Author: Buzzer Editor

Education Minister Susil Premajayantha is scheduled to leave for Russia to discuss fuel availability.Accordingly, the Minister has left for France this morning (28) and is scheduled to leave for Russia after that.Minister of Power and Energy Kanchana Wijesekera and Minister of Environment Nasir Ahmed also left for Qatar this morning.

The proposal made by the Minister of Transport to revise the railway fares, has been approved by the Cabinet.It is said that this approval has been obtained at the Cabinet meeting held yesterday (27).

The Cabinet has decided to issue fuel to only essential services from midnight today (27) to 10th July, Government spokesman Minister Bandula Gunawardane said.City schools will be closed until 10th July.

Fitch Ratings has downgraded the rating of Sri Lanka’s Bank of Ceylon’s foreign currency rating to ‘Restricted Default’ from ‘CC’.The downgrade comes after the rating agency earlier downgraded the sovereign rating to RD after the country defaulted on most of its external debt.“Fitch Ratings has been made aware of missed payments on BOC’s foreign-currency obligations which underpins our rating action. We believe the foreign-currency funding and liquidity profile is highly stretched, and also believe this is exacerbated by the sovereign’s debilitated credit profile,” it said in a statement.Full statement:Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long- and Short-Term Foreign…

Russia has defaulted on its overseas debt for the first time in more than a century after missing a Sunday deadline, reports suggest.Russia has the money to make a $100m payment and is willing to pay, but sanctions made it impossible to get the payments to international creditors.The Kremlin had been determined to avoid the default, which is a major blow to the nation’s prestige.The Russian finance minister branded the situation “a farce”.The $100m interest payment was due on 27 May. Russia says the money was sent to Euroclear, a bank which would then distribute the payment to investors.But that…

Janaka Ratnayake, Chairman of the Public Utilities Commission states that if there are private or government institutions that earn more than 60% of their income in foreign exchange, those companies will be required to pay their monthly electricity bills in dollars.Accordingly, the CEB could earn a portion of the required dollars, he said.He further stated that US $ 650 million is required for the importation of coal after September and it is possible that this money could be used for that as well as the import activities required by the CEB

The Ceylon Petroleum Corporation (CEYPETCO) and Lanka IOC have increased the price of fuel with effect from 4.00 am today (26).Petrol 92 – new price Rs.470 (Increased by Rs.50)95 petrol – new price Rs. 550 ( Increased by Rs. 100)Auto Diesel – New Price Rs. 460 ( Increased by Rs. 60) Super Diesel – New Price Rs. 520 ( Increased by Rs. 75)

The largest known bacterium a vermicelli-shaped organism that was discovered in shallow mangrove swamps in the Caribbean and is big enough to be seen with the naked eye, is redefining what is possible for bacteria, Earth’s most ancient life form.Scientists said on Thursday the bacterium, called Thiomargarita magnifica, is noteworthy not merely for its size – colossal for a single-celled organism at up to about eight-tenths of an inch (2 cm) long – but also because its internal architecture is unlike other bacteria.The DNA, an organism’s blueprint, is not free-floating inside the cell like in most bacteria but contained within…

The Energy minister informed that CPC has informed him that the suppliers that had confirmed Petrol, Diesel and CrudeOil Shipments to arrive earlier this week and next week has communicated the inability to fulfill the deliveries on time for banking and logistic reasons.Until the next shipments are at Port and unloaded, Public Transport, Power Generation and Industries will be given a priority. Limited stocks of Diesel and Petrol will be distributed to limited stations throughout next week and request the public not to line up for fuel.At the moment CPC is not able to confirm the arrival dates of the…

Trade Minister Nalin Fernando says that the government has given permission to import 10 essential food items through open accounts.Accordingly, permission has been granted to import 10 essential food items including rice, sugar, wheat flour and dhal from July 01.