CSE recorded foreign outflow exceeding Rs. 3bn

Sri Lanka, May 28 -- A notable level of foreign selling was recorded in the Colombo Stock Exchange (CSE) on May 26. This resulted in a massive net foreign outflow of Rs. 3.03 billion. The total mark... Read More

Health authorities urge dansal organisers to maintain hygiene

Sri Lanka, May 28 -- Considering the current health situation, dansal organisers should pay top attention to cleanliness and food quality when preparing cooked meals, said Community Medicine Specialis... Read More

Fitch warns Sri Lanka's tighter gold and car loan caps to slow growth, squeeze lenders' earnings Sri Lanka's tighter macroprudential restrictions on vehicle and gold-backed lending will benefit lenders' risk profiles, particularly those of finance companies, Fitch Ratings says. The Central Bank of Sri Lanka's lower loan-to-value (LTV) caps target two products that have expanded rapidly in recent years and represent a substantial share of mainly finance companies' balance sheets. The tighter caps may also weigh on volumes and earnings growth, particularly for lenders with high exposure to these products. The LTV cap on motor car financing was lowered on 25 May 2026 to 60% from 70% for vehicles registered for over one year, and to 40% from 60% for unregistered vehicles and those registered for less than one year. The central bank also introduced transitional treatment for letters of credit opened before the new direction where financing has not yet been obtained. LTV limits on gold-backed lending were also reduced to 70% from 80%, applying to both new loans and rolled-over facilities. We believe the tighter limit should help moderate risk build-up in gold-backed lending, which has expanded rapidly at banks and finance companies, supported by high collateral values, favourable capital treatment and low provisioning. Both products are exposed to collateral value risk. Local vehicle prices are sensitive to changes in import duties and tax policy, while gold prices can be volatile.

Sri Lanka, May 28 -- Sri Lanka's tighter macroprudential restrictions on vehicle and gold-backed lending will benefit lenders' risk profiles, particularly those of finance companies, Fitch Ratings say... Read More

Welikada Police OIC remanded

Sri Lanka, May 28 -- The Officer-in-Charge (OIC) of the Welikada Police, who was arrested by the Colombo Central Crime Investigation Bureau over allegations of demanding bribes has been remanded until... Read More

Cyber scam targets drivers with fake police traffic fine messages

Sri Lanka, May 28 -- The Sri Lanka Computer Emergency Readiness Team issued an urgent warning to the public regarding a sophisticated cyber scam that defrauds drivers of their money and personal infor... Read More

Joint Opposition demands disciplinary inquiry into CIABOC DG

Sri Lanka, May 28 -- An immediate disciplinary inquiry into the conduct of the Director General of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) Ranga Dissanayake is nece... Read More

Fire at bookstore in Kurunegala

Sri Lanka, May 28 -- A fire has broken out at a bookstore in Kurunegala town. Police say four fire engines have been deployed to extinguish the blaze. Published by HT Digital Content Services with p... Read More

PM calls for lasting unity beyond Hajj Day

Sri Lanka, May 28 -- Prime Minister Dr. Harini Amarasuriya, extending greetings for the Hajj festival, said the occasion highlights the importance of rising above differences through brotherhood and u... Read More

Accident disrupts traffic in Madampe

Sri Lanka, May 28 -- Traffic has been disrupted in the Madampe area along the Chilaw-Colombo main road, after a car crashed into an electricity pole. Published by HT Digital Content Services with per... Read More

Rainy conditions to persist in southwestern Sri Lanka

Sri Lanka, May 28 -- The current rainy conditions in the southwestern parts of the island are expected to continue, according to a statement issued by the Department of Meteorology. Showers or thunde... Read More

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