Ranganathan’s bakery closure sparks tax defence from minister

A government minister has defended national insurance rises after an 89-year-old bakery chain co-owned by comedian Romesh Ranganathan ceased trading. Coughlans Bakery, which had branches in Kent, Surrey, West Sussex and south London, announced it had closed on Tuesday, blaming the government’s decision to hike business rates and national insurance contributions for employers. The bakery’s…

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Major Finance Company ordered to wind up by CBSL

The Central Bank of Sri Lanka (CBSL) has cancelled the finance business licence of Nation Lanka Finance PLC with effect from July 3, 2026, and will proceed with winding up the company under the Banking (Special Provisions) Act, No. 17 of 2023. CBSL said it had placed the company under administration on July 4, 2025,…