The International Monetary Fund (IMF) called for further strengthening in the financial sector supervisory and regulatory framework, as the recent rapid growth seen in credit has slightly lowered the capital adequacy ratios (CARs) of banks and finance companies. The local authorities have also welcomed technical assistance from the IMF on financial supervision and regulation and asked for further coordination with other technical assistance donors.
As the festival season demand surges, Minister of Industry and Commerce Rishad Bathiudeen has instructed his officials to take immediate action to release freshly milled rice to the market to strengthen the rice supply.
“We want to act fast on Prime Minister Ranil Wickremesinghe’s directive,” said Bathiudeen yesterday. “The Consumer Affairs Authority (CAA) will take action against errant rice sellers.”
Yesterday Bathiudeen also instructed
The European Union (EU) has pledged to extend its assistance to promote investment in Sri Lanka under the current government’s set economic development programme. The EU Ambassador to Sri Lanka Tung-Lai Margue met with Finance Minister Ravi Karunanayake recently to discuss investment and trade.
President Maithripala Sirisena and his delegation in Malaysia visited the Brickfields Buddhist Temple in Malaysia on Sunday.
The President met the Chief Incumbent of the temple Kirinde Sri Dhammarathana Thero. The Chief Incumbent and the Buddhist monks chanted pirith and blessed the President. The Brickfields Theravada Buddhist Temple has been established
Sri Lanka’s new Ambassador to Ethiopia and Permanent Representative to the African Union (AU) and United Nations Economic Commission for Africa (UNECA) Dassanayake Mudiyanselage Sumith Priyantha said that Sri Lanka would officially open a new Embassy in Addis Ababa in January 2017.
Sri Lanka extended an invitation to the AU Commission Chairperson Dr. Nkosazana Dlamini Zuma to attend the opening. Opening an Embassy in Addis Ababa is very strategic as Sri Lanka strengthens its
The Hindu: Decrying the Sri Lankan Government’s reported move to bring in a new law to impose a fine ranging from Rs. 7 lakhs to Rs. 7 crore on Indian fishermen poaching in their waters, Marumalarchi Dravida Munnetra Kazhagam (MDMK) leader Vaiko has urged the Centre to prevail upon the Sri Lankan Government and prevent it from enacting such legislation.
Addressing a protest rally in Madurai on Friday, he said as the proposed law to come into force from January next was
The Sri Lankan asylum seekers who sheltered the American whistle-blower Edward Snowden in Hong Kong might be at risk of detention and deportation as their lawyer was not able to meet a final deadline imposed by the Immigration Department to file documents.
Robert Tibbo, a Canadian barrister who provided legal advice to Snowden when he was in the city in 2013, said 30 of his cases had been reactivated at the same time after at least two years of inactivity, leaving him unable
Thomas DeWolf is the Director, Business Development and Sales, Asia, and Director, Account and Sector Management at the Government of Canada’s international contracting organisation – the Canadian Commercial Corporation (CCC).
He was on an official visit to Sri Lanka this week and held bilateral talks with Development Strategies and International Trade
Signing of an MoU between the Ministry of City Planning and Water Supply and University of Peradeniya under the China-Sri Lanka Collaborative Research Grant Project on CKDu (Chronic Kidney Disease of Unknown Origin) took place at the Ministry Auditorium with the participation of SLMC Leader Minister Rauff Hakeem last Friday (9) evening.
The Court of Appeal yesterday granted time till 27 January to the Respondents to file Objection in respect of the Writ Petition challenging the impugned decision granting or/and approving waiver and/or exemption and/or concession of customs import duty and/or any other fiscal levy.
The Bench comprised Justices Vijith K. Malalgoda (President/CA) and S. Thurairajah.
Buddhist Monks Ven. Agulugalle Sri Jinananda Thero, Ven. Rathgama Sumangala Thero, Ven. Biyagama Suseela Thero,