crises, spanning nations and personal lives alike. While some crises […]

ECONOMYNEXT –An Indian firm is in the process of getting permission to manage Sri Lanka’s three airports including the main Bandaranaike International Airport (BIA) where the there is an over saturation in foreign tourists, Tourism Minister Harin Fernando said. The island nation is expecting 2.2 million tourists for 2024, but the main airport needs capacity […]

By Hiran H.Senewiratne Sri Lanka’s inflation could rise to 7 percent in January 2024 due to the VAT increase, the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe warned. Speaking at a special press briefing held yesterday, Dr. Weerasinghe explained that an increase in inflation is likely due to the increase […]

At a discussion at the World Economic Forum (WEF) stakeholder dialogue titled ‘Pulling back from the brink,’ held in Kurpark Village, Aspen, President Ranil Wickremesinghe outlined short-term strategies aimed at revitalizing Sri Lanka’s economy. Emphasizing tourism promotion, agricultural

By Sanath Nanayakkare When a country is in an economic crisis, it creates an environment conducive to implementing economic reforms which would be difficult to do in good times, however, it still depends on how far the reformist leaders can shape the opinion of the people and the people’s willingness to take those reforms on […]

The Pathfinder Foundation has formed a Study Group of Experts to develop a blueprint and framework aimed at doubling Sri Lanka’s economic growth rate through accelerated economic integration and infrastructural connectivity with India. The framework document is expected to be formally launched in March 2024. Most economic forecasts place Sri Lanka on an average growth trajectory of 3% per […...

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Monday 27th November, 2023 The SJB has commenced collecting signatures for a public petition as part of a campaign to have those who are responsible for the current economic crisis stripped of their civic rights. Given public resentment, which is palpable, the SJB may be able to obtain hundreds of thousands of signatures for its […]

By Amal JAYASINGHE Malé (Maldives) AFP: Rising sea levels threaten to swamp the Maldives and the Indian Ocean archipelago is already out of drinking water, but the new president says he has scrapped plans to relocate citizens. Instead, President Mohamed Muizzu promises the low-lying nation will beat back the waves through ambitious land reclamation and building […]

Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew.  He said that a new social consensus should be […]

* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]

Cassandra is sick to her innermost core seeing on TV daily, multiple protests of motley crowds toting banners and marching all across roads and in many instances being tear gassed and water cannoned. She is sure that like her, five sixths of adult citizens in this doomed and gloomed land are sick of these protests. […]