All Stories in Economic

Colombo Stock Exchange trading halted

Colombo Stock Exchange trading halted

    The  Sri Lanka’s stock market (Colombo Stock Exchange) opening was delayed over an information technology issue, an official said. After initially informing brokers that the market will open at 10.00 am the broker were told that there was an indefinite delay. “Please note that …

Tamil Nadu legislators to elect six members to Rajya Sabha

Tamil Nadu legislators to elect six members to Rajya Sabha

      The ruling Congress has decided to support its former ally Dravida Munnetra Kazhagam (DMK) for the 27th June Rajya Sabha polls from Tamil Nadu, with its five MLAs all set to vote for DMK nominee Kanimozhi. The election, signals the warming up …

Private sector must stop corruption and pay their taxes to build a better Sri Lanka

Private sector must stop corruption and pay their taxes to build a better Sri Lanka

    Sri Lanka’s Treasury Secretary Dr. PB Jayasundera called on the private sector to stop corruption and pay taxes and work harder in order to transform Sri Lanka into a more vibrant economy where all citizens benefited from development, as government tax revenue continued …

Sri Lankan rupee falls to near 7-mth low; depreciation pressure persists

Sri Lankan rupee falls to near 7-mth low; depreciation pressure persists

      Sri Lanka’s rupee hit a near seven-month low on Monday, before a state-controlled bank intervened to stabilise the currency, dealers said, amid continuous depreciation pressure due to dollar demand from importers and foreign investors who are exiting in the wake of rising …

Chinese currency will eclipse dollar in 10 to 15 years: U.S.-based Indian economist

Chinese currency will eclipse dollar in 10 to 15 years: U.S.-based Indian economist

      A renowned US-based Indian economist has predicted that Chinese currency renminbi  will eclipse dollar in international trading systems within 10 to 15 years. Dr. Arvind Subramanian, who has been named by Foreign Policy magazine as one of the world’s top 100 global …

UNP To Boycott PSC

UNP To Boycott PSC

      The main opposition United National Party (UNP) has decided to boycott the Parliament Select Committee which will look at making proposals on the changes to the 13th Amendment to the Constitution. Chief Opposition Whip, UNP MP John Amaratunga said that the UNP …

TNA delegation leaves for India tomorrow

TNA delegation leaves for India tomorrow

  ▶sinhala– සිංහල ▶english–      A high profile Tamil National Alliance (TNA) parliamentary delegation led by R. Sampanthan will leave for New Delhi tomorrow on a special invitation extended by the Indian Government. The six-member TNA delegation will also meet Prime Minister Dr. Manmohan Singh, …

Central Bank introduces relaxations to foreign exchange regulations

Central Bank introduces relaxations to foreign exchange regulations

  ▶sinhala– සිංහල ▶english–     The Central Bank of Sri Lanka stated that it will introduce new relaxations to foreign exchange regulations in order to achieve greater efficiency in the conduct of international financial transactions with effect from today (June 12). The highlights of …

TNA opposed to amending 13th amendment

TNA opposed to amending 13th amendment

   The Tamil National Alliance (TNA) expressed its opposition to the government’s proposal to amend or dilute the 13th Amendment, claiming it was meant for the solution of the national question. Speaking to journalist in Colombo, TNA Spokesman and Jaffna District MP, Suresh Premachandran, said: …

Trinco UC – US MOU Suspended

Trinco UC – US MOU Suspended

  ▶sinhala– සිංහල ▶english–       The Trincomalee Urban Council has decided to suspend the Memorandum of Understanding (MOU) signed with the US Embassy in Colombo to open a US corner in Trincomalee. Secretary of the Urban Council Abdul Latif Mohammad Nafeel said that …