Fitch Ratings upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘RD’ (Restricted Default), in its latest report.Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. The Long-Term Foreign-Currency IDR has been affirmed at ‘RD’ and the Country Ceiling at ‘B-‘. ...

By Sanath Nanayakkare The Global CEO Forum Sri Lanka held at the Galadari Hotel on Thursday showed a clear shift of discussion topics by Sri Lankan business leaders compared to what they were talking about just a year ago. Completely deviating from airing worries about how to run their businesses amid economic turmoil, business leaders […]

by Neville Ladduwahetty In order to assuage the apprehensions of India regarding the intended arrival of the Chinese research vessel Shi Yang 6 to Sri Lanka, an informed source of the National Aquatic Resources Research Agency (NARA) is reported to have said “a team of officials from the NARA would board Shi Yang 6 to […]

and eliminate fossil fuel-based electricity generation by […]

First Executive President JR Jayewardene’s grandson, Pradeep Jayewardene, who recently switched allegiance from SLFP to UNP, says that it is the duty of all to support President Ranil Wickremesinghe in his quest to steer the nation out of the prevailing crisis. “This is not the time to debate whether President Wickremesinghe has a mandate to […]

Monday 18th September, 2023 Some henchmen of the Rajapaksa family, which is responsible for ruining the economy, have taken upon themselves the task of investigating the causes of the country’s bankruptcy! They are all out to absolve their political masters of wrongdoing in a bid to shore up the latter’s chances of winning future elections. […]

By Jayantha Somasundaram When Dr Salvador Allende was elected President of Chile in 1970 at the head of a coalition that included the Socialist and Communist Parties, and with a mandate to nationalise foreign capital, carry out land reform and implement sweeping welfare measures, his government was targeted by Washington and opposed by Chile’s business […]

by Jehan Perera The increase in the price of petrol and diesel has been accompanied by the removal of the QR Code quota system for the purchase of fuel.  The elimination of long lines of vehicles, and people, outside of the fuel stations that existed a year ago is one of the signs of normalisation

Beijing [China], August 19 (ANI): Raising concerns regarding the financial crisis triggered by the downturn in China’s real estate market, Chinese investment firm Zhongrong Trust , which managed USD 87 billion worth of funds for corporate clients and wealthy individuals as of the end of 2022, had failed to pay the interest and principal on […]

By Y P Prakash India’s Strategic Lunar Missions Contrast with Sri Lanka’s Costly Ventures and Underutilized Infrastructure, Highlighting Investment Priorities and Technological Futures Over the course of several years, the investment in India’s space exploration missions has seen both accomplishments and financial considerations. In 2008, the pioneering Chandrayaan-1 mission was ...

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

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 […]

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