Sri Lanka foreign worker remittances record US$800 million in two months this year
Sri Lanka is targeting US$1 billion monthly foreign inflow from worker remittance by end-2023 following its achievement of $800 million foreign inflows with more people leaving the island nation for offshore jobs and due to a sending money by expatriates via formal channels, Foreign Employment and Labour Minister Manusha Nanayakkara said.
Sri Lanka Banks lift overseas spending limits imposed on credit cards
Several credit card issuers have lifted the limits that hitherto had on overseas use, as they saw their foreign currency conditions improving substantially in the recent times, providing them a lot more room to allow their cardholders with higher spending thresholds when they travel overseas.
DR Congo’s Nyamulagira volcano shows signs of eruption
Local authorities in North Kivu, DR Congo including the Goma Volcanological Observatory (OVG), say that current seismic data indicates a movement of magma at shallow depths towards the central crater of Nyamulagira” volcano.
Exam. Dept. to recruit graduates for govt. service after examinations
The Examination Department has planned to conduct examinations to recruit graduates for Government Service as teachers, the Education Ministry said.
Prime lending rate falls sharply
The prime rate fell sharply, despite the Central Bank half-heartedly raising the key policy rates by 100 basis points, reflecting that the most recent policy move is entirely symbolic and has no real impact on the markets.
Shipping industry seeks presidential intervention on regulation changes
While seeking presidential intervention, the Sri Lanka Shippers’ Council (SLSC) warned that the recent decision by Ports, Shipping and Aviation Minister Nimal Siripala De Silva to remove the regulations on freight charges is likely to hurt the competitiveness of Sri Lanka’s exports and result in higher import costs, fuelling inflation.
Banks lift overseas spending limits imposed on credit cards as dollar liquidity improves
Several credit card issuers have lifted the limits that hitherto had on overseas use, as they saw their foreign currency conditions improving substantially in the recent times, providing them a lot more room to allow their cardholders with higher spending thresholds when they travel overseas.
Germany: Flights canceled as workers strike over pay
Flights were canceled in and out of the northern German cities of Bremen and Hamburg, and the capital, Berlin, as workers went on strike on Monday.
India eyes Hambantota Port for electric vehicle transshipments
With India looking very positively at becoming a manufacturing hub for electric vehicles (EV), joint venture partners are looking very closely at Hambantota International Port (HIP) as the key transshipment point for their markets in the east and west of the island.
SL’s worker remittances double to US$ 407.4 million in Feb 2023
Sri Lanka is taking every possible step to restore worker renitences to the national annual average of US$ 7 billion which will help the island nation to come out of the ‘economic abyss’ faster than the unlocking of IMF’s four year $ 2.9 billion bail out loan by March 20, finance ministry sources said.
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LG polls are so ‘critical’ – US Ambassador
While urging Sri Lanka’s legal community to be a strong and steady force for the rule of law and justice for all, US Ambassador Julie Chung yesterday said that the Local Government elections are so ‘critical’ for Sri Lanka.
Court issues arrest warrant on Wimal Weerawansa
The Colombo Chief Magistrate today issued a warrant for the arrest of Parliamentarian Wimal Weerawansa for not being present in Court in connection with a case filed against him by Cinnamon Garden police.
US banks could be sitting on unrealized losses of $620 billion
Silicon Valley Bank's collapse last week sent tingles of panic down investors' spines as it highlighted a larger problem across the banking sector: The widening gap between the value large lenders place on the bonds they hold and what they're actually worth on the market.
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Aston Martin DBX (550 hp)