Sri Lanka is currently facing its highest ever crude oil price in the local currency because of a steep depreciation in the rupee, Energy Minister Udaya Gammanpila said, though global prices are below the level when the Fed s housing bubble collapsed in 2008.
Sri Lanka has spent 664 million US dollars in providing reserves for imports in November and December 2021, as the central bank tried to implement a 200 to the US dollar peg while printing money to sterilize the same dollar sales at fixed interest rate of 6.0 percent.
Chairman of Sri Lanka s Board of Investment Sanjaya Mohottala has resigned despite the refusal of President Gotabaya Rajapaksa to accept his resignation.
Singapore News - The first managing director of the Economic Development Board (EDB), Mr Lim Ho Hup, died on Sunday night (Nov 21) at age 92. He is survived by six children and his wife, who took care of him in his last hours. Mr Lim, born in Malaysia in 1929, was appointed the managing. Read more at www.tnp.sg