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Reuters – China on Friday announced a slew of additional tariffs and restrictions against U.S. goods as a countermeasure to sweeping tariffs imposed by U.S. President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34% on all U.S. goods from April 10. Beijing also announced controls on exports of medium and heavy…
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Joey, the designers and retailers of ‘Happinesswear’ has launched a special Avurudu clothing edition for the whole family including ladies, gents, and children, themed “A celebration of Auspicious Elegance in Pearl and Copper” for their discerning customers. “Avurudu is about family, tradition, and fresh beginnings. We designed this collection to be elegant yet effortless—so you…
The Association of Professional Bankers (APB) Sri Lanka has announced its committee for the 2025/26 term at its recent Annual General Meeting held at The Kingsbury Colombo. The event saw the appointment of Mr. Anton Arumugam, Senior Vice President – Offshore Banking, Remittances & Business Development at DFCC Bank PLC, as the 36th President of…
99x, in collaboration with SLASSCOM, recently organised a hands-on security workshop, ‘Wanderers Above the Sea of Vulnerabilities,’ to address the growing need for professionals to safeguard software systems against evolving cybersecurity threats. Led by 99x security experts Arjuna De Silva, Kanishka Abeykoon, and Kushantha Rajaratne, the workshop provided participants with an in-depth learning experience tailored…
Signifies expansion with Keel Laying for Steel Ferries Leading infrastructure development company, Edward and Christie Pvt Ltd, has acquired a 60% stake in Dolphin Marine Lanka Pvt Ltd, marking its strategic expansion into Sri Lanka’s fast developing shipbuilding and repair industry. This move aligns with Edward and Christie’s vision of diversifying beyond its core construction…
JAT Holdings has revolutionized the way loyalty programs serve daily wage earning painters and carpenters – JAT’s key stakeholders, with the relaunch of its JAT Loyalty Program. Designed to uplift the lives of painters and carpenters, the unsung heroes of the paint and coating industry. The revamped program extends beyond conventional rewards to address their…
Access Motors recently launched the 2025 Range Rover at Shangri-La Colombo. True to its legacy, the new Range Rover redefines modern luxury, blending breathtaking modernity, peerless refinement, and unmatched capability, all informed by over 50 years of evolution. The event showcased the SUV’s groundbreaking features, including its advanced powertrains, cutting-edge technology, and unparalleled personalisation options,…
OREL IT, a global technology company, leading in next-gen technology solutions, has earned dual recognition at the prestigious Best Management Practices Company Awards (BMPC) 2025. The company emerged as the Category Winner in IT, Software, and BPO Services, while also ranking among the Top 20 Outstanding Companies in Best Management Practices. These honours were awarded…
Lenovo, a leading name in innovative technology solutions, in collaboration with IT Gallery Computers Pvt Ltd , hosted an exclusive event today in Sri Lanka, bringing together channel partners and valued customers for an immersive experience in the latest advancements in computing. The event featured an impressive lineup of devices, insightful keynotes, and in-depth product…
Reinforcing its commitment to becoming Sri Lanka’s most customer-centric and accessible Bank, DFCC Bank has partnered with OrionStellar, to strengthen its digital infrastructure further. With top-tier security and reliability certifications, OrionStellar will support DFCC Bank in meeting stringent financial regulations while delivering customers seamless and secure digital banking experiences. This collaboration is a natural extension…
LinearSix, a leading digital transformation specialist in financial services, has announced the expansion of its partnership with global Insurtech provider InsureMO. This strategic collaboration aims to accelerate the adoption of cutting-edge digital insurance solutions across Sri Lanka and the broader APAC region, empowering insurers with AI-driven and API-powered technologies. As digital economies continue to reshape…
Top News
Cinnamon Hotels & Resorts, Sri Lanka’s leading hospitality group, has appointed AVIAREPS India to spearhead its public relations and brand positioning efforts in India. Leveraging its strong presence in the Indian market and the country’s rapidly growing outbound travel segment, Cinnamon Hotels & Resorts aims to refine its communications approach and solidify its leadership position…
Sri Lanka’s apparel industry has expressed its concern over the Reciprocal Tariff policy announced by the U.S regime yersterday. The new tariffs proposed could significantly disrupt the country’s largest export sector and put thousands of jobs at risk. Following an announcement by U.S. President Donald Trump on April 2, a 10% baseline tariff on all…
Today, IMF Managing Director Kristalina Georgieva issued the following statement on yesterday’s announcement of U.S. tariffs: “We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth. It is important to avoid steps that could further harm…
US tariffs have reached levels that are transforming the global economic outlook, significantly raising US recession risks and constraining the Federal Reserve’s ability to lower interest rates further, says Fitch Ratings. The “Liberation Day” tariff increases outlined by the US government on 2 April sharply exceeded the already steep rises assumed in our March 2025 Global…
Bangladeshi industry faces 37% US tariffs after political crisis Garment exporters worried about order cancellations Apparel exports critical for economy of impoverished Bangladesh Sri Lanka sets up panel to study ‘potential issues’ for exporters Indian garments industry could benefit from Trump’s move Reuters – Bangladeshi garment exporter Shahidullah Azim woke up on Thursday to the…
The Sri Lanka Export Development Board (EDB) recently hosted a productive meeting with Mr. Toyokazu Nagamune, South Asia Regional Representative of Japan’s Ministry of Economy, Trade, and Industry (METI), to explore the potential for establishing a regional economic cluster aimed at facilitating the export of manufactured goods to Japan and other regions. This initiative seeks…
Cargills Bank PLC has issued a statement regarding the cybersecurity incident first disclosed on March 21 and March 25, 2025. The bank reassured customers that its core banking operations remain fully secure and functional, despite an unauthorized party claiming to have accessed and published certain bank data, the statement said. Find the full statement attached…
Sri Lanka’s largest private sector retail bank, HNB PLC, announced the successful completion of an ambitious and comprehensive transformation of its Human Resources (HR) framework, as part of a broader mission to ensure a high-performing, future-ready workforce. Working in partnership with two of the region’s leading strategic consulting firms, Cerebrus Consultants and Mercer Consulting, HNB’s…
Analysis
Business Sentiment: Post-Budget Dip in Confide The IMF recently approved the highly anticipated disbursement of US$ 334 million – the fourth tranche under its Extended Fund Facility (EFF). Following the review, its Managing Director Kristalina Georgieva emphasised the importance of maintaining the reform agenda to decisively guide Sri Lanka towards sustainable and inclusive growth. In…
Total exports, including both merchandise and services, reached at US$ 1,382.53 Mn in February 2025, marking a notable 4.62% year-on- year growth compared to February 2024. Additionally, exports recorded a 2.58% month-on-month increase compared to January 2025. According to provisional data from Sri Lanka Customs and estimated figures for Gems & Jewellery and Petroleum Products,…
The Effects of GSP+ Withdrawal on Sri Lanka’s Exports and Labour Force Growing uncertainties on the future of global trade as President Trump seeks to impose reciprocal tariffs make programmes such as the European Union’s Generalised Scheme of Preferences Plus (GSP+) more significant for small exporters such as Sri Lanka. With a reported visit by…
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