The International Chamber of Shipping (ICS) has expressed disappointment over the failure of International Maritime Organization (IMO) member states to reach an agreement on the proposed Net-Zero Framework for the shipping industry, following the conclusion of the IMO’s Extraordinary Session of the Marine Environment Protection Committee (MEPC) in London. The proposed framework aimed to establish…
Reuters – Chinese car maker BYD will make its largest recall yet of more than 115,000 Tang series and Yuan Pro vehicles produced between 2015 and 2022 due to design defects and battery-related safety risks, China’s market regulator said on Friday. BYD has filed a plan with the State Administration for Market Regulation to recall…
The Government of Sri Lanka had discussions with the Asian Development Bank to mobilize a loan amounting to USD 100 million coupled with an externally financed grant amounting to USD 6.9 million from the Pandemic Prevention, Preparedness and Response Trust Fund (Pandemic Fund) for the Implementation of the Strengthening Integrated Health Care and Governance for…
In a significant transaction on the Colombo Stock Exchange (CSE), prominent Sri Lankan businessman and billionaire Dhammika Perera has completed the acquisition of a 40% stake in Harischandra Mills PLC, a well-established company known for its consumer goods and milling operations. Market sources confirmed the deal’s closure this morning, with Perera purchasing 778,946 shares from…
Lanka Ashok Leyland PLC, a successful joint venture between the Government of Sri Lanka and Ashok Leyland Limited of India, recently announced robust financial results for the first half of the financial year ending September 30th, 2025. The company emphasized its strategic focus on developing the local industry through local manufacturing/ assembly with increased value…
The International Monetary Fund (IMF) has commended Sri Lanka’s continued progress under its economic reform program, highlighting strong growth momentum following the country’s recovery from a deep economic crisis. At a press briefing presenting the latest regional economic outlook, Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department, and Thomas Helbling, Deputy Director, provided…
The government yesterday (16) opened a new window to issue air tickets at low rates for Sri Lankan migrant workers traveling abroad. The initiative was launched under the patronage of the Deputy Minister of Foreign Affairs and Foreign Employment, Mr. Arun Hemachandra, at the Sri Lanka Foreign Employment Agency located on Nawala Road, Narahenpita. Under…
As of 30.09.2025, the expected tax revenue was Rs. 1,610,599 million and accordingly Rs. 1,641,997 million has been earned (102 percent), officials of the Inland Revenue Department (IRD) recently informed the Committee on Ways and Means. It was revealed that out of the total tax revenue target of Rs. 2,195,220 million for the year 2025,…
Port City Colombo has been named the ‘Best Knowledge Zone – Asia Pacific Region’ and received a ‘Highly Commended’ citation for Sustainable Zones in the prestigious Global Free Zones of the Year 2025 rankings by fDi Intelligence, an imprint of the Financial Times (UK). The annual Global Free Zones of the Year awards by fDi…
The second edition of the maritime conference “VOYAGE SRI LANKA 2025,” organized by the Sri Lanka Export Development Board (SLEDB) in collaboration with key stakeholders from the public and private sectors, was successfully held on October 16, 2025, at the Kingsbury Hotel, Colombo, with the participation of Hon. Sunil Hadunnetti, Minister of Industry and Entrepreneurship…
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