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Worst crisis in modern times
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By Anjana Pasricha NEW DELHI — In Colombo, Sri Lanka’s capital, a sprawling port city showcased as a financial hub to rival Dubai is being set up on 269 hectares of land dredged from the sea. It is the latest of the huge Chinese-funded infrastructure projects in the island country that include a port and […]
Dhammika Perera has been backing successive government and held posts in some while running his businesses
The main stock index has fallen 4.4$% in the last two sessions.
After June 28, 2022, aircraft will have to carry their return fuel according to the CA notice to airmen (NOTAM)
Cabinet of ministers had given the approval to hike railway fares to meet the rising costs
The Government has decided to open the fuel import and retail sales market to companies from oil producing nations. Cabinet approval has been granted for the move, Energy Minister Kanchana Wijesekera said today. He said the companies will be selected on the ability to import fuel and operate without Forex requirements from the Central Bank […]
Selected firms will have to import fuel on credit and runs a currency risk
Oil agents asks Central Bank, Treasury to deal directly with principals
The Bar Association of Sri Lanka (BASL) has accused the authorities of misleading the public on the fuel supply. BASL noted that the Minister of Power and Energy held a press conference on 26th June 2022 and the information revealed at this press conference made it clear that the public have been kept in the […]
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The last shipment under Indian credit line arrived in on June 16. There has been no shipment since then
Companies with more than 60-pct dollar revenues will have to pay bills in dollars
Minister Gunawardena requested the public to limit nonessential travel and use fuel sparingly.
“Even today fewer than 10 per cent of buses are running. Drivers are on strike because they have no fuel."
Monetary meltdown worsens as money printed to keep rates down and pay state worker salaries
Sri Lanka unable to import fuel due to broken soft-peg
Promises inputs amid soft-peg crisis
Oil suppliers wary to supply Sri Lanka after recent downgrades
ECONOMYNEXT – Sri Lanka’s exports grew 9.9 percent to 980.2 million US dollars in May 2022 from a year ago, the island’s Export Development Board said as the country grapples with the worst currency crisis in the history of its central bank.Export to United States, the largest
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[…]The post Crisis Deepens Without Rescue Plan appeared first on Colombo Telegraph.
Stocks have been on a downward trend mainly due to higher interest rates
Prime Minister Ranil Wickremesinghe informed Parliament today that Sri Lanka was facing the threat of hitting rock bottom. He also said that going to the International Monetary Fund (IMF) is the only option Sri Lanka has to resolve the economic crisis. The Prime Minister said that the aim
Talks will continue over the next few days with an IMF delegation already in the island nation, he said.
Stock index rebound from near 8-week low.
[…]The post Sri Lankan Economy Heading Towards A Dangerous Phase appeared first on Colombo Telegraph.
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