Daily FT - May 06, 2025

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In this issue

May 06, 2025

Two flaws will defeat promised women's quota in LG: Verité Research

THE 25% quota for women in local authority elections, introduced in 2017 to improve women's representation, is likely to be defeated by two flaws in implementation, Verité Research notes.

1 min

CSE begins new week on positive note

THE Colombo stock market yesterday began a fresh week on a positive note, with improved investor activity.

1 min

ADB gets $ 100 b financial firepower to boost region's resilience

ADB President Masato Kanda announces to members and stakeholders enhanced financial resources at 58th Annual Meeting in Milan, Italy

5 mins

Customs to name and shame tax evaders

New initiative intended to discourage tax evasion, motivate compliance and serve as deterrent against repeated violations

1 min

Bribery Commission receives over 1,250 complaints in Q1

Raids lead to 20 arrests including several public officials entrusted with key administrative and law enforcement roles

1 min

CBSL charts greener future with Sustainable Finance Roadmap 2.0

Sustainable Finance 2.0 moves beyond green to embrace inclusiveness and social impact

4 mins

Sri Lanka and Vietnam forge stronger ties with landmark agreements

Ink four MoUs—Machinery and Equipment Manufacturing Cooperation, Agricultural Cooperation, Diplomatic Training Collaboration and Trade Promotion Partnership, as well as one bilateral agreement on Customs Cooperation and Mutual Support

1 min

Browns Investments expands plantation empire with another Rs. 4.8 b acquisition

BROWNS Investments PLC (BIL), the investment arm of the LOLC Group, yesterday announced a significant expansion of its plantation portfolio with the acquisition of FLMC Plantations Ltd., (FLMC).

2 mins

Crucial LG polls today after seven-year lapse

OVER 17 million voters will head to the polls after a delay of seven years to elect their representatives to Local Government (LG) institutions.

1 min

SLASSCOM's exclusive Leadership Skills Bootcamp returns

THE highly anticipated \"Bring Out the Leader in You\" Leadership Skills Bootcamp, organised by the SLASSCOM Women Technopreneurs Forum in partnership with SLASSCOM Academy, is back by popular demand.

1 min

Scalefusion and Connex Information Technologies partner to empower Maliban Group with seamless endpoint management

PROMOBI Technologies recently announced that Scalefusion - its leading unified management solution, has partnered with Connex Information Technologies, a value-added technology solutions provider in Sri Lanka. With this partnership, Scalefusion aims to enhance endpoint management and security for diverse businesses in the APAC.

2 mins

Newly appointed Sri Lankan Ambassadors and High Commissioners meet with business leaders at National Chamber

THE National Chamber of Commerce of Sri Lanka, in collaboration with the Ministry of Foreign Affairs, Foreign Employment and Tourism, successfully hosted an exclusive networking session for the local corporate and business community on Friday, 2 May, at the National Chamber Auditorium.

1 min

CA Sri Lanka's TAGS Awards ushers in new era of corporate reporting as it celebrates 60th anniversary

AS Sri Lanka continues its journey towards a transparent, accountable, and sustainable corporate environment, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will commemorate a remarkable milestone - the 60th anniversary of the TAGS Awards, the country's most prestigious platform recognising excellence in corporate reporting.

4 mins

President invites Vietnam’s Vingroup for investments in Sri Lanka

@ States Sri Lanka is keen to welcome Vingroup as a long-term investor and partner in its growth trajectory @ Highlights potential strategic investment opportunities in tourism and real estate sectors @ Assures Govt. support to create seamless and enabling environment for foreign firms to thrive in SL

1 min

Fitch publishes MBSL's proposed Rs. 1 b subordinated debt rating of 'BBB+'

FITCH Ratings has published the expected National Long-Term Rating of 'BBB+(EXP) (lka)' on Merchant Bank of Sri Lanka and Finance PLC's (MBSL, A(lka)/Stable) proposed subordinated debentures of up to Rs. 1 billion.

1 min

We are actuaries – Life Insurance

IN a previous article written by my colleague, she introduced what an actuary is and what they do (with a focus on the General Insurance industry).

5 mins

Union Assurance launches new employee value proposition for dynamic and future-ready workforce

UNION Assurance, has unveiled its new Employee Value Proposition (EVP), 'Grow Beyond Limits', reinforcing its commitment to continuously improving its workforce and shaping a forward-thinking culture within the organisation.

1 min

People’s Bank honoured with top accolades at Best Management Practices Company Awards 2025

PEOPLE'S Bank reaffirmed its leadership in organisational excellence by winning multiple prestigious awards at the Best Management Practices Company Awards 2025, hosted by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka).

2 mins

Secondary Bond market starts new week positively

Rupee stable

1 min

Long-delayed Local Government elections, crucial test at grassroots

TODAY is a significant moment-the long-postponed local government elections are finally being held. While these polls traditionally receive minimal public attention, their importance in shaping the political and administrative culture of the country cannot be overstated. More than just a logistical exercise in decentralisation, these elections are the first electoral test of President Anura Disanayake's administration and a litmus test for the political mood of the country.

2 mins

Why connecting Sri Lanka's electricity grid to India would be grave strategic mistake

IN the midst of Sri Lanka's prolonged economic crisis, the proposal to connect our national electricity grid to India through an undersea transmission line has resurfaced as a seemingly pragmatic solution. Advocates tout benefits such as cheaper electricity, enhanced regional cooperation, and improved grid stability. But behind this optimistic facade lies a serious threat to Sri Lanka's sovereignty, energy security, and long-term economic independence.

4 mins

Call for strong mandate: Why 2/3rd majority for President AKD and NPP critical for national reform

AS Sri Lanka prepares for the upcoming local government elections, I urge all citizens who have placed their trust in integrity, reform, and a new political culture to stand firmly with President Anura Kumara Dissanayake and the National People's Power (NPP).

1 min

"Withdraw DPA (amendment) Bill placed on Gazette in March"

Following is a letter sent by CSOs to President Anura Kumara Disanayake on the proposed amendment to the Personal Data Protection Act 2022

4 mins

What's behind four-year low in crude markets?

When US President Donald Trump was inaugurated to his second term as president on 20 January, oil prices were close to the highs of the summer before.

5 mins

Sri Lanka welcomes world's top wedding planners at Cinnamon Life

FROM 9 to 11 April, Cinnamon Life at City of Dreams became the stage for DWP Privé, an exclusive gathering of the world's most celebrated luxury wedding planners and suppliers.

2 mins

Domino's Sri Lanka expands with new outlet at Havelock City

DOMINO'S Pizza, recently opened its latest outlet at Havelock City in Colombo.

1 min

Celebrate Mother's Day with love at Cinnamon Lakeside Colombo

CINNAMON Lakeside Colombo warmly invites you to celebrate Mother’s Day in grand style with special culinary experiences designed to honour and cherish mothers and grandmothers on their special day.

1 min

Mount Lavinia Hotel announces ground breaking Mother's Day Celebration

IN an unprecedented culinary tribute to mothers across the nation, Mount Lavinia Hotel is set to transform Mother’s Day celebrations with its revolutionary “Adarei Amma” (“Love You Amma”) initiative—the first-ever crowd-sourced home-cooked meals menu in Sri Lanka’s hospitality history.

2 mins

Glamour and elegance illuminate Songkran celebration at Cinnamon Lakeside Colombo

CINNAMON Lakeside Colombo, the epitome of luxury and refined hospitality, hosted a spectacular two-day dining experience at its acclaimed Royal Thai Restaurant to commemorate Songkran, the cherished Thai New Year Festival, on 25 and 26 April.

1 min

Semi-final-like Quarter Finals light up stands

DIALOG SCHOOLS RUGBY KNOCKOUTS 2025 QUARTER FINALS - TACTICAL ANALYSIS

4 mins

St. Peter's edge past arch-rivals St. Joseph's in annual limited overs fixture

ST. Peter’s College edged past their arch-rivals St. Joseph’s College by four wickets to clinch their 51st annual limited overs cricket fixture played at the SSC Grounds yesterday.

1 min

Swisstek partners with Vidyartha Rugby to elevate school sports

New sponsorship unveiled with jersey reveal in Kandy

2 mins

American and Efird Lanka props up with Referees Society as Gold Sponsor

IN a significant move showing their commitment to fostering excellence, A&E Sri Lanka Ltd., announced its collaboration with the Sri Lanka Society of Rugby Football Referees (SLSRFR) as an official Gold Sponsor.

1 min

Bangladesh to make full tour of Sri Lanka in June-July

THE Bangladesh national men’s cricket team will tour Sri Lanka in June-July to engage in a bilateral series.

1 min

Sri Lanka move up to 4th in ICC ODI rankings

SRI Lanka who had a successful run in One-Day Internationals with six series wins out of eight since their disappointing 2023 Cricket World Cup campaign has moved to 4th place in the ICC Men’s ODI team rankings after the annual updates.

1 min

Sri Lanka pull one back to beat Bangladesh by 27 runs

SRI Lanka managed to pull back one game in the ongoing 6-match Under-19 ODI series when they beat touring Bangladesh by 27 runs in the fifth match played at the SSC grounds yesterday.

1 min

Legendary fast bowler M.N. Samsudeen passes away at 88

WESLEY College and Sri Lanka has lost a legendary fast bowler with the passing away of Mohammed Nakeem Samsudeen popularly known as M.N. Samsudeen at the age of 88 after a short illness yesterday.