Dawn of 2025 brings many expectations to Sri Lankans as the country’s economy showing a promising positive turn. Expansion of Digital Economy is one such expectation. Sri Lanka’s journey toward a robust digital economy is gathering momentum, with the Federation of Information Technology Industry Sri Lanka (FITIS) at the helm of this transformation. With a…
Sri Lanka’s local assembly and automotive component manufacturing sector has become a significant pillar of the nation’s economy, driving job creation, conserving foreign exchange, and fostering technical innovation. Operating under the Ministry of Industries’ Standard Operating Procedure (SOP), the industry currently boasts over 17 assembly plants producing a range of vehicles, including motorcars, SUVs, motorcycles,…
The Inland Revenue Department (IRD) has recorded its highest-ever tax revenue collection in 2024, amounting to Rs. 1,958,088 million. This includes Rs. 1,023,207 million collected as income taxes and Rs. 714,684 million as Value Added Tax (VAT). According to an official announcement from the department, the total revenue collection for last year represents an increase…
After an unprecedented 26-day rally, the Colombo Stock Exchange (CSE) faced a significant decline today (03), with key indices recording sharp drops. The All Share Price Index (ASPI) declined by 299.13 points to close at 16,049.42, while the S&P SL20 Index fell by 46.05 points, ending the session at 4,925.82. The turnover of Rs. 11.48…
Expands the long-running programme in collaboration with the Coconut Cultivation Board The Nestlé Coconut Development Plan was expanded recently, benefiting 500 rural families in the Northern Province. Conducted for the eighth year running in collaboration with the Coconut Cultivation Board of Sri Lanka (CCB), the programme has supported approximately 5,000 home-growers with hybrid coconut plantlets…
On December 27, 2024, His Excellency Ruben Gauci, High Commissioner of the Republic of Malta to India and Sri Lanka, met with Mr. Mangala Wijesinghe, Chairman and CEO of the Sri Lanka Export Development Board (EDB), at the EDB premises to discuss ways to enhance bilateral trade relations between Malta and Sri Lanka. Mr. Shano…
By Imesha Dissanayake Introduction Sri Lanka known for its biodiversity and strategic location, is increasingly challenged by the global climate crisis. With rising temperatures, extreme weather, and sea-level rise, the country faces disruptions across key economic sectors, particularly agriculture, tourism, and manufacturing. This article explores how trade policies can integrate climate action to transform vulnerabilities…
In 2024, Sri Lanka Ports Authority (SLPA) terminals achieved their highest-ever throughput, reaching 2.41 million TEUs amidst competition. SLPA alone contributed 2,413,012 TEUs, emphasising its vital role in the port’s performance despite ongoing construction at both terminals. The Port of Colombo, together with other terminals, also hit a historic milestone with a total throughput of…
Thilan Wijesinghe, Chairman of TWC Group recently addressed global policymakers and experts at the ORF Cape Town Conversation, recently held in Cape Town, South Africa. Co-hosted by the Observer Research Foundation (ORF) and the Thabo Mbeki Foundation (TMF), the event served as a critical platform for addressing pressing global South’s challenges, including the future of…
A mixed but cautiously optimistic outlook prevails as Budget 2025 approaches Confidence about the economy in corporate circles remains subdued, despite the rise of the LMD-PEPPERCUBE Business Confidence Index (BCI), which perhaps suggests a sense of caution ahead of Budget 2025. According to Pepper-Cube Consultants, the newly elected government has been well received by the…
Video Story
