Overseas Sri Lankan students are struggling to pay their tuition fees as the country’s economic crisis continues. The collapse of the Sri Lankan rupee, combined with limits on financial transfers out of the country, has left international students – many of whom rely on their parents to send them money – without any way to pay university…
The Committee on Public Enterprises (COPE) revealed that Building Materials Corporation (BMC) has not prepared any financial statements since 2016 This was revealed at the COPE meeting chaired by Hon. Prof. Charitha Herath to discuss the Auditor General’s Report for the Fiscal Year 2015 and 2016 of the Building Materials Corporation and its current performance….
SriLankan Airlines has been summoned before the COPE Committee to inquire into its current performance, COPE Chairman Hon. Prof. Charitha Herath said. Accordingly, SriLankan Airlines is scheduled to appear before the COPE on the 25th at 10.00 am. The Chairman of the COPE stated in Parliament on the 19th that SriLankan Airlines will be summoned…
Bloomberg – Sri Lanka may take nearly three weeks to appoint advisers to guide an overhaul of its debt, according to the country’s finance chief, a move seen as key to unlock emergency funds needed to ease its worsening economic crisis. The country is aiming to choose financial and legal advisers in 15 to 20…
AIA Insurance’s Womens Programme, ‘ඇය සුරකින AIA’ (Aya Surakina AIA) marks yet another milestone in collaboration with Commercial Bank of Ceylon (CBC) and International Finance Corporation (IFC) under its IFC-DFAT Women in Work programme to empower Sri Lankan women across the island by enhancing their financial stability with life insurance protection. This initiative with CBC offers…
The prevailing forex crisis in Sri Lanka has severely impacted many industries in the country’s economy, including the dairy industry. As an industry with endless potential to help the economy, the dairy industry is one of the most important industries in the country. However, rising costs, scarcity of feed, vitamins, fuel and fertilizer, and the…
20th April 2022, Colombo. On the 4th of April, MAS issued a statement expressing support of our citizen’s right to participate in peaceful protests and the freedom of expression. Given the ensuing events, MAS reiterates the need for immediate and decisive action to resolve the current economic and social crisis, in a peaceful and sustainable…
The management of SLT-MOBITEL, categorically denies the recent speculations and reports of a possible sale of Sri Lanka Telecom (SLT) assets. The company states that these reports have not been clarified from the SLT Board of Directors or the Secretary to the Treasury, being the entity that holds 49.5% of its shares. SLT reassures its…
Reuters – The International Monetary Fund said discussions with Sri Lanka on a potential IMF loan program are at an early stage and any deal would require “adequate assurances” that the island country’s debts can be put on a sustainable path. In a statement emailed to Reuters, IMF Sri Lanka Mission Chief Masahiro Nozaki said…
Oil prices plunged by more than 5% today as investors worried about a drop in demand after the International Monetary Fund cut its global growth forecast. By evening, the price of Brent crude, the main international oil contract, was down 5.4% to $107.11 per barrel, while the main US oil contract, WTI, fell 5.5% to…
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