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Manufacturing PMI hits 4-year high in March amid seasonal demand surge

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…

(0)Comments | April 18, 2025 6:54 am

ECB cuts rates again to help economy weather erratic U.S. trade policy

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…

(0)Comments | April 17, 2025 6:24 pm

Profit-booking pulls gold off all-time high

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…

(0)Comments | April 17, 2025 2:23 pm

Impact of USA Reciprocal Tariff on Sri Lanka Tea Exports to USA

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…

(0)Comments | April 17, 2025 2:13 pm

A First for Sri Lanka: HNB and RDA Introduces Card Payment on Expressways

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…

(0)Comments | April 17, 2025 1:37 pm

DFCC Bank leads the charge in sustainability with LKR 500 Mn investment in AFC’s Green Bond

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…

(0)Comments | April 17, 2025 10:38 am

VAT exempted on locally produced milk and yogurt; digital services and traders face new tax changes

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…

(0)Comments | April 17, 2025 8:41 am

China faces up to a 245% tariff on imports to the US, says White House

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…

(0)Comments | April 16, 2025 6:36 pm

EPF declares 11% interest after assets jump to Rs. 4.38 trillion in 2024

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…

(0)Comments | April 16, 2025 2:34 pm

Why Sri Lanka needs to address its policy on Vaping

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…

(0)Comments | April 16, 2025 10:58 am

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