Seven countries, including Sri Lanka and Chile, have agreed to stop using the dirtiest fossil fuel
Seven countries have signed a pledge initiated by the United Nations to stop building new coal power plants, with the aim to gather more signatures before the global climate summit COP26 in…
Inflation Spectre Floats on Developing World’s Horizon including Sri Lanka
By Rabah Arezki and Jean-Pierre Landau As the global economy begins to emerge from the COVID-19 crisis, managing inflation risks will be much more challenging in developing countries than in…
Sri Lanka’s Agripreneurs Alarmed Over Contaminated Organic Fertilizer Sample Imported From China
Sri Lanka Agripreneurs’ Forum (SLAF) expressed grave concerns regarding the importation of a batch of contaminated organic fertilizer following confirmation from the Minister of Agriculture and National Plant Quarantine Services…
New Fortress and Sri Lanka’s Government inked the definitive agreement for LNG deal
United Stated-based New Fortress Energy Inc. (“New Fortress”) and Sri Lanka’s Government have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (“WCP”), the owner of the 310…
Natural Gas Prices Soar Worldwide In A Mark Of Extreme Volatility
Natural gas prices are soaring around the world in what has become something of a global supply crunch. Prices in the U.S. recently hit a 7-year high, natural gas prices…
Sharmini Coorey to Retire as Director of the IMF’s Institute for Capacity Development
International Monetary Fund (IMF) Managing Director Kristalina Georgieva today announced that Sri Lankan national Sharmini Coorey who has been the Director of the Institute for Capacity Development (ICD) since 2012,…
Back to the ‘smaller pond’: MSCI to downgrade Pakistan to Frontier Market
Pakistan was downgraded from its status as an emerging market, a little over four years after it was reclassified from the Frontier Markets (FM) Index by Morgan Stanley Capital International…
Sri Lanka claims $267 billion worth of oil and gas deposits in the Mannar Basin
Sri Lanka has $267 billion worth of oil and gas resources hidden in the Mannar Basin in the North-West of the country where the government stands to gain $ 133.5…
DIMO and Komatsu mark 50 years of transforming Sri Lanka through world-class Heavy Machinery
DIMO, one of the leading conglomerates in Sri Lanka, is celebrating its partnership of 50 years with the world-renowned heavy machinery giant Komatsu in Sri Lanka at the same time…
Sri Lanka’s FIU imposes financial penalties on DFCC Bank and Union Bank for non-compliance with AML/CFT rules
Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the Financial Intelligence Unit (FIU) imposed financial penalties on Union Bank of Colombo PLC and DFCC Bank PLC…