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H.J.M Seneviratne, 63, slices through yellowed paddy stems dried out by a drought that has destroyed over 95% of his crop and is threatening crisis-hit Sri Lanka's summer rice harvest.The post Drought dents Sri Lanka’s economic hopes, farmers’ livelihood appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
KARACHI: Pakistan’s total debt and liabilities rose by 29 percent to Rs77.1 trillion in the fiscal year that ended on June 30, the central bank said on Wednesday, as the government borrowed heavily to finance its spending requirements. At the end of the last fiscal year, the country’s debt and liabilities, including domestic and foreign, […]
By N Sathiya Moorthy Recently, Education Minister Susil Premajayantha told Parliament that the Government was making efforts to increase the number of teachers across the country — but there would still remain a shortage of 26,000 teachers. His proposals include hiring retired and former teachers for provincial councils, which already have the funds allocated for the […]
[…]The post Debterioration Of Nations Social Security & Protection appeared first on Colombo Telegraph.
Monetary policy transmission to the real economy in Sri Lanka is still incomplete, the governor of the country's central bank, Nandalal Weerasinghe, said at a LSEG FX Community Event on Monday.The post Sri Lanka central bank chief: monetary policy transmission still incomplete appeared
In a veiled attack on China, National Security Adviser Ajit Doval said BRICS could work together on listing terrorists and their proxies under the UN counter-terrorism sanctions regime but emphasised that the process should be free from “politics and double standards.” Ajit Doval made the remarks during the meeting of the National Security Advisers of […]
By Jayantha Somasundaram (This articlecontinued from yesterday (25) is based on reporting by the international media on the events in Sri Lanka forty years ago.) “For day after day Tamils were beaten, hacked or burned to death in the streets, on buses, on trains – sometimes in the sight of horrified foreign tourists. Their homes […]
At first glance, life in Sri Lanka's financial capital Colombo looks deceptively normal.The post Is the worst over for Sri Lanka’s economic crisis? appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
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 […]
Sri Lanka is set to start bartering tea to Iran next month in lieu of $250 million owed for oil, a Sri Lankan official told Reuters on Friday, as the crisis-hit country tries to lift sales to a key market and protect its forex reserves.The post Sri Lanka set to start tea-for-oil barter with Iran next month appeared first on ONLANKA - Latest Breaking News updates on Sri Lanka.
By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies and donor nations. Though the […]
[…]The post Think 2048, Act Now appeared first on Colombo Telegraph.
Beijing [China], June 10 (ANI): China’s local governments are finding it difficult to service debt raised via municipal and Local Government Financing Vehicles (LGFVs) bonds, as their fiscal position has become tight due to the slowing economic growth and fall in revenue receipts amid a downturn in the property market. According to S&P Global Ratings […]
The federal budget for Fiscal Year 2023-24, presented by Pakistan Finance Minister Ishaq Dar on Friday, came as a huge disappointment for homemakers as it offered no respite from surging household expenses, The News International reported. Reeling under an economic crisis of the kind seldom experienced in the country’s history, women in Pakistan are finding […]
by Y P Prakash China’s pandemic-battered economy has started firing. However, since several local governments are saddled with trillions of dollar worth of debt and unemployment rate among youth has jumped nearly four times the national level, there is fear President Xi Jinping’s aim to double
By Chani Imbulgoda “We suffer today, because leaders in the past have failed to govern this country properly”. Oh, the predecessor has not done things well, they all have let the place go haywire”. Familiar excuses… When one takes over the leadership be it the country, be it an organisation, or be it a new […]
[…]The post The Food Crisis In Sri Lanka: Why We Must Act Now! appeared first on Colombo Telegraph.
By N Sathiya Moorthy How come a ‘poor’ in Asia is also among the ‘miserable’ in the world? But it is possible, as two economic surveys of nations have shown, coming as they do almost simultaneously. A certain Hanke’s Annual Misery Index (HAMI) 2022 has ranked Sri Lanka as the 11th […]
By Harischandra Gunaratna Chairman of the Institute of Hospitality, Dr. Harsha Jayasinghe on Tuesday said the brain drain in the country had not only led to a serious loss of talent but also hampered the industry’s ability to provide high-quality services and meet the demands of national and international visitors. Speaking at the 31st AGM […]
Prices for nonferrous metals like copper and zinc have slumped this month despite predictions of shortages just a few weeks ago, on concerns that the shortfalls could turn into surpluses if Chinese demand recovers more slowly than expected. Three-month zinc futures on the London Metals Exchange, an international benchmark, fell to $2,483 per tonne at one point […]
[…]The post Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century appeared first on Colombo Telegraph.
Islamabad [Pakistan], April 28 (ANI): Amid a rise in inflation and a shortage of foreign exchange reserves, people in Pakistan have started to face difficulties in performing Haj, Pakistan vernacular media reported. The Haj quota is now available for the first time in Pakistani history, but fewer people are making the pilgrimage. Most Pakistanis are […]
[…]The post Inflation, Interest Rate & Imperialism appeared first on Colombo Telegraph.
tourists in 2023 for crisis-hit economy appeared first on Sri Lanka Breaking News and Top Headlines ...
Adventure tourism is playing a key role in helping Sri Lanka rebuild its economy after a turbulent few years for the South Asian nation.The post Sri Lanka looks to adventure travel to attract ‘quality’ tourists and help rebuild economy appeared first on Sri Lanka Breaking News and Top
Sri Lanka President Ranil Wickremesinghe addressed the United National Party (UNP) May Day celebrations held at the Sugathadasa Indoor Stadium in Colombo yesterday (May 01) through video technology.The post Sri Lanka President says Let 2048 be the year of development for Sri Lanka appeared first on Sri Lanka Breaking News and Top Headlines - ONLANKA News.
[…]The post Is The Central Bank On Its Way To Technical Insolvency? appeared first on Colombo Telegraph.
Sri Lanka’s sovereign lenders have yet to inform the government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the central bank governor told Reuters in an interview on Tuesday.The post Sri Lanka central bank chief says sovereign lenders yet to outline debt talks plans appeared first on Sr...
Sri Lanka’s sovereign lenders have yet to inform the Government how they will engage with the country to restructure its $7.1 billion of debt and whether they will form an official committee or engage in bilateral talks, the Central Bank Governor told Reuters in an interview on Tuesday. The island nation aims to formally engage […]
[…]The post Janatha Aragalaya: The People’s Struggle In Sri Lanka appeared first on Colombo Telegraph.