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Economy
CBSL maintains overnight policy rate at 8.75%
The Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) has decided to maintain the Overnight Policy Rate (OPR) at 8.75%, following its latest meeting, citing evolving domestic and global economic conditions.
The Board said it…
Oil prices rise for second session on continued Middle East supply concern
Global oil prices rose for a second successive session on Tuesday as lingering concern over Middle East supply disruption brought about by US-Iran conflict outweighed signs of recovering crude exports from the region.
Brent crude futures…
From Anuradhapura to Norochcholai: SL’s next energy crisis may be made at home
President Anura Kumara Dissanayake inaugurated an important shift in Sri Lanka’s energy landscape in Anuradhapura on 18 September. A 10 MW / 40 MW hour (h) battery energy storage system (BESS) was connected to the national grid, allowing…
Oil prices edge lower as Iran says it is open to diplomacy to end the war
Oil prices edged lower on Thursday, after climbing 4 per cent in the previous session, as Iran said it remained open to diplomacy to end the US-Iran war, though the two countries remain far apart on ways to do so.
Brent crude futures…
India outpaces China, Europe to emerge with strongest growth outlook globally: WEF survey
India’s growth outlook has strengthened sharply even as China’s prospects weaken and Europe remains subdued, making it the strongest growth story in the latest WEF chief economists’ survey. India has emerged as the global growth standout,…
Hong Kong’s Democratic Spirit Under Siege: Beijing’s Iron Grip and the Looming Economic Fallout
Hong Kong, once hailed as Asia’s most vibrant financial hub and a symbol of freedom, is now enduring an unprecedented assault on its democratic foundations. Since the imposition of the National Security Law in 2020, the Chinese Communist…
US interest rates raised for first time in three years
US interest rates have been raised for the first time in more than three years and could be increased further in a bid to slow rising prices.
Rates were hiked to 3.75%-4% from 3.5%-3.75% by the Federal Reserve in a unanimous decision,…
Global oil prices hit $101 per barrel as US-Iran tensions escalate in Middle East
Global oil prices are back above $100 per barrel as fighting in the Middle East raises concerns about prolonged disruptions to oil supply.
Brent crude, the global oil benchmark, rose 3.36% Wednesday and settled at $101.21 per barrel. It…
Oil prices near $100 as fresh Middle East strikes raise supply risks
Oil prices jumped for the fourth straight session, gaining more than $1 in early trade on Wednesday after Iran launched fresh attacks on U.S. military assets in the Gulf as the war between Washington and Tehran continued to spill out across…
Oil prices rise after US, Iran trade fire in Strait of Hormuz
Oil prices have extended their gains as renewed strikes between the US and Iran on ships transiting the Strait of Hormuz raise concerns of prolonged supply disruptions, according to Reuters.
Brent crude futures climbed 0.54 percent to…