CBSL bans 9 pyramid schemes including OnmaxDT and MTFE SL Group
The Central Bank of Sri Lanka (CBSL) has banned 9 entities including the OnmaxDT and MTFE SL Group that have conducted pyramid schemes which are prohibited in the country.
The Central Bank of Sri Lanka (CBSL) has banned 9 entities including the OnmaxDT and MTFE SL Group that have conducted pyramid schemes which are prohibited in the country.
Rising interest rates and declining export demand are dampening the economic resurgence of numerous Asian economies in the aftermath of COVID-19. But for Sri Lanka, the only country in the region to default on its official debt amid the economic squeeze caused by the pandemic however the outlook is considerably brighter.
Peoples’ Bank has denied reports expressed in social media on its non-performing loan (NPL) write-offs.
Sri Lanka ranks 104th out of 125 developing and least developed countries (LDCs) in its implementation of trade facilitation measures over the last six years, a new study by Verité Research has found.
Ten entrepreneurs who received intensive help from the United States Agency for International Development (USAID) and Good Life X (GLX) business accelerator to develop their climate adaptation ideas displayed their results in a Demo Day event on August 2.
The minister of finance has issued orders to temporarily suspend or limit certain outward remittances of foreign exchange.
The European Commission has suggested a four-year extension to the Generalised Scheme of Preferences Plus (GSP+) for Sri Lanka.
Eight Sri Lankan business conglomerates have signed agreements to pursue commercial mediation to settle disputes as opposed to always using litigation, a move that will help make the Sri Lankan judicial system more efficient and effective by reducing case backlogs.
The Inland Revenue Department (IRD) says that it has collected tax revenue of Rs. 696,946 million for the first half of this year.
Sri Lanka had verifiably met 33 of the trackable programme commitments of the International Monetary Fund (IMF) programme as at the end of June 2023 but had failed eight, according to the ‘IMF Tracker', an online tool launched by Verité Research.