By Prof. Samitha Hettige Chinese Astronauts (Taikonauts) in Shenzhou -19 recently simulated natural photosynthesis taking the human race one step forward on board China’s space station ‘Tiangong’. They for the first time produced oxygen & the ingredients for rocket fuel. Scientists believe that these are key steps essential for human survival & space explorations. 12…
The members of Tea Exporters Association (TEA) are concerned over the proposed abolition of SVAT from April 2025 as cashless SVAT system (Suspended VAT) provides exporters with a significant level of relief towards the constraints on their cash flow requirements to fund VAT payments on locally sourced inputs. The SVAT was introduced in April 2011 to…
By Emeritus Professor Asoka Nugawela (Department of Plantation Management, Wayamba University of Sri Lanka & Former Director, Rubber Research Institute of Sri Lanka) Sri Lanka earned 930 million US$ from the export of both raw rubber and rubber products in 2023. Out of that the major share, around 900 million US$, came from the export…
‘Custom’ is a way of behaving or a belief that has been established for a long time. It can also be the support given to a business by the people who buy products or services from it. ‘Customs’ is the place at a port, airport, or border where travelers’ bags are checked to find out if any items are being carried illegally. The fees paid at Customs are fees paid to the government when particular goods are taken from one country to another (Ref. Cambridge). Good &…
The index soars for the fourth consecutive month as economic indicators strengthen Recent upgrades by international rating agencies and healthy economic indicators have ignited a wave of optimism about biz prospects. Moody’s Ratings upgraded Sri Lanka’s long-term foreign currency issuer rating from ‘Ca’ to ‘Caa1’ with a stable outlook, after creditors approved the country’s US$…
By Rajul Sood, Managing Director and Global Head of Banking, Acuity Knowledge Partners As we step into 2025, the banking industry is faced with a number of changes, shaped by a convergence of modest economic growth, new monetary policies, and intricate geopolitical risks. While these elements pose challenges, they also offer unprecedented opportunities for innovation,…
China’s first energy law adopted by the Standing Committee of the 14th National People’s Congress in November 2024 is effective from 1st January 2025. Analysts believe that this is an unprecedented step to modernize China’s energy management. This law shall manage the energy sector establishing institutional frameworks for green & low carbon energy transition ushering…
By Dr Lakmini Fernando and Sunimalee Madurawala Sri Lanka’s economic crisis, fuelled by unsustainable debt and a default in 2022, left the country struggling to stabilise its economy. Its high climate vulnerability that disrupts livelihoods exacerbated the economic challenges. In the face of dual pressures from an economic crisis and climate vulnerability, the need for…
By Imesha Dissanayake Introduction Sri Lanka known for its biodiversity and strategic location, is increasingly challenged by the global climate crisis. With rising temperatures, extreme weather, and sea-level rise, the country faces disruptions across key economic sectors, particularly agriculture, tourism, and manufacturing. This article explores how trade policies can integrate climate action to transform vulnerabilities…
A mixed but cautiously optimistic outlook prevails as Budget 2025 approaches Confidence about the economy in corporate circles remains subdued, despite the rise of the LMD-PEPPERCUBE Business Confidence Index (BCI), which perhaps suggests a sense of caution ahead of Budget 2025. According to Pepper-Cube Consultants, the newly elected government has been well received by the…
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