Economy

COLOMBO - Sri Lanka’s plantations stocks plunged after President Gotabaya Rajapaksa said they would be required to uproot oil palm from the fields in stages and said imports of palm oil was banned effective April 6, while coconut plantation…
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COLOMBO – Sri Lanka’s gross domestic product in 2021 has been downgraded to 4.0% by the International Monetary Fund (IMF) from a 5.3% forecast in October 2020, with global growth upgraded to 6.5% from an earlier 6.0%. Sri Lanka has…
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By Minoli De Soysa Trapped between unscrupulous microfinance companies and duplicitous governments, Sri Lanka’s rural women farmers are drowning in debt. Over 200 have committed suicide, some with their young children; families have been…
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COLOMBO – Sri Lanka’s President Gotabaya Rajapaksa has banned the import of palm oil and plantations companies have been instructed to uproot oil palm trees 10% at a time and  plant rubber in their place. The President’s Office in a…
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By P. K. Balachandran COLOMBO - Conflicting signals emanating from the Sri Lankan government suggest that the long-delayed elections to the nine Provincial Councils may not be held any time soon. Though various reasons are cited to…
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COLOMBO - Sri Lanka and China have signed a $1.5 billion currency swap deal, the island nation's central bank said Tuesday (23), as it struggles with a major foreign exchange crisis and debt repayments. Colombo had been negotiating for…
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COLOMBO – Sri Lanka has extended a ban on domestic bank purchases of international sovereign bonds till April 9, 2021, in a bid to contain pressure on the exchange rate, the central bank said. “The central bank with a view to easing…
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By P. K. Balachandran COLOMBO - The forthcoming visit of Sri Lankan Prime Minister Mahinda Rajapaksa to Bangladesh to participate in the grand celebrations connected with the 50th anniversary of Bangladesh’s independence, offers a golden…
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By David Brooks This has been one of the most quietly consequential weeks in recent American politics. The COVID-19 relief law that was just enacted is one of the most important pieces of legislation of our lifetimes. As Eric Levitz…
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COLOMBO - Vice Minister of Foreign Affairs of China,  Luo Zhaohui has assured of his country’s support to Sri Lanka at the United Nations Human Rights Council (UNHRC) and continued assistance as Sri Lanka confronts critical economic…
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