Daily FT - May 07, 2025

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In this issue

May 07, 2025

Right of Reply/Correction: Rehana Thowfeek

WITH reference to the article titled 'Economist warns of deepening economic vulnerabilities for SL amid US tariff policy' published in the Daily FT of 5 Monday, Economist Rehana Thowfeek has raised concerns over certain inaccuracies and misattributes.

2 mins

CSE closes shortened trading day on the up

THE Colombo stock market yesterday closed on the up during the shortened trading session in view of LG polls.

1 min

World Bank Group President in town

WORLD Bank Group President Ajay Banga will visit Sri Lanka today (7), marking the first Presidential visit to the country by a World Bank Group President in nearly 20 years. The visit comes at a critical moment, as Sri Lanka continues its path toward economic recovery and seeks to build a more resilient, inclusive and private sector-led future.

1 min

Hayleys debenture issue oversubscribed on opening day

HAYLEYS PLC, Sri Lanka's leading diversified conglomerate, announced that its Rs. 7 billion senior unsecured redeemable debenture issue has been oversubscribed on the first day of opening, reflecting strong investor confidence in the Group's financial strength and future prospects.

1 min

CBSL Chief urges $ 10.85 b climate push by 2030

CENTRAL Bank Governor Dr. Nandalal Weerasinghe on Monday cautioned that Sri Lanka must mobilise an estimated $ 10.85 billion by 2030 to meet its climate commitments, under-scoring the urgent need for investment in climate resilience and sustainability - an effort that is crucial for Sri Lanka’s economic recovery, acting as both a shield against future shocks and a springboard for long-term, inclusive growth.

2 mins

Sri Lanka thanks ADB for “being a massive strength”

Stresses ADB support helped SL to enhance stability and set stage for economic recovery and growth after back-to-back shocks in 2022 At ADB's 58th Annual Meeting advocates country-focused approaches to match global development agenda

3 mins

Ruling NPP leads in early LG poll results

THE ruling National People’s Power (NPP) was leading in LG polls as per early results released by the Election Commision last night.

1 min

BASL condemns brutal ragging incident, demands justice for Sabaragamuwa University tragedy

THE Bar Association of Sri Lanka (BASL) has voiced strong condemnation over the tragic suicide of a Sabaragamuwa University student, allegedly driven by a brutal act of ragging—calling it an ‘inhuman and unlawful’ violation of both legal standards and fundamental human decency.

1 min

PM engages EU delegation on GSP+ renewal process

Talks focus on reforms in human rights, labour, inclusion and growth PM Dr. Harini Amarasuriya outlines Govt’s priorities in poverty alleviation, digitalisation, ‘Clean Sri Lanka’ initiative Highlights legal reforms on Online Safety Act and anti-trafficking laws Discusses women's economic empowerment, childcare, and safe transport EU praises reform progress, offers technical support for GSP+ bid Reaffirms commitment to broader partnership beyond trade

2 mins

SL among probable countries to face UK visa restrictions – Report

BBC: Visa applications from nationalities thought most likely to overstay and claim asylum in the UK could be restricted under a new government crackdown.

2 mins

CH17 partners FinWin Group to launch first franchise operation in MENA region

Offers returnees with dollar discounts on duty free purchases at The Mall, Port City Colombo

1 min

NDB Wealth celebrates excellence and milestones at Annual Sales Awards 2024

NDB Wealth marked a defining moment in its journey with the Annual Sales Excellence Awards 2024, held to celebrate a year of record-breaking achievements and the people who made it possible.

2 mins

Secondary bond market yields hold steady

THE secondary bond market was in a lull state against the backdrop of the Local Government elections. Market activity and transaction volumes were at subdued levels with the market being at a virtual standstill for much of the day.

2 mins

HP launches three-year warranty in Sri Lanka, emphasising importance of authorised sellers

HP has highlighted the importance of purchasing from authorised sellers with the introduction of an exclusive three-year warranty for selected laptops in Sri Lanka.

1 min

ADB says digitalisation can reduce persistent inequality in Asia and Pacific

Asian Development Policy Report 2025 puts spotlight on “Harnessing Digital Transformation for Good”

2 mins

How Asia can revolutionise food systems—before it's too late

ASIA faces a paradox: home to over half the world’s undernourished, but also the most vibrant economies, where agrifood systems employ 40% of the workforce.

3 mins

Wind power: Essential element of renewable energy mix for Sri Lanka

THIS is a rebuttal to the article titled “Policy brief for Sri Lankan Govt.: Call to re-evaluate wind energy strategies for sustainable future” by Hiran Daluwatta (HD) that was published in the DFT on 21 April 2025 (https://www.ft.lk/opinion/Policy-brief-for-Sri-Lankan-Govt-Call-to-re-evaluate-wind-energy-strategies-for-sustainable-future/14-775601). HD presents wind power in negative light with erroneous remarks and claims that wind energy is not the optimal solution for achieving long-term energy security for SL. Responses to opinions expressed by HD are presented below:

5 mins

First-of-its-kind local council election

YESTERDAY, the islanders exercised their franchise at a nation-wide local council election after seven years. The poll carried a lot of political significance as it was the first local council election since the non-conventional political alliance the National People's Power (NPP) came into power last year.

2 mins

Socialist People’s Forum calls for end to ragging in State universities

“Only I know what I have been through all this time. I tried so hard to overcome depression, but this is all the life I have left’ -Charith Dilshan, Engineering Student, University of Sabaragamuwa

2 mins

When silence kills: Cost of bullying, ragging, abuse and indifference in Sri Lanka

IN classrooms and corridors across Sri Lanka, children and young adults are learning something far more dangerous than what appears in textbooks. They are learning how to survive abuse often inflict- ed not by strangers, but by peers. Bullying in schools, once brushed off as a \"normal\" part of growing up, has evolved into something far more sinister, and its consequences are irreversible. Lives are being lost. Futures are being erased. And we, as a nation, remain largely silent.

3 mins

Renaissance?

\"You are in the end-what you are.\" - Goethe (Faust)

6 mins

VFS Global acquires majority stake in CiX Citizen Experience to create centre of excellence and promote Brazilian knowhow in Public Service abroad

Supercharged growth: VFS Global's partnership will accelerate CiX's expansion across Brazil, Latin America, and beyond Global powerhouse: With VFS Global's capital, technology, talent and scale, CiX Citizen Experience will bring new products and technology to the global marketplace Quality of life commitment: Both companies are dedicated to innovative solutions, including the use of Al, that improve citizens' quality of life Local impact with wider reach: Collaboration to modernise services for citizens of Brazil by creating a centre of excellence that stands as a global example

2 mins

Ishq Colombo among world's best: Wins Tripadvisor Travellers' Choice Award 2025

Recognised in top 10% of hospitality destinations globally

2 mins

Aitken Spence Travels continues its leadership as only Travelife-Certified DMC in Sri Lanka

AITKEN Spence Travels, has once again been recertified with the prestigious Travelife Certified sustainability certification.

1 min

Waters Edge unveils its first-ever luxury room wing

LONG known as a go-to venue for weddings and events, Waters Edge recently expanded into full-fledged hospitality with the launch of its first-ever luxury room wing.

2 mins

Former Indian Fielding Coach R. Sridhar to elevate national fielding standards

SRI Lanka Cricket said that former India National Team Fielding Coach R. Sridhar will conduct a comprehensive 10-day fielding program to elevate the fielding standards of Sri Lankan cricketers.

1 min

Navy Women's 7s Rugby Team clinches championship at Defence Services Games

THE Navy Women’s 7s Rugby Team emerged victorious at the Defence Services Games — 2025, securing the championship title.

1 min

Sri Lanka veterans win inaugural International Masters Hockey Cup

SRI Lanka Masters’ hockey teams led by former national striker Nadith Kudagama emerged unbeaten champions by defeating Dubai Hockey Club by 4-0 in the first ever Cargills International Masters Hockey Cup concluded on Saturday at Colombo Astro Turf.

2 mins

Servo – fueling future of women's cricket: Reaffirming commitment to Sri Lanka's sporting spirit

LANKA IOC PLC has stepped forward as the title sponsor of the Women's Tri-Nation One Day International (ODI) Series featuring Sri Lanka, India, and South Africa.