Author: lbostgadmin
‘s VR &””
Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’ from ‘RD’ (Restricted Default). The rating does not carry an Outlook because of the high volatility at this rating level, in line with Fitch’s rating definitions. At the same time, Fitch has also upgraded BOC’s Viability Rating (VR) to […]
Personal income taxation is a short-term economic development strategy, says Government
According to Dr Kapila Senanayake, Director General of the Department of Financial Policy, the tax on personal income was imposed as a short-term strategy to resurrect the country from the existing economic situation, and this new tax system in Sri Lanka is of a meagre percentage compared to other Asian countries. He also stated that […]
Paris Club creditors provide financing assurances to support IMF’s approval of an EFF for Sri Lanka
Paris Club creditors have agreed to provide financing assurances to support the approval by the IMF Executive Board of the envisaged IMF program for Sri Lanka, which would allow to restore the country’s macroeconomic stability. Releasing a statement, the Paris Club said that they have examined the macroeconomic and financial situation of Sri Lanka, including […]
Foreign Minister Ali Sabry meets US Under Secretary for Political Affairs Victoria Nuland
The Minister of Foreign Affairs at a luncheon meeting with U.S. Under Secretary for Political Affairs Victoria Nuland on 01 February 2023, discussed issues of importance to the two countries in further consolidating Sri Lanka–U.S. bilateral relations. Under Secretary Nuland carried a special message from U.S. President Joseph Biden to President Ranil Wickremesinghe felicitating Sri […]
European Union & FAO to provide fertilizers, seeds & training to vulnerable paddy farmers in Sri Lanka
The European Union (EU) has allocated 4 million Euro (approximately 1,5 billion rupees) in grants for fertilizers, seeds, and training to the most vulnerable farmers, as a response to the agriculture and food security crisis in Sri Lanka. These funds will be implemented by the Food and Agriculture Organization (FAO) in Sri Lanka.The action has […]
‘s 75th Independence Day
A token of 50 buses was handed over to President Ranil Wickremesinghe at the Presidential Secretariat premises today as the second phase of a project to uplift the public transport service in rural areas across the country. A total of 500 buses are to be provided by the Indian Government as a project implemented in […]
‘s loan application to IMF
China’s government on Friday confirmed that it is offering an extension on the debt service due in 2022 and 2023, which means Sri Lanka will not have to repay the principal and interest due on the Export-Import Bank’s loans during that period. “On January 19, the Export-Import Bank of China, as the official bilateral creditor, […]
‘s Bitcoin proposal to fix economy
Sri Lanka’s Central Bank has rejected billionaire venture capital investor Tim Draper’s proposal to introduce a Bitcoin-based solution to fix the economy. The Silicon Valley entrepreneur’s proposal was not well received in a short meeting by the Central Bank Governor Nandalal Weerasinghe. He has argued that the adoption of Bitcoin could help alleviate corruption by […]
Grant of 100 Mn Japanese yen to support reconciliation efforts of Sri Lanka
Takei Shunsuke, the Minister of State for Foreign Affairs of Japan, stated that he is constantly working to support the reconciliation efforts of Sri Lanka and that a grant of 100 million Japanese yen will be given to continue those activities. The Japanese Minister expressed these views in a discussion with the Minister of Justice, […]
VIDEO: Rob Miles discusses ChatGPT & how it may not be dangerous, yet
Rob Miles discusses ChatGPT and how it may not be dangerous, yet.
US President extends warm wishes to Sri Lanka on its 75th Anniversary of Independence
US President Joseph R. Biden, in a warmly worded letter of felicitation, conveyed his best wishes to President Ranil Wickremesinghe and the people of Sri Lanka on the occasion of the 75th Anniversary of Sri Lankan Independence. The US President stated that he looks forward to strengthening and deepening the bilateral friendship even further and, […]
On the 75th, Independence, time to re-plug to the world economy
Advocata Institute As Sri Lanka is inaugurating its political independence of 75 years on February 4th, the burning issue the public is struggling to grapple with, in the recent past, is the worst economic slump. Many factors have contributed to the current economic crisis but protectionism and trade barriers are main elements that have further […]