An initiative that promises secure digital identities, minimum cost to Sri Lankan taxpayers, and total data control In a major push towards digital transformation, the Government of Sri Lanka announced that it will launch its national Digital ID system by April 2026, a move that promises to revolutionize access to public services while ensuring strong…
The overall rate of inflation as measured by the CCPI on Y-on-Y basis is -0.3% in July 2025 and Y-on-Y inflation calculated for the month of June 2025 was -0.6%. The Y-on-Y inflation of Food Group decreased to 1.5% in July 2025 from 4.3% in June 2025 and the Y-on-Y inflation of Non Food Group…
The US Department of State Wednesday announced sanctions on 20 entities, including six from India, for trading with Iran. Six Indian companies are under the radar of the US Department of State. Their fault? They “engage in Iranian petroleum, petroleum products, or petrochemical trade”. This reportedly violates American sanctions under Executive Order 13846. The US…
In a major milestone for Sri Lanka’s startup ecosystem, nVentures has emerged as the country’s first foreign venture capital firm to be licensed by Singapore’s Monetary Authority (MAS) and actively invest in local startups. In just three years, the firm has backed six Sri Lankan ventures, delivered a portfolio exit, and, together with its regional…
In 2024, the global approach to measuring business climate saw a major transformation. The World Bank Group introduced the Business Ready (B-READY) Index, its new flagship report aimed at assessing the business and investment environment across countries. This index replaces the discontinued Ease of Doing Business (EoDB) report and brings with it a more robust,…
The 3rd Japan–Sri Lanka Policy Dialogue was held on 30 July 2025 in Colombo at the Ministry of Foreign Affairs, Foreign Employment & Tourism. The Dialogue served as a constructive platform for the two countries to exchange views on foreign policy matters and a wide range of bilateral issues, paving the way for enhanced cooperation….
Reuters – HSBC Holdings, opens new tab reported a sharper-than-expected drop in profit on Wednesday, hurt by write-downs from exposures to a Chinese bank and Hong Kong real estate, while the bank pushed ahead with a global restructuring. Its 26% slump in pretax profit in the first half showed the challenge ahead for CEO Georges Elhedery,…
Reuters – President Donald Trump said on Wednesday the U.S. will charge a 15% tariff on imports from South Korea as part of a deal that eases, for now, tension with a top-10 trading partner and key Asian ally. The arrangement, announced shortly after Trump met with Korean officials at the White House, came during a blizzard…
Union Bank of Colombo PLC has reported a Profit After Tax (PAT) of LKR 251 million for the first half of 2025 ending 30 June, marking a 247% increase compared to the same period in 2024. This robust profit growth was underpinned by continued expansion of the Bank’s balance sheet and strategic operational improvements. Profit…
Donald Trump said that India will pay a penalty over and above the decided 25% for its trade with Russia despite the ongoing Ukraine war Hindustan Times – US President Donald Trump on Wednesday announced that “friend” India will be paying a 25 per cent tariff from August 1. He also noted that New Delhi…
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