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Beijing [China], August 19 (ANI): Raising concerns regarding the financial crisis triggered by the downturn in China’s real estate market, Chinese investment firm Zhongrong Trust , which managed USD 87 billion worth of funds for corporate clients and wealthy individuals as of the end of 2022, had failed to pay the interest and principal on […]
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.
[…]The post Shani’s Release & State Accountability appeared first on Colombo Telegraph.
[…]The post The Mind Of Junious (A Parable) appeared first on Colombo Telegraph.
Bio Foods (Pvt.) Ltd., a pioneer in export agriculture in Sri Lanka, proudly commemorates its 30th anniversary as a leader of organic and fair-trade agriculture on a global scale. Established in 1993 by visionary founder and Chairman, Dr. A. Sarath Ranaweera, Bio Foods has emerged as an exemplary model for sustainable and ethical farming practices. […]
[…]The post The Economy & Politics: A Reality Check appeared first on Colombo Telegraph.
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, […]
[…]The post India Is Over The Moon, Ranil Wants Sri Lankan Children Taught Hindi & Chinese appeared first on Colombo Telegraph.
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
The removal of Qin Gang from his post as China’s foreign minister after a weeks-long disappearance fostered a few zesty rumors. Talk of affairs, conspiracies, and corruption has bounced around the net even as other policymakers have been replaced. But whatever sparked Qin’s fall, the impact on Chinese foreign policy and governance will be insignificant—as many […]
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part 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 […]
Thursday 24th August, 2023 It must have gladdened the hearts of all Sri Lankans, who are undergoing untold suffering owing to corruption, waste and economic mismanagement, to hear that the law had eventually caught up with two foreign political leaders. Former Thai Prime Minister Thaksin Shinawatra was arrested and taken to jail, on Tuesday, upon […]
[…]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 […]
China has requested permission for a research ship to dock in Sri Lanka, Colombo said Tuesday, following a visit by a spacecraft-tracking vessel last year that sparked security concerns from neighbouring India. Sri Lankan foreign ministry spokeswoman Priyanga Wickramasinghe said Beijing had sought permission for the Shi Yan 6 to dock, but that no date […]
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
Milinda Moragoda, who is scheduled to relinquish duties as Sri Lanka’s High Commissioner in New Delhi, has stressed the pivotal importance of the two countries developing the current relationship to a strategic level, on the basis of recently inked agreements. Moragoda said so addressing the students of the 63rd National Defence Course at the National Defence College (NDC) […]
Registered tax files 500,000, only 31,000 pay personal tax Proposed amendments to Sri Lanka’s Inland Revenue Act will serve to address purported under performance of Inland Revenue Department (IRD) officials in a bid to enhance income tax collection, Government MP Mahindananda Aluthgamage said, noting that there is only one person in the country who pays […]
[…]The post Is Ranil Wickremesinghe Unelectable? appeared first on Colombo Telegraph.
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 […]
Wang Yi, Director of the Office of the Foreign Affairs Commission of the Communist Party of China (CPC) Central Committee, (and Foreign Minister) said, on Wednesday, that China would help Sri Lanka effectively address the challenges of financial debt. Wang, also a member of the Political Bureau of the CPC Central Committee, said so during […]
State Minister of Finance Shehan Semasinghe has emphasised that receiving the second tranche of the IMF s Extended Fund Facility (EFF) will portray a positive image of Sri Lanka s economy in the future to both foreign and local investors.
[…]The post Is Sri Lanka Ready For The Climate Conference? appeared first on Colombo Telegraph.
Wang Yi, director of the Office of the Central Commission for Foreign Affairs, vowed that China will help Sri Lanka effectively address the challenges of financial debt on Wednesday.The post China to help Sri Lanka address challenges of financial debt – Foreign Minister appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.