The BRICS Business Council has announced plans to establish a logistics hub in the United Arab Emirates (UAE), a decision that could significantly reshape global trade dynamics among its member nations and
The world’s largest container shipping company, the MSC, began in mid-2022 to re-route its vessels passing by Sri Lanka, on a new course that is approximately 15 nautical miles to the south
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Plots of land in the Colombo Port City have been allocated for foreign investors, but it is reported that only six plots have been acquired by the investors so far. “74 plots
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The IMF staff-level agreement with Sri Lanka on a USD2.9 billion programme, confirmed on 1 September, appears to signal a sharp change in policy settings in order to achieve macroeconomic stability, including
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The full text of the interim budget speech tabled today in the parliament by President Ranil Wickremesinghe is as follows; The Interim Budget is being presented today to the Parliament, in order
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Japan is Ready to Coordinate with Creditors Japan will coordinate with other creditors to resolve Sri Lanka’s deepening financial crisis, Finance Minister Shunichi Suzuki said on Tuesday, urging all creditor nations to
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The ports-to-power conglomerate Gautam Adani’s business is “deeply overleveraged,” as the organisation is heavily investing across existing as well as new businesses, profusely funded with debt, CreditSights, a Fitch Group unit, said
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The Government has launched a devastating assault on working people across the rural and urban divide. The increase of the kerosene price from Rs. 87 to Rs. 340 a litre—or roughly quadrupling
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Sri Lanka will ask Japan to invite the Indian Ocean island’s main creditor nations, including China and India, to talks on bilateral debt restructuring, as it seeks a way out of its
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In the 74 years since our independence, Sri Lanka has achieved much in terms of human development, despite lingering human rights issues and gaps in democratic governance. Yet we have been economically
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Is the recent rapid depreciation of the Sri Lanka Rupee (LKR) against the US$ unexpected or a result of foreign exchange policies adopted by the Central Bank of Sri Lanka (CBSL) since
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