sri lanka news - Financial Daily News Site

IOC Provides Fuel As Government Pumps Go Dry

IOC Provides Fuel As Government Pumps Go Dry

Lanka IOC, the subsidiary of Indian Oil Corporation in Sri Lanka, kept its pumps open throughout Tuesday as the cash-starved government’s fuel entity’s fuel stations did not operate in the island nation due to the worsening energy crisis. On Monday, the Sri Lankan government announced that only essential services will operate from midnight till July … Read more

Was cash-strapped Sri Lanka duped by China in Hambantota Port? – Opinion

Was cash-strapped Sri Lanka duped by China in Hambantota Port? - Opinion

Two car-shipping carriers berthed at Sri Lanka’s Chinese-built Hambantota Port (AFP)   THE HINDU: The Chinese-built Hambantota Port has become a millstone around Sri Lanka’s neck, as the seaport has landed Colombo in a dragon debt trap and is commercially unviable, with little hope of traffic revival in … Read more

Sri Lanka Truck Driver Dies After Waiting For 5 Days in Queue at Fuel Station

Sri Lanka Truck Driver Dies After Waiting For 5 Days in Queue at Fuel Station

Colombo: In a grave tragedy, a 63-year-old truck driver has died in Sri Lanka after standing for five days in a queue at a fuel filling station in the country’s Western Province, reported news agency PTI. This was the 10th death reported due to prolonged waiting for fuel procurement in the debt-ridden island nation grappling … Read more

Newly-restored Embilipitiya Paper Mill to save extensive outflow of dollars, says BOI – Business News

Newly-restored Embilipitiya Paper Mill to save extensive outflow of dollars, says BOI - Business News

From right: BOI Chairman Raja Edirisuriya and Director General Renuka M. Weerakone with KSPA Directors Saveen Abeyratne and Sonali Abeyratne at the occasion of signing the agreement    Korean SPA Packaging (Pvt.) Ltd (KSPA) recently signed an agreement with the Board of Investment (BOI) with respect to the … Read more

Is Sri Lanka Seeking Russia’s Help Amid Oil Shortage? Minister Says…

Sri Lanka Left With Fuel Stocks For Around Five Days: Minister

Sri Lanka Economic Crisis: Sri Lanka is facing its worst economic crisis since gaining independence. Colombo: Sri Lanka has reached out to several companies suggested by Russia’s embassy in Colombo to buy crude oil, Energy Minister Kanchana Wijesekera said on Sunday, in an attempt by the debt-ridden island nation to get oil on credit to … Read more

Slea proposes measures to overcome economic crisis – Opinion

Slea proposes measures to overcome economic crisis - Opinion

  Sri Lanka is currently undergoing an unprecedented economic crisis caused by the depletion of foreign exchange reserves and government revenue, as well as by a sovereign debt crisis.  This has inflicted a devastating impact on people’s lives and the economy’s smooth operation. The magnitude and impact of … Read more

India’s SEA urges PM Wickremesinghe to reconsider oil palm cultivation ban – Business News

India’s SEA urges PM Wickremesinghe to reconsider oil palm cultivation ban - Business News

Says SL has opportunity to be self-sufficient in cooking oil if oil palm cultivation allowed to continue  Says it will allow SL to trim import bill and save much-needed forex Says together with APOA willing to support oil palm cultivation in SL Dismisses claim that oil palm plantations … Read more

Blinken discusses economic, political challenges with Sri Lanka’s PM

Antony Blinken

US Secretary of State Antony Blinken on Monday (local time) discussed the current economic and political challenges with Sri Lanka’s Prime Minister Ranil Wickremesinghe. Blinken spoke with Sri Lankan PM Ranil Wickremesinghe and affirmed the US commitment to the Sri Lankan people during this challenging time and the importance … Read more

Sri Lanka needs a road map to convince private creditors – Features

Sri Lanka needs a road map to convince private creditors - Features

As Prof. Buchheit points out, this exercise is not simply an arithmetic decision but must take into account social and political and even moral issues as to how much of the burden can be placed upon the citizens of Sri Lanka   Having sat in bank board debt … Read more

India foreign minister to brief parliamentary panel on Sri Lanka crisis

India foreign minister to brief parliamentary panel on Sri Lanka crisis

India’s External Affairs Minister S. Jaishankar will brief the Parliamentary Consultative Committee on External Affairs on June 18 over the ongoing crisis in Sri Lanka, Indian media reported. Apart from Jaishankar, India’s Foreign Secretary and other MEA officers will be present at the meeting at the ministry office at 11 am. During the meeting, the … Read more