Daily FT - April 17, 2025

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In this issue

April 17, 2025

CSE begins positively post-Avurudu amidst low turnover

THE Colombo stock market was positive on the first day of trading yesterday after the Sinhala-Tamil New Year holidays amidst low turnover.

2 mins

Small hydro developers slam CEB shutdown, demands compensation

Warns of power crisis and financial fallout Claims CEB's decision stems from its failures in grid modernisation, lack of investment in essential technologies, advanced weather forecasting and lack of effective system planning.

3 mins

Govt. to send high-level delegation to US over tariff talks

A high-level delegation will travel to the US next week to hold direct discussions with the US Trade Representative following Trump administration's decision to impose a steep 44% tariff on Sri Lankan exports.

1 min

Ranil warns of massive job losses over US tariffs

@ Describes situation as an economic emergency’ & Calls on Govt. to act swiftly and inform public about measures taken

1 min

ENHANCING HEALTHCARE EQUITY: PRIVATE SECTOR INTRODUCES AFFORDABLE LIVER TRANSPLANTS

Kings Hospital Colombo has successfully carried out a liver transplant in the private healthcare sector, unfamiliar environments and language barriers.

1 min

WindForce completes Rs. 89 m rooftop solar project in Maldives

WINDFORCE has completed the 366 KWP rooftop solar PV power project at Cocoon Island, Maldives as an Engineering, Procurement, and Construction (EPC) contract.

1 min

Sri Lanka gears up for Global Franchise Forum 2025, featuring top international brands

THE Global Franchise Forum (GFF) is set to host its Sri Lanka edition on 27 April at the Sheraton Hotel, Colombo.

2 mins

Workers' remittances records highest-ever March inflows

WORKERS' remittances hit a record high inflow for the month of March, reaching $ 693.3 million the highest in 75 months.

1 min

Tourism earnings top $ 1 b in Q1

SRI Lanka's tourism industry has reflected a robust upturn, earning over $ 1 billion during the first quarter. It signifies the remarkable recovery and potential growth in the industry, showcasing its resilience and attractiveness as a tourist destination.

1 min

Presidential Secretariat staff resume duties post-Avurudu

THE staff of the Presidential Secretariat yesterday offically resumed duties, following the Sinhala and Tamil New Year, under the leadership of Secretary to the President Dr Nandika Sanath Kumanayake at the Presidential Secretariat.

1 min

State oil-anointing ceremony for Avurudu held in Kandy

THE official State ceremony for the traditional oil-anointing ritual of the Sinhala and Tamil New Year was held yesterday at the Natha Devalaya grounds, located within the premises of the Temple of the Sacred Tooth Relic in Kandy.

2 mins

Several schools in Kandy to remain closed next week

THE Education Secretary of the Central province yesterday announced that several schools in the Kandy area are to be closed in view of the special exposition of the Sacred Tooth Relic at the Sri Dalada Maligawa.

1 min

Pillayan detained over abduction case, not Easter attacks: Gammanpila

FORMER MP Udaya Gammanpila yesterday strongly denied claims that former State Minister Sivanesathurai Chandrakanthan, also known as “Pillayan” was arrested over the 2019 Easter Sunday attacks.

1 min

LAUGFS Lubricants appoints international motorsport icon Dilantha Malagamuwa as Brand Ambassador

LAUGES Lubricants, a proud subsidiary of the LAUGFS Group, is thrilled to announce the appointment of Sri Lankas most celebrated motorsport icon, Dilantha Malagamuwa, as its offical Brand Ambassador.

1 min

Sri Lanka German Business Council of Ceylon Chamber hosts Members’ Day

THE Sri Lanka-German Business Council (SLGBC) of The Ceylon Chamber of Commerce hosted its Members’ Day at Hilton Colombo Residences recently, bringing together industry leaders, diplomats, and business professionals to celebrate and enhance trade relations between Sri Lanka and Germany.

1 min

Baurs elevates Daniela Munasinghe as Director across three of its subsidiaries

A. Baur & Co. Ltd., also known as Baurs, a leading conglomerate with diversified business interests in Sri Lanka, recently announced the appointment of Daniela J. Munasinghe as Director of its three subsidiaries, namely Baurs Airservices, Swiss Hotel Management Academy (SHMA), and Baurs Travel.

1 min

"Panadol Suwa Sahana Mehewara" steps forward to care for devotees attending Sacred Tooth Relic exposition

PANADOL, the trusted pain relief partner for Sri Lankans from the 1950s, has specially developed the \"Panadol Suwa Sahana Mehewara\" initiative to care for devotees attending the upcoming Sacred Tooth Relic exposition at Sri Dalada Maligawa in Kandy, scheduled from 18 to 27 April.

1 min

Eight priority trade and competitiveness reforms for Sri Lanka

IT is now clear that global trade is entering a period of turmoil that is likely to be more acute and challenging than during the Covid-19 pandemic five years ago.

2 mins

EDB organises stakeholder consultation to address impact of US tariff hikes on Sri Lankan exports

THE Sri Lanka Export Development Board (EDB) recently organised a stakeholder consultation to discuss strategies for mitigating the potential adverse impact of the newly imposed 44% reciprocal tariff by the US on Sri Lankan exports.

1 min

Lankan ICT companies to showcase innovation at Japan IT Week 2025 through EDB-JICA partnership

10 leading Sri Lankan ICT companies will be showcasing their products and solutions at Japan IT Week (Spring) 2025, one of Asia's most prominent technology exhibitions. The event is scheduled to take place from 23 to 25 April at Tokyo Big Sight, Japan.

3 mins

Tea industry challenges: From fertiliser fiasco to abolishing SVAT – a slow demise?

Introduction of SVAT - THE Suspended VAT (SVAT) scheme was introduced in April 2011 to support exporters, including the tea sector, by addressing the significant delays in VAT refunds under the previous system. However, the tea industry was formally brought under the VAT regime starting from 1 January 2024.

4 mins

Tariff tensions and creative solutions: Rethinking Sri Lanka’s export future

US President Donald Trump imposed a 44% tariff on Sri Lankan goods, citing it as a reciprocal measure to the 88% in taxes and trade barriers imposed by Sri Lanka on US products (Anyway again US President announced that he is suspending the ‘reciprocal’ tariffs imposed on Sri Lanka and several other countries).

4 mins

Economists action plan on US tariffs

SRI Lanka exported $ 3 billion to the United States last year—nearly a quarter of our total exports.

3 mins

Impact of recent income tax changes on individuals with foreign employment income

THE Inland Revenue Department has recently issued updated Advance Personal Income Tax (APIT) tables, which are crucial for both employers and employees to understand.

5 mins

CEB’s solar allergy during solar festival

WHEN the islanders are celebrating the traditional solar festival, the CEB has appealed to all rooftop solar system owners across the country to voluntarily switch off their systems during daytime hours from 13 to 21 April. CEB Media Spokesman Eng. Dhammike Wimalaratne had explained that the request was made due to the extended holiday period and prevailing sunny weather.

2 mins

To trump Trump’s tariffs

developed or developing world the mantra that economic salvation to eradicate poverty and move out of underdevelopment lay in exploiting the principle of comparative advantage developing economies possess in areas of production and exchanging those products in the international market for those which would have cost them more to produce domestically.

4 mins

Modi’s men: AKD campaigns flat-out; confused Opposition holds back

‘Put not your trust in princes...’ — Psalms, 146:3, The Bible ‘Is the sword unused in war, to be used for hacking jackfruit?’ - Sinhala folk saying

9 mins

UAE Rugby Federation referee Jaco to officiate SL vs Malaysia

THE Asia Rugby Emirates Men's Championship Playoff 2025 between Sri Lanka and Malaysia will kick off on 19 April at the Racecourse Ground, with highly respected South Africa-born referee, now with the UAE Rugby Federation (UAERF), Jaco De Wit, officiating as the Match Referee for this event.

1 min

AIA AquaFest 2025, the ultimate water sports showdown aimed at inspiring Sri Lankans to 'Rethink Healthy'

AIA Aquafest 2025, Sri Lanka's largest and most exhilarating water sports festival spearheaded by AIA Insurance in collaboration with Lankify, was held recently at Galle Face, Colombo. The adrenaline-packed championship featured a diverse range of water sports activities, including sailing, jet skiing, dragon boats and ocean kayaking, against the backdrop of Colombo's stunning coastline, attracting hundreds of local and international water sports enthusiasts.

2 mins

Nigel Ratwatte to lead Sri Lanka against Malaysia

NIGEL Ratwatte, one of Sri Lanka's most knowledgeable and artful rugby players will lead the Sri Lankan XV's against the Malaysian outfit on 19 April at the Race Course ground in Colombo.

1 min

Sri Lanka 'A' make head start in UAE 'A' team Tri-series

Defeat Ireland Wolves, Afghanistan 'A'

1 min

Reshan at Nick Faldo Asia Finals in Vietnam

RESHAN Algama will represent Sri Lanka at the prestigious Nick Faldo Asia Finals 2025 in Vietnam, having received a special Wild Card entry based on his outstanding performances in tournaments through 2024 and early 2025.