Sri Lanka Crisis

In the wake of vessel re-routings aimed at avoiding the Red Sea, bunker demand across ports in both India and Sri Lanka has witnessed a massive surge, highlighting a growing challenge for the maritime industry.

Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.

The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.

Sri Lankan President Ranil Wickremesinghe on Monday presented his government's 2024 budget, emphasising the need for tough reforms until the full recovery of the cash-strapped island nation's economy.

According to sources, Sri Lanka was delaying granting permission for the arrival of the vessel due to concerns raised by India. However, there is no official confirmation of the same.

Bankrupt Sri Lanka's economic recovery was "not yet assured", the International Monetary Fund warned Wednesday, after the first review of its $2.9 billion bailout aimed at restoring the island's finances.

Sri Lanka's police force said Friday it had sacked an officer who entertained protesters with an impromptu piano performance after they entered the island nation's presidential compound last year.

Cash-strapped Sri Lanka on Monday said that its inflation has dropped to 6.3 per cent, a single-digit figure for the first time in two years, providing much-needed relief to the people amidst the worst financial crisis.

India has reiterated its willingness to play "a constructive role" in supporting Sri Lanka's efforts for recovery from the worst economic crisis.

Sri Lanka's Parliament Speaker Mahinda Yapa Abeywardena on Friday thanked India for the financial assistance it extended to the island nation when it reeled under an unprecedented economic crisis last year.

The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.

Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.

Heart-wrenching images of revered elephants and cattle eating plastic in Sri Lanka have prompted politicians to toughen pollution laws, but sceptical conservationists warn past bans were repeatedly ignored.

Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government's domestic debt amounting to more than $51 billion.

Troubles continued to mount for an embattled Pakistan today, with official data revealing a rise in its annual inflation to a record 37.97 per cent in May. Pakistan's figure is the highest in South Asia, ahead of Sri Lanka

In the wake of vessel re-routings aimed at avoiding the Red Sea, bunker demand across ports in both India and Sri Lanka has witnessed a massive surge, highlighting a growing challenge for the maritime industry.

Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its $251 million oil debts, with Colombo saying Tehran's visiting foreign minister had expressed "satisfaction" at the deal.

The International Monetary Fund revived its $2.9 billion bailout for Sri Lanka on Tuesday after the South Asian nation clinched a debt restructuring deal with China, its biggest official lender.

Sri Lankan President Ranil Wickremesinghe on Monday presented his government's 2024 budget, emphasising the need for tough reforms until the full recovery of the cash-strapped island nation's economy.

According to sources, Sri Lanka was delaying granting permission for the arrival of the vessel due to concerns raised by India. However, there is no official confirmation of the same.

Bankrupt Sri Lanka's economic recovery was "not yet assured", the International Monetary Fund warned Wednesday, after the first review of its $2.9 billion bailout aimed at restoring the island's finances.

Sri Lanka's police force said Friday it had sacked an officer who entertained protesters with an impromptu piano performance after they entered the island nation's presidential compound last year.

Cash-strapped Sri Lanka on Monday said that its inflation has dropped to 6.3 per cent, a single-digit figure for the first time in two years, providing much-needed relief to the people amidst the worst financial crisis.

India has reiterated its willingness to play "a constructive role" in supporting Sri Lanka's efforts for recovery from the worst economic crisis.

Sri Lanka's Parliament Speaker Mahinda Yapa Abeywardena on Friday thanked India for the financial assistance it extended to the island nation when it reeled under an unprecedented economic crisis last year.

The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.

Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.

Heart-wrenching images of revered elephants and cattle eating plastic in Sri Lanka have prompted politicians to toughen pollution laws, but sceptical conservationists warn past bans were repeatedly ignored.

Sri Lankan authorities have declared a five-day closure of financial markets from Thursday ahead of a controversial move to restructure the government's domestic debt amounting to more than $51 billion.

Troubles continued to mount for an embattled Pakistan today, with official data revealing a rise in its annual inflation to a record 37.97 per cent in May. Pakistan's figure is the highest in South Asia, ahead of Sri Lanka