The scramble for the humble product highlights rising economic risks for the South Asian country as imports slump, foreign exchange reserves plummet and a potential sovereign default looms
In January, India announced a USD 900 million loan to Sri Lanka to build up its depleted foreign reserves and for food imports, amid a shortage of almost all essential commodities in the country.
It was recently reported by media that the T20s against the Lankan side will take place before Test matches in Mohali and Bengaluru and the cricket body has now confirmed it
In a letter to PM Modi, he said the incident has come as a rude shock to the people of the state.
Sri Lankan Foreign Minister G.L. Peiris is slated embark on a three-day visit to India during which he will meet External Affairs Minister S. Jaishankar and Foreign Secretary Harsh Vardhan Shringla.
Fifty-six Indian fishermen were released by Sri Lanka on January 25, the government said on Thursday, insisting that both sides should ensure that there was no use of force against the community
Export-Import Bank of India (Exim Bank) Thursday said it has extended a line of credit of $500 mn to Sri Lanka for financing the purchase of petroleum products.
Sri Lanka is struggling with its worst financial crisis in years with reserves hitting $3.1 billion in December. The country has to repay about $4 billion in debt repayments this year.
Senior Sri Lanka pacer Suranga Lakmal will retire from all formats of cricket after the tour of India which begins later this month. The 34-year-old Lakmal, a former Test captain, has played 68 Tests, 86 ODIs and 11 T20s. "Former Sri Lanka Test Captain Suranga Lakmal has informed Sri Lanka Cricket that he will retire from all forms of International Cricket following the completion of the upcoming Sri Lanka Tour of India 2022," Sri Lanka Cricket said in a statement. Lakmal thanked SLC for for its support. "I'm indebted to SLC for giving me this astonishing opportunity and having faith in me to bring back my mother land honour as it has been absolute pleasure to be associated with the board that shaped my professional life and also enriched my personal development, said Lakmal in his retirement letter submitted to SLC. I have nothing but the utmost respect for all my players, coaches, team managers, support staff, administrative staff and all other supportive staff,'' he said. Sri
President Gotabaya Rajapaksa's administration announced a $1-billion relief package this month
Legendary pacer Lasith Malinga has been appointed as a specialist bowling coach for Sri Lanka's senior men's national team's upcoming tour of Australia, country's cricket board announced on Wednesday. "Malinga, in his new short-term role as a specialist coach, will support Sri Lanka's bowlers, providing tactical insight and technical expertise to help the on-field execution of strategic plans," Sri Lanka Cricket (SLC) said in a release. "SLC is confident that Malinga's vast experience and renowned death-bowling expertise, especially in the T20 format, will help the team immensely going into this series." Sri Lanka are scheduled to play five T20 Internationals in Australia starting from February 11. The former player, one of the island nation's greatest fast bowlers, has worked as a mentor for Mumbai Indians in the Indian Premier League in 2018. The 38-year-old Malinga was appointed by the executive committee of SLC in consultation with the technical advisory committee of the Lanka
With focus on new areas such as waste-water technologies, biotech, sustainable agriculture, India and Sri Lanka extended the existing science and technology cooperation for three more years.
India and Sri Lanka have extended their science and technology cooperation for three more years, with focus on areas like waste-water technologies, sustainable agriculture, aerospace engineering, big data analytics, and artificial intelligence. In a statement, the science and technology ministry said the decision to extend the cooperation was taken at the India-Sri Lanka 5th Joint Committee on S&T Cooperation' held on Thursday. India and Sri Lanka have a great legacy of intellectual, cultural, and religious interaction and relationship of more than 2,500 years old, Advisor, and Head, International Cooperation, Department of Science and Technology (DST) SK Varshney said. Trade and investment and cooperation in education and other sectors have gone up in recent times, and in this line, cooperation in S&T (science and technology) becomes very critical, said Varshney, who led the delegation from India and was the Indian co-chair. This platform will provide an opportunity for ...
The Indian ocean island nation is in its worst crisis in decades, with people facing shortages of essentials like milk powder, cooking gas and kerosene.
The rate increase will also help ease pressures on the external sector as the island nation battles a massive debt repayment crisis
"If we fail to control our spending, there will be a foreign exchange problem in the near future," Rajapaksa said
The credit line, which was under negotiation since August 2021, will ease pressure on the country's dwindling reserves that dipped to $3.1 bn at the end of December.
Sri Lanka has piled up $11.8 billion worth of debt through sovereign bonds (ISB) which makes up the largest part - or 36.4% - of its external debt
Power Minister Gamini Lokuge said that the talks with the Indian Oil Corporation's local entity would be held for a solution to the fuel crisis
Sri Lanka has urged more Indian investments in ports, infrastructure, energy, power and manufacturing sectors, days after New Delhi announced a USD 900 million loan to Colombo