Daily FT - April 05, 2025

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In this issue

April 05, 2025

President vows to ensure fair prices for farmers and consumers for agri produce

THE National New Paddy Harvest Festival (Aluth Sahal Mangalya), a traditional annual ceremony of offering the first portion of the freshly harvested Maha season paddy to the sacred Sri Maha Bodhi, was held yesterday under the patronage of President Ranil Wickremesinghe at the historic Sri Maha Bodhi premises in Anuradhapura.

3 mins

Supreme Court rejects Immigration Controller General’s bail application

THE Supreme Court yesterday rejected the bail application filed on behalf of Immigration and Emigration Controller General Harsha Illukpitiya who is currently in remand custody for contempt of Court.

1 min

PM Harini engages in high-level interactions with French Govt. on France visit

ON the sidelines of the International Expert Conference on the World Heritage Property of the Sacred City of Anuradhapura at UNESCO, Prime Minister Dr. Harini Amarasuriya undertook a series of high-level engagements in the bilateral sphere during her official visit to France from 31 March to 2 April.

4 mins

Economic case for Adani's original Mannar wind project rate

A comprehensive analysis of Adani Green Energy's proposed wind power project in Mannar reveals that the initially agreed tariff rate of $ 0.0826 per kWh is economically justified and potentially beneficial for Sri Lanka's energy sector in the long run.

2 mins

Environmentalists urge Govt. to disallow any future wind power projects in biodiverse Mannar Island

SEASONED environmentalists, senior scientists, and legal professionals have reiterated that legal recourse will be sought yet again should another global or local entity seek to resume wind power initiatives in the ecologically sensitive Mannar Island, following withdrawal by India's Adani Group last June.

3 mins

Construction expands further in February

THE Sri Lanka Purchasing Managers' Index for Construction (PMI Construction), as reflected by the Total Activity Index, has expanded further to 55.6 in February 2025. In January, it was 52.9.

1 min

Colombo stock market continues to fall over Trump tariff impact

THE Colombo stock market plunged further yesterday as investors remained negative over the impact to the economy from US President Donald Trump's exorbitant 44% reciprocal tariff.

1 min

JAAF welcomes Govt's swift action on US reciprocal tariff impact

THE Joint Apparel Association Forum (JAAF) yesterday commended the Government for its prompt response in establishing a working group to assess the economic impact of the reciprocal tariff imposed by the US.

1 min

IMF still assessing macroeconomic implications of US tariffs

IMF Managing Director Kristalina Georgieva on Thursday stated that they are still assessing the macroeconomic implications of the announced US tariff measures, whilst acknowledging that the move represents a significant risk to the global outlook at a time of sluggish growth.

1 min

Ranil calls for urgent finalisation of ECTA with India

Former President Ranil Wickremesinghe yesterday underscored the urgency of finalising the proposed economic and Technology Cooperation Agreement (eCTA) between Sri Lanka and India, especially in light of the US reciprocal tariffs imposed on Sri Lanka.

1 min

SL tells US ready to reduce import tariffs

Govt. pledges pro-business reforms to boost trade and investment Expresses concern on recovery efforts amid export exposure and potential slowdown in global demand Stands ready to engage with US administration at earliest opportunity to explore ways to manage trade balance in fair manner

1 min

China announces 34% retaliatory tariffs on US imports

Financial Times, CHINA has announced it will impose additional tariffs of 34 on imports from the US in retaliation for duties of the same amount unveiled by President Donald Trump this week as part of his aggressive trade agenda.

1 min

FTZMA urges Govt. to act swiftly, strategically and wisely

Says members including key players in apparel, tea, rubber industries are bracing for ripple effects of reduced competitiveness in US market

1 min

CRTA calls for urgent action to safeguard jobs, export earnings amid US’s reciprocal tariffs

THE Colombo Rubber Traders’ Association (CRTA) yesterday expressed deep concern about the recent imposition of a 34% blanket tariff by the US on all imports from Sri Lanka, particularly its devastating impact on the country’s natural rubber industry.

1 min

SLASSCOM announces National Ingenuity Awards 2025

THE Sri Lanka Association for Software and Services Companies (SLASSCOM) has announced the launch of the seventh annual SLASSCOM National Ingenuity Awards (SLIA) 2025.

2 mins

Fitch says US tariffs reach levels transforming global economic outlook, raising recession risks

FITCH Ratings yesterday said 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.

2 mins

Gratiaen Trust announces panel of judges for 32nd Gratiaen Prize and H.A.I. Goonetileke Prize for Translation

THE Gratiaen Trust, in association with the John Keells Foundation, has announced the distinguished panel of judges for Sri Lanka's most prestigious literary award for creative writing in English, the 32nd Gratiaen Prize.

3 mins

Make America great again; Make America groan again: Trump's tariff tango

DONALD J. Trump, ever an apprentice showman fired a move that left economists bamboozled and sarong-wearing Sri Lankan villagers scratching their heads; Trump unveiled his latest global trade scheme.

1 min

Impact to Sri Lanka from US tariff revision

ON 02 April 2025, the President of the United States of America (USA), Donald Trump announced a minimum of 10% reciprocal tariff on all imports to the USA effective from 9 April 2025. These new reciprocal tariffs are to be implemented in addition to the tariffs already signed by Donald Trump in March 2025.

2 mins

Strategic pathways for Sri Lanka – navigating US reciprocal tariff regime: Part 2

WITH the enactment of the US Executive Order on Reciprocal Tariffs – unveiled on 2 April 2025 – Sri Lanka finds itself among the nations most heavily impacted, facing an 44% ad valorem duty on all goods exported to the US.

6 mins

95 and at the crease - Chandra Schaffter

CHANDRA Schaffter on April 3, 2025, celebrated a remarkable milestone—95 years of a life well lived. A man of many accomplishments, he has made a lasting impact on Sri Lanka’s sports, business, and corporate landscapes. A true gentleman, he embodies resilience, dedication, and determination in every endeavour he has pursued.

2 mins

Climate risk, insurance, and tourism sector

THE tourism sector forms an important segment of the economy for many countries across the world.

3 mins

Sri Lanka and global trade shock

THE Trump trade shock is a massive blow to the global order.It represents the biggest rupture since the end of the Bretton Woods system in the 1970s. In fact, it could have greater consequences, even inviting greater geoeconomic disintegration and geopolitical conflagration. How does a small country like ours respond to the crisis and what policies should we adopt?

6 mins

Cricket Canada monitors arrest of Captain Kirton

CRICKET Canada says it is \"actively monitoring\" the situation after Captain Nicholas Kirton was arrested in the Caribbean.

1 min

Clifford Cup final 2025 tomorrow

THE final of the Clifford Cup 2025 tomorrow (6 April) between Kandy SC and CR & FC at the Nittawela Rugby Stadium is going to be a blockbuster encounter played in front of a packed stadium.

2 mins

Air Force felicitates top sports achievers

SRI Lanka Air Force Commander and Air Force Sports Council (AFSC) President Air Marshal Bandu Edirisinghe felicitated its top sports achievers for 2024 at a ceremony which took place at their Headquarters recently.

1 min

Science Maroons stamp their class

SCIENCE Maroons edged out the Hisham Abdeen Rugby Football Academy (HARFA) in the Under-14 Cup final of the FlyHi Sports Rugby Academy Tournament 2025 at Havelock Park last weekend.

1 min

Eventistry Sports introduces SLPL – Sri Lanka's first franchise-based padel league

THE Sri Lanka Padel League (SLPL), the country's first-ever franchise-based padel tournament, is officially set to serve up a game-changing season in June 2025.