Category: Local News

Sri Lanka has hired heavyweight financial and legal advisers Lazard and Clifford Chance as it prepares for the difficult task of renegotiating its debts, a trio of sources told Reuters on Monday.

Minister Manusha Nanayakkara says the most essential food items can be imported in the event foreign remittances amounting to USD 500 million is generated monthly.

Sri Lanka has decided to revise fuel Prices with effect from Tuesday (May 24) 3:00 AM.

Proposals for the 21st Amendment to the Constitution have been presented to the Cabinet of Ministers today (May 23).

The overall rate of inflation as measured by the National Consumer Price Index (NCPI) on year-on-Year basis is 33.8 percent in April 2022, according to the latest data from the Department of Census and Statistics.

Sri Lanka’s new Tourism Minister Harin Fernando has warned that if the 21st Amendment to the Constitution is not tabled at the Cabinet meeting today (May 23), he would not remain with the government.

The President SAARC Chamber of Commerce and Industry Iftikhar Ali Malik on Sunday urged the International Monetary Fund (IMF) to work out on timely bail out package to put defaulting Sri Lanka, a financially crumbled country on track.

Several more Cabinet Ministers took oaths before Sri Lankan President Gotabaya Rajapaksa at the President’s House in Colombo today (May 23).

A shortage of medicine caused by an economic crisis in Sri Lanka could soon cause deaths, doctors said, as hospitals are forced to postpone life-saving procedures for their patients because they do not have the necessary drugs.

Minister of Justice Dr. Wijayadasa Rajapakshe said that the 21st Amendment to the Constitution will be referred to the Cabinet for approval today (May 23).

Sri Lanka Prime Minister Ranil Wickremesinghe on Sunday thanked Tamil Nadu chief minister MK Stalin, as well as the people of India, after a fresh consignment, containing food items and milk, reached Colombo after being flagged off from Chennai, on May 18.

Governments need to subsidise the cost of food and energy for the poorest members of society and without the correct government support the protests seen in Sri Lanka could be repeated in other countries, the head of the International Monetary Fund (IMF) has warned.

Sri Lankan born Holt Labor Candidate Cassandra Fernando won a seat at the Australian federal election which was held on Saturday to elect members of the 47th Parliament of Australia.

A 36-year-old man has been arrested by the STF for possessing USD 50,000 during a raid in Welikada in Rajagiriya last evening (May 21).

Sri Lankan police on Sunday started a nationwide raid on those hoarding diesel or petrol for resale, a police spokesman told journalists in Colombo.

India extended an additional USD 500 million credit line to help Sri Lanka import fuel as the country has been struggling to pay for imports after its foreign exchange reserves plummeted sharply in recent times, causing a devaluation of its currency and spiralling inflation.