Govt. incurs Rs. 6b loss through Sathosa

Published

2 years ago

September 25, 2022

editor

It is reported that Lanka Sathosa has incurred a loss of Rs. 6 billion due to selling lentils and tinned fish at a loss.

According to reports, lentils purchased at Rs. 154 per kilo, have been sold at Rs. 65 at a loss of Rs. 89.

In addition, a tin of fish purchased at Rs. 210, has been sold at Rs. 100 at a loss of Rs. 110.

Sathosa had sold these products at these prices over a pledge made by former President Gotabaya Rajapaksa during the Covid-19 pandemic.

CBSL warns on 21 companies conducting pyramid schemes

Published

8 hours 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

3 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

3 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)