Skip to content
Search

Latest Stories

Sri Lankan PM Rajapaksa May Resign Amid Fears Of Govt Shutdown

Amid fears of government shutdown, Sri Lankan prime minister Mahinda Rajapaksa is likely to resign from his post, according to a tweet by his son Namal Rajapaksa on Friday (14). The new move of Rajapaksa is expected to compel president Maithripala Sirisena to appoint a new prime minister to stop a possible government shutdown on January 1.

“To ensure stability of the nation, Former President @PresRajapaksa has decided to resign from the Premiership tomorrow after an address to the nation. The SLPP with Frm President, SLFP & others will now work to form a broader political coalition with President Sirisena,” said Namal Rajapaksa, member of parliament and son of Rajapaksa in a tweet.


The island nation has been under a political turmoil for more than a month after Sirisena removed former prime minister Ranil Wickremesinghe from his post to appoint Rajapaksa as new prime minister of the country.

The appointment of Rajapaksa as the prime minister was opposed by majority of MPs as the appointment is against Sri Lanka’s constitution. Rajapaksa who was then sacked by the parliament twice but was reluctant to resign.

Sirisena rejected the parliamentary votes, saying that due procedure wasn’t followed.

Still it is not clear how Sri Lanka plans to end the political impasse that threatens to shutdown the government on January 1 as temporary budget should be approved by the parliament before the new year.

Meanwhile, Sri Lanka’s top court on Friday (14) dismissed Rajapaksa’s attempt for an injunction on a local court order which stopped him and his cabinet from performing their roles in the government.

Earlier this week, Sri Lankan parliament passed a vote of confidence in favour of ousted Wickremesinghe, as it sought his reinstatement as prime minister by the president to end the political turmoil.

However, Sri Lankan president repeatedly said that he won’t appoint Wickremesinghe as prime minister.

More For You

UK houses

UK house price growth slows to 0.3 per cent in October.

iStock

UK house price growth slows as buyers delay decisions ahead of budget

Highlights

  • Average UK house price rose 0.3 per cent in October to £272,226, down from 0.5 per cent growth in September.
  • Annual house price growth edged up to 2.4 per cent, with market remaining resilient despite mortgage rates being double pre-pandemic levels.
  • Buyers delaying purchases amid speculation that November budget could introduce new property taxes on homes worth over £500,000.
British house prices grew at a slower pace in October as buyers adopted a wait-and-see approach ahead of the government's budget announcement on 26 November, according to data from mortgage lender Nationwide.

The average house price increased by 0.3 per cent month-on-month in October to £272,226, down from a 0.5 per cent rise in September. Despite the monthly slowdown, annual house price growth accelerated slightly to 2.4 per cent, up from 2.2 per cent in the previous month.

Robert Gardner, Nationwide's chief economist, said the market had demonstrated broad stability in recent months. "Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double the level they were before Covid struck and house prices are close to all-time highs".

Keep ReadingShow less