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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…

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…

Sri Lanka identifies 7 key items to import from India

Crisis-ridden Sri Lanka has identified seven classes of products, aside from petroleum, to be imported from India this year under credit facilities, according to Indian media reports. The product classes…

 Ceylon tea Industry in crisis over power cuts and fuel shortages 

The Colombo Tea Traders’ Association (CTTA), the apex private sector body comprising ofall Stakeholders namely Growers, Manufacturers, Brokers, and Buyers/Exporters warn of dire consequences if the current fuel and power…

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…

Sri Lanka’s Central Bank Removes interest rate caps on forex deposits

The Central Bank of Sri Lanka (CBSL) has removed the interest rate caps imposed on foreign currency deposit products of licensed commercial banks and the National Savings Bank following its…

THE WALL OF STRENGTH AGAINST AGGRESSION

By Asanga Abeyagoonasekera 141 of the 193 United Nations member states voted for the UN resolution on Russia’s aggression (thirty-five abstained and five voted against). Almost the entire world has…

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…