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, […]

The Governor of Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe on Tuesday (March 26), asserted that he would not resign over the controversy surrounding the salary increase.

The Central Bank of Sri Lanka (CBSL) says the country s trade services, mainly earnings from tourism have recovered significantly during the first two months of 2024, while the positive momentum of workers remittances also continued.

The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points (bps) to 8.50 per cent and 9.50 per cent, respectively.

52nd Death Anniversary of Philip Gunawardena falls today by Dr. W. A. Abeysinghe The legendary revolutionary and pioneer of the Sri Lankan Marxist movement, Don Philip Rupasinghe Gunawardena, was born on 11 January 1901 in the rural village of Boralugoda in the Hevagam Korale. His father was Don Jakolis Rupasinghe Gunawardena, popularly known as Boralugoda […]

Fergus Cumming, Deputy Chief Economist of the Foreign, Commonwealth and Development Office (FCDO), concluded a three-day visit to Colombo from 18 to 20 March, British High Commission said in a statement. Fergus engaged in constructive discussions with key stakeholders, including the State Minister of Finance, Central Bank Governor, IMF Representatives, Diplomatic counterparts, opposition parties, ...

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 [...

Jammu and Kashmir is experiencing a period of high growth, driven by proactive government policies, strategic investments, and concerted efforts aimed at unlocking the region’s immense potential. • Jammu and Kashmir contributes approximately 0.8 percent to India’s GDP, in alignment with its population share of 0.9 percent and its FDI and exports are expanding, with […]

Jammu and Kashmir is experiencing a period of high growth, driven by proactive government policies, strategic investments, and concerted efforts aimed at unlocking the region’s immense potential. • Jammu and Kashmir contributes approximately 0.8 percent to India’s GDP, in alignment with its population share of 0.9 percent and its FDI and exports are expanding, with […]

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 […]

By Rathindra Kuruwita Governor of the Central Bank, Dr. Nandalal Weerasinghe said that he agrees with the recommendations given by Committee on Public Finance (COPF) on the recent salary increments given to CB employees. Dr. Weerasinghe said the CB has no issue with COPF recommendations but there is a slight problem with the COPF recommendation […]

People’s Bank has been named among the top 20 employers among AICPA and CIMA members in recognition of the bank’s contribution to the growth of management accountancy in Sri Lanka. The award was presented at the AICPA and CIMA Top Employer 2024 Award Ceremony held on recently at the Shangri-La, Colombo. The AICPA & CIMA […]

by Rajan Philips The Election Commission of India has set a staggering 44-day timetable for the country’s 18th Lok Sabha elections, between April 19 and June 1, with the results declared on June 4. There will be seven phases of voting – on April 19, April 26, May 7, May 13, May 20, May 25, […]

The bloodbath candidate by Vijaya Chandrasoma I concluded my essay last week with the prediction that, if Trump does not win re-election in November, “there is little doubt that Trump will, once again, call Foul and refuse to concede defeat. The nation will be plunged into political violence, tantamount to a civil war, for which […]

The Central Bank of Sri Lanka (CBSL) on Saturday (23) said that a majority of senior management and professionals of CBSL have made a collective decision to consider a revision to their salaries that sparked controversy.

By Saman Indrajith Appearing before the COPF (Committee on Public Finance) recently, Dr. Nandalal Weerasinghe said the Central Bank (CB) had no issue with COPF recommendations but it was not possible to implement the COPF recommendation that salary increases at issue be suspended immediately. “The salaries of CB employees for March have already been processed […]

Inflation rate dropped to 5.1 percent in February from 6.5 percent in January, official data showed on Thursday.Food inflation increased from 4.1 percent to 5 percent and non-food inflation dropped from 8.5 percent to 5.1 percent. Sri Lanka’s inflation has been dropping steadily since September 2022, when inflation was at 69.8 percent. The Central Bank […]

After constructive discussions in Colombo, IMF Senior Mission Chief Peter Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 […]

… 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 should take advantage of the continuing external pressure to adopt reforms, build-up […]