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Sri Lanka faces hyperinflation with inflation rising over 50%
Sri Lanka is now facing a hyperinflationary situation with the country’s inflation hitting a new high of 54.6 per cent in June, several leading economists said referring to the Central Bank’s latest announcement of the official economic indicator data.
Apparel industry urges all parties to ‘Make S L First a national priority’
The Joint Apparel Association Forum urged all Party Leaders to urgently expedite the recommendations put forth at the meeting held a short while ago, calling for the resignation of the President and Prime Minister and making way for an all Party Government with elections to be held as early as possible.
MRI launches ‘Booster’ to mitigate nutrition deficiency SL toddlers
Medical Research Institute (MRI) has developed a rice and pulse-based formula, branded as Booster which is to be launched soon
US, EU and India express solidarity with SL to achieve political stability
The European Union (EU) and the US urged Sri Lanka’s political fraternity to cooperate, focus and work quickly’ to achieve a peaceful, democratic and orderly transition amid the island nation’s worst economic and political crisis in decades while India expressed solidarity towards this end.
Government to restructure CPC to avert possible collapse
Debt-ridden Ceylon Petroleum Corporation (CPC) is to be restructured as the entity is faced with severe cash flow problems with no rupees or dollars to continue its operations, top senior officials disclosed.