The Ceylon Electricity Board, in a clarification to a Sri Lankan business daily, has said that the Indian government recommended Adani Green Energy Limited (AGEL) for constructing wind power projects in the Mannar and Pooneryn regions of the country, according to a media report. Under the MoU signed with CEB, AGEL … Read more
A four-member Indian delegation led by Foreign Secretary Vinay Kwatra met Sri Lankan President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe on Thursday to assess the bilateral assistance provided by New Delhi in the wake of the island nation’s ongoing economic crisis. According to Sri Lanka’s Ministry of Foreign … Read more
Sri Lankan High Commissioner Milinda Moragoda on Friday met Finance Minister Nirmala Sitharaman and explored the possibility of India increasing its financial assistance to the island nation to help it deal with its severe economic crisis. In the meeting, Moragoda reiterated that Sri Lanka would require “bridging finance” until the … Read more
NEW DELHI: Worries over Sri Lanka operations, which accounted for 17 per cent of FY22 sales, have weighed heavily on shares of recent debutant . While analysts do see the issue to impact the profitability of the non-exclusive franchise of YUM! brands (in India and Sri Lanka) in the short term, they are finding comfort … Read more
Sri Lankan police have arrested at least 1,500 people so far in connection with the violent clashes between anti- and pro-government protesters in the country earlier this month that killed at least 10 people and injured over 200 others, according to a media report on Monday. On May 9, violence erupted in Sri Lanka after … Read more
A shortage of medicine caused by an economic crisis in Sri Lanka could soon cause deaths, doctors said, as hospitals are forced to postpone life-saving procedures for their patients because they do not have the necessary drugs. Sri Lanka imports more than 80% of its medical supplies but with foreign currency reserves running out because … Read more
Sri Lankan Prime Minister Ranil Wickremesinghe told Parliament on Thursday that no shoot-on-sight orders were issued to the Defence Ministry amidst violent anti-government protests in the island nation. On May 10, Sri Lanka’s Ministry of Defence ordered the Army, the Air Force and the Navy personnel to open fire on anyone looting public property or … Read more
Gripped by a severe economic crisis, Sri Lanka, a major player in the global tea market, has not been able to export tea, creating an opportunity for the Indian tea industry to tap the market. The tea traders of North Bengal said that the present condition in Sri Lanka, which … Read more
Crisis-hit Sri Lanka on Wednesday revealed that it does not have foreign exchange to pay for a vessel of petrol anchored in its waters for nearly two months as it appealed to citizens “not to wait in line” for fuel. However, the country has received sufficient stocks of diesel, the government said. Since March 28, … Read more
A no-confidence motion tabled by the Opposition against Sri Lankan President Gotabaya Rajapaksa was defeated in Parliament on Tuesday, in a comfortable win for the embattled President amidst nationwide protests demanding his resignation due to the country’s worst-ever economic crisis. The motion by Opposition Tamil National Alliance (TNA) MP M A Sumanthiran to suspend Parliament’s … Read more