Daily FT - April 02, 2025

Go Unlimited with Magzter GOLD

Read Daily FT along with 9,000+ other magazines & newspapers with just one subscription View catalog

1 Month $14.99

1 Year~~$149.99~~ $74.99

$6/month

Save 50%

Hurry, Offer Ends in 9 Days

(OR)

Subscribe only to Daily FT

1 Year $17.99

Buy this issue $0.99

Gift Daily FT

7-Day No Questions
Asked Refund Policy

ⓘ

Digital Subscription
Instant Access

ⓘ

Verified Secure
Payment

ⓘ

In this issue

April 02, 2025

Senthilverl ups Lankem Ceylon stake to over 10%

HIGH net worth but low profile investor Dr. T. Senthilverl, has crossed the 10% stake mark at Lankem Ceylon PLC.

1 min

LOLC exits from Commercial Insurance Brokers for Rs. 333 m

LOLC Finance Ltd. on Monday exited from Commercial Insurance Brokers Ltd. (CIBL) for Rs. 333 million.

1 min

Carson Group sells Equity Hotels for Rs. 243.5 m to Dedigama Group

CARSON Cumberbatch PLC Group/Bukit Darah PLC's subsidiary, Pegasus Hotels of Ceylon PLC has disposed of its entire shareholding in Equity Hotels Ltd., to Lavendish Leisure Hotels and Resorts Ltd., for Rs. 243.5 million.

1 min

Stock market begins April positively

THE Colombo stock market yesterday began the holidays-filled April on a positive note, lifting the morale of investors who have been concerned by back-to-back losses during the past two months. The benchmark ASPI gained by over 119 points or 0.76% and the active S&P SL20 by 0.6%. During February and March, the ASPI had lost 4% each.

1 min

Q1 tourist arrivals soar to new high in 2025

SRI Lanka's tourism sector is riding a wave of growth in 2025, drawing over 722,000 visitors at the end of first quarter, outpacing the performance for the same period in the industry's best year of 2018 but lagging behind record haul of 740,600 in 2019.

1 min

Raju says long-awaited triumph for Asia Capital via Rs. 783 m sale of minority stakes

ASIA Capital PLC Managing Director Raju Radha described the receipt of Rs. 783 million via the sale of minority stakes in three Group companies was a \"long-awaited triumph\" for the company.

1 min

VIAL blames Finance Ministry for delays in imports

The Vehicle Importers' Association Lanka (VIAL) has raised serious concerns over delays and mismanagement in vehicle imports, blaming the Finance Ministry for making wrong decisions that have led to unprecedented issues in the industry.

1 min

Renewable energy in peril as tariff shake-up threatens billions in losses

THE Federation of Renewable Energy Developers (FRED) yesterday sounded the alarm over a looming crisis sparked by the proposed new tariff system awaiting Cabinet approval.

2 mins

Special medical team ready from Sri Lanka to assist Myanmar: Health Minister

HEALTH Minister Dr. Nalinda Jayatissa on Monday announced that Sri Lanka is prepared to dispatch a special medical team to Myanmar to assist those affected by the recent earthquake.

1 min

Court of Appeal orders temporary suspension of Election activities in several LG bodies till today

THE Court of Appeal yesterday ordered Returning Officers to suspend activities related to conducting Local Government (LG) polls till 2 April in areas where petitions have been filed challenging the rejection of nomination papers.

1 min

MP Chamara Sampath further remanded till 8 April

THE Colombo Chief Magistrate's Court yesterday further remanded Badulla District MP Chamara Sampath Dassanayake till 8 April in connection with one of three corruption allegations levelled against him.

1 min

Sri Lanka and Switzerland strengthen bilateral trade via collaborations

Swiss Ambassador Dr. Siri Walt commends Sri Lanka's Export Development Plan, recognising its potential to enhance export capacity, diversify market reach, and align with evolving global trade trends

2 mins

Enhanced AML controls and law reform urgent priority for Sri Lanka

THE Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. It sets international standards that aim to prevent these illegal activities and the harm they cause to society.

2 mins

Dhammika Fernando re-elected as FTZMA Chairman; lists key suggestions of private sector

FREE Trade Zone Manufacturers Association conducted its 44th Annual General Meeting at Barnes, Jetwing Colombo on 28th March with Tropical Findings Ltd. Director Dhammika Fernando re-elected as the Chairman and Filotex Lanka Ltd. Director M H Z.M. Marzook was elected as the new Secretary for the period 2025/2026.

3 mins

Amana Life Insurance delivers exceptional returns to policyholders in 2024

Amana Takaful Life Insurance PLC has once again demonstrated its commitment to delivering unparalleled financial security and growth, delivering attractive returns for long-term insurance, Amana.

1 min

Lacklustre environment in bond markets ahead of weekly bills auction

Rupee appreciates marginally

1 min

ComBank wins five Golds including overall winner award at LankaPay Technnovation Awards

THE Commercial Bank of Ceylon won five Gold awards at the LankaPay Technnovation Awards 2025, emphatically underlining the bank’s leader-ship in payment technology innovation in Sri Lanka.

2 mins

Asia Capital strengthens Board with 3 INE Directors

ASIA Capital PLC has announced the appointment of three distinguished professionals, Adrian Perera, Bradley Emerson, and Ganesh Shanmugam, as Independent Non-Executive Directors to its Board.

1 min

LOLC Technologies unveils ‘OASYS^’ to revolutionise business process automation

SETTING a new benchmark in business process orchestration and automation, LOLC Technologies, a fully owned subsidiary of the LOLC Group, recently launched its revolutionary solution OASYS to its partner network through Sanfer Technologies.

2 mins

Agility Innovation leads digital revolution

IN an era where digital transformation defines success, Agility Innovation stands at the forefront, seamlessly merging technological advancement with business excellence.

3 mins

Lenovo launches 14th Gen Intel desktop

LENOVO, in collaboration with IT Gallery Computers Ltd., recently hosted an exclusive event in Sri Lanka, bringing together channel partners and valued customers for an immersive experience in the latest advancements in computing.

2 mins

Huawei named Customers’ Choice in 2025 Gartner Peer Insights Voice of the Customer

HUAWEI was named a Customers’ Choice in 2025 Gartner Peer Insights Voice of the Customer for Enterprise Backup and Recovery Software Solutions.

1 min

Sala Enterprises launches first-ever AI computing device at INFOTEL exhibition

SALA Enterprises, a pioneer in Information and Communication Technology (ICT) innovation in Sri Lanka for over three decades, introduced Sri Lanka's first Artificial Intelligence (AI) computing device at the INFOTEL AI mouse, at the INFOTEL exhibition.

2 mins

Recruitment of graduates to public service: Another NPP U-turn

IMPLEMENTING policies by a political administration that stand in complete contrast with the views and stances they stood for while in the Opposition is part and parcel in the opportunistic code of politics.

3 mins

Gender in economic sphere: Some key issues for developing countries

THIS year marks 30 years after the Beijing Declaration and Platform for Action (FLFP) at the Fourth World Conference on Women that laid out broad frameworks as well as concrete objectives for countries the world over to ensure greater equality and opportunities for women. This was a significant recognition of the gross inequalities and severe discrimination that women face the world over.

6 mins

NMRA should quit playing games with our hearts

CONTROVERSIES over pharmaceutical pricing has recently received a lot of media attention, but this is with more questions than answers.

4 mins

Selective journalism and the illusion of truth

How ABC’s ‘Ethical Tea’ report misrepresents Sri Lanka’s tea industry

8 mins

Verité Research, “fact checking” and protecting interests of financial elites in Sri Lanka

THE Debt Restructuring Agreement (DRA) entered into by the National People’s Power Government is disastrous for Sri Lanka. This is a fact that has been confirmed repeatedly by globally reputed economists such as Jayatil Ghosh, C.P. Chandrasekhar, Changar Bouge, former Staff Economist of the United States Department of the Treasury Brad Sester, as well as Sri Lankan economists such as Dhanusha Gihan Pathirana, Kalpa Rajapakse and Amali Wedagedera.

3 mins

Havies and CR in a do-die battle today

The second semi-final of the 2025 Clifford Cup Knock out rugby will take place today (2 April) when havelock Sports Club takes on CR and FC at havelock Park.

1 min

Colombo Basketball Club heads to Chennai for SABA showdown

COLOMBO Basketball Club jetted off to Chennai yesterday evening, ready to stake their claim at the SABA Club Championship, South Asia's premier club-level basketball showdown, set to unfold in the bustling South Indian city.

1 min

Kandy beat CH to enter Clifford Cup knockout final

KANDY Sports Club booked their final berth in the Clifford Cup 2025 Knock-out Rugby Tournament with a convincing 38/21 win over CH and FC in the First semi-final which took place at the Nittawela Rugby Stadium yesterday.

1 min

Asia Securities Group Principal Sponsor of Trinity Rugby

TRINITY College and The Rugby Scrummage has once again set the stage for a fabulous rugby season in 2025, backed by a strong lineup of sponsors supporting the school's sporting excellence which they commenced in 1906.

1 min

MAS Athlete Training Academy supports Sri Lanka's rising athletes

THE MAS Athlete Training Academy, a key initiative of MAS Holdings, reaffirmed its commitment to supporting Sri Lanka's sporting talent through a special sponsorship ceremony held today at the Sri Lanka Olympic House.

1 min

Coaching staff appointed for Asia Rugby Top 4 qualifier

SPORTS Director General Dr. Shemal Perera has appointed the coaching panel for the upcoming encounter against Malaysia in the Asia Rugby Top 4 qualification match which will take place at the Race Course ground on 19 April.