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India’s rupee trade settlement mechanism, a means of using rupees instead of dollars and other big currencies for international transactions, is attracting interest from more countries.The post Indian Central Bank approves five ‘vostro’ accounts for Sri Lanka appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ONLANKA News.
- Sri Lankan bank opens VOSTRO account in India (Category: Breaking News)
- India approves special ‘vostro’ account for Sri Lanka (Category: Breaking News)
- State Bank of India to begin overseas rupee trade with smaller nations (Category: Breaking News)
- RBI allows international trade settlement in Rupee (Category: Breaking News)
India has approved a special ‘vostro’ account for Sri Lanka, a means of using rupees instead of dollars for international transactions. According to Reuters, Sri Lanka had shown interest in the mechanism and the special vostro accounts have been approved by the Reserve Bank of India (RBI). The Reuters report said that Tajikistan, Cuba, Luxembourg […]
- Indian Central Bank approves five ‘vostro’ accounts for Sri Lanka (Category: Breaking News)
- RBI allows international trade settlement in Rupee (Category: Breaking News)
- Sri Lanka wants to start rupee trade with India (Category: Breaking News)
- India allows Sri Lanka to settle $1 bn credit facility in India rupees (Category: Breaking News)
President Ranil Wickremesinghe said that the country has had to face adverse repercussions today due to the short sighted popular decisions taken in the past and unpopular decisions have had to be taken for the future prospects of the country.The post Unpopular decisions have to be taken for the future benefit of the Country – President appeared first on Sri Lanka News - Latest Breaking News...
- No option but to increase electricity tariff – Prez (Category: Breaking News)
- Sri Lanka President says ‘this is our last chance to forge ahead’ (Category: Breaking News)
- How govt. agenda caused erosion of public faith in some independent commissions (Category: Breaking News)
- President launches scathing attack on PUCSL Chairman (Category: Breaking News)
[…]The post Budget 2023: A Depth Or Dearth appeared first on Colombo Telegraph.
- Domestic Debt Restructuring: Another Time Bomb Clicking Down? (Category: Breaking News)
- Tax! Tax!! Tax!!! (Category: Breaking News)
- Budget 24: High Aspirations Amidst Mounting Challenges But Options Are Limited (Category: Breaking News)
- The Role Of National Defence In A Crisis-Ridden Economy (Category: Breaking News)
[…]The post An Unstable & Unusual New World: Survival Strategies For Lanka appeared first on Colombo Telegraph.
- Next Round: Ranil Versus The JVP (Category: Breaking News)
- Sino-Indian Economic Competition (Category: Breaking News)
- Sino-Indian Economic Competition (Category: Breaking News)
- Sino-Indian Economic Competition (Category: Breaking News)
BY Ajeyo Basu New Delhi: Since its creation in 1947, Pakistan has based the very purpose of its existance on establishing Muslim rule over ‘Hindu’ India. However, the setbacks in the wars of 1965 and 1971 made the Pakistan Army – the actual rulers of the impoverished country – realise the futility of direct military confrontation […]
- Pakistan Reaps What It Sowed (Category: Breaking News)
- What is behind a resurgence of violent attacks in Pakistan? (Category: Breaking News)
- Pakistan’s Alarming Rise in Terrorism Is Fueled by Afghanistan (Category: Breaking News)
- Pakistan restricts movement of Afghans through Torkham border after rise in terror attacks: Report (Category: Breaking News)
People’s Bank recently entered into an agreement with the National Investment Industrial Bank in Russia to facilitate anovel remittance mechanism that enables efficient and convenient fund transfers from Russia to accounts in Sri Lanka. According to this arrangement, beneficiaries in Sri Lanka
- Parliament approves appointment of Sri Lanka’s new HC to Maldives (Category: Breaking News)
- Singer secures 18th consecutive ‘People’s Brand of the Year’ Award at SLIM-KANTAR PEOPLE’S AWARD... (Category: Breaking News)
- Parliament approves appointment of new Foreign Secretary (Category: Breaking News)
- Prime Wins Gold in Land and Property Sector at TAGS Awards 2022 (Category: Breaking News)
By MAHADIYA HAMZA ECONOMYNEXT – Sri Lanka’s tourism revival is facing a challenge in bringing in more high spending foreign visitors due to increasing protests locally while monetary tightening, impacts of Russian invasion into Ukraine, and rising inflation globally.The move is likely to slow the island nation’s recovery from the unprecedented economic crisis as it is […]
- Developing plans and policies without young people is a futile exercise: UNICEF Sri Lanka (Category: Breaking News)
- Urgent measures needed to halt exodus of skilled personnel (Category: Breaking News)
- UNDP, EU assistance to equip tourism industry for sustainable future (Category: Breaking News)
- OPA panel discussion: The Role of Domestic Aviation in Sri Lanka Tourism (Category: Breaking News)
German Chancellor Olaf Scholz could very well have broken rank with some of his fellow member states in the European Union by choosing to visit China with the aim of mending economic fences with the latter. Scholz sought to reassure the political leadership of the Union and their publics that he meant well by his […]
- XI HUNGERS FOR GLOBAL INTERACTION AFTER GETTING THIRD TERM (Category: Breaking News)
- President Ranil holds bilateral talks with Germany, Kazakhstan leaders (Category: Breaking News)
- Europe’s disunity over China deepens (Category: Breaking News)
- German defence minister resigns amid criticism, pressure over Ukraine arms (Category: Breaking News)
Russian Defence Minister Sergei Shoigu on Wednesday ordered his troops to withdraw from the occupied Ukrainian city of Kherson and take up defensive lines on the opposite bank of the River Dnipro.
Bankrupt Sri Lanka is caught up in a China-US battle. The situation has been further complicated by India, Japan and Australia becoming part of the US-led military alliance meant to counter China. The US-led grouping is hell-bent on enhancing its influence in Colombo as both parties woo lawmakers. Recent declaration by the ruling party that […]
- Acting Canadian HC summoned over sanctions on ex-Presidents, others (Category: Breaking News)
- ‘War crimes’: Not only individuals but also entire fighting divisions ‘blacklisted’ – Foreign Mi... (Category: Breaking News)
- Westminster event declares support for Canadian action against Rajapaksa brothers (Category: Breaking News)
- Geneva challenge: Sabry needs to review ‘case’ anew (Category: Breaking News)
[…]The post Need To Restrain The Power Of Shadow Finance appeared first on Colombo Telegraph.
- End Casino Capitalism: Sri Lanka To Join The Global Minimum Tax Agreement (Category: Breaking News)
- Failed Economy: Bribery & Corruption To Maintain Power (Category: Breaking News)
- The Police & Aragalaya Activists In A Time Of Social Upheaval (Category: Breaking News)
- Debterioration Of Nations Social Security & Protection (Category: Breaking News)
By Rebecca Bundhun India’s economy and equity markets are outperforming most of their global peers. Despite a slew of challenges including macroeconomic headwinds stemming from Russia’s war in Ukraine, elevated crude oil prices and tightening liquidity globally, the growth story of Asia
- $ 400 m IMF lifeline for struggling Sri Lanka (Category: Business)
- Etihad gets first Boeing 747-400 freighter (Category: Business)
- ‘India is in a sweet spot for the next few years’ (Category: Breaking News)
- Apparel producers decry 400% off-peak electricty price hike (Category: Breaking News)
The shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, according to the World Bank’s latest Commodity Markets Outlook report.The post Currency depreciations risk intensifying global food, energy crisis – World Bank appeared first on Sri Lanka News - Latest Break...
- Sri Lanka a ‘warning sign’ for countries with high debt levels and limited policy space – IMF (Category: Breaking News)
- No inflation respite for Asia despite fall in food, fuel prices (Category: Business)
- Recession risk unless oil prices fall further (Category: Business)
- World Bank’s Malpass, IMF’s Georgieva see rising risks of Global Recession (Category: Breaking News)
[…]The post ‘Make The Economy Scream’: Whither The Asian 21st Century? appeared first on Colombo Telegraph.
- Beyond The Myth Of TINA To The IMF: The New Development Bank In The Asian 21st Century (Category: Breaking News)
- The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid A... (Category: Breaking News)
- IMF, Sri Lanka’s Resource Curse & Privatization Of The Central Bank (Category: Breaking News)
- Channel 4’s Easter Sunday: The IMF Descends Amid An Over The Horizon Operation Staring ‘Sonic-So... (Category: Breaking News)
Tens of thousands of civilians and Russian-appointed officials are being moved out of Ukraine’s southern Kherson region ahead of a Ukrainian offensive, says the Russia-installed local leader. Vladimir Saldo said all Russian-appointed departments and ministries would cross the Dnieper river
- Massive Russian strikes target energy grid in Ukraine (Category: Breaking News)
- Putin signs Ukraine annexation laws amid military setbacks (Category: Breaking News)
- Zelensky denies Ukraine attacked Putin or Moscow (Category: Breaking News)
- Rishi Sunak visits President Zelensky in Kyiv as he pledges £50m in aid (Category: Breaking News)
There are no price controls on bread
- Bakery owners in Sri Lanka lament the loss of business due to increased wheat flour prices (Category: Breaking News)
- Sri Lanka bakery owners shift price control drumbeat from eggs to wheat flour (Category: Breaking News)
- Bread Prices Increased (Category: Breaking News)
- Wheat Flour Prices Push Bakers Out Of Business (Category: Breaking News)
[…]The post Putin’s Last Stand appeared first on Colombo Telegraph.
- Russian Presidential Election Results (Category: Breaking News)
- Vladimir Putin, Xi Jinping & Joe Biden (Category: Breaking News)
- Ancient Values Influence Behaviour Centuries Later (Category: Breaking News)
- The Ugly New Face Of Terrorism (Category: Breaking News)
Western countries this week ratcheted up their criticism of China, the world's largest bilateral creditor, as the main obstacle to moving ahead with debt restructuring agreements for the growing number of countries unable to service their debts.The post Global finance leaders single out China as barrier to faster debt relief appeared first on Sri Lanka News - Latest Breaking News in Sri Lanka - ON...
- Yellen ‘eager’ to work with China on debt, other global challenges (Category: Breaking News)
- Janet Yellen warns United States could run out of cash by June 1 (Category: Breaking News)
- Janet Yellen warns US could run out of cash by June 1 (Category: Breaking News)
- India a trusted trading partner in ‘friendshoring’ strategy: US Treasury Secretary Janet Yellen (Category: Breaking News)
[…]The post IMF Must Become More Than Just A Debt Collector For Private Creditors appeared first on Colombo Telegraph.
- Hedge funds holding up vital debt relief for Sri Lanka (Category: Breaking News)
- Some creditors want to restructure Sri Lanka’s debt without China (Category: Breaking News)
- The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid A... (Category: Breaking News)
- China holds key to Sri Lanka’s debt restructuring to ease economic crisis (Category: Breaking News)
[…]The post How We Came To This Pass: A Quest For Scapegoats appeared first on Colombo Telegraph.
- How We Came To This Pass – The Aragalaya Challenge (Category: Breaking News)
- How We Came To This Pass – On The “Non-Rule Of Law System” (Category: Breaking News)
- Two Challenges: Economic Recovery & Political Devolution – IV (Category: Breaking News)
- How We Came To This Pass – Waiting On IMF (Category: Breaking News)
India is considered one of the potential superpowers of the world. This possibility has been attributed to many indicators, mainly demographic trends and a rapidly growing economy and military. India became the fastest-growing economy in the world in 2015, with estimated GDP growth of approximately 5%. There is no stopping India which is celebrating eight […]
- India’s commitment to climate change an example to the world! (Category: Breaking News)
- India makes it happen, enters the multi-billion dollar defence market (Category: Breaking News)
- India will be a developed nation by 2047, its economic growth ‘natural by-product’ of 9 years of... (Category: Breaking News)
- Myanmar Ports key to China’s Strategy of Controlling Indian Ocean (Category: Breaking News)
The Central Bank of Sri Lanka (CBSL) today said that it is Ânot in a position to consider favorably to the request to operate Russia s MIR bankcards within the country s banking system due to the US sanctions on the payment system.
Sri Lanka today confirmed reports that it will not accept the MIR Russian card payment system. The Central Bank of Sri Lanka (CBSL) said that due to US sanctions on the MIR payment system, as confirmed by the Ministry of Foreign Affairs in Sri Lanka, the CBSL is not in a position to consider favorably, […]
- Air France and KLM to resume flights to Sri Lanka (Category: Breaking News)
- Channel 4 video on Sri Lanka not removed as claimed by Namal (Category: Breaking News)
- Fuel shipments scheduled to begin arriving from Friday (Category: Breaking News)
- Sri Lanka repatriates 19 Indian fishermen (Category: Breaking News)
World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation remained a continuing problem after Russia s invasion of Ukraine.
Persistently high inflation remains a key policy concern for the Reserve Bank, which has raised rates aggressively so far this year, but the pressure might ease next fiscal assuming normal rains and further normalisation of global supply chains without any exogenous shocks, according to an RBI report. The Reserve Bank of India (RBI) expects retail inflation to come under control at […]
- Central Bank of Sri Lanka expects economic recovery in 2023 (Category: Breaking News)
- Indian economy on course to achieve 8-8.5% growth, says Finance Ministry (Category: Breaking News)
- Value Added Tax amendment hits inflation target (Category: Breaking News)
- Central Bank of Sri Lanka further reduces policy interest rates (Category: Breaking News)
My final column set out a 10-point highway map for vitality atmanirbharta (Constructing the long run, IE September 5). On this article, I’ll elaborate on considered one of them: The significance of pure fuel because the bridge gasoline in direction of that aim. The set off for this elaboration is the announcement on the finish […]
- Pharmaceutical industry warns against unilateral decision on pricing (Category: Breaking News)
- Bondholders and Sri Lanka fail to agree on restructuring terms (Category: Breaking News)
- Government to register fuel consumers at fuel stations (Category: Breaking News)
- PUCSL Chairman claims fuel price can be reduced further (Category: Breaking News)
A look at global debt statistics would show that almost all countries, irrespective of their economic status, obtain loans. The USA, the second richest country on the basis of PPP index, has a debt burden of more than 100% of their GDP, which is much more than some of the developing countries such as Brunei […]
- Forbes: Lanka, Pakistan and Maldives among biggest debt burdens to China (Category: Breaking News)
- Debt Trap Lessons (Category: Breaking News)
- Central Bank eyeing USD 8 -10 billion currency reserves in 3-4 years (Category: Breaking News)
- Ranawaka: It’s possible to prosecute those who bankrupted country (Category: Breaking News)
[…]The post The Paris Club, Dollar Debt Colonialism & Asia’s New “Donors”: Reforming The International Aid Architecture? appeared first on Colombo Telegraph.
- Debt Restructuring As Rocket Science: The IMF, Green, Blue & Pink-Washing BlackRock? (Category: Breaking News)
- ‘Make The Economy Scream’: Whither The Asian 21st Century? (Category: Breaking News)
- Gota Back In The USA & A Chilling Killing: Welcome To 2023 A (Virtual) Realty In A Post-Truth Wo... (Category: Breaking News)
- Alternatives To The IMF & The Future Of The Welfare State: Beyond The Blame Game Between Superpo... (Category: Breaking News)
Japan has placed preconditions in order to support Sri Lanka’s debt issue. Finance Minister Shunichi Suzuki said that Japan is prepared to “do its part” over Sri Lanka’s debt issue. However, he said that other creditors, such as China and India, should also be involved in efforts to resolve it. Suzuki made the remarks after […]
- Japanese Finance Minister Shunichi Suzuki to visit Sri Lanka (Category: Breaking News)
- Japan welcomes coordinated debt restructuring program for Sri Lanka (Category: Breaking News)
- Japanese Finance Minister calls for talks on Sri Lanka (Category: Breaking News)
- Japan calls for creditor nations’ talks on Sri Lanka debt restructuring (Category: Breaking News)
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