President Ranil Wickremesinghe addressed the UN General Assembly in New York on Thursday (21)  on the theme “Rebuilding trust and reigniting solidarity” and its relevance to Sri Lanka’s recent challenges. He mentioned how Sri Lanka faced significant social, economic and political challenges in the past year, including threats to democratic traditions but has managed to […]

Some diplomats in China say they are facing heightened scrutiny and interference from Chinese authorities, which is thwarting foreign officials’ efforts to re-engage with the country after three years of COVID-induced isolation. Twenty envoys from 12 Western and Asian delegations told Reuters that in recent months they had noticed larger police presences around some diplomatic […]

Monday 17th July, 2023 The Parliamentary Select Committee (PSC) appointed by Speaker Mahinda Yapa Abeywardena to investigate the causes of the country’s bankruptcy has come in for severe criticism, and understandably so. The Opposition has rightly pointed out that the PSC cannot be expected to act impartially under the chairmanship of General Secretary of the […]

Redoubling support for war-stricken Ukraine is the Âsingle best way to aid the global economy, US Treasury Secretary Janet Yellen said Sunday, along with boosting emerging economies and tackling debt distress.

Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]

India plans to allow Sri Lanka up to 12 years to repay its debt to help ease the financial burden on the country, India’s Export Credit Guarantee Corporation (ECGC) Ltd’s Chairman-cum-Managing Director M. Senthilnathan said. Sri Lanka, facing its worst economic and political crisis in over seven decades, owes $7.1 billion to bilateral creditors— $3 […]

CP Chairman DEW G says lawmakers here should be aware of what is going on in the world. The Parliament cannot turn a blind eye to global developments, the former MP said, pointing out that the ongoing Ukrainian crisis underscored the need for greater understanding of international affairs as the rapid developments taking place with […]

Crisis-hit Pakistan has reached a staff-level agreement with the International Monetary Fund (IMF) over $3bn (£2.4bn) of funding. The deal, which still needs to be approved by the global lender’s board, comes after an eight-month delay. The South Asian nation is facing its worst economic crisis since independence from Britain in 1947. To help secure […]

By Chandre Dharmawardana chandre.dharma@yahoo.ca According to a recent news report (The Island 23rd June 2023), Minister Mahinda Amaraweera has claimed that the “agricultural sector to be transformed into an export-oriented economy”! This is a surprising statement since the plantation

by Rajan Philips Last week saw a spate of summits underscoring the global economic and geopolitical headwinds that governments and countries have to cope with and navigate through. First, there was the visit to China by the US Secretary of State Antony Blinken. This was followed by a state visit to Washington by India’s Prime […]

WASHINGTON —  Indian Prime Minister Narendra Modi told U.S. lawmakers Thursday the United States-India partnership is bound by the shared values of respecting debate and equality in a democracy. “The U.S. is the oldest and India the largest democracy,” Modi said, addressing a joint meeting of the U.S. Congress. “Our partnership augurs well for the […]

CNN- Indian Prime Minister Narendra Modi basked in the most lavish honors that the US can bestow on a visiting leader. But for much of his state visit, the specter of an uninvited guest hovered over Washington and the future of US-India relations. China – and the growing belief that the US is on a collision course with […]

WASHINGTON, June 22 (Reuters) – U.S. President Joe Biden and Narendra Modi hailed a new era in their countries’ relationship after the White House rolled out the red carpet for the Indian prime minister on Thursday, touting deals on defense and commerce aimed at countering China’s global influence. “Two great nations, two great friends, and […]

By Prabhat Patnaik After Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies and donor nations. Though the […]

By Y P Prakash The growth of regional industries is crucial for India to realize its ambitions of becoming a global manufacturing hub, and India’s potential in this regard is undeniable. The International Monetary Fund predicts that India’s GDP will grow by 6.1% in 2023, surpassing China’s projected growth of 4.4%. Furthermore, India is expected […]

A big Polish chicken producer has been knocking on China’s door for eight years without selling a single drumstick, but hope springs eternal according to one of its representatives. Wipasz deputy sales director Rafat Koztowski attended the China-CEEC Expo & International Consumer Goods Fair in Ningbo, Zhejiang province, last month on his second visit to China since […]