Ceylon Chamber meets Sri Lanka’s Political Leaders to discuss economic and political crises
The Ceylon Chamber of Commerce officials met with the leaders of several key political parties during the last 4 days to discuss the serious economic and political challenges faced by…
JPMorgan backs Sri Lanka bonds on bets that crippling crisis to ease
(Reuters) – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks…
Crisis in Colombo port drives shipping lines to alternative routes
Due to the ongoing political unrest in Sri Lanka, shipping lines are going for transshipment routes that do not pass through the port of Colombo for the transport of goods…
A Sri Lankan Household Spends Nearly a Quarter of Average Monthly Expenditure on One Full Tank of Petrol
Following the latest fuel price increase, a full tank (45 Liters) of Petrol (Octane 92) now accounts for almost 1/4th of average monthly household expenditure in Sri Lanka as measured…
Sri Lanka protesters call for new government a day after clashes kill eight
(Reuters) – Protesters and a key trade group in Sri Lanka called for a new government to take control of the crisis-hit country on Tuesday while the president asked for…
UN Secretary-General calls for dialogue to solve Sri Lanka crisis
UN Secretary-General Antonio Guterres wants Sri Lankans to find a solution through dialogue to the crisis in their country, whose Prime Minister Mahinda Rajapaksa resigned amid violent clashes spurred by…
Economic crisis in Sri Lanka and its impact on older adults
By Keshini Madara Marasinghe Sri Lanka is experiencing its worst economic downturn in history. Due to depleting foreign reserves, the country is facing shortages in fuel, food, cooking gas, medicines,…
Sri Lankan tea pickers’ dreams shattered by economic crisis
(Reuters) – On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her…
Stock Market backslides to the red territory
Colombo Bourse closed in the red zone on Wednesday after consecutive gains during the last three trading sessions as a selling spree emerged, First Capital Research said. Following the long…
Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid
(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…