Sri Lanka’s trade deficit widened by 69% in the first seven months of 2026, exceeding US$6.5 billion, as a sharp rise in import expenditure far outpaced the modest growth in export earnings,
Singapore-based hedge fund manager Jimmy Lim will stop running money for Millennium Management LLC after more than eight years, people familiar with the matter told Bloomberg. By mutual agreement, Lim’s Modular Asset
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Ares Management Corp. is ramping up fundraising for digital infrastructure, aiming to capture the surge of capital flowing into data centers as artificial intelligence fuels a global build-out, Bloomberg reported, citing an
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A rapid shift toward electric vehicles is underway in developing countries, with adoption rates in some markets surpassing those in wealthier nations, according to BloombergNEF research highlighted on Bloomberg’s Zero podcast. Colin
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Freeport-McMoRan Inc. declared force majeure at its Grasberg mine in Indonesia after a massive mud flow left two employees dead and five missing, sending shockwaves through the global copper market. The mine,
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HSBC Sri Lanka has agreed to sell its retail banking business to Nations Trust Bank PLC (NTB) in a landmark deal valued at LKR 18 billion. The transaction, announced today, includes HSBC’s
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by Our Economic Affairs Editor There is a certain poetic irony in the life of Dr. Nandalal Weerasinghe, Sri Lanka’s Central Bank Governor. A man who, when our nation teetered on the
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The personal fortune of Sri Lanka’s Central Bank Governor, Dr. Nandalal Weerasinghe, has come under intense public scrutiny following a full declaration of his assets and liabilities to the Commission to Investigate
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Alibaba Group Holding Ltd. will significantly raise its investment in artificial intelligence as it seeks to establish a full AI ecosystem capable of competing with American tech giants, Bloomberg reported. Speaking at
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Tether Holdings SA, issuer of the world’s largest stablecoin, is in discussions with investors to raise as much as $20 billion through a private placement, Bloomberg reported, citing people familiar with the
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Migrant worker outflows from Asia dropped 7% in 2024 to around 6.5 million, marking the first decline since the pandemic year of 2020, according to Nikkei, citing the “Labor Migration in Asia”
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The eagerly awaited Performance Report of the Inland Revenue Department (IRD) for 2024 has recently been published. It offers some context regarding the IRD’s tax collections. There is room for wider disclosure
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Canadian authorities have executed the largest digital asset seizure in the country’s history, confiscating over CAD 56 million (approximately US$40 million) from the cryptocurrency exchange TradeOgre. The action marks the first time
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Gautam Adani’s fortune has soared by $13 billion in just two trading sessions, following a partial reprieve from India’s markets regulator that reignited investor confidence in his conglomerate. Shares of the Adani
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China is pushing to position itself as a custodian of foreign sovereign gold reserves, a move aimed at strengthening its role in the global bullion market and reducing reliance on Western financial
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Nvidia Corp. announced Monday that it plans to invest up to $100 billion in OpenAI, aiming to build new data centers and infrastructure to support the growing demand for artificial intelligence workloads.
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