Daily FT - April 24, 2025

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In this issue

April 24, 2025

Uber says supported SL with Rs. 160 b economic activity in 2024

UBER said yesterday it has supported Sri Lanka with Rs. 160 billion worth of economic activity in 2024.

3 mins

WB says South Asia's growth prospects dimming amid global uncertainty

Increasing domestic revenues key to stronger fiscal buffers

3 mins

SL's economy outpaces growth projections, more efforts needed to reduce poverty, spur growth: WB

THE World Bank yesterday acknowledged Sri Lanka's economy has made a remarkable recovery in 2024, surpassing growth expectations by recording 5% growth, compared to the projected 4.4%, but stressed more efforts are needed to reduce poverty and spur medium-term growth.

2 mins

Cabinet nod to ease registration process for electric tuk-tuks

THE Cabinet of Ministers on Monday (21) approved introducing new provisions for the registration of electric motor tricycles (tuk-tuks) amending the Motor Traffic Act to allow the gross weight of electric tuktuks including the battery system to be increased to 650 kilograms.

1 min

Govt. plans countrywide water-based transport and tourism boost via feasibility study

IN a fresh move to capitalise on the vast network of inland waterways and coastal routes, the Cabinet of Ministers this week gave its green light to conduct a feasibility study aimed at launching a national waterbased transport and tourism initiative.

1 min

Exports in 1Q grow by 6% to surpass $ 4 b mark

SRI Lanka's export sector continues to show strong recovery and resilience, with performance in the first quarter of 2025 reaching over $ 4.2 billion-a 5.87% increase compared to the same period last year.

3 mins

NMSJ says inactivity of RTI Commission undermines anti-corruption efforts

THE National Movement for Social Justice (NMSJ) has urged President Anura Kumara Disanayake to immediately address the current state of the Right to Information (RTI) Commission, as the prevailing situation has created conditions that undermine its full and effective functioning.

1 min

SL, US to make joint statement on tariff resolution: AKD

PRESIDENT Anura Kumara Disanayake yesterday announced that Sri Lanka and the US are to make a joint statement on the resolution of the reciprocal tariff issue.

1 min

Dhammika Perera enters cement industry

BUSINESS leader Dhammika Perera has forayed into the competitive yet high-potential cement industry by acquiring a 51% controlling stake in DHT Cement Ltd., a joint venture between Indian and Sri Lankan investors.

2 mins

Japan's Belluna marks decade of investment in Sri Lanka

Says its commitment is reflected in a diverse and growing portfolio with a total regional investment exceeding $ 200 m

2 mins

Three-member committee appointed to probe removal of suspended IGP Deshabandu

A three-member committee has been appointed to investigate and advise on the removal of suspended Inspector General of Police (IGP) Deshabandu Thennakoon, following growing political and public pressure over allegations of misconduct and abuse of power.

1 min

Shani Abeysekara joins committee reviewing Easter Attack report

CENTRAL Crime Investigation Bureau Director SSP Shani Abeysekara has been appointed to the committee tasked with reviewing the report of the Presidential Commission of Inquiry on the Easter Sunday terror attacks.

1 min

India downgrades ties with Pakistan after attack on Kashmir tourists

INDIA yesterday announced a raft of measures to downgrade its ties with Pakistan, a day after suspected militants killed 26 men at a tourist destination in Kashmir in the worst attack on civilians in the country in nearly two decades, according to Reuters.

1 min

CEB insists solar surge triggered 9 Feb. countrywide blackout

THE Ceylon Electricity Board (CEB) yesterday issued a formal clarification detailing the findings of an independent Expert Committee that investigated the nationwide power outage which plunged Sri Lanka into darkness on 9 February 2025.

1 min

Ravi Goonetilleke appointed to Ambeon Capital and Holdings Boards

RAVI Goonetilleke has been appointed to the Boards of Ambeon Capital PLC and subsidiary Ambeon Holdings PLC as an Independent NonExecutive Director.

1 min

Daraz Future Leaders Program 2025 now open to attract South Asia's best emerging talent

DARAZ has announced the launch of the 2025 edition of its Daraz Future Leaders Program (DFLP, the \"Program\"), a group-wide management trainee initiative aimed at nurturing high-potential talent across Sri Lanka, Bangladesh, Pakistan, and Nepal. DFLP is set to establish Daraz's commitment to nurturing local talents and building a thriving e-commerce ecosystem in the region.

1 min

Ceylon Capital Management buys 23 m shares in Browns Investments

Says strategic expansion backed by visionary outlook on future of Sri Lanka's capital markets

2 mins

DPMC unveils three new Pulsar bikes at Sri Lanka's biggest motorcycle launch

DAVID Pieris Motor Company Ltd., (DPMC), Sri Lanka's trusted leader in mobility solutions for over 40 years, announced the launch of three new Bajaj Pulsar motorcycles — the Pulsar N125, Pulsar N160 Premium and Pulsar NS200 USD. This marks the first and biggest motorcycle launch in the country following the recent lifting of vehicle import restrictions.

1 min

Toyota Lanka hosts high-level delegation from Toyota Tsusho Corporation

TOYOTA Lanka Ltd. recently had the special honour of hosting distinguished executives from Toyota Tsusho Corporation (TTC).

2 mins

WORX Co-working partners Lime & Co Hostel to launch 5th space in Midigama

WORX Co-Working, Sri Lanka's leading network of co-working spaces, has partnered with Lime & Co Hostel to launch its fifth location in Midigama. This expansion marks a significant milestone, making WORX the largest co-working provider in the country and reinforcing its commitment to supporting Sri Lanka's growing remote work community.

1 min

PIM faculty at IIM Bangalore - Focus on worldclass learning experience

AS the only South Asian Quality Standard (SAQS) accredited Institution in Sri Lanka, as a part of its continuing professional development initiative, the Postgraduate Institute of Management, the business school of Sri Lanka's largest

1 min

Haneekah Rahil represents Sri Lanka at Commonwealth Youth Leaders' Summit 2025 in London

HANEEKAH Rahil, a dedicated advocate for peace, human rights, climate action, and education, represented Sri Lanka at the Commonwealth Youth Leaders' Summit 2025, held from 3 March onwards at the Commonwealth Secretariat in London, UK. The summit brought together youth leaders from 56 Commonwealth nations for intensive leadership training conducted by top diplomats and experts.

1 min

Fitch rates Commercial Bank's proposed Basel III subordinated green bond 'A(EXP)

FITCH Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green bonds of up to Rs. 15 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’.

1 min

Colombo stock market's struggle continues to third day

THE Colombo stock market yesterday saw its struggle continue for the third consecutive day though investor activity picked up marginally.

2 mins

Phase 1 undersubscribed for 5th straight week; rates record mixed results

Secondary bond market yields ease marginally Rupee steady

2 mins

Trump tariffs and financial reporting: Considerations for audit and risk committees

Increasing tariffs and global trade uncertainty may have significant financial reporting effects for entities. There are numerous accounting implications across multiple areas such as going concern assessments, judgements and estimates, impairment of non-financial assets, etc. This article explores many of these implications for entities both directly and indirectly affected.

10+ mins

Let's lean on science always and certainly with monkeys too

AS a species connected to our evolution, monkeys being in the news should not be surprising.

7 mins

Test of integrity: Mahara Mosque and NPP's promise

HERE is a challenge to the NPP Government which promised to eradicate racism and champion the cause of forging one united Sri Lankan citizenry.

4 mins

Lanka loses balance, direction: Chooses Indo-US orbit, not Asian alternative

We Sri Lankans have to glean from the Indian media, information about the Defence pact and other agreements with India which change Sri Lanka’s direction and destiny, signed on Sri Lankan soil, by Sri Lankan President Anura Dissanayake, elected by the votes of Sri Lanka’s citizens.

9 mins

Decadent desserts at Table by Nyne

NESTLED in the heart of Colombo, Table by Nyne presents a dessert menu that blends classic favourites with innovative new flavours.

1 min

Sushi Bar Samurai and Rampe Restaurants celebrate landmark 10-year anniversary

THE Sushi Bar Samurai, an authentic Japanese Sushi Bar first opened its doors with the famous 'Sushi Train' in September 2014 on Beach Road Negombo and later ventured into Colombo in 2015. Since its inception, The Sushi Bar Samurai has grown in popularity catering to expat and local tastes with its exquisite mix of authentic Japanese with a twist.

1 min

Chinese Dragon Café opens seasonal outlet at Alpine Hotel, Nuwara Eliya for April season

CHINESE Dragon Café, opened a temporary outlet at the Alpine Hotel in Nuwara Eliya for the month of April.

1 min

Pasindu to lead Sri Lanka 'A' in 4-day game v Afghanistan 'A'

MIDDLE-ORDERbatsman Pasindu Sooriyabandara willead Sri Lanka' in the four-day unofficial test against Afghanistan A'at Abu Dhabi from 29 April to 2 May.

1 min

Sri Lanka 'A' k/o host Afghanistan 'A', meet Ireland Wolves in final

Explore Afghanistan Tri-Nation Series in Abu Dhabi

2 mins

Randika (122) leads Dambulla's spirited fight back

DAMBULLA once again displayed their tenacity to fight it out when the odds are low, recovering from a hopeless 203-6 to top Jaffna's total of 418 and gaining a first innings points win to finish the league stage of the 4th National Super League 4-day tournament on a high in their match which concluded at the Pallekele Cricket Stadium yesterday.

1 min

Sparkling start by Reshan at Faldo Series Asia Finals

FALDO Series Asia Finals kicked off yesterday with an impressive display from Sri Lankan golfer Reshan Algama, who finished his opening round with a one-under-par score of 70 in Vietnam.

1 min

Zahira Rugby felicitates sponsors

ZAHIRA gears up for the 2025 rugby season with strong set of sponsors and its felicitating event took place at their college hall in Maradana recently.

1 min

3 uncapped players in Sri Lanka squad

SRI Lanka has named three uncapped players in their 17-member squad captained by Chamari Athapaththu to participate in the Women's Tri-Nation One-day Series with India and South Africa starting on Sunday at the R. Premadasa Cricket Stadium.

1 min

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