Lawsuits from sellers of Amazon and Flipkart can potentially delay the investigation process
Cash-strapped Sri Lanka's economy recorded falling consumer prices for the first time in 39 years, official data showed Monday, with the September inflation figure dipping to negative 0.5 percent.
Census and Statistics Department data showed price drops in both food and non-food goods contributing to deflation in September, compared to inflation of 0.5 percent in August.
Sri Lanka last recorded deflation in October 1985 with a figure of negative 2.1 percent.
Inflation peaked at 69.8 percent two years ago at the height of an unprecedented economic crisis in the island nation.
Acute shortages of food, fuel and medicines led to months of protests that eventually forced then-president Gotabaya Rajapaksa to temporarily flee the country and resign in July 2022.
His successor Ranil Wickremesinghe secured a $2.9 billion International Monetary Fund bailout and raised taxes and prices to stabilise the economy.
Wickremesinghe lost office after a presidential election earlier this month.
The winner of that contest, President Anura Kumara Dissanayake, has vowed to maintain the IMF programme but relax some of the austerity measures it imposed.
Lawsuits from sellers of Amazon and Flipkart can potentially delay the investigation process
Thailand and Pakistan are the other major rice exporters to the UAE, which is the world’s largest re-exporter of rice
Hotel occupancy rates in the emirate held steady at 66 per cent
Platform aims to unlock demand in key global through CommerCity MoU
Parent-friendly Label programme gets support from public and private sectors
Survey shows growing appetite for the adoption of AI solutions to strengthen the local creator economy
Regulator launches clear guidance for virtual asset service providers
Hospitality sector market report shows occupancy and ADR highest in six years