Latest Sri Lanka News
US company signs agreement to enter retail fuel market in crisis-hit Sri Lanka
COLOMBO, Sri Lanka (AP) — A U.S. petroleum company signed an agreement with Sri Lanka on Thursday allowing it to import and sell fuel in the country, less than a month after Chinese petroleum giant Sinopec also acquired rights to enter the retail market, as the Indian Ocean nation grapples with...
Sri Lanka's LGBTQ+ community holds Pride march, demands end to discrimination
COLOMBO, Sri Lanka (AP) — Hundreds of members of Sri Lanka’s LGBTQ+ community paraded through the streets of the capital Colombo on Sunday to mark the Pride month and demand an end to discrimination. The marchers carried rainbow flags and placards calling for a ban of so-called...
IMF says Sri Lanka's economic recovery shows signs of improvement but challenges remain
COLOMBO, Sri Lanka (AP) — Debt-stricken Sri Lanka, which declared bankruptcy last year, is showing signs of economic improvement but its recovery still faces challenges, the International Monetary Fund said Friday. The Indian Ocean island nation declared bankruptcy in April 2022...
Sri Lanka reduces interest rates for 1st time since bankruptcy as economy shows signs of rebounding
COLOMBO, Sri Lanka (AP) — The Central Bank of Sri Lanka reduced its interest rates Thursday for the first time since the island nation declared bankruptcy, after stern fiscal controls, improved foreign currency income and help from an International Monetary Fund program resulted in inflation...
China's Sinopec signs agreement to enter retail fuel market in crisis-hit Sri Lanka
COLOMBO, Sri Lanka (AP) — Chinese petroleum giant Sinopec signed an agreement with Sri Lanka on Monday to enter the South Asian island country's retail fuel market as it struggles to resolve a worsening energy crisis amid an unprecedented economic upheaval. The contract agreement...
IMF: Sri Lanka's crisis-hit economy likely to resume growth in 2024 after contracting 3% this year
COLOMBO, Sri Lanka (AP) — Sri Lanka’s crisis-hit economy is expected to resume growing in 2024 after contracting 3% this year, an International Monetary Fund official said Monday. Krishna Srinivasan, the IMF's director for Asia and Pacific, said expected economic growth of 1.5%...
Prize-winning AP team served as world's eyes in Mariupol
NEW YORK (AP) — Instincts about the strategic significance of the Ukrainian port city of Mariupol led a team of Associated Press journalists there just as Russians were about to lay siege. It proved to be a fateful decision. For nearly three weeks last year, Mstyslav Chernov,...
AP photos from Sri Lanka, Ukraine were Pulitzer finalists
The Associated Press was a finalist in two Pulitzer Prize categories — for breaking news photography of Sri Lanka's political crisis, and for feature photography of the elderly in Ukraine. That was in addition to the two Pulitzers AP was awarded on Monday: one for its coverage of...
Sri Lankan Parliament votes to support IMF recovery program
COLOMBO, Sri Lanka (AP) — Sri Lanka’s Parliament voted Friday to support the implementation of a four-year International Monetary Fund program aimed at solving the country’s economic crisis and reducing its debt burden. The proposal, introduced by President Ranil...
Sri Lanka seeks $17 billion debt reduction by restructuring
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president urged lawmakers Wednesday to approve a four-year International Monetary Fund program to reduce the country's debt by $17 billion through restructuring. Parliament began a three-day debate Wednesday on President Ranil...
