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Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection. Prime Minister Shehbaz Sharif for months held out against the tax rises and subsidy slashing demanded by the International Monetary Fund, fearful of backlash ahead of…
The US Political Affairs Under-Secretary Victoria Nuland, who is currently on an official visit to Sri Lanka, expressed her Government’s support for the on-going recovery efforts in the country. This was revealed during a meeting with President Ranil Wickremesinghe yesterday. During the discussions President Wickremesinghe extended his appreciation for the support provided by the US…
The Central Bank has issued an uncirculated commemorative coin in the denomination of Rs. 1,000 to mark the 75th Independence Day Celebration in the country. The first coin was officially presented to President Ranil Wickremesinghe by Central Bank Governor Dr. Nandalal Weerasinghe yesterday. This is the 71st commemorative coin that was issued by the Central…
State Minister of Finance Shehan Semasinghe on Wednesday held a comprehensive discussion with a delegation of the European Union (Sri Lanka and Maldives region) with the aim of identifying areas to upgrade the social security system in Sri Lanka. The State Minister pointed out the need to further streamline the selection of the people who…
The Colombo Chief Magistrate’s Court has ordered the release of detained Sri Lankan university student leader Wasantha Mudalige from a terror charges case but he will remain in remand custody over a number of other ongoing cases, a media report said. The privately owned NewsFirst reported that the court had ordered the release of Mudalige…
Sri Lanka recorded over than 6,000 dengue cases in the first three weeks of January 2023 after a spell of heavy monsoon rain though a drop in cases is likely from February, officials said. Health officials identified 6,204 dengue patients by January 22, up from 5,793 recorded in the corresponding period last year. “A rise…
Sri Lanka’s merchandise exports earnings fell 9.7 percent in December year-on-year as the island nation saw a drop in buying from its key export destinations which are facing a looming recession after the Russia-Ukraine war. The earnings from the merchandise exports recorded $1.04 billion in December 2022 compared to the same month in the previous…
Sri Lanka’s shares edged down on Tuesday as worries over delay in financial assurances from China which is mandatory for a $2.9 billion dollar IMF loan and rise in protests against tax hike kept investors in check, analysts said. The main All Share Price Index (ASPI) edged down by 0.28 percent or 24.62 points to…
