Category: Economy

Shedding some light on the Yugadanavi deal

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Shedding some light on the Yugadanavi deal The good, the bad, and the ugly of the agreement between the Government and the US BY Sumudu Chamara (The Morning 11/11/2021) Sri Lanka is going through one of its toughest times in recent memory, and the ongoing pandemic has worsened the economic hardships that the country was dealing with before the pandemic. While the people are clearly sacrificing their comfort to face this difficult time, the Government is also seeking new ways to save and make money. According to the Government, the…

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Harsha faults Govt. for maligning Moody’s;warnings

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Harsha faults Govt. for maligning Moody’s;warnings Harsha faults Govt. for maligning Moody’s; warnings hardships piling on people Main Opposition Samagi Jana Balawegaya (SJB) Parliamentarian Dr. Harsha de Silva over the weekend faulted the Government for maligning an independent and world reputed institution such as Moody’s whilst warning hardships are piling on people due to the current regime’s sheer mismanagement of the economy.  “Government is on a foolish stance that what it says is right and what others such as Moody’s are all lies,” the SJB MP said in reference to…

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Teachers, principals vow to continue TU action

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Teachers, principals vow to continue TU action Even though the Teachers’ and Principals’ Trade Union Alliance has temporarily withdrawn from trade union action, trade unions yesterday (25) staged islandwide protests from 2:00 p.m. after school hours. Ceylon Teachers Union (CTU) General Secretary Joseph Stalin said they will stage protests, awareness campaigns, etc., on 25, 26 and 27 October at 300 different locations islandwide.  Meanwhile, protesters who attempted to get into the North Western Province Governor’s Office and meet Governor Raja Collure were turned away. “We want to show our objections…

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Primary Grades resume classes today

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Primary Grades resume classes today Primary sections of Government and Government-approved private schools will commence academic activities today (25). As part of the first phase, primary section of schools with fewer than 200 students began on 21 October. Under the second phase, health recommendations have been obtained to begin primary sections in schools with more than 200 children. As a result, the Ministry of Education is collaborating with Provincial Governors, Provincial Principal Secretaries, Provincial Secretaries of Education, Provincial Directors of Education, Zonal Directors of Education, Principals, and other education authorities…

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Sri Lanka expects US$1 billion FDI in this year

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Sri Lanka expects US$1 billion FDI in this year despite pandemic: BoI Chief ECONOMYNEXT – Sri Lanka will receive around 1 billion US dollars of foreign direct investment in 2021 despite the Covid-19 pandemic and other disruptions, Board of Investment (BOI) chairman Sanajaya Mohottala said. Foreign Direct Investment has been on a falling trend since its record high of 1.8 billion US dollars in 2018 thanks to the sale of Hambantota port to a Chinese firm. FDI in 2019 fell to 793 million US dollars and last year it recorded…

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Flight from Sri Lanka to flag-off Kushinagar airport in India

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ECONOMYNEXT – A flight from Sri Lanka’s capital Colombo carrying politicians and monks will be the first to land at Kushinagar International Airport in India, which will be inaugurated by Prime Minister Narenda Modi. Kushinagar is the city where Buddhist believe Lord Buddha passed away known as Mahaparinirvana. The majority of citizens of Sri Lanka, which has an Indianized civilization, are Buddhists. “Kushinagar is considered to be a focal point of the Buddhist Circuit in India and the new international airport is likely to strengthen people to people interactions between…

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