Minister of Justice, Prison Affairs and Constitutional Reform, Mr. Wijayadasa Rajapakse, unveiled plans to introduce a new legislative framework aimed at regulating microfinance institutions operating within the country. Expressing deep concern regarding the unregulated status of certain microfinance entities, Minister Rajapakse emphasized the necessity for decisive measures. He underscored the intention to establish an independent…
LONDON/SINGAPORE, Dec 4 (Reuters) – Bitcoin has broken above $40,000 for the first time since May 2022 as it rides a wave of momentum on broad enthusiasm about U.S. interest rate cuts and as traders bet on the imminent approval of U.S. stock market-traded bitcoin funds. The world’s biggest cryptocurrency hit as high as $41,748…
President Ranil officially launched the International Climate Change University (ICCU) while in the UAE. It will be good for Sri Lankans irrespective of race & religion if they understand the serious threat President is talking about. The global community realizing the seriousness of climate change is working hard for an energy revolution with low carbon…
Sri Lanka’s merchandise exports decreased by 14.6% to US$ 898.0 Million in October 2023 compared to October 2022 as per the provisional data released by the Sri Lanka Customs. Also, it is a 13.13% decrease when compared to the value recorded in September 2023. The decline in merchandise exports is due to decreased demand for…
The Financial Stability Board (FSB) Regional Consultative Group for Asia (RCG Asia) met on 29 November 2023 in Hong Kong SAR and discussed recent financial market developments and their impact on the region, vulnerabilities arising from non-bank financial intermediation, the deepening of the sovereign-bank nexus in some emerging market and developing economies, and ways to…
Reuters – Next year is looking like a banner year for cruise vacations, as travelers across all income and budget levels have been booking voyages at greater volumes than even before the COVID-19 pandemic, according to U.S. cruise operators and travel agents. Travelers are looking to cruises in 2024 because they are still cheaper than land-based alternatives….
Fitch Ratings – Global sovereign credit conditions are neutral entering 2024, as moderately weaker global economic growth and persistent strains on fiscal positions are balanced by improvements in inflation dynamics and forecast reductions in most central bank policy rates, Fitch Ratings says in its Global Sovereigns Outlook for 2024. Risks to the outlook centre on…
A significant milestone in the intricate tapestry of international relations was woven as a collaborative research endeavour that bridged the historical gap between Sri Lanka and the Netherlands. Six remarkable artefacts, long ensconced in the renowned Rijksmuseum collection in the Netherlands, underwent meticulous scrutiny, leading to a revelation that would reshape the diplomatic landscape between…
The Colombo Stock Exchange (CSE) conducted an Issuer Forum titled “ඔබේ ව්යපාරයේ ඉදිරි ගමනට නව ප්රවේශයක් (A New Approach for the Future of Your Business), in association with the U.S. Agency for International Development (USAID), on 29th November 2023 in Kandy. The objective of the forum was to provide an insight for small and medium…
SriLankan Airlines has introduced double daily flights between Colombo and Mumbai, multiplying the convenience for passengers travelling to and from India’s financial and entertainment capital. The new double daily service to Mumbai will not only give a 50 per cent boost to SriLankan’s capacity on its Mumbai route, but will also strengthen the airline’s already…
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