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CB issues “broad guidance” to banks on concessions to crisis-hit borrowers
The Central Bank (CB) yesterday has provided the banking sector with a broad guidance” to grant concessions for the next six months to borrowers hit by the on-going economic crisis while a similar guidance is expected to be issued to non-banking financial institutions (NBFIs) shortly.
Govt to present new budget to meet IMF expectations
The Government is preparing a new budget taking into account the measures proposed by the International Monetary Fund (IMF) to restore debt sustainability in Sri Lanka.
Government plans to tap Indian tourists to revive tourism
Sri Lanka plans to tap Indian tourists to revive the South Asian island’s battered tourism sector and shore up its depleted foreign exchange reserves.
Sri Lanka’s headline inflation to hit 70% in coming months
Sri Lanka’s headline inflation is expected to rise to 70 per cent in the coming months from the current level of 50%, the Governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe says.
Probe the huge profit margins CPC makes on imports, sales of fuel: PUCSL Head
The Public Utilities Commission of Sri Lanka (PUCSL) Chairman, Janaka Rathnayake, today urged the government to investigate the Ceylon Petroleum Corporation (CPC) for making huge profit margins on fuel imports and sales.