Soldiers stood behind wrought-iron barricades and next to burned-out buses in the heart of Sri Lanka’s capital, Colombo, on Wednesday, guarding nearly deserted streets following a flurry of fatal battles. Troops halted the occasional car as it drove by long rows of closed stores, casting watchful glances over its passengers as they enforced a statewide … Read more
Sri Lanka’s stock market halted buying and selling after an almost 13% plunge Monday as the island kingdom’s beleaguered government faces new strain to renounce from influential Buddhist leaders over a crippling financial disaster. The USA’s worst downturn when you consider that independence in 1948 has delivered considerable hardships to its 22 million people, with … Read more
Anger is raging in Sri Lanka over the country’s biggest economic crisis since its independence in 1948, with much of it directed at the island’s all-powerful Rajapaksa family. Hundreds of protesters attempted to attack the residence of Gotabaya Rajapaksa, the incumbent president and one of four politically engaged brothers, late Thursday. During a night of … Read more
COLOMBO: Sri Lanka’s economy shrank in the third quarter as a foreign exchange crisis wrecked its recovery from the coronavirus pandemic, official data showed on Thursday. The GDP contracted 1.5 per cent on-year in the three months to September, the department of census and statistics said, ending four consecutive quarters of growth. The island’s tourism-dependent economy … Read more
