Daily FT - May 08, 2025

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In this issue

May 08, 2025

National tea sales averages tumble across the board in April, YoY

SRI Lanka's tea industry continues to feel the pressure, with national tea sale averages slipping for a second consecutive month in 2025, while the year-on-year (YoY) picture is equally concerning.

1 min

Advocata Institute welcomes Gambling Bill approval

Urges Govt. for wider public consultation

2 mins

Sri Lanka affirms commitment to repeal PTA with timeline to secure EU GSP+

SRI Lanka has affirmed its commitment to repealing the Prevention of Terrorism Act (PTA) during the recent EU-Sri Lanka joint meeting, a longstanding concern that remains pivotal to securing continued access to the European market under the Generalised Scheme of Preferences Plus (GSP+) trade preferences scheme.

2 mins

Sri Lanka crosses 900,000 arrivals mark in 2025

SRI Lanka's tourism industry has surpassed 900,000 tourist arrivals for this year, enhancing the optimism in the sector of achieving the ambitious goal of 3 million tourists by year-end.

1 min

Ruling NPP wins LG polls but suffers loss of mass appeal

IN a tightly contested Local Government (LG) election, ruling party National People's Power (NPP) led by President Anura Kumara Disanayake emerged victorious, securing control in the majority of local councils countrywide.

1 min

World Bank Group to boost jobs and private sector growth in SL with $ 1 b support package

Immediate sectors targeted in three-year package include: energy, agriculture, tourism and regional development World Bank Group President Ajay Banga says this is moment of opportunity for Sri Lanka Asserts it is time to accelerate reforms and create conditions for private enterprise to thrive, particularly in sectors that can create jobs at scale World Bank estimates nearly 1 m young people will enter Sri Lanka's workforce over next decade, yet only about 300,000 jobs are projected to be created in same period

2 mins

Prasanna Ranaweera remanded till 19 May

THE Mahara Magistrate’s Court has ordered to remand former State Minister Prasanna Ranaweera till 19 May after surrendering to the Court yesterday.

1 min

Court of Appeal dismisses writ petition against Minister Ananda Wijepala

THE Court of Appeal yesterday dismissed the writ petition filed challenging Minister Ananda Wijepala’s eligibility to continue as a Member of Parliament.

1 min

Pakistan condemns Indian air strikes, calls on global response

PAKISTAN yesterday condemned the Indian air strikes on multiple locations within its sovereign territory, noting it as blatant violations of Pakistan’s sovereignty and territorial integrity, which manifestly constituted acts of war under international law.

2 mins

15 Sri Lankans rescued and repatriated from cybercrime centres in Myanmar

THE Ministry of Foreign Affairs, Foreign Employment and Tourism, in close coordination with the Sri Lanka Missions in Myanmar and Thailand and with the cooperation of the Governments of Myanmar and Thailand, successfully facilitated the rescue of 15 Sri Lankan nationals who had been trafficked and forcibly employed in cybercrime centres in Myawaddy, Myanmar.

1 min

LAUGFS Holdings appoints Ravi Edirisinghe as Group MD/CEO

Succeeds outgoing Group Managing Director/Group CEO Piyadasa Kudabalage ■Company says strategic leadership transition is a key step in LAUGFS' new business revival and transformation strategy

2 mins

Hayleys Fentons receives national recognition for fire safety engineering excellence at Annual Construction Competition 2025

HAYLEYS Fentons Ltd., the No.1 MEP contractor in Sri Lanka has been honoured with the Excellence Award in Mechanical Engineering at the Annual Construction Competition - Western Province 2025, presented by the National Construction Association of Sri Lanka.

1 min

CDB conferred Corporate Gold Membership by Green Building Council Sri Lanka

CORPORATE Gold Membership recognises commitment to sustainability and green finance

1 min

RIUNIT suburban real estate update: Rajagiriya

Consolidating status as premium residential zone as well as investment corridor amid Colombo's urban renaissance

2 mins

Nippon Paint receives “Awards of Excellence” from SLIA for two leading products

■Nippon Paint's renovation floor paint and renovation wall tiles and benchtop products lead the way

1 min

Prime Residencies’ ‘One Tangalle’ commences construction

Latest addition to ultra-luxury ‘One Collection’ portfolio

1 min

Vipula Pusselle new CEO at Maskeliya Plantations

VIPULA Pusselle has been appointed as the new CEO of Maskeliya Plantations PLC effective 2 May 2025.

1 min

Durairatnam joins Tokyo Cement Company Board

EX-BANKER Jegatheesan Durairatnam has been appointed to the Board of Tokyo Cement Company (Lanka) PLC as an Independent Non-Executive Director.

1 min

Sri Lanka-France Business Council Members' Day hosted by French Ambassador

THE Sri Lanka-France Business Council (SLFBC) of The Ceylon Chamber of Commerce recently held its annual Members' Day, graciously hosted by the newly appointed French Ambassador to Sri Lanka, Rémi Lambert, at his official residence.

1 min

Open letter to Chairman and Board of Directors of DFCC Bank

THIS letter is written to draw the attention of the Board of DFCC Bank to the fact that they represent all shareholders including minority shareholders of DFCC Bank and have an obligation to ensure that the interest of all shareholders are addressed.

3 mins

CSE dips as investors react negatively to NPP's below par show at LG polls

THE Colombo stock market yesterday declined as investors reacted negatively to the lower than anticipated performance of the ruling National People's Power (NPP) at Tuesday's Local Government (.6) polls

2 mins

Secondary Bond market remains positive

THE weekly Treasury Bill auction conducted yesterday retained its positive momentum. Market activity and transaction volumes were seen at healthy levels as strong demand was observed on 2027-2031 tenors which saw yields decline further.

1 min

Overly intrusive board is CEO’s worst nightmare

“WHERE does board responsibility end and executive responsibility begin?” is a question often posed by chief executive officers and other C-suite executives who are immobilised in their decision making like ‘rabbits caught in the headlights’ due to lack of decision definition.

10 mins

Unmasking energy crisis

Looming crisis of fossil fuel scarcity: Will Sri Lanka brace or buckle?

9 mins

Chikungunya and dengue: Neglected scourge in Sri Lanka

THE SL Medical Council is a statutory body whose mission is to protect, promote and maintain the health and safety of the public by setting, raising and maintaining standards of education and practice of healthcare in the country.

1 min

NPP popularity dips in first electoral test

TUESDAY’S local authorities election is over, and the results are out and it’s not good news for the ruling National People’s Party (NPP) whatever spin one may try to put on it.

2 mins

Decisive mandate for change

THE outcome of the recently concluded Local Government elections—where the National People’s Power (NPP) emerged as the leading force with 43.26% of the vote and 3,926 seats—reflects a decisive shift in the political landscape of Sri Lanka. The people have spoken with clarity, demonstrating a preference for accountability, transparency, and credible leadership.

1 min

Dark reality of ragging in Sri Lankan universities: Betrayal of hope

FOR thousands of Sri Lankan students, gaining admission to a university is a moment of triumph—the result of years of hard work, sleepless nights, and steadfast pursuit.

2 mins

Reply to "SOE losses costing Rs. 141,809 per Sri Lankan household"

THIS comment is on the article “SOE losses costing Rs. 141,809 per Sri Lankan household” by the Advocata Institute in the Daily FT of 5 April 2024.

3 mins

Powering Sri Lanka's future: Why solar farms offer unparalleled investment opportunities

SRI Lanka, a nation of immense potential, stands at a critical juncture. Traditional economic drivers like tourism, exports, and the garment industry increasingly face global competition, necessitating a shift towards sustainable and innovative solutions. To secure a sustainable future and overcome current economic challenges, Sri Lanka must strategically leverage its abundant renewable energy resources, with a clear focus on solar power, which offers a bright new horizon. As the United Nations (2022) emphasises, reliable electricity is fundamental to economic prosperity, and the transition to clean energy is both an economic and environmental imperative.

4 mins

Entries called for PBDA All-Island Open Badminton Championship

ENTRIES are now being accepted for the Puttalam District All-Island Open Badminton Championships 2025, which is scheduled to be held from 26 May to 1 June at the Sir Albert F. Peiris Indoor Sports Complex in Wennappuwa. Organised by the Puttalam District Badminton Association (PBDA), the seven-day championship is expected attract of over 5,000 shuttlers, who will compete under different categories.

1 min

NDB Bank partners Ananda College and Jaffna Hindu College for Annual Sports Festival

NDB Bank has partnered with Ananda College and Jaffna Hindu College, Colombo for their annual joint sports festival, “උතුරින් නෑගම,” held on 4 April 2025 at the Ananda College premises, Colombo Colts Cricket Club and Blues Basketball Complex.

1 min

Allianz Lanka continues as Platinum Sponsor of St. Joseph's Rugby for 2025

ALLIANZ Lanka continues its long-standing partnership with St. Joseph's College, Colombo, as the Platinum Sponsor of the rugby team for the 2025 Dialog Inter-Schools Rugby Season.

1 min

NZ and SL players conduct sessions at KSC Rugby Academy

A joint training session took place at the Kandy Sports Club Rugby Academy at the Nittawela Rugby Stadium recently by the New Zealand and Sri Lankan players for the young rugby players from Central.

1 min

Titans brawl for a place in the Knockout Final

Trinity vs Zahira at Royal Sports Complex on 9 May:

3 mins

Scheffler claims emphatic first win of year

SCOTTIE Scheffler secured his first win of 2025 with a dominant display at the CJ Cup Byron Nelson in Texas.

1 min

Experienced Sri Lanka face NZ Under 85 kg in second match on Saturday

SRI Lanka rugby fraternity was left stunned after a 50-point heavy defeat to a well-drilled New Zealand Under-85kg outfit in the first leg of their tour at Nittawela Stadium in Kandy last weekend.

3 mins

Inter vs Barca semi-final: The game nobody wanted to end

“IT gave us everything. From start to finish last week to this week, everything about this semi-final has been pure entertainment,” said Alan Shearer.

1 min

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