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No fuel shortage in the country – CPC

The Ceylon Petroleum Corporation (CPC) says that false rumors have been spread claiming that a shortage of fuel prevails in the country. The public need not unnecessarily panic as there is no such shortage of fuel, its Managing Director Neil Jayasekara said. He stated that rumors are spreading that fuel …

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Gas price reduced

The price of a domestic gas cylinder has been reduced by Rs. 138 with effect from midnight yesterday.   The price of the 5 kg LG gas cylinder has been reduced by Rs. 55 and the price of the 2.3 kg cylinder by Rs. 25 at the same time, the …

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Committee for updating petroleum prices once in three months

The cabinet of Ministers has granted approval to appoint a committee consisting of the officials of Treasury and Ministry of Petroleum Resources Development to implement the fuel price formula in a more transparent manner. The cabinet has approved a proposal presented by Minister of Finance and Mass Media Mangala Samaraweera …

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Sri Lankan rupee extends recovery as exporters sell dollar

The Sri Lankan rupee ended firmer on Friday, further pulling away from a record-low, as exporters sold the U.S. dollar and foreign investors bought government securities a day after the island nation received more than half a billion dollars from a Chinese port operator, dealers said. After market hours on …

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IMF urges Sri Lanka to let Rupee slide

The International Monetary Fund urged Sri Lanka to let its rupee keep sliding and not intervene further to bolster the ailing currency as it fell to historic lows. The currency bottomed out at roughly 160 rupees to the US dollar on Wednesday — its weakest ever point — despite efforts …

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Sri Lanka’s economic growth positive at 3.2% in Q1 2018

Sri Lanka’s economy grew at a positive rate of 3.2 percent during the first quarter of this year, the Census and Statistics Department said on Monday releasing the GDP Summary Indicators for the 1st Quarter 2018. According to a Department statement, the total economic output of Sri Lanka as measured …

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