Pakistan’s Gwadar port which has been taken over by a Chinese firm could guarantee maintenance and supply for China’s naval ships in the Indian Ocean after the new Sri Lankan government declined permission for Chinese vessels to dock in the country. “The Gwadar port will also guarantee China’s naval ships’ maintenance and supply in the…
Sri Lanka’s second Zoological Gardens and the first Open Air Zoo will be opened today. It is part of another stage of the programme mooted throughout the island on behalf of the promotion of the tourism industry. The Zoological Department in collaboration with the Ministry of Tourism and Sports took the initiative of expediting the…
The Commission to Investigate Allegations on Bribery or Corruption has recorded a statement from Central Bank Governor Arjuna Mahendran today (16 April) from 9.00 am to 3.30 pm on allegations against the recent Treasury Bills issue, say his lawyers. Recently, the Central Bank of Sri Lanka announced the issue of Treasury Bonds to the value…
Move over, Beijing. Japan now owns more U.S. government debt than any other country, ending China’s six-year run as the top foreign holder of U.S. Treasuries. Data from the Treasury Department released Wednesday show that Japan owned $1.2244 trillion worth of U.S. government securities at the end of February, compared to $1.2237 trillion for China….
Between 2011 and 2014, 700 million people became account holders at banks, other financial institutions, or mobile money service providers, and the number of “unbanked” individuals dropped 20 percent to 2 billion adults, says a new report released by the World Bank. “Access to financial services can serve as a bridge out of poverty. We…
The Central Bank of Sri Lanka has taken an unexpected move to reduce its policy interest rates which decide the interest rates of Sri Lanka’s commercial banks, from April 2015 though the government is continuing to borrow heavily to cover its expenditures. While the Central Bank of Sri Lanka has taken steps to reduce its…
Colombo bourse started the weekly activities on Wednesday after the celebrations of Sinhala and Tamil New Year and closed on an optimistic note amid unexpected policy rate cut. All Share Price index notably gained 79.97 points or 1.16% to record a 3-week high of 6,981.03 while 20-script S&P SL index gained 52.31 points (+1.35%) to…
Emirates, a global connector of people, places and economies, has announced a second daily A380 service to Zurich, adding 945 seats a week on the route, with 280 in First Class and Business Class. Commencing Thursday 1st October 2015, Emirates flights EK85/86, currently operated by a Boeing 777-300ER, will be upgraded to an A380. The…
Just a few months ago, Asanka Ekanayake was a happy man. He had a stable job, a happy family and was looking forward to the locally celebrated Sinhalese and Tamil New Year with his wife, whom he had married recently. But March changed all that. Young Asanka, who was a senior planning engineer at the…
According to the latest COPE or Committee on Public Enterprises report, there have been 16,712 departures from the Mattala Mahinda Rajapaksa International Airport (MRIA) during the first nine months of 2014, from January to September. According to the report, arrivals at the MRIA have been only 13,371 during this same period. COPE has asked for…
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