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 […]

NEW DELHI: A UAE free economic zone invited Indian companies on Thursday to expand operations into the region, as the Gulf state tries to attract investors from South Asia’s largest economy with new opportunities. Economic ties between India and the UAE received a major boost

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 […]

By Jehan Perera Canadian Prime Minister Justin Trudeau’s remarks on May 18 that “Canada will not stop advocating for the rights of the victims and survivors of this conflict, as well as for all in Sri Lanka who continue to face hardship,” in the context of the recognition of May 18 as “Tamil Genocide Remembrance […]

By Hema Senanayake hemasenanayake@yahoo.com IMF has an ideology, a system of ideas and ideals which forms the basis of its decisions and policy prescriptions for which the recipient country of the loan claims as of its own. The most important idea does not originate from economic theory but international trade theories instead. The Great Recession […]

The G7 nations have called for the development and adoption of international technical standards for trustworthy artificial intelligence (AI) as politicians of the rich countries focus on the new technology. While the G7 leaders, meeting in Hiroshima, Japan, recognised that the approaches to achieving “the common vision and goal of trustworthy AI may vary”, they […]

External Affairs Minister S Jaishankar met Belgian Prime Minister Alexander De Croo on Monday, along with Commerce and Industry Minister Piyush Goyal and Union Minister of State for Entrepreneurship, Skill Development, Electronics and Technology Rajeev Chandrasekhar, to discuss expanding bilateral cooperation, including in trade and technology. “Delighted to call on PM of Belgium @alexanderdecroo ...

President Ranil Wickremesinghe, during a meeting with Ministry Secretaries and Provincial Chief Secretaries, expressed confidence that the proper implementation of the government’s policy program would lead to economic prosperity surpassing the goals set by the International Monetary Fund. He stressed the need for collective effort to address the concerns raised by the youth regarding the […...

The Picturesque region of Kashmir is gearing up to host the prestigious G20 Summit for the first time in its history. The event, which will take place from May 22 to 24 at the SKICC on the banks of the famous Dal Lake in Srinagar, is expected to have a positive impact on the tourism […]

Despite resistance from Pakistan and China, New Delhi’s decision to host a meeting of Group of 20 or G20 countries in Srinagar, is set to be a game-changer not only for the economy of the valley, but a diplomatic victory for India. For people of Kashmir, who have seen violence

CPC, CEB need to recover costs until end of Fund’s loan package By Rathindra Kuruwita The Ceylon Petroleum Corporation (CPC) and Ceylon Electricity Board (CEB) had to recover costs until the end of the IMF programme, Sarwat Jahan, IMF Resident Representative in Sri Lanka, told a press conference in Colombo yesterday. The IMF also wanted the […]

The IMF has expressed hope that Sri Lanka’s debt restructuring process would be completed by September, which is also the time for the global lender’s formal review of the bailout facility it extended to the cash-strapped nation, a senior IMF executive said on Monday. The International Monetary Fund (IMF)  recently extended a  USD 3 billion […]

Director of the Asia and Pacific Department of the International Monetary Fund (IMF) Krishna Srinivasan says that Sri Lanka s economy is expected to contract by 3 percent in 2023, before registering a modest growth of 1.5 percent in 2024.