The Latest Breaking News from Basil Rajapaksa

Basil Rajapaksa, the younger brother of Sri Lanka’s president and the country’s former finance minister, has resigned from Parliament amid mounting criticism of his alleged role in dragging the island nation into its worst economic crisis in memory

The brother of Sri Lanka's president and the country's former finance minister Basil Rajapaksa said on Thursday that he had resigned from parliament, the second from the influential family to step away from government amid a severe economic crisis.

It was the moment when two brothers who had dominated Sri Lanka's politics for nearly 20 years finally went their separate ways.

At the height of their power, four brothers from Sri Lanka’s Rajapaksa dynasty held the presidency and the prime minister’s office as well as the finance, interior and defence portfolios, among others. But just when the Rajapaksa clan seemed invincible, an economic crisis of their own making led to their…

The administration focused on consolidating power in government, ignoring the financial and political crises.

At an auspicious time early on Thursday, Dilani Jayaratne lit a small wood fire to boil a small pot of milk to mark the start of Sri Lanka's New Year.

Protesters angry over a worsening economic crisis take aim at Sri Lanka’s all-powerful Rajapaksa family.

Colombo (AFP) - Cash-strapped Sri Lanka's central bank hiked interest rates by a record 700 basis points Friday as police fired tear gas at hundreds of students protesting over the economic crisis.

Sri Lankan business leaders are calling for an end to the country’s political instability amid public demands for the president to resign over alleged economic mismanagement, warning that failure to do so would lead to economic catastrophe

Sri Lanka’s national medical association is warning that hospitals will be unable to provide emergency services in coming weeks because of critical shortages of drugs and medical equipment caused by the country’s economic crisis, leading to a catastrophic number of deaths if supplies aren’t replenished

Colombo (AFP) - Sri Lanka's president has appointed a panel of experts to organise a restructuring of foreign debt as he seeks a way out of a worsening economic crisis, with protests demanding his resignation escalating.