John Keells CG Auto (Pvt) Ltd (JKCG), the authorised distributor of BYD vehicles in Sri Lanka, has announced that the Court of Appeal has ordered the release of approximately 1,000 BYD vehicles that were held by Sri Lanka Customs for nearly a month. The release follows a Writ Application filed by JKCG on August 4,…
Sri Lanka’s official reserve assets increased by 1% to USD 6.14 billion in July 2025, compared to USD 6.08 billion in June 2025, according to the Central Bank of Sri Lanka (CBSL). However, this figure includes proceeds from the swap arrangement with the People’s Bank of China (PBOC), which are subject to conditionalities on usability.
Concerns raised by the business community in June appear to have been short-lived with sentiment shifting once again in July. THE ECONOMY The latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, conducted in the first week of July, reveals a notable surge in optimism about the economy. A substantial 70 percent of respondents believe the economy will…
A $2.5 Billion Dice Roll Attracting the Subcontinent’s Ultra-Rich to the Vegas of South Asia By Jithendra Antonio In a transformative declaration that reverberates through South Asia’s economic corridors, gaming tycoon Lawrence Ho’s recent bold proclamation at the August 2025 launch of the US $1.2 billion City of Dreams Sri Lanka has crystallized what many…
Hemas’ Performance Momentum Continues in FY 25/26 with 26% Earnings Growth in Q1 Performance Review for the Three Months ended 30th June 2025 Overview The Group sustained its positive trajectory from the previous year, delivering a resilient performance for the quarter achieving a cumulative revenue of Rs. 28.5 billion. Operating profit and earnings grew by…
Reuters – The United States will impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so, President Donald Trump said. Trump told reporters in the Oval Office on Wednesday the new tariff rate would apply to “all chips and semiconductors coming into the United…
Government officials and export sector representatives unite to address 20% US tariff impact on Sri Lankan goods The Sri Lanka Export Development Board (EDB) held a successful discussion today (06th) regarding the 20% tariff recently imposed by the United States on Sri Lankan goods. High-level government officials and numerous export sector representatives gathered for this…
The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka has imposed administrative penalties on two casinos and one state-owned bank for non-compliance with the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA). The penalties, totalling Rs. 6.5 million, were issued between January and June 2025 under the powers vested in the…
Sri Lanka recorded a total revenue of Rs. 2,322 billion in the first six months of 2025, reflecting a notable improvement from Rs. 1,861 billion during the same period in 2024, according to the mid-year fiscal review released by the Ministry of Finance. The increase was driven by both tax and non-tax revenue. Tax collections…
Hayleys Mobility, the newest venture under Hayleys Fentons, has officially entered the electric and hybrid vehicle market through an exclusive distribution partnership with OMODA & JAECOO Automobile Co., Ltd, the premium NEV brand of Chery Automobile Co., Limited. The agreement grants Hayleys Mobility full franchise rights in Sri Lanka for OMODA & JAECOO. Chery has…
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