Fitch Ratings upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘RD’ (Restricted Default), in its latest report.Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. The Long-Term Foreign-Currency IDR has been affirmed at ‘RD’ and the Country Ceiling at ‘B-‘. ...

By Sanath Nanayakkare The Global CEO Forum Sri Lanka held at the Galadari Hotel on Thursday showed a clear shift of discussion topics by Sri Lankan business leaders compared to what they were talking about just a year ago. Completely deviating from airing worries about how to run their businesses amid economic turmoil, business leaders […]

by Neville Ladduwahetty In order to assuage the apprehensions of India regarding the intended arrival of the Chinese research vessel Shi Yang 6 to Sri Lanka, an informed source of the National Aquatic Resources Research Agency (NARA) is reported to have said “a team of officials from the NARA would board Shi Yang 6 to […]

and eliminate fossil fuel-based electricity generation by […]

A special gazette notification has been issued declaring the supply of electricity and all related services, the supply or distribution of petroleum products and fuel, and health services as essential services.

Monday 18th September, 2023 Some henchmen of the Rajapaksa family, which is responsible for ruining the economy, have taken upon themselves the task of investigating the causes of the country’s bankruptcy! They are all out to absolve their political masters of wrongdoing in a bid to shore up the latter’s chances of winning future elections. […]

By Jayantha Somasundaram When Dr Salvador Allende was elected President of Chile in 1970 at the head of a coalition that included the Socialist and Communist Parties, and with a mandate to nationalise foreign capital, carry out land reform and implement sweeping welfare measures, his government was targeted by Washington and opposed by Chile’s business […]

Why we, the public, need to understand Climate Change (Part 3) by Dr. Ranil Senanayake Another largely unaddressed fact that frames Climate Change is that global Oxygen concentration is falling. According to two graphs, one from the US and the other from Australia, this loss is global. The only process that can add free molecular Oxygen […]

Thursday 14th September, 2023 Everyting is weaponised in politics and war, and not even corpses are spared. A long time before the advent of biological warfare in its present form, Mongolian warrior-ruler, Genghis Khan, used infectious agents as a military weapon. Historical records reveal that he had rotting corpses catapulted into the fortresses his army […]

The Federation of Information Technology Sri Lanka (FITIS) is all set to host the eagerly awaited API Asia Conference 2023 for the second time, with this year s event scheduled to take place on November 16 at the Shangri-La Hotel in Colombo.

by Jehan Perera The increase in the price of petrol and diesel has been accompanied by the removal of the QR Code quota system for the purchase of fuel.  The elimination of long lines of vehicles, and people, outside of the fuel stations that existed a year ago is one of the signs of normalisation

slams Opposition for not taking up issue by Shamindra Ferdinando Convenor of the Samagi Joint Trade Union Alliance, Ananda Palitha, yesterday (03), said that the Ceylon Petroleum Corporation (CPC) had increased prices of all products in spite of earning a monthly profit of Rs. 12 bn at present. Palitha, a former CPC employee, said that […]

Monday 4th September, 2023 Sri Lankans with a predilection for gratuitous violence or wanton brutality no longer have to spend money to watch western gangster movies. Local television news bulletins are full of actual scenes of violence; they are in fact scarier than taut Hollywood thrillers such as Tarantino’s Reservoir Dogs. Sicarios of local gangsters […]

By Dr. Ranil Senanayake Our history has been littered with carpetbaggers seeking to sell some new snake oil to ‘hicks’. They peddle the ideas that traditional values are old fashioned and the concept that ‘the newer/the more, the better’, irrespective of the social repercussions of such action. Sadly, we seem to be heading for a […]

ECONOMYNEXT –The QR code-enabled fuel rationing system that was in operation Sri Lanka for well over a year is to be suspended effective September 01, Power & Energy Minister Kanchana Wijesekara said on Friday. The minister told reporters that consumers can purchase fuel without scanning

AFP:Sri Lanka’s police force said Friday it had sacked an officer who entertained protesters with an impromptu piano performance after they stormed the island nation’s presidential compound last year. Constable R. M. D. Dayaratne was deployed to help protect the colonial-era residence on the day it was taken over by protesters who forced then-president Gotabaya […]