News & Events

Before independence, Vanuatu, formerly known as the New Hebrides, was a territory jointly governed by Britain and France. This dual colonial administration created divisions among the indigenous Ni-Vanuatu population and between the political movements striving for self-rule. Unity Day honours the collaborative efforts of leaders and citizens who overcame these divisions to forge a shared national identity and pave the way for independence.

A variety of events and activities across the nation marks the day. Official ceremonies, often featuring speeches by government officials and community leaders, are held in the capital, Port Vila, and other major towns. The national flag is raised in various locations, symbolising pride and unity. Parades showcasing traditional costumes, dances, and music from different islands and cultural groups are common, as are cultural performances highlighting Vanuatu’s diverse heritage. Sporting events and community feasts featuring traditional dishes foster a sense of togetherness. Educational activities in schools and community centres focus on Vanuatu’s history and the importance of national unity. As Christianity is widely practised, many people attend special church services.

The 73rd Miss Universe pageant in Mexico City made history by lifting the age limit of 28 and allowing older contestants to compete. Malta’s Beatrice Njoya, a 40-year-old single mother and domestic violence survivor, became the oldest finalist in the competition’s history.

This groundbreaking change also highlighted the inclusion of over 25 contestants above the previous age restriction among the 120 finalists. Victoria Kjaer Theilvig of Denmark ultimately claimed the Miss Universe crown, marking her the first Danish winner in history.

Read the original article here: https://www.newsbytesapp.com/news/entertainment/denmark-s-victoria-kjaer-theilvig-crowned-miss-universe-2024/story

Sri Lanka’s central bank has introduced a new single policy rate of 8% to support the country’s ongoing economic recovery from a severe financial crisis. The Central Bank of Sri Lanka (CBSL) announced the move to simplify its interest rate mechanism by replacing the existing rate corridor with an overnight policy rate.

This change effectively reduces the policy interest rate by 50 basis points from the current Average Weighted Call Money Rate (AWCMR), the bank’s operating target under the Flexible Inflation Targeting framework. Previously, CBSL maintained two key rates, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR), which will no longer serve as policy rates.

The policy adjustment comes as Sri Lanka continues its economic revival, bolstered by a $2.9 billion International Monetary Fund (IMF) programme secured in March 2023. The country also initiated a critical $12.55 billion bond restructuring process this week, with bondholders given until December 12 to vote on the proposal to exchange existing bonds for new ones.

Read the original article here: https://www.msn.com/en-us/money/markets/sri-lanka-eases-monetary-policy-sets-new-single-key-rate/ar-AA1uORV6?ocid=BingNewsVerp