Colombo has been ranked the most unaffordable city in the world for buying property, according to the latest Property Prices Index from Numbeo, the world’s largest cost-of-living database.

The data show that the price-to-income ratio in Colombo is 55.3, meaning the average property costs more than 55 times the average annual income. 

By comparison, the gross rental yield—the annual rental income as a percentage of property price—is just 3% in the city center and 3.8% outside the center, making property investment less profitable.

Furthermore, the mortgage burden for the average resident is staggering, with mortgage payments equivalent to 774% of annual income. The city’s a

The Singapore government will contribute US$100,000 (S$129,000) as seed money to support the Singapore Red Cross’ (SRC) public fundraising efforts for the humanitarian crisis resulting from the recent cyclone in Sri Lanka. 

The contribution will supplement the SRC’s pledge of S$50,000 to support the immediate needs of affected communities in Sri Lanka, the Ministry of Foreign Affairs (MFA) said in a statement on Friday (Dec 12). 

Singapore President Tharman Shanmugaratnam and Minister for Foreign Affairs Vivian Balakrishnan have also written to Sri Lanka’s President Anura Kumara Dissanayake and Minister of Foreign Affairs Vijitha Herath respectively to convey their condolences over the tragic loss of lives and destruction caused by the cyclone, MFA said. 

With USD 2.4 million in assistance, the Maldives has provided the largest aid contribution to Sri Lanka.

Foreign Minister Dr. Abdulla Khaleel states Maldivians have raised over USD 2.4 million in donations for Sri Lanka to support its residents in the aftermath of Cyclone Ditwah.

Speaking at the handover ceremony after accepting the donations on behalf of the Maldivian government, Foreign Minister Khaleel said the substantial funds raised during the telethon reflect the strong bonds of brotherly ties between Maldivians and Sri Lankans. He added it is proof the Maldives will be ready to assist at any time a neighbouring nation calls out for help.