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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-‘. ...
- Fitch downgrades Sri Lanka (Category: Breaking News)
- Fitch downgrades Sri Lanka’s long-term local-currency IDR to ‘CC’ (Category: Breaking News)
- Fitch Downgrades Sri Lanka’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
- Fitch downgrades SL’s Long-Term Local-Currency IDR to ‘RD’ (Category: Breaking News)
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 […]
- Indian business leaders keen on investing in Sri Lanka (Category: Breaking News)
- “SL must continue reforms but people demand openness, transparency & accountability” (Category: Breaking News)
- GLOBAL CEO FORUM SUMMARY (Category: Breaking News)
- JVP unveils its economic policy today (Category: Breaking News)
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 […]
- A Sri Lankan initiative to meet global challenges (Category: Breaking News)
- Mega corruption everywhere – real action nowhere (Category: Breaking News)
- Kachchativu and its maritime boundary ignore international law (Category: Breaking News)
- Multilateral treaties are tools for global governance (Category: Breaking News)
[…]The post System Change Happening In Wrong Direction appeared first on Colombo Telegraph.
- Overstressing The Proposed Truth & Reconciliation Commission (Category: Breaking News)
- From Demand For Systems Change To Systems Break (Category: Breaking News)
- Time For Truth Come Out (Category: Breaking News)
- The Missing Ingredients To Come Out Of The Economic Rut (Category: Breaking News)
Sri Lanka's key inflation rate eased to 4% in August from 6.3% a month ago, the statistics department said on Thursday, marking continued stabilisation for the crisis-ridden economy.The post Sri Lanka’s key inflation rate eases to 4% in August appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s key inflation rate rises to 1.5% in October (Category: Breaking News)
- Sri Lanka central bank to consider a single policy rate mechanism (Category: Breaking News)
- Sri Lanka’s key inflation rate surges to record, keeps central bank pressured (Category: Breaking News)
- Sri Lanka’s key inflation rate eases to 35.3% in April (Category: Breaking News)
Sinopec Energy Lanka, a Beijing-based leading international petroleum company, has officially commenced its business operations in Sri Lanka by starting fuel supply at its first filling station in Sri Lanka established in Mattegoda, Colombo from yesterday (August 30).The post Sinopec officially
- Sinopec officially begins fuel operations in Sri Lanka with discount offer (Category: Breaking News)
- Sinopec Lanka announces retail fuel prices for Sri Lanka (Category: Breaking News)
- Sinopec officially launches operations in Sri Lanka (Category: Breaking News)
- First Sinopec fuel cargo commence discharging (Category: Breaking News)
Beijing [China], August 19 (ANI): Raising concerns regarding the financial crisis triggered by the downturn in China’s real estate market, Chinese investment firm Zhongrong Trust , which managed USD 87 billion worth of funds for corporate clients and wealthy individuals as of the end of 2022, had failed to pay the interest and principal on […]
- HSBC China fund JV to expand, internationalisation in focus (Category: Business)
- China to keep investing in euro zone debt – China c.bank gov. (Category: Business)
- Taiwan CB says hot money returning to markets (Category: Business)
- Ceybank Unit Trust pays Rs. 346 m as tax free dividend (Category: Business)
By Y P Prakash India’s Strategic Lunar Missions Contrast with Sri Lanka’s Costly Ventures and Underutilized Infrastructure, Highlighting Investment Priorities and Technological Futures Over the course of several years, the investment in India’s space exploration missions has seen both accomplishments and financial considerations. In 2008, the pioneering Chandrayaan-1 mission was ...
- What’s next for India’s Chandrayaan-3 moon mission? (Category: Breaking News)
- India becomes fourth country to land on the moon (Category: Breaking News)
- Chandrayaan-3 spacecraft lands on the moon in ‘victory cry of a new India’ (Category: Breaking News)
- Ranil writes to Modi congratulating him on moon landing (Category: Breaking News)
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part VI (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part III (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part IV (Category: Breaking News)
Sri Lanka’s consumer inflation rate more than halved to 4.6% year-on-year in July, helped by falling food prices, the statistics department said on Monday.The post Sri Lanka’s July consumer inflation more than halves to 4.6% appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka’s inflation climbed to 60.8% in July – CCPI (Category: Breaking News)
- Sri Lanka’s inflation increases to 66.7% in July (Category: Breaking News)
- Inflation in Sri Lanka drops to single-digit levels in July (Category: Breaking News)
- Sri Lanka’s key inflation rate eases to 4% in August (Category: Breaking News)
Sri Lanka’s largest bilateral creditor, China, has assured the island nation its help in effectively addressing the debt challenges as it has to finalise the external and domestic debt restructuring of a whopping USD 41 billion by September before the IMF’s first review. The International Monetary Fund (IMF) is set to conduct its first review […]
- Sri Lanka’s debt restructuring likely to be complete by September – IMF (Category: Breaking News)
- China only observer in Sri Lanka’s debt restructuring platform (Category: Breaking News)
- Sri Lanka expects major debt restructuring deals as IMF to review bailout - report (Category: Breaking News)
- Sri Lanka must avoid China’s debt restructuring as Beijing is to seek preferential treatment (Category: Breaking News)
Chinese oil major Sinopec expects to start operations in Sri Lanka on Sept. 20 and will be allowed to sell fuel for less than the maximum retail price set by the government, Sri Lanka's power minister said on Tuesday.The post Sri Lanka says China’s Sinopec to start operations September 20
- China s Sinopec to start operations in Sri Lanka in Sept. (Category: Breaking News)
- China’s Sinopec to enter Sri Lanka retail fuel market (Category: Breaking News)
- Sinopec issues clarification on fuel station project in Sri Lanka (Category: Breaking News)
- Sinopec officially begins operations in Sri Lanka with Rs. 3 discount offer (Category: Breaking News)
The IMF will conduct the first review of the $2.9 billion bailout to Sri Lanka from September 11-19, state minister of finance Ranjith Siyambalapitiya said on Saturday and declared that the country has successfully fulfilled the nine conditions set by the global lender.The post IMF to conduct bailout review for Sri Lanka in September appeared first on ONLANKA - Sri Lanka Latest Breaking News and T...
- IMF Team to conduct second review of Sri Lanka’s EFF program in March 2024 (Category: Breaking News)
- IMF staff to visit Sri Lanka in September for first programme review (Category: Breaking News)
- IMF begins second review of Sri Lanka’s bailout package today (Category: Breaking News)
- IMF team in Colombo this week for first review of Extended Fund Facility (Category: Breaking News)
More than 3,000 US military personnel have arrived in the Red Sea on board two warships, part of a beefed-up response from the United States after alleged seizures of several civilian ships by Iran, the US Navy said. The US sailors and marines entered the Red Sea on Sunday after transiting through the Suez Canal […]
- SriLanka ready to face third world war: Minister Weerawansa (Category: Breaking News)
- Two US B-52 bombers fly over Persian Gulf in show of military force to Iran (Category: USA, New York)
- Two US B-52 bombers fly over Persian Gulf in show of military force to Iran (Category: USA, New York)
- Two US B-52 bombers fly over Persian Gulf in show of military force to Iran (Category: USA, New York)
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? appeared first on Colombo Telegraph.
- Debt Restructuring, Austerity, & The IMF: A Solution Or A Worsening Of The Problem? (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part VI (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part IV (Category: Breaking News)
- Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part III (Category: Breaking News)
[…]The post To Be Realistic, There Are Only Two Options appeared first on Colombo Telegraph.
- The Partnership Between NPP & JVP Must Be Emboldened (Category: Breaking News)
- Ranil’s Economic Strategy: Will His Prioritisation Of Targets Misfire? (Category: Breaking News)
- Is State Owned Temasek A Useful Concept For Sri Lanka? (Category: Breaking News)
- Triangular Contest: To Be Realistic, There Are 3 Options: Response To Prof Kumar David (Category: Breaking News)
By Rathindra Kuruwita The government had increased the price of fuel to enable Sinopec, China’s leading international petroleum company to maximise profit, Convenor of the SJB trade union wing, Samagi Joint Trade Union Alliance, Ananda Palitha, alleged yesterday. Palitha
- SJB TU accuses CPC, LIOC and Sinopec of making unconscionable profits (Category: Breaking News)
- SJB unionist: IOC and Sinopec benefit from special levy on fuel to recover CPC losses (Category: Breaking News)
- VAT on fuel already subjected to several taxes unfair – SJB trade union wing (Category: Breaking News)
- Govt. flayed for jacking up fuel prices despite Rs 120 bn profit since last Sept. (Category: Breaking News)
China’s Sinopec, a leading international petroleum company, had imported its first consignment of fuel to be distributed in the local market, Power and Energy Minister Kanchana Wijesekara said yesterday (01). The Minister said in his Twitter that its second shipment would arrive today (03
Islamabad [Pakistan], July 19 (ANI): Beyond the upcoming election cycle and the current standby agreement, Pakistan needs another International Monetary Fund (IMF) program and assistance from other multilateral lenders, the lender stated in a report released on Tuesday, according to Dawn. “Resolving Pakistan’s structural challenges, including long-term BOP [balance of payments] pressures, will req...
- Pakistan’s election chaos casts shadow on next IMF deal (Category: Breaking News)
- As economic situation looks gloomy in Pakistan, IMF advises strict measures (Category: Breaking News)
- Former Pak Finance Minister Miftah Ismail says things to ‘remain tight for a while’ on economic ... (Category: Breaking News)
- IMF seeks more Pak assurances before releasing bailout package (Category: Breaking News)
India and Sri Lanka said on Friday that they had agreed to improve economic ties by increasing cooperation in renewable energy and studying the feasibility of building an oil pipeline and a land bridge between the two countries.The post India, Sri Lanka agree to boost ties through energy, power and port projects appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka and India reach agreements on Renewable Energy, Animal Husbandry, and more (Category: Breaking News)
- Infrastructure, energy and debt on agenda as Sri Lanka president arrives in India (Category: Breaking News)
- Indian Prime Minister urges Sri Lankan President to ensure “life of dignity and respect” for Tam... (Category: Breaking News)
- HC Moragoda pushing for land connectivity with India (Category: Breaking News)
Sri Lankan President Ranil Wickremesinghe arrives in New Delhi on Thursday on a two-day visit hoping to strengthen economic ties between the South Asian countries.The post Infrastructure, energy and debt on agenda as Sri Lanka president arrives in India appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka trying to reduce overall debt by $17 Billion, president says (Category: Breaking News)
- India seeks ‘positive transformation’ in bilateral ties during Sri Lanka President’s upcoming vi... (Category: Breaking News)
- Sri Lanka and India reach agreements on Renewable Energy, Animal Husbandry, and more (Category: Breaking News)
- Sri Lanka could wrap up debt restructure talks by Sept, president says (Category: Breaking News)
At first glance, life in Sri Lanka's financial capital Colombo looks deceptively normal.The post Is the worst over for Sri Lanka’s economic crisis? appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- USAID Administrator Samantha Power arrives in Sri Lanka (Category: Breaking News)
- Sri Lanka’s revenue shortfall concerns IMF team – sources (Category: Breaking News)
- Sri Lanka aims to have $2.9 billion IMF loan finalised in December (Category: Breaking News)
- Sri Lanka hit by record brain drain, but some stay to rebuild (Category: Breaking News)
Sri Lanka born international economist Dr. Howard Nicholas of Erasmus University, Netherlands has categorically stated that Sri Lanka must not adopt the IMF recommendations on monetary policy for it has no rational basis and evidence of success anywhere in the world. Coming from a Western based economist that provides a lot of food for thought […]
- SL lagging behind other countries due to lack of national digital policy- NC sub-committee (Category: Breaking News)
- Relevance of Non-alignment or ‘dynamic neutrality’ to SL’s foreign policy (Category: Breaking News)
- SL economy, IMF claims, and reality (Category: Breaking News)
- Decline of middle class bodes ill for nation (Category: Breaking News)
BEIJING, June 28 (Reuters) – Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8% year-on-year slump in profits came on top of the 20.6% contraction in January-April, and added […]
- China’s security drive hits embassy activities, LGBT events, some diplomats say (Category: Breaking News)
- India’s offer to privatise rocket has 20 potential bidders (Category: Breaking News)
- Sri Lanka to focus on energy, port projects with India during presidential visit (Category: Breaking News)
- ChatGPT maker OpenAI ousts CEO Sam Altman (Category: Breaking News)
[…]The post Towards A False Dawn appeared first on Colombo Telegraph.
- IMF’s Prescription: Panacea Or Palliative? (Category: Breaking News)
- A führer In The Making (Category: Breaking News)
- RW, IMF & The Economy (Category: Breaking News)
- Political Buddhism & Corruption: The Unholy Twins (Category: Breaking News)
Sri Lanka is likely to discuss energy, power and port projects during a presidential visit to New Delhi next week, the Foreign Minister said, as India tries to push forward stalled initiatives with its crisis-hit neighbour. India’s support was critical for Sri Lanka last year after it almost ran out of dollars and sank into […]
- China’s industrial profits tumble, deepening economic gloom (Category: Breaking News)
- Bill to trim president’s powers likely to become law within weeks (Category: Breaking News)
- India’s offer to privatise rocket has 20 potential bidders (Category: Breaking News)
- China’s security drive hits embassy activities, LGBT events, some diplomats say (Category: Breaking News)
Sri Lanka is likely to discuss energy, power and port projects during a presidential visit to New Delhi next week, the foreign minister said on Monday, as India tries to push forward stalled initiatives with its crisis-hit neighbour.The post Sri Lanka to focus on energy, port projects with India during presidential visit appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
- Sri Lanka to focus on energy, port projects with India during presidential visit (Category: Breaking News)
- Infrastructure, energy and debt on agenda as Sri Lanka president arrives in India (Category: Breaking News)
- Sri Lanka grants Adani Green Energy provisional approvals for wind projects (Category: Breaking News)
- India, Sri Lanka agree to boost ties through energy, power and port projects (Category: Breaking News)
Udeni Kaluthantri, a 54-year-old port worker, became an overnight sensation last year for reasons that had nothing to do with his job. Days after protesters stormed the presidential palace in the Sri Lankan capital Colombo, a video surfaced of Mr Kaluthantri lounging on a bed draped with the presidential flag. Pictures of young men jumping […]
- Brazil’s President vows to punish rioters who stormed Congress (Category: Breaking News)
- Mass arrests in Brazil as President condemns ‘terrorist’ riots (Category: Breaking News)
- Pakistan’s Supreme Court rules Imran Khan arrest was illegal (Category: Breaking News)
- A divided Japan bids farewell to its slain ex-PM (Category: Breaking News)
When the five days long stretch of holidays ended last week and the Colombo bourse reopened for trading on Tuesday, the market surged 6.71 percent (633.69 points up) on the broad All Share Price Index (ASPI) while the Standard and Poor SL 20 index covering the 20 largest and more liquid companies quoted on the […]
- Manning Market closed until further notice (Category: Breaking News)
- Stock market ends on a positive note (Category: Breaking News)
- Stock market closed for the day as S P SL20 falls (Category: Breaking News)
- Man killed in shooting incident at Manning Market (Category: Breaking News)
By Amal JAYASINGHE The snaking queues for food and fuel that crisscrossed Sri Lanka last year have given way to a different kind of line — people scrambling for travel documents to flee their bankrupt island. “What we see as normalcy is a mirage,” customer care executive Gayan
- Prez offers to convert N’Eliya Post Office into a hotel (Category: Breaking News)
- SJB asks President to hold early general election (Category: Breaking News)
- Mo Farah says his final 26.2-mile race will ‘be emotional’ (Category: Breaking News)
- Covid-19: Public not keen to receive booster jab – Doc (Category: Breaking News)
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