CATEGORIES

Adani Group Commissions India's First Transnational Power Project

Gautam Adani, Chairman, Adani Group called on Bangladesh Prime Minister Sheikh Hasina in Dhaka following the full load commencement of power supply to Bangladesh from the Group’s Ultra Super-Critical Thermal Power Plant in Godda, India

The Role of Capital Flows to Sustainable Growth in Emerging Markets 2023 Michel Camdessus Central Banking Lecture

In an integrated world where financial globalization has seen an accelerated movement in capital across borders, many are pressing the pause button to reassess the strategy of relying excessively on external capital flows as a growth driver in times of global volatility. Lesetja Kganyago, Governor of the Reserve Bank of South Africa, addressing the tenth annual Michel Camdessus Central Banking Lecture 2023 organized by the International Monetary Fund, spoke at length on how emerging markets could leverage the benefits of capital flows for sustainable growth by listing out a set of best practices to optimize results. He underscored the importance of the quality of institutions in making the right policy choices and the quality of human capital empowered to run them, with the capacity to direct capital inflows into productive activities

In order for a country to develop economically, it must be open to the world: President Ranil Wickremesinghe

President Ranil Wickremesinghe stated that he is interested in exposing Sri Lanka to the world for economic development promptly as possible and to implement related legal reforms

Prime Minister Narendra Modi on Sri Lankan President's visit to India

I warmly welcome President Wickremesinghe and his delegation to India

Strengthening Historic Indo-Lanka Joint Vision for the Next 25 Years

President Ranil Wickremesinghe, on his maiden official visit to India after assuming Presidency, conveyed a resolute commitment to strengthen the bilateral ties between India and Sri Lanka

Two Global Banking Giants Face the Regulators' Wrath

Last month’s news of two systemically important financial institutions, Deutsche Bank and Credit Suisse, 19th-century titans in banking, being fined by the US Federal Reserve Board and the UK Prudential Regulatory Authority has become a wake-up call to urge a review of corporate governance and risk management strategies

India-USA partnership augurs well for the democracy: Prime Minister Narendra Modi in his address to the US Congress

Mister Speaker, Madam Vice President, Distinguished Members of the US Congress, Ladies and Gentlemen, Namaskar! It is always a great honor to address the United States Congress.

SLT-MOBITEL to transform Sri Lanka's digital landscape with digitization tools and citizencentric approach

Thilak R. Thilakaratne, GM, Government Business, Sri Lanka Telecom, discusses SLT-MOBITEL Enterprise digitization tools and commitment to Sri Lankan citizens.

Prime Minister Narendra Modi during G20 Tourism Minister's Meet

Excellencies, Ladies and gentlemen, Namaskar! I welcome you all to Incredible India! As tourism ministers, handling a sector worth over two trillion dollars globally, it is rare that you get a chance to be a tourist yourself.

Ministry of Power and Energy signs agreement with RM Parks to ensure uninterrupted fuel supply

To address the foreign exchange crisis in Sri Lanka and ensure a steady fuel supply, the Ministry of Power and Energy has taken decisive action. Accordingly, an agreement was signed between the Government of Sri Lanka and RM Parks, a prominent international company operating in collaboration with Shell, marking a significant step towards securing a long-term contract for importing, storing, distributing, and selling petroleum products in the country.

Inspiring People to Do Better

The Manchester City Football Club made history by entering the Treble Hall of Fame. A 68th-minute strike catapulted it to victory, nailing its first-ever European Cup victory this season - the Champions League Trophy at the Ataturk Olympic Stadium in Istanbul, Turkey, on June 10, 2023 preceded by their success at the Premier League and the FA Cup, a feat by an English football club after nearly a quarter century.

Lessons from a Champion

June 2023 turned out to be a game of thrones in sports. Earlier in June, the Manchester City Football Club became the second English football club to win all three major tournaments in one season, the grand slams of soccer the treble honors. Elsewhere on the clay courts of Roland Garros, Novak Djokovic won the French Open, his 23rd men's singles grand slam victory, making him the men's sole grand slam record holder. Amid high expectations, Djokovic pulled off a record-making win in Paris, demonstrating his years of training in on-court resilience and planning. That evening in Paris, he showed his ability to adapt and his motivation to achieve his goal of winning.

Semiannual Monetary Policy Report to the Congress

Jerome H. Powell submitted identical remarks to the Committee on Banking, Housing, and Urban Affairs, U.S. Senate.

America's 10 richest people worth more than 106 poorest countries combined

In an era where economic inequality has reached unprecedented heights, the divide between immense wealth and abject poverty continues to grow to staggering proportions.

President Ranil Wickremesinghe sets ambitious timeline for Sri Lanka's debt restructuring and reconciliation efforts

In a determined push to address Sri Lanka’s debt crisis and foster reconciliation, President Ranil Wickremesinghe outlined plans to finalize the debt restructuring process by September.

President Ranil Wickremesinghe meets US Treasury Secretary for Debt Relief discussions, Sustainable Development at Paris Summit

President Ranil Wickremesinghe met with Janet Yellen, US Treasury Secretary on the sidelines of the Paris Summit for a New Global Financing Pact.

President Ranil Wickremesinghe Calls for Urgent Debt Restructuring and Comprehensive Approach to Support Middle-Income Nations

President Ranil Wickremesinghe participating in a high-level panel discussion at the Global Leaders’ Summit for a New Global Financing Pact, in Paris, discussed the country’s experience with debt restructuring and the need for a comprehensive approach to address the challenges faced by middle-income nations.

Pan Asia Bank Records Steady Performance of Profit After Tax soars by 50 percent

Pan Asia Banking Corporation reflected a positive performance amidst a multitude of adversities emerging from challenging macro-economic conditions as the Bank reported its financial performance for 1Q2023, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality from a sharp increase in interest rates.

People's Bank reports consolidated profit after tax of 4.6 billion

People’s Bank announced the results for its March 31, 2023 quarter reporting total consolidated operating income and pre-tax profit amounting to 24.0 billion rupees and 7.2 billion rupees, respectively.

Walt Disney Spent $7.2bn on Advertising in 2022, $24.5bn in last 5 years

In the ever-evolving entertainment industry landscape, the Walt Disney Company (NYSE: DIS) has long been a powerhouse, characterized by a complex web of strategies and investments that fuel the company’s success. One aspect that has recently garnered attention is the company’s advertising expense, which has witnessed a notable increase over recent years.

US Content Creator Companies Raised $4B in Total Funding, 60% more than Asian and European Companies Combined

With more and more investors willing to cash in on companies working in the creator industry and helping content creators to grow and monetize their audience, the total funding amount in this market more than tripled in five years, rising from around $2bn to nearly $7bn. The US companies raised almost 60% of that value.

NSB Integrated Annual Report 2022 Presented to the President Ranil Wickremesinghe

National Savings Bank, the largest Licenced Specialised Bank in Sri Lanka is pleased to present its Integrated Annual Report themed \"Strengthening our Mettle\" reflecting its performance within the framework of the economy and its relationship to the social and environmental facets.

HNB Records 6.9 billion PAT in First Quarter of 2023

Following a turbulent year marred by the country facing its most profound economic crisis post-independence, Hatton National Bank made a resilient start to 2023, posting a PBT of 10.7 billion rupees, up 80 percent YoY, while PAT stood at 6.9 billion rupees in the first quarter, growing 42 percent YoY. The Group made a consolidated PBT and PAT of 11.3 billion rupees and 7.3 billion rupees, respectively.

President Meets Japanese Prime Minister

President Ranil Wickremesinghe expressed his regret to the Japanese Government for the suspension of the Colombo Light Rail Transit (LRT) project, which was being implemented with Japanese support.

Bitcoin Records Impressive 72.4% QoQ Gains, Emerges as Top-Performing Asset in Q1 2023

Over the past few months, Bitcoin (BTC) has experienced a surge in value that has left all other major asset classes trailing. Per a BitcoinCasinos.com report, the premier cryptocurrency had an impressive 72.4% quarter-over quarter gain in Q1 2023.

DFCC Bank Reports Strong Performance Amidst Heightened Economic Challenges

DFCC Bank reported a Profit Before Tax of 2,684 million and a Profit After Tax of 1,749 million for the March 31, 2023 quarter.

Prime Minister Narendra Modi Dedicates New Parliament House to the Nation

The Prime Minister, Shri Narendra Modi dedicated the new Parliament House to the nation. The Prime Minister installed the Sengol with Nandi at the top facing East-West direction in the new Parliament House. He also lit up the Diya and offered flowers to the Sengol.

Bank of Ceylon Ends the First Quarter of 2023 with Positive Notes

Bank of Ceylon has reported 3.3 billion rupees of Profit Before Tax for the three months ended March 31, 2023.

Sri Lanka signs Contract Agreement with Sinopec to Secure Fuel Supply

In a significant move to address Sri Lanka's fuel supply challenges, an agreement was signed with Sinopec, a leading international petroleum company.

President Ranil Wickremesinghe highlights Asia's Significance at the Nikkei Forum on the Future of Asia in Japan

President Ranil Wickremesinghe took the stage at the ‘Nikkei Forum: Future of Asia’ held in Tokyo, Japan. During his address, the President emphasized the Government’s approach to the Indian Ocean and Asia-Pacific regions.