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Stocks fall for the first time in five sessions.
[…]The post Is Sri Lanka On The Brink Of Another Covid Wave? appeared first on Colombo Telegraph.
Market has risen throughout the week, but in thin trade.
Indian delegation comes as Sri Lanka is highly depending on Indian credit line for its fuel and other essentials.
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.
[…]The post Sri Lankan Economy Heading Towards A Dangerous Phase appeared first on Colombo Telegraph.
Australia today insisted that Sri Lankans who arrive by boat will not be accepted. Home Affairs Minister Clare O’Neil will visit Sri Lanka on Monday as the South Asian neighbour continues to struggle with its economic and humanitarian crises. The trip also follows the interception of multiple asylum seeker boats travelling to Australia from the […]
[…]The post Aragalaya: Manufactured Economic Crisis & Peoples’ Suffering appeared first on Colombo Telegraph.
[…]The post Wizards Of Original Sin appeared first on Colombo Telegraph.
Passenger transport, goods transport hit
Prime Minister has warned of a food shortage from August.
[…]The post A Country In Peril While The Executive Experiments appeared first on Colombo Telegraph.
[…]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 […]
Dhammika Perera is widely speculated to be appointed as a cabinet minister - SLPP sources
The Government is looking to provide food free of charge to 10% of the population, Prime Minister Ranil Wickremesinghe said. He said that due to the pending food shortage he was launching a food security program in the country. Prime Minister Ranil Wickremesinghe added that he was hopeful that through the food security program the […]
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 […]
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 […]
[…]The post Sri Lanka’s Economic, Political & Human Crisis appeared first on Colombo Telegraph.
[…]The post RW’s Tax Hike Welcome But Much More To Be Done To Come Out Of The Crisis appeared first on Colombo Telegraph.
Money printing creates forex and fuel shortages
[…]The post Elon Musk To Rescue Sri Lanka From IMF Debt Bondage? appeared first on Colombo Telegraph.
Sri Lanka's rubber products can grow up to 30% in US dollar revenue if uninterrupted power supply ensured
Central bank has run out of reserves and is guidance rate
My Business International (www.mybusinessinternational.com), a comprehensive web portal that provides a much-needed platform for businesses in Sri Lanka to connect with foreign markets has officially been unveiled recently. It’s a time apt solution as Sri Lanka is facing an unprecedented economic crisis with a shortage of US Dollars causing great hardships across the country. As […]
[…]The post Changing Pillows To Cure Headaches: Politicians—Constitutional Amendment Mess appeared first on Colombo Telegraph.
The Government has decided to increase the Value Added Tax (VAT) from 8% to 12% and the Telecommunications Levy from 11.23% to 15%. The Prime Minister’s Office said that Sri Lanka introduced a low tax regime in late 2019. The reforms included the reduction of tax rates of Value Added Tax, Personal Income Tax (PIT) […]
The Central Bank of Sri Lanka (CBSL) today reassured its commitment to ensuring the availability of foreign exchange within the banking system for the importation of essential goods, including the food items. The Ministry of Finance issued Import Control Regulations on Payment Terms No.07 of 2022, dated 06 May 2022, and to be effective from […]