World Bank set to approve $700 mln for Sri Lanka next week -sources
(Reuters) – The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters,…
SriLankan Airlines’ annual loss climbs to $525 million amidst exchange loss
Cash-strapped Sri Lanka’s national airline announced a staggering $525 million annual loss on Friday. Despite posting an operating profit of Rs. 1.7 billion in FY22 for the first time in…
Global Economy’s “Speed Limit” Set to Fall to Three-Decade Low – World Bank
The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030. An ambitious policy push is…
Debt-stricken Sri Lanka to receive first tranche of IMF bailout funds in two days
(Reuters) – Sri Lanka will get the first $330 million tranche of the International Monetary Fund’s bailout in the next two days, the global lender said on Tuesday, putting the…
Bruised U.S. bank stocks shake off initial SVB contagion fears
(Reuters) – U.S. bank stocks jumped on Tuesday, recovering some ground after the failure of Silicon Valley Bank and Signature Bank triggered heavy selling by investors who were already anxious…
Sri Lanka hopes to secure the IMF bailout within this month
Minister of Foreign Affairs Ali Sabry express confidence in securing the IMF bailout package within this month since considerable progress has been made with the International Monetary Fund. Speaking to…
Pace of Reform Toward Equal Rights for Women Falls to 20-Year Low
The global pace of reforms toward equal treatment of women under the law has slumped to a 20-year low, constituting a potential impediment to economic growth at a critical time…
Australia Keen to Invest in Sri Lanka’s Mining, Energy and Agriculture Sectors
With Australian companies increasingly eager to explore investment opportunities in Sri Lanka, tradeand investment promotion and facilitation activities can play a vital role in fast-tracking foreign directinvestment, High Commissioner for…
COVID-19’s Impact on Young People Risks a Lost Generation
The COVID-19 pandemic caused a massive collapse in human capital at critical moments in the life cycle, derailing development for millions of children and young people in low- and middle-income…
PrimeGlobal adds member firm in China and debuts in Sri Lanka
Global professional services association PrimeGlobal has in recent months welcomed two new member firms in Asia: Pengsheng in China, and Ranwatta & Co in Sri Lanka. Headquartered in Southern China…