Russia s invasion on Ukraine could hit Sri Lanka s tea exports, a reviving tourism industry and trigger more external trouble and inflation, if rising oil prices are not raised and energy utility losses are financed with bank credit leading to more monetary expansion, analysts said.
Sri Lanka s central bank has not banned state banks from lending to the Ceylon Petroleum Corporation, but asked them not to give excessive loans, Central Bank Governor Nivard Cabraal said.
Monday 14th February, 2022 Unable to handle trade union disputes democratically, the government has taken a leaf out of the late President J. R. Jayewardene’s draconian rule book. Adopting his jackboot tactics, it has invoked a 1979 law to ban trade union action in the health and power sectors. One should not be so naïve […]
Sri Lanka s Ceylon Electricity Board could lose the ability to provide a stable 50 cycle frequency as two large hydro plants are running dry, which can lead to outages or damage to customer equipment, industry analysts warn.
Sri Lanka could face multi-hour power cuts, blackouts in large parts of the grid and water shortages in Colombo if the current policy of avoiding one hour load shedding at any cost is continued, industry watchers familiar with the ground situation have warned.