The Asian Development Bank (ADB) announced on Monday that it has approved a 100-million-US-dollar loan to support Sri Lanka's tourism sector through strategic policy reforms and targeted catalytic investments that align with the country's National Tourism Policy. The project will support sector go
US President Donald Trump said on Saturday he was increasing tariffs on Canada by an additional 10 per cent "above what they're paying now," as he reacted again to an ad by Canada's Ontario province, a day after it was aired during the World Series broadcast. Trump on Thursday ended trade talks wi
The White House said on Friday there likely will not be a release of inflation data next month due to the US government shutdown. Because of Congress' failure to pass a stopgap funding bill, "Surveyors cannot deploy to the field - depriving us of critical data," the White House said on its o
US President Donald Trump will test his deal-making prowess in a region battered by his hardball trade policies on a trip to Asia next week, as doubts hang over his highly anticipated meeting with China's Xi Jinping. Trump, who leaves Washington on Friday night, is set for a five-day trip spanning
The Trump administration is considering a plan to curb a dizzying array of software-powered exports to China, from laptops to jet engines, to retaliate against Beijing's latest round of rare earth export restrictions, according to a US official and three people briefed by US authorities. While the
India and the United States are nearing a long-stalled trade agreement that would reduce US tariffs on Indian imports to 15 per cent to 16 per cent from 50 per cent, India's Mint reported on Wednesday, citing three people aware of the matter. The deal, which hinges on energy and agriculture, may s
US President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi told him that India will stop buying oil from Russia, a move Trump described as a “big step” in efforts to isolate Moscow economically. “So I was not happy that India was buying oil, and he assur
The International Monetary Fund said on Tuesday it has reached a staff-level agreement with Pakistan on its loan programme, which would allow the country to access $1.2 billion after approval from the fund's board. The IMF will provide Pakistan $1 billion under its Extended Fund Facility and $200
The Sri Lankan Cabinet of Ministers has approved a proposal to issue domestic dollar-denominated bonds as a debt instrument, a government spokesman said on Tuesday. Cabinet spokesman Nalinda Jayatissa stated that the decision was made as foreign exchange inflows into the country have increased, th
The International Monetary Fund (IMF) has urged countries to resolve trade disputes, maintain financial stability, and implement key reforms to ensure sustainable global economic growth. In its latest assessment, the IMF said the world economy stands at a crossroads. Despite resilience over the pa
China will slap port fees on US-owned, operated, built, or flagged vessels on Tuesday as a countermeasure to US port fees on China-linked ships starting the same day, China's transport ministry said on Friday. Later in the day, US President Donald Trump said he was raising tariffs on Chinese expor
US President Donald Trump revived the trade war against Beijing on Friday, ending an uneasy truce between the two largest economies with promises to sharply hike tariffs in a reprisal against China, curbing its critical mineral exports. The president unveiled additional levies of 100 per cent on C
International development funding pattern is now shifting from the government-centred initiatives to the private sector, social business, and other models of finance, according to David Engerman, a Professor of History at Yale University, USA. "My active conclusion is that the era of development i
