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…
Stock market thrives consecutively over recent political developments
Colombo bourse recorded gains for the second straight session with faint improvement in investor sentiment over recent political developments in the country with the affirmed resignation of President Gotabaya Rajapaksa,…
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…
Ceylon Chamber calls for President to resign and party leaders to ensure smooth transition of power
The Ceylon Chamber of Commerce reiterates its call for President Gotabaya Rajapakse to resign immediately for the sake of the country and its stability as he has lost the trust…
COPE Recommends an Investigate into the cancellation of the gas tender given to Siam Gas Company Limited and opting to purchase gas at a higher price
The Committee on Public Enterprises (COPE) chaired by Prof Charitha Herath recommended an investigation be conducted through the Auditor General’s Department on the cancellation of the Term Tender, which had been…
Policy Rate Hike Dampens the Equity Market
Bourse recorded losses for the fourth straight session with investors taking a defensive approach following the policy rate hike by the Central Bank of Sri Lanka (CBSL), First Capital Research…
Ceylon Chamber appeals to all parties to prevent violence during Saturday protest
Ahead of the protest scheduled on Saturday this week, the Ceylon Chamber of Commerce (CCC) appealed the participants to refrain from violence. Ceylon Chamber of Commerce notes that a number…
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…
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…