BBC – Starting Monday, the daily economic burdens of millions of Indians could ease slightly. Staples like milk and bread, life and medical insurance and life-saving drugs will become tax-free. Consumption tax on small cars, television sets and air conditioners will drop from 28% to 18%. And other common goods like hair oil, toilet soap…
On the invitation of the United Nations Secretary-General, António Guterres, three representatives from UN Global Compact Network Sri Lanka (Network Sri Lanka) will participate in the 2025 United Nations Private Sector Forum (PSF), a high-level roundtable that brings together a select group of global private sector leaders to drive forward sustainable economic growth as a…
Reuters – Panic, confusion and anger reigned as workers on H-1B visas from India and China were forced to abandon travel plans and rush back to the U.S. after President Donald Trump imposed new visa fees, opens new tab, in line with his wide-ranging immigration crackdown. Tech companies and banks sent urgent memos to employees, advising…
On Sept. 19, 2025, S&P Global Ratings raised its long- and short-term foreign currency sovereign credit ratings on Sri Lanka to ‘CCC+/C’ from ‘SD/SD’. We also affirmed our ‘CCC+/C’ long- and short-term local currency ratings. The outlook on both the long-term foreign and local currency ratings is stable. The transfer and convertibility assessment remains ‘CCC+’….
The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) closed at a new all-time high after making significant gains today. Accordingly, the ASPI rose by 119.83 points or 0.57% to close at 21,085.09 points, surpassing its previous record of 21,062.45 points set on September 01, 2025. Today’s turnover was recorded as over…
Union Bank is pleased to announce that its Board of Directors has resolved to issue up to a maximum of Thirty Million (30,000,000), Basel III-compliant, listed, rated, unsecured/debenture(s) of Rs. 100 each to raise a maximum of Rupees Three Billion ( 3,000,000,000) to be offered to investors subject to shareholder and regulatory approvals. This issuance…
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), today proposed the appointment of Daniel Katz as First Deputy Managing Director, effective October 6, 2025. The appointment is subject to approval by the IMF’s Executive Board. Mr. Katz currently serves as Chief of Staff to U.S. Treasury Secretary Scott Bessent at the United States…
Sri Lanka’s ongoing electricity sector reforms having highlighted the urgent need to align financial viability, sustainability, and consumer protection, a recent discussion on tariff methodology was held together with policymakers and experts underscoring that both cost recovery and cost reflectiveness are vital principles for a strong and transparent electricity sector. These views were expressed at…
The second day of Disrupt Asia 2025, Sri Lanka’s premier startup conference and innovation festival running from September 17–20, unfolded today at Cinnamon Life with the main conference, drawing international attention and underscoring the country’s ambition to position itself as South Asia’s emerging innovation hub. The event has attracted more than 100 venture capitalists from…
A pre-budget discussion with representatives of the pharmaceutical, veterinary medicine, Ayurvedic and cosmetic manufacturing sectors was held yesterday morning (18) at the Presidential Secretariat, under the chairmanship of Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando. During the discussion, industry representatives expressed their full support for the government’s economic development…
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