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 […]

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

Yala cultivation of 512,000 ha would be record

Workers who appeared for the test will also be given the opportunity to appear in another field next year.

"We are seeing the pressure on the rupee easing as a result of exports growing and imports contracting."

‘Inflation will not be as high as initially expected’ Inflation will not be as high as initially expected and there are signs of economy stabilising, Central Bank Governor Dr. Nandalal Weerasinghe says.Dr. Weerasinghe said that during the past few months a number of initiatives had been made to improve the economy and they were yielding […]

The grant was given in response to a request by Sri Lanka’s government.

By Hiran H.Senewiratne The CSE turned negative yesterday having traded with a bullish run for 12 consecutive days due to profit- takings of many counters, especially blue-chip counters. This development could be considered as the market correction, stock market analysts said. Sri Lanka’s shares fell over 1 per cent in mid-day trade, pulled down by […]

The manufacturing PMI declined to 41.4 from 44.1

To carry the extra fuel, we can't carry all the freight we like to into the country

by Jehan Perera The government appears to have secured political stability in the short term.  So far President Ranil Wickremesinghe’s efforts to restore stability appear to be working. Political stability is necessary for decisions to be made and kept.  It is a necessary element for international support to come in.  One of the IMF’s conditions […]

The above statement was made by Manusha Nanayakkara our Labour & Foreign Employment Minister. How the Minister is going to do it is not known.I wish to make a few suggestions to the Minister for his consideration to implement his proposal. Tourists, migrant workers and the dual citizens were the people whom the Minister referred […]

Calls for unity in a country torn apart by nationalism and monetary instability

by Jayampathy Molligoda Inflation is too high in Sri Lanka; people are finding it unbearable. How can we control the inflation from further slipping? Singapore experience and structure of our CBSL:  Singapore has the Monetary Authority Singapore (‘MAS’) as their Central Bank, where in Sri Lanka, we have the Central Bank of Sri Lanka (which […]

by Sanath Nanayakkare As the 3rd and 4th quarters of the Year 2022 are also likely to gravitate towards a tough time, the Bank of Ceylon needs to continue to focus on efficient handling of its resources and finances, BOC Chairman Kanchana Ratwatte said yesterday. He made these remarks when the Bank marked its 83rd […]

The Government and the Central Bank of Sri Lanka (CBSL) have been implementing several measures to ease the burden of the current economic hardships on the people. One major factor that is contributing to the current crisis and the resultant hardships is the lack of foreign exchange liquidity in the banking system. Such shortage of […]

We need to only remind ourselves of what happened to Greece and China (KMT) - D S Sennayake

By Ifham Nizam Many professionals including medical specialists were spending days and nights in fuel queues, but the engineers of the Ceylon Electricity Board had no such problem as the government giving priority to supplying fuel for power generation, a senior Power and Energy Ministry official said. Despite everyone else undergoing untold hardships trying to […]

By By Eng. Parakrma Jayasinghe Bio Energy Association of Sri Lanka The much-awaited outcome of the interim President is now over. Will this result in some measure of hope for the beleaguered public of reversing the downward slide of the economy and the resultant crisis on the very livelihood of most strata of the society? […]

Hambantota in southern Sri Lanka housed ousted President Gotabaya Rajapaksa following the recent crisis, until he was forced to flee the country entirely. That continues a trend of the city, and especially its strategic deep-sea port, being in the news for all the wrong reasons. In 2017, when Sri Lanka found itself struggling to make […]