The Rajapaksa family is racing to secure IMF funds as protesters seek to remove it from power. By Kai Schultz Bloomberg – Ahead of the November 2019 election, Sri Lankan presidential challenger Gotabaya Rajapaksa proposed sweeping tax cuts so reckless the incumbent government thought it must be a campaign gimmick. The finance minister at the…
The Silk Road Journal by Mahika Ming Hainan is China’s only tropical island located south of the mainland. It has many ancient Theravada Buddhist archaeological sites which attracts tourists from all over the world. Hainan also is famous due to the 108 meter Bodhisathva Guanyin statue (taller than the statue of Liberty in New York,…
COLOMBO, April 18 (Reuters) – Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines. President Gotabaya Rajapaksa’s government has come under growing pressure for its mishandling of the economy,…
By Mahika Ming PM Sirima (1970 – 77) was globetrotting while the masses were suffering, thus planted her own “political jungle” and stayed there in till 1989. President JR had a steam roller majority (with undated letters of resignation from MPs) since 1978 when India moved in to help SL 10 years later with their…
Shanta Devarajan, Professor at Georgetown University, and also a member of Sri Lanka’s Presidential Advisory Group on Multilateral Engagement and Debt Sustainability, discusses steps that the country should take to avoid a hard default. He speaks with Shery Ahn and Paul Allen on “Bloomberg Daybreak: Asia”. (Source: Bloomberg)
By Dr. Charitha Perera, Director – Transco Cargo Sri Lanka is in the midst of an economic crisis of unprecedented proportions today. Leading up to the crisis, the Central Bank of Sri Lanka kept the US Dollar frozen for a considerable period. This was when the Dollar was selling at the rate of Rs.203 and…
By Prof. Samitha Hettige The need for disciplined citizens is being widely discussed in Sri Lanka. It will make a; disciplined workforce, peaceful society and strong economy. At such a time, St. John Baptist De La Salle (1651 – 19719) who struggled for the cause is remembered with respect on his 303rd death anniversary on…
We repeat: a resilient biz sector shows no signs of wavering amid multiple crises – not yet Whether you view the devaluation of the Sri Lankan Rupee, the prospect of some form of debt restructuring and consequently, an easing of the economic restrictions that have threatened to bring Sri Lanka Inc. to a grinding halt……
The Silk Road Journal by Mahika Ming According to Chinese trade sources the Peoples Republic of China (PRC) was ranked second largest foreign capital inflow destination in the world by the United Nations Conference on Trade and Development (UNCTAD) in 2021. Recording a yearly increase of 32%, China has attracted more than USD 334 billion…
By: Dr Pulasthi Gunawardhana Senior Lecturer, Faculty of Technology, University of Sri Jayewardenepura In modern society Innovation and Entrepreneurship are crucial for long-term economic development. In recent years, the progress of Information and Communication Technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows…
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