Sri Lanka Insurance Life Records astounding Rs. 26.3 billion in GWP with a 25% growth Record Rs. 5.3 bn in New Business, achieving Unprecedented 48% growth in 2024 An exceptional payout totaling Rs. 13.7 billion for Claims and Maturity, averaging Rs. 1.15 billion per month Sri Lanka Insurance Corporation Life Limited (SLICLL) concludes the 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…
CNBC – China has pushed back once again to U.S. President Donald Trump’s tariff policies by hiking its levies on U.S. imports to more than 80%. China’s Office of the Tariff Commission of the State Council said that tariffs on U.S. goods will rise to 84% from 34% starting on April 10, according to a…
Hosts APICTA Executive Committee Meeting 2025, Welcoming Delegates from 15 Countries As part of its national drive to accelerate digital transformation and position itself as a key player in the regional technology landscape, Sri Lanka successfully hosted the Asia Pacific ICT Alliance (APICTA) Executive Committee (EXCO) Meeting 2025 recently at the Hilton Colombo. The high-level…
The Colombo Stock Exchange (CSE) has announced amendments to its Listing Rules to allow the listing of foreign currency-denominated debt securities issued by entities incorporated or established in Sri Lanka. Approved by the Securities and Exchange Commission (SEC), the revised rules—effective from February 20, 2025—introduce new eligibility criteria for local entities earning at least 50%…
Verdant Capital, through its Verdant Capital Hybrid Fund, has injected an additional $4.5 million into LOLC Africa Singapore Limited, bringing its total investment in the pan-African microfinance operator to $13.5 million. This follow-on investment builds upon an initial $9 million commitment made in June 2023. Both funding tranches, structured as holding company loans, are designated…
The Sri Lanka Export Development Board (EDB) recently organized a stakeholder consultation to discuss strategies for mitigating the potential adverse impact of the newly imposed 44% reciprocal tariff by the United States on Sri Lankan exports. The meeting, chaired by Mr. Mangala Wijesinghe, Chairman and Chief Executive Officer (CEO) of the EDB, brought together representatives…
The Asian Development Bank’s (ADB) flagship economic publication, the Asian Development Outlook (ADO) April 2025, forecasts Sri Lanka’s recovery to continue at a moderate growth of 3.9% in 2025 and 3.4% in 2026 following the strong rebound in 2024. Economic recovery that began in the second half of 2023 continued across all sectors in 2024….
Tariff revenues will help narrow the US budget deficit in 2025, but the hit to economic growth and additional tax cuts are likely to limit the size of any lasting fiscal benefit, Fitch Ratings says. Stabilizing US debt/GDP will be challenging as long as long-term spending pressures remain unaddressed. The tariffs announced on April 2…
The extension granted for Parate execution expired on March 31, 2025. With the expiration of the Parate execution, the Government of Sri Lanka remains steadfast in its commitment to facilitate the revitalization of SMEs. To provide support to this sector, a relief period has been extended until December 31, 2025. For SMEs with borrowings below…
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