BIZ

China, Australia & US to enter SL fuel market

Published

2 years ago

March 27, 2023

editor

Minister of Power and Energy, Kanchana Wijesekera today (27) said that cabinet approval was granted today to award licenses to Sinopec, United Petroleum, Australia and RM Parks of USA in a collaboration with Shell PLC to enter the fuel retail market in Sri Lanka.

“Energy Committee & relevant other procurement committees had given their approval & recommendation to award the 3 companies the licenses to operate. The 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by CPC. They will be granted a license to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka. A further 50 fuel stations at New locations will be established by each selected company,” he had further Tweeted.

2) Energy Committee & relevant other procurement committees had given their approval & recommendation to award the 3 companies the licenses to operate. The 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by CPC. They will be…
— Kanchana Wijesekera (@kanchana_wij) March 27, 2023

BIZ

CBSL warns of 21 companies conducting pyramid schemes

Published

2 days ago

January 20, 2025

editor

Central Bank of Sri Lanka (CBSL) has conducted investigations and determined 21 companies as those that have engaged in pyramid schemes prohibited under Section 83 (C) of the Banking Act, No. 30 of 1988 as amended.

The companies are as follows :

press_20250120_notice_to_general_public_on_prohibited_pyramid_schemes_e Download

BIZ

Sathosa slashes brown sugar price

Published

4 days ago

January 18, 2025

editor

Lanka Sathosa, the only state owned supermarket chain in the country, has announced a price drop of brown sugar.

Accordingly, a kilo of brown sugar, which was Rs. 340, has been reduced to Rs. 300 by Rs. 40.

BIZ

SL – China currency swap agreement, renewed

Published

5 days ago

January 17, 2025

editor

The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (03) years, under the terms and conditions stipulated in the original agreement.

The CNY 10 billion (approximately USD 1.4 billion) currency swap facility reflects the financial cooperation between China and Sri Lanka.

Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, signed the agreement on behalf of the Central Bank of Sri Lanka, while Mr. Pan Gongsheng, Governor of the People’s Bank of China, signed on behalf of the People’s Bank of China.

(CBSL)