BUSINESS

Global ratings agency S&P Global on Monday slashed its rating on Sri Lankan bonds to 'D', representing default, following missed interest and principal payments

Claiming that they have never made unreasonable increases in confectionery items such as biscuits,

The Sri Lankan poultry industry expects a 20% drop in production this year as high feed costs hit farms.

Japanese engineering group Taisei will enter negotiations on a possible stoppage of an airport expansion in Sri Lanka after funding for the project was cut off, another sign of the country’s deepening economic crisis.

Even as China’s spy ship ‘Yuan Wang 5’ is back on course towards the Hambantota Port of Sri Lanka, India is set to gift the island nation a Dornier 228 maritime patrol aircraft soon, subtly reasserting its role as the net security provider to the Indian Ocean region.