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Twitter logo to change



Twitter owner Elon Musk has said he wants to get rid of the Twitter bird logo, and replace it with an “X”.

However, Mr Musk also has a history of making statements that fail to happen or are not serious.

Mr Musk, who has changed the name of the business to X Corp, said the replacement “should have been done a long time ago”.

According to reports, the billionaire wants to create a “super app” called “X” which is similar to China’s WeChat.

He said on Sunday he was looking to change Twitter’s logo, tweeting: “And soon we shall bid adieu to the Twitter brand and, gradually, all the birds.”

He then said that an interim logo would go live later the same day.

Mr Musk posted an image of a flickering “X” on Twitter, and later in a Twitter Spaces audio chat, replied “Yes” when asked if the Twitter logo will change, adding that “it should have been done a long time ago”.

The company’s chief executive, Linda Yaccarino, wrote on the platform that the rebrand was an exciting new opportunity.

“Twitter made one massive impression and changed the way we communicate,” she said.

“Now, X will go further, transforming the global town square.”

For some people in Asia, super-apps including India’s PayTM and Indonesia’s GoJek have been a vital part of everyday lives for the past few years.

The apps let users pay for services through a finance system.

WeChat is a messaging and social media platform that has evolved into one of the region’s biggest apps in terms of its range of services and number of users.

Last year, it was estimated to have 1.29 billion users in China alone.

(BBC News)


CBSL further reduces Policy Interest Rates




The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held yesterday (July 23), decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 25 basis points (bps) to 8.25 per cent and 9.25 per cent, respectively.

The Board arrived at this decision following a careful assessment of the current and expected macroeconomic developments and possible risks and uncertainties on the domestic and global fronts with a view to maintaining inflation at the targeted level of 5 per cent over the medium term, while enabling the economy to reach its full capacity.

In arriving at this decision, the Board considered the need to signal the continuation of the eased monetary policy stance, thereby inducing a further reduction in market lending rates to support economic activity, amidst a benign inflation outlook.

The Board noted that, based on the available information, inflation is likely to remain below the inflation target of 5 per cent by a sizeable margin for the next several months before aligning with the targeted level over the medium term.

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Relief for those who pawned gold jewellery in banks




Cabinet approval has been granted to provide relief facilities to those who pawned gold jewellery in banks, Cabinet Spokesman and Mass Media Minister Dr. Bandula Gunawardhana said.

He was speaking at the weekly Cabinet media briefing held yesterday at the Government Information Department.

The immense economic crisis experienced within the country during the past affected every sector in the economy negatively both directly and indirectly and as a result of the crisis, pawning gold jewellery accelerated.

The arrears of pawn advances of Rs.210 billion in 2019 increased up to Rs.571 billion by the March 2024 making it a growth of 172 percent. Considering the said circumstances, licensed banks have recognised the necessity of granting relief to low income generating community who obtained pawn advances from them.

Accordingly, the Cabinet of Ministers granted approval to the resolution by President Ranil Wickremesinghe as the Finance, Economic Rehabilitation and National Policies Minister to implement an appropriate programme to grant an interest relief by the General Treasury subject to a maximum of an annual 10 percent for pawn advance that do not exceed Rs.100,000 that has been obtained from the licensed banks on or before June 30, 2024 on an individual basis.

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Vehicle import ban extended until next year




The government has postponed the lifting of the ban on private vehicle imports until the beginning of next year.

A decision has been made to put off lifting the ban because the country’s economy has not stabilised enough and foreign reserves are not at a sufficient level to facilitate such imports, a senior Treasury official told the Sunday Times. He said the import of private vehicles will result in an annual foreign exchange outflow of about USD 1 billion.

However, the import of commercial vehicles such as lorries, buses and trucks, as well as vans used in the tourism sector, can start next month, the official added. Vehicles used for government ministries and other agencies too will only be imported from the beginning of next year when the ban is lifted on private vehicle imports.

The government had earlier planned to allow the import of electric vehicles and private cars by the end of this year. This has also now been postponed until next year.

Motorbikes and three-wheelers make up the largest number of private vehicle imports. The import of these vehicles will have to be postponed until at least May or June next year due to the economy still not having recovered enough, the official revealed.

Small cars with engine capacities ranging from 600 cc to 800 cc are usually imported in bulk. Therefore, the government will allow only a certain quota of such vehicles to be imported. Only authorised local agents of the parent companies will be allowed to import such vehicles initially.

When allowing the import of vehicles from the start of next year, the government will also give priority to companies that locally assemble the vehicles from imported parts, the Treasury source said.

Meanwhile, about 10,000 vehicle permits issued to doctors and senior government officers are still pending. The official said they would only be able to consider allowing these vehicle imports next year, but that their vehicles too would not be allowed to be imported in bulk. The decision on these imports will depend on the state of the economy.

Traders will not be able to import vehicles in bulk and will only be allowed to import a limited number of vehicles. Only reconditioned vehicles that are two years old or less will be imported. Their engine capacities, too, will depend on what the government considers can be imported without harming the still fragile economy.

If the vehicle imports prove too much of a burden on the country’s economy and lead to serious strain on the US dollar and the country’s foreign reserves, the Treasury will not hesitate to re-impose restrictions, the official added.


(Except for the headline, this story, originally published by has not been edited by SLM staff)

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