Hundreds of bakeries shut in Sri Lanka after cooking gas runs out
COLOMBO (Reuters) – Nearly 1,000 bakeries have closed in Sri Lanka due to a severe shortage of cooking gas, anContinue Reading
Category: Business Briefing
U.S. crude oil briefly tops $130 a barrel, a 13-year high on possible Western ban of Russian oil
U.S. crude oil surged more than 7% in Sunday evening trade as the market continued to react to supply disruptionsContinue Reading
Fertiliser ban decimates Sri Lankan crops as government popularity ebbs
AGBOPURA, Sri Lanka (Reuters) – W.M. Seneviratne sat watching a mechanised harvester slice through the jade green fields around himContinue Reading
IMF urges Sri Lanka to raise taxes, devalue currency
(AFP)-The International Monetary Fund warned crisis-hit Sri Lanka on Thursday that its foreign debt was “unsustainable”, and called for devaluationContinue Reading
Sri Lanka sacks energy minister a day after publicly criticizing the government’s monetary policy as economic crisis deepens
Sri Lanka’s president sacked his energy minister on Thursday as fuel shortages left the near-bankrupt island facing its worst blackoutsContinue Reading
Sri Lanka runs out of fuel as dollar crisis worsens; President says no more power cuts after March 5
(AFP/Reuters)-Sri Lanka’s public transport was crippled Wednesday as buses ran out of diesel, officials said as the country’s foreign exchangeContinue Reading
Sri Lanka imposes longest power cuts in 26 years
(AFP)-Sri Lanka on Tuesday announced nationwide seven-and-a-half hour daily power cuts, the longest in more than a quarter of aContinue Reading
EU, UK, Canada, US pledge to remove selected Russian banks from interbank messaging system SWIFT
KEY POINTS The U.S., European allies and Canada agreed to disconnect specific Russian banks from the Society for Worldwide InterbankContinue Reading
Analysis-Shocks and missteps: how Sri Lanka’s economy ended in crisis
COLOMBO (Reuters) – In late November 2019, after winning Sri Lanka’s presidential election and months ahead of a parliamentary ballotContinue Reading
Sri Lanka shares slump amid nationwide powercuts, worsening economic crisis
Feb 23 (Reuters) – Sri Lankan shares plunged nearly 7% on Wednesday as fuel shortage-induced countrywide power outages spooked investorsContinue Reading
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