The nagging question of how Sri Lanka would repay the USD 1.5 billion loan it had taken from China to build the non-performing Hambantota harbour has now been resolved with Beijing agreeing to convert 80 per cent of the debt into equity. To make the …
The World Bank’s latest Sri Lanka Development Update – a half-yearly report on the Sri Lankan economy and its prospects – finds that monetary and fiscal policy corrections and the start of a new IMF program have contributed to improving short-term stability of Sri Lanka’s …
Sri Lanka has become South Asia’s first member of the Open Government Partnership as it formally joined the 70-nation Open Government Partnership (OGP) following an invitation from the group. Justice Minister Wijeyadasa Rajapakshe in a letter to the co-chairs of the OGP said Sri Lanka …
Uber drivers are not self-employed and should be paid the “national living wage”, a UK employment court has ruled in a landmark case which could affect tens of thousands of workers in the gig economy. The ride-hailing app could now be open to claims from …
One of the main organizers of the newly established Hindu organization Sivan Senai, Maravanpulavu K. Satchithananthan, when asked about rumours that the organization is being backed by India’s Research and Analysis Wing(RAW) he said, earlier the CIA of America and the MI5 of England was …
The NGO, Society for Threatened Peoples (STP) and the National Fisheries Solidarity Movement (NAFSO) published a 50 page report titled ‘Under the Military’s Shadow’, reviewing the situation for the local communities on the Tamil dominated Jaffna Peninsula in the North of Sri Lanka. The Society for Threatened …
A delegation of the European Parliament is to visit Sri Lanka to discuss national reconciliation and greater women’s empowerment. The EU office in Colombo said that progress on national reconciliation and ways to empower Sri Lankan women politically and economically will be the focus of …
Sri Lanka will introduce concessions on investments and a lower tax regime in its next budget to boost faltering investment, Prime Minister Ranil Wickremesinghe told the parliament. Wickremesinghe said the government plans to create a positive investment climate that will generate jobs and remove obstacles …
Sri Lanka will sell to a Chinese company 80 percent of a $1.5-billion port in its south, where China has also been offered an investment zone, in a bid to cut the country’s debt burden, Finance Minister Ravi Karunanayake said. The move follows an offer …
The Sri Lankan parliament’s Committee on Public Enterprises (COPE) on Friday recommended legal action against former Central Bank Governor Arjuna Mahendran and other officials for being involved in controversial bond issues. Sunil Handunnetti, Chairman of COPE, presenting the report to Parliament said that evidence brought …