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Sri Lanka’s cabinet has approved increasing the minimum wage by 40%, a top official said on Tuesday, to support workers struggling with living costs as the economy slowly shakes off its worst financial crisis in decades, helped by an IMF bailout. Sri Lanka’s economy collapsed in early 2022
, during Gotabaya Rajapaksa’s Presidency, explained how those who manipulated the crisis […]
In its quest to challenge Western hegemony in global governance and make itself more representative of the Global South, BRICS has begun to expand itself, including more new member nations. The expansion has led to a formal request by Pakistan to join BRICS in late 2023. This has led to discourse and speculations by scholars, […]
In an unprecedented display of candor, Premier Li Qiang’s inaugural government work report delivered a scathing indictment of the myriad economic woes plaguing China at the recently concluded National People’s Congress in Beijing. The wide-ranging report pulled no punches in exposing the cascading domestic fragilities and external hostilities that threaten to derail the world’s second-largest [...
, MP, were pursuing the same strategy to address the economic crisis. Therefore, […]
McDonald’s may decide to return to Sri Lanka with a new franchisee after the company ended an agreement with its local partner, the Reuters news agency quoted an attorney for McDonald’s as saying. McDonald’s has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, […]
McDonald’s may decide to return to Sri Lanka with a new franchisee after the company ended an agreement with its local partner, the Reuters news agency quoted an attorney for McDonald’s as saying. McDonald’s has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, […]
Sri Lankan President Ranil Wickremesinghe emphasizes the necessity of a new economic reform program for the country’s economic recovery.The post Sri Lanka President stresses vitality of new Economic reforms for country’s recovery appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
President Ranil Wickremesinghe participating in a friendly discussion organized by the ‘United Youth Union’ on the theme ‘Future of our Youth’ in Polonnaruwa on Saturday (23), stressed the necessity of a new economic reform program for the country’s economic recovery. He requested for collective support from all citizens to prevent the next generation from inheriting […]
[…]The post Mr. President, You Plan To Rapidly Transform The Country Into An Export Economy By Passing Two New Laws In April 2024? appeared first on Colombo Telegraph.
… corruption cited as one of the three issues faced by the country Japanese Ambassador Hideaki Mizukoshi Thursday (21) urged Sri Lanka to turn the continuing economic, political and social crisis into an opportunity to achieve success. The Ambassador said that the country
[…]The post President Anura Kumara Dissanayake appeared first on Colombo Telegraph.
Alhambra Hotels commemorates five decades of unwavering dedication to hospitality excellence today. What began as a visionary endeavor by founding Chairman Mr. Jabir A. Cader, a prominent businessman, has evolved into a cornerstone of Colombo’s hospitality landscape. Originally envisioned as a modern cinema, the venture transformed with the changing tides, capitalizing on the burgeoning tour...
Global investors and Sri Lankan officials expect to start negotiations aimed at restructuring $12 billion in defaulted global bonds next week, Bloomberg News reported on Thursday.The post Sri Lanka to start restructuring talks with investors next week, Bloomberg News reports appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
In the sun-kissed paradise of the Maldives, where azure waters meet golden shores, a cloud of uncertainty looms over the political landscape. President Mohamed Muizzu, once hailed as a beacon of hope for the nation’s future, now finds himself navigating treacherous waters, buffeted by the winds of discontent and economic strain. The recent opening session […]
[…]The post Books & Elections: President Gotabaya Rajapaksa’s Claim Of Foreign Conspiracy appeared first on Colombo Telegraph.
Global investors and Sri Lankan officials expect to start negotiations aimed at restructuring $12 billion in defaulted global bonds next week, Bloomberg News reported on Thursday. A steering committee, comprising of bondholders, will begin talks as they weigh a proposal from the government to rework the overseas debt that has been in default since 2022, […]
If Sri Lanka continues to rely on borrowing to address the imbalance between imports and exports, the nation will inevitably confront another economic crisis within a decade, says President Ranil Wickremesinghe.
Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement for the release of $1.1bn from a $3bn bailout package the indebted country needed to avert a sovereign default. “The IMF team has reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan’s stabilisation programme,” the IMF […]
[…]The post Why The Sri Lankan Rupee Is Appreciating appeared first on Colombo Telegraph.
By Shamindra Ferdinando By the time President Gotabaya Rajapaksa had arrived in Singapore in the second week of July 2022, a few days after fleeing Sri Lanka, he firmly believed that then Prime Minister Ranil Wickremesinghe was the only person capable of restoring the rule of law in the country. In the chapter titled ‘The […]
By N Sathiya Moorthy The figure is still low yet for ten per cent of Sri Lankans to indicate a preference for authoritarian rule does not augur well for the nation’s democracy, which is already under multiple pressures. The continuing economic crisis, which some experts say could push the nation
Sri Lanka’s Government-backed traditional astrologers have failed to unanimously agree on the best date for new year rituals, with squabbling seers warning of “disaster” and accusing rivals of misinterpreting the position of stars. Astrologers are hugely influential figures consulted by the island’s Buddhist and Hindu communities, and their advice for auspicious dates guides everything from [̷...
The Asian Development Bank (ADB) has approved a $100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. “SMEs play a critical role in Sri Lanka’s economy
The Asian Development Bank (ADB) has approved a $100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change.The post ADB approves $100 million loan to support
UNP Gen. Secy. prefers contest between RW and rivals first By Shamindra Ferdinando Commissioner General of the Election Commission (EC) Saman Sri Ratnayake, yesterday (17) said that even if the government decided to advance the parliamentary polls, the coming presidential election could not be postponed. Ratnayake said so when The Island sought his response to SLPP founder […]
The Asian Development Bank (ADB) has approved a $100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change.
Saturday 16th March, 2024 Sri Lankan governments do not respond to early warnings and thereby invite trouble. The Easter Sunday carnage (2019) could have been prevented if the Sirisena-Wickremesinghe government had heeded repeated intelligence warnings of impending terror attacks. It let the grass grow under its feet, and disaster struck. It has now been revealed […]
159 engineers who worked at the Ceylon Electricity Board (CEB) have gone abroad within a two-year period, Dhanushka Parakramasinghe, President of the Engineers Association of the CEB, announced today (March 15).The post 159 CEB Engineers left the country within two years appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
By Saman Indrajith President Ranil Wickremesinghe had told opposition political parties that they would be given an opportunity to meet a high powered International Monetary Fund (IMF) delegation last Monday to discuss the IMF programme, but he had not invited representatives of the IMF to the discussion, National People’s Power (NPP) stalwart and former MP, […]