Tea factory owners fear total closure owing to the worsening fuel crisis and other shocks putting much needed foreign exchange earnings at risk amidst lowering of tea production after 23 years.
India has surpassed China to become the top lender to Sri Lanka, as the former came to the rescue when Sri Lanka started experiencing some acute shortage of foreign currency from the beginning of the year which reached a breaking point in March causing a complete collapse of the country’s economy.
Details of a disinformation campaign to discredit the government by making allegations of asking a bribe from a Japanese company engaged in the construction work of the Bandaranaike International Airport (BIA) expansion project have been exposed.
The Reserve Bank of India on 11 July, asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency, reported PTI.
