Developing nations are facing a catastrophic debt crisis in the coming months as rapid inflation, slowing growth, rising interest rates and a strengthening dollar coalesce into a perfect storm that could set off a wave of messy defaults and…
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Sri Lanka opposition leader Sajith Premadasa has proposed that, before increasing taxes on dollar-earning sectors, the government “take the dollars back” from the rupee-millionaires who became dollar-millionaires after the 2019 tax cuts
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Sri Lanka's Parliament on Tuesday (18) approved legislation allowing foreign competition in the local fuel market, ending a 19-year duopoly as the bankrupt island struggles to import oil
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Sri Lanka has lined up finances to import required drugs for the state hospitals for the next 12 months or more but procurement delays are creating shortfalls of some drugs from time to time, Health Minister Keheliya Rambukwelle said
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A woman arrested on charges of cheating had lured high profile victims by offering US dollars at below market rates and used blackmail to silence them, investigators said
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Sri Lanka's central bank held policy rates steady on Thursday (6), saying monetary conditions remain "sufficiently tight" after a massive rate-hike campaign earlier in the year as the crisis-hit nation grapples with red-hot inflation and…
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igun Wibisana and Sandra Kok, who own the SiTigun cafe on Penang Island in Malaysia, are facing an excruciating decision that could make or break their business of 14 years: Can they increase prices to cover rising expenses without driving…
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An import ban imposed in Sri Lanka which has severely impacted a number of industries will be reviewed every two weeks and amendments made as needed, to cabinet spokesman Ramesh Pathirana said on Tuesday (13)
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Sri Lanka tightened import restrictions Wednesday (24) with a ban on more than 300 additional items, as an economic crisis that has created months of shortages and toppled a president refuses to abate
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How it got into this situation requires more explanation. It’s a story of fiscal imprudence, unsustainable exchange rate policy and chronic mismanagement
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