Sri Lanka’s Economic Recovery Gains Momentum The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Dissanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history. The report…
In a strategic move to promote cashless transactions, HNB has announced the elimination of Merchant Discount Rates (MDR) for LANKAQR transactions among HNB appointed merchants who are enabled to accept LANKAQR payments. This initiative aims to make digital payments more accessible and cost-effective for businesses across Sri Lanka. Taking a leap into digitalizing the retail…
Regular trading at the Colombo Stock Exchange has been temporarily halted due to the S&P SL20 index dropping over 5 per cent from the previous close. The market has been halted for 30 minutes, the CSE said. Accordingly, the market was halted for sixteen minutes from 9.51 a.m. to 10.07 a.m. and the CSE conducted…
Reuters – Major stock indexes plunged in Asia on Monday as White House officials showed no sign of backing away from their sweeping tariff plans, and investors wagered the mounting risk of recession could see U.S. interest rates cut as early as May. Futures markets moved swiftly to price in almost five quarter-point cuts in U.S. rates…
MillenniumIT ESP, a leading technology solutions provider, has announced its expansion into the Australian market, marking its fifth international location. This strategic move strengthens the company’s global footprint and reinforces its commitment to delivering cutting-edge IT solutions across diverse industries. By establishing a strong presence in Australia, MillenniumIT ESP aims to accelerate digital transformation and…
Reuters – China on Friday announced a slew of additional tariffs and restrictions against U.S. goods as a countermeasure to sweeping tariffs imposed by U.S. President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34% on all U.S. goods from April 10. Beijing also announced controls on exports of medium and heavy…
Cinnamon Hotels & Resorts, Sri Lanka’s leading hospitality group, has appointed AVIAREPS India to spearhead its public relations and brand positioning efforts in India. Leveraging its strong presence in the Indian market and the country’s rapidly growing outbound travel segment, Cinnamon Hotels & Resorts aims to refine its communications approach and solidify its leadership position…
Sri Lanka’s apparel industry has expressed its concern over the Reciprocal Tariff policy announced by the U.S regime yersterday. The new tariffs proposed could significantly disrupt the country’s largest export sector and put thousands of jobs at risk. Following an announcement by U.S. President Donald Trump on April 2, a 10% baseline tariff on all…
Today, IMF Managing Director Kristalina Georgieva issued the following statement on yesterday’s announcement of U.S. tariffs: “We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth. It is important to avoid steps that could further harm…
US tariffs have reached levels that are transforming the global economic outlook, significantly raising US recession risks and constraining the Federal Reserve’s ability to lower interest rates further, says Fitch Ratings. The “Liberation Day” tariff increases outlined by the US government on 2 April sharply exceeded the already steep rises assumed in our March 2025 Global…
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