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Nishel Fernando

EV surge reshapes Sri Lanka’s auto market

12 Jul 2025

12

A significant shift is underway in Sri Lanka’s newly reopened vehicle market, with consumer demand increasingly favouring electric models.

Sri Lankan apparel brands demand 300-400% CESS hike to combat ‘cheap’ imports

10 Jul 2025

11

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.

Industry leader warns of “digital isolation” as new VAT threatens to derail Sri Lanka’s ICT sector

10 Jul 2025

7

With Sri Lanka’s new 18 percent Value Added Tax (VAT) on foreign digital services now a settled policy taking effect this October, focus has sharply shifted to its potential economic fallout.

Temu imports linked to Rs. 35–50mn daily duty fraud

09 Jul 2025

26

A significant duty fraud scheme involving courier imports from popular e-commerce platforms like Temu is causing a daily loss of between Rs. 35 to 50 million in tax revenue to the Sri Lankan government, industry leaders claimed at a press conference held in Colombo this week.

NTC pushes digital shift with transit cards, Google Maps despite audit heat

08 Jul 2025

4

The National Transport Commission (NTC) is advancing its plans to modernise Sri Lanka’s public transport system by introducing a prepaid transit card and integrating bus routes into Google Maps.

Potential Trump tariffs could trigger 50,000 job losses initially, warns FTZMA

08 Jul 2025

1

Sri Lanka’s economy is bracing for a potential shockwave, as the Free Trade Zone Manufacturers Association (FTZMA) warns that the proposed tariffs by President Donald Trump could lead to a loss of approximately 50,000 jobs in the initial stages and render the nation uncompetitive in the South and Southeast Asian region.

UNDP warns household debt crisis worsening

05 Jul 2025

2

The United Nations Development Programme (UNDP) warned that Sri Lanka’s household debt crisis has likely intensified since last measured in 2023, as it threw its weight behind a major new financial literacy drive with the Central Bank.

June tourist arrivals surge with Bohra Convention

02 Jul 2025

0

Sri Lanka’s tourism sector witnessed a significant uptick in arrivals this June, propelled by the influx of devotees for the Bohra Convention.

Sri Lanka must target over 8% growth through innovation overhaul: Top economist

27 Jun 2025

15

Sri Lanka must shift its focus towards fostering innovation, empowering entrepreneurs, and moving beyond its current economic trajectory to achieve a prosperous future with a sustained growth rate of over 8

Customs defends halt on cross-border LC vehicle imports, cites widespread duty fraud

27 Jun 2025

0

Sri Lanka Customs yesterday defended its recent decision to halt the clearance of vehicles imported under cross-border Letters of Credit (LCs), citing the measure as a crucial step to combat significant tax evasion through fraudulent under-valuation.

Hundreds of vehicles stranded as Sri Lanka Customs enforces decade-old import rule

26 Jun 2025

20

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 cross-border Letters of Credit (LCs) starting May 26 , this year.

Insurance a ‘powerful engine’ for Sri Lanka’s economic revival: expert

20 Jun 2025

8

The insurance industry can serve as a powerful engine for Sri Lanka’s economic revival and stability, lessening the heavy reliance on taxation for funding national development, according to Willis Towers

Public banks must evolve from lenders to outcome-oriented partners to fuel innovation: Top Economist

20 Jun 2025

5

Public banks must transform from mere financiers into strategic, outcome-oriented partners to drive the mission-led innovation needed for economic transformation, according to a top economist.

IRD clears significant VAT refund backlog

19 Jun 2025

2

The Inland Revenue Department (IRD) has disbursed a large portion of its long-standing tax refund backlog this year, following a targeted intervention by the Finance Ministry to address a major grievance within the business community.

Colombo Dockyard nears deal with new investor to steer turnaround

12 Jun 2025

0

Colombo Dockyard PLC (CDPLC) is in the final stages of formalising an agreement with a new strategic investor, a pivotal move that is considered to be essential to navigate out of a “vulnerable” financial position and secure a “bright future”.

Visa bolsters SL’s tourism revival with Asia Pacific Leadership Summit in Colombo

12 Jun 2025

0

In a significant boost to Sri Lanka’s tourism ambitions, global payments giant Visa announced it will host the Asia Pacific Leadership Summit in Colombo.

No further operational halts at East Container Terminal - SLPA

11 Jun 2025

3

The Sri Lanka Ports Authority (SLPA) yesterday moved to reassure the shipping industry an end to operational shutdowns at the East Container Terminal (ECT) previously required for construction.

Six parties bid for port digitisation deal

06 Jun 2025

4

Six parties have submitted bids for the much-awaited Port Community System (PCS), an initiative considered as a crucial step towards digitising port operations and a stepping stone towards the

Colombo Port transshipment decline enters 4th month; April dips 5.8%

05 Jun 2025

8

The Port of Colombo’s transshipment volumes recorded a 5.8 percent year-on-year (YoY) decline in April 2025, reaching 495,456 twenty-foot equivalent units (TEUs), marking the fourth consecutive month of slowdown in this crucial segment.

SVAT repeal expected to add Rs.191bn annually to VAT coffers

05 Jun 2025

2

The upcoming repeal of the Simplified Value Added Tax (SVAT) regime is projected to significantly bolster Sri Lanka’s Value Added Tax (VAT) revenue, with an estimated additional Rs.191 billion expected to flow into state coffers annually.

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2026 FIFA World Cup Schedule in Sri Lankan Standard Time

2026 FIFA World Cup Schedule in Sri Lankan Standard Time

Breaking Down the Israel–Iran Conflict: What We Know So Far - Day 135

Breaking Down the Israel–Iran Conflict: What We Know So Far - Day 135

House of Fashions owner remanded after Customs arrest

House of Fashions owner remanded after Customs arrest

SriLankan aircraft circle Middle East skies for over an hour due to airspace closures

SriLankan aircraft circle Middle East skies for over an hour due to airspace closures

FIFA World Cup 2026 Finals Bracket and Results: Spain’s Road to the Title

FIFA World Cup 2026 Finals Bracket and Results: Spain’s Road to the Title

Taiwan suspends tourist visa for Sri Lankans

Taiwan suspends tourist visa for Sri Lankans

Sri Lankan-run dealership convicted in New Zealand’s first odometer tampering case: The Press

Sri Lankan-run dealership convicted in New Zealand’s first odometer tampering case: The Press

Former UNP Councillor arrested over Rs. 160 million fraud

Former UNP Councillor arrested over Rs. 160 million fraud

Former IGP C.D. Wickremaratne dies in suspected suicide

Former IGP C.D. Wickremaratne dies in suspected suicide

Underground chamber found under the school turns out to be neighbour’s garage

Underground chamber found under the school turns out to be neighbour’s garage

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