Sri Lanka’s armed forces on July 22 launched a pre-dawn raid at Galle Face park—which had been besieged for months by anti-government protesters in the wake of the country’s economic crisis—drawing outcry from human rights groups. Hundreds of military personnel and police special task force officers stormed the site at about 1 a.m. local time,…
Sri Lankan Forces Deployed to Dismantle Anti-Government Protest Camp Outside Presidential Residence
Sri Lanka’s Prime Minister Refuses to Go, Country’s Crisis Deepens
Fury exploded onto the streets of Sri Lanka’s capital on July 13 following the failure of the country’s leadership to honour an agreement for the president and prime minister to relinquish their positions. The official resignations of President Gotabaya Rajapaksa and Prime Minister Ranil Wickremesinghe occurred, but then were backtracked on. Rajapaksa, his wife, and…
Sri Lanka Has Less Than One Day’s Worth of Fuel Stock: Energy Minister
Sri Lanka was left with less than a day’s worth of gasoline on July 4, disrupting the operations of private bus operators and national airlines. The country now has just 12,774 tons of diesel and 4,061 tons of gasoline reserves, Energy Minister Kanchana Wijesekera told reporters on July 4. The next petrol shipment is due…
America in Crisis
News analysis The good news is that price hikes have pulled back a bit even if real-time aggregates are still running up 10 percent year-over-year. That’s better than it was two months ago, with food, transportation, and household durables rising at slightly slower rates. Utilities and education are up, however, so the bad news is…
71% of Finance Professionals Believe Their Department Is Lagging: Latest Report
June 18, 2022
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By Business Wire Nearly three-quarters (71 percent) of corporate finance professionals do not feel their teams’ platforms and tools are as strong as other departments, according to insights published in a new report from Material, commissioned by Teampay, the all-in-one purchasing platform. 93 percent want to create more efficiencies within the finance department. Released at Teampay’s Agile Finance…
Gordon Chang: US-China ‘Most Dangerous Period in History’; Who Is Trying to Throw China Overboard?
May 3, 2022
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Chinese tech companies may get a temporary breather after Beijing relaxes its clampdown for a while. But not if Beijing wants to get an ownership stake in the companies. What could be the reason? Is China’s economy at too much of a loss? And what about the man-made COVID-19 crisis and the lockdowns? I speak with…
Funerals Held in Lebanon’s Tripoli After Migrant Shipwreck, Dozens Still Missing
TRIPOLI, Lebanon—The families of migrants who died when their vessel capsized Lebanon’s northern coast held funerals in the port city of Tripoli on Monday while rescue efforts continued to find dozens still missing. A dinghy carrying Lebanese, Syrian, and Palestinian migrants sank late on Saturday off the coast near Tripoli when naval forces collided with…
Debt-Ridden Sri Lanka Halts Share Trading for 5 Days Amid Mounting Crisis
Sri Lanka’s Colombo Stock Exchange (CSE) was ordered to close the stock market for five days from April 18 after the government announced its decision to suspend repayment of billions of dollars in foreign debt. The Sri Lanken Securities and Exchange Commission (SEC) said in a statement on April 16 that CSE’s board of directors…
Sri Lankan Doctors Warn Death Toll Potentially ‘Worse’ Than COVID Amid Drugs Shortage
April 11, 2022
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Sri Lanka’s death toll may be worse than that of the COVID-19 pandemic due to the severe drug shortages gripping the country, which is experiencing its worst economic crisis in decades, local doctors warned on April 10. The Sri Lanka Medical Association (SLMA) claimed that doctors now have to choose which patients to treat as…
IMF Meeting Sri Lankan Authorities as Country Attempts to Resolve Economic Crisis
April 5, 2022
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The International Monetary Fund (IMF) will soon be discussing Sri Lanka’s economic issues with the country’s respective ministers and is closely monitoring the island nation’s economic and political situation, the organization stated. “IMF staff is looking forward to program discussions with the authorities, including during the visit of the newly appointed Finance Minister to Washington…
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