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Pilot Project Launched in Southern Province to Strengthen Regional Contribution to Export Development
A strategic discussion aimed at enhancing the contribution of provincial export development was held on 22nd April 2025 under the patronage of Hon. Sunil Handunnetti, Minister of Industry and Entrepreneurship Development, at the Matara District Secretariat. The event marked the initiation of a pilot project in the Southern Province, designed to develop and implement a […]
CSE Launches XBRL System to Enhance Financial Reporting for Listed Companies
The Colombo Stock Exchange (CSE), in collaboration with the Securities and Exchange Commission of Sri Lanka (SEC) and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), has embarked on a significant initiative to introduce the eXtensible Business Reporting Language (XBRL) for listed entities in Sri Lanka. This move is expected to transform […]
‘s Q1 2025 Exports Surge by 5.87-pct, Reaching USS 4.21 Bn
Sri Lanka has demonstrated remarkable resilience and growth in its export sector during the first quarter of 2025, with total exports reaching US$ 4,212.13 Mn, reflecting a robust 5.87% growth compared to the same period last year. March 2025 proved particularly successful with total exports, including both merchandise and services, reaching US$ 1,507.90 Mn. This […]
SL Economy Outpaces Growth Projections, More Efforts Needed to Reduce Poverty, Boost Growth: WB
Sri Lanka’s economy has made a remarkable recovery in 2024, surpassing growth expectations by recording 5 percent growth, compared to the projected 4.4 percent, says the World Bank. This growth has been driven by strong performances in industry and services, particularly in construction and tourism-related services. In 2025, growth is expected to moderate to 3.5 […]
”’ Rating
Fitch Ratings has assigned Siyapatha Finance PLC’s (A(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured debentures of up to LKR5 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’. Key Rating Drivers The proposed debentures will mature in five years and will be listed on the Colombo Stock Exchange. The company plans to use the proceeds to […]
Wealthy Minds Social media platform: Caution issued by the SEC
Type of enforcement action Caution 04th April 2025 Name of Party Wealthy Minds Academy (Private) Limited and its two (2) Directors: 1. Mr. Rajapaksha Dunuge Kavinda Harith Rajapaksha 2. Mr. W. L. P. Thisura Wishwa Prabathiya Wijesinghe Conduct and outcome The Commission issued Notices of Caution to this Company and its two Directors for their reckless […]
Opinion: Exposure to US tariffs through Global Value Chains in Asia & Pacific
On 2 April 2025, the United States introduced a two-tier tariff regime comprising a 10 per cent universal baseline tariff and elevated country-specific tariffs of up to 50 per cent, targeting 57 countries—including many in the Asia-Pacific—with limited exemptions. Although the country-specific tariffs were suspended on 9 April for all but China, policy uncertainty remains. […]
Deep Cuts to Growth Forecasts as Global Trade War Escalates: Fitch Ratings
Fitch Ratings has sharply lowered its forecasts for world growth in response to the severe escalation in the global trade war. In a special update to its quarterly Global Economic Outlook, Fitch has cut world growth in 2025 by 0.4pp and China and US growth by 0.5pp from the March edition. US annual growth in […]
TISL Welcomes Passage of Proceeds of Crime Act: A Landmark Step in SL’s Anti-Corruption Efforts
The Proceeds of Crime Act introduces non-conviction based asset forfeiture and strengthens Sri Lanka’s legal tools for recovering illicit assets, including those held abroad. The law shifts the burden of proof, enabling more effective recovery of stolen wealth and aligning Sri Lanka’s legal framework with international standards. TISL highlights the law’s focus on asset recovery […]
IMF staff team concludes visit to SL; discussions to continue toward reaching an agreement in near term
An International Monetary Fund (IMF) team led by Evan Papageorgiou visited Colombo from April 3 to 11, 2025. After constructive discussions in Colombo, Mr. Papageorgiou issued the following statement: “Sri Lanka’s ambitious reform agenda supported by the IMF Extended Fund Facility (EFF) continues to deliver commendable outcomes. The post-crisis growth rebound of 5 percent in […]