Daily FT - April 18, 2025

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In this issue

April 18, 2025

Colombo stock market ends week with losses

THE Colombo stock market yesterday ended the week with losses, amidst relatively low investor activity.

2 mins

Sri Lanka unveils its future-focused pavilion at Expo 2025 Osaka

SRI Lanka officially inaugurated its pavilion at Expo 2025 Osaka, joining over 150 participating countries under the global theme \"Designing Future Society for Our Lives\".

1 min

First Capital Treasuries to raise Rs. 3 b via debentures

FIRST Capital Treasuries PLC is to raise Rs. 3 billion via a listed debenture issue.

1 min

Tea exporters urge tariff-free access to US market

THE Tea Exporters Association of Sri Lanka (TEA) has raised concerns over the recently imposed reciprocal tariffs by the US, warning that the country's lucrative tea exports to the US market could face serious setbacks unless the issue is resolved within the 90-day grace period.

2 mins

IRD introduces major changes to VAT law to boost compliance

VAT will be applied to digital services provided by non-resident entities via e-platforms from 1 October

1 min

SL welcomes over 93,000 tourists in 1H of April, pushing YTD arrivals to over 816,000

First 15 days of April draws 93,915 visitors, marking 13.42%. YoY increase in arrivals YTD arrivals up by 14%. YoY to 816,191 tourists India, UK and Russia emerge as top source markets in 1H of April.

1 min

Gold prices hit record high

GOLD prices in Sri Lanka yesterday saw a sharp increase, rising by Rs. 22,000 in just one day.

1 min

IMF lauds strong recovery in SL, cautions against global uncertainty

THE International Monetary Fund (IMF) last week lauded the continuous economic recovery by Sri Lanka under its Extended Fund Facility (EFF) with strong growth, easing inflation and improved reserves, whilst also cautioning on rising global uncertainty, fiscal constraint and unfinished reforms pose significant risks to sustaining these gains underscoring the need for steadfast policy implementation and targeted support for the vulnerable.

2 mins

First Capital Treasuries to raise Rs. 3 b via debentures

FIRST Capital Treasuries PLC is to raise Rs. 3 billion via a listed debenture issue.

1 min

Economy robust in March

THE country's manufacturing and services sectors in March have expanded as per the Purchasing Managers' Index (PMI), its compiler the Central Bank (CBSL) said.

1 min

"Siri Dalada Vandanawa" commences today

THE “Siri Dalada Vandanawa,” a special exposition of the Sacred Tooth Relic of Buddha at the Sri Dalada Maligawa will commence today (18) at 12:30 noon, after 16years.

1 min

EC revises postal voting dates for LG polls

THE Elections Commission yesterday announced revised dates for the postal voting for the upcoming Local Government Elections.

1 min

President pledges to resolve Sri Lanka-India fishing dispute

PRESIDENT Anura Kumara Dissanayake revealed yesterday that the longstanding fishing dispute between Sri Lanka and India was a key topic during recent high level talks with Indian Prime Minister Narendra Modi.

1 min

European Union Ambassador delivers powerful message at Pathfinder Roundtable

THE Pathfinder Foundation held an Ambassador’s Roundtable, featuring Ambassador Carmen Moreno of the European Union, who made remarks on “EU-Sri Lanka: Partnership for Growth.” Representatives from the Ministry of Foreign Affairs, think tanks, the European Chamber of Commerce, and the print and electronic media attended the event.

2 mins

Cargills Bank issues update on cyber security incident and ongoing protective measures

CARGILLS Bank has issued a further update on the actions taken following the cyber security incident, in addition to its public notices issued on 21 March, 25 March and 2 April 2025.

1 min

DFCC Bank leads charge in sustainability with Rs. 500 m investment in AFC's Green Bond

FURTHER reinforcing its leadership in sustainable finance, DFCC Bank has become the largest investor in Alliance Finance Company PLC's (AFC) Green Bond Issue, investing Rs. 500 million-half of the total Rs. 1 billion issuance.

1 min

Sanity check on more handouts

PRESIDENT Anura Kumara Dissanayake has hit the election trail in full swing. Yesterday he announced at an election rally in Matara that the Government will extend the ‘aswesuma’ social welfare program to include an additional 400,000 families from June onwards while also promising 30,000 new State sector jobs.

3 mins

Resetting trade ties: 90-day roadmap to resolve US-Sri Lanka tariff imbalances

Sri Lanka’s broader economic reform agenda should be synchronised with the United States’ efforts to widen trade into a wider effort to enhance national competitiveness. Modernising import licensing procedures, digitising customs exemptions, and ensuring transparent trading environment — qualities essential for restoring investor confidence.

1 min

Easter Sunday six years on: Still waiting for truth, justice, and reconciliation

As the sixth commemoration of the tragic Easter Sunday attacks draws near, Sri Lanka finds itself still entangled in a web of unanswered questions, delayed prosecutions, political manoeuvring, and communal wounds that have yet to heal.

3 mins

AKD's 'double pocket' diplomacy?

THE Defence Cooperation Memorandum of Understanding (MoU), exchanged when PM Narendra Modi visited Sri Lanka has become a thorn in the flesh of several anti AKD Government spokespersons.

8 mins

Sri Lanka as a trading outpost

THIS piece is penned in the context of global uncertainty around trade.

6 mins

TMVP leader Pillaiyaan’s arrest, 2019 Easter bombings and Azad Maulana’s revelations

THE advent of the Local Authority elections in 2025 saw the emergence of a new electoral alliance in Eastern Sri Lanka. The Tamil Makkal Viduthalai Puligal (TMVP) led by Sivanesathurai Chandrakanthan (spelled as Santhirakanthan also) alias Pillaiyan and the Thamil Makkal Thesiya Kootani alias Vinayagamoorthy Muraliharan alias “Cdr. Karuna joined the new alliance.

8 mins

Fits Retail and Abans unveil exclusive Delonghi premium coffee experience

In a groundbreaking collaboration between Fits Retail and Abans PLC to introduce iconic Delonghi coffee machines at two of Colombo’s most prestigious locations: Abans Elite, Colombo 3 and Abans Havelock City.

1 min

Markdown Mania 2025 by trio of Radisson Hotels conclude with resounding success

RADISSON Hotel Colombo, Radisson Hotel Kandy, and Radisson Blu Resort Galle announced the triumphant conclusion of Markdown Mania 2025, held at the World Trade Centre in March.

1 min

Nations Trust Bank Private Banking unveils sixth edition of Masterpieces – Art Rotation

NATIONS Trust Bank Private Banking announced the sixth edition of the highly anticipated, Masterpieces – Art Rotation, a premier display of Sri Lankan art. This edition marks a significant milestone, as for the first time it expands beyond paintings to include sculptures, in order to redefine Sri Lanka’s artistic landscape, solidifying its status as a valuable investment.

1 min

Rugby selectors pick final 25 players for Malaysian encounter

SRI Lanka national selectors picked the final 25 players for the Malaysian encounter which will take place at the Race Course ground on 19 April.

1 min

US sues Maine over Trump executive order on transgender athletes

THE Trump administration sued Maine on Wednesday, escalating its conflict with the state for refusing to ban transgender athletes from participating in women's and girls'sports.

1 min

French Open to honour Nadal at ceremony

RAFAEL Nadal will be honoured in a ceremony at this year's French Open, says tournament director Amelie Mauresmo.

1 min

JXG continues as title sponsor for Battle of the Golden Blues for second consecutive year

JXG (Janashakthi Group) continues its commitment to youth and sports by returning as the title sponsor of the Battle of the Golden Blues for the second consecutive year.