Business

Fitch Ratings has upgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’ from ‘RD’ (Restricted Default)

The government has decided to further ease certain restrictions imposed on outward remittances for a six month-period until June next year based on recommendation of the Central Bank (CB).

The government has extended the temporary lifting of rice import restrictions, allowing private importers to bring in rice without a license until January 10.

Central Bank (CBSL) yesterday said it has taken proactive measures to address the alarming increase in prohibited schemes under Section 83(C) of the Banking Act No 30 of 1988, as amended

If hybrid vehicle imports are taxed based on their engine capacity, it will satisfy both consumers and the government, while reducing the prices of existing vehicles in the country, President of the Sri Lanka Business Council of Japan Jagath Ramanayake said.

The Cabinet of Ministers has granted approval for the import of up to 30,000 metric tons of non-iodized salt by the State Trading Corporation to address the ongoing salt shortage in the market.

The Cabinet of Ministers has approved the extension of the compulsory age limit of retirement for government medical officers up to 63 years, with amendments to be made in line with the Pensions Act.

The Government of India has agreed to provide financial assistance amounting to Sri Lankan Rs. 300 million to address vehicle requirements for the Sri Lanka Police,