Top economist Dhananath Fernando states that the country’s foreign exchange reserves are not used to facilitate the import of motor vehicles.

When importing any goods to the country, foreign reserves are not used and instead money earned through exports are utilied, Fernando noted.

Speaking during a media briefing, economist Dhananath Fernando noted...

The United States is close to finalizing several trade pacts in coming days and will notify other countries of higher tariff rates by July 9, President Donald Trump said on Sunday, with the higher rates set to take effect on August 1.

Since taking office, Trump has set off a global trade war that has roiled financial markets and sent policymakers...

National unity cannot be established through slogans and by merely initiating infrastructure projects, Minister of Justice and National Integration Harshana Nanayakkara has stated.

“If we look at the history of the country, ignoring the people’s language rights led to mistrust among communities and escalated into an arms struggle”, the Justice Minis...

Dozens of residents have evacuated remote islands in southern Japan that have been shaken by nearly 1,600 quakes in recent weeks, the local mayor said Monday (Jul 7).

There has been no major physical damage on hardest-hit Akuseki island, even after a 5.1-magnitude quake that struck overnight, said Genichiro Kubo, who is based on another island.

But...