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By Shiran Ranasinghe Filling station operators on Thursday, warned that they would take legal action against Ceylon Petroleum Corporation (CPC) if the state-owned entity stopped providing fuel to gas stations that refuse to enter into agreements with China’s Sinopec. President of the Ceylon
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part V appeared first on Colombo Telegraph.
India’s External Affairs Minister S Jaishankar on Wednesday pledged continued development assistance in every possible area to Sri Lanka amid its ongoing economic crisis.The post India will continue developmental assistance to Sri Lanka in every possible area: Jaishankar appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka’s consumer inflation rate more than halved to 4.6% year-on-year in July, helped by falling food prices, the statistics department said on Monday.The post Sri Lanka’s July consumer inflation more than halves to 4.6% appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka’s largest bilateral creditor, China, has assured the island nation its help in effectively addressing the debt challenges as it has to finalise the external and domestic debt restructuring of a whopping USD 41 billion by September before the IMF’s first review. The International Monetary Fund (IMF) is set to conduct its first review […]
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? – Part III appeared first on Colombo Telegraph.
Chinese oil major Sinopec expects to start operations in Sri Lanka on Sept. 20 and will be allowed to sell fuel for less than the maximum retail price set by the government, Sri Lanka's power minister said on Tuesday.The post Sri Lanka says China’s Sinopec to start operations September 20
The IMF will conduct the first review of the $2.9 billion bailout to Sri Lanka from September 11-19, state minister of finance Ranjith Siyambalapitiya said on Saturday and declared that the country has successfully fulfilled the nine conditions set by the global lender.The post IMF to conduct bailout review for Sri Lanka in September appeared first on ONLANKA - Sri Lanka Latest Breaking News and T...
By Anuradha Hiripitiyage The secretary of the Electricity Consumers’ Association, Sanjeewa Dhammika said yesterday (11) that the government was planning to spend about Rs 40 billion on emergency power purchases in the coming three months. Despite the government’s claims of promoting renewables, the Minister of Power and Energy Kanchana Wijesekera has presented a Cabinet paper […]
More than 3,000 US military personnel have arrived in the Red Sea on board two warships, part of a beefed-up response from the United States after alleged seizures of several civilian ships by Iran, the US Navy said. The US sailors and marines entered the Red Sea on Sunday after transiting through the Suez Canal […]
[…]The post Debt Restructuring, Austerity & The IMF: A Panacea Or An Exacerbation? appeared first on Colombo Telegraph.
[…]The post To Be Realistic, There Are Only Two Options appeared first on Colombo Telegraph.
By Rathindra Kuruwita The government had increased the price of fuel to enable Sinopec, China’s leading international petroleum company to maximise profit, Convenor of the SJB trade union wing, Samagi Joint Trade Union Alliance, Ananda Palitha, alleged yesterday. Palitha
China’s Sinopec, a leading international petroleum company, had imported its first consignment of fuel to be distributed in the local market, Power and Energy Minister Kanchana Wijesekara said yesterday (01). The Minister said in his Twitter that its second shipment would arrive today (03
First fuel cargo of Sinopec has commenced its discharging process, while the second cargo will arrive in Sri Lanka tomorrow (August 02), Minister of Power and Energy Kanchana Wijesekera said.The post First Sinopec fuel cargo commence discharging appeared first on ONLANKA - Sri Lanka Latest Breaking
Tuesday 1st August, 2023 The QR code-based rationing mechanism introduced one year ago has helped halve the national fuel consumption, the Ceylon Petroleum Corporation (CPC) has said, according to media reports. In fact, it helped bring order out of chaos and thereby saved current dispensation
Monday 24th July, 2023 President Ranil Wickremesinghe has returned from New Delhi with a to-do list given by the Modi government. He will have Big Brother breathing down his neck hereafter. It has been reported that the SLPP-UNP government is planning to hold an all-party conference on the ethnic issue. Some of India’s dictates have […]
The first two shipments of fuel under the agreement with China’s Sinopec are due to arrive in Sri Lanka in the first week of August, State Minister of Petroleum D.V. Chanaka said.The post First two Sinopec fuel shipments to arrive in Sri Lanka in August appeared first on ONLANKA - Sri Lanka
Islamabad [Pakistan], July 19 (ANI): Beyond the upcoming election cycle and the current standby agreement, Pakistan needs another International Monetary Fund (IMF) program and assistance from other multilateral lenders, the lender stated in a report released on Tuesday, according to Dawn. “Resolving Pakistan’s structural challenges, including long-term BOP [balance of payments] pressures, will req...
India and Sri Lanka said on Friday that they had agreed to improve economic ties by increasing cooperation in renewable energy and studying the feasibility of building an oil pipeline and a land bridge between the two countries.The post India, Sri Lanka agree to boost ties through energy, power and port projects appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka has notified the Indian rupee as a designated currency, Indian External Affairs Ministry Spokesperson Arindam Bagchi said on Thursday (July 20). “In terms of trading in our national currencies, Sri Lanka has already notified India Rupee as designated foreign currency in their system,” Bachi said during a weekly media interaction in New Delhi. […]
Sri Lankan President Ranil Wickremesinghe arrives in New Delhi on Thursday on a two-day visit hoping to strengthen economic ties between the South Asian countries.The post Infrastructure, energy and debt on agenda as Sri Lanka president arrives in India appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
by Y P Prakash The Sri Lankan government, led by Power & Energy Minister Kanchana Wijesekara, has placed significant emphasis on regional energy integration and grid connectivity between Sri Lanka and India. The target for implementing this initiative is 2030. Discussions regarding regional energy integration have been ongoing for more than two decades, and the […]
At first glance, life in Sri Lanka's financial capital Colombo looks deceptively normal.The post Is the worst over for Sri Lanka’s economic crisis? appeared first on ONLANKA - Sri Lanka Latest Breaking News and Top Stories.
Sri Lanka born international economist Dr. Howard Nicholas of Erasmus University, Netherlands has categorically stated that Sri Lanka must not adopt the IMF recommendations on monetary policy for it has no rational basis and evidence of success anywhere in the world. Coming from a Western based economist that provides a lot of food for thought […]
by Y P Prakash As Sri Lanka aims to meet its growing energy demands and explore opportunities for electricity generation and export, it can draw valuable lessons from the tripartite agreement between Nepal, India, and Bangladesh. This agreement has facilitated the development of robust grid connectivity, enabling the efficient exchange of electricity among the participating […]
The visit of President Ranil Wickremesinghe to India has significance in a number of spheres from development to strategic partnership with Sri Lanka’s immediate neighbor. As India tries to move forward with stalled initiatives with its crisis-hit neighbour, Sri Lanka is keen on discussing energy, power and port projects according to Foreign Minister Ali Sabry. […]
BEIJING, June 28 (Reuters) – Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8% year-on-year slump in profits came on top of the 20.6% contraction in January-April, and added […]
[…]The post Towards A False Dawn appeared first on Colombo Telegraph.
Sri Lanka is likely to discuss energy, power and port projects during a presidential visit to New Delhi next week, the Foreign Minister said, as India tries to push forward stalled initiatives with its crisis-hit neighbour. India’s support was critical for Sri Lanka last year after it almost ran out of dollars and sank into […]