(Reuters) – Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday. Sri Lanka is inching out of its worst financial crisis in decades, triggered by…
The Information and Communication Technology Agency (ICTA) of Sri Lanka is pleased to announce a pivotal advancement in public service delivery with the launch of the “Digital Government Forms” solution. This groundbreaking initiative promises to revolutionize the way government services are accessed and delivered throughout Sri Lanka. The Digital Government Forms project, funded under the…
The Colombo Stock Exchange (CSE), in collaboration with the Global Reporting Initiative (GRI), developed the 3rd version of the sustainability reporting guide, which was ceremonially launched today at the Market Opening Bell Ringing ceremony held at the trading floor of the CSE. The publication is now available at www.cse.lk. Delivering the keynote address at this…
Reuters – Ratings agency Moody’s on Tuesday cut its outlook on China’s government credit ratings to negative from stable, citing lower medium-term economic growth and risks from a major correction in the country’s vast property sector. The downgrade reflects growing evidence that authorities will have to provide financial support for debt-laden local governments and state…
The Ambassador of Sri Lanka to the European Union Grace Asirwatham, who is completing her tour of duty in Brussels by the end of December 2023, had a farewell meeting with Paola Pampaloni, Deputy Managing Director of the Asia Pacific Department of the European External Action Service (EEAS), on November 28, 2023. During the meeting,…
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…
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