Breaking News

Nearly 1,600 dead in Turkey, Syria as second massive quake hits

Published

2 months ago

2023/02/6

Priyan

(picture BBC)

Al Jazeera reported that a magnitude 7.5 earthquake followed the devastating magnitude 7.8 earthquake in southeast Turkey, also causing damage in northern Syria.

At least 1,014 deaths were reported in Turkey, while 582 people died in Syria.

The US Geological Survey said the earthquake was centred about 33km (20 miles) from Gaziantep, a major city and provincial capital. It was about 18km (11 miles) deep, with a 7.5 quake hitting in the same region hours later amid several aftershocks.

Dozens of countries have pledge to aid in search and rescue operations.

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Breaking News

Property tax to be replaced with Wealth Tax, Gift Tax and Estate Tax – President

Published

5 days ago

2023/03/22

Priyan

President Ranil Wickremasinghe while tabling the IMF agreement in Parliament today (22) in his capacity as the Minister of Finance said that he would introduce Wealth Tax, Gift Tax and Estate Tax in lieu of the existing Property tax.

Breaking News

Two dead after quake rattles Pakistan, Afghanistan, India

Published

5 days ago

2023/03/22

Priyan

Aljazeera reported that a magnitude 6.5 earthquake has rattled Afghanistan and northern Pakistan, and tremors were felt as far away as India.

The quake epicentre is 40km (25 miles) south-southeast of the Afghan town of Jurm, near the borders with Pakistan and Tajikistan, according to the United States Geological Survey.

Rezcue officials have confirmed that two persons had died in Pakistan’s Khyber Pakhtunkhwa province.

Breaking News

SRI LANKA RECEIVES IMF EXECUTIVE BOARD APPROVAL FOR THE EXTENDED FUND FACILITY (EFF) ARRANGEMENT

Published

6 days ago

2023/03/21

Priyan

The International Monetary Fund (IMF) has announced that the IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF). The program will allow Sri Lanka to access financing of up to US$ 7 billion from the IMF, International Financial Institutions (IFIs) and multilateral organizations.

This is a historic milestone for the country as the Government seeks to restore macroeconomic stability and achieve debt sustainability. Earlier this month, Sri Lanka received IMF-compatible financing assurances from its official creditors, including Paris Club members, India and China, allowing the IMF to convene an Executive Board and consider Sri Lanka’s request for a loan. The program is expected to provide much-needed policy space to drive the economy out of the unprecedented challenges and instill confidence amongst all the stakeholders.