Sri Lanka cuts rates to help fuel economic recovery COLOMBO: Sri Lanka’s central bank cut interest rates by 25 basis points on Wednesday in a surprise decision aimed at... Published 24 Jul, 2024 10:14am
World Sri Lanka paves way for Musk’s Starlink to enter telecoms market COLOMBO: Sri Lanka’s parliament approved amendments to a decades-old law on Tuesday to allow Elon Musk’s Starlink,... Updated 09 Jul, 2024 10:13pm
World Sri Lanka set to amend decades-old law to pave Starlink entry COLOMBO: Sri Lanka’s parliament will vote this week to change a law to allow Elon Musk’s Starlink, the satellite... Published 08 Jul, 2024 05:26pm
World Sri Lanka to save $3bn in debt write-offs post bond rework, president says COLOMBO: Sri Lanka will save $3 billion in debt write-offs from commercial creditors once a provisional deal to... Published 05 Jul, 2024 05:28pm
World Sri Lanka to save $5bn from bilateral debt deal COLOMBO: Sri Lanka will save $5 billion following the restructure of its bilateral debt, much of which is owed to... Published 02 Jul, 2024 11:56am
World Sri Lanka inflation climbs as food prices rise COLOMBO: Crisis-hit Sri Lanka’s annual inflation almost doubled to 1.7 percent in June, up from 0.9 percent the... Published 29 Jun, 2024 10:49am
Business & Finance Sri Lanka debt deal a key milestone towards restoring debt sustainability, IMF says COLOMBO: The International Monetary Fund (IMF) said on Thursday that Sri Lanka’s agreements with China and other... Published 27 Jun, 2024 09:56am
World Sri Lanka seals partial debt deal after financial crash COLOMBO: Cash-strapped Sri Lanka said Wednesday it had clinched a restructuring deal with a majority of bilateral... Published 27 Jun, 2024 06:52am
Business & Finance World Bank releases $250 million to bolster economic reforms in Sri Lanka The World Bank has released a second tranche of $250 million to support economic reforms in Sri Lanka, it said in a... Published 20 Dec, 2023 01:29pm
World Sri Lankan leader seeks to disarm India’s China fears COLOMBO: Sri Lanka’s president arrives in India on Thursday for his first visit to the regional powerhouse, with... Published 18 Jul, 2023 11:41am
Business & Finance IMF board poised to approve $2.9bn Sri Lanka bailout on 20th WASHINGTON: The International Monetary Fund on Tuesday said Sri Lanka has secured financing assurances from all ... Published 08 Mar, 2023 06:20am
World Sri Lanka president says China agrees to restructure loans COLOMBO: Sri Lanka’s president said Tuesday that China had agreed to restructure its loans to the bankrupt island... Updated 07 Mar, 2023 12:51pm
Business & Finance Sri Lanka to relax currency band as it moves towards market-driven exchange rate COLOMBO: Sri Lanka will relax its currency band from next week, its central bank said on Friday, as part of efforts... Published 06 Mar, 2023 08:09am
World Sri Lanka’s rate hike shows commitment to rapid disinflation: IMF COLOMBO: Sri Lanka’s decision to raise interest rates shows the crisis-hit country’s commitment to reducing... Updated 04 Mar, 2023 03:30pm
World Sri Lanka unexpectedly raises rates to fulfil IMF bailout requirements COLOMBO: Sri Lanka’s central bank raised interest rates in an unexpected move on Friday in a bid to help the country... Published 03 Mar, 2023 06:44pm
World Sri Lanka workers defy strike ban to protest rescue plan COLOMBO: Sri Lankan workers went on strike Wednesday in defiance of a government ban to protest a rescue plan for... Published 01 Mar, 2023 12:47pm
Markets World Bank’s IFC to provide Sri Lanka with $400mn financing COLOMBO: The International Finance Corporation (IFC), the World Bank’s investment arm, said it will provide Sri... Published 27 Feb, 2023 12:25pm
Business & Finance Paris Club creditors give assurances to support IMF bailout for Sri Lanka LONDON: The Paris Club of creditors has given financing assurances to support the International Monetary Fund’s... Published 13 Feb, 2023 05:57am
World Sri Lanka flags return to growth, protesters demand tax cuts COLOMBO: Sri Lanka’s economy is expected to grow again from the end of this year and the government hopes the... Published 08 Feb, 2023 05:00pm
World China has not done enough on Sri Lanka debt restructuring: US diplomat COLOMBO: The United States wants China to provide credible and specific assurances to the International Monetary... Published 01 Feb, 2023 05:34pm
World Sri Lanka economy could shrink by -3.5% to -4%, president says COLOMBO: Sri Lanka’s economy could contract by -3.5 or -4.0% in 2023 after shrinking -11% last year, President Ranil... Published 28 Jan, 2023 06:35pm
World India to back Sri Lanka’s debt restructuring plan COLOMBO: India will support Sri Lanka’s debt restructuring plan, Bloomberg News reported on Tuesday, as the island... Published 17 Jan, 2023 01:02pm
World Sri Lanka to cut recurrent budget expenditure by 6% in 2023 COLOMBO: Sri Lanka’s cabinet said on Tuesday that it will cut its recurrent budget expenditure by 6% in 2023 as the... Published 17 Jan, 2023 11:28am
World Sri Lanka to slash military by a third to cut costs COLOMBO: Sri Lanka will slash its army by a third to 135,000 personnel by next year and to 100,000 by 2030, the... Updated 13 Jan, 2023 02:41pm
World Sri Lanka finalises oil exploration rules, earmarks 900 offshore blocks COLOMBO: Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore... Published 12 Jan, 2023 06:38pm
World Sri Lanka says treasury running dry, cuts spending COLOMBO: Bankrupt Sri Lanka announced on Tuesday sharp government spending cuts and warned it had barely enough... Published 11 Jan, 2023 05:53am
World Bankrupt Sri Lanka says treasury running dry, cuts spending COLOMBO: Bankrupt Sri Lanka announced on Tuesday sharp government spending cuts and warned it had barely enough... Published 10 Jan, 2023 04:26pm
Markets Sri Lankan shares jump as IMF provisionally agrees on $2.9bn loan Sri Lankan shares kicked off September on a positive note on Thursday, extending gains to a third day, after the... Published 01 Sep, 2022 04:41pm
World Crisis-hit Sri Lanka strikes staff-level pact with IMF on loan COLOMBO: Sri Lanka and the International Monetary Fund (IMF) have reached a preliminary agreement on an emergency... Updated 31 Aug, 2022 12:19pm
World Sri Lanka says IMF bailout talks in ‘final stage’ COLOMBO: Cash-strapped Sri Lanka’s president announced further tax hikes and sweeping reforms on Tuesday, saying... Published 31 Aug, 2022 05:50am
Following $600mn Ambani wedding, India has set the stage for its next growth phase, Pakistan is still lost
Following $600mn Ambani wedding, India has set the stage for its next growth phase, Pakistan is still lost
Following $600mn Ambani wedding, India has set the stage for its next growth phase, Pakistan is still lost