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Prime Minister Ranil Wickremesinghe sworn in as Acting President of Sri Lanka
Prime Minister Ranil Wickremesinghe was sworn in as Sri Lanka’s interim President on Friday until Parliament elects a successor to Gotabaya Rajapaksa. Wickremesinghe, 73, took his oath of office before chief justice Jayantha Jayasuriya, Wickremesinghe’s office said in a statement. Sri Lanka’s new president will be elected through Parliament next week, Speaker Mahinda Yapa Abeywardena […]
Sri Lanka President steps down officially
Sri Lanka’s Parliamentary Speaker Mahinda Yapa Abeywardena said President Gotabaya Rajapaksa has officially stepped down from his post. He made the announcement speaking to reporters from his official residence, earlier on Friday. Abeywardena said as per Article 38 (1) of the constitution he received the letter of resignation of President Gotabaya Rajapaksa , on Friday […]
Fitch Ratings: Non-European emerging markets vulnerable to EU growth shock
A recession in Europe, which is becoming more likely, would increase external strains and growth challenges for some vulnerable non-European sovereigns, including several in north Africa and south Asia that have high export exposure to the EU, says Fitch Ratings. We forecast the eurozone economy to expand by 2.6% in 2022 and 2.1% in 2023, […]
CCC urges immediate resignation of President & calls upon all parties to support constitutional process to resolve crisis
The Ceylon Chamber of Commerce notes with dismay that the President has not submitted his letter of resignation to the Speaker on 13th July as promised and urges that this is done without any further delay as requested by leaders of political parties, joint chambers, civil society organizations and the vast number of people who […]
Business as usual at Hambantota Port despite current fuel crisis in Sri Lanka
Operations at the Hambantota International Port (HIP) from port services, marine services, energy hub, Port Industrial Park and Integrated logistics are running uninterrupted, despite the current fuel crisis in the country. As an essential service, HIP has ensured continuous fuel supply to enable the port to function 24/7 with no disruptions in shipping, logistics operations […]
Investors continue to cash in on the Sri Lankan apparel sector’s resilience
Investors are cashing in on the strong prospects of Sri Lanka’s apparel and textile exports sector, the country’s main export industry, which caters to some of the leading fashion brands globally. Although the South Asian island announced that it would default on its foreign debt earlier this year, the country’s exports and Foreign Direct Investment […]
‘s Bank, Commercial Bank &’s National Ratings on Watch Negative
Fitch Ratings has maintained People’s Bank’s National Long-Term Rating of ‘AA-(lka)’ on Rating Watch Negative. The rating agency has also maintained Commercial Bank’s National Long-Term Rating of ‘AA-(lka)’ on Rating Watch Negative and maintained the ‘A(lka)’ ratings on its subordinated debt on Rating Watch Negative. Meanwhile, Fitch Ratings has maintained Hatton National Bank’s National Long-Term […]
President’s messages only through Speaker: Presidential Secretariat
All messages issued by President Gotabaya Rajapaksa will be released by the Speaker after the information is given to him by the President, the Presidential Secretariat said in a statement. “Therefore, kindly request that only the announcements issued by the Speaker be considered as official announcements issued by the President,” the statement further said.
CBEOU requests all political parties to ensure that there is no anarchy in Sri Lanka
Central Bank Executive Officers’ Union (CBEOU) expressed its fullest support to the people’s movement against the futile regime, which should be directly responsible for destroying the Sri Lankan economy, and as promised, we emphasize that the failed President and Prime Minister must bow down to the people’s verdict and vacate their offices. Releasing a statement, […]
Statement from CA Sri Lanka on ongoing political crisis
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), in its standing as the National Body of Accountants, welcomes the announcement of President Gotabaya Rajapaksa to step down on July 13th, which was conveyed to the people by the Speaker of Parliament Honourable Mahinda Yapa Abeywardena, on the eve of July 09th CA […]