Business

A Sri Lankan government delegation is set to depart for the United States on Friday (18) to hold negotiations aimed at reducing tariffs on Sri Lankan exports, Foreign Minister Vijitha Herath said today

The Colombo Stock Exchange (CSE) reached a significant milestone today (11) as the All Share Price Index (ASPI) surpassed the 18,500-points mark for the first time in the capital market’s history.

The reduction in US reciprocal tariff on exports from Sri Lanka to 30% from previously announced 44% is positive news for local businesses, however the rate is a substantial increase from the existing 10% duty, Economist Dhananath Fernando stated.

Sri Lanka’s domestic clothing brands are calling for a drastic 300 to 400 percent increase in the Commodity Export Subsidy Scheme (CESS) levy on the imported apparel, arguing it is a critical step to ensure the survival and competitiveness of the local industry in its own market.

U.S. President Donald Trump has reposted his official letter to Sri Lankan President Anura Kumara Dissanayake, after correcting a name error in the initial version that mistakenly referred to the President as “Aruna.”

Sri Lanka plans to introduce a property tax by the first half of 2027, according to the latest International Monetary Fund (IMF) review under the Extended Fund Facility (EFF).

City of Dreams Sri Lanka, South Asia’s first integrated resort, announced that its grand opening on 2 August 2025 will be strictly by invitation only.

President Donald Trump said Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States, a clear shift from earlier pledges to strike scores of individual deals.

Sri Lanka’s GDP could decline by up to 1.5 percent if the United States reinstates a 44 percent tariff on Sri Lankan exports and lowers tariffs on competitor trading partners, according to an IMF country report.

AliExpress has officially suspended several of its budget shipping options to Sri Lanka and Pakistan following the implementation of revised customs tax regulations by the respective authorities.