by Eng Parakrama Jayasinghe parajayasinghe@gmail.com  Electricity consumers reeling from the massive increase in tariff in February (adjusted somewhat in July 2023) were naturally appalled by the request for a further increase by the Ceylon Electricity Board (CEB).  A public consultation was held on 18 October 2023 by the Public Utilities Commission of Sri Lanka (PUCSL) […]

IMF staff and the Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the first review of the 48-month EFF-supported programme. Sri Lanka will have access to SDR 254 million (about 330 million U.S Dollars) in financing once the review is approved by the IMF Management and IMF Executive Board. Macroeconomic […]

The State Minister of Power and Energy D.V Chanaka during a press briefing held today (19) at the Presidential Media Centre (PMC) under the theme ‘Collective Path to a stable country’.stressed that there is no threat of fuel a shortage and emphasized that the necessary tenders for fuel import up to June of the next […]

Israel was warned by Egypt of potential violence three days before Hamas’ deadly cross-border raid, a US congressional panel chairman has said. House of Representatives Foreign Affairs Committee head Michael McCaul told reporters of the alleged warning. Israeli PM Benjamin Netanyahu described the reports as “absolutely false”. Israeli intelligence services are under scrutiny for ...

President Ranil Wickremesinghe yesterday issued orders to police to provide necessary security measures for Israelis in Sri Lanka The President issued the directive during his briefing to the Cabinet of Ministers, the President’s Media Division (PMD) said. PMD said: In a briefing to the Cabinet, President Ranil Wickremesinghe expressed deep concern over the recent attacks […]

The United States said it was “disturbed” by a Russian envoy’s announcement that Moscow will reverse its ratification of a 1996 treaty that banned the testing of nuclear weapons. Russia’s envoy to the Comprehensive Nuclear-Test-Ban Treaty Organization (CTBTO), Mikhail Ulyanov, said on Friday that Moscow will revoke its ratification of the pact. The announcement by Ulyanov […]

By Jehan Perera The government has allocated Rs 11 billion in the provisional budget for next year for the presidential elections due in September. This is a positive indication that the government intends to hold those elections.  Free and fair elections being held when due is a core concept of a functioning democracy. This was […]

Fitch Ratings upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘RD’ (Restricted Default), in its latest report.Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. The Long-Term Foreign-Currency IDR has been affirmed at ‘RD’ and the Country Ceiling at ‘B-‘. ...

By Sanath Nanayakkare The Global CEO Forum Sri Lanka held at the Galadari Hotel on Thursday showed a clear shift of discussion topics by Sri Lankan business leaders compared to what they were talking about just a year ago. Completely deviating from airing worries about how to run their businesses amid economic turmoil, business leaders […]

by Neville Ladduwahetty In order to assuage the apprehensions of India regarding the intended arrival of the Chinese research vessel Shi Yang 6 to Sri Lanka, an informed source of the National Aquatic Resources Research Agency (NARA) is reported to have said “a team of officials from the NARA would board Shi Yang 6 to […]

“Our focus is on achieving 70% renewable energy by 2023. This includes 25% from solar panels, 15% from wind power, and 10% from natural gas. However, transitioning the energy mix is a gradual process, requiring meticulous planning and execution. We aim to reach 60% renewable energy by 2026 and eliminate fossil fuel-based electricity generation by […]

First Executive President JR Jayewardene’s grandson, Pradeep Jayewardene, who recently switched allegiance from SLFP to UNP, says that it is the duty of all to support President Ranil Wickremesinghe in his quest to steer the nation out of the prevailing crisis. “This is not the time to debate whether President Wickremesinghe has a mandate to […]

Monday 18th September, 2023 Some henchmen of the Rajapaksa family, which is responsible for ruining the economy, have taken upon themselves the task of investigating the causes of the country’s bankruptcy! They are all out to absolve their political masters of wrongdoing in a bid to shore up the latter’s chances of winning future elections. […]

By Jayantha Somasundaram When Dr Salvador Allende was elected President of Chile in 1970 at the head of a coalition that included the Socialist and Communist Parties, and with a mandate to nationalise foreign capital, carry out land reform and implement sweeping welfare measures, his government was targeted by Washington and opposed by Chile’s business […]