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…
Passengers with existing bookings will be offered refunds, airline says Khaleej Times – Budget carrier flydubai has suspended flights to Sri Lanka due to political and economic unrest in the South Asian country. The airline said it would refund those passengers who had booked their tickets. “Flydubai flights between Dubai and Colombo Airport (CMB) have…
COLOMBO, July 11 (Reuters) – Sri Lanka’s President Gotabaya Rajapaksa and the entire cabinet will resign to make way for a unity government, the prime minister’s office said on Monday, after tens of thousands of protesters stormed the official residences of both men. After Saturday’s sweeping protests in the wake of a debilitating economic crisis,…
Bloomberg – Sri Lanka’s opposition parties are trying to cobble together an all-party government and pick candidates who can take over after President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe agreed to step down, giving in to popular pressure in a country struggling to pay for essentials. Rajapaksa will step down on Wednesday to allow…
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