BIZ

No justification for coconut oil price hike – Coconut Development Authority

Published

1 week ago

June 18, 2024

nipuni

The Coconut Development Authority has stated that there is no valid reason for a price increase of coconut oil in the local market.

CDA chairman – Prof. Roshan Perera has emphasized that there has been no tax hike on imported coconut oil.
Given the sufficient supply of coconut oil for domestic consumption, Prof. Perera asserted that any price increase is unjustifiable.

Additionally, a new regulatory program is being planned to control and stabilize coconut oil prices in the market, he added.

BIZ

CBSL imposes penalties on Sampath Bank & DFCC Bank

Published

2 hours ago

June 26, 2024

editor

The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka (CBSL) has imposed administrative penalties on two financial institutions from 01 January 2024 to 30 April 2024.

According to the CBSL, administrative penalties were imposed on DFCC Bank PLC and Sampath Bank PLC.

The FIU collected penalties amounting to Rs. 3 million in total from 01 January to 30 April 2024 to enforce compliance on Financial Institutions, while the money collected as penalties was credited to the Consolidated Fund.

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BIZ

Coconut oil price upped

Published

1 week ago

June 17, 2024

nipuni

The price of a litre of coconut oil has been increased by more than Rs. 100, the National Consumer Front (NCF) has said.

NCF Chairman Asela Sampath said that the price of a litre of coconut oil has been increased by between Rs. 180 and Rs. 200.

Accordingly, the current retail price of a coconut oil litre is Rs. 550.

BIZ

Registration compulsory for all money changers

Published

2 weeks ago

June 14, 2024

nipuni

The Central Bank has issued a notice making it compulsory for all money exchange institutions to be registered with the Central Bank and regulated by it.

The CB order is in effect from 3 June 2024.

The Central Bank states that all money changers who are currently not registered will now receive the opportunity to provide such services in a systematic and regulated manner.