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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
- ADB approves $100 million loan to support SMEs in Sri Lanka (Category: Breaking News)
- Debt-ridden Sri Lanka gets US$350m loan boost from ADB (Category: Breaking News)
- Sri Lanka secures ADB grant to pay paddy farmers (Category: Breaking News)
- Overseas travel ban on Basil temporarily lifted (Category: Breaking News)
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
- ADB approves USD 100 million loan to support SMEs in Sri Lanka (Category: Breaking News)
- ADB approves USD 165M loan to provide financing support for Sri Lankan SMEs (Category: Breaking News)
- ADB approves USD 165M loan to provide financing support for Sri Lankan SMEs (Category: Breaking News)
- ADB approves USD 165M loan to provide financing support for Sri Lankan SMEs (Category: Breaking News)
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 […]
- Health sector TUs to resume strike (Category: Breaking News)
- Health unions issue ultimatum to govt. to resolve salary anomaly by end of month (Category: Breaking News)
- Strike paralyses state run healthcare system (Category: Breaking News)
- DAT allowance dispute: 72 health sector unions launch indefinite strike today (Category: Breaking News)
Friday 15th March, 2024 The JVP turned down President Ranil Wickremesinghe’s invitation to a meeting with the IMF, but some of its senior members met a visiting IMF delegation yesterday in Colombo perhaps as part of its strategy to gain political mileage. Whoever would have thought, a decade or so ago, that the JVP leaders […]
- IMF won’t assist if govt. puts off LG polls (Category: Breaking News)
- Reveal plans, uphold transparency (Category: Breaking News)
- CBSL chief expresses optimism (Category: Breaking News)
- Foreign envoys assure support for Sri Lanka to recover from economic crisis (Category: Breaking News)
Peter Breuer, Chief of IMF Mission to Sri Lanka has claimed that the Sri Lankan economy is showing signs of progress. The monetary and fiscal measures like tax increases and particularly the debt moratorium may have resulted in giving some breathing space for the country to recover from the period of extreme hardship caused by […]
- Crashing economies and the South’s narrowing foreign policy options (Category: Breaking News)
- Need for new economic policy for poor countries (Category: Breaking News)
- Dr. Nicholas advises Lanka against swallowing IMF dope (Category: Breaking News)
- Pitfalls of export-led growth (Category: Breaking News)
[…]The post Suspension Of Parate Execution Won’t Do; Establish Bad Bank To Resolve Issue Permanently: Dr. Anil Baddevithana appeared first on Colombo Telegraph.
- Parate execution is the last resort to protect depositors’ funds – SLBA (Category: Breaking News)
- Ministers of Justice and Health on collision course with association of banks (Category: Breaking News)
- Lending In A Recession: Banks Should Do Venture Capital Financing For Startups (Category: Breaking News)
- Only 0.4% of loans recovered using Parate laws – CBSL (Category: Breaking News)
[…]The post Playing The Fiddle While The Country Burns! appeared first on Colombo Telegraph.
- SL Debt Justice Collective Writes Open Letter To IMF On DDO (Category: Breaking News)
- Separation Of Powers, Rule Of Law, Corruption & SL Bankruptcy (Category: Breaking News)
- SL Stands For Sheep Loom: Obedience Above Intelligence (Category: Breaking News)
- SL Stands For Sheep Loom: Obedience Above Intelligence (Category: Breaking News)
[…]The post The Steps To Achieve Justice In Sri Lanka appeared first on Colombo Telegraph.
- Transitional Justice In Sri Lanka: Accomplishments & Challenges In The Post-Civil War (Category: Breaking News)
- Abuses Undercut Proposed ‘Truth Commission’ – Human Rights Watch (Category: Breaking News)
- Too polarized to reconcile? The struggle for transitional justice in Sri Lanka (Category: Breaking News)
- Too polarized to reconcile? The struggle for transitional justice in Sri Lanka (Category: Breaking News)
By Neville Ladduwahetty During President Ranil Wickremesinghe’s India visit in July 2023, five Memorandums of Understanding (MOU) were signed by India and Sri Lanka to establish physical connections between the two countries. This was followed more recently by the launch of the Unified Payments Interface (UPI) – a mechanism that claims to reduce the cost […]
- ‘Is India going to steal land, water and air?’ (Category: Breaking News)
- India assures continued support for SL at Creditors’ Committee along with Japan and Paris Club (Category: Breaking News)
- India to push rupee investments in Sri Lanka (Category: Breaking News)
- PM Modi’s comments: ‘Ensure dignity and respect for Tamils’ (Category: Breaking News)
… asks for reappraisal of pay structure CB never opposed pay hikes for anyone: Governor By Shamindra Ferdinando Chairman of the Committee on Public Finance (CoPF) Dr. Harsha de Silva on Tuesday (05) said what was at issue was the sheer size of salary increase granted to Central Bank (CB) employees. The SJB lawmaker said […]
- CB Governor: It is too late to suspend pay hike for March (Category: Breaking News)
- Central Bank salary controversy: MP finds fault with composition of Governing Board (Category: Breaking News)
- Governor confronted by conundrum over March Central Bank salaries (Category: Breaking News)
- Public Finance committee wants CBSL to defer pay hike (Category: Breaking News)
The gross salary of the lowest ranking employee of the Central Bank of Sri Lanka (CBSL), an Office Assistant – Grade 1, has been increased by 29.53% up to Rs. 188,827 in accordance with a collective agreement, Prime Minister Dinesh Gunawardane told Parliament yesterday. Responding to a question by SJB Colombo District MP S. M. […]
- CBSL requests President for opportunity to explain recent salary hike (Category: Breaking News)
- CBSL denies 70% pay hike (Category: Breaking News)
- President appoints independent committee to review CBSL salary hikes (Category: Breaking News)
- MPs call for abolition of collective agreement (Category: Breaking News)
Sri Lanka's President, Ranil Wickremesinghe, asserted that the nation’s economy is experiencing robust growth due to the government’s initiatives.The post Sri Lanka’s President says Government initiatives drive robust economic growth appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka President Ranil delivers Government’s policy statement in Parliament (Category: Breaking News)
- Sri Lanka expects 1.8% Economic growth in 2024 (Category: Breaking News)
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 (Category: Breaking News)
- President blames Sajith for crisis (Category: Breaking News)
The Sri Lankan government has taken significant steps to revitalize its national carrier, SriLankan Airlines, amidst mounting debt challenges.The post Sri Lanka Government extends deadline for SriLankan Airlines restructuring amid debt crisis appeared first on ONLANKA - Sri Lanka Latest Breaking
- SriLankan Airlines says paid interest on US$ 175 million bond after sovereign debt default (Category: Breaking News)
- SriLankan CEO believes ‘worst is over’, expects $50 Million profit next year (Category: Breaking News)
- Turbulence ahead: Airline on the block in Sri Lanka reforms (Category: Breaking News)
- SriLankan Airlines obtains Government’s approval to recruit foreign pilots (Category: Breaking News)
Political party leaders slammed officials of the Central Bank, including the Governor, for increasing the salaries of bank officials at a time when the country is still recovering from an economic crisis. Central Bank Governor Nandalal Weerasinghe and senior bank officials were summoned for a party
- Central Bank officials summoned to party leaders’ meeting over salary hike (Category: Breaking News)
- Public Finance committee wants CBSL to defer pay hike (Category: Breaking News)
- Muthukumarana sworn in as a Member of Parliament (Category: Breaking News)
- CBSL Governor refuses to resign over pay hike issue (Category: Breaking News)
Pakistan must navigate challenges in the finance sector by diversifying its economic alliances, reducing dependence on singular partners, and negotiating funding arrangements that align with its long-term developmental objectives. The road ahead demands astute diplomatic manoeuvring, a commitment to economic resilience, and a proactive approach to curb corruption and inefficiencies of the Pakistan...
- As economic situation looks gloomy in Pakistan, IMF advises strict measures (Category: Breaking News)
- Amid surge in inflation, Pakistanis face difficulties in performing Haj (Category: Breaking News)
- IMF asks Pakistan to take steps to be able to function as a country (Category: Breaking News)
- SPECIAL: Minority Rights and Electoral Dynamics in Pakistan (Category: Breaking News)
Monday 04th March, 2024 The Central Bank of Sri Lanka (CBSL) is drawing heavy flak for having granted its workers generous pay hikes amidst a crippling economic crisis. Its critics are arguing that such salary increases, allegedly ranging from 29% to 70%, should not have been given at a time
- CBSL denies 70% pay hike (Category: Breaking News)
- MPs call for abolition of collective agreement (Category: Breaking News)
- TUs affiliated to UNP, SLPP, JVP endorsed CBSL pay hikes (Category: Breaking News)
- CB salary controversy: Issue is not increase but size of it, says Harsha (Category: Breaking News)
‘New laws needed to rein them in’ By Shamindra Ferdinando Justice Minister Dr. Wijeyadasa Rajapakse, PC, said that contrary to the Constitution, the Parliament didn’t exercise full control over public finance.The former President of the Bar Association said a new law was required to subject all state enterprises to parliamentary control to prevent further deterioration […]
- SLC, cryptocurrency and repealing of time-tested law (Category: Breaking News)
- Impact of foreign-funded projects on Parliament’s standing as sole sovereign and supreme body (Category: Breaking News)
- Prez should explain why he scrapped time-tested exchange controls – NFF (Category: Breaking News)
- Ranil sworn in before CJ as Acting President (Category: Breaking News)
the Impact of the Economic Crisis. The overestimation is around Rs 140 billion, […]
- IRD’s inability has led govts. to extract unbearable taxes from professionals, honest people (Category: Breaking News)
- NFF accuses SLPP of causing irreversible damage to COPE (Category: Breaking News)
- SJB ready for painful reforms unlike Rajapaksas who only exploited divisions, says MP Hashim (Category: Breaking News)
- CEB to reduce workforce to 18,000 (Category: Breaking News)
Sri Lanka urged members of the UN Human Rights Council not to allow short-term political gains or “domestic vote bank politics” to overtake the work of the Council. Addressing the High-Level segment of the 55th Session of the Council through a pre-recorded video statement Minister of Foreign Affairs, Ali Sabry highlighted that despite the severe constraints […]
- Nineteen Indian fishermen detained in Sri Lankan waters (Category: Breaking News)
- Another 21 Indian fishermen arrested in Sri Lanka (Category: Breaking News)
- Iran’s Foreign Minister to undertake official visit to Sri Lanka (Category: Breaking News)
- Sri Lanka Navy detains 32 Indian fishermen (Category: Breaking News)
By Shamindra Ferdinando With the presidential election scheduled for later this year, political parties represented in Parliament have stepped up efforts to forge alliances. In terms of the Constitution, presidential elections will have to be conducted between Sept 18 and Oct 18, 2024. The last presidential election was held in Nov 2019. Even though the […]
- AKD vows to stop allocating funds for ex-presidents, questions Sagala’s role (Category: Breaking News)
- Ex-SLAF officer sheds light on developments leading to Aragalaya (Category: Breaking News)
- Prez, SLPP urged not to use ex-CJ’s committee to put off next presidential election (Category: Breaking News)
- Ex-COPE Chairman alleges executive intervention in House committees (Category: Breaking News)
The Indian government is working on operationalizing Rupee investments in Sri Lanka in a move to boost Indian investments in its southern neighbor, two people aware of the matter told Mint.The post India to push rupee investments in Sri Lanka appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Indian Government allows Sri Lankans to hold $10,000 worth of rupee in cash (Category: Breaking News)
- Sri Lankan bank opens VOSTRO account in India (Category: Breaking News)
- Sri Lankan Rupee further depreciates against U.S. Dollar (Category: Breaking News)
- India to push rupee investments in Sri Lanka - report (Category: Breaking News)
We, the Central Bank Executive Officers’ Union (CBEOU), as a professional union representing the Executive Officers of the Central Bank of Sri Lanka, wish to clarify some facts, as it was evident that the discourse on the recent salary revision of the Central Bank of Sri Lanka is extremely partial and raised without proper knowledge […]
- COPF recommends deferment of CBSL salary increase (Category: Breaking News)
- CBSL officials summoned by parliamentary committees over 70% salary hike? (Category: Breaking News)
- Over 70% salary hike for CBSL employees: Gevindu demands explanation from FM (Category: Breaking News)
- 29% - 89% salary hikes given to CBSL employees- PM reveals in parliament (Category: Breaking News)
[…]The post Navigating The Economic Reawakening & Sustainable Growth appeared first on Colombo Telegraph.
- Can Sri Lanka Drive Itself From Bankruptcy To Prosperity In 2023? (Category: Breaking News)
- Budget 2023 Will Be The Acid Test Of RW’s Magic Wand (Category: Breaking News)
- Crisis-Hit Sri Lanka Economy (Category: Breaking News)
- Bankrupt Sri Lanka Celebrated Independence, But Now It Is Back To Hard Economic Realities (Category: Breaking News)
[…]The post Gazan Fire Fuelled By Western Genocide Enablers With A Scrambled Moral Compass! appeared first on Colombo Telegraph.
- Partial West & Shameful Muslim Leaders Complicit In Israel’s War Crimes In Gaza (Category: Breaking News)
- Futility Of A ‘UN Day Of Palestinian Solidarity’ – In A World Carrying Its Past Guilt! (Category: Breaking News)
- From ‘Never Again’ To ‘Here Again’ – World’s Shameful Indifference To Israeli Impunity! (Category: Breaking News)
- If It Is Not ‘Genocide’ In Gaza, Then What Should We Call It? (Category: Breaking News)
ECONOMYNEXT –The Asian Development Bank (ADB) expects Sri Lanka not to reverse its International Monetary Fund-led policy reforms despite elections soon, the ADB Country Director for Sri Lanka Takafumi Kadono said. The island nation has witnessed repeated reversals of policy reforms in the past due to greedy politicians who misled the people to vote for […]
- ADB approves USD 350 million loan for economic stabilisation in Sri Lanka (Category: Breaking News)
- Uncertainty over impending elections could risk Lanka’s economic recovery: ADB (Category: Breaking News)
- ADB approves $350 mn for Sri Lanka Economic Stabilization Programme (Category: Breaking News)
- ‘Effective management of climate vulnerability jeopardized by political instability’ (Category: Breaking News)
Senior U.S. diplomat Richard Verma on Friday met Sri Lankan President Ranil Wickremesinghe and Foreign Minister Ali Sabry in Colombo, and discussed Sri Lanka's economic recovery and progress on its IMF program, the U.S. State Department said.The post Senior U.S. official discusses Sri Lanka’s IMF program in Colombo appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Senior US official discusses Sri Lanka s IMF program in Colombo (Category: Breaking News)
- U.S. Deputy Secretary of State commends Sri Lanka’s economic efforts (Category: Breaking News)
- U.S. Deputy Secretary Verma commends Sri Lanka s economic recovery efforts (Category: Breaking News)
- U.S. Deputy Secretary of State calls on President Ranil (Category: Breaking News)
Sri Lanka said on Wednesday it had exported tea worth US$20 million to Iran to partially repay its US$251 million oil debts, with Colombo saying Tehran’s visiting foreign minister had expressed “satisfaction” at the deal.The post Sri Lanka settles US$ 20 million Iranian oil debt with tea appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka repays $20m Iranian oil debt with tea (Category: Breaking News)
- Lankan, Iranian officials discuss how to boost SL tea exports (Category: Breaking News)
- Iran to double tea imports from SL (Category: Breaking News)
- Sri Lanka partially repays Iranian oil debt with USD 20 million worth of tea (Category: Breaking News)
A culture-based local solution for Sri Lanka BY Prof Nimal Gunatilleke The Thirty-seventh Session of the UN-FAO Regional Conference for Asia and the Pacific (APRC) is being held as a high-level Ministerial in-person event in Colombo, Sri Lanka from 19 – 22 February 2024. This was preceded by the Senior Officers Meeting (SOM) held virtually […]
- Growing challenge of food insecurity and malnutrition in Sri Lanka amidst macroeconomic crisis (Category: Breaking News)
- Kaviratne reveals ignominious ratings of the country (Category: Breaking News)
- Poverty, Aswesuma and food security (Category: Breaking News)
- Undernourishment as well as over-nutrition plaguing some of SL’s schoolchildren – minister (Category: Breaking News)
Sri Lanka s inflation is expected to return to the government s 5% target starting from the last two quarters of the year, a Central Bank of Sri Lanka (CBSL) official said on Wednesday, as the economy stabilises from a crippling financial crisis.
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