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Sri Lanka increases fuel prices to address economic crisis

(Reuters) – Sri Lanka increased fuel prices on Tuesday, a long-flagged move to mend public finances and combat its debilitating economic crisis, but the hikes are bound to add to…

World Bank agrees to provide $600 million in financial aid for crisis-hit Sri Lanka

The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to meet payment requirements for essential imports, according to Sri Lankan president’s media division said.…

India to provide crisis-hit Sri Lanka with an additional US$500 million for fuel

Sri Lanka’s continued fuel crisis has prompted India to extend another helping hand to the troubled island nation with an additional $500 million in financial aid. Sri Lanka’s foreign ministry…

Crisis-hit Sri Lanka, India revive talks to link electric grids

(Reuters) – India and Sri Lanka have resumed talks on linking their electricity grids, officials told Reuters on Tuesday, a step that could aid New Delhi’s goal of reducing China’s…

Indian Companies Scramble To Set Up Renewable Energy Projects In Sri Lanka

Indian companies have bagged several renewable energy projects in economic-crisis hit Sri Lanka. The Indian government has offered a line of credit to Sri Lanka to help the island nation…

Sri Lankan shares post worst week ever amid power crisis

Sri Lanka shares had their worst weekly fall ever on Friday, having extended losses to a fifth straight session, with the Colombo Stock Exchange halting trade for a third consecutive…

In cash-strapped Sri Lanka, two men die waiting in queue for fuel

At least two people have died in Sri Lanka while waiting in long queues for fuel, officials say, as widespread shortages and sky-rocketing prices cause misery and hardship across the…

IMF Urges Sri Lanka to implement an ambitious fiscal consolidation program to overcome the economic crisis

The International Monetary Fund (IMF) urges Sri Lanka to implement an ambitious fiscal consolidation that is based on high-quality revenue measures which consist of raising income tax and VAT rates…

Russia-Ukraine Conflict: Economic Implications for Sri Lanka

By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from…

Ceylon Graphite achieves a significant breakthrough in the performance of its silicon enhanced vein graphite anode material for the lithium-ion

Ceylon Graphite Corp. (“Ceylon Graphite”) announced that it has achieved a significant breakthrough in the performance of its silicon enhanced vein graphite anode material for the lithium-ion (“Li-ion”) battery market.…