Economy

By Zinara Rathnayake COLOMBO - When Adnan Sheikh took his family on holiday to Sri Lanka last October, he booked them into a hotel for two weeks in Sarakkuwa beach, just off the coast from where the X-Press Pearl cargo ship caught fire and…
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By Marwaan Macan-Markar COLOMBO — As Sri Lanka’s dollar scarcity worsens, a fresh crop of unusual signs has surfaced about spreading shortages of basic goods. “Candles not available due to gas shortage” was one. It was placed at St.…
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By Basil Fernando Sri Lanka has entered into a period of crisis that is worse than it has ever faced in recent history. The economic and financial crises will last for a long time even if genuine effort is made to rescue the country even…
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By Tisaranee Gunasekara No astrologer in Sri Lanka reached such dizzy heights as Sumanadasa Abeygunawardane. He predicted for the Rajapaksas the future they wanted and was rewarded with power and riches at public expense. When the…
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COLOMBO - Sri Lanka consumer prices shot up a record 14% in December, surpassing a previous high of 11.1 from a month earlier, official figures showed on Saturday (22) as food and fuel shortages worsen. Senior ministers warned Parliament…
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By N. Sathiya Moorthy Much has been written about the economic crisis facing Sri Lanka and most of it ends up blaming the incumbent government of President Gotabaya Rajapaksa to the exclusion of the rest preceding his since Independence in…
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By Chandra Jayaratne You committed in the oath of office to comply with your duties and responsibilities as President in an honest manner and as per the Constitution and the Law of the Country. The Constitution you agreed to safeguard…
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COLOMBO - Sri Lanka unveiled a US$ 1.1 billion targeted relief package Tuesday (4) to help consumers pay soaring food costs as an economic crisis bites. The island's tourism-dependent economy was hammered by the pandemic and rampant…
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By Minoli Soysa and Hannah Ellis-Petersen  COLOMBO/NEW DELHI - Sri Lanka is facing a deepening financial and humanitarian crisis with fears it could go bankrupt in 2022 as inflation rises to record levels, food prices rocket and its…
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COLOMBO - Sri Lanka's food prices rose by a record 22.1% in December, official figures showed Saturday (Jan 1), as the country struggles to finance urgent imports to tackle an acute shortage of essentials. The census and statistics…
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