Category: Local News

A bull run in Sri Lanka’s defaulted bonds may be nearing its end as investors turn skeptical over more gains with a successful debt revamp already priced in.

Sri Lanka’s government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.

Sri Lanka President Ranil Wickremesinghe in his capacity as Minister of Finance commenced presenting the Budget Speech 2024 at 12:00 PM today (November 13).

Sri Lanka is likely to raise taxes and curb spending in its annual budget to meet the International Monetary Fund’s conditions and maintain a $3 billion bailout, but elections next year might see the government delay some reforms.

Four members of the same family have been reported missing after a landslide buried a house in Gawaranghena, Balangoda on Sunday (November 12).

The People’s Republic of China officially handed over 26 RANOMOTO motorcycles and 100 LENOVO desktop computers to the Sri Lanka Police Department in a ceremony at the Presidential Secretariat on Friday (November 10).

Three persons including the Chairman of the Central Environment Authority (CEA), Supun Shashendra Pathirage, were arrested by Bribery Commission officials a short while ago for soliciting a bribe of Rs.10 million from a person.

The World Bank’s Board of Executive Directors today approved $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector.

The Executive Board has approved a proposal to be considered by the Board of Governors to conclude the 16th General Review of Quotas with a significant increase in quotas.

The resolution for the removal of the officials including the Chairman of Sri Lanka Cricket was unanimously passed in Parliament of Sri Lanka a short while ago.

Commander of the U.S. Special Operations Command Pacific Rear Admiral Jeromy B Williams paid a courtesy call on Sri Lanka’s Defence Secretary General Kamal Gunaratne at the Defence Ministry in Sri Jayawardenepura Kotte, today (November 09).

Sri Lanka President Ranil Wickremesinghe will seek to boost tax revenue and rationalise spending in the government’s second full-year budget on Monday, targeting a return to growth for the crisis-hit economy while keeping an eye on elections.

The remains of Sujith Bandara Yatawara, who was killed in the Israel-Hamas conflict, was brought to Sri Lanka this morning (November 09).

Sri Lanka President Ranil Wickremesinghe has issued an Extraordinary Gazette notification this evening (November 08) declaring the postal service as an essential public service.

Sri Lanka and Argentina remain very vulnerable amid a worsening in global financial conditions while China has suffered a sharp deterioration in financial resilience since pre-COVID times, a think-tank study found on Wednesday.

The U.S. International Development Finance Corporation (DFC) today (November 08) announced it has committed more than half a billion dollars to support the development of a deepwater shipping container terminal in the Port of Colombo, Sri Lanka, that will provide critical infrastructure for the South Asian region.