Category: Economy and Markets
CDS and Sampath Bank sign MOU to Streamline Foreign Investor Onboarding through Digital Integration
The Central Depository Systems (Pvt) Limited (CDS), a wholly owned subsidiary of the Colombo Stock Exchange (CSE), signed a Memorandum of Understanding (MoU) with Sampath Bank PLC to enhance the facilitation of Inward Investment Accounts (IIAs) for non-resident foreign individuals (FIs) in Sri Lanka. The CDS serves as the depository and custodian for securities traded […]
CAL Marks Key Milestone with Listing on the Colombo Stock Exchange
The shares of Capital Alliance Holdings Limited (CODE: CALH-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 30th May 2025. The shares are listed on the Main Board of the CSE under the ‘Diversified Financials’ sector. The occasion was marked with a special Bell Ringing Ceremony. The Company’s Offer for Subscription of 157,500,000 ordinary […]
Building dreams, driving change: BYD gains ground in Sri Lanka’s auto market
The world’s leading New Energy Vehicle (NEV) brand, BYD is making significant inroads in Sri Lanka’s automotive market just months after entering the country. Since the easing of import restrictions in early 2025, the brand has rapidly gained traction among Sri Lankan consumers, with growing demand for its electric and plug-in hybrid vehicle range. The […]
Sri Lanka’s liquid gold: The evolving story of pure Ceylon tea
The world recently celebrated International Tea Day on 21 May 2025 under the theme “Bringing people together over a cup of tea.” The day aims to raise awareness of tea’s long history and its deep cultural and economic significance worldwide, promoting collective action for sustainable production and consumption while highlighting tea’s fundamental role in uplifting […]
Discussion Focused on a Long-Term Industrial Development Strategy to Overcome Export Barriers
A discussion on the challenges facing Sri Lanka’s export industry was held this morning (28) at the Presidential Secretariat, under the patronage of President Anura Kumara Disanayake. The meeting brought together heads of institutions under the Ministry of Industry and Entrepreneurship Development, as well as officials from the Ministry of Finance and Planning. The discussion […]
Strong April 2025 performance of Sri Lanka’s Apparel sector; JAAF
Sri Lanka’s apparel industry recorded an encouraging 15.14% year-on-year growth in April 2025, reflecting a notable rebound in demand from major global markets. According to data released by the Joint Apparel Association Forum (JAAF), exports to the EU (excluding the UK) surged by an impressive 27.04%, while shipments to the USA and UK grew by […]
Sri Lanka’s Exports Surge to USD 5.5 Billion in First Four Months of 2025
Sri Lanka’s export sector demonstrated remarkable resilience and steady progress during the first four months of 2025, with total exports reaching US$ 5,583.25 Mn, marking a robust 6.9% increase compared to the same period in 2024. This upward trend reflects renewed momentum across key industries and underscores the sector’s adaptability in an evolving global trade […]
Sri Lankan Delegation to Engage in Tariff Talks in Washington
A Sri Lankan delegation is set to participate in discussions in Washington, D.C., focusing on tariff-related matters, following an invitation extended by the Office of the United States Trade Representative (USTR). This is the second in-person meeting aimed at ongoing efforts to strengthen bilateral trade relations between the two nations. This initiative builds on several […]
‘s Electricity Reforms, Financing Assurances Review for Next Tranche
The much-anticipated approval of Sri Lanka’s Extended Fund Facility (EFF) program by the International Monetary Fund (IMF) Executive Board is expected “in the coming weeks,” but its precise timing hinges on two key contingencies, according to Julie Kozack, Director of the IMF’s Communications Department. During a press briefing on May 22, 2025, Kozack addressed questions […]
Central Bank further reduces Overnight Policy Rate by 0.25-pct
The Monetary Policy Board decided to reduce the OPR by 25 bps to 7.75% at its meeting held yesterday, thereby easing monetary policy further. The Board arrived at this decision after carefully considering the developments both domestically and globally. The Board is of the view that this measured easing of monetary policy stance will support […]
Hemas Holdings PLC Appoints Ashish Chandra as Group Chief Executive Officer
Hemas Holdings PLC, announced the appointment of Ashish Chandra as its new Group Chief Executive Officer, effective 1st July 2025. This appointment marks a strategic inflection point for Hemas as the Group sharpens its focus on accelerating growth across larger emerging markets, expansion into adjacencies, and driving technology-led transformation to position the business for sustained success. A seasoned […]
”; Outlook Stable
Fitch Ratings has affirmed the National Long-Term Ratings of Sri Lanka-based conglomerate Melstacorp PLC and its subsidiary, Distilleries Company of Sri Lanka PLC (DIST), at ‘AAA(lka)’. The Outlook is Stable. The ratings on Melstacorp and its stronger subsidiary DIST are based on the consolidated credit profile of Melstacorp, in line with Fitch’s Parent and Subsidiary Linkage […]