Sri Lanka had failed to attract substantial foreign investment in the mining industry during the last 50 years mainly due to the high sovereign risks associated with Sri Lanka, Chirantha Weerawardena, a mining engineer, said during a seminar, titled ‘Blueprint for Developing a Sustainable Sri Lankan Mining Industry by Attracting Foreign Investment,’ organised by the […]

Indian High Commissioner Santosh Jha has said India and Sri Lanka are natural partners and their interests in matters of security or development are intertwined and interlinked. “The huge potential our partnership holds and the tangible impact it can have on the lives of the common people drives me to work harder to further deepen […]

by Lasanda Kurukulasuriya Sri Lanka’s remarks at the meetings of the 19th Summit of the Non Aligned Movement in Uganda, must surely have had observers of international relations, especially relating to West Asia, scratching their heads. President Ranil Wickemesinghe in Kampala on Friday (19 Jan.) said he welcomed the fact that the 19th Summit gave […]

ECONOMYNEXT –President Ranil Wickremesinghe has invited political party leaders in Parliament to discuss the IMF agreement implementation with the fund’s Managing Director. “I am willing to extend an invitation to the Managing Director of the IMF to participate in a collective dialogue here. Let us collaboratively explore different perspectives and propose modifications if deemed beneficial,...

President Ranil Wickremesinghe extended an invitation to all political party leaders in the Parliament to engage in discussions with the Managing Director of the International Monetary Fund (IMF) on the implementation of the agreement with the IMF. Emphasizing the importance of unity in leading the country to success, he reiterated that withdrawing from the agreement […]

President Ranil Wickremesinghe, addressing the 30th Annual General Meeting of the Lanka Confectionary Manufacturers Association (LCMA) yesterday (24) at Cinnamon Grand Hotel, Colombo emphasized the potential for Sri Lanka to become a global player in the confectionery industry. He encouraged Sri Lankan confectioners to expand their horizons and tap into international markets. The President emphasi...

By Hiran H.Senewiratne Sri Lanka’s inflation could rise to 7 percent in January 2024 due to the VAT increase, the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe warned. Speaking at a special press briefing held yesterday, Dr. Weerasinghe explained that an increase in inflation is likely due to the increase […]

By Prof. Amarasiri de Silva Sri Lanka, renowned for its rich cultural heritage and diverse landscapes, is grappling with an unprecedented macroeconomic crisis. This crisis has given rise to acute shortages and sharp increases in the prices of essential products, creating a complex web of challenges. At the heart of this multifaceted crisis lies a […]

China’s consumer price index (CPI) fell by 0.3 per cent year on year in December, marking a third consecutive monthly decline amid fears of deflationary risks Concerns have risen that China is facing similar issues to Japan’s so-called lost decades of stagnation China’s falling consumer prices in the fourth quarter have plunged full-year inflation to […]

by Dr Amali Wedagedara In Sri Lanka, public policy lost in the neoliberal haze treats the market as a cure for all ills. Not only is the market omnipresent, but it is also omniscient and omnipotent. The charm of the ‘market’ that research and advocacy lobbyists are creating is so alluring that only a few […]

At a discussion at the World Economic Forum (WEF) stakeholder dialogue titled ‘Pulling back from the brink,’ held in Kurpark Village, Aspen, President Ranil Wickremesinghe outlined short-term strategies aimed at revitalizing Sri Lanka’s economy. Emphasizing tourism promotion, agricultural

Labour and Foreign Employment Minister Manusha Nanayakkara yesterday slammed Finance Ministry officials for their failure to protect the fisheries industriy and the fishing community. Addressing a meeting held at his Ministry, Minister Nanayakkara said that as a result of lack of understanding of realities, the Finance Ministry officials had not been able to prepare a […]

Sajith says govt.’s impending electoral defeat cannot be reversed through constitutional means By Shamindra Ferdinando The National Movement for Social Justice (NMSJ) has urged the Wickremesinghe-Rajapaksa government to put off the two-day debate on the proposed Online Safety Bill scheduled for January 23 and 24th. The NMSJ, led by former Yahapalana speaker Karu Jayasuriya, has […]

Public Security Minister Tiran Alles has explained the ongoing ‘Yukthiya’ operation to members of the Colombo-based diplomatic community. The Geneva-based United Nations Human Rights Commission has jumped to question the government operation. The Foreign Ministry said that Minister Alles provided an update on the progress made by the special operation against drug menace and underworld […]

By M. Rodwan Abouharb Associate Professor in International Relations, UCL and Bernhard Reinsberg Reader in Politics, University of Glasgow Sri Lanka received a bailout from the International Monetary Fund (IMF) in March amid soaring inflation, debt and a sovereign default. In exchange for US$3 billion (£2.4 billion), the government committed to spending cuts and tax […]

By Saman Indrajith Forty-eight-year-old Batticaloa District MP Sivanesathurai Chandrakanthan, popularly known as Pillayan, has been shaping the Eastern Province’s political narrative since he was a teenager. He was just 16-years old when he joined the LTTE in 1990 as a child soldier. Since then, he continued to rise in the ranks of the LTTE until […]

During a meeting between President Ranil Wickremesinghe, Sri Lankan authorities and the International Monetary Fund (IMF) on Thursday (11), the IMF congratulated the country on completing the first review under its program. The IMF highlighted the positive start of the program, recognizing the challenging reforms undertaken by Sri Lanka and their significant impact on the […]