Page 14 - Sri Lanka

Sri Lanka to form unit to help restructure state-owned enterprises: Prez

He also said value-added tax will be increased from 12 to 15 per cent effective from September 1 and the retirement age of government and semi-government employees will be reduced to 60 years

Sri Lanka introduces five-year multiple entry tourist visa scheme

In an effort to boost the tourism industry amid the economic crisis, the Sri Lankan govt on Tuesday said the island nation has extended its multiple-entry tourist visa to five years

Sri Lanka's economy continues to deteriorate, inflation rate spikes in July

The economic situation has continued to deteriorate in Sri Lanka, with the headline inflation rate spiking to another record high in July, World Food Programme (WFP) said on Tuesday

Sri Lanka president raises IMF loan hopes, budget aims to bolster revenue

Sri Lanka's talks with the IMF on a bailout package have made solid progress, its president said

Japan provides food assistance worth $1.5 mn to Sri Lanka under UNWFP

This first tranche forms part of the donation consisting of rice, lentils, and oil, which will be distributed by WFP to approximately 15,000 people in both urban and rural areas

Sri Lankan President to present interim budget with major relief measures

A comprehensive budget is also planned to be presented for the year 2023 in November

Latest LIVE: Nadda asks Kejriwal to prove innocence in liquor scam case

From the developments around Congress president elections to latest Covid news, catch all the live updates here

Crisis-hit Sri Lanka to privatise national carrier as it runs out of money

Sri Lanka on Monday said it will privatise the country's loss-making national carrier as the cash-strapped government "can no longer afford to inject money" into running the airline. The government is looking to sell a 49 per cent stake each of the SriLankan Airlines' catering and ground-handling units in efforts to restructure the state-run carrier, while 51 per cent will be retained under state hold, Aviation Minister Nimal Siripala de Silva told reporters here. This restructuring is essential as the government can no longer afford to inject money into running the airline, he said. Annually the government has been providing the airline between USD 80 billion to USD 200 billion to run its operations, de Silva said. The minister said the revenue from the sale of the catering operation can be used to pay off debt amounting to USD 80 million that was obtained by mortgaging its shares, as well as some other loans. The airline's debt currently amounts to USD 1.226 billion (LKR 401 ...

India, 9 other countries eye Lankan market to sell petroleum items: Report

Sri Lanka's Ministry of Power and Energy has said that 24 companies from 10 countries, including India have evinced interest in selling petroleum products in the crisis-hit country's petroleum sector, according to media reports. Sri Lanka is in the midst of its worst economic crisis in decades, which is triggered by a severe paucity of foreign exchange reserves. Sri Lanka's Minister of Power and Energy Kanchana Wijesekera said that 24 companies from the United Arab Emirates, Saudi Arabia, the United States, China, India, Russia, the UK, Malaysia, Norway and the Philippines have submitted proposals for the Expressions of Interest (EOI) to engage in the country's petroleum sector, news portal Colombo Page reported on Sunday. In July, the Ministry of Power and Energy had called for EOI from established companies in petroleum producing countries using their funds for distribution and selling of petroleum products in Sri Lanka on a long-term basis. A ministry-appointed panel will now ..

24 foreign firms show interest in petroleum business in Sri Lanka: Minister

Twenty-four companies from India, the United Arab Emirates, Saudi Arabia, the US, China, Russia, the UK, Malaysia, Norway, and the Philippines are interested in the petroleum business in Sri Lanka

'The ball is in Sri Lanka's court': China on debt restructuring request

China has said "the ball is in Sri Lanka's court" as it avoided giving a direct reply to the island nation's request of restructuring its debt, according to a media report. Sri Lankan has been urging China to restructure its debt as the nation continues to reel under an acute economic crisis. It is estimated that Sri Lanka owes debt payments of USD 1.5 to 2 billion this year to China. Overall China's loans and investments in Sri Lanka were estimated to be more than USD eight billion in the last few years. But Beijing has not made a public commitment for debt relief assistance to Sri Lanka so far. Quoting a Chinese embassy spokesman, the Daily Mirror news website on Saturday reported that Beijing had communicated to the Sri Lankan Finance Ministry three months ago about its readiness to discuss how to address the debt issue with the Chinese banks. China encouraged its banks to discuss it. The Chinese position was also communicated during the telephone conversation between Chinese .

Sri Lankan Navy arrests 6 Indian fishermen from Tamil Nadu, apprehends boat

The Sri Lankan Navy has arrested six Indian fishermen from Tamil Nadu and apprehended their boat

'Ball in Sri Lanka's court', says China on debt restructuring request

China has said "the ball is in Sri Lanka's court" as it avoided giving a direct reply to the island nation's request of restructuring its debt, according to a media report here on Saturday. Sri Lankan has been urging China to restructure its debt as the nation continues to reel under acute economic crisis. It is estimated that Sri Lanka owes debt payments of USD 1.5 to 2 billion this year to China. Overall China's loans and investments in Sri Lanka were estimated to be more than USD eight billion in the last few years. But Beijing has not made a public commitment for debt relief assistance to Sri Lanka so far. Quoting a Chinese embassy spokesman, Daily Mirror news website reported that Beijing had communicated to the Sri Lankan Finance Ministry three months ago about its readiness to discuss how to address the debt issue with the Chinese banks. China encouraged its banks to discuss it. The Chinese position was also communicated during the telephone conversation between Chinese Prem

India slams China, says Sri Lanka needs support, not 'unwanted pressure'

India on Saturday hit back at China for alleging that it was "interfering" in Sri Lanka's internal affairs, firmly telling Beijing that what Colombo needs now was "support, not unwanted pressure or unnecessary controversies" to serve another country's agenda. Hinting at India's objection to the docking of Chinese ballistic missile and satellite tracking ship 'Yuan Wang 5' at the Hambantota port, Chinese ambassador to Sri Lanka Qi Zhenhongon in a statement on Friday said that "external obstruction" based on so-called security concerns without any evidence is a "thorough interference" into the island nation's sovereignty and independence. "We have noted the remarks of the Chinese Ambassador. His violation of basic diplomatic etiquette may be a personal trait or reflecting a larger national attitude," the High Commission of India in Sri Lankan tweeted. It said Qi's view of India may be coloured by how his own country behaves. "India, we assure him, is very different," the Indian miss

Indian Coast Guard's presence ensures there is no influx from Sri Lanka: DG

He also lauded the Indian Coast Guard's effort in rescuing 32 Bangladesh fishermen and said the increase in presence in the sea has reduced the time to respond to a distress call.

Asia Cup 2022: SL vs AFG: Predicted XI, Time, Pitch Report and Toss

Sri Lanka vs Afghanistan: Sri Lanka will face Afghanistan in the first match of the Asia Cup 2022. Who will be the playing XI? Who can win the match? How's the pitch? Read to know more

WHO pledges to provide $4 mn worth of medical supplies to Sri Lanka

WHO Director-General also said that they have recognised the ongoing economic crisis in Sri Lanka and the impact Covid-19 was having on the health system

India urges citizens to examine relevant factors before visiting Sri Lanka

India on Thursday urged its nationals planning to visit Sri Lanka to exercise caution and especially called on them to consider factors like currency convertibility and the fuel situation in that country before undertaking any essential travel. Sri Lanka has been reeling under severe shortage of fuel and food in the last few months and the economic crisis has triggered massive protests in Colombo last month. India has extended assistance worth over USD 3.8 billion to Sri Lanka this year to help it deal with the economic crisis. "We have been following the developments there. Our understanding is that Indians are still the largest source of tourists for Sri Lanka," External Affairs Ministry Spokesperson Arindam Bagchi said. "As regards to the travel of Indians to Sri lanka in the current situation, let me emphasise that safety and well being of Indian nationals during their stay outside India including in Sri Lanka in this particular case, is always of prime interest to us," he ...

Sri Lankan President Wickremesinghe to present interim budget on Aug 30

Sri Lankan President Ranil Wickremesinghe who is also the finance minister will present an interim budget on August 30, seeking enhanced expenditure and borrowing limits for his cash-strapped government. The interim budget comes amidst the government's ongoing negotiations with the International Monetary Fund (IMF) for a possible bailout package. The Sri Lankan Parliament's communications office said President Wickremesinghe in his capacity as the finance minister will present the interim budget on August 30 and the lawmakers will debate the budget from Tuesday to Friday that week. The budget will seek an additional sum of LKR 929.4 billion to the originally approved figure of LKR 2,796.4 billion for 2021 as the increased government expenditure, it said. The budget will also seek an increase to the government's borrowing limit with an additional sum of LKR 892 billion -- up from the originally approved LKR 3,200 billion. Wickremesinghe has said he was keen to provide relief throug

Amid soft-peg crisis, Sri Lanka suspends imports of over 300 items from Wed

The list also included bags, bottle cases, jewellery boxes, powder-boxes, cutlery cases, toilet or facial tissue stock, towel or napkin stock