By Shiran Ranasinghe and Sanath Nanayakkara The Ceylon Petroleum Corporation (CPC) has still not paid for a ship carrying 40,000 tonnes of diesel that had arrived in Colombo Port on 16 July 16. The CPC has to pay 52 million dollars to the Dubai based Coral Energy before unloading the diesel. Moreover, the CPC also […]

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 Ifham Nizam The Ministry of Agriculture had yesterday decided to establish a dollar account for the development of the agriculture sector for the country’s food security, a senior Ministry official said.Chairman of the Presidential Committee on National Food Security, Dr. Suren Batagoda, said that if Sri Lanka’s food security is not ensured, the people […]

Until an adequate macroeconomic policy framework is in place, the World Bank does not plan to offer new financing to Sri Lanka, it was announced yesterday.Issuing a statement, the World Bank said that a macroeconomic policy framework requires deep structural reforms that focus on economic stabilisation, and also on addressing the root structural causes that […]

Yield in 3-month T-bills fall

Food prices up 90 percent over 12 months

Sovereign default together with increasing economic challenges poses significant downside risks to DFCC's profitability

US top buyer

The kerb rate for the US dollar was 379/380 rupees

The World Bank Group says it is deeply concerned about the dire economic situation and its impact on the people of Sri Lanka.

Has government securities

Chevron had imported lubricants on credit and had been hit as the rupee collapsed

British Politics and Ours Both Sri Lanka and the UK have experienced an unprecedented political upheaval of late. It is interesting that both leaders agreed to resign within a day of each other. Everybody else saw the ‘the end is nigh’ sign for quite a while. They didn’t or didn’t want to see it until […]

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? […]

By Saman indrajith The Russian energy company that sent representatives to Sri Lanka recently had presented the government with an MoU, National Freedom Front (NFF) leader, Wimal Weerawansa said in Parliament on Wednesday. If the Wickremesinghe administration was willing to sign the MoU, the Russians would supply fuel to Sri Lanka on credit, Weerawansa said. […]

Sri Lanka has raised 135 billion rupees via T-bills & T-bonds this week

A default on local-currency debt could erode local banks’ capital positions

New govt dominated by Rajapaksa linked party

The Foreign Ministry announces with deep sorrow the passing away of Mr. Moragodage Christopher Walter Pinto, famously known as Mr. Chris Pinto, on 21 July, 2022, in the Hague, Netherlands. Mr. Pinto was the first Legal Advisor of the Ministry of Foreign Affairs who established the Legal Division of the Ministry in 1967. Mr. Pinto […]

Bangladesh has formally requested for a USD 4.5 bn loan from Washington-based multilateral lender International Monetary Fund (IMF) to tackle the ongoing financial crisis in the country, the country’s media reported.Bangladesh has asked for the loan from the IMF in view of rapidly declining foreign exchange (Forex) reserves, Dhaka Tribune reported. In a letter to […]

Net finance income up, inflation boosts revenue