The Central Bank of Somalia’s top priority is to reestablish the nation’s currency, which will enable it to take full control of monetary policy, its governor said. Somalia hasn’t printed new banknotes since descending into a civil war after the government collapsed in 1991…
Showing posts with label ECONOMIC. Show all posts
Showing posts with label ECONOMIC. Show all posts
China spent $240 billion bailing out 'Belt and Road' countries.
China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt and Road" infrastructure, a study publish showed. Almost 80% of the lending was ma…
Shiba Inu: New listing of SHIB by Japanese crypto exchange.
The world’s second-largest memecoin Shiba Inu (SHIB) continues to expand its footprint marketwide. In the latest development, the Shiba Inu community has pushed the listing of SHIB tokens to major Japanese crypto exchanges. BitFlyer, one of the largest exchanges operating in…
Sri Lanka’s NCPI-based inflation for February 2023 recorded at 53.6%
The National Consumer Price Index (NCPI) for the month of February 2023 was recorded at 53.6%, as measured by the Year-on-Year change, the Department of Census and Statistics (DCS) revealed in its latest report. This is a slight increase in comparison to the headline inflat…
Sri Lanka hosts 3rd meeting of IORA Working Group on Maritime Safety and Security.
The Third Meeting of the Indian Ocean Rim Association’s (IORA) Working Group on Maritime Safety and Security (WGMSS) chaired by Sri Lanka was held in Colombo on Monday (March 20) with the participation of the 23 IORA member states. The Secretary General of IORA Secretariat S…
Argentina inflation soars past 100% mark.
Argentina's inflation rate has soared past 100% for the first time since the end of hyperinflation in the early 90s. Inflation hit 102.5% in February, the country's statistics agency said, meaning the price of many consumer goods has more than doubled since 2022. Arge…
Thousands may have lost out to crypto trading app.
Thousands of people are believed to have lost their savings after investing in a cryptocurrency trading app called iEarn Bot. Experts who have investigated the company say it could be one of the largest crypto scandals to date. Trading in cryptocurrencies has become popular, …
Lebanon’s currency value plunges to 100,000 against US dollar.
The Lebanese pound has sunk to a historic low against the US dollar on the country’s parallel market, the latest sombre milestone in an economic meltdown that has plunged much of the population into poverty. The Lebanese pound, officially pegged at 15,000 to the dollar, was …
Japan retrial for world's longest-serving death row inmate.
Current Affairs (CA) Daily Updates3/13/2023 10:58:00 PMECONOMIC, POLITICAL & LEGAL, SOCIAL & CULTURAL
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A Japanese man who was on death row for nearly half a century has been granted a retrial. Iwao Hakamada, now 87, is the world's longest-serving death row inmate, according to Amnesty International. He was sentenced to death in 1968 for murdering his boss, the man's wi…
Inflation could come down faster than earlier forecast.
Central Bank Governor Dr. Nandalal Weerasinghe says inflation is likely to come down faster than earlier forecast, even by the Central Bank, and Sri Lanka could achieve the 4-6 percent preferred inflation band by early part of the fourth quarter of this year. It became evide…
Sri Lanka to announce debt restructuring strategy in April.
Sri Lanka aims to announce a debt-restructuring strategy in April and step up talks with commercial creditors ahead of an International Monetary Fund review of a bailout package in six months, the country’s central bank governor told Reuters on Thursday. The crisis-hit islan…
CSE opens newest branch in Panadura.
The Panadura branch of the Colombo Stock Exchange (CSE) was officially opened to the public by CSE Chairman Dilshan Wirasekera yesterday with the participation of a few stockbroker firms, Sinhala Business Association President Gihan Kuruppu, CSE CEO Rajeeva Bandaranaike, se…
World Bank’s Women, Business and the Law Report 2023.
Economic growth and strength are boosted by gender equality, according to the World Bank’s Women, Business and the Law Report 2023. It increases labour force participation and results in a more effective allocation of resources. Women may engage more fully in the economy an…
Top Countries by Crypto Users in 2023.
According to HedgewithCrypto research, Australia is the biggest country when it comes to the adoption of cryptocurrency in 2023 with a score of 7.37 out of 10. The sale of cryptocurrency and other digital assets is legal and regulated in Australia. India emerged as 7th bigg…
The Central Bank of Sri Lanka raises the Policy Interest Rates.
The Monetary Board of the Central Bank of Sri Lanka (CBSL), at its meeting held on 03 March 2023, decided to raise the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points to 15.50 per cent and 16.50 per…
Elon Musk is the richest person in the world again.
Elon Musk has reclaimed the title of the richest person in the world, per Bloomberg’s tally. The Tesla CEO was unseated from the top spot by Bernard Arnault, CEO of French luxury brand LVMH (LVMHF), in December of last year, making Musk No. 2 on the list for more than two mo…
Britain and E.U. Agree on Northern Ireland Trade Deal.
The Britain and the European Union(EU) agreed on a new trading arrangement for Northern Ireland, a move aimed at ending years of friction caused by Brexit and allowing greater cooperation between both sides at a time of mounting geopolitical risk to Europe from Russia’s war…
Bill Gates buys Heineken stake for $ 902 Million.
Bill Gates has bought 3.76% stake in Dutch drinks giant Heineken Holding NV (HEIO.AS), although the billionaire founder of Microsoft has previously said he was "not a big beer drinker." The filing by the Netherlands' Financial Markets Authority (AFM) said the s…
Sri Lanka consumer price inflation eases to 53.2% in January.
Sri Lanka’s National Consumer Price Index (NCPI) eased year-on-year to 53.2% in January, after a 59.2% rise in December, the statistics department said on Tuesday. Food prices were up 53.6% in January from a year ago, while non-food inflation was 52.9% higher, the Department…
G20 finance chiefs to discuss debt, crypto, inflation.
G20 finance ministers and central bank governors will discuss debt troubles in developing economies, crypto currencies and global inflationary pressures at a meeting later this week, Indian officials said on Tuesday. The Feb. 22-25 meeting in the Nandi Hills summer retreat n…
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