Page 15 - Economic Crisis

Crisis-hit Sri Lanka offers fuel quotas to firms which can pay in dollars

Plans to allow foreign firms to distribute fuel & let marine bunker operators sell diesel

Sri Lanka to get two ships of fuel in July, one in August: Lanka IOC

A total of 11,000 MT of Diesel, 5,000 MT of Petrol, 30,000 MT of Furnace Oil, and 800 MT of Jet Fuel are currently available in the country

Sri Lankan crisis: President Gotabaya to visit UAE to procure fuel

The Sri Lankan government says it has formulated a comprehensive mechanism to ensure continuous fuel supply after July 10

Lanka IOC provides fuel as government pumps go dry in island nation

A LIOC spokesperson said they issued petrol to private vehicle owners on Tuesday but had to limit the issues due to the demand

Sri Lanka: Postal services limited to three days-a week amid fuel crisis

The services by the main and sub-offices will be available on Tuesday, Wednesday, and Thursday, Daily Mirror Online reported

Crisis-hit Sri Lanka's economy shrinks 1.6% in the March quarter

The contraction likely marks the beginning of a painful and long recession for the country

Sri Lankan cabinet permits companies to import fuel as crisis worsens

The country ran out of fuel as only 1,100 tonnes of petrol and 7,500 tonnes of diesel are left, which are not sufficient to last for a day.

Lanka raises fuel prices by 15%; to enlist foreign firms to ease shortages

The announcement came a day after Energy Minister Kan­chana Wijesekera said there would be an indefinite delay in getting new shipments of oil

Sri Lanka introduces fuel rationing for pvt vehicles amid severe shortage

The public was requested to register their mobile numbers at their nearest filling stations and once their numbers were issued, they would be notified

Crisis struck-Sri Lanka hikes fuel prices as filling stations go dry

Sri Lanka has hiked petrol price by LKR 50 and diesel by LKR 60 respectively, the third price revision in over two months, as the country continues to reel under the worst economic crisis in decades

Top US delegation to visit Sri Lanka to help island nation avert crisis

In an effort to help avert the ongoing economic crisis in Sri Lanka, a top delegation from the US comprising officials from the Departments of State and Treasury will embark on a three-day visit

Sri Lanka limits forex possession by citizens to support dwindling reserves

Sri Lanka is facing a severe forex crisis which forced the island nation to declare a default of its international debt, becoming the first Asia-Pacific country in decades to default on foreign debt

Pakistan govt slaps 10% super tax on big industries to trim deficit

Tough decisions needed to save economy: Pak PM

How the economic crisis in Sri Lanka is affecting Indian businesses?

Sri Lanka's economy is in a free fall. But some spillover of the Lanka crisis is hurting Indian businesses too, like the auto sector. We try to gauge the overall effect of the crisis on India

Sri Lanka sued by US bondholder after island nation's historic default

Sri Lanka, an island nation off the southern tip of India, fell into default in May after the expiry of a 30-day grace period for missed interest payments on two of its sovereign bonds

Top Headlines: TDS levy on cryptos, GST rate of 200 items, and more

From TDS levy on cryptocurrencies to GST rate of over 200 items staying the same, here are the top headlines on Thursday morning

Indian orthodox tea gets a boost as crisis impacts Sri Lankan trade

India - which has just stepped into the quality period for orthodox - is reaping the benefits of the anticipated shortfall

Indian delegation led by CEA Nageswaran to visit Sri Lanka on Thursday

The visit is consequent to the meetings held by Sri Lankan envoy in New Delhi Milinda Moragoda with External Affairs Minister S Jaishankar and FM Nirmala Sitharaman on June 20, the report said.

Sri Lanka PM says debt-laden economy 'has collapsed,' unable to buy oil

Sri Lanka's prime minister says its debt-laden economy has collapsed after months of shortages of food, fuel and electricity

Sri Lanka's economic crisis cripples once burgeoning middle class

An island nation of 22 million, Sri Lanka is hurtling towards bankruptcy after amassing $51 billion in foreign debt