Author: LBO Admin
Hameedia launches ‘We Create’ – Sri Lanka’s first-ever online tailoring platform
Hameedia, Sri Lanka’s leading menswear brand, recently launched ‘We Create’, the country’s first-ever digital tailoring platform, via www.envoylondontailorstore.com. This innovation reflects Hameedia’s 75-year legacy of craftsmanship combined with modern technology, allowing customers to design personalized garments online. More than just clothing, Hameedia views fashion as the art of crafting identity. The brand has built a […]
NSBM signs loan agreement with BOC to accelerate phase II University development
NSBM Green University has signed a strategic loan agreement with the Bank of Ceylon (BOC) to support the ongoing Phase II development of its Homagama campus in a signing ceremony held on the 8th of May 2025 at the NSBM premises. The agreement was signed by Professor E. A. Weerasinghe, Vice Chancellor of NSBM, together with Professor Chaminda Rathnayake, […]
US-China Tariff De-escalation Does Not Signal Trade Normalisation: Fitch Ratings
The Joint Statement on US-China Economic and Trade Meeting in Geneva published on 12 May appears to be a significant de-escalation of the trade war between the two countries, Fitch Ratings says. But in the absence of a lasting deal, uncertainty over where tariff rates will settle and the impact of those already implemented will […]
U.S Effective Tariff Rate Declines to 13% from 23% with Lower China Duty: Fitch Ratings
Fitch Ratings has updated the U.S. Effective Tariff Monitor following the Joint Statement on U.S.-China Economic and Trade Meeting in Geneva, May 12, 2025, that reduces reciprocal tariffs. Fitch estimates that the U.S. effective tariff rate (ETR) is now 13.1%, a notable decline from 22.8% prior to the statement. The 34% reciprocal rate imposed by the U.S. […]
Sri Lanka CERT Issues Cybersecurity Alert Amid Regional Concerns
In light of recent cybersecurity reports emerging from the South Asian region, Sri Lanka Computer Emergency Readiness Team (CERT) has issued an urgent advisory urging all public and private sector organizations within the nation to elevate their cybersecurity vigilance and implement necessary precautionary measures. While Sri Lanka CERT explicitly stated that there is no direct […]
Trade War Hits Emerging Market Growth, Weaker Dollar Eases Some Risks: Fitch Ratings
Emerging-market (EM) issuers are variously exposed to direct and indirect impacts from the global trade war, Fitch Ratings says in a new report. Credit pressures may become most evident in EMs where tariff effects combine with aggravating factors or add to pre-existing pressures, even if direct US tariff exposures are small. APAC’s high trade openness […]
U.S. and Sri Lanka Mark 20 Years of Port Security Cooperation with Colombo Radiation Detection Upgrade
U.S. Ambassador to Sri Lanka Julie Chung commissioned new radiation detection equipment at Port of Colombo on Friday, March 28, provided by the U.S. Department of Energy/National Nuclear Security Administration (DOE/NNSA)’s Office of Nuclear Smuggling Detection and Deterrence (NSDD) through its Megaports Initiative. The equipment, valued at approximately $500,000 (Rs. 148 million), will be used […]
Human Development progress slows to a 35-year low according to UN Development Programme report
Human development progress is experiencing an unprecedented slowdown according to a new report released today by the United Nations Development Programme (UNDP). The report shows how Artificial Intelligence (AI) could reignite development. Instead of seeing sustained recovery following the period of exceptional crises of 2020-2021, the report reveals unexpectedly weak progress. Excluding those crisis years, […]
Civil society organizations Urge Government to Recommit to Open Government Partnership Amid Risk of Expulsion
As co-conveners of the Civil Society Organizations (CSOs) of the Open Government Partnership (OGP) process in Sri Lanka, Transparency International Sri Lanka (TISL) and the Sarvodaya Shramadana Movement express deep concern over the government’s continued lack of commitment to participatory governance. This inaction jeopardizes Sri Lanka’s membership in the OGP and starkly contradicts the government’s […]
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Fitch Ratings has assigned Seylan Bank PLC’s (A+(lka)/Stable) proposed Sri Lankan rupee-denominated, Basel III-compliant subordinated debentures of up to LKR15 billion an expected National Long-Term Rating of ‘A-(EXP)(lka)’. The proposed debentures, which will have maturities of five, seven and 10 years, will be listed on the Colombo Stock Exchange. The bank plans to use the […]
RIUNIT suburban real estate update: Rajagiriya
A residential oasis Rajagiriya, once a quiet Colombo suburb was initiallyflagged in the RIUNIT Real Estate Market report in 2014 as having one of the highest growth potentials amongst all the suburbs in the Western Province. Since then, the area has consolidated its position as a high-growth real estate hub, leveraging its strategic urban proximity […]
CSE and NCE Partner to Empower Sri Lankan Exporters
The Colombo Stock Exchange (CSE) and the National Chamber of Exporters of Sri Lanka (NCE) entered into a strategic partnership to support Sri Lankan exporters by enhancing their access to capital market opportunities and broadening visibility for their businesses. The partnership agreement was signed by Mr. Shiham Marikar, Secretary General / CEO, The National Chamber […]