Investors are cashing in on the strong prospects of Sri Lanka’s apparel and textile exports sector, the country’s main export industry, which caters to some of the leading fashion brands globally. Although the South Asian island announced that it would default on its foreign debt earlier this year, the country’s exports and Foreign Direct Investment…
Zelenskyy said that several countries experiencing food and fuel shortages due to the disruption in the supply chain have benefitted Russia’s agenda. Kyiv: Ukrainian President Volodymyr Zelensky blamed Russia for causing unrest in Sri Lanka as well as around the world due to the blocking of food products during the invasion of Ukraine. One of the…
The National Chamber of Exporters of Sri Lanka urges the government to stabilize the crumbling political system and economy of the country by paying attention to the voice of the common people. Sri Lanka is currently facing the worst political instability and economic crisis since independence due to manifold reasons both short and long term….
By Prof. Samitha Hettige Botanists refer to “Kurukkan” or “Filler Millet” as “Eleusine coracana”. Some in SL refer to the late DM, DA and their Rajapaksa clan as the Kurahan clan because of the colour of the shawl they wear. Presidents Mahinda and Gotabaya managed to make their marks in SL history by leading the…
Bloomberg – Investors are shifting their focus to Sri Lanka’s bilateral creditors as the resignations of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe dim prospects for rapid aid from the International Monetary Fund. Global asset managers predict delays in loan disbursements, with Citigroup Inc. economists forecasting payouts not before early 2023. The concern is…
Considering the recent developments in relation to virtual currency usage in the international and domestic markets as well as the inquiries related to virtual currency, the Central Bank of Sri Lanka (CBSL) wishes to inform the public of the following. Virtual Currencies (VCs) are largely unregulated digital representations of value that are issued by private…
India’s top court has sentenced tycoon Vijay Mallya to four months in jail for disobeying an earlier court judgement linked to the collapse of his airline. (BBC) – India has previously made efforts to extradite the former billionaire, who is believed to still be in London. He made his fortune selling beer under the Kingfisher brand…
The import expenditure declined, while earnings from exports increased in May 2022, year-on-year, extending the contraction in the trade deficit for the third consecutive month. Meanwhile, tourist arrivals slowed in May 2022, compared to the previous month. Workers’ remittances increased in May 2022, compared to April 2022. Foreign investment in the government securities market and…
Reuters – Sri Lanka’s central bank governor signalled on Monday he would stay in the job but warned that prolonged political instability in the country may delay progress on negotiations with the International Monetary Fund for a bailout package. Governor P. Nandalal Weerasinghe, who has been holding bailout talks with the IMF since taking office…
Joint Chambers welcome the announcements made by the President that he will resign on the 13th of July respecting the wishes of the citizens and the Prime Ministers willingness to resign once an interim Government is in place. The Chambers believe that they should submit their letters of resignation immediately in accordance with constitutional provisions…
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