Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) reached 63.9 in March 2025, recording its highest value in four years. All sub-indices posted month-on-month expansions, reflecting a notable improvement in manufacturing activities, driven by the strong seasonal demand. The sharp increases in the New Orders and Production sub-indices, particularly within the food and…
Reuters – The European Central Bank cut interest rates for the seventh time in a year on Thursday, looking to prop up an already struggling euro zone economy that will take a large hit from U.S. tariffs. The ECB has been lowering borrowing costs as post-pandemic price pressures retreat, and recent trade-related turmoil on global…
Reuters – Gold eased on Thursday as investors booked profits after bullion hit an all-time high earlier, with U.S. restrictions on chip sales to China and continued tariff uncertainty boosting bullion’s safe-haven demand. Spot gold shed 0.1% to $3,338.81 an ounce, as of 0436 GMT, after touching a record high of $3,357.40 earlier in the…
Why USA is a critical Tea market and need to request full Tariff free access for the future of our Tea industry? USA is an important tea market and rank as the second largest buyer of tea in the world in terms of value of tea imports. As per available information it has imported over…
HNB PLC, Sri Lanka’s leading private sector bank, announced a partnership with the Road Development Authority (RDA) to launch the island’s first card-based toll payment system, marking a significant step forward in enhancing commuter convenience and modernising national transport infrastructure. The pilot phase of the initiative was officially launched on April 11, 2025, at the…
Further reinforcing its leadership in sustainable finance, DFCC Bank has become the largest investor in Alliance Finance Company PLC’s (AFC) Green Bond Issue, investing LKR 500 million—half of the total LKR 1 billion issuance. Rated A- by Lanka Rating Agency Limited, the AFC Green Bond is listed on the Colombo Stock Exchange (CSE), with proceeds…
The Inland Revenue Department (IRD) announced that locally produced liquid milk and yogurt are now exempted from Value Added Tax (VAT), following the enactment of the Value Added Tax (Amendment) Bill. In a statement issued this week, the department clarified that the VAT exemption came into effect on April 11, the day the bill received…
Business Standard – China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions, the White House said in a statement on Tuesday evening. The announcement came as President Donald Trump signed an executive order launching an investigation into the national security risks associated with US…
The Employees’ Provident Fund (EPF) strengthened its position as the leading entity in the superannuation sector, accounting for 81.0% of the sector’s total assets by the end of 2024. The Fund’s net worth rose by 12.6% year-on-year to Rs. 4,375.7 billion, up from Rs. 3,886.7 billion in 2023, primarily driven by robust investment returns and…
By Jithendra Antonio The recent conversation at Sri Lanka’s Committee on Public Finance (‘COPF’) meeting on 11 March is a topic hotter than the coils in the ‘vapes’ that so many remain misinformed about. The reported snippets of the meeting, however, highlight the confusion among some policymakers regarding the legality and regulation of these vapour…
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