Category: Economy and Markets
Sri Lanka’s Plantation sector sounds alarm over 30% U.S. tariff
The Planters’ Association of Ceylon (PA) has expressed grave concern over the United States’ decision to impose a 30% tariff on Sri Lankan tea and rubber exports, set to take effect from August 1st. The Association warns that this move could devastate two of Sri Lanka’s most historic and employment-intensive sectors, tea and rubber undermining […]
Sri Lanka’s Textile and Apparel sector strengthens ESG transparency with new GRI-backed initiative
A new sustainability initiative is set to enhance the resilience, competitiveness, and global standing of Sri Lanka’s apparel sector. The Improving Transparency for Sustainable Business (ITSB) programme, jointly launched by the Global Reporting Initiative (GRI) South Asia, the Sustainable Development Council (SDC) of Sri Lanka, Sri Lanka Export Development Board (EDB) and the Joint Apparel […]
IMF Staff Concludes Visit to Sri Lanka
The economic reforms implemented by Sri Lankan authorities are bearing fruit, with growth outperforming, inflation progressing to target, external reserves accumulating, and fiscal revenues improving. Sustaining the reform momentum is critical to safeguarding macroeconomic stability, entrenching the recovery, and building Sri Lanka’s resilience to shocks amid trade policy uncertainty and geopolitical tensions. Progress in meeting […]
Macktiles Lanka makes history as first to achieve real porcelain perfection with 100pct SL minerals
In a singular moment that rewrites the narrative of global manufacturing excellence, Macktiles Lanka (Private) Limited has achieved what was once considered impossible: creating authentic real porcelain tiles using exclusively Sri Lankan minerals. The island’s extraordinary geological wealth has now proven its potential extends far beyond traditional applications, with Macktiles unlocking the manufacturing capabilities of […]
Capital Market Content to Be Integrated into Proposed Financial Literacy Curriculum
A seminar on “Financial Literacy” was held on 18th July 2025 at the Ministry of Education, providing a platform for stakeholders involved in ongoing education sector reforms to contribute to the integration of financial literacy into the school curriculum. The initiative was spearheaded by Hon. Prof. Anil Jayantha Fernando, Minister of Labour and Deputy Minister […]
The Once and Future Industrial Northern Province
By Jekhan Aruliah The Chamber of Commerce and Industries of Yarlparnam, CCIY, was born in the short period of optimism in 1999. When the Sri Lankan Civil War, at that time already aflame for 16 years, seemed to be heading toward a settlement. Opposing sides were sitting at the same negotiating table. That optimism was […]
Trinasolar partners Solaris Energy to deliver 25MWp of utility-scale solar across Sri Lanka
Trinasolar, a global leader in smart PV and energy storage solutions, signed a Memorandum of Understanding (MOU) with Solaris Energy (Pvt) Ltd., a leading solar distributor in Sri Lanka, to collaborate on the supply and deployment of 25 megawatt-peak (MWp) of solar modules across the country. The agreement was formalized at SNEC 2025 in Shanghai, […]
Central Bank of Sri Lanka keeps Overnight Policy Rate unchanged at 7.75-pct
The Monetary Policy Board decided to maintain the Overnight Policy Rate (OPR) at the current level of 7.75% at its meeting held yesterday. The Board arrived at this decision after carefully considering both domestic and global developments. The Board is of the view that the current monetary policy stance will help steer inflation towards the […]
Pan Asia Bank felicitated for exemplary professionalism by the Central Bank of Bangladesh
In a ceremony at Bangladesh Bank headquarters in Motijheel recently, officials from Sri Lanka’s Pan Asia Banking Corporation (PABC) received high praise for thwarting a major cyber fraud aimed at siphoning US $20 million from Bangladesh Bank’s account at the Federal Reserve Bank of New York. Bangladesh Bank Governor Dr Ahsan H. Mansur led the honour, […]
The future of electric driving has arrived
Electric cars are no longer just about saving fuel or reducing emissions. They’re quickly becoming the new standard for luxury, technology, and smart mobility. And two new models are making waves for all the right reasons. Quietly referred to as the IM5 and IM6, these next-generation sedans are changing how we think about driving. A […]
Pre-Budget Discussions for 2026 Begin
A discussion on the preliminary budget framework and development direction related to the submission of proposals for the 2026 Budget was held yesterday afternoon (16) at the Presidential Secretariat between President Anura Kumara Disanayake and officials of the Ministry of Finance. Accordingly, the President inquired from the Ministry of Finance officials about the current progress […]
Softlogic Life completes 100% acquisition of Allianz Life Insurance Lanka Ltd
Softlogic Life Insurance PLC has successfully completed the acquisition of 100% of the shares of Allianz Life Insurance Lanka Limited (Life Business), following the receipt of regulatory approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL). The transaction marks a significant milestone, following the initial announcement on 26th March 2025. Softlogic Life recorded Gross […]