Category: Other
Alibaba.com’s Export Strategist to Guide Sri Lankan SMEs on Expanding Global Footprint
The Ceylon Chamber of Commerce will host a special session on May 29th featuring a high-level executive from Alibaba.com, aimed at helping Sri Lankan Small and Medium Enterprises (SMEs) expand their global footprint and tap into new overseas markets. The session will be conducted by Ma Haobo, Business Development Manager at Alibaba.com, who has supported […]
UK Trade Envoy on inaugural visit to Sri Lanka
The UK Prime Minister’s Trade Envoy for Sri Lanka, Lord Hannett of Everton, is visiting Colombo from 25th-28th May. This is his first visit to Sri Lanka since he was appointed in January 2025. Lord Hannett will meet with the Minister of Trade, Commerce, Food Security and Cooperative Development Hon. Wasantha Samarasinghe, Deputy Minister for […]
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, […]
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. […]
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 […]
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, […]
Foreign Minister to attend Pope Francis’s Funeral Mass
Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath will represent the Government of Sri Lanka at the funeral of His Holiness Pope Francis to be held on 26 April 2025 in Saint Peter’s Square, Vatican City. Ministry of Foreign Affairs, Foreign Employment and Tourism Colombo
Deep Cuts to Growth Forecasts as Global Trade War Escalates: Fitch Ratings
Fitch Ratings has sharply lowered its forecasts for world growth in response to the severe escalation in the global trade war. In a special update to its quarterly Global Economic Outlook, Fitch has cut world growth in 2025 by 0.4pp and China and US growth by 0.5pp from the March edition. US annual growth in […]
TISL Welcomes Passage of Proceeds of Crime Act: A Landmark Step in SL’s Anti-Corruption Efforts
The Proceeds of Crime Act introduces non-conviction based asset forfeiture and strengthens Sri Lanka’s legal tools for recovering illicit assets, including those held abroad. The law shifts the burden of proof, enabling more effective recovery of stolen wealth and aligning Sri Lanka’s legal framework with international standards. TISL highlights the law’s focus on asset recovery […]
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.
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 […]
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 […]