By Dr Asanka Wijesinghe The United States’ (US) proclamation of “reciprocal tariffs” dealt a blow to the global trade system based on the World Trade Organisation (WTO) principles. With the individualised tariff rates, the US has discarded non-discrimination in the Most-Favoured-Nation (MFN) tariff structure. The “reciprocal tariff” rate does not show any reciprocity but rather…
The Sri Lanka Tourism Development Authority (SLTDA) has reported that the number of foreign tourist arrivals in the country in 2025 is approaching the one million mark. According to the latest statistics, a total of 956,639 tourists have visited Sri Lanka so far this year. During the first 13 days of May 2025 alone, 59,755…
The chairman of the BOI, Mr. Arjuna Herath, and senior officials met with the Sri Lankan foreign services designated Ambassadors and diplomatic representatives led by Sumith Dissanayake, DG, Human Resources, and Mission Development, and discussed the way forward for FDI attraction to Sri Lanka During the meeting, Mr. Herath also spoke about the need for…
Bank of Ceylon (BOC), Sri Lanka’s premier financial institution, delivered a strong and resilient performance in the first quarter of 2025. Building on the momentum of 2024, the Bank maintained financial stability, demonstrated prudent risk management, and remained aligned with national economic priorities in an evolving macroeconomic environment. The General Manager / Chief Executive Officer,…
Teejay Group, Sri Lanka’s first multinational textile manufacturer delivered a remarkable financial performance by posting a Profit After Tax of LKR 2.8 billion marking a substantial 152% year-on-year growth during the year ended 31st March 2025. The strong bottom-line performance was driven by the rapid execution of strategic initiatives, effective cost optimisation and Teejay’s ability…
In a landmark move towards digital transformation within Sri Lanka’s legal system, the Supreme Court officially launched online payment acceptance via GovPay, at a ceremony held on 15th May 2025 at the Supreme Court Complex in Hulftsdorp, Colombo 12, under the distinguished patronage of Honourable Chief Justice Murdu Fernando, PC. This digital initiative enables both…
Sri Lanka’s banking giant, the Bank of Ceylon closed its Debenture Issue 2025 in a few hours of opening on 15th May 2025 due to oversubscription, after receiving applications in excess of Rs 15 billion. This demonstrated the overwhelming investor confidence in the Bank. The Bank offered an initial issue up to 100 million Basel…
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…
The Colombo Stock Exchange (CSE) witnessed a strong rebound today (15), with the benchmark All Share Price Index (ASPI) climbing 183.55 points, or 1.14%, to close at 16,314.79. The S&P SL20 Index, which tracks the performance of 20 leading stocks, also advanced by 61.60 points (1.30%) to end at 4,795.63, reflecting improved investor sentiment across…
Hon. Deputy Minister of Tourism, Sri Lanka, Mr. Ruwan Ranasinghe, has been honored with a Professorship by Sichuan University, China, in recognition of his contributions to cultural heritage research and tourism development. Mr. Ranasinghe earned his PhD in Tourism Management from Sichuan University in 2017. Upon returning to Sri Lanka, he established the Department of…
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