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TUI extend the suspension of Sri Lanka holidays

TUI has further extennded the cancellation of holidays to Sri Lanka. The operator’s program is being suspended for an extra week until August 22th. Tui started holiday cancellations to Sri…

Sri Lanka roll out QR code system-based fuel distribution from today

Sri Lankans have been urged not to overcrowd fuel stations in the country as the fuel distribution process for vehicles as per the QR code system which was delayed earlier,…

Airlines cuts capacity and import cargo amidst jet fuel crisis

Sri Lanka’s economic crisis and lack of fuel has resulted in airlines cutting capacity to the country and embargoing inbound cargo. The lack of passengers and fuel, which airlines have…

ADB projects Sri Lanka’s economy to contract by 7.6% in 2022

Asain Development Bank (ADB) highlighted that Sri Lanka’s economic conditions have deteriorated drastically on a sharp fall in usable reserves, causing the government to suspend external public debt servicing (excluding…

it’s in China’s interest to restructure Sri Lanka’s debt – Yellen

China is a “very important” creditor of Sri Lanka and it would likely be in the interest of both countries if China participated in restructuring Sri Lanka’s debt, U.S. Treasury…

Jet Fuel crisis in Sri Lanka brings in new income streams for South Indian airports

The ongoing turmoil and fuel shortage in Sri Lanka have boosted aviation turbine fuel (ATF) sales in South Indian airports including Adani Group-managed Thiruvananthapuram Airport, Cochin Airport and Chennai Airport, according to…

Political stability is critical for Sri Lanka to resolve the economic crisis – U.S Ambassador

The United States Ambassador to Sri Lanka, Julie Chung last Friday stressed that the political stability is critical to undertake lasting and decisive structural reforms in addressing the root causes…

Potential in biofuels for transport sector in Sri Lanka

By Ravinda Soysa All states currently rely substantially on petroleum based fuels for power generation, transportation and agricultural activities. The fact that only a few countries generate the majority of…

President Biden announces $20 Million in additional assistance to feed over 800,000 Sri Lankan children

At the G7 Summit today, President of the United States Joe Biden announced $20 million in additional assistance to strengthen food security in Sri Lanka.  Building on other recent funding…

High-Level U.S Delegation to visit Crisis-hit Sri Lanka next week

A high-level delegation representing the U.S. Department of the Treasury and the U.S. Department of State will visit Sri Lanka from June 26 – 29.  Members of the delegation include…