The Asian Development Bank (ADB) approved a $200 million emergency assistance loan for Sri Lanka, with funds repurposed from other ongoing ADB projects, to improve food security and protect the livelihoods of the poor and vulnerable, especially women and children.

Quoting the management company, the PMD said bookings have already been made for 15 events by December 31.

Colombo [Sri Lanka], August 27 (ANI): Even as Sri Lankan President Ranil Wickremesinghe has requested China to restructure its debt amid a severe economic crisis and shrinking foreign reserves, Beijing has chosen to maintain a deafening silence which reveals how disinterested the country is to extend a helping hand to the island nation at this […]

Wickremesinghe is budgeting in a sea of monetary instability

Wednesday 31st August, 2022 Trade unions in the power and energy sectors are up in arms against a government move to restructure the Ceylon Electricity Board (CEB) and the Ceylon Petroleum Corporation (CPC). They would have the public believe that the blame for the staggering losses the two institutions have been incurring should be laid […]

By Shamindra Ferdinando The Sri Lanka Institute of Directors (SLID) and Transparency International Sri Lanka (TISL) recently declared corruption as the root cause of Sri Lanka’s current political and economic crisis. The declaration was made in a statement titled, “SLID and TISL launch ‘Business Against Corruption’ Initiative” issued to the media after the two organisations […]

"If there is no flour, we simply cannot produce,” said Jayawardena.

The country is yet to see the impacts of economic crisis easing.

Hopes to stop money printing

He said the new mechanism, upon its completion, will also ensure that transparent laws and systems are in place.

IT industry also hit from ban on computer items

By Shamindra Ferdinando SJB MP Dr. Harsha de Silva yesterday said  that he was quite disappointed that his economic revival plan, or common minimum programme, presented in parliament on 12 August hadn’t received the anticipated response from political parties, represented in Parliament. The Colombo District lawmaker said so when The Island asked him whether political parties and President […...

Tuesday 30th August, 2022 Winston Churchill derisively called the Soviet Union a riddle wrapped in a mystery inside an enigma. One may, with apologies to him, call the present-day Sri Lanka a paradox enveloped in an irony inside a muddle. What is happening in this country defies comprehension, and is even more puzzling than the […]

Expat workers blamed for engaging in essential and non-essential imports

BY S VENKAT NARAYAN Our Special Correspondent NEW DELHI: The Chinese satellite and ballistic missile tracking ship Yuan Wang 5, which left Hambantota port on August 22, is currently mapping ocean bed 400 nautical miles (741 kilometres) south-southeast of Dondra Head, the southernmost tip of Sri Lanka, the Hindustan Times has reported. According to available information, […]

Talks with IMF delegation: Prime Minister Dinesh Gunawardena told an International Monetary Fund (IMF) team led by Peter Breuer and Masahiro Nozaki that the country’s social security net had to be strengthened.The Prime Minister’s Media Division has said the country is facing the worst-ever economic and social crisis since Independence. The Prime Minister told the […]

Another round of discussions with the International Monetary Fund, with the aim of finding solutions to the financial crisis facing Sri Lanka, was held last Wednesday (24) at the President’s Office under the patronage of President Ranil Wickremesinghe.President Wickremesinghe joined the meeting via zoom technology and both parties exchanged ideas in a positive manner. The […]

Japan is seeking to organize a Sri Lanka creditors’ conference, hoping it could help solve the Sri Lanka’s debt crisis, but uncertainties cloud the outlook for any talks, three people with knowledge of the planning said according to a Tokyo datelined Reuters dispatch on Friday.Tokyo is open to hosting talks among all the creditor nations […]

Sri Lanka is facing a looming food shortage after ban on fertilizer import

The UK no longer advises against all but essential travel to Sri Lanka

UK Birmingham Police had located about 6 of the missing people, however, locations were not disclosed

Steel prices up 350-pct, tiles up 300-pct and some fittings up 500-pct