Daily FT - April 22, 2025
Daily FT - April 22, 2025
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In this issue
April 22, 2025
Apparel industry urges swift policy action ahead of EU's stricter GSP+ review
AS Sri Lanka's export economy continues to navigate turbulent global trade currents, the apparel industry is intensifying its focus on retaining preferential access to the EU market under the Generalised Scheme of Preferences Plus (GSP+).
1 min
Pope Francis dies aged 88 day after Easter
CNN: Pope Francis, a voice for the poor who overcame fierce resistance to reshape the Catholic Church, died on Easter Monday at the age of 88, the Vatican announced.
1 min
Stitching through storms
Sri Lanka Apparel Exporters Association Chairperson Rajitha Jayasuriya affirms no mass order cancellations yet, but buyers act cautiously.
2 mins
Tea crop recovers in March; 1Q output at three-year high
TEA crop in March has recovered, posting a 25% gain, and first quarter output higher by 6.2%.
1 min
Transparency International SL welcomes passage of Proceeds of Crime Act
TRANSPARENCY International Sri Lanka (TISL) has welcomed the passage of the Proceeds of Crime Act, which was approved by Parliament on 8 April.
2 mins
Sri Lanka charts new course for blue economy with launch of Marine Tourism Roadmap
SRI Lanka Tourism has taken a decisive step towards redefining its coastal economy and strengthening its tourism portfolio with the official launch of the Marine Tourism Roadmap, a strategic framework aimed at harnessing the country’s extensive ocean resources for sustainable development.
2 mins
SriLankan Airlines backs Sri Lanka's first-ever Media Festival by SLIMFA
SRILANKAN Airlines has come forward to support Sri Lanka’s first-ever Media Festival organised by the Sri Lanka-India Media Friendship Association (SLIMFA) on 26 and 27 April at the Taj Samudra Hotel.
1 min
Stitching through storms
THE country's apparel industry, the largest export sector and a cornerstone of foreign revenue, is bracing for heightened volatility following the US's recent imposition of a 44% reciprocal tariff. Although the blow was temporarily softened by a 90-day relief window, concerns among industry leaders are growing over the medium-term implications on order volumes, supply chain stability, and global competitiveness.
1 min
Rs. 600 m rights issue of Lankem Developments snapped up
THE Rs. 600 million worth rights issue of Lankem Developments PLC has been oversubscribed.
1 min
President AKD condoles demise of Pope Francis
PRESIDENT Anura Kumara Disanayake yesterday expressed great sorrow over the demise of Pope Francis.
1 min
Food Security Committee convenes for sixth time
THE Food Security Committee convened for the sixth time yesterday under the leadership of Agriculture, Livestock, Lands and Irrigation Minister K.D. Lalkantha and Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe.
1 min
Cardinal's call for justice echoes on Easter attacks' sixth anniversary
Cardinal Malcolm Ranjith demands clean-up of complicit powers and accountability Criticises 2019 Presidential Commission for failing to expose broader network behind Easter terror attacks Expresses disappointment over delayed or obstructed justice; urges President AKD to act Highlights several key issues allegedly ignored in investigation Accuses past authorities of systemic sabotage after 2019 election Calls for an Independent Prosecutor's Office to carry out credible investigation Stresses justice is essential for national healing and democratic integrity
2 mins
NCE congratulates Government and EDB for timely intervention on US tariffs
THE National Chamber of Exporters of Sri Lanka (NCE) yesterday extended its heartfelt congratulations to the Government of Sri Lanka and the Sri Lanka Export Development Board (EDB) for their timely and effective intervention in addressing the imposition of tariffs on Sri Lankan exports by the United States.
1 min
IPC India conducts first-ever Wire Harness Competition and technical session in collaboration with EDB
THE International Electronics Manufacturing Association (IPC), in collaboration with the Sri Lanka Export Development Board (EDB), and Sri Lanka Electronic and Electrical Manufacturers and Exporters Association (SLEEMEA), organised a Wire Harness Competition and a technical session on “Wire Harness” on 4 April, at the DHPL 3rd Floor Auditorium.
2 mins
New Anthoney's partners PickMe
IN a move set to bring ease and convenience for consumers to enjoy the finest, high-quality, ethically sourced meats, Meatlery, New Anthoney's premier meat supermarket, has partnered with PickMe, Sri Lanka's leading digital mobility and delivery platform.
2 mins
ANC unveils new academic building in Colombo, elevating educational excellence
ANC, an educational conglomerate specialising in offering the best of international undergraduate and postgraduate education through its partnerships with some of the leading universities world-wide, opened its newest academic building located at 416 R.A De Mel Mawatha, Colombo 3.
2 mins
Lina Manufacturing unveils new logo to mark bold new chapter in healthcare journey
LINA Manufacturing Ltd., the pharmaceutical manufacturing arm of Sunshine Holdings PLC, unveiled its new brand identity a powerful logo that reflects the company's evolution, vision, and commitment to delivering high-quality, affordable healthcare solutions.
1 min
Flash Health’s groundbreaking innovation honoured on global stage
Wins Runner-Up at World Summit Awards 2025 in Health and Wellbeing category
2 mins
CSE begins new week marginally negative
THE Colombo stock market yesterday began a fresh week marginally negative amidst low turnover.
1 min
Annual General Meeting of Sampath Bank Retired Executives Association
THE newly elected President Thilak Abeysinghe addressing the meeting, stated that it is a big milestone for him to be the President of SBREA when the association is celebrating its 20th year of its existence in 2025. He also graciously remembered the contribution of the following founder members who served in the inaugural committee in 2005.
1 min
Tariff war adds to risk facing some APAC banking sector outlooks: Fitch
FITCH Ratings said it had anticipated broadly stable operating conditions across most APAC banking systems in 2025, but a surge in US tariffs could threaten this assumption in some markets.
2 mins
CSE strengthens provincial presence with new branch in Bandarawela
THE Colombo Stock Exchange (CSE) recently opened its Bandarawela Branch to the public, further strengthening its countrywide presence.
2 mins
Secondary bond market yields broadly steady
THE secondary bond market yesterday started off the week on a quiet note. Yields traded largely range-bound carrying over the sideways momentum from the previous week. As a result, the market continued to be in a consolidation phase, as market participants adopted a cautious stance amid the absence of strong directional cues. In conclusion yields were seen holding broadly steady. Trading activity and transaction volumes remained muted, with the market experiencing a virtual standstill for most of the day, aside from some sparse trades.
1 min
Amana Bank continues to strengthen women empowerment
IN commemoration of international Women's Day, Amana Bank reaffirms its commitment to women’s empowerment through Various impactful initiatives to foster financial independence, leadership, and inclusion for women across Sri Lanka. Through its inclusive workforce strategies and women-centricbanking services, Amana Bank isleading the way in supporting women in both the workplace and the financial sector.
7 mins
Great corporate purge: Rethinking employee loyalty in modern workplace
FOR decades, employee loyalty has been upheld as an unassailable virtue — the mark of a committed worker, a trustworthy leader, and a strong organisational culture. But what if that loyalty, when left unexamined, becomes one of the biggest roadblocks to progress?
3 mins
How FITIS set Sri Lanka on path to $ 15 b digital economy by 2030
Outgoing Chairman Indika De Zoysa recaps key jatives during the past two years
4 mins
From infiltration to intimidation: The new age of ransomware
RANSOMWARE attacks have become one of the most pressing cybersecurity threats facing individuals, businesses, and even governments around the world.
3 mins
Securing enterprise resilience with effective Supply Chain Risk Management strategies
ACROSS nearly every industry, an organisation's supply chain is its lifeline. It plays a key role in ensuring productivity, profit and business continuity. Consequently, an enterprise's safeguarding of its supply chain is of paramount importance to minimising risks to its financial success, reputation and operational performance.
3 mins
"Trump Action": Sword of Damocles on Sri Lankan labour market
The apparel industry is a cornerstone of Sri Lanka's economy, directly employing around 300,000 individuals
4 mins
US reciprocal tariffs and Sri Lanka's economy
THE recent economic measures introduced by the United States have had a profound impact on global trade, with Sri Lanka being one of the most affected nations. Under President Donald Trump, a series of “reciprocal tariffs” were implemented to address perceived unfair trade practices by several countries, including Sri Lanka. These tariffs, which range from 11% to 50%, are expected to have a lasting effect on Sri Lanka’s economy, particularly its export sectors and stock market. Notably, Sri Lanka is among the top 10 countries affected by these tariffs, facing a rate as high as 44%.
4 mins
Exporters: Are you on top of your game?
AT this critical juncture, US-centric exporters are exploring opportunities in new markets or lobbying governments for amendments to current tariff structures to address trade surpluses with the US—often at the expense of other importers. This precarious moment demands simultaneous short-, mid-, and long-term tactical adjustments to business strategy. While this article does not offer a “cookie-cutter” solution for all affected exporters, it aims to provide guidance, particularly for small to mid-sized businesses.
2 mins
Fixing public finances without a chainsaw
The threats posed by today's geopolitical and demographic shifts call for a fundamental transformation in public-finances management. Instead of focusing exclusively on debt reduction and tax hikes, European and US policymakers should leverage the value of public-sector assets to generate new revenue streams
8 mins
Time to stop playing politics with Easter Day terror attacks investigation
WHILE Sri Lankans were remembering the victims of the Easter Sunday terrorist attack victims yesterday there came in the sad news that Pope Francis, the head of the Roman Catholic Church, has died at the age of 88.
2 mins
Urgent reforms required to safeguard economy and promote reconciliation: NPC
SRI Lanka has received a breathing space of three months to negotiate with the US Government regarding tariffs to be imposed on Sri Lankan exports which is of utmost importance as the US is Sri Lanka's largest export market.
2 mins
Sixth anniversary of Easter carnage
THE Easter Sunday of 21 April 2019 was one of if not the bloodiest days in the history of Buddhist Sri Lanka. It was staged by a small group of religiously deranged Muslim mercenaries headed by a vagabond madrasa truant and backyard imam apparently hired by a politically ambitious cabal. In a series of three articles under the heading \"Anatomy of an Islamic infamy\" authored by this columnist and published on 5, 8, and 10 May 2019, several issues regarding that infamy were discussed. Later, Daily Financial Times also published them. It is six years since that carnage took place and until now despite numerous investigations and inquiries both local and international and Presidential Commissions and Committees the masters who funded and stage managed this heinous crime have not been produced before the law.
3 mins
Repeal of Online Safety Act vital for economic salvation of Sri Lanka
WHILE the economy of Sri Lanka has achieved some degree of stabilisation after the most dire crisis in history, progress along a growth trajectory remains a clear imperative. Fragility of the current situation has been massively increased by the devastating tariffs imposed by the Trump administration, making our country's exports to the United States especially apparel and rubber products - starkly vulnerable. Against this backdrop the GSP+ facility, affording preferential access to the vast markets of the European Union, becomes a lifeline for our exports. Exemption from import duty for a wide array of products involves an advantage of immense value.
7 mins
Whither Clean Sri Lanka: Decline in road safety and proliferation of waste dumping
Considering the instances where proliferation of waste dumping is increasing, and the ongoing deaths and injuries due to maniacal driving by bus drivers, and others, one cannot but feel that the much-publicised Clean Sri Lanka concept has not yet got off ground as desired.
4 mins
Education as system change: Transforming DNA of Sri Lanka's future
WE see numerous discussion forums, experts, and other interested parties actively talking about our education system.
5 mins
MCA "F" Division 25-Over League reaches semi-final stage
THE seventh Fairfirst Insurance-sponsored MCA \"F\" Division 25-Over League Tournament 2025 has reached its semi-final stage.
1 min
Big names included as India announce annual player contracts
VIRAT Kohli, Rohit Sharma, Jasprit Bumrah, and Ravindra Jadeja are a part of the elite A+ category, as 34 players have been handed the men’s central contracts by the Board of Control for Cricket in India (BCCI).
1 min
Four Sri Lanka shuttlers to compete at Victor Cyprus Junior tournament
SRI Lanka Badminton (SLB) has named four aspiring female shuttlers for the upcoming Victor Cyprus Junior 2025, which is set to take place at the Evangelos Florakis Sports Hall in Nicosia, Cyprus, from 25 to 27 April.
1 min
Peradeniya CC regain L.V. Jayaweera trophy for freshers
PERADENIYA Central College emerged champions at the 49th L.V. Jayaweera inter-school boxing meet for schoolboy freshers while Seelarathana MV, Dombagoda won the Donald Munasinghe trophy for schoolgirl freshers.
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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