Business News
Business LNP - Trump Tariff: Exports volume will reduce but real challenge is rates of Sri Lanka’s competitors – expert
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…
Business LNP - Sri Lankan apparel brands demand 300-400% CESS hike to combat ‘cheap’ imports
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…
Business LNP - Indian Defence Ministry Company set to anchor strategic influence in Colombo Port
India is poised to secure another strategic investment in Sri Lanka with plans by its public sector company under the Indian Defence Ministry, 'Mazagaon Dock…
Business LNP - 500,000 students and 150,000 teachers to benefit from World Bank education funding
An estimated 500,000 students and 150,000 teachers across Sri Lanka are set to benefit from a new $50 million additional financing package approved by the…
Business LNP - Hundreds of vehicles stranded as Sri Lanka Customs enforces decade-old import rule
Hundreds of vehicles are stranded at the port, with hundreds more on the way, after Sri Lanka Customs abruptly halted the clearance of vehicles imported under…
Business LNP - MR, Maithri, Ranil, Basil, others involved in USD 110 million cattle import scam: MP
Former Presidents Mahinda Rajapaksa, Maithripala Sirisena, Ranil Wickremesinghe, former Ministers Basil Rajapaksa, P. Harrison, Wijith Wijithamuni de Soysa,…
Business LNP - Over 73,000 new vehicle registrations recorded following relaxation of imports: DMT
Following the recent relaxation of vehicle imports, the Department of Motor Traffic (DMT) announced today that a total of 73,489 new vehicle and electric car…
Business LNP - Oil soars more than 6% after Israel’s strike on Iran alarms market
Oil prices jumped more than $4 a barrel on Friday, hitting their highest price in almost five months after Israel struck Iran, dramatically escalating tensions…
Business LNP - Valaichchenai Paper Mill now generating profit: Handunneththi
The state-owned Valaichchenai Paper Mill is currently operating at a profit, according to Minister of Industry and Entrepreneurship Development Sunil…
Business LNP - Businessman penalised for selling expired medicines
A businessman has been handed a suspended six-month prison sentence and fined Rs. 10,000 after being found guilty of displaying expired medicines for sale at a…
Business LNP - Coconut harvest to drop further this year, imports to continue
The Coconut Research Institute has forecast a further decline of 250 million nuts crop for the first half of 2025 harvest during the first half of this year…
Business LNP - Sugar importers warn against tax hike
The sugar importers have urged President and Finance Minister Anura Kumara Dissanayake not to increase the existing sugar import tax, warning that it would…
Business LNP - Govt. earns Rs. 136 b from vehicle imports in 4 months
The Government has generated Rs. 136 billion in revenue from motor vehicle imports between January and April 2025. This figure includes collections from Value…
Business LNP - 18,000 MT of maize to be imported for ‘Thriposha’ production
The Cabinet of Ministers has granted approval to issue a permit to the Sri Lanka Thriposha Limited Company to import 18,000 metric tons of maize. Accordingly,…
Business LNP - Sri Lankan economy remains resilient supported by healthy inflows: CBSL
The external sector of the Sri Lankan economy remained resilient in April 2025, supported by healthy inflows from tourist earnings and workers’ remittances,…
Business LNP - Colombo Stock Exchange records landmark single-day turnover
The Colombo Stock Exchange (CSE) recorded a significant milestone today (27), with its total market turnover reaching Rs. 18.7 billion, one of the highest…
Business LNP - UK Trade Envoy on inaugural visit to Sri Lanka
The UK Prime Minister’s Trade Envoy for Sri Lanka, Lord Hannett of Everton, is visiting Colombo from 25 to 28 May. This is his first visit to Sri Lanka…
Business LNP - Sri Lanka and New Zealand discuss ways to deepen bilateral trade and investment ties
Debt-stricken Sri Lanka hosted one of New Zealand’s top ministers to discuss ways to deepen bilateral ties in areas such as trade, tourism and agriculture.…
Business LNP - India overtakes Japan to become the fourth-largest economy: NITI Aayog CEO
India overtakes Japan to become the fourth largest economy in the world, Aayog CEO BVR Subrahmanyam has said. Subrahmanyam says the overall geopolitical and…
Business LNP - Malini Fonseka’s remains brought to National Film Corporation
The body will lie in state at the Tharangani Hall of the National Film Corporation today, while the public will also be given an opportunity to pay their…
Business LNP - Increasing productivity to attract investments vital for Sri Lanka - PM Harini
Prime Minister Dr. Harini Amarasuriya stated that the development of a country depends on the productive contribution its citizens make towards the nation. The…
Business LNP - Two Sri Lankan entrepreneurs shine on Forbes 30 Under 30 Asia list
Sri Lanka celebrates a key milestone as two of its young and emerging entrepreneurs Yanika Amarasekera-Siyaguna and Charith N Silva, have been named to the…
Business LNP - Excise gains record revenue of Rs. 83 billion in first four months
A record gain of revenue amounting to over Rs. 83 billion has been achieved by the Department of Excise during the first four months of this year, even…
Business LNP - Sri Lanka records surge in tourist arrivals and earnings in early 2025
The Sri Lanka Tourism Development Authority (SLTDA) reports that 33,910 international tourists arrived in the country during the first week of May 2025,…