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By Michael Rowand As Sri Lankan protesters stormed the presidential residence in Colombo, the Chinese Embassy released no statements and did not tweet. The Chinese Ministry of Foreign Affairs offered no comment until Monday afternoon, well behind others such as India, the European Union, and the United States. The French Embassy even retweeted a tweet […]
[…]The post The Destiny Of China’s Colony Of Sri Lanka appeared first on Colombo Telegraph.
Rajapaksa finally resigns after over 3 month protest
Rate hike, fuel shortage, and looming political crisis weighed on investor sentiment
Some analysts said the market was expecting a 300 basis point rate hike on Thursday
Sri Lanka is desperate for foreign currency earnings through tourism
[…]The post Child’s Guide To True Cost Of Activities: Concept Of Opportunity Cost appeared first on Colombo Telegraph.
[…]The post Mission Impossible 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 of the Government is to hold discussions […]
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.
Protests beginning to father pace as petrol, diesel shortages threaten to bring the country to a standstill
Passenger transport, goods transport hit
Sri Lanka's ongoing economic crisis has threatened a looming food crisis.
Three-wheel drivers blocked the Galle Road in Dehiwala today and obstructed traffic, demanding fuel. The three-wheel drivers accused the authorities of failing to resolve the fuel crisis. They said that the crisis has affected their day-to-day income as they have not been able to operate their three-wheel taxis. The drivers placed their three-wheelers across one […]
Currency crisis has triggered forex shortages
[…]The post A Country In Peril While The Executive Experiments appeared first on Colombo Telegraph.
"China and the United States could work together to help Sri Lanka (to) overcome current difficulties (sp)."
[…]The post IMF – Eagerly Awaited – Desperation Grows! appeared first on Colombo Telegraph.
Sri Lanka may be compelled to buy more oil from Russia as the island nation hunts desperately for fuel amid an unprecedented economic crisis, the newly appointed Prime Minister said. Prime Minister Ranil Wickremesinghe said he would first look to other sources, but would be open to buying more crude from Moscow. Western nations largely […]
[…]The post Depart From The Comfort Zone! appeared first on Colombo Telegraph.
Sri Lanka has seen long queues across the country waiting for fuel amid severe dollars shortage.
Customers are sending questionaries to exporters on a daily basis inquiring about the country's situation.
The United Nations team in Sri Lanka and non-governmental organisations launched a joint Humanitarian Needs and Priorities (HNP) Plan today, calling for US$47.2 million to provide life-saving assistance to 1.7 million people worst-hit by the economic crisis over a four-month period, from June to September. This directly responds to the Government of Sri Lanka’s request […]
Sri Lanka is compelled to depend on other countries to manage the impacts of economic crisis.
Wickremesinghe is on the spotlight for his performance after accepting Prime Minister post unconditionally.
Prime Minister Ranil Wickremesinghe has warned that the next three weeks will be tough for Sri Lanka. Speaking in Parliament today, the Prime Minister said that the public must use fuel and gas as carefully as possible. He also said that unessential travel should be limited as much as possible. “Therefore, I urge all citizens […]
Foreign expatriates have stopped sending money through banking channels as black market gives them more rupees.