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VIDEO: Trump pauses higher tariffs for 90 days because of ‘Yippy’ Reaction but slaps China with 125-pct
President Trump announced he would impose a 125% tariff on China for retaliating against the U.S., while also announcing a 90-day pause on some tariffs.
Opinion: Sri Lanka’s Billion-Dollar Gamble for Energy Security Reshaping Global Energy Trade
By Jithendra Antonio The Hambantota Sinopec Oil Refinery – A Strategic Bet on the Future In the evolving landscape of global energy trade, few moves are as audacious as Sri Lanka’s decision to greenlight a multi-billion-dollar oil refinery in Hambantota. More than an infrastructure project, this refinery signals Sri Lanka’s ambition to reposition itself at […]
Sri Lanka’s growth recovery exceeded expectations but remains fragile
The Asian Development Bank’s (ADB) flagship economic publication, the Asian Development Outlook (ADO) April 2025, forecasts Sri Lanka’s recovery to continue at a moderate growth of 3.9% in 2025 and 3.4% in 2026 following the strong rebound in 2024. Economic recovery that began in the second half of 2023 continued across all sectors in 2024. Inflation […]
Sri Lanka launches the new National Anti-Corruption action plan
The Commission to Investigate Allegations of Bribery and Corruption (CIABOC) has officially launched the National Anti-Corruption Action Plan (NACAP) 2025-2029 today, as a strategic initiative to reaffirm the country’s commitment to strengthening governance, enhancing transparency, and reinforcing the rule of law. CIABOC led the development of the NACAP, supported by the technical expertise of the […]
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Frontier markets such as Sri Lanka, Pakistan (Caa2 positive) and Bangladesh, which do not have the capacity to import as much from the US and whose current account balances are relatively fragile, could see a worsening of their broader external positions that will potentially weigh further on the outlook for economic growth, according to the […]
Tariffs Have Mixed Fiscal Impact, Will Not Solve Underlying Challenges in US Economy, says Fitch Ratings
Tariff revenues will help narrow the US budget deficit in 2025, but the hit to economic growth and additional tax cuts are likely to limit the size of any lasting fiscal benefit, Fitch Ratings says. Stabilizing US debt/GDP will be challenging as long as long-term spending pressures remain unaddressed. The tariffs announced on April 2 […]
‘s March Tourist Arrivals Climb 9.62-pct Year-on-Year
Sri Lanka’s tourism industry shows robust performance in early 2025, with JanuaryMarch statistics revealing significant growth. The first quarter recorded 722,276 tourist arrivals, representing 35.2% of 2024’s annual total (2,053,465). January led with 252,761 visitors (21.4% year-overyear increase), followed by February with 240,217 (+10.0%) and March with 229,298 (+9.62%). While growth remains positive throughout Q1, […]
Major Currencies Strengthen Against US Dollar Despite Tariffs: Fitch Ratings
The currencies of most major economies have appreciated against the US dollar since the start of 2025, despite the massive jump in US tariffs, Fitch Ratings says in its new FX Market Monitor. Developed market currencies (except Australia) have appreciated by an (unweighted) average of 4.5% since end-2024. Market participants’ concerns about the adverse impacts […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green bonds of up to LKR15 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’. The proposed bonds, which will mature in five, seven and ten years, will be listed on the Colombo Stock Exchange. The bank plans […]
Port City Colombo Champions ‘Invest Sri Lanka’ Forum 2025 In Thailand As Official Partner
Port City Colombo participated as a Platinum Partner at the ‘Invest Sri Lanka’ Business Forum 2025, held on 3rd April, 2025 in Bangkok, Thailand. The event was organised by the Embassy and Permanent Mission of Sri Lanka in Thailand in collaboration with the Thai-Sri Lanka Chamber of Commerce. The aim of this premier occasion was […]