Trump attacks Fed after no change in interest rates
US President Donald Trump renewed his attacks on the US central bank, hours after officials left interest rates unchanged despite his public calls for them to cut. In a social media post, he accused the Federal Reserve and its chairman Jerome Powell of mishandling the economy, saying they had “failed to stop the problem they […]
Trump offers millions of federal workers eight months pay to resign
President Donald Trump has offered buyout packages to almost all federal workers who do not want to return to the office, a major move designed to shrink the US government. In an email sent to millions of employees on Tuesday, his administration told workers they had to decide by 6 February whether they wanted to […]
China calls for ‘win-win’ solution to trade tensions
A top Chinese official has warned against protectionism, speaking out as Donald Trump’s return to the White House renews the threat of a trade war. Addressing the World Economic Forum in Davos, Switzerland, Ding Xuexiang, Vice Premier of China, said his country was looking for a “win-win” solution to trade tensions and wanted to expand its imports. […]
Trump launches cryptocurrency with price rocketing
US President-elect Donald Trump has launched his own cryptocurrency, which quickly soared in market capitalisation to several billion dollars. His release of the meme coin, $Trump, comes as he prepares to take office on Monday as 47th president of the US. The venture was co-ordinated by CIC Digital LLC – an affiliate of the Trump […]
S Korea parties hold emergency talks as impeachment vote looms
South Korea’s main parties are holding emergency meetings amid reports MPs could bring forward a vote to impeach President Yoon Suk Yeol over Tuesday night’s short-lived martial law declaration. The main opposition Democratic Party says the vote, currently scheduled for Saturday, could take place as soon it can guarantee the numbers to pass the motion. In […]
Why did South Korea’s president suddenly declare martial law and what happens next?
South Korea’s president shocked the country on Tuesday night when, out of the blue, he declared martial law in the Asian democracy for the first time in nearly 50 years. Yoon Suk Yeol’s drastic decision – announced in a late-night TV broadcast – mentioned “anti-state forces” and the threat from North Korea. But it soon became […]
Trump threatens 100% tariff on Brics nations if they try to replace dollar
US President-elect Donald Trump has threatened to impose 100% tariffs on a bloc of nine nations if they were to create a rival currency to the US dollar. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote on social media. Major […]
Trump proves he is serious on tariffs – but it’s not about trade
Is Donald Trump serious about tariffs? This has been the question hanging over not just world markets but the whole world of economics. The popular wisdom had become that he wasn’t really that serious, and the key bit of evidence for that was his nomination of hedge fund investor Scott Bessent as his Treasury Secretary, someone […]
Eastern Container Terminal Project given ‘special project’ status
The government announced efforts to accelerate the development of the Eastern Container Terminal (ECT) at the Port of Colombo, a highly anticipated initiative managed by the Sri Lanka Ports Authority (SLPA). This week, Transport, Highways, Ports and Civil Aviation Minister Vijitha Herath received the Cabinet approval to designate the terminal’s construction as a ‘special project’. […]
Will launch ’Clean Sri Lanka’ project to make Sri Lanka cleanest in Asian region
The Government will launch a special project ‘Clean Sri Lanka’ aiming to make Sri Lanka the cleanest country in the Asian region, President Anura Kumara Dissanayake said. Speaking at an election rally in Katunayake, he said a special Presidential Task Force (PTF) will be set up for this purpose. He said the project aims to maintain […]