Malaysia says it won’t follow Sri Lanka and lease land to China

Joint opposition protesters stage overnight vigil in Colombo

Joint opposition protesters staged an overnight vigil in Colombo near the Lake House roundabout following a protest march against the Government. Hundreds of protesters gathered near?Lake House and joined members of the joint opposition for the vigil. The protesters lit candles and newspapers during the vigil. The organisers of the protest provided meals to the protesters with some estimating meals being provided to 30,000 people. (Colombo Gazette)

05 Sep, 2018

20th Amendment to the Constitution draft tabled

The draft of the 20th Amendment to the Constitution was tabled in Parliament today. The draft was tabled by Janatha Vimukthi Peramuna (JVP) Parliamentarian Vijitha Herath. The 20th Amendment proposes to abolish the Executive Presidency. (Colombo Gazette)

05 Sep, 2018

Moody’s rates Sri Lankan banking system outlook as negative

Moody’s Investors Service says that the outlook for Sri Lanka’s banking system is negative, as the economy remains weak and asset quality is deteriorating. “The economy will only exhibit a modest rebound as the government’s high debt burden and reliance on foreign borrowings continue to limit public investment and pose the risk of capital outflows,” says Tengfu Li, a?Moody’s Analyst. “Credit growth was very high over the last two years, with the credit multiplier (credit growth/GDP growth) pea

05 Sep, 2018