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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 […]
NSBM Green University partners with American University, USA
Her Excellency Julie J. Chung, U.S. Ambassador to Sri Lanka “It is a proud moment to witness this partnership between American University and NSBM Green University—a powerful reflection of the enduring ties between the United States and Sri Lanka. The United States continues to attract the brightest minds and foster innovations that shape the future. […]
CEAT’s share in Sri Lanka’s Original Equipment tyre market tops 90-pct
Six years after it entered into its first Original Equipment Manufacturer (OEM) partnership in Sri Lanka, CEAT Kelani Holdings has grown into a significant contributor of value addition to the country’s burgeoning automobile assembly industry. Locally-manufactured CEAT tyres are now original equipment in 11 brands of vehicles rolling off assembly lines in Sri Lanka, ranging […]
Sri Lanka, IMF Discuss EFF Progress, US Tariff Impact
A meeting between President Anura Kumara Disanayake and an International Monetary Fund (IMF) delegation concluded successfully today, April 7, 2025, at the Presidential Secretariat. The discussions centered on the preliminary review of the fourth tranche of Sri Lanka’s Extended Fund Facility (EFF) arrangement. The primary focus involved assessing Sri Lanka’s progress under the IMF-supported program […]
Ripple Effects: How US Trade Policies Cast a Long Shadow Over Sri Lanka and Beyond
By Uddeepa Peiris MBA, PDGBA, Bcom(Sp), RIA, ACPM, CMA (Passed Finalist),ASA (CPA) Introduction In an interconnected global economy, the trade policies of major powers like the United States have far-reaching consequences. While geographically distant, Sri Lanka—along with numerous other emerging markets—finds itself vulnerable to the shifting tides of US trade strategies. This article delves into […]
IMF Warns of “Significant Risk” to Global Economy Following US Tariffs
The International Monetary Fund (IMF) has issued a stark warning regarding the potential impact of newly announced U.S. tariffs on the global economy. In a statement released today, IMF Managing Director Kristalina Georgieva expressed concern over the measures, highlighting the potential for increased economic instability. “We are still assessing the macroeconomic implications of the announced […]