Tag: Economy

Sri Lanka’s Ceylon Electricity Board is operating on a very thin margin as fuel is running out in all the major power plants and fuel stocks are available only for another week, while hydropower plants are using up all the reserved water, the Daily Mirror learns.

Sri Lanka’s Ceylon Electricity Board (CEB) had been plunged into a deep crisis as the Ceylon Petroleum Corporation (CPC) has been unable to supply the required stock of fuel to the Kelanitissa Power Plant which has already shut down from last night due to the lack of diesel stocks resulting in possible one and a half-hour power cuts from today.

Sri Lanka is the poster child for China’s so-called “debt trap diplomacy”, so asking Beijing for easier repayment terms looks logical amid a worsening financial crisis.

The Government yesterday announced a Rs 229 billion economic relief package which comprises a Rs 5000, salary hike for state workers, increase of pensions, Samurdhi and special stimulus payment for home gardens.

Prime Minister Mahinda Rajapaksa has cancelled a visit to the Dubai Expo scheduled for next week due to rising issues at home and amidst the economic crisis.

Colombo, Dec 28 (DailyMirror) - Secretary to the President P.B. Jayasundara who has tendered his resignation to President Gotabaya Rajapaksa is to be appointed as the President’s advisor once he steps down from his post and his position will be filled in by Gamini Senarath who is presently the Secretary to the Prime Minister, political sources said yesterday.

The world's economic output will exceed $100 trillion for the first time next year and it will take China a little longer than previously thought to overtake the United States as the No.1 economy, a report showed on Sunday.

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) has surpassed the 10,000-points mark for the first time in history. 

The Container Transporters’ Association has decided to increase transport charges by 20 percent from midnight today (December 21).

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index, increased to 11.1 per cent in November 2021 from 8.3 per cent in October 2021, according to the Statistics Department of the Central Bank of Sri Lanka.