Radi

Banks have virtually stopped lending to private borrowers as interest rates climbed to restrictive territory and the economic conditions turned from bad to worse prompting them to tighten credit conditions to contain any more damage to their asset quality.

The Committee on PublicEnterprises (COPE) is to summon the chairman of Litro Gas and its officials today Tuesday 05 to inquire into allegations that a recent deal with Omani company OQ Trading was marred byirregularities.Its Chairman, Prof. Charita Herath stated that the officials of the company have been instructed to appear on Tuesday at 2PM to answer allegations of irregularities in the LP Gas deal with oq trading of Oman whose local agent was 3D and H company with high political connections.

Following controversial reports on the Japanese government's unwillingness to aid Sri Lanka due to the country's corrupt politicians as supposedly disclosed by the Japanese...

The senior management of the Ceylon Petroleum Corporation (CPC) has been questioned by the President and Finance Ministry as to why a fuel shipment has not been ordered before June 22 and the reasons behind the failure of the 40,000 MT fuel tanker’s arrival at the Colombo Port on June 22 -23.,Official sources said .

The Government of Japan has decided to provide Emergency Grant Aid of USD 3 million through UNICEF and World Food Program (WFP) for the provision of medicine and food in a manner that would directly benefit the Sri Lankan people.