CSE Plunges on global trade war fears as Trump announces 104% China tariffs

The Colombo Stock Exchange (CSE) suffered heavy losses Thursday as investors fled risky assets following U.S. President Donald Trump’s shock announcement of 104 percent tariffs on Chinese imports, reigniting fears of a full-blown global trade war.

Hayleys PLC acquires 10.83% stake in DIMO for Over Rs. 1 billion

Dhammika Perera controlled Hayleys PLC has acquired a 10.83 percent stake in Diesel and Motor Engineering PLC (DIMO) through a series of transactions worth over Rs. 1.04 billion, according to a disclosure filed with the Colombo Stock Exchange (CSE).

Developing Asia Faces Slower Growth, Lower Inflation Through 2026: ADB

The Asian Development Bank (ADB) said forecasts for the region, finalized before the United States (US) announced new tariffs on 2 April, project growth in developing Asia and the Pacific to moderate this year and next.

Siyapatha Finance PLC announces Rs.5 Billion Debenture Issue to bolster capital

Siyapatha Finance PLC, a leading non-banking financial institution, announced today a move to raise up to Rs. 5 billion through the issuance of listed, rated debentures.

CSE surges past 15,000- mark with 467-point rally amid renewed optimism

The Colombo Stock Exchange (CSE) staged a dramatic rebound on Thursday, with the All-Share Price Index (ASPI) soaring 467.26 points, or 3.19 percent, to close at 15,127.71, decisively breaching the critical 15,000 psychological barrier.

TikTok expands parental controls to boost teen safety

Popular social media platform, TikTok announced major updates to its Family Pairing tool on Sunday, granting parents enhanced oversight and teens tools to foster healthier digital habits.

Sri Lanka-India yacht clubs expand reciprocal access to boost marine tourism

The Chamber of Marine Industry in Sri Lanka (CMISL) and India’s Royal Madras Yacht Club (RMYC) network, comprising four centers across Chennai, Ennore, Mysuru, and Puducherry, have inked a Memorandum of Understanding (MOU) to extend reciprocal privileges to their members, effective April 3, 2025.

ASPI plunges over 700 Points below 15,000 as global trade fears grip market

The All Share Price Index (ASPI) tumbled over 700 points today, crashing below the 15,000 mark as global economic tensions spilled over into the Colombo Stock Exchange (CSE).

CSE Expands Reach with New Bandarawela Branch

The Colombo Stock Exchange (CSE) has further extended its footprint with the official opening of its newest branch in Bandarawela, reinforcing its commitment to enhancing accessibility for investors across Sri Lanka.

Sri Lanka’s handloom takes center stage at ‘Ransalu’

Sri Lanka’s rich handloom heritage took center stage at the ‘Ransalu’ National Handloom and Textile Industry Sales Fair.

CSE dips again amid ongoing global trade tensions

The Colombo Stock Exchange (CSE) extended its losses as uncertainty over global tariff negotiations continued to weigh on investor sentiment. The latest U.S. tariff impositions have triggered widespread economic turbulence, further dampening the Sri Lankan market.

LankaPay to launch WeChat Pay integration within two weeks

LankaPay is poised to significantly enhance Sri Lanka’s appeal to Chinese tourists by launching WeChat Pay integration within two weeks. This initiative will enable over 400,000 LANKAQR merchants nationwide to accept mobile payments directly from Chinese visitors, according to LankaPay CEO Channa De Silva.

Sri Lanka’s No. 1 export to the US faces a potential 20% hit under tariffs

On 2 April, US President Donald Trump imposed a 44 percent tariff on Sri Lankan exports to the United States. With apparel comprising 64 percent of these exports—valued at nearly USD 1.8 billion in 2023—Sri Lanka’s apparel industry is likely to suffer the greatest impact.

Panic selling grips market as US tariffs trigger sharp decline

The sudden imposition of steep U.S. tariffs—rising from 12 percentage to 44 percentage—has rattled investor confidence, sending markets into a tailspin. With further details on the revised tax structure still pending, export-driven firms are bracing for a significant dent in revenue.

HNB pulls out of Bank Alfalah Bangladesh acquisition plans

Hatton National Bank (HNB) of Sri Lanka has withdrawn its non-binding offer to acquire Bank Alfalah’s operations in Bangladesh.

JKH exits Tea Smallholder Factories, LOLC's Udapusslaewa acquires 37.59% stake

John Keells Holdings PLC (JKH) has divested its entire 37.62 percent equity stake in Tea Smallholder Factories PLC for a total of Rs.395 million. Udapusslaewa Plantations, a unit of LOLC has acquired 37.59 percent stake for total of Rs. 394.68 million, according to a filing with the Colombo Stock Exchange (CSE).

SL slapped with 44% reciprocal tariff by US

Sri Lanka has been slapped with 44 percent reciprocal tariff by the US, which would impact the local export sector, particularly apparel.

Investor optimism drives ASPI back above 16,000 mark

The Colombo bourse extended its rally for a second consecutive session, closing above the 16,000 mark amid strong trading activity. The All Share Price Index (ASPI) gained 73.04 points to settle at 16,007.44, bringing its cumulative monthly increase to 192 points.

Colombo bourse kicks off on bullish note

The Colombo Stock Exchange (CSE) opened April on a strong footing, with the All-Share Price Index (ASPI) gaining momentum to close with bullish sentiment. Trading activity was marked by significant volatility, as dividend counters dragged the market down while capital goods sector stocks provided upward support. The ASPI rebounded from its intraday low, surging by 224 points to end the session on a positive trajectory.

Laugfs increases LP gas prices

The price of 12.5kg domestic Laugfs Gas cylinders has been increased by Rs.420 with effect from today.

First BYD deliveries begin in Sri Lanka

BYD, a global leader in New Energy Vehicles (NEVs), has commenced its first customer vehicle deliveries in Sri Lanka following the lifting of import restrictions.

6.8 million TINs issued for easier access to government services

A total of 6.8 million Taxpayer Identification Numbers (TINs) have been issued so far for the citizens in the country, making it easier for them to obtain government services, Inland Revenue Commissioners Association President and Senior Commissioner M.A. Priyanka sai

Need to create trend to encourage tax payments: Deputy Minister

A trend must be created in the country to motivate people to pay their taxes, Deputy Minister of Labour and Economic Development A. Anil Jayanta Fernando said.

Softlogic Life PLC to acquire Allianz Life Insurance Lanka Limited

Softlogic Life Insurance PLC has agreed to buy all shares of Allianz Life Insurance Lanka Limited from Allianz SE, taking full ownership of the company.

Remittances from Sri Lankan workers surge by 16.3%

While recording a 16.3% rise, foreign remittances sent through the banking system by Sri Lankan workers saw a significant increase by the end of February this year, the Sri Lanka Bureau of Foreign Employment (SLFEB) said.

CBSL keeps Overnight Policy Rate (OPR) unchanged

The Monetary Policy Board decided to keep the Overnight Policy Rate (OPR) at 8.00 peecent at its meeting held yesterday.

IRD on track for new risk-based refund system launch in October

The Inland Revenue Department (IRD) says the new proposed new risk-based refund system replacing current SVAT system is on track to go live from October onwards despite reservations from exporters.

Royal Madras Yacht Club to launch first Chennai-Sri Lanka sailing expedition

The Royal Madras Yacht Club, together with IndSri Ferry Services Lanka Pvt Ltd, is set to launch the first international sailing expedition from Chennai to Sri Lanka, lasting seven days.

Sri Lanka & Australia to discuss economic and maritime cooperation this week

Sri Lanka and Australia are set to take stock of their economic partnership and maritime cooperation as they convene the 05th Round of Senior Officials Talks and the 03rd Strategic Maritime Dialogue in Canberra from March 25-26, 2025.

WCIC calls for support and justice following attack on female doctor

The Women’s Chamber of Industry and Commerce (WCIC), has issued a strong condemnation of the recent sexual assault on a female doctor at Anuradhapura Teaching Hospital.