IMF staff plans to visit Colombo ths week
An IMF Staff delegation led by Peter Breuer and Masahiro Nozaki plans to visit Colombo during August 24-31 to continue discussions with the Sri Lankan authorities on economic and financial…
CBSL Establish 17-member Stakeholder Engagement Committee Chaired by Prof. Sirimal Abeyratne
The Central Bank of Sri Lanka (CBSL), with a view to broadening its engagement with key stakeholders of the economy, established the Stakeholder Engagement Committee (SEC) by replacing the Monetary…
Indian Oil Corp unit to open 50 fuel stations in Sri Lanka to help alleviate crisis
(Reuters) – Sri Lanka has given approval for India’s Lanka Indian Oil Corporation (LIOC) to open 50 new fuel stations, a company official said on Monday, as part of efforts…
Eight member committee appointed to propose recommendations to restructure CEB
The Government yesterday appointed eight-member committee to propose recommendations within a month to restructure Ceylon Electricity Board (CEB), the Minister of Power and Energy Kanchana Wijesekera announced. The eight members…
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…