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Sri Lanka
Imran Khan invites Sri Lanka to use BRI and CPEC to reach out to Central Asia
By P. K. Balachandran
COLOMBO – Visiting Pakistan Prime Minister Imran Khan on Tuesday (23) invited Sri Lanka to participate in the (China-sponsored) Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC) because…
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Chandra Jayaratne calls for intellectual debate on CBSL monetary management policies and practices
COLOMBO - Good governance activist Chandra Jayaratne has written an open letter to the Governor of the Central Bank, Prof. W. D. Lakshman, requesting a public participative intellectual debate on the present external sector monetary…
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Introducing Israeli entrepreneurs to investment opportunities in Sri Lanka
JERUSALEM – There are countries that are frequently in the news in Israel, such as the US, the UK, Russia, India and China, and those that seldom appear unless that country is undergoing political strife or martial war, such as Myanmar.…
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Sri Lanka import ban takes the spice out of life
By Amal Jayasinghe
COLOMBO - An import ban in cash-strapped Sri Lanka is leaving a bad taste in the mouths of its curry lovers, depriving them of vital turmeric supplies and encouraging budding smugglers to take their chances with the…
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Stock market falls 6.5% wiping out Rs 245bn
COLOMBO – Sri Lanka stocks plunged 6.5% Tuesday (2) wiping out Rs 245 billion from stock values after making steep gains over several weeks on the back of low interest rates and strong earnings in some firms, brokers said.
Trading was…
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Govt. calls for joint proposal to share 49% stake in Colombo port’s East Container Terminal
By P. K. Balachandran
COLOMBO - The Sri Lankan government has asked stakeholders in Colombo Port’s East Container Terminal (ECT) project to come up with a joint proposal to share a 49% stake in it.
The Chairman of the Sri Lanka Ports…
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Fitch revises ratings of 9 banks, financial institutions after sovereign downgrade
COLOMBO - Fitch Ratings has revised the National Long-Term Ratings of Sri Lankan financial institutions following the recalibration of the agency's Sri Lankan national rating scale. The recalibration is to reflect changes in the relative…
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Banks ordered to delay dividends, profit repatriation, curb ads, travel
COLOMBO – Banks in Sri Lanka have been ordered to delay dividends and foreign banks’ gains to halt profit repatriation until the 2020 accounts have been audited, and cut some spending in a bid to conserve capital and liquidity.
Banks…
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Govt. eyes artificial intelligence for bank regulation
By Mahadiya Hamza
COLOMBO– Sri Lanka is looking at artificial intelligence and machine learning to improve off-site supervision of banks as part of an overall drive to boost its techno-regulation framework and supervision, Central Bank…
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Sri Lanka pleads for debt rollover as economy falters
COLOMBO - Recession-hit Sri Lanka appealed Tuesday (12) for international investors to roll over bonds maturing this year, a further indication of the island nation's dire financial situation.
The South Asian nation's tourism- and…
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