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UK recognises Sri Lanka’s current economic challenges
The United Kingdom recognises the difficult economic situation in Sri Lanka and welcomes the start of in-depth discussions with the International Monetary Fund (IMF) on reforms needed to bring the economy back to a sustainable path, the British Minister claimed. .
Two finance companies fined Rs.1.5 mn for violating Central Bank rules
Two finance companies have been filed a total of Rs.1.5 million by the Central Bank (CB) for violating anti-money laundering and terrorist financing regulations imposed by the banking regulator (CB). The fines were imposed in September 2021.
Central Bank decides to liquidate five failed finance companies
Five failed finance companies are to be liquidated in accordance with a decision taken by the Monetary Board of the Central Bank of Sri Lanka (Monetary Board)
SL Trade Development Council demands Govt. to protect SMEs
Sri Lanka Trade Development Council (SLTDC) recently demanded immediate action from the Government to protect the small and medium enterprises (SMEs) with a plan to Cabinet paper, warning they would otherwise bring all engaged in the sector to the streets
Sri Lanka confectionery industry suffers 30 percent production drop
Sri Lanka’s confectionary industry has suspended the production of several of its most popular product ranges to prioritise the manufacturing of ready-to-eat items, which is becoming a popular option as the country continues to face severe shortage in gas.