BUSINESS

Central Bank restricts banks to make discretionary payments

The Central Bank has suspended cash dividends by licensed banks incorporated in Sri Lanka, among a host of other restrictions on discretionary payments, effective...

SL to face severe essential food shortage due to open account ban

Sri Lanka Government is set to ban the use of open accounts for imports except the overall export sector including indirect exporters with effect...

SL fuel purchase at sport price hits Forex reserve rock bottom

With its creditworthiness shot, the Sri lanka government is buying oil at spot prices, that is, the going rate as container ships pull into...

ADB 55TH Annual Meeting in Colombo postponed in socio- economic crisis

Asian Development (ADB) Fifty-Fifth Annual Meeting scheduled to be held in Colombo is to be postponed indefinitely from 5 to 8 September 2022 due...

Sri Lanka Faces Acute Food Shortages and Starvation Amid Economic Crisis

Sri Lanka’s political turmoil and economic crisis have brought about a catastrophic food shortage, with the nation’s 21 million residents now forced to pay...

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