The project will support weather forecasting, warning, and flood resilience in the Kelani river basin The Government of Sri Lanka and the World Bank signed a $92 million financing agreement for the Climate Resilience Multi-Phased Program Phase I Project. This project is expected to benefit around 11.2 million people across the country by modernizing the weather,…
EXPO 2020 DUBAI is the latest edition of World Expos held around the world since 1851 and will be the first ever to be held in the Middle East, Africa, and South Asia. Sri Lanka will participate in the mega-event which commences in October (01st October 2021 – 31st March 2022) and is expected to…
Headline inflation, as measured by the year-onyear (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100), decreased marginally to 6.7 per cent in August 2021 from 6.8 per cent in July 2021. This decline was entirely due to the statistical effect of the high base prevailed in August 2020. Meanwhile, Food inflation (Y-o-Y) increased marginally to 11.1 per cent in August…
The Central Bank of Sri Lanka (CBSL) is pleased to announce the appointment of Assistant Governor (AG) J P R Karunaratne as the Secretary to the Monetary Board (SMB) with effect from 15th September 2021. AG J P R Karunaratne holds a Master of Commerce Degree in Finance from the University of New South Wales,…
The Silk Road Journal by Mahika Ming Chinese nationals scattered across the globe celebrated the Mid-Autumn festival on the 21st of September cherishing the memories of loved ones. The celebrating of the Mid-Autumn festival according to Chinese sources dates back about 3000 years to ancient moon worshiping traditions. This intangible cultural heritage was officially listed…
The Hon. Speaker Mahinda Yapa Abeywardena endorsed his certificate on the Securities and Exchange Commission of Sri Lanka Bill today (21). The Bill was presented by the Minister of Finance in Parliament on 9th of July, 2021 which was published in the Gazette on 28th of June, 2021. Accordingly, the Securities and Exchange Commission Act…
Global stock markets have been on high alert as crisis-hit Chinese giant Evergrande faces a key test this week. BBC – The world’s most indebted real estate developer is due to make interest payments of $84m (£61m) on its bonds this Thursday. Earlier in the week, the company started to repay investors in its wealth…
NEW YORK/BOSTON/HONG KONG, Sept 21 (Reuters) – The risks of China Evergrande Group (3333.HK) defaulting on its mountain of debt loomed large over nervous markets on Tuesday, as investors looked for signs of intervention by Beijing to stem any potential domino effect across the global economy. Analysts played down the threat of Evergrande’s troubles becoming the country’s…
Cautions that the tea industry will be unable to meet export earnings targets as a result of policy changes Due to the shortage of suitable fertilizer, Sri Lanka is unlikely to be able to achieve its export earnings target for 2021, according to the Planters’ Association of Ceylon (PA), which also reiterated calls for a…
CNBC — The Singapore government on Friday announced a series of initiatives to lure “promising high-growth” companies from around the region to list on the local stock market. Singapore is a favored listing destination for REITs, or real estate investment trusts. But the city-state has struggled to attract blockbuster initial public offerings from the tech sector,…
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