Keheliya and his family indicted on over 40 charges

Sri Lanka now on par with Ghana on credit rating

Sri Lanka is now on par with Ghana on credit ratings after the Moody?s Investors Service downgraded Ghana deeper into junk territory. Ghana has been downgraded by Moody?s Investors Service on the likelihood that private creditors will incur steep losses during the Government?s planned debt restructuring. The country?s credit rating was slashed by two levels to Ca, the second-lowest score at Moody?s, according to a Tuesday statement. That puts Ghana on par with Sri Lanka, which is in default.

01 Dec, 2022

Sri Lanka to file case against Airbus and seek compensation

Sri Lanka is to file a case against European planemaker Airbus and seek compensation over a corrupt deal. Minister of Ports, Shipping and Aviation, Nimal Siripala de Silva, told Parliament today that the Government has begun the process to file an arbitration case against Airbus. He said that the services of a UK based legal firm has been obtained to handle the case. The Minister said that Sri Lanka hopes to secure compensation from Airbus through the case. In 2020,?Sri Lanka had ordered a p

05 Dec, 2022

At least 56,000 children in Sri Lanka suffering from malnutrition

At least 56,000 children in Sri Lanka are suffering from severe acute malnutrition, the United Nations (UN) said. According to the latest figures published by the UN World Food Program (WFP), 32 percent of households are now food insecure, and 68 percent of households are turning to food based coping strategies such as eating less preferred food or reducing the number of meals and portion-sizes. The Market Functionality Index, released by WFP, reports that markets are concerned about price vol

21 Nov, 2022