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India has started trading 40,000 tonnes of rice for prompt shipment to Sri Lanka in the first major food aid since Colombo secured a credit line from New Delhi

Sri Lanka Declares Emergency After Violent Protests Over Economic Crisis

In a Sri Lankan government gazette notification, Rajapaksa said the decision was taken in the interests of public security, the protection of public order, and to ensure the maintenance of supplies and essential services

The Economic Crisis In Sri Lanka Deepens

The island nation of 22 million people is struggling with rolling power cuts for up to 13 hours a day as the government is unable to make payments for fuel imports because of a lack of foreign exchange

Sri Lanka Plunges Into 10-hour Daily Power Cut As Fuel Crisis Worsens

The Sri Lankan government on Wednesday imposed a nationwide 10-hour daily power cut due to shortage of hydro-electricity triggered by non-availability of fuel

Jaishankar Arrives In Lanka To Hold Bilateral Talks, Attend BIMSTEC Summit

New Delhi had extended a USD 500 million line of credit to Colombo in February to help it purchase petroleum products

Colombo Port City To Be A Regional Services Hub of South Asia: Saliya Wickramasuriya

Sri Lanka is embarking on the mega projects which aim to position the island nation as a regional services hub of South Asia. While Sri Lanka is facing the acute economic crisis, it continues to expand its national projects like the Colombo Port City development project. Sri Lanka is striving to build upon the robust maritime trade and scale up port infrastructure that will unfold immense potential across the oceans. Saliya Wickramasuriya, Member and Official Spokesperson, Port City Economic Commission, Government of Sri Lanka speaks with BW Businessworld on the scale of the development and the potential it offers for the Indian investors

Sri Lankan Economic Crisis: Finance Minister Basil Rajapaksa Calls On PM Modi

Finance Minister Rajapaksa noted the deepening of people-to-people relations between both countries, including in the cultural sphere, according to the PMO

Have No Surprises For Each Other In Our Relationship; Will Sail Smoothly On Waves Of Indian Ocean: Sri Lankan Envoy Milinda Moragoda

Manish Kumar Jha

In an Exclusive interaction, Sri Lankan High Commissioner Milinda Moragoda speaks with BW Businessworld’s Manish Kumar Jha on a diverse set of issues ranging from trade, investment, energy to defence and security. He recently proposed developing the thrust areas to scale up the strategic relations in his unique effort which is enshrined in the ‘Integrated Country Strategy’. He talks about the restructuring and tightening debt- measures for economic recovery. His previous role as the Minister of Economic Reform in the Sri Lankan government places him crucially on the right spot to bring back the economy on its maritime strength and its relations with India. He dwells on strategic pacts like Colombo Dialogue, SAGAR and maritime security in the IOR.

India Grants Over $900 Mn To Sri Lanka To Overcome Forex Crisis

On Wednesday, the governor of the Central Bank Ajith Nivard Cabraal said that the island nation is negotiating a USD one billion loan from India to import goods from the country.

India Will Support Sri Lanka In These Difficult Times: Jaishankar

Companies & Markets

On the query on extending the credit line by India, Bagchi referred to the visit to New Delhi by Sri Lankan Finance Minister Basil Rajapaksa last month.

China Suspends Energy Project In Sri Lanka Over Security Concerns

Energy & Infra Renewable Energy

China has instead inked a contract with Maldives to establish 12 solar power plants at 12 Maldivian islands, it said.

Global Food Security Index 2021: India At 71st Position, Behind Pakistan And Sri Lanka

Ireland, Australia, the UK, Finland, Switzerland, the Netherlands, Canada, Japan, France and the US shared the top rank with the overall GFS score in the range of 77.8 and 80 points on the index.

LIOC Urges Government To Hike Fuel Prices