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VIDEO: Why Elon Musk is offering to buy Twitter for USD 43 billion
Elon Musk offered to buy Twitter for USD 43 billion, saying he wants to turn the social media platform into the world’s “platform for free speech.”
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Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘CC’. The issue ratings on foreign-currency bonds issued on international markets have also been downgraded to ‘C’ from ‘CC’. The Long-Term Local-Currency IDR has been affirmed at ‘CCC’ and the Country Ceiling at ‘B-‘. A full list of rating actions […]
Shamindra Marcelline receives CEO of the year 2022 award
Shamindra Marcelline, Chief Executive Officer of People’s Leasing & Finance has been bestowed with the award ‘CEO of the Year 2022’ from Sri Lanka Best Employer Brands Award 2022. The award, certified by the World Federation of Human Resources Professionals and endorsed by CHRO Asia, recognises leaders of organizations who have ‘contributed to the growth of […]
Sri Lanka suspends normal debt servicing; announces interim policy on servicing external debt
Sri Lanka’s government has suspended the normal debt servicing of all affected debts, for an interim period pending an orderly and consensual restructuring of those obligations in a manner consistent with an economic adjustment program supported by the IMF. Announcing an interim policy regarding the servicing of Sri Lanka’s external public debt, the Ministry of […]
How is an economic crisis affecting people?
People across Sri Lanka are struggling to get hold of daily essentials as the country faces its worst economic crisis in decades. Sri Lanka is mired in public debt after revenue from tourism evaporated in the wake of the coronavirus pandemic. With the country’s foreign currency reserves dwindling and foreign debt payments around the corner, […]
Sanjeeva Jayawardena & Ranee Jayamaha to continue to serve on Monetary Board: CB Governor
President’s Counsel Sanjeeva Jayawardena and Dr. Ranee Jayamaha, appointed members of the Monetary Board, have acceded to continue to serve on the Monetary Board, Central Bank Governor Dr. Nandalal Weerasinghe said. “As the newly incumbent Governor of the Central Bank of Sri Lanka (CBSL), I am delighted that Mr. Sanjeeva Jayawardena, President’s Counsel and Dr. […]
Technical negotiation with IMF started; RFPs to be called to appoint advisors for debt restructuring
Sri Lanka’s Central Bank has already started technical negotiations with the International Monetary Fund for an IMF program and appointing financial and legal advisors for debt restructuring will be expedited, new Central Bank Governor Nandalal Weerasinghe said. “I want to make it very clear that I am going to exercise the powers vested with the […]
Central Bank significantly tightens its monetary policy; decides to increase SDFR & SLFR by 700bps
The Monetary Board of the Central Bank at its meeting held today has decided to increase the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 700 basis points to 13.50 percent and 14.50 percent, respectively. The Board, having noted the inflationary pressures that could further intensify […]
MP should declare assets, have age limits: Tharaka Balasuriya tells Paliament
Sri Lanka Podujana Peramuna (SLPP) Parliamentarian and State Minister of Regional Co-operation Tharaka Balasuriya says all parliamentarians should declare their assets and also be held accountable through the Attorney General. “This will help to refute widespread public allegations of corruption,” he told Parliament yesterday. “I have a few suggestions to make, which I feel would […]
Ready to join interim government on condition of rebuilding economy: SJB tells government
Samagi Jana Balawege MP Eran Wickremaratne stated in Parliament today that if the Prime Minister agrees to the proposal to abolish the executive Presidency, as intimated in Parliament, the main opposition is ready to join an interim government at the invitation of the government and take up the responsibility of reviving the economy tomorrow. The […]
Nandalal Weerasinghe appointed as CBSL Governor; K M M Siriwardena new Finance Ministry Secretary
Dr. Nandalal Weerasinghe was appointed as the Governor of the Central Bank of Sri Lanka while K.M.M. Siriwardena was appointed as the new Secretary to the Ministry of Finance. President Gotabaya Rajapaksa handed over the letters of appointment this evening (07). Dr. Weerasinghe, who has vast experiences in the financial sector, served as the Alternate […]