War in West Asia
With the war in West Asia resulting in significant economic challenges for Sri Lanka, the Government has appointed an Economic Monitoring Committee headed by Finance Deputy Minister Dr. Anil Jayantha Fernando to deal with related issues. Picture shows the committee’s first meeting on Monday.
Sri Lanka legalises online betting, targets grey market
Sri Lanka’s new Gambling Regulatory Authority (GRA) is to bring online betting onboard under a structured, high-tax legal framework in a state of rapid transition from an unregulated “grey market”. Online betting is now legally recognised under the Gambling Regulatory Authority Act, No. 16 of 2025, a senior Finance Ministry official told the Sunday Times [...]
NDB Investment Bank eyes global markets
NDB Investment Bank has aggressive growth plans for the next three years, to extend its business from onshore to offshore, offshore to onshore, and to conduct offshore transactions in other markets. “We intend to grow our market share locally and follow our clients into the overseas market. Most of our large institutional clients have grown [...]
Strong call to address critical funding gap for start-ups
financing from sources like angel funds and venture capital (VC), capping in liquidity events such as IPOs or acquisitions within 5 to 12 years. Notable successes from our portfolio include exits like nCinga and Roar, as well as listings like InsureME. Our current fund faced taxes on profits from exits in the year they arose, [...]
Major shipping line opts out of West Asia
MSC, one of the largest container carrier shipping lines, has declared ‘end of voyage’ asking shippers and consignees to take responsibility for goods dropped off at ports bound for war-affected West Asia. Notifications have already been sent to the industry declaring end of voyage “on all shipments currently under MSC’s custody and care, whether located [...]
Exploiting the downtrodden
With the West Asian conflict swirling around us, in addition to other distractions, some serious stuff confronting sections of the population seems to have been conveniently put on the back burner. One such issue is the Microfinance and Credit Regulatory Authority Act 2026 passed in Parliament on March 4, which Deputy Minister of Finance and [...]
Poems of curse and blessing
Years ago, I lived in the suburbs of Colombo and commuted daily to the University of Colombo in a 45‑minute journey. By the main road, on one side there was a rubber estate, the other – a residential area. Early in the morning, some motorists on bikes, tuk‑tuks, cars, and vans would bring their household [...]
Political will and constitutional stability; key to implement effective change, says public policy expert
While there are complex issues surrounding accountability, public civil service and institutional independence in Sri Lanka, it explores historical and current challenges, emphasising how political influences, constitutional frameworks, and institutional weaknesses have impacted the effectiveness and perception of public institutions. Recently the Bandaranaike Academy for Leadership and Public Policy (BALPP) organised an event on the [...]
Urgent need for energy independence amid raging conflicts
Sri Lanka faces a pivotal moment in its energy and economic future due to its heavy dependence on imported fossil fuels. The recent geopolitical conflicts in West Asia, global price volatility, and internal economic crisis have exposed vulnerabilities in the country’s reliance on fossil fuels, highlighting the urgent need for energy independence. Transitioning to renewable [...]
Government revamps Vehicle Emission Testing
The Vehicular Emission Test (VET) Trust Fund and the Vehicle Emission Testing programme in Sri Lanka are undergoing significant structural and regulatory transitions. It is being integrated into the Treasury in accordance with the provisions of the Public Financial Management Act No. 44 of 2024, the VETTF, a Finance Ministry official told the Sunday Times [...]
Developments at Ambewela Farms
Ambewela Dairy Farms, recently welcomed Minister of Agriculture, Livestock, Land, and Irrigation K.D. Lalkantha and also the Deputy Minister of Education and Higher Education Dr. Madhura Senevirathne to its farm. This special visit was made with the objective of reviewing the comprehensive development drive at Ambewela, propelling the farm towards significant advancements, the company said [...]
CICT – first Colombo terminal to secure Dual ISO Certifications
Colombo International Container Terminals (CICT) has become the only container terminal in the Port of Colombo to secure both ISO for Occupational Health and Safety Management and Environmental Management, marking a significant operational milestone for the port. This comes in the wake of the Port of Colombo facing high competition amongst other regional ports, the [...]
DFCC’s Blue Bond listed in Luxembourg Exchange
DFCC Bank PLC has seen supplementary international listing of its pioneering Blue Bond on the Luxembourg Stock Exchange (LuxSE), with the bond displayed on the Luxembourg Green Exchange (LGX), and on the India International Exchange (India INX) at GIFT City, Gujarat, India. With these latest admissions, DFCC Bank’s Blue Bond now connects Sri Lanka’s sustainable [...]
Some BOI firms now selling to the local market
Several companies that secured approval under Section 17 of the Investment Board Act of 2002 to function strictly as export-oriented manufacturers have transitioned into domestic market operations inflicting significant pressure on Sri Lanka’s local industries. These firms have been registered under the BOI (Board of Investment) Act, which offered generous fiscal and administrative concessions to [...]
GovTech replaces ICTA, set up in 2003
GovTech has been set up under the Ministry of Digital Economy, replacing the Information Communication Technology Agency (ICTA), launched in 2003, aiming to improve digital technology services and advance Sri Lanka’s digital transformation. Deputy Minister Eranga Weeraratne told the media on Wednesday that GovTech will have a stronger institutional framework focused on policy development and [...]
Case for a Mandatory Customer Relations Course, Concentration in MBA Curriculums
This article is about Customer Relations and the Business Process, and why there is a need for critical discussion and systemic change to value Customer Relations in advanced degrees and courses in tertiary education. Why are more courses not taught specifically about Customer Relations and its significance to business? Why does it seem more like [...]
Sri Lanka can learn from Australia’s Governance Model
As Sri Lanka continues its economic recovery following the financial crisis of recent years, policymakers and investors are increasingly focused on how the country can rebuild long‑term credibility in its institutions. Economic stabilisation alone is not sufficient to attract sustained investment. What global investors ultimately look for are systems that are predictable, transparent and consistently [...]
Pussalla exports Sri Lankan poultry
Pussalla Meat Producers (Pvt) Ltd has formally commenced structured export operations of poultry products from Sri Lanka. This marks one of the most important milestones in the company’s journey over the four decades, as it transitions from being predominantly a local supplier to an exporter capable of meeting the demands of international markets. Pussalla has [...]
New recognition awards for auto industry soon
PR Wire (Pvt) Ltd, in partnership with the Automobile Industry Council, has announced a new collaboration to elevate the image, influence and future of Sri Lanka’s automobile industry through the inaugural Automobile Awards. This first ever edition of the awards is designed to be more than just a ceremony; it is a national platform that [...]
Government launches sweeping tariff reforms to boost exports
The government is initiating a phased removal of para-tariffs including the Cess and Port and Airport Development Levy (PAL) to modernise its trade policy and improve export competitiveness. This initiative aims to shift from protective, complex import taxes to a more transparent, four-band structure (0, 10, 20, 30 per cent) by April 1, 2026. This [...]
Improving the life insurer performance measure
A key regulatory development determining the next phase of the industry is IFRS 17, which will critically change how life insurers measure performance. Historically, many Sri Lankans have viewed insurance mainly as a short‑term expense or a discretionary purchase, but rising healthcare costs and longer life expectancy stress the need for long‑term financial protection, especially [...]
‘Reserves’ redefined under new IRD bill
In the delicate balance of Sri Lanka’s economic recovery, fiscal policies must foster growth rather than hinder it. The proposed Inland Revenue (Amendment) Bill of 2026, particularly Clause 4’s revision to Section 18 of the Inland Revenue Act No. 24 of 2017, threatens this equilibrium. By redefining “reserves” to include negative retained earnings and accumulated [...]
Ogilvy clinches 6 Effie Metals
Ogilvy Group Sri Lanka secured a total of six metals, one Gold, three Silver and two Bronze, along with eight finalist recognitions across its Digital, Creative and Media agencies at the SLIM Effie Awards 2025, held recently, A major contributor to the group’s metal haul was Ogilvy Digital’s standout campaign “When the Trees Lament” for [...]
NDB raises SL’s largest Basel III-Compliant Thematic Bond
National Development Bank PLC (NDB) recently announced that it successfully raised Rs. 16 billion through the issuance of Basel III-compliant Tier II Rated Unsecured Subordinated Redeemable GSS+ Bonds (the GSS+ Bonds), to be listed on the Colombo Stock Exchange (CSE). This issuance marks a major milestone in thematic fundraising within Sri Lanka’s capital markets landscape, [...]
SME development
The People’s Bank recently conducted a programme for SME entrepreneurs at the Mirigama Divisional Secretariat. It was conducted by Wickram Narayana, DGM at the bank in charge of SME development.
Central Bank buying dollars
The Central Bank doubled its purchase of US dollars in the market last month, mopping up $461 million from the money markets against $209 million in January 2026. Money market dealers said this was to prop up foreign exchanges reserves to over $7 billion in line with IMF targets. They said the market was also [...]