Fitch Ratings: Sharp US tariff increases will disrupt corporate supply chains and affect economic growth and corporate earnings in APAC and globally, despite the 90-day pause on some of the larger tariff hikes announced on 2 April, says Fitch Ratings. However, few of our rated APAC corporates face a combination of high sector vulnerability, low…
Analysis finds cost of ingredients has more than doubled since 2019 The cost of preparing a traditional “kevili” table for the Sinhala and Tamil New Year has increased by 7% in 2025 compared to 2024, and stands more than twice as high as it was in 2019. This was revealed in the annual ‘New Year…
The Hambantota Sinopec Oil Refinery – A Strategic Bet on the Future In the evolving landscape of global energy trade, few moves are as audacious as Sri Lanka’s decision to greenlight a multi-billion-dollar oil refinery in Hambantota. More than an infrastructure project, this refinery signals Sri Lanka’s ambition to reposition itself at the centre of…
Chinese Poet Ma Zhiyuan (1250-1321AD) from the Yuan Dynasty wrote below lines describing an image of an old man traveling though an uninhabited landscape at sunset evoking the sorrow of loneliness. Withered vines, old trees, crows at dusk A small bridge, flowing water, cottages hushed. Ancient road, west wind, a lean horse plods The sun…
Business Sentiment: Post-Budget Dip in Confide The IMF recently approved the highly anticipated disbursement of US$ 334 million – the fourth tranche under its Extended Fund Facility (EFF). Following the review, its Managing Director Kristalina Georgieva emphasised the importance of maintaining the reform agenda to decisively guide Sri Lanka towards sustainable and inclusive growth. In…
Total exports, including both merchandise and services, reached at US$ 1,382.53 Mn in February 2025, marking a notable 4.62% year-on- year growth compared to February 2024. Additionally, exports recorded a 2.58% month-on-month increase compared to January 2025. According to provisional data from Sri Lanka Customs and estimated figures for Gems & Jewellery and Petroleum Products,…
The Effects of GSP+ Withdrawal on Sri Lanka’s Exports and Labour Force Growing uncertainties on the future of global trade as President Trump seeks to impose reciprocal tariffs make programmes such as the European Union’s Generalised Scheme of Preferences Plus (GSP+) more significant for small exporters such as Sri Lanka. With a reported visit by…
Indian Prime Minister Narendra Modi who is leading the Indian economic expansion is expected to visit Sri Lanka in April. He is likely to discuss issues including connectivity & economic ties with Sri Lankan counterparts. According to legend, Prince Rama connected the two countries to send Monkeys to create chaos & conflict. To mitigate similar situations…
By Dr Asanka Wijesinghe The proposed additional tariffs on the US imports from Canada, China, and Mexico went into effect early Tuesday morning (March 4), paving the way for a trade war between the US and major trade partners. In addition, the Presidential Memorandum on Reciprocal Trade and Tariff of the United States (US) has…
Investments exit in Sri Lanka causes development dilemmas By Kishore Reddy Sri Lanka’s economic development over the years have faced significant setbacks the withdrawal of several major infrastructure and investment projects. The recent pullout of Adani Green’s USD 1 billion renewable energy project being the latest in a concerning pattern. The cancellation of the Japan…
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