Daily FT - April 10, 2025
Daily FT - April 10, 2025
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In this issue
April 10, 2025
Hayleys returns to DIMO buying 10.8% for Rs. 1 b from EPF
HAYLEYS PLC has acquired a 10.8% stake in Diesel & Motor Engineering PLC (DIMO) for around Rs. 1 billion.
1 min
President unveils National AntiCorruption Action Plan 2025-2029
PRESIDENT Anura Kumara Disanayake yesterday reaffirmed his administration's commitment to eradicating bribery and corruption, declaring that the Government has taken decisive steps to free anti-corruption efforts from political interference.
2 mins
Trump pauses higher duties or most nations, hikes China rate
US President Donald Trump has said he would pause higher reciprocal tariffs for 90 days on dozens of trade partners, while raising duties on China to 125%.
1 min
Sajith calls for urgent talks with US Senate and House over President Trump's tariffs
OPPOSITION Leader Sajith Premadasa yesterday criticised the Government for its inaction on the growing global trend of reciprocal tariffs, warning that the 44% tariff imposed on Sri Lankan exports by the US could significantly impact the country's economy and debt sustainability.
1 min
ADB's preliminary take on impact of new US tariffs on Sri Lanka
THE Asian Development Bank's (ADB) Colombo-based experts yesterday confirmed that Sri Lanka will be impacted by the high 44% reciprocal tariff imposed by the US Government, but a proper assessment will only be known in a few months.
3 mins
President to convene all-party meeting today to discuss US tariff impact on SL
LEADER of the House Minister Bimal Rathnayake yesterday announced that President Anura Kumara Disanayake will convene an all-party meeting today (10) to discuss the reciprocal tariffs imposed by the US.
1 min
Solar industry protests CEB's forced shutdown of clean energy systems during festive season
THE Solar Industries Association (SIA) has strongly objected to a recent directive by the Ceylon Electricity Board (CEB) mandating the shutdown of solar power systems from 10 to 21 April, a move the industry body says threatens investor confidence and undermines Sri Lanka's renewable energy ambitions.
1 min
UltraTech Cement backs Sri Lanka's first Media Festival as Platinum Sponsor
ULTRATECH Cement Sri Lanka, part of UltraTech Cement Ltd., from the Aditya Birla Group a Fortune 500 company operating in 41 countries with a market cap exceeding $ 112 billion has come forward to sponsor Sri Lanka's first ever Media Festival, organised by the Sri Lanka-India Media Friendship Association (SLIMFA) from 25-26 April at Taj Samudra, Colombo.
1 min
Hayleys Solar introduces exclusive interest-free instalment plans for HNB cardholders
HAYLEYS Solar, the renewable energy arm of Hayleys Fentons Ltd., is offering exclusive interest-free instalment plans for Hatton National Bank (HNB) credit cardholders, making solar energy more accessible and affordable.
1 min
Sri Lanka-Benelux Business Council holds 29th Annual General Meeting
THE Sri Lanka-Benelux Business Council (SLBBC) of The Ceylon Chamber of Commerce conducted its 29th Annual General Meeting on Wednesday, 26 March at the Ceylon Chamber premises.
1 min
New era for tea: Hayleys opens state-of-the-art Kiruwanaganga Tea Factory in Southern region
HAYLEYS Plantations marked a significant milestone with the ceremonial opening of the new Kiruwanaganga Tea Factory, reinforcing its commitment to sustainable innovation and operational excellence in Sri Lanka's plantation sector.
2 mins
Cabinet approves final drafting of amended Community Based Corrections Act
THE Cabinet of Ministers on Monday approved to enact the final draft prepared to revise the law related to amend the Community Based Corrections Act, No. 46 of 1999, marking a significant step in reforming the country’s criminal justice system with a focus on rehabilitation over incarceration.
1 min
Outgoing Auditor General flags State officials’ involvement in corruption
OUTGOING Auditor General Chulantha Wickramaratne made a candid and compelling call for systemic accountability, highlighting the overlooked role of State officials in numerous corruption cases.
1 min
SDB bank launches 2025 edition of 'SDB Ithirum Charithraya' to celebrate Sinhala and Tamil New Year
SDB bank has announced the launch of the 2025 edition of its flagship savings campaign, 'SDB Ithirum Charithraya,' in celebration of the Sinhala and Tamil New Year. This initiative is designed to foster a culture of savings while expressing gratitude to both loyal and new customers with exciting rewards.
1 min
DFCC ONE: Transforming digital banking with convenience, security, and control
DFCC Bank has launched DFCC ONE, a cutting-edge mobile banking application that sets a new benchmark for digital banking in Sri Lanka.
2 mins
SDB bank launches 2025 edition of 'SDB Ithurum Charithraya' to celebrate Sinhala and Tamil New Year
SDB bank has announced the launch of the 2025 edition of its flagship savings campaign, 'SDB Ithurum Charithraya', to celebrate Sinhala and Tamil New Year.
1 min
KPMG-SLID Audit Committee Forum
THE 30th session of the Audit Committee Forum (ACF), titled “A View from the Board: Managing emerging risks in Audit Committees,” was held on Tuesday, 26 March, at Port City Colombo.
4 mins
T-bill auction undersubscribed for third straight week; rates remain static
THE weekly Treasury bill auction went undersubscribed at the first phase for the third consecutive week, with only Rs. 4.695 billion of the Rs. 80 billion amount offered. This was despite total bids received exceeding the offered amount by 1.74 times.
2 mins
EY stresses need for navigating privacy compliance with upcoming legislative changes
EY urges news reporters to handle corporate and public sectors in Sri Lanka to take such institutions.
1 min
Azend Technologies concludes management buyout
AZEND Technologies has announced the successful completion of a management buyout (MBO) on 8 April.
1 min
Hutch sets new standard for retailer recognition with Kahawanu Udanaya Season 1
HUTCH Sri Lanka successfully concluded Season 1 of its much-anticipated retailer rewards initiative, Kahawanu Udanaya. This milestone marks a key moment which is dedicated to recognising, uplifting, and celebrating the commitment of its valued retailer network across the country. More than just a celebration, this initiative is a testament to Hutch’s deep-rooted belief in empowering its retail partners by creating meaningful experiences, fostering outstanding performance, and fostering a culture of shared growth. Through Kahawanu Udanaya, Hutch aims to celebrate retailer partner success while strengthening its nation-wide network as a vital part of its continued journey forward.
2 mins
Sri Lanka strengthens Asia-Pacific ICT ties
AS part of its national drive to accelerate digital transformation and position itself as a key player in the regional technology landscape, Sri Lanka successfully hosted the Asia Pacific ICT Alliance (APICTA) Executive Committee Meeting 2025 recently at the Hilton Colombo.
2 mins
Securatec Lanka wins Hytera's Best Partner Award at End User Summit 2025
SECURATEC Lanka Ltd., a leading provider of security and communication solutions, has been awarded Hytera's Best Partner Award at the Hytera End User Summit 2025, held at Shangri-La Colombo.
1 min
HNB celebrates individual brilliance of its Wholesale Banking staff at the 5th annual “Wholesale Banking Conference 2025”
HNB PLC, Sri Lanka’s premier private sector bank, recently brought together its Wholesale Banking verticals for the fifth edition of its annual “Wholesale Banking Conference 2025”, held under the theme “The Era of Glory”.
1 min
Impact of US reciprocal tariffs and strategic responses from affected nations
In a controversial move on 2 April 2025, President Donald Trump announced the imposition of reciprocal tariffs on imports from approximately 80 countries, again sending shockwaves through the global trade landscape. These tariffs, which exceed a 10% across-the-board tax on all imports to the United States, are designed to address the US’s trade deficit with several major trading partners, including China and the European Union. Trump termed the announcement as “Liberation Day,” asserting that these tariffs were necessary to “rectify the imbalance in trade.”
7 mins
Responding to Trump’s tariffs: Start with The Art of the Deal
In a controversial move on 2 April 2025, President Donald Trump announced the imposition of reciprocal tariffs on imports from approximately 80 countries, sending shockwaves through the global trade landscape.
4 mins
US tariffs and emergence of new world order
A century or so ago the United States championed the creation of the international system as we know it today. In the aftermath of the First World War, President Woodrow Wilson strived to create a League of Nations, which was not supported by the US Senate. The idea for an international organization, that later become the United Nations on 24 October 1945, was initiated at the Quebec Conference in August 1943, when the United States, Great Britain and Russia took the initiative for a declaration on general international organization, based on the principle sovereign equality of all nations. The United States, through its 32nd President Franklin D. Roosevelt became a founding member of the United Nations. Franklin D. Roosevelt took strides to ensure US participation in a postwar international organization\" and to \"convince the public that an international organization was the best means to prevent future wars\" (U.S. Office of the Historian, 1996).
3 mins
Decoding tariff wars – key takeaways from Trump’s 2018 US-China conflict: Part 3
IN my previous two articles published in the Daily FT, we explored the immediate impact of President Donald Trump’s 2025 reciprocal tariff regime on Sri Lanka and potential strategies for navigating this economic turbulence.
5 mins
More honesty from Govt. would do country and public a lot of good
IF stretching the truth was an Olympic sport, the JVP/NPP would win the gold medal and this is not only because of the likes of Nalin Hewage, a Deputy Minister, who claimed a few days ago that Sri Lanka’s Treasury held only $ 20 million when this Government took power, but many others in Government who deem it fit to mislead the public with false facts.
2 mins
Making digital economy a reality this time
DIGITAL transformation of a country or an organisation should necessarily be considered as a journey and not a destination.
7 mins
Decoding the AKD-Modi pact: Geopolitical logic, military alignment, existential danger
INDIAN defence analysts speak of a Defence Pact or Defence Cooperation Pact with Sri Lanka (https://youtube.be/XfiLD6VpsA?si=fsoeXy3Fv5egezn3F).
8 mins
Gendered disinformation: Growing threat to women in local politics in Sri Lanka
AT least 30 women politicians associated with different political parties at the local government level from two districts – Ratnapura and Kegalle – came together to discuss the digital threats they experience in their daily political careers due to their gender.
10 mins
'Beyond Borders': 25 years of shared memory, loss and hope
A poignant and timely literary work chronicling the lives of Sri Lankan migrants in the United Kingdom was launched recently at the Monarch Imperial in Sri Jayewardenepura Kotte.
2 mins
Lankan explorer documents Africa’s elusive Black Leopard for first time
FROM the misty highlands of Sri Lanka to the rugged plains of Kenya, explorer and photographer Senaka Kotagama has spent over five decades chasing the unknown. Now, his life’s work is captured in his debut book, “The World of the Black Leopard”, set for release in June 2025.
2 mins
Kandy SC clinch unbeaten rugby double
KANDY Sports Club, the undisputed kings of Sri Lankan club rugby, completed an extraordinary 2024/25 season by clinching both the League and Clifford Cup knockout titles while remaining unbeaten in all their 14 matches - a feat that has further cemented their legendary status in the island's rugby history.
3 mins
Message from the Chairman of Panel of Judges of Best Management Practices Company Awards 2025 and Technical Chairman of CPM Management Insights Summit 2025
It is both an honor and a privilege to serve as the Chairman of the Panel of Judges for the Best Management Practices Company Awards 2025 (BMPC Awards) and the Technical Chairman of the CPM Management Insights Summit 2025 (MI Summit).
2 mins
Message from the Chief Guest
I extend my heartfelt congratulations on the successful conduct of the Best Management Practices Company Awards 2025.
1 min
Alliance Finance Company Honoured with Dual Accolades at BMPC Awards 2025 for Sustainability and Business Excellence
Alliance Finance Company PLC (AFC), Sri Lanka's oldest non-banking financial institution, proudly emerged among the top companies at the Best Management Practices Company (BMPC) Awards 2025 held recently, demonstrating its commitment to innovation, sustainable growth, and customer-centric practices.
2 mins
Brown Shines with Double Win
Reaffirming its position yet again as a leader in corporate excellence, Browns & Company PLC was honoured at the prestigious Best Management Practices Company Awards 2025, Conducted by the Institute of Chartered Professional Managers of Sri Lanka (CPM), the conglomerate was recognised with double accolades under 'Twenty Outstanding Companies' and as the winner in the 'Trading & Manufacturing' category held at the Monarch Imperial recently.
1 min
Union Chemicals Lanka PLC, “The Winner" in the Chemical, Ceramic and Glass (Manufacturing) Category at the Best Management Practices Company Awards 2025
Union Chemicals Lanka PLC (UCLL) has been awarded the prestigious title of \"The Winner\" in the Chemical, Ceramic and Glass (Manufacturing) Category at the Best Management Practices Company Awards 2025, organized by the Institute of Chartered Professional Managers of Sri Lanka.
3 mins
Hayleys Fabric PLC recognised for its Best Management Practices
Awards won ■Winner - Knitted Fabric Category ■Ranked among Best 20 companies
1 min
Advantis - Project Logistics Recognised for Excellence at the Best Management Practices Company Awards 2025
Advantis Project Logistics, a subsidiary of Hayleys Advantis Limited, the transportation and logistics arm of Hayleys PLC, was named the winner in the Transport, Logistics and Shipping category at the Best Management Practices Company Awards 2025, organised by the Chartered Professional Managers of Sri Lanka.
3 mins
Sanasa Life Insurance scores high with second consecutive win at BMPC Awards
THE \"Best Management Practices Company Awards,\" hosted annually by the Institute of Chartered Professional Managers of Sri Lanka, acknowledges organizations for their implementation of outstanding management practices that drive organizational growth and success.
7 mins
Driving Excellence: JAT Holdings Honoured at Best Management Practices Awards
JAT Holdings PLC has been named the Winner in the Manufacturing - Other Category at the prestigious Best Management Practices Company Awards 2025, organised by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka). This recognition highlights JAT Holdings' commitment to operational excellence, setting new benchmarks in innovation, sustainability, and leadership.
1 min
Daily FT Newspaper Description:
Publisher: Wijeya Newspapers Ltd.
Category: Newspaper
Language: English
Frequency: Daily
Daily FT:National English Daily:authoritative market and financial news for business www.ft.lk
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