“As a result of negotiations with the United States, the previously imposed tariff rate was successfully reduced. Discussions are ongoing to secure the maximum possible concessions” – President President Anura Kumara Disanayake stated that, as a result of recent discussions with the United States, the previously imposed reciprocal tariff rate was successfully reduced from 44% to…
Softlogic Life Insurance PLC has successfully completed the acquisition of 100% of the shares of Allianz Life Insurance Lanka Limited (Life Business), following the receipt of regulatory approval from the Insurance Regulatory Commission of Sri Lanka (IRCSL). The transaction marks a significant milestone, following the initial announcement on 26th March 2025. Softlogic Life recorded Gross…
30% US tariff on Sri Lankan rubber products effective 1 August threatens $1B export industry Tyre and glove exports at risk as competitors enjoy lower tariffs Over 150,000 livelihoods in rural Sri Lanka could be impacted without urgent intervention The Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) has called on the…
City of Dreams Sri Lanka, South Asia’s first fully integrated luxury resort, is set to make a bold mark on the region with its much-anticipated grand opening on 2 August 2025. In a strategic move to spotlight the country’s growing appeal as a high-end tourism destination, the resort will welcome over 100 international journalists, influencers,…
Sri Lanka stands to benefit significantly from the UK’s latest trade reforms, as the British government unveiled a series of upgrades to the Developing Countries Trading Scheme (DCTS) on 10 July. The changes include simplified rules of origin, allowing more Sri Lankan goods — particularly garments — to enter the UK tariff-free, even when using…
Independent Growth Study Group unveils critical strategies for sustained and transformative growth in 2025-2030 A new report launched today offers a bold roadmap for Sri Lanka to achieve sustainable and inclusive economic growth over the coming five years. Sustaining Transformative Growth in Sri Lanka 2025–2030, authored by an Independent Growth Study Group under the auspices of ODI…
Second daily service to offer the award-winning Premium Economy seats Emirates, the world’s largest international airline, will deploy its retrofitted four-class Boeing 777 on flights EK650/651 operating between Dubai and Colombo from 18 July. Services on the enhanced aircraft, with newly-configured and refreshed cabins, will be the airline’s second daily flight in Sri Lanka to…
Reuters – U.S. President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10% on all imports to the United States, as well as additional duties on certain products or countries. Here is a list of targeted tariffs he has…
The announcement of a 30% reciprocal tariff by the U.S., scheduled to take effect from 1st August 2025, has raised significant concern within Sri Lanka’s apparel industry. As one of the country’s largest export earners, the sector relies heavily on access to the U.S. market, and such a steep increase threatens to erode competitiveness, particularly…
Strengthening Collaboration in Agriculture, Nutrition and Digital Infrastructure President Anura Kumara Dissanayake today (10) met with Dr. Chris Elias, President of Global Development at the Gates Foundation, for high-level discussions focused on key areas critical to Sri Lanka’s development. The meeting, held at the Presidential Secretariat, explored collaborative efforts in agricultural modernisation, nutrition, digital public…
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