Daily FT - May 05, 2025

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In this issue

May 05, 2025

Commercial first SL bank to open Representative Office in Dubai International Financial Centre

THE Commercial Bank of Ceylon is to significantly enhance its international footprint with the opening of a Representative Office in the Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa, and South Asia (MEASA) region.

2 mins

Sri Lanka races towards record arrivals in April

Records 896,884 arrivals with 14.3% YoY increase in first four months, surpassing previous high in 2018, but falls short of highest 907,575 in 2019

2 mins

Sri Lanka's protectionist policies are holding back economic growth: Expert

SRI Lanka has a unique opportunity to tap into a rapidly growing global market in shipping, logistics, and free zones, projected to hit $ 18 trillion by 2030, but its protectionist stance is restricting economic growth, said an expert recently.

4 mins

Economist warns of deepening economic vulnerabilities for SL amid US tariff policy

■ Economist Rehana Thowfeek cautions on 90-day tariff pause nearing its end, SL faces more than just potential decline in orders as it risks shock to already fragile economic recovery

3 mins

Asia must continue with reforms amidst uncertainty, new risks: ADB President

Speaking to media during opening day of ADB 58th Annual Meeting in Milan, Italy, warns region of complacency over recent success

4 mins

Japanese Defence Minister visits Sri Lanka to strengthen bilateral defence collaboration

MAKING an official high-level visit aimed at enhancing diplomatic relations and defence collaborations, Japanese Defence Minister Gen Nakatani arrived in Sri Lanka on Saturday (3).

1 min

Main suspect in Club Wasantha's murder brought to SL

Police detail list of crimes and ongoing investigations by suspect

1 min

President embarks on State visit in Vietnam

Pays homage to Bai Dinh Pagoda, receives warm welcome from people of Vietnam

2 mins

Fcode Labs expands into Europe with key partnership in Sweden

FCODE Labs, a global software product company based in Sri Lanka, has entered the European market through a new strategic partnership in Sweden.

1 min

Omega Line wins top Presidential Export Award for 2023/24

OMEGA Line Ltd., Sri Lanka's largest exporter of apparel to the European market, has won the prestigious Merit award in the Large Apparel category at the Presidential Export Awards ceremony for the year 2023/24, organised by the Sri Lanka Export Development Board.

1 min

Bangladesh High Commissioner and SLPA Chairman explore enhanced port partnership

BANGLADESH High Commissioner Andalib Elias recently held discussions with Sri Lanka Ports Authority (SLPA) Chairman Admiral (Retd.) Sirimewan Ranasinghe to discuss ways to deepen collaboration between the ports of Bangladesh and Sri Lanka, with the aim of streamlining bilateral trade.

1 min

Colombo Stock Exchange and NCE partner to empower exporters

THE Colombo Stock Exchange (CSE) and the National Chamber of Exporters of Sri Lanka (NCE) entered into a strategic partnership to support Sri Lankan exporters by enhancing their access to capital market opportunities and broadening visibility for their businesses.

1 min

Union Bank powers University of Moratuwa National Entrepreneurship Development Program

UNION Bank in collaboration with the University of Moratuwa (UoM) and the National Innovation Agency (NIA) embarked on a milestone collaboration to partner the National Entrepreneurship Development Program (NEDP) to upskill and uplift Small and Medium-sized Enterprises (SMEs).

1 min

Vallibel Finance expands reach with new branches in Pilimathalawa and Galewela

VALLIBEL Finance has expanded its network with the opening of two new branches in Pilimathalawa and Galewela. This strategic expansion enhances access to essential financial services in the Central and Northern Provinces, allowing local communities to benefit from quick and efficient financial solutions that support economic growth.

1 min

Siyapatha Finance unveils innovative loan solutions to empower everyday dreams

IN an era where financial flexibility is more important than ever, Siyapatha Finance PLC has just made it easier to make the next big move.

1 min

Shippers' Academy Colombo to host Global Commerce Quiz Governor's Challenge Trophy 2025 in June

Sixth edition of prestigious industry quiz trilogy coincides with 75th anniversary of Central Bank of Sri Lanka

1 min

Fitch rates Bank of Ceylon's Basel III subordinated debt final 'A'

FITCH Ratings has assigned Bank of Ceylon’s (BOC, CCC+/CCC+/AA-(lka)/ Stable) proposed Sri Lankan rupee-denominated Basel Ill-compliant subordinated debentures of up to Rs. 15 billion a final National Long-Term Rating of ‘A(lka)’.

1 min

HNB drives SME digital transformation with nationwide mini POS initiative

SRI Lanka's largest private sector retail bank, Hatton National Bank (HNB) PLC, has successfully captured a large number of merchants through mini POS (Point-of-Sale) devices, marking a significant milestone in its support of small and medium enterprises (SMEs) across Sri Lanka.

1 min

Australia's Tomorrow Financial Solutions joins forces with global financial powerhouse LOLC Holdings

IN a landmark move set to redefine the financial services landscape across two continents, LOLC Holdings PLC, Sri Lanka’s largest multi-currency, multi-geographic financial conglomerate, has entered into a strategic partnership with Tomorrow Financial Solutions (TFS) Australia.

1 min

Secondary Bond market yields decline

T-Bond auction records positive outcome

3 mins

The Kingsbury appoints hospitality industry veteran Nandana Wirasinha as General Manager

THE Kingsbury has announced the appointment of Nandana Wirasinha as its new General Manager.

2 mins

CG Hospitality's iconic 'The Farm at San Benito' in Philippines joins Marriott's Autograph Collection

Global conglomerate headed by renowned Nepalese Forbes- listed billionaire Binod Chaudhary has leisure footprint of 14 properties in Sri Lanka

2 mins

Linking climate change adaptation with means of implementation

WITH climate change on the rise, countries across the globe must adapt their economies, infrastructure, and social systems to avoid and minimise harmful impacts as much as possible, while trying to capitalise on emerging opportunities.

4 mins

Informal sector and gender-responsive budgeting: Key to effective social spending

THIS week, the International Monetary Fund (IMF) announced a staff-level agreement with Sri Lanka for the fourth review under the Extended Fund Facility (EFF) potentially unlocking another $ 344 million in financing.

6 mins

Government's credibility hangs on Easter Sunday investigation

AS the six-year anniversary of the devastating Easter Sunday attacks has come and gone, the victims and their families are yet to receive justice. More than 260 innocent lives were lost on that day when terrorists targeted churches and hotels on 21 April 2019. Families were shattered, communities scarred, and the nation plunged into grief. Yet, despite the passage of time, the question remains: where is justice?

2 mins

National lesson from Kandy's environmental crisis

THE 2025 Dalada Exhibition in Kandy should have been a moment of national pride and spiritual reflection. Instead, this sacred cultural celebration became a stark illustration of our collective civic failure.

4 mins

Global spillover of Trump(dis)order: Who will win ultimately - Trump or Carney?

ALL public opinion surveys in Canada in the last three years indicated one thing.

8 mins

Impact of US export tariffs on Sri Lankan economy, particularly healthcare industry

IN recent years, global trade dynamics have experienced significant shifts, with the United States implementing stringent export tariffs on various countries, including Sri Lanka.

3 mins

TMC Jaffna hosts session on Canadian immigration: Step towards global opportunities

THE Management Club (TMC) Jaffna successfully concluded a highly informative and engaging discussion on \"Immigration to Canada\" on Saturday, 15 March, at J Hotel, Pungankulam Road, Jaffna.

3 mins

The Management Club of Sri Lanka: Fostering professional growth and networking

THE Management Club of Sri Lanka is a premier professional association dedicated to serving the needs of management and senior management professionals across the country.

2 mins

NCE Sri Lanka and TMC partner to boost trade, investment, professional excellence

IN a landmark move to strengthen Sri Lanka’s trade and professional sectors, the National Chamber of Exporters (NCE) of Sri Lanka and The Management Club (TMC) of Sri Lanka have officially signed a Memorandum of Understanding (MoU), marking the beginning of a collaborative partnership aimed at boosting trade, investment, industrial cooperation, and professional development across the country.

2 mins

Strange case of US democracy

Going by some decisions taken by US Presidents that have had very negative consequences for the USA itself and other countries, a dilemma does arise about democracy and what it means and how it is exercised in the USA.

10+ mins

Dungeons & Dragons board gaming arrives in Sri Lanka

SRI Lankan tabletop gaming enthusiasts are set to embark on an epic adventure as Dungeons & Dragons (D&D) makes its mark on the local gaming scene.

1 min

New Zealand outclass second-string Sri Lanka

THE New Zealand Under 85kg outfit made an emphatic statement at the Nittawela Rugby Stadium yesterday, overpowering a second-string Sri Lankan side with a commanding 50/10 victory in front of a fully packed and appreciative crowd.

1 min

Trinity advance to semi-finals with gritty win over Thomians

TRINITY College kept their title hopes alive with a hard-fought 24/15 victory over a gritty Thomians outfit in a tense President’s Trophy Knockout quarter-final clash at Havelock Park last weekend.

2 mins

Christ King College win inaugural Big Match against Carey

CHRIST King College won the inaugural 'Battle of the Crowns' cricket match with Carey College at the P. Sara Oval in Colombo on Saturday.

1 min

Sri Lanka stun India to register second consecutive win

SRI Lanka pulled off a stunning three-wicket win over India to register their second win of the Women's ODI Tri-Series and inch closer to a place in the final, at the R. Premadasa International Cricket Stadium yesterday.

3 mins

Prima KottuMee spices up All Blacks Under 85kg Rugby Tour in Sri Lanka

PRIMA KottuMee has once again demonstrated its commitment to sports development through a collaboration with Sri Lanka Rugby to host the tour of an official All Blacks team.