Sri Lankan President Ranil Wickremesinghe announced a debt restructuring deal with India, France, Japan, and China, a critical step in economic recovery after the 2022 debt default. Under an IMF bailout program, the agreement is expected to revive stalled foreign projects. Sri Lanka declared bankruptcy in 2022 due to economic mismanagement, COVID-19 impacts, and tax cuts. The deal defers loan payments until 2028 and extends repayment until 2043. Supporters celebrated the announcement in Colombo as it promises to restart crucial infrastructure projects ..read more

Sri Lankan President Ranil Wickremesinghe plans to contest the upcoming Presidential election as an independent candidate. The election date will be announced by the Election Commission soon. Wickremesinghe's government has implemented economic reforms in response to the country's financial crisis ..read more

The eight bidders can now submit proposals to the Sri Lankan government for the acquisition of shares in Litro Gas Lanka Limited and Litro Terminals (Private) Limited, a statement released by Sri Lanka's finance ministry said ..read more

Sri Lanka is set to reduce power prices by 22.5% starting Tuesday to alleviate the financial strain on its population amid a severe economic crisis. The price cuts come after significant increases to meet IMF bailout conditions. The move is expected to benefit industries and low-income users, aiding economic recovery and maintaining inflation targets ..read more

Sri Lanka closed schools on Monday as heavy rain triggered floods and mudslides in many parts of the island nation, leaving at least 10 people dead and six others missing, officials said. The education ministry announced that the reopening of schools would depend on how the weather develops ..read more

As Dubai's scrutiny intensifies on the online gambling empire Mahadev, illegal betting operators are relocating to Sri Lanka. Offshore call centers and offices, crucial for these betting apps, are being established there. Staff running multiple betting websites are now operating discreetly from Sri Lankan villas, drawn by the country's cheaper costs and less rigorous enforcement compared to Dubai ..read more

Adani Group plans to invest over USD 1 billion in setting up projects in Sri Lanka through Adani Green Energy Ltd. The projects include two wind farms in Sri Lanka's Mannar town and Pooneryn village with a total capacity of 484 megawatts ..read more

President Ranil Wickremesinghe confirms the scheduling of the presidential election before the parliamentary election, in line with the Elections Commission's timeline and amid pressure from the ruling SLPP party ..read more

The ruling Sri Lanka People's Front of the Rajapaksas, commonly known by its Sinhalese name Sri Lanka Podujana Peramuna (SLPP), will hold a public rally later in the day in the north central rural town of Thalawa, party member and former minister SM Chandrasena told reporters ..read more

Sri Lanka will hold presidential election between September 17 and October 16, the country's top electoral body announced on Thursday. In a notice signed by its chairman R M A L Ratnayake, the Election Commission said it will call for nominations to hold the Presidential election within the specified timeframe in terms of the provisions of the Constitution, according to local media reports ..read more