Paraguayan President Santiago Peña has resigned after parliament initiated impeachment proceedings against him over alleged irregularities linked to the collapse of Ueno Bank, a financial crisis that has triggered protests and left
The entrenched U.S. debt problem has once again drawn global attention, as U.S. Treasury Secretary Janet Yellen recently warned that the U.S. government could default as soon as June 1 if the
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The Organization of Petroleum Exporting Countries (OPEC) plays a “vital role” in supporting oil market stability, the organization’s chief said on Thursday, in an apparent defense of surprise output cuts earlier this
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More U.S. regional banks could face loss of investor confidence and succumb to deterioration of business amid banking turmoil, as the First Republic Bank continues its struggle to find a way out
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It’s a hot and crowded Tuesday morning in the Yoruba Cultural Center in Havana, and the air sticks to the skin. You can hear the fluttering of paper as people fan themselves,
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The Delhi Police on Wednesday announced the arrest of 31-old-man from West Bengal’s Murshidabad, who illegally procured Indian and international SIM cards in bulk, activated them, and then sold them to cybercriminals
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The International Monetary Fund (IMF) on Wednesday urged fiscal policymakers to adopt tighter fiscal policies to help central banks fight inflation. “Amid high inflation, tightening financing conditions, and elevated debt, policymakers should
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The first event of President Lula da Silva’s long-awaited visit to China in mid-April 2023 is the official swearing-in ceremony of Dilma Rousseff as president of the New Development Bank (popularly known as the
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The fourth Export Barometer Survey conducted by The Ceylon Chamber of Commerce highlighted the fall in exports in the second half of 2022, in line with the decline in national exports during
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A lack of independent financial policies and oversight has put the European banking industry in turmoil due to spillover risks from the U.S. financial system, a Singaporean economist told Xinhua in a
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In late February 2023, U.S. President Joe Biden announced that the United States had placed the nomination of Ajay Banga to be the next head of the World Bank, established in 1944. There will
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The Ceylon Chamber notes with satisfaction the steps taken to implement crucial economic reforms. It is important to maintain the reform momentum under the IMF program, in order to meet the program
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The Dutch companies are eager to explore investment opportunities in renewable energy, eco-labeling and sustainable agriculture, if Sri Lanka can showcase a corruption free business environment, Her Excellency Bonnie Horbach, Ambassador to
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Chinese researchers have developed a digitalized container sealing technology and promoted it to an international standard to facilitate global container transportation. The container standard was officially released by the International Organization for
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Many Sri Lankans are concerned about their next meal, the high cost of living, deteriorating health, stagnant incomes, how to buy school requisites for their children, malnutrition and increasing poverty which they
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The Federal Reserve’s higher interest rates after 12 years of zero interest rates are devaluing the asset side of banks’ balance sheets. This frightens depositors and they withdraw their deposits. Depositors also are withdrawing
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