Sri Lanka Tea Board promotes Ceylon tea in FOODEX 2023 in Tokyo
The Sri Lanka Tea Board, with the assistance of the Sri Lanka Embassy in Japan, showcased ‘Ceylon Tea’ at the 48th International Food and Beverage Exhibition FOODEX 2023 in Tokyo, which is the leading food and beverage tradeshow in Asia.
JAAF welcomes IMF the endorsement of SL bail out package
The Joint Apparel Association Forum (JAAF) yesterday said it welcomes the progress made by the Sri Lankan authorities in securing financing assurances from China, India and the Paris Club creditors, paving the way for the IMF (International Monetary Fund) to consider approval of the long-awaited $ 2.9 billion bailout package.
New plane orders take off in India's aviation market
A series of record airplane orders is turning India into the aerospace industry's hottest growth market. Air India is on a buying spree, likely to be followed by IndiGo, and it will make Airbus and Boeing even richer.
Sri Lanka’s economy’s contraction persists in this year as well
Hot on the heels of the worst ever contraction of 7.8% in 2022, the economy’s struggle is persisting and recovery remains most challenging this year as well judging by the latest update from the Purchasing Managers Indices.
Parent of Silicon Valley Bank seeks bankruptcy protection
SVB Financial Group, along with its CEO and its chief financial officer, were targeted this week in a class action lawsuit that claims the company didn't disclose the risks that future interest rate increases would have on its business.
Infant left in a train: Couple says they will be legally married for child’s well-being
The unmarried couple who had abandoned a 13-day-old infant in the toilet of the Batticaloa-bound Meenagaya express train today sought court’s permission for the care and full custody of their child after insisting that they will be legally married for the child’s well-being.
Credit Suisse borrows more than $50 billion from Swiss National Bank
Credit Suisse said Wednesday it would borrow up to 50 billion Swiss Francs ($53.7 billion) from the Swiss National Bank just hours after the central bank offered up a loan to keep the beleaguered bank afloat and reassure investors.
Can't print ballot papers as no funds received- Govt. printer informs EC
Government Printer Gangani Kalpana Liyanage informed the Election Commission yesterday that since there is no sign of receiving money from the Treasury, they cannot start printing ballot papers for the forthcoming Local Government elections.
Central Bank disputes Fitch Solutions’ forecast on rupee
Disputing the grim forecast of Sri Lanka’s exchange rate by Fitch Solutions by the year-end, Central Bank Governor Dr. Nandalal Weerasinghe raised concerns on the basis of the forecast while stressing that such long-term predictions on exchange rate are not prudent.
Proposed CB law will pave way for unpopular but essential decisions
The new Monetary Law Act, which aims to grant independence to the Central Bank with enhanced accountability, will empower the monetary authority to make unpopular but essential decisions in prioritising price stability in the country under a flexible inflation target framework, a top official said.
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In search of a scapegoat: Who is at blame for the fall of SVB?
As the dust settles around the shocking collapse of Silicon Valley Bank and analysts begin to assess the damage, an important question has emerged: Who should we blame for this mess?
Submit accounts or face termination: EC warns political parties
Failure to submit audited statements of accounts for the year 2021 within 14 days will result in the termination of the right to be treated as a recognized political party, the Election Commission informed political parties today.
President assures transparent, fair debt restructuring effort
In an open letter to Sri Lanka’s official bilateral creditors, President Ranil Wickremesinghe yesterday assured that safeguards will be put in place to ensure equitable burden sharing and comparability of treatment.
Economy suffers worst contraction in 2022
Sri Lanka’s economy suffered its worst fall in 2022, with the GDP contracting 7.8 percent as the further quarter economic growth clocked in at negative 12.4 percent.