The Monetary Board of the Central Bank has decided to impose administrative caps on certain lending products of financial services institutions, as interest rates charged on these products still remain at extremely high levels despite the sharp decline in policy interest rates.

Insurance Regulatory Commission of Sri Lanka (IRCSL) yesterday said it had informed insurance companies not to ask for ‘No-objection’ letters from financiers to pay insurance claims on vehicles that are under hire purchase or lease agreements.

An amount of Rs 1.5 billion was given to the Treasury yesterday as the 2022 annual dividend of Ceylon Mineral Sands Limited under the Ministry of Industry.

DHAKA, Aug. 21 -- Sri Lanka has repaid $50 million to Bangladesh, an official of Bangladesh Bank has said. Bangladesh had earlier lent $200 million amid economic crisis in the island nation.

According to the Airline Pilots’ Guild of Sri Lanka (ALPGSL) a staggering shift of almost 70 pilots to rival airlines underscores the gravity of the situation.

During the six months ending June 2023, the Government revenue and grants had increased to Rs. 1,317 trillion in comparison to Rs. 919.5 billion recorded in the corresponding period of 2022, the Central Bank has announced.

Hili, Aug. 20 -- The Revenue Department of the Indian Finance Ministry has imposed a 40 percent duty on onion exports to Bangladesh effective today, causing a hike in the price of the item mainly used as spice in local markets.

The much delayed tea for oil deal between Sri Lanka and Iran has begun following the intervention of President’s chief of staff Sagala Ratnayake who took prompt action to send stock of tea worth US$5 million to Iran.

Public Private Partnerships Projects in Sri Lanka will be allowed subject to settlement of the total cost of such projects