Regulatory commission to be established for three-wheelers

Fitch Ratings warns of risks from political instability in Sri Lanka

Political instability in Sri Lanka will pose risks to the implementation of reforms and the distribution of IMF funding, Fitch Ratings warned today. Fitch Ratings said that the IMF staff-level agreement with Sri Lanka on a USD2.9 billion programme, confirmed on 1 September, appears to signal a sharp change in policy settings in order to achieve macroeconomic stability, including through large fiscal adjustment, greater exchange-rate flexibility and more central bank autonomy. Fitch said that t

02 Sep, 2022

Litro to slash price of domestic gas

Litro is to slash the price of domestic gas on Monday, Litro Gas Lanka Limited announced today. Muditha Peiris, the Chairman of Litro Gas Lanka Limited said that a decision has been taken to reduce the price of domestic gas from midnight on Monday. He said that the price will be reduced based on the gas pricing formula. Peiris said that over 5 million Litro Gas cylinders have been distributed to the market. He said that 95 percent of Litro Gas distributors now have gas supplies to market. M

02 Sep, 2022

Overseas travel ban on Basil temporarily lifted

The overseas travel ban imposed on former Finance Minister Basil Rajapaksa has been temporarily lifted. The Supreme Court lifted the ban until 15 January. The travel ban imposed on former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa had earlier been extended until 5th September. A motion had been filed in the Supreme Court seeking an overseas travel ban on Mahinda Rajapaksa, Basil Rajapaksa and former Governor of the Central Bank of Sri Lanka, Ajith Nivard Cabr

02 Sep, 2022