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Sun, 22 Sep 2024 Today's Paper
Sri Lanka’s general prices accelerated in June on the back of higher food prices and transport costs resulting from the fuel price hike in May, as policymakers battle reining in escalating cost of living.
Laugfs Gas PLC, the second largest distributor of liquid petroleum gas (LPG) or cooking gas in Sri Lanka yesterday cried foul over the “baseless” price reduction of 12.5 kg LPG cylinder, which came into effec
Sri Lanka’s merchandise trade deficit worsened during April as the consumption-hungry nation imported record-high consumption goods and personal vehicles, while exports languished.
Ceylon tea continues to face major hurdles this year due to ad-hoc policies pursued by the State, government-red-tape, irresponsible actions of certain stakeholders and volatile conditions of key export markets, the umbrella organisation of Ceylon Te
(Hong Kong) REUTERS: China’s Xiaomi Corp priced its Hong Kong initial public offering (IPO) at the bottom of an indicative range, raising US$4.72 billion in the world’s biggest tech float in four years, people close to the transaction sai
he Ceylon Chamber of Commerce (CCC), the apex body representing the country’s private sector emphasised that business confidence had been adversely impacted by political uncertainty last year, but commended the government for its more consisten
Sri Lanka’s construction sector is increasingly played by foreign investments (FDI), rather than locally generated funds. The main reason for this is the sector’s annual output value now totalling to a huge US$3 billion without even addin
ATHENS (AFP): Greece’s long-term debt prospects are uncertain, the International Monetary Fund said yesterday, questioning the country’s ability to maintain high budget surpluses to 2060 under a recent eurozone deal.
ECONOMYNEXT: Sri Lanka is expecting to wrap up financing for a 1.7 billion US dollar light rail transit project for the capital Colombo by November 2018, for construction to begin by 2020, officials said.
BEIJING (AFP): China has announced sectors of the economy where it will ease foreign investment rules, with leaders stepping up efforts to portray the country as opening up as they prepare for a possible trade war with the United States.
HONG KONG (AFP): Asian markets mostly rose yesterday, bringing an end to a tumultuous quarter that has seen sharp losses around the world, with China-US trade tensions showing no sign of calming.
Delivering the keynote address at the Saman Kelegama Memorial Conference yesterday, Prime Minister Ranil Wickremesinghe noted that Sri Lanka has to address weaknesses in trade competitiveness, eliminate trade barriers, tackle anti-dumping legislation
A bird’s-eye view of the Chinese-funded Colombo Port City, which is under construction. An explosive New York Times new report this week shed light on alleged Chinese involvement in Sri Lanka’s domestic politics, and the International Mon
Sri Lanka’s economic growth is expected to rebound this year to around 4.3 percent in the medium term, the World Bank (WB) said yesterday, while giving the island nation a stable outlook provided that the government maintains momentum in its re
As appreciating U.S. dollar is testing the resilience of many emerging and frontier markets this year, Sri Lanka stands among the most vulnerable economies for the dollar’s rising phenomenon,
Defending his senior-most official, the Central Bank Governor Dr. Indrajit Coomaraswamy yesterday dismissed the allegations levelled against Senior Deputy Governor Dr. Nandalal Weerasinghe by former Finance Minister Ravi Karunanayake.
The hefty provisions made against possible bad loans eroded an otherwise good performance at Cargills Bank, as the lender increased its top line and expanded its loan book during the first three months of the year.
(Colombo) REUTERS: Sri Lankan shares declined for a fourth straight session yesterday and posted their lowest close in nearly 15 months, as foreign investors continued to offload th
Sri Lanka is sleepwalking into a Rajapaksa dynasty characterized by illiberal democracy, state-dominated inefficient capitalism and ethnic chauvinism, after a failed test of good governance by an unholy coalition of left and right wing parties for th
A recent research has recommended the government to have a relook at the proposed tobacco cultivation ban by 2020, with a four-year phase-out period and financial assistance to tobacco farmers to diversify into other crops, as the employment of over
The Securities and Exchange Commission (SEC) has cleared a private placement deal the troubled Anilana Hotels & Properties PLC was trying to enter into with Singapore-based Somap International Private Limited, since last year.
The Sri Lanka Association of NVOCC Agents (SLANA) this week urged the government to convert Ceylon Shipping Corporation (CSC) to a strong regional non-vessel operating common carrier (NVOCC) operator and remove excess regulations to revive the nation
There is no shortage of sceptics of China’s Belt and Road Initiative (BRI). Indeed, stories about the BRI often include the evocation of debt ‘traps’ and ‘vassal states’. While some concerns merit consideration, popular
Tower cranes and giant caterpillars moving busily at multiple construction sites is the first sign of a fast-moving economy.
US President Donald Trump is repeatedly boasting about his success in negotiating with North Korea. For decades and through many administrations, every leader said that peace and denuclearization of the Korean Peninsula were not even small possibilit
The almost 70-year old Monetary Law Act (MLA) is currently being amended to take away the voting powers of the Finance Ministry at the Monetary Board, as the amended law aims to provide greater autonomy for the Central Bank over monetary policy formu
A Cabinet paper to establish a Development Finance Corporation (DFC) is being prepared by the Finance and Mass Media Ministry, Prime Minister Ranil Wickremesinghe said yesterday.
Sri Lanka may receive funding assistance from China-backed Asian Infrastructure Investment Bank (AIIB) for its Urban Regeneration Programme, which aims at relocating 50, 000 lower middle-income households living in slums in Colombo into new apartment
Central Bank Governor Dr.Indrajit Coomaraswamy says the criticism on Sri Lanka-Singapore Free Trade Agreement (SLSFTA) is not based on facts as there are no provisions enabling the free movement of professionals.
Ceylinco Insurance PLC yesterday marked its inclusion in the S&P Sri Lanka 20 Index as part of the June 2018 mid-year rebalance of the index with a bell ringing ceremony on the trading floor of the Colombo Stock Exchange (CSE).
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