Daily FT - April 07, 2025

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In this issue

April 07, 2025

MDMK leader Vaiko condemns Indo-Lanka defence cooperation

MARUMALARCHI Dravida Munnetra Kazhagam (MDMK) General Secretary Vaiko on Sunday condemned the Memorandum of Understanding (MoU) signed between India and Sri Lanka for defence cooperation during Prime Minister Narendra Modi's visit to the neighbouring island nation.

1 min

Kapruka sets up UK subsidiary to expand cross-border deals

KAPRUKA Holdings PLC has incorporated a fully-owned subsidiary named Kapruka Global UK to expand its cross-border operations and have a strategic presence in the United Kingdom.

1 min

NSA for tea gains in March but down YTD

THE National tea Sales Average (NSA) in March has recorded Rs. 1,183.76 ($ 4.02), recording an increase of Rs. 14.83 and $ 0.06 in comparison with February 2025.

1 min

CNCI urges Govt. to take immediate steps on high US tariff

CEYLON National Chamber of Industries (CNCI) has urged the Government to take immediate steps to resolve crisis emanating from the imposition of high 44% tariff by the US President Donald Trump on Sri Lankan products.

1 min

Biz confidence dips

IN an exclusive release to the Daily FT, leading business magazine LMD reports that \"business confidence has dropped a few rungs after briefly matching its all-time high.\"

1 min

Sri Lanka needs strategic rethink amid crushing US tariffs: Bingumal

Opines country should adopt 'extreme measures' to counteract looming economic hit I Lists three-point strategy buy more from US at lower import tariff while managing other bilateral partners, diversify export markets with UK, Europe and Asia being target markets, incentivise export sector along with hard negotiation with IMF I Observes opportunity in emerging regional dynamics, with South-South trade growing at over 20% in global trade where Sri Lanka can reposition itself Expresses optimism that Sri Lanka will find its way

1 min

Seafood exporters write to President AKD; urges to renegotiate high tariff with US

SEAFOOD Exporters' Association of Sri Lanka has urged President Anura Kumara Disanayake to immediately negotiate with the US Government to reduce the high 44% reciprocal tariff.

2 mins

Indo-Lanka ties reach new high

TIES between Sri Lanka and India have reached a new high following the successful visit by Prime Minister Narendra Modi who reinforced his country's commitment to strengthen relations aided by additional support.

5 mins

Modi expresses confidence in times to come Indo-Lanka partnership will reach new heights

FOLLOWING is the speech by Indian Prime Minister Narendra Modi during the joint session with President Anura Kumara Dissanayake on Saturday.

3 mins

Sri Lanka and India on a transformative path: President AKD

FOLLOWING is the speech by Indian Prime Minister Narendra Modi during the joint session with President Anura Kumara Dissanayake on Saturday.

5 mins

Nestlé brands Nescafé and Maggi win at SLIM-Kantar People's Awards 2025

NESTLÉ's household favourites emerged victorious once again at the SLIM-Kantar People's Awards 2025 taking home two awards.

1 min

Market Research Society of Sri Lanka appoints new Committee for 2025

THE Market Research Society of Sri Lanka (MRSSL) recently held its 12th Annual General Meeting, where Suthaharan Perampalam was elected as the President for 2025.

1 min

Anchor recognised as SLIM-Kantar People's Dairy Brand of the Year 2025

ANCHOR, was recognised as the recent SLIM-Kantar People's Dairy Brand of the Year 2025, reinforcing its strong connection with consumers across the country.

1 min

Honouring excellence in capital markets: CFA Society Sri Lanka’s hallmark event on 24 June

THE CFA Society Sri Lanka has announced that its signature event, the annual CFA Society Sri Lanka Capital Market Awards, now in its 12th year, is scheduled to be held on Tuesday, 24 June 2025, at Cinnamon Life at City of Dreams.

2 mins

Liquidity jumps to 4-year high; rupee weakens

Overall market activity and transaction volumes were seen at healthy levels during the week.

1 min

HNB champions financial inclusivity via eliminated merchant commission on LankaQR

IN a strategic move aimed at in a strategic move aimed at accelerating the adoption of digital payments, Hatton National Bank (HNB) has announced the elimination of Merchant Discount Rates (MDR) for LankaQR transactions among HNB associated merchants who are enabled to accept LankaQR payments.

2 mins

MillenniumIT ESP expands global footprint with strategic entry into Australia

MILLENNIUMIT ESP, a leading technology solutions provider, has announced its expansion into the Australian market, marking its 6th international location.

1 min

Canon celebrates 22nd consecutive year of leadership in global interchangeable-lens digital camera market

METROPOLITAN Technologies Ltd., the sole authorised distributor for Canon in Sri Lanka, is celebrating Canon Inc.’s remarkable achievement in the world of imaging.

2 mins

Global leader in biz communication solutions IceWarp expands into Sri Lanka

ICEWARP, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing its European expertise in email and collaboration solutions to support the country’s evolving business landscape.

2 mins

Axiata Group’s security transformation with H One

IN an era where cyber threats are becoming increasingly sophisticated, organisations need to be aligned with proactive security capabilities.

3 mins

Kaspersky wins nine AV-Test Best Awards for outstanding cybersecurity performance

KASPERSKY said it continues to prove excellence in cybersecurity, receiving nine prestigious AV-TEST Best Awards for both consumer and business products.

2 mins

Chrissworld achieves ISO 9001:2015 certification

CHRISSWORLD PLC, a leading Third-Party Logistics (3PL) provider in Sri Lanka, has announced its successful certification of the ISO 9001:2015, awarded by Bureau Veritas – Sri Lanka.

1 min

Eastern Car Liner resumes RoRo vessel calls to Sri Lanka

EASTERN Car Liner (ECL) is set to bring its Roll-on/ Roll-off (RoRo) vessels back to Sri Lanka this April, starting with the arrival of the vessel Positive Pioneer at Hambantota Port on 9 April.

1 min

Freight Forwarder Network to hold 2025 AGM in Colombo this week

Members across 48 countries will converge in Colombo to connect and collaborate within logistics industry

4 mins

Indo-Lanka relations on the right track but with key caveats

THE visit of Indian Prime Minister Narendra Modi is a significant development in the vital relationship between the two countries. This visit, coming soon after President Anura Disanayake’s own first foreign trip to New Delhi, symbolises the mutual recognition of the strategic and economic importance of this bilateral partnership.

2 mins

A via media view of press freedom under the NPP

WHILE the buzz in media circles last week was about sensitive investigative journalist Chamuditha Wijedasa’s US Secretary of State’s International Women of Courage Award 2024, the slow burn in the same arena was still over a baffling lack of progress in emblematic media cases demanding justice for slain scribes.

4 mins

Trump(dis)order is to hit Sri Lanka very badly with limited options available

IN 1850, the French economist and statesman, Frederic Bastiat, distinguished a bad economist from a good economist by looking at how he will consider the consequences of an economic policy. He said that a bad economist will consider only the consequences that can be seen immediately, and a good economist will consider both for immediate consequences and those that can be foreseen. I

6 mins

What Sri Lanka can learn from Trump’s tariff war: Time to rebuild from within

EVEN our Vesak lanterns are made in China!

2 mins

Know your local electoral system and implications

THE Local Government Electoral Reforms Act No. 17 of 2017 introduced a new Mixed Member Proportional (MMP) system for elections at the local level in Sri Lanka but also in Asia.

5 mins

Adani saga appears to have raised its head again

THE Adani saga appears to have raised its head again. A recent headline news claimed that Sri Lanka has lost $ 1,00,000,000 for FDI-direct investment. This immediately raises the question, to what extent Sri Lanka is prepared to demean its sovereignty and national pride, for the so-called benefits of Foreign Direct Investment.