Sri Lanka, an Indian Ocean island of 22 million people, is recovering from a massive financial crisis. (Photo: Bloomberg) McDonald’s has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, an attorney for the U.S. company said on Sunday. “The parent company… Continue reading McDonald’s closes stores in Sri Lanka after deal with partner ended: Lawyer | World News
Tag: Lanka
India hands over Rs 45 cr to Sri Lanka to fund digital identity project
India has handed over INR 450 million in advance to Sri Lanka to fund its unique digital identity project, the most crucial step in the island nation’s digitalisation programme being implemented through the Indian grant assistance. Sri Lankan President Ranil Wickremesinghe’s office here said that the fund from the government of India was… Continue reading India hands over Rs 45 cr to Sri Lanka to fund digital identity project
Indian Rupee not legal tender for domestic payments: S Lanka Central Bank
Sri Lanka’s Central Bank said on Wednesday that no domestic transactions would be allowed with the Indian Rupee in the island country, as it warned people not to be misled by inaccurate information surrounding the issue. The apex bank said that even though the Indian Rupee (INR) has been endorsed as a designated… Continue reading Indian Rupee not legal tender for domestic payments: S Lanka Central Bank
Sri Lanka records single-digit inflation for 1st time since economic crisis
Sri Lanka Flag (Photo: Wikipedia) Cash-strapped Sri Lanka on Monday said that its inflation has dropped to 6.3 per cent, a single-digit figure for the first time in two years, providing much-needed relief to the people amidst the worst financial crisis. In a statement, the Census and Statistics Office of the Sri Lankan… Continue reading Sri Lanka records single-digit inflation for 1st time since economic crisis
Macron becomes 1st French president to visit Sri Lanka, pledges assistance
In a ‘historic’ visit, French President Emmanuel Macron visited Sri Lanka on Saturday, had discussions with his counterpart, Ranil Wickremesinghe and also pledged assistance and support in the debt restructuring process. Notably, this was the first-ever visit by a French President to the island nation. During the visit, Wickremesinghe and Macron held… Continue reading Macron becomes 1st French president to visit Sri Lanka, pledges assistance