# lankabiznews.com > Independent Business News in Sri Lanka – Economy, Industry, and Innovation ## Posts - [Sri Lanka's Construction Industry to face challenges with VAT Rise](https://lankabiznews.com/sri-lankas-construction-industry-faces-challenges-with-vat/): The recent surge in Value Added Tax (VAT) in Sri Lanka has cast a shadow over the construction industry, heralding a challenging period ahead. As the government implements this tax increase, the construction sector finds itself grappling with heightened financial pressures. This surge in VAT is expected to have a cascading effect, influencing various facets of the industry, from project costs to overall investment climate. - [The convenience of contactless payments](https://lankabiznews.com/the-convenience-of-contactless-payments/): Given the convenience of contactless payments, Sri Lankans now simply tap their cards to pay while checking out at a retail store, without the hassles of carrying cash, making the shopping experience even more convenient and rewarding, says Visa Country Manager Sri Lanka and Maldives Avanthi Colombage. The festive season is a time of celebration, gift-giving, and spending for many consumers around the world and for Sri Lankans. This season is looking positive with many consumers out and about again, for possibly one of the brightest holiday seasons in the past few years. There is a visible increase in footfalls at […] - [SME sector seek temporary halting of parate executions](https://lankabiznews.com/sme-sector-seeks-short-term-stop-parate-executions/): As the business community awaits a response, there is anticipation for proactive measures to be taken. A collaborative approach between policymakers, financial institutions, and SME representatives could pave the way for a strategic resolution. The government's role in facilitating economic recovery becomes crucial, and a thoughtful response may involve a reassessment of existing laws and financial restructuring to align with the current economic challenges. - [Bridging the Skills Gap: Sri Lanka's Employment Challenge](https://lankabiznews.com/sri-lankas-employment-challenge-in-meeting-labour-needs-globally/): Sri Lanka's employment challenges can be overcome by addressing the skills gap and thereby ensure greater inclusion in the global workforce. The nation's journey toward a skilled and competitive workforce requires concerted efforts, focusing on education, vocational training, and strategic policy initiatives. - [Sri Lanka's Economy Surges with a 1.6% Boost in Q3 2023](https://lankabiznews.com/sri-lankas-economy-surges-ahead-with-growth/): Sri Lanka's economic recovery in recent years has been a multifaceted journey marked by resilience, reform, and strategic policy initiatives. The island nation faced significant economic challenges, including high debt levels, a trade deficit, and the impact of the COVID-19 pandemic. However, a series of measures implemented by the government has contributed to a gradual turnaround. - [Sri Lanka Tourism Surges with Record-Breaking Foreign Tourist Arrivals in November 2023](https://lankabiznews.com/sri-lanka-tourism-surges-with-tourist-arrivals/): In a remarkable turn of events, Sri Lanka’s tourism industry experienced an unprecedented surge in foreign tourist arrivals, reaching a staggering 153.5% year-on-year increase in November 2023. This remarkable growth follows a 159.8% jump in the previous month, signaling a robust start to the peak tourism season and favorable conditions in the country. This blog post delves into the key factors contributing to this surge, the prominent markets driving the influx of tourists, and the overall impact on Sri Lanka’s tourism landscape. Sri Lanka Tourism Season Kickstarts November November 2023 marked a turning point for Sri Lanka’s tourism industry, with a […] - [Unlocking Sri Lanka'sVAT Insights: The Impact on the Economy](https://lankabiznews.com/sri-lankas-vat-insights-the-impact-on-the-economy/): Sri Lanka's VAT insights give a picture of challenging circumstances. As Sri Lanka prepares to embrace the VAT surge in 2024, it signifies a strategic move to address fiscal challenges head-on. The journey of VAT evolution, coupled with insights from experts, debunks misconceptions and underscores its efficiency in maintaining fiscal equilibrium. The impending changes pave the way for a nuanced understanding of VAT's role in shaping Sri Lanka's economic trajectory. - [AB Mauri Sets New National Standard For Baking In Sri Lanka](https://lankabiznews.com/ab-mauri-sets-new-national-standard-for-baking-in-sri-lanka/): Commitment to national baking industry stresses high quality & excellence training AB Mauri Lanka Pvt Limited, a leader in yeast and bakery ingredient solutions, has reached new heights in National Vocational Qualification (NVQ) for its employees.  Recently, more than two dozen employees successfully completed nationally recognized NVQ certification training on multiple levels that assess individual capabilities, competencies and skills in specific job roles and responsibilities. “We are committed to empowering the baking industry in Sri by helping provide high-quality finished baked goods,” said Surajdeen Seiyad, Director AB Mauri Lanka Pvt Limited.  “Our team maintains high standards, and this certification training is […] - [Sri Lanka’s retail digital transactions to potentially reach Rs 77.2 trillion](https://lankabiznews.com/sri-lankas-retail-digital-transactions/): Digital transaction can potentially reach up to Rs 77.2 trillion by 2027. Sri Lanka’s total volume of  retail digital transaction can potentially reach up to Rs 77.2 trillion by 2027 according to insights provided by Robocash Sri Lanka Sri Lanka. This projection represents a substantial 128% increase from the 2022 level. The company’s optimistic outlook hinges on the assumption that key macroeconomic indicators will either stabilize or exhibit positive trends over 12 quarters, commencing in 2024. Even in a less favorable long-term scenario, Robocash Sri Lanka anticipates that the total volume of digital retail payments in the country could still reach […] - [The Hambantota Oil Refinery is a Strategic Investment Opportunity for Sri Lanka](https://lankabiznews.com/the-hambantota-oil-refinery-is-a-strategic-investment-opportunity-for-sri-lanka/): The Hambantota Oil Refinery is a Strategic Investment Opportunity for Sri Lanka Given its location in the heart of the Indian Ocean, the Hambantota Oil Refinery stands as a symbol of Sri Lanka‘s ambitious vision for economic growth and energy self-sufficiency. With the Sri Lankan government actively seeking a substantial investment of $3.85 billion USD from the Chinese energy giant Sinopec, this blog post will delve into the intricacies of this potential partnership. We will explore the significance of the Hambantota Oil Refinery, the implications of the Sinopec investment, and the broader economic and geopolitical implications. The Hambantota Oil Refinery: A […] - [AB Mauri Star Awards – 2023](https://lankabiznews.com/ab-mauri-recognizing-star-performers-with-ab-mauri-star-awards/): AB Mauri, a global leader in bakery ingredients, recognizing star performers with AB Mauri Star Awards 2023 – “Rising Above. Leading the Way.” AB Mauri Lanka, one of the world’s leading global brands in the yeast and bakery ingredients industry, recently recognized key employee excellence at a special event, “AB Mauri Star Awards 2023 – “Rising Above. Leading the Way.” Affiliated with Associated British Foods plc and with a presence in 52 plants across more than 30 countries, AB Mauri maintains a strong commitment towards delivering premium quality ingredients that empower industrial and artisan bakers everywhere. In keeping with that globally […] - [Digital Technology for SMEs businesses](https://lankabiznews.com/digital-technology-for-smes-businesses/): How does Digital Technology Help SMEs Succeed? Digital technology plays an important role in the success of SMEs businesses. In today’s rapidly evolving business landscape, small and medium enterprises (SMEs) are finding new avenues for success through the adoption of digital technology. The integration of digital tools and strategies has revolutionized how SMEs operate, allowing them to compete globally. This article will explore how digital technology empowers SMEs to thrive, covering topics such as cost efficiency, market expansion, and improved customer engagement.  1.Enhancing Operational Efficiency- One of the primary ways digital technology aids SMEs in their journey to success is by […] - [President Wickremesinghe visits Huawei Company in China](https://lankabiznews.com/president-wickremesinghe-visits-huawei-company-in-china/): Agreement to be signed to provide Huawei’s support for the digitization of Sri Lankan schools. President Ranil Wickremesinghe, who is on an official four-day trip to China, led the delegation to Huawei’s research and development centre in Beijing yesterday (17). President Wickremesinghe highlighted his visit’s purpose, which is to discuss Sri Lanka’s future. Mr. Simon Lin, Senior Vice President of Huawei technologies and President of Huawei Asia Pacific, announced his company’s readiness to support an annual study program aimed at nurturing software and hardware engineers in Sri Lanka. He mentioned that Huawei has already initiated collaborations with several Sri Lankan universities, […] - [AB Mauri, Star Awards 2023](https://lankabiznews.com/ab-mauri-star-awards-2023/): AB Mauri, a global leader in bakery ingredients, recognizing star performers with Star Awards 2023 – “Rising Above. Leading the Way.”   AB Mauri Lanka, one of the world’s leading global brands in the yeast and bakery ingredients industry, recently recognized key employee excellence at a special event, “AB Mauri Star Awards 2023 – “Rising Above. Leading the Way.” Affiliated with Associated British Foods plc and with a presence in 52 plants across more than 30 countries, AB Mauri maintains a strong commitment towards delivering premium quality ingredients that empower industrial and artisan bakers everywhere. In keeping with that globally delivered promise, the […] - [Tips on reducing the risk of online payments](https://lankabiznews.com/tips-on-reducing-the-risk-of-online-payments/): Reducing the risk of online payments is essential to protect your financial security.Here are some tips to help minimize those risks:   Use Secure and Reputable Platforms:-Stick to well-known and reputable payment platforms and apps like PayPal, Venmo, Apple Pay, Google Pay, or your bank’s official app. Avoid using unfamiliar or unverified apps.   Enable Multi-Factor Authentication (MFA):-Whenever possible, enable MFA for your digital payment accounts. This adds an extra layer of security by requiring you to provide a second form of verification, such as a one-time code sent to your mobile device.   Create Strong Passwords:-Use strong and unique passwords […] - [The Sri Lankan women’s cricket team on a tour of victory](https://lankabiznews.com/sri-lankan-womens-cricket-team-on-a-tour-of-victory/): The Sri Lankan women’s cricket team on a tour of victory – Supported by leading Incense sticks and fragrance brand Cycle Pure Incense The Sri Lankan women’s cricket team under the astute leadership of Chamari Athapaththu has concluded a historic tour of England which yielded victory and success. The Sri Lankan women’s team was sponsored by Cycle Pure Incense, manufactured and marketed by Suwanda Industries, a joint venture of Cycle Agarabathie, India and Eswaran Brothers, Sri Lanka on the tour, enhancing the fragrance of victory for the determined female cricketers of Sri Lanka, says Anuradha Ekanayake, CEO of Suwanda Industries in […] - [Visa Celebrates 35 Years in Sri Lanka](https://lankabiznews.com/visa-celebrates-35-years-in-sri-lanka/): Unveils Visa Government Solutions for the market Colombo, August 28, 2023 – Today marks a significant milestone for Visa, the global leader in digital payments, celebrating its 35-years in Sri Lanka. This journey encapsulates the company’s unwavering commitment to the nation and signifies the pivotal role Visa has played in helping the country transition towards a comprehensive digital economy. Celebrating the milestone, Visa announced a pledge of LKR 13 million to The Asia Foundation to help support women-led small businesses in Sri Lanka. Chris Clark, Chairman for Asia Pacific, Visa, while reflecting on this journey said, “Visa has become an intrinsic […] - [Enabling SME sector in Sri Lanka to digitize payments can accelerate economic growth – Visa](https://lankabiznews.com/enabling-sme-sector-in-sri-lanka-to-digitize-payments-can-accelerate-economic-growth-visa/): As Sri Lanka focuses on economic recovery, transforming the digital payment landscape for businesses will be a strategic area to consolidate growth, says Avanthi Colombage, Country Manager for Visa in Sri Lanka and Maldives. Visa, a global leader in digital payments, believes that unlocking the potential that digitizing payments can offer to the SME (Small and Midsize Enterprise) or small business sector in Sri Lanka has the ability to accelerate the economy and drive growth. While Sri Lanka’s digital payments ecosystem is estimated to reach $7 billion in 2023[1], this is a small portion of all consumer spends, otherwise called digital […] - [Health benefits of Cod Liver Oil](https://lankabiznews.com/health-benefits-of-cod-liver-oil/): Cod liver oil is a popular dietary supplement derived from the liver of codfish. It has use for centuries due to its potential health benefits. Here are some key points about cod liver oil: Source: As the name suggests, cod liver oil is extracted from the livers of Atlantic codfish Nutritional Content: Cod liver oil is a rich source of essential nutrients. It’s including omega-3 fatty acids (EPA and DHA), vitamins A and D, and a small amount of vitamin E. Omega-3 Fatty Acids: EPA  and DHA are two types of omega-3 fatty acids found in cod liver oil. These fatty […] - [‘Visit Sri Lanka’ new tourism plan- President](https://lankabiznews.com/visit-sri-lanka-new-tourism-plan-president/): President Ranil Wickremesinghe announced that the government will be unveiling a new tourist plan called ‘Visit Sri Lanka’ that will be released in the upcoming months. He claimed the proposal is in the final stages of development and would be made public as soon as it is complete. President Wickremesinghe made this statement while attending the Award Ceremony and a Gala dinner of the ‘Bocuse d’Or 2023’ competition held at the Waters Edge Grand Ballroom yesterday (23) evening. The government aims to bring in 5 million tourists, of whom 2.5 million will be high-end visitors, President Wickremesinghe said while emphasizing the […] - [Visa and SAP join forces to make enterprise payments more efficient](https://lankabiznews.com/visa-and-sap-join-forces-to-make-enterprise-payments-more-efficient/): Singapore, 28 June 2023 – Visa today announced it has entered into a collaboration with SAP to streamline and simplify business-to-business (B2B) payments for enterprises, from businesses small to big, to government agencies and non-profit organisations. The collaboration, led out of Asia Pacific, marks the first time Visa, the world’s leading company in digital payments, and SAP, one of the world’s market leaders in enterprise application software, join forces to bring to life an innovation to embed payments into the SAP ecosystem through SAP Business Technology Platform (SAP BTP).   Around 99 per cent of the world’s largest companies are SAP […] - [What is Titanic tourism](https://lankabiznews.com/what-is-titanic-tourism/): Titanic tourism, which involves visiting sites associated with the RMS Titanic, has emerged as a significant industry attracting travelers from around the globe. This unique form of tourism appeals in the historical significance, pop culture influence, emotional connection, and allure of archaeological exploration. These factors have combined to create a thriving business that offers visitors a chance to delve into the story of the ill-fated ocean liner. The Titanic holds a special place in history as one of the most iconic and tragic maritime disasters. Its sinking in 1912 captured the world’s attention and left an indelible mark on popular culture. […] - [Why is digital transformation so relevant today?](https://lankabiznews.com/why-is-digital-transformation-so-relevant-today/): Digital transformation refers to the process of integrating digital technologies into various aspects of an organization’s operations, processes, and business models to fundamentally change how they operate and deliver value. It involves the adoption of digital tools, technologies, and strategies to enhance efficiency, improve customer experience, and drive innovation. Digital transformation encompasses a broad range of activities, such as digitizing manual processes, automating tasks, leveraging data analytics, implementing cloud computing, embracing artificial intelligence (AI), and utilizing internet-based communication and collaboration tools. The goal is to leverage digital advancements to streamline operations, optimize decision-making, and create new opportunities for growth and competitiveness. […] - [The Impact of Terminating the Simplified Value Added Tax (SVAT) Scheme on Sri Lanka's Apparel Industry](https://lankabiznews.com/simplified-value-added-tax-svat-scheme/): The recent decision to terminate the long-standing Simplified Value Added Tax (SVAT) scheme has left the Joint Apparel Association Forum (JAAF) deeply concerned and disappointed. As the representative body of the apparel industry, JAAF firmly believes that abolishing SVAT for exporters will have detrimental effects on a sector already grappling with declining exports. This abrupt decision not only jeopardizes business cash flows but also hampers efforts to achieve overall growth. They have raised the following concerns. Negative Impacts on the Apparel Industry The abolition of SVAT places an additional burden on an industry already under stress, especially in terms of company […] - [People's Leasing & Finance to acquire 33% of First Capital Holdings](https://lankabiznews.com/peoples-leasing-finance-to-acquire-33-of-first-capital-holdings/): People’s Leasing & Finance PLC (PLC) has announced the proposed acquisition of a 33% stake in First Capital Holdings PLC(FCH), signaling the beginning of a new chapter of business growth through horizontal integration and diversification as a powerhouse of growth in the financial sector. With the proposed acquisition which is subject to the approval of Central Bank of Sri Lanka and all other regulatory authorities applicable, PLC will be expanding their product and service offerings, resulting in enhanced revenue and profits streams that will benefit from FCHs’ expertise in areas such as Investment Banking, Wealth Management, and Securities Trading which are […] - [Stress Management for Healthy Living](https://lankabiznews.com/stress-management-for-healthy-living/): Managing stress is important for maintaining a healthy and balanced life. Stress refers to a state of mental or emotional strain or tension experienced by individuals when they encounter demanding or challenging circumstances. It is a natural response of the body and mind to various pressures, whether they are physical, mental, or emotional in as cortisol and adrenaline(Stress Management). This response is designed to help individuals cope with threats or dangerous situations. However, in modern times, stress is often caused by everyday challenges like work deadlines, relationship problems, financial pressures, or academic demands, and health problems, as well as more mundane […] - [Direct selling is a great option for women entrepreneurs.](https://lankabiznews.com/direct-selling-is-a-great-option-for-women-entrepreneurs/): Direct selling is a great option for women entrepreneurs.  It is a perfect tool for women to become economically empowered. As a dynamic business model, that constantly focuses on skilling through diverse training, direct selling helps women to improve their skills and build new skills if required.   What is direct selling?  Direct selling is a  method of marketing and selling products or services directly to consumers.  This sales model typically involves a network of independent sales representatives also known as distributors or consultants, who sell products directly to consumers through  home parties, or other sales events. Direct selling companies typically offer […] - [IMF hopeful Sri Lanka can come back with greater promise](https://lankabiznews.com/imf-hopeful-sri-lanka-can-come-back-with-greater-promise/): IMF hopeful Sri Lanka can come back with greater promise The International Monetary Fund (IMF)  said its supported program presents an opportunity for the entire Sri Lankan population to unite and navigate this crisis together to restore economic stability and establish a sustainable growth trajectory for the country. During a press conference in Colombo, Krishna Srinivasan, the IMF Director of the Asia and Pacific Department, emphasized the importance of implementation and assured journalists that the IMF is available to provide assistance throughout the process. In his inaugural visit to Colombo, Srinivasan addressed the severe crisis faced by Sri Lanka, which resulted […] - [Digital assets -What are NFTs](https://lankabiznews.com/digital-assets-what-are-nfts/): NFT stands for Non-Fungible Token, which is a type of digital asset that represents ownership of a unique item or piece of content. Unlike traditional cryptocurrencies such as Bitcoin, which are fungible (i.e., interchangeable with other units of the same value), NFTs are unique and cannot be exchanged for other NFTs.   NFT Market Place The NFT market place is a platform where NFTs can be bought, sold, and traded. These marketplaces operate similarly to online auction sites or e-commerce platforms, with buyers and sellers transacting using cryptocurrencies. Some popular NFT marketplaces include OpenSea, Nifty Gateway, and Rarible.   NFTs have […] - [Forbes list Sri Lanka among top 23 Best Places to Travel in 2023](https://lankabiznews.com/forbes-list-sri-lanka-among-top-23-best-places-to-travel-in-2023/): Forbes magazine has named Sri Lanka as one of the top 23 Best Places to Travel in 2023, in the Europe/Asia category. The list, published on March 30th by Senior Contributor Laura Begley Bloom, features the choices of leading women travel experts and influencers in honor of Women’s History Month. Juliana Broste, a 12-time Heartland Emmy Award-winning travel filmmaker and host, chose Sri Lanka, describing her experience and sharing tips for travelers planning to visit. According to Bloom, this year’s list of top destinations for 2023 offers a diverse range of options, from European capitals to exotic beaches to sustainable rainforest […] - [Self-control is important when using credit cards.](https://lankabiznews.com/self-control-is-important-when-using-credit-cards/): Credit cards are a widely popular financial product around the world which is attached to consumers’ daily lifestyles. Credit cards are used for all sorts of payments by consumers based on their requirements. Credit card usage can potentially discourage self-control, but it depends on the individual’s level of financial responsibility and habits. Self-control is indeed important when using credit cards. Credit cards can be a convenient way to make purchases, but they can also lead to financial difficulties if not used responsibly. One of the biggest risks associated with credit cards is the potential to accumulate debt. Credit cards allow you […] - [Shrewsbury School signs agreement](https://lankabiznews.com/shrewsbury-school-signs-agreement-for-its-first-international-school-in-india/):  Shrewsbury School signs agreement for its first international school in India Partners with Jagran Social Welfare Society, a leading educational body, to bring iconic 471 years old school to India 6th March 2023, London / India: Shrewsbury School is delighted to announce a new partnership with Jagran Social Welfare Society to establish its first international boarding school in India. The signing ceremony took place in Shrewsbury School’s Moser Library and was witnessed by Shrewsbury Headmaster Leo Winkley, along with governors of Shrewsbury School and the Chairman and Vice-Chairs of Jagran Social Welfare Society. Shrewsbury International School India, which is set to […] - [What is e-commercea and how does it work?](https://lankabiznews.com/what-is-e-commerce-and-how-does-it-work/): What is e-commerce and how does it works?    e-commerce, also known as electronic commerce, refers to the buying and selling of goods and services through the internet. It involves online transactions, which can take place between businesses, between businesses and consumers, or between consumers themselves. e-commerce has become increasingly popular in recent years, with the rise of online shopping and the ease and convenience it offers. It allows people to buy and sell products from anywhere in the world, at any time, without having to physically visit a store. e-commerce platforms typically provide a secure payment gateway for processing online […] - [Satynmag AICPA&CIMA Women Friendly Workplace Awards 2023 launched with a Paper presented on women in the Sri Lankan workplace](https://lankabiznews.com/satynmag-aicpacima-women-friendly-workplace-awards-2023-launched-with-a-paper-presented-on-women-in-the-sri-lankan-workplace/): Sri Lanka’s sole gender focused awards that measure the status of women in the Sri Lankan workplace, Women Friendly Workplace Awards 2023 edition, jointly presented by Satynmag.com and AICPA&CIMA, was launched formally on 01st March 2023.   The launch was marked with the presentation of a Paper on Good Practices for Women  that sheds light on the Status of Women in the Sri Lankan Workplace. The Paper highlights the current level of recognition for women in the Sri Lankan work environment. Information gained through interactions with over 30 companies who employ a considerable female workforce, undertaken throughout the Awards process in […] - [Artificial intelligence and the future of humanity](https://lankabiznews.com/artificial-intelligence-and-the-future-of-humanity/): Artificial intelligence ( AI) and the future of humanity Artificial intelligence (AI) has the potential to revolutionize many aspects of human life, from healthcare to transportation to entertainment. However, as with any transformative technology, there are also potential risks and challenges associated with the development and use of AI. what is AI? AI, or artificial intelligence, refers to the ability of machines or computer systems to perform tasks that normally require human intelligence, such as learning, problem solving, perception, reasoning, and decision-making. AI is typically achieved through the use of algorithms, statistical models, and other computational techniques that enable machines to […] - [What is crypto? Is it safe to invest in?](https://lankabiznews.com/what-is-crypto-is-it-safe-to-invest-in/): What is crypto? Is it safe to invest in? “Crypto” is short for “cryptocurrency,” which is a type of digital or virtual currency that uses cryptography for security. Cryptocurrencies use decentralized technology to enable secure and transparent transactions between individuals, without the need for a central authority like a bank. The most well-known cryptocurrency is Bitcoin, but there are many others, including Ethereum, Litecoin, and Ripple, among others. As for whether it’s safe to invest in cryptocurrencies, it’s important to understand that the value of cryptocurrencies can be highly volatile and unpredictable, which means that investing in them can be risky. […] - [Is Elon Musk the world's most innovative entrepreneur?](https://lankabiznews.com/is-elon-musk-the-worlds-most-innovative-entrepreneur/): Is Elon Musk the world’s most innovative entrepreneur? Elon Musk is often cited as the world’s most innovative entrepreneur. The South African-born businessman has made a name for himself as a serial entrepreneur with a string of successful companies, including Tesla, SpaceX, and The Boring Company. Musk’s business ventures have not only transformed industries, but have also captured the public imagination with their audacious goals and groundbreaking technologies. In this article, we will explore some of the reasons why Elon Musk is widely regarded as the world’s most innovative entrepreneur. Firstly, Elon Musk’s ability to identify and pursue new opportunities is unparalleled. […] - [Visa Announces Senior Leadership Changes in Asia Pacific](https://lankabiznews.com/visa-announces-senior-leadership-changes-in-asia-pacific/): Singapore, 7 February 2023 – Visa, the world’s leader in digital payments, announced two senior leadership changes in the Asia Pacific region, with Chris Clark elevated from Regional President to Chairman, Asia Pacific, and Stephen Karpin named as his successor as Regional President, Asia Pacific. Both changes are effective 1 April 2023.   Mr. Clark said: “Over the last ten years as Regional President for Visa Asia Pacific, I have been committed to expanding the reach of electronic payments and growing our business by forging strong client and partner relationships, driving digital innovation in the regional payments ecosystem and building new […] - [What is a cyber attack ?](https://lankabiznews.com/what-is-a-cyber-attack/): What is a cyber attack  A cyber attack is an intentional, unauthorized and harmful attempt to compromise a computer system, network, or data. The individual or group of individuals who use different tactics, techniques, and procedures performs the attacks. People who do perform these threats are usually called cybercriminals, bad  hackers, or threat actors. They identify vulnerabilities, problems, or weaknesses in a computer system.  The individual or group of individuals who use different tactics, techniques, and procedures performs the attacks.   What is the different of cyber crime and cyber attack? Cyber crime refers to criminal activities committed using the internet […] - [ComBank opens Indian Rupee Nostro Account to promote regional trade](https://lankabiznews.com/combank-opens-indian-rupee-nostro-account-to-promote-regional-trade/): The Commercial Bank of Ceylon has announced that it has opened an Indian Rupee denominated Nostro Account at the 116-year-old Indian Bank – Mumbai, to facilitate trade transactions between Sri Lanka and India. The Bank said this decision follows the Central Bank of Sri Lanka (CBSL) classifying the Indian Rupee as a designated foreign currency to promote trade and tourism in the SAARC region. By establishing a Nostro Account in Indian Rupees, the Bank supports efforts to enable Sri Lankan and Indian importers and exporters to carry out trade transactions in Indian rupees, in a manner that is beneficial to both […] - [Adding a new dimension to the field of Lifestyle Medicine](https://lankabiznews.com/adding-a-new-dimension-to-the-field-of-lifestyle-medicine-dr-rasarie-wimalana/): Dr. Rasarie Wimalana obtains Global Best Results at the International Board of Lifestyle Medicine (IBLM) Examination – 2022   A young Sri Lankan professional has brought honour and recognition to Sri Lanka by achieving world class results in a highly standardized examination held globally for the increasingly popular specialty of Lifestyle Medicine.   Dr. Rasarie Wimalana showcased Sri Lanka internationally by obtaining Global Best results at the acclaimed International Board of Lifestyle Medicine (IBLM) Examination held in December 2022. The exams drew applications from over 1400 licensed physicians and allied post graduate health professionals representing multiple countries including the United Kingdom and […] - [India expected to send ‘positive’ message on debt during Jaishankar’s visit to Sri Lanka](https://lankabiznews.com/india-expected-to-send-positive-message-on-debt-during-jaishankars-visit-to-sri-lanka/): External Affairs Minister of India, S. Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt.   “India is expected to give a positive response to Sri Lanka’s requirements, in keeping with India’s support last year as well,” said a source, citing India’s combined package of about $4 billion including loans, credit lines for the purchase of essentials and a loan deferment through the Asian Clearing […] - [Why exercise is so important for your physical health and fitness](https://lankabiznews.com/why-exercise-is-so-important-for-your-physical-health-and-fitness/): Exercise is  important for your physical health and fitness. Developing a healthy lifestyles contributes towards optimum health and improves quality of life. People who exercise regularly are said to reduce their risk of ill health. It is important to note that the type, duration, and frequency of exercise will determine the specific health benefits that can be achieved. Why exercise is so important for your physical health and fitness – Exercise has many health benefits, including: Improving cardiovascular health by strengthening the heart and improving blood circulation Helping to control weight and prevent obesity Improving muscle and bone strength Reducing the risk […] - [ComBank introduces ‘Visa Direct’ and ‘Mastercard Send’ card-to-card fund transfers – a first in Sri Lanka](https://lankabiznews.com/combank-introduces-visa-direct-and-mastercard-send-card-to-card-fund-transfers-a-first-in-sri-lanka/): The Commercial Bank of Ceylon has announced the enabling of ‘Visa Direct’ and ‘Mastercard Send’ card-based fund transfer facilities for the first time in Sri Lanka.With this latest digital initiative of Commercial Bank, Visa and Mastercard Debit and Prepaid cardholders can transfer funds to any locally-issued Visa and Mastercard Debit, Credit or Prepaid card through Commercial Bank’s ATMs, CRMs and Q+ Payment App. The transfer of funds can be facilitated by just giving the card number and the amount, thus creating a new era of convenient, two-step fund transfers in the country, the Bank said. When customers transfer funds through the […] - [Visa Accelerator Program 2023 presents opportunity for SL fintech startups to go global](https://lankabiznews.com/visa-accelerator-program-2023-presents-opportunity-for-sl-fintech-startups-to-go-global/): Visa, a global leader in digital payments, has announced the Visa Accelerator Program 2023 which gives fintech startups the opportunity to enhance their growth potential through Visa’s extensive network, partnerships and expertise. Since 2020, Visa Accelerator Program has enabled innovative startups from across Asia Pacific to work with Visa and unlock growth and scale. For the 2023 cohort, it seeks applications from startups with a proven solution, growth stage companies and a focus on Asia Pacific, addressing one of the opportunity areas in – Web 3.0, global money movement, embedded finance, merchant and small business enablers and open banking solutions. Avanthi Colombage, Country Manager, […] - [The wellness industry has grown significantly in recent years](https://lankabiznews.com/the-wellness-industry-has-grown-significantly-in-recent-years/): The wellness industry has grown significantly in recent years as more and more people are seeking out experiences that promote health and wellbeing. This industry has become an important aspect of the tourism sector, with many destinations offering wellness experiences and activities for tourists to enjoy. There are many different types of wellness experiences that can be offered as part of a tourist project. Some examples include yoga and meditation retreats, spa and massage treatments, fitness and wellness classes, and outdoor activities such as hiking and cycling. These experiences can be tailored to different age groups and fitness levels, making them […] - [Social Protection Awareness sessions conducted for the safety of children in Sri Lanka](https://lankabiznews.com/social-protection-awareness-sessions-for-the-children-in-sri-lanka/): Amidst a growing need for robust measures concerning the protection of children in Sri Lanka, there are many interventions in place to create awareness sessions and reach communities in rural areas. These interventions take various forms and offer support, awareness and guidance to children in vulnerable communities. According to The National Child Protection Agency (NCPA) over 11,000 cases of child abuse ranging from cruelty and neglect to sexual violence were reported in 2021. Creating awareness of the need to be safe in the community has been a priority for the children in underprivileged communities. A Social Protection Awareness sessions, a joint […] - [Sri Lankan heritage brand W M Mendis re-commences operations – empowers farmer community](https://lankabiznews.com/sri-lankan-heritage-brand-w-m-mendis-re-commences-operations-empowers-farmer-community/): W M Mendis & Co Ltd, a Sri Lankan heritage brand with a unique footprint in the industry for over 70 years, recommenced operations recently with an outreach that provides immediate economic empowering for over 15,000 farmers in the country. The company commenced operations in 1947 with a wide array of products that showcased the growth and expertise of Sri Lankan blending. With the potential to showcase truly Sri Lankan products to the world, the Company has already entered the export market. The heritage brand returns to the market at a time of challenging economic conditions with the country focused on […] - [Online Selling & Digital payments – Sri Lankans financially literate, CBSL survey shows but more needed](https://lankabiznews.com/online-selling-digital-payments-sri-lankans-financially-literate-cbsl-survey-shows-but-more-needed/): Online Selling & Digital payments landscape is growing in Sri Lanka according to the CBSL survey on financial literacy. The survey affirms that the majority of the Sri Lankans can aspire to being financially literate and adapt to online selling and digital payments. This is more than ever relevant to women entrepreneurs and women owned businesses that sell online. Satyneshop, the online e commerce platform Satynmag has launched exclusively for women owned businesses, is currently relaunching as a dynamic platform for women entrepreneurs to sell their products online. There will be support provided to enable digital selling and empower the participating […] - [What Is a 5G Network & How Does 5G Differ From 4G?](https://lankabiznews.com/what-is-a-5g-network-how-does-5g-differ-from-4g/): Recently, 5G has started taking the world by storm. But just how does it differ from 4G? The superfast fifth-generation mobile network, most commonly referred to as 5G, is a mobile internet connection that promises next-level coverage, usage and reliability. To put it in perspective, downloading a movie on 4G takes 50 minutes — while, on 5G, it takes only nine minutes. Here, we’ll take a look at 5G in more detail, from exploring the differences between 5G and 4G to looking at how 5G can improve our lives. Essentially, if there’s anything you’ve wanted to know about 5G, we’ve got […] - [How to market sustainable tourism successfully?](https://lankabiznews.com/marketing-sustainable-tourism/): Marketing sustainable tourism is a concept that has been popularized in recent years, and it’s an approach to tourism whose full impact on the environment can be measured. Sustainable tourism is defined as “tourism that takes full account of its current and future economic, social and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities”. The benefits of adopting a more sustainable approach to business outweigh the costs to individual businesses and Sri Lanka as a whole. Sustainable tourism is a business strategy for many small businesses in Sri Lanka. New hotels are emerging rapidly due […] - [Asian Currencies in the Future](https://lankabiznews.com/aasian-currencies-in-the-future/):  Asian Currencies are growing in strength and will surely be global players in the future. The Indian Rupee The Chinese Yuan The Chinese Yuan is only behind the US dollar, but as China continues to grow, it will rise in rank. The Indian Rupee has lost strength because of its war debt. However, as they sell their gold reserves and invest in business, the Indian Rupee will surely rise. The Indian rupee has gained strength in the past year. Asian currencies have grown in strength, with China’s yuan rising 12 percent against the dollar since 2010. The growth of the yuan […] - [In the workplace, ageism is a real issue.](https://lankabiznews.com/in-the-workplace-ageism-is-a-real-issue/): As employees get older, they may be downgraded or dismissed altogether. Older workers are often replaced by younger employees who are seen as more “innovative” or “up-to-date” in their approach. Is ageism an issue in the workplace when compared to hiring young employees? Yes! In fact, it can be more difficult for an older worker to be hired than a younger one. If you want to make sure that your company doesn’t discriminate against older workers, then you need to give them the opportunity to train in new tech and learn new skills(ageism is a real issue.). This will help them […] - [Why do we need to pay taxes?](https://lankabiznews.com/why-do-we-need-to-pay-taxes/): Why do we need to pay taxes? Many people have questions about how they will be taxed and why they need to pay taxes at all. In this article, we’ll explore the basics of taxation and help you understand your own situation so that you can make an informed decision about whether or not to file taxes this year. Basically any money you earn is taxable. Basically any money you earn is taxable. That includes: Wages Interest and dividend income (interest from savings accounts or bonds) Capital gain on the sale of assets (including property, cars, boats and other investments) Some […] - [Is investing in the stock market a good idea?](https://lankabiznews.com/investing-in-the-stock-market-is-a-great-way-to-make-money-but-its-also-important-to-know-when-the-best-time-to-invest-in-stocks-is/): Investing in the stock market can be a very rewarding experience, but it’s also important to know when the best time to invest in stocks is. Stock markets pick up with economic activity, for example, if there’s an economic slowdown or recession, then that could have an impact on stock prices as well. If you want to make sure that your investments are safe and secure, then it’s always a good idea to keep an eye on the financial news because it can affect stock values. Investing in the stock market is one of the best ways to grow your money. […] - [Smartphones increase in usage - empowering businesses](https://lankabiznews.com/smartphones-increase-in-usage-empowering-businesses/): Smartphone usage is on the rise. According to a recent report, the number of smartphone users in the United States has reached nearly 80%. This means that more people than ever are using their smartphones to access information, communicate with others, and engage with businesses. The future of smartphones can be exciting for businesses. With so many different apps designed to help them reach consumers, businesses have access to a wealth of new tools for engaging with customers. And since most people spend more time on their phones than anything else, this is an opportunity for businesses to target consumers in […] - [Unlocking the Potential: Why Investing in Sri Lanka is a Smart Choice](https://lankabiznews.com/why-investing-in-sri-lanka-is-a-smart-choice/): Sri Lanka, a strategically located island nation in South Asia, has been steadily emerging as a promising investment destination. With a growing economy, strategic infrastructure projects, and business-friendly policies, the country presents ample opportunities for foreign and local investors. In this article, we will explore the potential of investing in Sri Lanka, covering key sectors, government initiatives, and future growth prospects. 1. Strategic Location and Trade Connectivity One of Sri Lanka’s biggest advantages is its strategic location in the Indian Ocean, making it a key hub for international trade. The country sits along major maritime routes, facilitating seamless trade between Asia, […] - [Sri Lanka’s Tourism Sector: A Strong Comeback and Future Prospects](https://lankabiznews.com/sri-lankas-tourism-sector-a-strong-comeback/): The Sri Lankan tourism industry is witnessing a remarkable resurgence, positioning itself as a key driver of economic recovery. Following a period of downturn due to economic instability and the global pandemic, Sri Lanka has implemented strategic initiatives that have significantly boosted tourist arrivals, revenue, and investor confidence(Tourism Sector). With a strong growth trajectory, the sector is poised to reclaim its position as a leading contributor to the national economy. Tourism as a Pillar of Economic Growth Tourism has long been a cornerstone of Sri Lanka’s economy, contributing significantly to GDP, employment, and foreign exchange earnings. According to recent data, the […] - [Sri Lanka's Economic Recovery: Challenges and Opportunities in 2025](https://lankabiznews.com/economic-recovery-challenges-in-2025/): Sri Lanka has faced significant economic challenges over the past few years, from a severe balance of payments crisis to inflationary pressures and debt restructuring negotiations. As the country moves through 2025, the focus is shifting from crisis management to sustainable economic recovery. While improvements in key economic indicators suggest progress, there remain several structural weaknesses that must be addressed to ensure long-term stability and growth. This article explores Sri Lanka’s economic recovery, highlighting the challenges the nation faces and the opportunities that lie ahead. Economic Challenges Sri Lanka’s high levels of public debt remain one of the most significant challenges […] - [Navigating Business in Sri Lanka: A Gateway to Opportunity](https://lankabiznews.com/business-in-sri-lanka/): Sri Lanka, with its strategic position in the Indian Ocean, presents a compelling case for investors and entrepreneurs(Business in Sri Lanka). The island nation, known for its vibrant culture and history, is increasingly recognized for its business-friendly climate. This article explores the transformations and challenges in Sri Lanka’s business landscape, offering insights into why it’s becoming a hotspot for commercial opportunities. Strategic Location and Economic Potentials Sri Lanka serves as a gateway to South Asia, benefiting from its geographical positioning and trade connectivity. Its proximity to major maritime routes has historically made it a trading hub. Today, Sri Lanka leverages this […] - [Why Sustainable Business Practices Matter for Sri Lanka’s Future](https://lankabiznews.com/sustainable-business-matter-for-sri-lanka/): In recent years, sustainability has emerged as one of the most important buzzwords in the global business landscape. As environmental challenges intensify and consumer expectations evolve, businesses in Sri Lanka are starting to recognize the significance of adopting sustainable practices. These practices not only benefit the environment but also help businesses thrive, increase profitability, and improve their brand reputation. For Sri Lankan businesses looking to stay competitive and relevant in a rapidly changing world, sustainable business practices are more than just a trend—they’re a necessity. What Are Sustainable Business Practices?Sustainable business practices involve operating in ways that do not deplete or […] - [Adani Group Withdraws from Sri Lanka’s Wind Power Projects: What It Means for the Country’s Energy Future](https://lankabiznews.com/withdraws-from-sri-lankas-wind-power-projects/): The Adani Group, one of India’s largest multinational conglomerates, has officially pulled out of its proposed $440 million wind power projects in Sri Lanka. This unexpected move has sparked discussions on the future of foreign direct investment (FDI), renewable energy policies, and economic stability in Sri Lanka. The withdrawal follows a reassessment of tariff structures by the newly elected Sri Lankan government under President Anura Kumara Dissanayake. Background of Adani’s Investment in Sri Lanka The Adani Green Energy Limited (AGEL), a subsidiary of the Adani Group, had initially secured a contract to develop two major wind power projects in Sri Lanka, […] - [The E-commerce Boom in Sri Lanka: A New Era of Online Business](https://lankabiznews.com/e-commerce/): The global e-commerce industry is experiencing unprecedented growth, and Sri Lanka is no exception. With digital transactions, mobile penetration, and evolving consumer behavior reshaping the retail landscape, the island nation is witnessing a transformative shift toward online shopping. By 2026, global e-commerce sales are projected to reach a staggering $8.1 trillion, and Sri Lankan businesses are quickly adapting to this digital revolution. From small-scale entrepreneurs to large retailers, the e-commerce ecosystem is expanding rapidly. In this article, we’ll delve into the factors driving Sri Lanka’s e-commerce boom, emerging trends, challenges, and the future outlook for this dynamic industry. The Rise of […] - [Sri Lanka’s IMF Tranche Approval: Progress, Challenges, and the Road Ahead](https://lankabiznews.com/sri-lankas-imf-tranche-approval-2025/): Introduction: A Critical Milestone for Sri Lanka’s Economy Sri Lanka has reached another crucial stage in its economic recovery, with the International Monetary Fund (IMF) approving the third review of its $2.9 billion Extended Fund Facility (EFF). This approval, granted on February 28, 2025, allows for the immediate disbursement of $334 million, a significant financial boost to the struggling economy(IMF Tranche). The IMF’s approval signals confidence in Sri Lanka’s economic reforms, but it also comes with stringent conditions, benchmarks, and ongoing challenges. The country’s ability to meet IMF targets, implement reforms, and sustain fiscal discipline will determine the success of its […] - [Sri Lanka’s fuel sector - challenges ahead and the road up to now.](https://lankabiznews.com/sri-lankas-fuel-sector-challenges-ahead/): Sri Lanka’s fuel sector has undergone significant transformations in recent years, influenced by economic challenges, geopolitical dynamics, and strategic initiatives. This article delves into the current state of fuel in Sri Lanka, highlighting critical areas and potential pathways to energy resilience. Historical Context: The Economic Crisis and Fuel Shortages Between 2019 and 2024, Sri Lanka faced its most severe economic crisis since independence. Factors such as tax cuts, money creation, a sudden shift to organic farming, and external shocks like the Easter bombings and the COVID-19 pandemic culminated in unprecedented inflation, depleted foreign reserves, and shortages of essential commodities, including fuel. […] - [The Impact of Proposed Taxes on Freelancers and Individuals Earning Foreign Exchange in Sri Lanka](https://lankabiznews.com/impact-of-proposed-taxes-on-freelancers-earning/): Sri Lanka’s economic landscape is undergoing a significant transformation as the government unveils its 2025 budget, introducing measures aimed at bolstering fiscal stability. Among the most talked-about changes are the proposed taxes on freelancers and individuals earning foreign exchange, set to take effect on April 1, 2025. This policy shift, which imposes a 15% tax on foreign income—including earnings from freelance work and services rendered to overseas clients—marks a departure from previous exemptions designed to encourage foreign exchange inflows. While the government argues this move supports economic recovery, it has ignited a firestorm of debate among freelancers, business owners, and economic […] - [The Garment Industry in Sri Lanka: Unexplored Potential and Future Opportunities](https://lankabiznews.com/the-garment-industry-in-sri-lanka/): Sri Lanka has long been recognized as a global player in the apparel and textile industry. With a strong reputation for high-quality production, ethical manufacturing, and compliance with international labor standards, the country has built a solid foundation in the sector. However, despite its success, Sri Lanka’s garment industry still has significant unexplored potential. By leveraging emerging trends, investing in sustainable practices, and capitalizing on new market opportunities, the industry can expand its footprint globally and contribute more significantly to the national economy. An Overview of Sri Lanka’s Garment Industry The garment sector is one of the largest contributors to Sri […] - [The Impact of the 2025 Budget on Sri Lanka’s SME Sector: Opportunities and Challenges](https://lankabiznews.com/2025-budget-on-sri-lankas-sme-sector/): Small and Medium Enterprises (SMEs) are the backbone of Sri Lanka’s economy, contributing significantly to employment, GDP growth, and innovation. As the country navigates economic recovery and sustainable development, the annual budget plays a pivotal role in shaping the SME sector. The 2025 budget introduces several measures aimed at bolstering small businesses, but it also presents challenges that need to be addressed. This blog post delves into the key aspects of the budget, its implications for SMEs, and actionable steps businesses can take to maximize its benefits. Budget Allocations and Support for SMEs in 2025 The Sri Lankan government has recognized […] - [Bridging the Fiscal Deficit: Strategic Approaches for Sri Lanka’s Economic Stability](https://lankabiznews.com/bridging-the-fiscal-deficit-sri-lankas-economic/): Sri Lanka’s 2025 budget introduces a range of policies aimed at promoting economic stability and growth. However, one of the most pressing concerns remains the fiscal deficit, which arises when government expenditures surpass revenue generation, excluding borrowings(Bridging the Fiscal Deficit). Addressing this challenge is essential for maintaining financial stability, fostering investor confidence, and securing long-term economic prosperity. This article explores key strategies for narrowing the deficit and ensuring sustainable fiscal management in Sri Lanka. Expanding the Tax Base A primary approach to bridging the fiscal deficit is through broadening the tax base. Sri Lanka has historically relied heavily on indirect taxes, […] - [The Ripple Effect: How the National Budget Impacts Businesses in Sri Lanka](https://lankabiznews.com/budget-impacts-businesses-in-sri-lanka/): The national budget is more than just an annual financial statement—it’s a reflection of a country’s economic priorities and a roadmap for growth. For businesses in Sri Lanka, the budget can be a catalyst for opportunity or a source of challenge, depending on its policies and allocations. From taxation and subsidies to infrastructure and sustainability, the budget shapes the business environment in profound ways. In this article, we’ll explore how the Sri Lankan budget impacts businesses across various sectors, the opportunities it creates, and the challenges it poses. Whether you’re a small business owner, a corporate leader, or an aspiring entrepreneur, […] - [Visa Infinite Cardholders Board the Viceroy Train for a Unique Experience](https://lankabiznews.com/visa-infinite-cardholders-board-the-viceroy-train/): Visa, the global leader in digital payments, recently treated  designated cardholders of Visa Infinite, its recently launched proposition for affluent consumers, to an exclusive, curated experience aboard the prestigious Viceroy Train. Visa Infinite cardholders rode the luxury train from Colombo to Bentota and upon reaching Club Villa Bentota, they were invited to view an unforgettable dance performance dipping into our nation’s history and be immersed in a unique mixology session, stemming from the use of arrack. This was followed by a cultural exploration lunch and an entertaining puppetry show. Commenting on the experience, Avanthi Colombage, Country Manager, Sri Lanka and Maldives, […] - [What to Expect from Sri Lanka’s 2025 Budget](https://lankabiznews.com/expect-from-sri-lankas-2025-budget/): On February 17, 2025, Sri Lanka’s newly elected President Anura Kumara Dissanayake will present his administration’s inaugural budget to Parliament. This highly anticipated event marks a pivotal moment for the nation, as it seeks to balance ambitious election promises with the stringent requirements of a $2.9 billion International Monetary Fund (IMF) bailout program. For businesses, investors, and citizens alike, the 2025 budget is not just a financial roadmap—it’s a litmus test of the government’s ability to deliver economic stability, foster growth, and provide relief to a population still reeling from the effects of a severe financial crisis. Here’s what we can […] - [Visa:  ශ්‍රී ලංකාවේ 2024 වසර අවසාන සංචාරක ගනුදෙනු 40% කින් ඉහළ ගොස් තිබේ.](https://lankabiznews.com/tourist-transactions/): මාධ්‍ය නිවේදනය 2024 අවසාන නිවාඩු සමයේදී ශ්‍රී ලංකාවේ සංචාරක සහ , දේශීය   පාරිභෝගික අංශයන්හි Visa debit කාඩ් භාවිතය කැපී පෙනෙන වැඩිවීමක් පෙන්නුම් කර තිබෙන බව ඩිජිටල් ගෙවීම් පිළිබඳව ගෝලීය ප්‍රමුඛයා වන Visa  (NYSE: V), නොබෝදා නිවේදනය කළේය. Visa සමාගමේ Consulting & Analytics (VCA), Visa’s advisory arm , විසින් මෙම කාලය තුළ පාරිභෝගිකයින්ගේ වියදම් රටා පිළිබඳ  නිකුත් කල  වාර්තාවකට අනුව මේ පිලිබඳව පෙන්වා දෙයි.  2023 සහ 2024 වසර අවසාන වියදම් විශ්ලේෂණය කිරීමේදී දේශසීමා හරහා භෞතික වෙළඳසැල් තුල ඩෙබිට් කාඩ් මඟින් සිදුකල ගනුදෙනුවල 40% ක වැඩිවීමක් දක්නට ලැබේ.  එය පසුගිය වසරට වඩා 50% කට ආසන්න වැඩිවීමක් පෙන්නුම් කරයි. පසුගිය වසරට සාපේක්ෂව දේශීය පාරිභෝගිකයින්  […] - [Sri Lanka's Debt Restructuring Agreement with Japan](https://lankabiznews.com/debt-restructuring/): In a pivotal development for its economic landscape, Sri Lanka is on the verge of finalizing a critical debt restructuring agreement with Japan, heralding a new chapter in its pursuit of financial stability. This advancement follows the Sri Lankan Cabinet’s approval to finalize necessary formalities with the Japan International Cooperation Agency (JICA), showcasing a significant commitment to mitigating the country’s financial challenges. Stepping Stones to Economic Recovery The approval to sign exchange notes and an amended agreement with JICA marks the culmination of extensive bipartisan negotiations. These efforts are geared towards cementing a deal that promises to lift Sri Lanka from […] - [End-of-Year Tourist Transactions Up by 40% in Sri Lanka This Holiday Season](https://lankabiznews.com/40-in-sri-lanka-this-holiday-season/): Colombo, February 05, 2025: Visa (NYSE: V), the global leader in digital payments, today announced that Visa saw a marked uptick in spending by both tourists and domestic consumers in Sri Lanka during the holiday season at the end of 2024. Visa Consulting & Analytics (VCA), Visa’s advisory arm, highlighted key findings of consumer spend patterns during this period that saw an increase in commerce across payment options and channels. An analysis of end-of-year spends of 2023 and 2024 showcased 40% increase in cross-border card transactions in physical stores, with a clear preference for using debit cards, that witnessed almost 50% […] - [Sri Lanka’s Aviation Sector Soars to New Heights in 2024"](https://lankabiznews.com/sri-lankas-aviation-sector-in-2024/): The year 2024 has marked a significant milestone for Sri Lanka’s aviation sector, witnessing unprecedented growth and transformation. As the world continues to recover from the impacts of the COVID-19 pandemic, Sri Lanka has emerged as a key player in the global aviation industry(Aviation Sector in 2024). This growth is driven by a combination of strategic investments, policy reforms, and increasing demand for air travel. In this article, we will explore the factors contributing to this remarkable growth, the challenges faced by the sector, and the future prospects for Sri Lanka’s aviation industry. 1. The Post-Pandemic Recovery The COVID-19 pandemic brought […] - [The Impact of Lifting the Vehicle Import Ban on Sri Lanka's Automotive Industry](https://lankabiznews.com/lifting-the-vehicle-import-ban-on-sri-lankas/): Sri Lanka’s vehicle import industry has been a significant contributor to the country’s economy for decades. However, in recent years, the government imposed a ban on vehicle imports to curb the outflow of foreign exchange and stabilize the economy. This decision had far-reaching consequences for the automotive sector, affecting dealers, consumers, and the overall economy. Recently, there has been talk of lifting this ban, sparking a wave of speculation and debate. In this article, we will explore the potential impact of lifting the vehicle import ban on Sri Lanka’s vehicle import industry, examining both the positive and negative aspects of this […] - [AB Mauri Lanka Launches "Empower Her" Scholarship Program to Celebrate International Women’s Day 2025](https://lankabiznews.com/ab-mauri-lanka-launches-empower-her/): AB Mauri Lanka, a leading supplier of high-quality ingredients and yeast for Sri Lanka’s bakery industry, is set to commemorate International Women’s Day 2025 with its flagship event, “Empower Her”, on March 2, 2025, at the Sheraton Colombo Hotel, Colombo. This initiative reaffirms AB Mauri Lanka’s commitment to diversity, inclusion, and women’s empowerment by encouraging and supporting skill development while also celebrating the achievements of women in the baking industry. The Company believes that by imparting bakery industry skills to women, they will be encouraged to achieve economic empowerment and job creation. As part of this initiative, AB Mauri Lanka will award 20 full scholarships under the Empower Her Scholarship […] - [Sri Lanka Sees a Strong Start to 2025 with Over 200,000 Tourist Arrivals in January](https://lankabiznews.com/over-200000-tourist-arrivals-in-january/): Sri Lanka’s tourism industry has begun 2025 on a high note, welcoming over 200,000 international tourists in January. This significant milestone signals a robust revival in the sector, positioning Sri Lanka as a top travel destination in South Asia(Tourist Arrivals in January). With major contributions from key markets such as India, Russia, and the United Kingdom, the island nation continues to capture the interest of global travelers seeking cultural richness, scenic beauty, and diverse experiences. Tourism Industry’s Positive Momentum The latest figures indicate a positive trajectory for Sri Lanka’s tourism industry. Compared to previous years, the steady increase in arrivals highlights […] - [Sri Lanka’s Export Earnings Reach Record High in 2024](https://lankabiznews.com/sri-lankas-export-earnings-reach-record/): Sri Lanka has achieved a historic milestone in 2024, with its total export earnings reaching an all-time high of $16.17 billion. This marks a 7.06% increase compared to the previous year, demonstrating the country’s economic resilience and strategic adaptability in the global market. This success underlines the continuous efforts by Sri Lankan exporters and policymakers to strengthen trade and diversify market reach. A Year of Remarkable Growth The year 2024 will be remembered as a transformative period for Sri Lanka’s economy, with the Export Development Board (EDB) confirming that the nation surpassed its previous highest export record of $15.72 billion, which […] - [Sri Lanka Introduces Free Visa Entry to Boost Tourism and Economic Growth](https://lankabiznews.com/sri-lanka-introduces-free-visa-entry-to-boost-tourism/): By Lanka Biz News Desk Sri Lanka is set to revolutionize its tourism industry with a bold new visa-free entry policy for 39 countries, a move expected to significantly boost foreign arrivals and economic growth(Free Visa Entry). Announced by Tourism Minister Vijitha Herath, this initiative aims to enhance Sri Lanka’s global appeal, making travel more accessible while driving revenue for local businesses. The visa-free policy, which will be formalized through Cabinet approval and a gazette notification, will launch as a trial phase in October 2024. It builds on the success of a previous visa exemption program that attracted tourists from China, […] - [Colombo Port Expansion Project Gains Momentum with $4.2M Consultancy Deal](https://lankabiznews.com/colombo-port-expansion-project-gains-momentum/): A Transformative Step in Sri Lanka’s Maritime Sector In a significant boost to Sri Lanka’s maritime sector, the Cabinet of Ministers has approved a $4.2 million consultancy contract with South Korea’s Dohwa Engineering Co. Ltd. This milestone decision marks the next phase in the ambitious Colombo Port Expansion Project, a transformative initiative aimed at reinforcing Sri Lanka’s position as a major global shipping and logistics hub. Strategic Leap in Maritime Infrastructure As one of South Asia’s busiest and most strategically located ports, Colombo is at the forefront of international trade. The ongoing expansion aims to modernize port facilities, increase cargo handling […] - [Sri Lanka's Tourism Booms in 2024, Driven by Emerging Markets](https://lankabiznews.com/tourism-sector-sees-remarkable-growth-in-2024/): Introduction Sri Lanka’s tourism industry reached a major milestone in 2024, welcoming over 2.05 million visitors. This remarkable growth was largely driven by emerging markets, signaling a significant shift in the country’s tourism landscape(Remarkable Growth in 2024). As the sector prepares for the launch of a unified national brand, the diversification of visitor sources is shaping a promising future. Emerging Markets Drive Expansion While traditional markets like India and Russia remained strong contributors to Sri Lanka’s tourism, the standout growth in 2024 came from emerging markets. Poland led the surge with an astounding 146.09% increase in visitor numbers, making it a […] - [President Trump’s Impact on South Asia and Sri Lanka’s Economic and Business Growth](https://lankabiznews.com/president-trump-impact-on-south-asia-and-sri-lanka/): Former U.S. President Donald Trump’s tenure had significant implications for South Asia, including Sri Lanka, particularly in terms of economic and business development(President Trump). His policies on trade, investment, and foreign relations shaped the regional economic landscape, influencing opportunities and challenges for Sri Lanka. This article explores the economic significance of Trump’s policies on South Asia and their impact on Sri Lanka’s business environment. U.S.-South Asia Relations Under Trump During Trump’s presidency, the U.S. adopted a more transactional approach to international relations, emphasizing fair trade, reducing trade deficits, and fostering investment opportunities. South Asia, as an emerging economic hub, witnessed key […] - [Inclusion of Women in Boardrooms: A Catalyst for Progress in Sri Lanka and the World](https://lankabiznews.com/inclusion-of-women-in-boardrooms-in-sri-lanka/): In today’s world, the importance of inclusivity and equality is undeniable, and one area where this is particularly crucial is in the boardroom. The inclusion of women in leadership roles is no longer just a progressive ideal—it is a practical and necessary step toward sustainable success. While the global push for gender diversity in leadership gains traction, Sri Lanka has a unique opportunity to embrace this change and reap its many benefits. Why Gender Diversity in Leadership Matters Having women in boardrooms isn’t just about fairness; it’s a smart business move. Research consistently shows that companies with diverse boards tend to […] - [Sri Lanka’s Journey to Economic Resilience: CBSL’s Vision for 2025 and Beyond](https://lankabiznews.com/cbsl-vision-for-2025-and-beyond/): In a landmark announcement, Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), laid out a comprehensive strategy to strengthen the nation’s economy and ensure long-term sustainable growth(CBSL Vision for 2025). The CBSL’s 2025 Policy Agenda emphasizes innovation, productivity, and structural reforms as pivotal elements to drive Sri Lanka towards economic resilience and prosperity. Reinforcing Economic Foundations Sri Lanka witnessed a significant economic recovery in 2024, achieving a 5% growth rate—the highest since 2017. This recovery reflects improved macroeconomic fundamentals, which were bolstered after the nation’s worst economic crisis. Strategic policies and collective efforts led by the CBSL […] - [Concerns Over Japanese Banks and LC Processing](https://lankabiznews.com/concerns-over-japanese-banks-and-lc-processing/): Jagath Ramanayake, President of the Sri Lanka Business Council of Japan (SLBCJ), recently raised concerns about the ability of Japanese banks to process letters of credit (LCs), which are essential for vehicle imports. Speaking at a media briefing, Ramanayake noted that international law ensures an LC, once opened, cannot be cancelled, facilitating the smooth shipment of goods. However, due to Sri Lanka’s economic crisis, the government suspended the use of LCs with all Japanese banks, creating uncertainty about whether new LCs will be issued after February 1. Optimism Amid Economic Challenges Despite these concerns, Ramanayake remains optimistic. He shared that the […] - [President Anura Kumara Dissanayake Unveils Ambitious Economic Policy Framework](https://lankabiznews.com/unveils-ambitious-economic-policy-framework/): On January 2, 2025, President Anura Kumara Dissanayake introduced a groundbreaking economic policy framework aimed at tackling Sri Lanka’s persistent economic challenges. The announcement coincided with the launch of the ‘Clean Sri Lanka’ program, a flagship initiative for the year that underscores the President’s vision for holistic national rejuvenation. The ‘Clean Sri Lanka’ Program: A Nation’s Call to Action The ‘Clean Sri Lanka’ program aspires to rejuvenate both the social and environmental fabric of the country. President Dissanayake emphasized that public participation is critical to its success, stating, “The success of this program depends entirely on the active participation of our […] - [President’s Initiative for Tourism Enhancement: A Strategic Pathway to Revitalize Sri Lanka’s Tourism Sector](https://lankabiznews.com/presidents-initiative-for-tourism-enhancement/): Sri Lanka, a nation renowned for its lush landscapes, cultural heritage, and inviting beaches, has long been a beacon for travelers from around the globe(Tourism Enhancement). In an effort to restore the country’s position as a premier tourist destination, the President’s Initiative for Tourism Enhancement has emerged as a comprehensive strategy to rejuvenate and expand the nation’s tourism sector. This initiative reflects the government’s commitment to addressing challenges, fostering sustainable growth, and unlocking the full potential of one of Sri Lanka’s most vital economic drivers. Understanding the Need for the Initiative In recent years, Sri Lanka’s tourism industry has faced significant […] - [Sri Lanka’s Tourism Surge: Over 200,000 Visitors Flock to the Island in December 2024](https://lankabiznews.com/sri-lanka-over-200000-visitors-flock-to-the-island/): Sri Lanka’s tourism sector is celebrating a remarkable milestone as the island welcomed over 200,000 visitors in December 2024, marking a strong resurgence in both international and domestic travel(Visitors Flock). This achievement reflects the industry’s robust recovery from numerous challenges over the past five years and highlights the nation’s growing appeal as a premier travel destination. Strategic Efforts and Environmental Focus Deputy Minister of Tourism, Prof. Ruwan Ranasinghe, has been at the forefront of initiatives aimed at enhancing the tourist experience while prioritizing environmental conservation. During a recent visit to the iconic Nine Arch Bridge in Ella, he engaged with tourists […] - [Stay Safe, Pay Safe and Avoid Festive Frauds – Visa Shares Tips for Consumers This Festive Season](https://lankabiznews.com/stay-safe-pay-safe-and-avoid-festive-frauds/): Colombo, Sri Lanka – With the holiday season now underway, Visa, the global leader in digital payments, reminds shoppers to stay vigilant amidst a rise in fraud schemes(Stay Safe Pay Safe). Visa’s Payment Ecosystem Risk and Control (PERC) team released the 2024 Holiday Threats Report, outlining common methods fraudsters use to steal money, data, and account details while people plan their festivities. Top Holiday Shopping Scams one should be aware of are: ⁠Phishing and Social Engineering Scammers impersonate trusted sources to steal personal information through emails, texts, and calls. Consumers should be wary of common scams to obtain financial details, like […] - [How tax reduction will impact businesses in sri lanka.](https://lankabiznews.com/tax-reduction-will-impact-businesses-in-sri-lanka/): In recent years, tax reforms have become a critical tool for governments worldwide to stimulate economic growth, attract investments, and provide relief to struggling industries. Sri Lanka, a country that has faced its share of economic challenges, is no exception. The reduction in taxes, introduced as part of recent fiscal policies, has sparked widespread discussion about its implications for businesses across the island. This article explores the potential impacts of tax reduction on Sri Lankan businesses, weighing the opportunities it presents against the challenges it may pose in the long term. Immediate Financial Relief for Businesses One of the most apparent […] - [Unleashing Sri Lanka's Export Potential in 2025: A Blueprint for Economic Growth](https://lankabiznews.com/unleashing-sri-lankas-export-potential-in-2025/): As Sri Lanka looks to rebound from recent economic challenges, the export sector stands out as a critical pillar for sustainable growth in 2025. With its strategic geographic location, diverse resources, and skilled workforce, Sri Lanka has significant untapped potential in exports. This article explores the opportunities, challenges, and strategies to harness the full power of Sri Lanka’s export industry for a brighter economic future. The Current Landscape Sri Lanka’s export sector has long been dominated by textiles, tea, and rubber. In 2023, apparel accounted for over 40% of export earnings, while tea exports reinforced the country’s reputation as a global […] - [Sri Lanka's Hospitality Sector: Poised for Excellence in 2025](https://lankabiznews.com/sri-lankas-hospitality-sector-excellence-in-2025/): In recent years, Sri Lanka has dramatically transformed into a sought-after tourist destination, leveraging its rich cultural heritage, stunning landscapes, and a burgeoning hospitality infrastructure. As we look towards 2025, the hospitality sector in Sri Lanka is not just recovering; it’s on a trajectory to excel as a key destination. Here’s an exploration of the opportunities that lie ahead for this vibrant industry. A Resilient Recovery Following global disruptions like the Easter bombings in 2019 and the subsequent economic and political turmoil, Sri Lanka’s tourism sector has shown remarkable resilience. The latest statistics reveal an impressive recovery with tourism earnings reaching […] - [Colombo Dockyard: Navigating a New Horizon as Onomichi Departs Sri Lanka](https://lankabiznews.com/new-horizon-as-onomichi-departs-sri-lanka/): Colombo Dockyard PLC (CDL), a cornerstone of Sri Lanka’s maritime industry, stands at a pivotal juncture in its storied history. The impending exit of Japan’s Onomichi Dockyard Company Ltd., CDL’s majority shareholder, has set the stage for significant transformation and introspection(Onomichi Departs). After a partnership spanning over three decades, Onomichi Dockyard’s decision to divest its 51% stake is poised to reshape the trajectory of Colombo Dockyard and Sri Lanka’s shipbuilding landscape. A Longstanding Partnership Draws to a Close Established in 1974, Colombo Dockyard has been instrumental in shaping Sri Lanka’s reputation as a maritime hub. Over the years, the company has […] - [Cabinet Approves ‘Clean Sri Lanka’ Fund to Drive National Transformation](https://lankabiznews.com/clean-sri-lanka/): In a bold move to address the country’s multifaceted challenges, the Cabinet of Ministers has approved the establishment of the ‘Clean Sri Lanka’ fund, accompanied by the formation of a Presidential Task Force to oversee and manage this transformative initiative. The initiative, proposed by the President and unanimously approved by the Cabinet, is envisioned as a national mission aimed at fostering well-being, reconciliation, and progress across Sri Lanka. What is the ‘Clean Sri Lanka’ Fund? The ‘Clean Sri Lanka’ fund is a pivotal element of the Government’s strategy to usher in a new era of social, environmental, and ethical awakening. By […] - [Abu Dhabi’s IHC Stands by Adani Group Amid Lanka and Tanzania Port Projects](https://lankabiznews.com/adani-group-amid-lanka-and-tanzania-port-projects/): NEW DELHI: The International Holding Company (IHC), Abu Dhabi’s sovereign wealth fund managing assets worth $100 billion globally, has reaffirmed its support for the Adani Group despite recent legal allegations against the conglomerate’s leadership. The IHC has invested $1.7 billion in Adani’s diverse ventures, including renewable energy and infrastructure. In a statement on Thursday, the IHC emphasized its confidence in Adani’s contributions to the green energy and sustainability sectors. “Our partnership with the Adani Group reflects our trust in their impact. As always, our team continues to monitor developments closely, but for now, our outlook remains positive,” the company said. The […] - [Reshaping Sri Lanka’s Economy: The Role of International Sovereign Bond (ISB) Exchange in Achieving Stability](https://lankabiznews.com/the-role-of-international-sovereign-bond/): Sri Lanka, an island nation rich in cultural heritage and natural beauty, has faced significant economic challenges in recent years. One of the critical measures being implemented to stabilize the economy is the exchange of International Sovereign Bonds (ISBs). This move, part of a broader economic restructuring plan, is a crucial step toward reducing debt burdens and laying the groundwork for sustainable growth. This article delves into the significance of ISB exchange, its impact on Sri Lanka’s economy, and the path forward for achieving long-term stability. Understanding International Sovereign Bonds International Sovereign Bonds (ISBs) are debt securities issued by a country […] - [The Potential of Sri Lankan Ports to Drive Business Growth in 2024 and Beyond](https://lankabiznews.com/drive-business-growth-in-2024-and-beyond/): Sri Lanka’s strategic position in global maritime routes has long made it a vital hub for international shipping. With its deep-sea ports and growing operational capabilities, the country’s ports are set to play a pivotal role in regional and global supply chains. Harbour Master Capt. Nirmal Silva of the Sri Lanka Ports Authority (SLPA) recently shared optimistic insights into the port sector’s performance and its potential for growth. Backed by significant operational improvements, infrastructure development, and financial gains, Sri Lanka’s ports are emerging as powerful engines of economic recovery and business expansion. Operational Growth Fuels Optimism The SLPA is on course […] - [The State of Business in Sri Lanka: Navigating the Path to Recovery Post-2022 Economic Downturn](https://lankabiznews.com/navigating-the-path-to-recovery-post-2022-economic-downturn/): Sri Lanka’s journey through the economic downturn of 2022 left profound impacts on its businesses, economy, and people’s livelihoods. In a landscape characterized by soaring inflation, supply shortages, and depleted foreign reserves, the business sector was forced into survival mode. Now, as we cautiously approach 2025, Sri Lanka finds itself at a crossroads, with businesses and policymakers striving to foster a recovery that’s both sustainable and inclusive. But what lies ahead for Sri Lanka’s business landscape? This article will examine the state of Sri Lanka’s businesses as we emerge from the recent economic challenges, analyzing key sectors, policy directions, and potential […] - [Enhancing Digital Banking Growth in Sri Lanka: A Vital Gesture for Economic Expansion](https://lankabiznews.com/enhancing-digital-banking-growth-in-sri-lanka-2/): In recent years, digital banking has emerged as a crucial driver of economic growth worldwide, and Sri Lanka is no exception. As the country navigates its path toward economic recovery and long-term expansion, enhancing the growth of digital banking has become a vital gesture, integral to the development of a resilient financial ecosystem. Here’s a closer look at why digital banking is key to Sri Lanka’s economic future and how it can be strengthened to benefit all sectors. 1. The Need for Digital Banking in Sri Lanka Digital banking, encompassing mobile banking, online banking, and other internet-based financial services, provides convenience, […] - [The Importance of Supporting the SME Sector in Sri Lanka](https://lankabiznews.com/supporting-the-sme-sector-in-sri-lanka/): The small and medium enterprise (SME) sector in Sri Lanka plays a crucial role in shaping the economy, driving innovation, generating employment, and uplifting local communities. Often referred to as the backbone of the economy, SMEs are responsible for a significant share of the nation’s GDP and employment. Despite their importance, SMEs face many challenges in accessing finance, technology, and market opportunities. This article explores the reasons why supporting the SME sector is essential for Sri Lanka’s economic growth and offers insights into strategies that could foster a more resilient and prosperous SME environment. 1. Job Creation and Poverty Alleviation SMEs […] - [Sri Lanka's Road Forward with the IMF in 2025: Opportunities and Challenges"](https://lankabiznews.com/sri-lankas-road-forward-with-the-imf-in-2025/): The year 2025 is pivotal for Sri Lanka as the country seeks stability in the wake of severe economic challenges. High debt, a currency crisis, and rising inflation have plagued the economy in recent years, bringing it to the brink of collapse. To aid Sri Lanka, the International Monetary Fund (IMF) has extended financial support through a significant agreement that aims to restore economic stability and guide long-term growth. As Sri Lanka navigates its path forward, it is essential to understand both the opportunities and challenges the IMF’s involvement brings. In this article, we’ll analyze Sri Lanka’s economic prospects under the […] - [Sri Lankan Economic Indicators: A Key Priority for the General Election and Voters](https://lankabiznews.com/priority-for-general-election-and-voters/): As Sri Lanka approaches its upcoming general election, economic issues sit at the heart of the debate. The country’s economic indicators have become a top priority for voters, who seek clear strategies for sustainable growth, financial stability, and development. In a nation that has faced inflationary pressures, currency depreciation, and external debt challenges, understanding these indicators—and their significance for the general election—is crucial for informed voting decisions. This article explores the major economic indicators of Sri Lanka, how they affect the general election, and why voters are focusing on these critical issues when choosing their next leaders. 1. Economic Growth and […] - [Opportunities for Attracting Foreign Direct Investments to Sri Lanka](https://lankabiznews.com/foreign-direct-investments-to-sri-lanka/): Sri Lanka, nestled strategically along major shipping routes in the Indian Ocean, presents unique opportunities to attract Foreign Direct Investments (FDIs) that can catalyze economic growth, create jobs, and enhance global connectivity. As Sri Lanka seeks to rebound from economic challenges and position itself as a competitive market in Asia, understanding the pathways for FDI and the sectors ripe for investment is crucial. This article explores the opportunities Sri Lanka offers for attracting FDIs, shedding light on the key areas, challenges, and strategies that can drive meaningful investment into the island. 1. Strategic Geographic Location Sri Lanka’s location is one of […] - [The Tourism and Leisure Sector in Sri Lanka: A Tapestry of Potential](https://lankabiznews.com/the-tourism-and-leisure-sector-in-sri-lanka/): Sri Lanka, often described as the pearl of the Indian Ocean, boasts a rich tapestry of natural beauty, cultural heritage, and untapped potential that makes its tourism and leisure sector a focal point for economic revival and growth. As we delve into the prospects of this sector in 2024, it’s clear that Sri Lanka stands at a pivotal moment, with opportunities abounding, yet challenges that need strategic navigation. The Allure of Sri Lanka Sri Lanka’s appeal as a tourist destination is multifaceted. From its golden beaches like Mirissa and Unawatuna to the cultural triangle encompassing ancient cities like Anuradhapura, Polonnaruwa, and […] - [Sri Lanka's Economic Odyssey: Navigating the Turbulent Waters in 2024](https://lankabiznews.com/sri-lankas-economic-odyssey-turbulent-waters/): As we delve into the economic landscape of Sri Lanka in late 2024, the island nation continues to grapple with the aftermath of one of its most profound economic crises in recent history, a saga that began in 2019 and plunged the country into unprecedented financial turmoil. Here’s an overview of the current economic concerns, recovery efforts, and the sentiment reflected on platforms like X. The Economic Crisis in Retrospect The crisis, which saw its peak around 2022, was marked by soaring inflation rates hitting 50%, severe foreign exchange shortages, and a first-ever sovereign default. This crisis was catalyzed by a […] - [Apparel Exports Surge by 19% in September: Sri Lanka's Resilient Industry](https://lankabiznews.com/apparel-exports/): Sri Lanka’s apparel industry, one of the country’s key export sectors, continues to demonstrate its resilience and adaptability in the face of global challenges. In September 2024, apparel exports grew by an impressive 19% year-over-year, reaching $397 million. This surge represents a strong performance, contributing to the cumulative figure of $3.55 billion in exports over the first nine months of the year, a 4% increase compared to the same period in 2023. This growth in apparel exports is a positive signal for Sri Lanka’s economic recovery, following years of turbulence caused by the global pandemic, geopolitical tensions, and shifts in international […] - [The Importance and Relevance of BRIC to the World’s Markets and Consumers: A Business Perspective](https://lankabiznews.com/bric-to-the-worlds-markets-and-consumers/): BRIC, an acronym for Brazil, Russia, India, and China, represents a group of emerging economies that have made a significant impact on global markets and consumer behavior. Since its inception in 2001 by economist Jim O’Neill, the BRIC concept has been a focal point for businesses worldwide, given the combined economic potential and influence of these nations. Although South Africa later joined the group to form BRICS, the original BRIC economies remain pivotal in shaping global markets and influencing consumer trends. This blog post explores the importance and relevance of BRIC to the world’s markets and consumers, focusing on how businesses […] - [Sri Lanka Set to Be Removed from IMF Surcharge List: A Milestone in Economic Recovery](https://lankabiznews.com/sri-lanka-set-to-be-removed-from-imf-surcharge-list/): Sri Lanka is on the cusp of a significant milestone in its journey towards economic recovery, with the International Monetary Fund (IMF) set to remove the country from its surcharge list of nations subject to additional lending fees. This decision, part of the IMF’s new reforms that will come into effect on November 1, 2024, signals an essential turning point for Sri Lanka, which has been grappling with severe financial challenges in recent years. As one of eight countries to benefit from these reforms, Sri Lanka’s removal from the surcharge list is a welcome relief that will contribute to the nation’s […] - [Got Trapped in a Digital Scam? 5 Smart Steps to Secure Yourself Quickly](https://lankabiznews.com/5-smart-steps-to-secure-yourself-quickly-from-digital-scam/): As shoppers start to spend more digitally, fraudsters actively seek vulnerable shoppers for financial scams. Emerging digital payment frauds can catch even the most cautious users by surprise. Once trapped, how does one get out of it? Here are five effective tips from Visa to help act swiftly and minimise the risk if you’ve been duped. Together, we can cultivate a safe and secure digital ecosystem by being more aware, safeguarding our devices and staying informed and vigilant, not just for ourselves but also for others around us. - [Sri Lanka's Digital Economy Growth: A Pathway to Transformation](https://lankabiznews.com/sri-lankas-digital-economy-growth-transformation/): Sri Lanka is rapidly emerging as a digital economy hub, with its government-driven initiatives and private sector collaboration positioning the country for substantial growth. By 2030, Sri Lanka’s digital economy is projected to become a $15 billion industry, underscoring the country’s commitment to innovation, digitalization, and entrepreneurship. As the country continues to recover from economic turbulence, the digital economy is a beacon of hope, providing new opportunities for businesses and individuals alike. This transformation is not only reshaping traditional industries but also paving the way for new sectors to thrive. In this blog, we will explore the factors driving this digital […] - [Rise of the Sri Lankan Rupee: What It Means for the Economy and Future Growth](https://lankabiznews.com/what-it-means-for-the-economy-and-future-growth/): The Sri Lankan rupee has shown a notable rise in strength against the US dollar, nearing a 10% appreciation. This development, while encouraging, is the result of a series of strategic interventions by the Central Bank of Sri Lanka (CBSL), along with evolving global economic conditions. The appreciation of the rupee is a welcome sign of recovery for the Sri Lankan economy, which has been facing significant challenges over the past few years(Future Growth). However, the implications of this rise stretch far beyond currency conversion rates. The rupee’s strengthening has both immediate and long-term effects on trade, inflation, foreign investment, and […] - [Understanding Green Bonds and Their Significance in Today’s Economy](https://lankabiznews.com/green-bonds-and-their-significance-in-todays/): In the growing conversation around sustainability, environmental responsibility, and the global push toward a greener economy, one financial instrument has risen to prominence — green bonds. These bonds have become a critical tool for both governments and corporations seeking to finance environmentally beneficial projects. This article delves into what green bonds are, their significance, and why they are a key player in the fight against climate change, especially from the perspective of developing countries like Sri Lanka. What Are Green Bonds? A green bond is a type of fixed-income instrument designed specifically to support projects that have a positive environmental impact. […] - [The Status of the Energy Industry in Sri Lanka and Why Price Cuts Are Not Feasible](https://lankabiznews.com/status-the-energy-industry-sri-lanka/): Sri Lanka’s energy sector plays a critical role in the country’s economic stability and development. The nation’s power and energy needs are closely tied to various external and internal factors, including fuel prices, global energy trends, and domestic energy policy. As Sri Lanka embarks on a journey toward economic recovery, discussions around energy costs have come to the forefront. Despite increasing public demand for electricity price cuts, the economic realities and current status of the power sector make it clear that significant price reductions are not feasible in the short term. In this blog, we will explore the status of the […] - [Sri Lanka's Creditors Gain Flexibility in Bond Laws: Business Implications and Global Impact](https://lankabiznews.com/sri-lankas-creditors-gain-flexibility-in-bond-laws/): Sri Lanka has made headlines once again, but this time, it’s not just about economic recovery or financial challenges. The country’s creditors have secured an unprecedented option—the ability to ditch New York law governing the nation’s bonds, giving them a level of legal flexibility seldom seen in international debt markets(Bond Laws). This move, which reshapes the landscape of sovereign debt restructuring, has far-reaching implications not just for Sri Lanka, but for emerging markets and global business relations as well. The Background: Sri Lanka’s Debt Dilemma Like many countries in the developing world, Sri Lanka has faced significant economic hardship, exacerbated by […] - [The Benefits of Bringing Back the Online Visa System for Sri Lanka from a Tourism and Leisure Industry Viewpoint](https://lankabiznews.com/bringing-back-the-online-visa-system/): The tourism industry plays a pivotal role in Sri Lanka’s economy, contributing significantly to the nation’s GDP and employment. However, in recent years, challenges such as the global pandemic and economic downturn have slowed the progress of this vital sector. To revitalize tourism, one strategic move is reintroducing the online visa system. This article explores the myriad benefits of restoring the Sri Lanka visa online application process, focusing on how it can positively impact the tourism and leisure industry. Streamlining the Visitor Experience One of the key advantages of reintroducing the Sri Lanka visa online system is the convenience it offers […] - [Challenges for the Sri Lankan Economy Under the New President](https://lankabiznews.com/economy-under-the-new-president/): Sri Lanka’s economy is at a critical juncture, facing numerous challenges under its new president, but there is hope for economic recovery. The country, which has endured years of financial mismanagement, political instability, and external shocks, now finds itself grappling with several critical issues that need immediate attention to ensure a sustainable recovery. While the new leadership provides a fresh opportunity for reform and stabilization, the road ahead is fraught with challenges. In this blog post, we will explore the primary challenges facing the Sri Lankan economy under the new president, focusing on the economic recovery trajectory, structural reform needs, debt […] - [The Critical Path Forward for Sri Lanka's Economic Recovery: Linking to the Right Presidential Outcome](https://lankabiznews.com/linking-to-the-right-presidential/): Sri Lanka’s economic recovery has been a subject of intense national and international scrutiny following one of the worst economic crises in its history. With inflation soaring, a currency that dramatically lost value, and debt levels that seemed insurmountable, the country was on the brink of collapse(Right Presidential). However, thanks to focused fiscal reforms, debt restructuring efforts, and a long-term vision for recovery, Sri Lanka is gradually regaining stability. As the country prepares for the upcoming presidential election, the direction in which it heads next will have a decisive impact on this recovery. The leader elected to the highest office will […] - [The Banking Industry Potential for Sri Lanka with Port City: Economic Benefits](https://lankabiznews.com/the-banking-industry-potential-for-sri-lanka-with-port-city/): Sri Lanka’s Port City Colombo has been a focal point of interest, promising to transform the island nation into a global business and financial hub. Among the sectors poised to benefit most from the development of this ambitious project is the banking industry. With its strategic location, enhanced infrastructure, and favorable regulatory frameworks, Sri Lanka stands on the brink of becoming a financial powerhouse in South Asia. In this blog post, we will explore the potential of Sri Lanka’s banking sector with Port City Colombo as the catalyst, emphasizing the economic benefits and opportunities that could reshape the country’s financial landscape. […] - [The Shipping Industry and the Growth of Ports in Sri Lanka: An Economic Perspective](https://lankabiznews.com/the-growth-of-ports-in-sri-lanka/): Sri Lanka’s strategic location at the crossroads of major global shipping lanes has long made its ports key contributors to the nation’s economy. Positioned at the center of the East-West maritime route, Sri Lanka has utilized its geographical advantage to become a hub for transshipment, trade, and logistics in South Asia. In recent years, there has been significant development in the shipping industry and the growth of ports, driven by targeted government policies and private sector investments. From the expansion of existing facilities to attracting global shipping lines, the role of ports in the economic growth of Sri Lanka cannot be […] - [Revitalizing Sri Lanka’s Tea Industry: A Crucial Step for Economic Growth](https://lankabiznews.com/revitalizing-sri-lankas-tea-industry/): Sri Lanka’s tea industry, known worldwide for its distinctive Ceylon tea, holds a significant position in the country’s economy. Generating over $1.3 billion annually, tea is not just a cultural symbol but also a cornerstone of Sri Lanka’s economic infrastructure. However, challenges such as climate change, fluctuating global demand, outdated practices, and inconsistent policies have hindered its full potential. With the right reforms, this sector could contribute even more significantly to the nation’s economic recovery and growth, driving it to new heights. The Current State of Sri Lanka’s Tea Industry As of today, Sri Lanka remains one of the world’s top […] - [Sri Lanka's Economic Recovery: A Financial Perspective](https://lankabiznews.com/sri-lankas-economic-recovery-a-financial-perspective/): Sri Lanka has faced a significant economic crisis over the past few years, exacerbated by the COVID-19 pandemic, a foreign exchange shortage, and fiscal mismanagement. However, recent reforms, support from international institutions like the International Monetary Fund (IMF), and a growing export sector have put the country on the path to Economic Recovery. In this blog post, we’ll explore the key financial strategies driving Sri Lanka’s recovery and the steps being taken to rebuild the economy. The Role of the IMF in Economic Stability One of the most pivotal steps toward Sri Lanka’s economic recovery was the agreement with the IMF. […] - [Climate Challenge: Sri Lanka’s First Hackathon for Data Professionals – A Game Changer in Climate Solutions](https://lankabiznews.com/game-changer-in-climate-solutions/): As the world grapples with the ever-pressing issue of climate change, Sri Lanka is stepping up to the plate with a unique approach that merges technology and data to find innovative solutions(Game Changer in Climate Solutions). The country recently launched its first-ever Climate Challenge Hackathon, aimed at inviting data professionals to contribute their skills toward tackling climate-related issues. This bold initiative represents a major step forward in the nation’s efforts to address the global climate crisis. The Rising Need for Data-Driven Solutions Climate change is one of the most significant challenges of our time. It affects everything from agriculture and water […] - [President Opens “The Mall” Duty-Free Shopping Complex in Colombo Port City](https://lankabiznews.com/president-opens-the-mall-duty-free-shopping-complex-in-colombo-port-city/): President Ranil Wickremesinghe officially opened “The Mall,” a newly constructed duty-free shopping complex in the Colombo Port City area today (September 5). This marks the debut of the first urban duty-free shopping mall in the region, featuring a range of stores, restaurants, and various retail outlets. Notable international duty-free retailers, including One World, China Duty Free Group (CDFG), and Flemingo will be operating within the mall, positioning the Colombo Port City as a premier shopping destination. Following the unveiling of a commemorative plaque and the official opening, the President embarked on an observation tour of the new complex. In his address […] - [Sri Lanka Tourism Flies High at Global Bird Fair in Rutland, UK 2024](https://lankabiznews.com/sri-lanka-tourism-flies-high-at-global-bird-fair-in-rutland-uk-2024/): Highlights Unique Wildlife and Nature Tourism Assets of the Destination Sri Lanka Tourism made a significant impact with its presence at the Global Bird Fair 2024, held recently in Rutland, United Kingdom, underscoring the country’s commitment to promoting its unique wildlife and nature tourism assets. The event, a premier gathering for wildlife enthusiasts and conservationists worldwide, proved to be an ideal platform for Sri Lanka to showcase its diverse avifauna and unique natural habitats. Sri Lanka raved on its prestigious status of being one of the top 33 bio-diversity hot spots in the world, drawing the special attention of all visitors. […] - [Tourism Boom May Surpass 2018 Levels, Record Arrival of 1,095,675 Foreign Tourists by July 15](https://lankabiznews.com/tourism-boom-may-surpass-2018-levels-record-arrival-of-1095675-foreign-tourists-by-july-15/): Secretary of the Ministry of Tourism and Lands, Somarathne Vidanapathirana, stated that 1,095,675 tourists have arrived in Sri Lanka as of July 15, 2024. He expressed optimism that the country could surpass its 2018 tourism peak, achieved post-war, if current trends continue. He highlighted the significant setbacks the tourism industry faced due to the Easter attacks, the COVID-19 pandemic, and the economic crisis. However, he noted that the concerted efforts of the Ministry of Tourism and its affiliated institutions have led to a promising recovery. Addressing the press briefing titled “Two Years of Progress and Advancement” held at the Presidential Media […] - [5G Technology: Transforming the Business Landscape](https://lankabiznews.com/5g-technology/): What is 5G? 5G, or the fifth generation of mobile networks, represents the latest leap forward in wireless technology. Building on the foundations of 4G, 5G promises unprecedented high-speed connectivity, low latency, and the ability to support many connected devices. Unlike its predecessors, 5G aims to revolutionize not just mobile broadband but the entire spectrum of digital communication. How does it work? 5G operates through a combination of new radio frequencies and advanced communication technology. It utilizes higher frequency bands, known as millimeter waves, which can carry more data at faster speeds. These are supported by a dense network of small […] - [Sri Lanka Among Forbes’ Top Three Must-Visit Destinations for Summer 2024](https://lankabiznews.com/sri-lanka-among-forbes-top-three-must-visit-destinations-for-summer-2024/): Sri Lanka has been recognized as one of the ‘3 Must-Visit Travel Destinations for Summer 2024’ by a specialist contributor to the prestigious Forbes magazine. Alongside Paros in Greece and Mauritius, Sri Lanka was highlighted for offering unique and compelling travel experiences. “Sri Lanka, another island country floating in the Indian Ocean, is a land of verdant highlands and stunning beaches. Its appeal is a blend of surf and wellness cultures, similar to Bali before its boom in popularity and resulting over-tourism,” noted travel and business professional Kathleen Peddicord in her Forbes article. The article further praised the island nation for […] - [Approval Granted for “Starlink” to Provide Satellite-Based Internet Services in Sri Lanka](https://lankabiznews.com/approval-granted-for-starlink-to-provide-satellite-based-internet-services-in-sri-lanka/): State Minister of Technology, Kanaka Herath, announced that the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted preliminary approval for ‘Starlink’ to provide satellite-based internet services in Sri Lanka. The State Minister emphasized that a two-week period has been allocated for a formal public consultation process regarding the approval of this internet service. Following this period, the Telecommunications Regulatory Commission will take steps to implement the service in Sri Lanka. State Minister Kanaka Herath shared these remarks during a special media briefing held today (06) at the Presidential Media Centre (PMC). The minister emphasized that this initiative will deliver a […] - [Sri Lanka hopes to launch Starlink Satellite Internet Service](https://lankabiznews.com/sri-lank-hopes-to-launch-starlink-satellite-internet-service/): Elon Musk’s satellite internet service is expected to launch services in Sri Lanka this year on an invitation extended by President Ranil Wickremasighe when he met the billionaire businessman in Bali Indonesia recently, according to official sources. Elon Musk’s Starlink internet is now open for pre-order in Sri Lanka, with the public able to reserve Starlink by paying a fully refundable US$ 99 deposit. Starlink aims to commence service in Sri Lanka in 2024, pending regulatory approval.Orders will be fulfilled on a first-come, first-served basis within each coverage area. Starlink’s Internet Constellation is one of the biggest breakthroughs in commercial satellite […] - [AB Mauri Lanka Unveils New Innovative Baking Ingredient Lineup](https://lankabiznews.com/ab-mauri-lanka-unveils-new-innovative-baking-ingredient/): Portfolio Extension to Be Introduced at CAFÉ 2024 Culinary Art Food Expo AB Mauri Lanka – a division of AB Mauri based in Peterborough, U.K. – is set to launch a trio of new products at the upcoming CAFE 2024 Culinary Art Food Expo on June 7-9 at BMICH. Each bakery ingredient is designed to assist commercial and artisan bakers to answer opportunities behind vegan baking, egg replacement, popular sourdough flavors and even on-shelf stackability. Bakers attending the food expo will be able to find out more information on FOVO vegan and egg replacement, Aromaferm cereal ferments and Vega for bun […] - [Sampath Bank Introduces Revolutionary Payment Method, Sampath PayBand, a Wearable Device for Seamless Payments First Time in Sri Lanka](https://lankabiznews.com/sampath-bank-introduces-revolutionary-payment-method-sampath-payband/): As the global trend towards contactless payments continues to surge, Sampath Bank proudly unveils its latest innovation: Sampath PayBand, the versatile Wearable Payment Device. This groundbreaking solution promises to redefine the transaction landscape in Sri Lanka, catering to the evolving preferences of the younger generation and tech-savvy consumers. Representing a significant milestone as the country’s first of its kind, Sampath PayBand, heralds a new era in convenient and secure transactions. Designed with a meticulous focus on enhancing the customer experience and streamlining payment processes, Sampath PayBand features a sleek Silicon Wristband embedded with a payment chip. Seamlessly integrated with Sampath Bank […] - [ITC RATNADIPA-AN ICON OF RESPONSIBLE LUXURY LAUNCHED IN COLOMBO](https://lankabiznews.com/an-icon-of-responsible-luxury-launched-in-colombo/): The 352-room hotel, with ITC Hotels’ world-acclaimed cuisines will be a jewel in Colombo’s skyline ITC Limited’s wholly owned subsidiary Welcom Hotels Lanka (Private) Limited has launched ITC Ratnadipa, a jewel in Colombo’s skyline that promises to enrich the tourism and hospitality landscape of Sri Lanka. This flagship hospitality icon of ITC Hotels was inaugurated today by the President of the Democratic Socialist Republic of Sri Lanka, His Excellency Ranil Wickremesinghe in the presence of Hon’ble Prime Minister of Sri Lanka, Dinesh Gunewardena, His Excellency Santosh Jha, Indian High Commissioner to Sri Lanka and Mr Sanjiv Puri, Chairman and Managing Director, ITC […] - [Port City Colombo Makes Striking Progress in Attracting Key Investments, Amidst Growing Investor Confidence](https://lankabiznews.com/port-city-colombo-makes-striking-progress/): Port City Colombo, a multi-service Special Economic Zone (SEZ) and a regional financial centre and business hub, has made significant progress in capturing key investments, as the project gears up for a tenacious drive to attract prospective land development and business set-up investors from the South Asian, APAC, and Middle Eastern regions before the end of 2024. With a strong emphasis on capturing high-value Foreign Direct Investments, Port City Colombo has on-boarded approximately forty-one companies registered as Authorised Persons (AP’s), as approved by the Colombo Port City Economic Commission. Fifty-two percent (52%) of the project’s Marina District, which includes South Asia’s […] - [Uma Oya Development Project inaugurated](https://lankabiznews.com/uma-oya-development-project/): Iran’s President Dr Ebrahim Raisi & Sri Lankan President Ranil Wickremesinghe jointly opened the Hydro Power Plant at the Uma Oya Multipurpose Development Project on Wednesday (24). In addition, a highlight of President Raisi’s visit will be the signing of five memorandums of understanding (MoUs), aimed at bolstering bilateral relations between Iran and Sri Lanka. The ceremony, chaired by the presidents of Iran and Sri Lanka, will symbolize the cooperation between the two nations in this significant infrastructure endeavour.   Uma Oya Multipurpose Development Project:The Uma Oya Multipurpose Development Project (UOMDP) is a significant endeavour of utmost importance to Sri Lanka.Its […] - [Visa recognises ComBank for excellence in the launch of Corporate cards](https://lankabiznews.com/visa-recognises-combank-for-excellence-in-the-launch-of-corporate-cards/): Visa, the global payment solutions company, honoured Commercial Bank of Ceylon for ‘Excellence in Launch of Affluent and Mass Corporate Card Variants’ at a Visa Commercial Solutions Client Forum in Colombo recently, in recognition of the Bank’s commitment to the introduction of Visa’s Corporate Card series in the local market. The Visa Commercial Solutions Excellence award was presented by Visa Country Manager for Sri Lanka and Maldives Ms Avanthi Colambage and was accepted on behalf of the Bank by Deputy General Manager – Corporate Banking Miss Tamara Bernard. Visa’s Head of Commercial and Money Movement Solutions – India and South Asia […] - [Visa sees 35%+ surge in debit card spends; trend expected to continue in the upcoming Avurudu season](https://lankabiznews.com/visa-sees-35-surge-in-debit-card-spends-in-sri-lanka/): Visa (NYSE: V), the global leader in digital payments, today announced that Visa debit card spends saw a significant increase of over 35% in the past year, indicating healthy growth of digital payments in Sri Lanka. This increase is buoyed by a 30%+ increase in face-to-face spends and over 40% increase in ecommerce spends. As the Tamil & Sinhala New Year celebrations commence in the country, retail transactions are picking up with more active shoppers during the festive period. Consumers are increasingly paying by debit card, opting for safer, simpler and more convenient transactions. Avanthi Colombage, Country Manager – Sri Lanka […] - [IMF and Sri Lankan Authorities Reach Staff-Level Agreement on Economic Policies](https://lankabiznews.com/imf-and-sri-lanka-authoritie-reach-staff-level-agreement-on-economic-policies/): Completion of the review by the IMF’s Executive Board requires: (i) the implementation by the authorities of prior actions; and (ii) the completion of financing assurances review, confirming multilateral partners’ financing contributions and assessing adequate progress with debt restructuring. After constructive discussions in Colombo, IMF Senior Mission Chief Mr. Peter Breuer and Deputy Mission Chief Ms. Katsiaryna Svirydzenka issued the following statement: “The IMF team reached staff-level agreement with the Sri Lankan authorities on the second review under the economic reform program supported by a 4-year Extended Fund Facility (EFF) arrangement and concluded the 2024 Article IV Consultation discussions. The EFF […] - [Standard Chartered’s Global Research Team offers economic perspectives for Global and Sri Lankan markets](https://lankabiznews.com/economic-perspectives/): Sri Lanka’s economy showed a strong recovery in 2023 following the IMF deal opined Standard Chartered Bank’s Global Research team that conducted its 2024 H1Global Research Briefing (GRB) in Colombo recently. The event themed ‘A soft landing, with risks’ was attended by corporate, commercial and institutional banking clients of the Bank. It provided a valuable platform for participants to gain insights on the global and Sri Lankan economic outlooks for the first half of 2024. The briefing opened with welcome remarks from Anuk De Silva, Head of Corporate Affairs, Brand & Marketing at Standard Chartered Sri Lanka, followed by an opening […] - [Introducing a New Legal Framework for a Modern Economy- President](https://lankabiznews.com/new-legal-framework-for-a-modern-economy/): President Ranil Wickremesinghe revealed that over the past 14 months, the Parliament has enacted 42 new laws to facilitate the country’s economic transformation. Furthermore, the President highlighted the necessity of passing an additional 62 laws through Parliament. He underscored that if this cannot be achieved in the current parliamentary session, the bills will be reintroduced in the subsequent session for approval. The President made these remarks, during his keynote address at the “What’s New” dialogue on Legal Reforms with young legal professionals. The ‘What’s New’ project by the Presidential Secretariat under the guidance of President Ranil Wickremesinghe to recognise the need […] - [Women Entrepreneurs and Their Key Role in Economic Growth](https://lankabiznews.com/women-entrepreneurs/): In recent years, the business landscape has witnessed a remarkable surge in the number of women entrepreneurs, breaking traditional barriers and carving their path towards success. This phenomenon is not merely a shift in demographics but a testament to the skills and resilience that women bring to the entrepreneurial table. This article explores the significant contribution of women entrepreneurs to the economy and offers insights into the skills and strategies that pave the way for success. Unveiling the Skills that Steer Success Women entrepreneurs possess a unique set of skills that contribute to their success in the business world. Resilience and […] - [Sri Lanka’s tourism poised for remarkable growth as visa free travel enhances industry potential](https://lankabiznews.com/visa-free-travel-sri-lankas-tourism/): Tourism in Sri Lanka is on a high growth trajectory following a boost in Sri Lanka’s potential as a must-visit destination. Visa free travel for tourists from China, India, Indonesia, Russia, Thailand, Malaysia and Japan has provided the right nudge for tourists to put Sri Lanka on the top of their travel bucket list. Nationals from these countries planning to visit Sri Lanka need to apply for Electronic Travel Authorization(ETA) before arriving, subject to granting of visa free of charge. The scheme is valid until March 2024 while the visa is valid for 30 days, permitting double entry from the date […] - [Sri Lanka Embraces Indian Tourists with Virtual Launch of UPI Transactions via LankaQR](https://lankabiznews.com/upi-transactons/): In a ground-breaking move aimed at enhancing the convenience and security of digital payments for Indian tourists in Sri Lanka, a virtual launch event marked the introduction of Unified Payments Interface (UPI) transactions through LankaQR. The initiative, spearheaded by a collaboration between NPCI International Payments Limited (NIPL) and LankaPay (Pvt) Ltd, promises to revolutionize the tourist experience by providing a seamless payment solution. The partnership between India and Sri Lanka, further solidified during the President’s visit to India in July 2023, and paved the way for innovative bilateral initiatives. Recognizing India’s remarkable strides in digitalization and its potential to drive economic […] - [The Asia Foundation to train 300,000 small businesses in Asia on digital safety, with a focus on 5,000 in Sri Lanka.](https://lankabiznews.com/sme-train-on-digital-safety/): Google.org, the philanthropic arm of Google, is contributing $15 million to The Asia Foundation to launch the APAC Cybersecurity Fund. In collaboration with the Cyber Peace Institute and Global Cyber Alliance, the fund aims to enhance the digital safety capabilities of 300,000 underserved micro and small businesses, nonprofits, and social enterprises The Asia Foundation, working with implementing organizations and universities across the region, aims to empower local communities and students through upskilling tools and cyber clinics to protect against online risks. The initiative will cover 13 locations, including Bangladesh, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka, […] - [Sri Lanka Tourism confident of monumental growth in 2024](https://lankabiznews.com/sri-lanka-tourism-confident-of-2024/): Sri Lanka has set ambitious targets, aiming to attract 2.3 million tourists and generate over $4 billion from tourism in 2024. Looking ahead to 2030, the country is eyeing a substantial increase in arrivals to 5 million, with an impressive revenue projection of $21.6 billion. Central to this strategy is the goal of increasing average spending per visitor to $4,000, with a focus on attracting high-end tourists. - [ComBank and Visa launch Corporate Credit Cards in Sri Lanka](https://lankabiznews.com/visa-launch-corporate-credit-cards/): PRESS RELEASE The Combank has launched the Visa Signature and Visa Platinum Corporate Credit Cards in Sri Lanka in collaboration with Visa. The corporate cards will be issued to employees of corporates and other business entities. This new product enables corporates to manage expenses of employees, and the card is linked to a corporate credit card account of each company, the Bank said. Since Visa cards are accepted globally, these cards can be used by employees of corporates to pay anywhere in the world for travel, entertainment and other expenses authorised by their respective companies. The Visa Signature Corporate Credit Cards […] - [Pekoe Trail featured in National Geographic’s “Top 20 Travel Experiences for 2024”](https://lankabiznews.com/pekoe-trail-featured-in-national-geographics-top-20-travel-experiences-for-2024/): National Geographic’s annual guide, Best of the World 2024, showcases the most thrilling, meaningful, and unique travel experiences for the year. The Pekoe Trail’s recognition is a testament to its allure, as it invites travelers to explore the picturesque landscapes of Sri Lanka’s tea country. This year’s travel guide was a collaborative effort involving National Geographic’s international editorial teams, reaching millions of readers globally through their magazines and websites. The guide not only highlights must-see destinations but also expands its recommendations to encompass a comprehensive suite of must-do, must-stay, and must-consume suggestions to enhance travelers’ engagement with these destinations. Pekoe Trail […] - [Visa Accelerator Program 2024 now open for Applications from Fintechs in Sri Lanka](https://lankabiznews.com/visa-accelerator-program-2024-now-open-for-applications-from-fintechs-in-sri-lanka/): The fourth edition of the program invites applications from growth-stage startups to solve payments and commerce challenges of tomorrow Colombo, January 29, 2024: Visa (NYSE: V), the global leader in digital payments, today announced the launch of the fourth edition of Visa Accelerator Program with an open call for applications. The initiative aims to enable startups in Sri Lanka to unlock growth potential by collaborating with Visa’s payments experts. The 2024 edition focuses on new opportunity areas – Artificial Intelligence (AI), Global Money Movement and Loyalty of the Future, with an emphasis on areas like Digital Acceptance for Micro, Small and […] - [Mirissa Beach in Sri Lanka Secures a Spot in Lonely Planet’s Top 100 Beaches for 2024](https://lankabiznews.com/mirissa-beach-in-sri-lanka-secures-a-spot-in-lonely-planets-top-100-beaches-for-2024/): In the prestigious list of Lonely Planet’s top 100 beaches for 2024, Mirissa Beach in Sri Lanka has rightfully earned its place. Nestled gracefully along the southern coast of Sri Lanka, Mirissa Beach has gained global recognition as an enticing destination in the tourism industry, standing proudly among the world’s most captivating beaches. Renowned for its immaculate shores, turquoise waters, and vibrant cultural atmosphere, Mirissa Beach beckons travelers to a tropical paradise. For those planning a visit to Sri Lanka, let’s delve into the charm of Mirissa Beach, exploring its famous shoreline and understanding why it has become a must-visit destination […] - [Benefits of Using Temporary Mail](https://lankabiznews.com/benefits-of-using-temporary-mail/): Benefits of Using Temporary Mail Situations Where Temporary Mail is Useful Limitations of Temporary Mail While temp mail services offer a range of benefits, there are some limitations to be aware of: - [Sri Lankan Apparel Industry's Recovery hits $415.6M](https://lankabiznews.com/sri-lanka-apparel-industrys-recovery-hits-415-6m/): December marked the highest ever performance in a year though the industry ended 2023 with negative growth. Exports in December amounted to $ 415.6 million as per provisional data from the Joint Apparel Association (JAAF). The December 2023 figure is the highest since December 2022’s tally of $ 451 million.  - [AI will affect up to 40% of jobs worldwide-IMF Chief says](https://lankabiznews.com/ai-will-affect-up-to-40-of-jobs/): AI will affect 40% of jobs worldwide, replacing some and complementing others. We need a careful balance of policies to tap its potential We stand at the precipice of a technological revolution poised to drive productivity, fuel global growth, and elevate incomes worldwide. Simultaneously, however, this surge in technology holds the potential to displace jobs and deepen societal inequalities. The rapid advance of artificial intelligence has captivated the world, causing both excitement and alarm, and raising important questions about its potential impact on the global economy. The net effect is difficult to foresee, as AI will ripple through economies in complex ways. […] - [Central Bank of Sri Lanka Unveils A Vision of Economic Resilience for 2024](https://lankabiznews.com/central-bank-of-sri-lanka-unveils-2024-plans/): Central Bank of Sri Lanka, in a groundbreaking announcement, revealed its strategic vision for 2024, focusing on the adoption of a singular policy rate mechanism. The move aims to bolster economic recovery while concurrently sustaining a low-interest environment and advancing key initiatives like the International Monetary Fund (IMF) program, external debt restructuring, and comprehensive reforms. - [Sri Lankan Sapphires shine in Louis Vuitton's Spirit High Jewellery Collection 2024](https://lankabiznews.com/sri-lankan-sapphires-shine-in-louis-vuittons-spirit-high-jewellery-collection-2024/): Sri Lankan Sapphires are highlighted in Louis Vuitton Jewellery Collection Spirit, giving centre stage to the island's captivating gems. - [Sri Lanka's VAT targets to meet LKR 1,400 Billion in 2024](https://lankabiznews.com/sri-lankas-vat-targets-to-meet-lkr-1400-billion-in-2024/): Sri Lanka's VAT is poised to achieve a significant boost in revenue, anticipating a whopping 1,400 billion rupees from the Value Added Tax (VAT) in the fiscal year 2024. This optimistic projection comes in the wake of strategic measures taken to expand the tax base and implement a rate hike, as revealed by officials from the President office in Colombo. - [Pine Labs Limited's Credit+ platform powers a secure and scalable multi-currency prepaid forex instrument for Bank of Ceylon](https://lankabiznews.com/pine-labs-limited-credit-platform-bank-of-ceylon/): Sri Lanka, September 29, 2025 – Global fintech platform, Pine Labs Limited today announced its partnership with Bank of Ceylon in Sri Lanka. This banking-fintech partnership will enable the bank to issue and manage prepaid multi-currency travel cards to its customers. Powered by Pine Labs Limited’s Credit+ platform, the card issuance technology for the bank built on modular architecture will offer an integrated issuing stack for the bank for issuance of these cards at scale and adhere to the security requirements. This card is a physical card which is issued under the Mastercard scheme and allows Bank of Ceylon to cater […] - [SVAT removal: exporters warn of a US$80m monthly cash squeeze without a tested VAT refund system](https://lankabiznews.com/svat-removal-cash-crunch-vat-refunds-sri-lanka/): With just days to go before the abolition of Sri Lanka’s Simplified VAT (SVAT) regime, leading export associations are warning of a severe liquidity shock if the Inland Revenue Department’s new risk-based VAT refund system is not fully operational from day one. Industry estimates point to a monthly cash squeeze of about US$80 million locked in unpaid input VAT across the export supply chain, a level that could weaken working capital, delay supplier payments and blunt the country’s fragile export recovery. Exporters accept that ending SVAT has been signalled for months. The concern is execution. Refunds for fully zero-rated exporters are, […] - [Sri Lanka Tops Time Out’s Global List for October 2025](https://lankabiznews.com/sri-lanka-tops-time-out-global-list-october-2025/): Why the Ranking Matters for Tourism, Business and the Wider Economy The international travel magazine Time Out has announced its list of the best places to visit in October 2025, placing Sri Lanka firmly at the top. The accolade is more than a flattering headline. It highlights an opportunity for the country to strengthen its economy, diversify tourism flows and re-introduce itself to a global audience that is increasingly looking for destinations offering culture, nature and value. What Makes Sri Lanka Stand Out Time Out’s editors point to a mix of features that together create a compelling proposition for travellers: These […] - [Singapore-Based Operator Refuses to Pay X-Press Pearl Damages](https://lankabiznews.com/operator-refuses-to-pay-x-press-pearl-damages/): Economic and Business Consequences for Sri Lanka The refusal by the Singapore-based operator of the X-Press Pearl to honour the compensation order has become more than a legal stand-off. It is a test of how a small, trade-dependent economy manages a large environmental disaster when a foreign counterparty resists payment. The following analysis examines the likely consequences for Sri Lanka’s economy and business environment without revisiting the merits of the judgement itself. Fiscal and Budgetary Pressure Sri Lanka had planned to channel the expected inflow of compensation into several areas: cleaning the affected coastline, rebuilding damaged fisheries infrastructure, restoring marine ecosystems […] - [Sri Lanka’s Digital Payment Reform: Card Fees & QR Payment](https://lankabiznews.com/sri-lanka-digital-payment-reform-card-qr-payment/): Sri Lanka’s policy makers are reviewing the cost of digital payment. The government is considering removing the extra fees charged on debit and credit card transactions while also driving a national shift toward QR-code based mobile payments. This move, now under discussion between the Finance Ministry, the Central Bank and the Inland Revenue Department, is intended to speed up the transition to a fully cashless economy and ease the burden on both consumers and merchants. Background: How Card Fees Work Today When a customer pays with a debit or credit card, the merchant’s bank typically pays a small percentage of the […] - [Sri Lanka’s Economic Outlook: Steady GDP Growth and Forecasts for 2025](https://lankabiznews.com/sri-lanka-economic-steady-gdp-growth-and-forecast/): Sri Lanka’s Economic Outlook | Sri Lanka’s economy is showing signs of steady recovery after years of turbulence. Recent data from the Department of Census and Statistics (DCS) and the Central Bank of Sri Lanka (CBSL) reveal a positive growth trajectory across consecutive quarters. This momentum is being closely watched by investors, policymakers and business leaders eager to gauge the nation’s economic stability. This analysis looks at the country’s quarterly GDP growth, sector performance and forecasts by key international institutions to help businesses and entrepreneurs understand what lies ahead. Quarterly GDP Performance Q1 2025: GDP expanded by 4.8% year-on-year. Industry grew […] - [AB Mauri Lanka Recognises Longstanding Partnership with David Stores at Prime Yeast Launch](https://lankabiznews.com/ab-mauri-lanka-partnership-with-david-stores/): AB Mauri Lanka Private Limited has launched its new Prime Instant Dry Yeast 500g pack, offering a reliable and practical option for bakers across Sri Lanka. The product is designed to perform consistently and meet the daily needs of both professional and home bakers. AB Mauri Lanka Private Limited AB Mauri is a well-known name in the global baking industry, with operations in over 100 countries and 56 manufacturing sites. In Sri Lanka, AB Mauri Lanka has become known for supplying dependable baking products and providing technical support to the local baking community. As part of the launch, AB Mauri Lanka […] - [Sri Lanka’s Cost of Living: How to Manage Household Budgets as Prices Stabilise](https://lankabiznews.com/sri-lanka-cost-of-living-manage-household-budgets/): Sri Lanka has emerged from one of the most turbulent economic periods in its modern history. Inflation that once surged past 70 % in 2022 has slowed sharply, and the rupee has stabilised. Yet many families still feel the pinch because the price level that spiked during the crisis has not fallen. This article explores how the cost of living has evolved, why prices remain stubbornly high, and what practical steps households can take to safeguard their finances. From Crisis to Stability Two years ago Sri Lanka was mired in an unprecedented economic collapse. Foreign reserves were drained, fuel queues stretched […] - [RAMIS at Risk: Sri Lanka’s Rs.10 Billion Tax System Faces Critical Test](https://lankabiznews.com/ramis-at-risk-sri-lanka-tax-system-faces-critical/): Sri Lanka’s Revenue Administration Management Information System (RAMIS), a Rs.10 billion digital tax platform launched in 2016, is underperforming and exposed to serious risk, according to the World Bank’s Public Finance Review – Towards a Balanced Fiscal Adjustment. As the country attempts to rebuild fiscal credibility post-crisis, RAMIS stands at a crossroads: either evolve into a robust digital backbone for tax administration or risk becoming a costly failure. Why RAMIS Matters RAMIS was designed to automate taxpayer services, enable risk-based audits, and reduce leakages in a system handling trillions of rupees in revenue. Instead, core functions; taxpayer portals, automated data analytics, […] - [Sri Lanka’s New Direction: Government Steps Back from Running Businesses](https://lankabiznews.com/sri-lanka-steps-back-from-running-businesses/): Governments across the world have historically launched businesses to provide essential goods and services or to seed industries that the private sector was too small or too cautious to create. Over decades these state-owned enterprises, often called SOEs, became a major part of national economies. Some continue to serve vital purposes, but many drift into irrelevance or become costly burdens. Sri Lanka is now signalling that it will draw a line. Industry and Entrepreneurship Development Minister Sunil Handunneththi recently stated that the government will liquidate 33 non-functional state-owned enterprises and focus on facilitation rather than operating businesses. His announcement is not […] - [Sri Lanka’s Rupee Holds Steady as IMF Tranche Lifts Foreign Reserves](https://lankabiznews.com/sri-lankas-rupee-steady-after-imf-boost/): Sri Lanka has entered a rare moment of calm in its turbulent economic recovery. The latest disbursement from the International Monetary Fund (IMF) has given both the rupee and the country’s foreign reserves a much-needed cushion. For policymakers, it is a small but valuable window of relief. For ordinary citizens, the stability of the currency offers hope that the painful swings in prices and shortages of the past few years may be behind them, at least for now. A Stable Rupee Through mid-September, the Sri Lankan rupee has traded tightly between LKR 301 and 302 per US dollar. This stability is […] - [Sri Lanka Eyes 4.5% GDP Growth in 2025: Can the Momentum Hold?](https://lankabiznews.com/sri-lanka-eyes-4-5-gdp-growth-in-2025/): Sri Lanka’s Central Bank projects the economy will grow by 4.5% in 2025, slightly lower than the estimated 5% expansion in 2024. After years of crisis, this trajectory signals stability, but the margin is tight. Growth depends on structural reforms, foreign investment, and political will. This article examines the outlook, drivers, risks, and what it means for businesses and investors. The Road from Collapse to Recovery of Sri Lanka The economic collapse of 2022 left Sri Lanka facing depleted reserves, soaring inflation, and unsustainable debt. Since then, stabilisation has come through By 2023, growth resumed modestly. In 2024, GDP is estimated […] - [U.S. - China Tensions Hit Business Confidence: What It Means for Global Trade and Sri Lanka](https://lankabiznews.com/u-s-china-tensions-hit-business-confidence/): Business confidence in China has dropped to record lows among U.S. companies. According to the American Chamber of Commerce in Shanghai, only 41% of firms remain optimistic about their five-year outlook, the weakest reading since 1999. The decline reflects ongoing U.S. – China trade tensions, including new tariff threats, stricter regulations, and heightened geopolitical rivalry. For global business, this is more than a political rift. It signals a structural shift in trade flows, investment destinations, and supply chain strategies. For Sri Lanka, which depends heavily on external markets and foreign investment, understanding these shifts is critical. Business Confidence at the Lowest […] - [Starlink's Direct-to-Cell Technology: Revolutionizing Connectivity for Sri Lanka's Businesses in 2025](https://lankabiznews.com/starlinks-direct-to-cell-technology/): Starlink’s Direct-to-Cell Technology – In the rapidly evolving landscape of global telecommunications, Starlink’s Direct-to-Cell (DTC) technology stands out as a game-changer, particularly for emerging markets like Sri Lanka. As of September 2025, with Starlink’s satellite internet services officially launched in the country just two months prior in July, the introduction of DTC capabilities promises to extend seamless mobile connectivity to even the most remote corners of the island. This innovation, developed by SpaceX, allows unmodified smartphones to connect directly to satellites for texting, voice calls, and data, eliminating the need for traditional cell towers. For Sri Lankan businesses grappling with infrastructural […] - [Selling Loss-Making SOEs in Sri Lanka: What to Privatise, What to Fix, and How to Do It Right](https://lankabiznews.com/selling-loss-making-soes-in-sri-lanka-2025/): Selling Loss-Making SOEs in Sri Lanka | Sri Lanka’s state-owned enterprise (SOE) problem is not abstract. In 2022, aggregate SOE losses were in the hundreds of billions of rupees, straining public finances. By 2023, a subset of key SOEs swung to an overall profit, helped by price reforms and tighter controls a sign that disciplined restructuring can move the needle. But the fiscal risk remains, and the question is no longer whether to reform, but how to sequence sales and safeguards to lock in gains without social blowback. Why the State Is Selling Three pressures converge: What’s Actually on the Block […] - [Sri Lanka’s Tourism Act Overhaul: What Must Change, What Hasn’t Changed](https://lankabiznews.com/sri-lankas-tourism-act-overhaul/): Tourism remains one of Sri Lanka’s biggest economic lifelines, contributing nearly 5% of GDP before the pandemic. Yet the Tourism Act of 2005, which was meant to modernise and unify the sector, is today seen as outdated. The government has now launched the process of drafting a new law, with Cabinet approval already granted to replace the existing framework. Deputy Minister of Tourism Prof. Ruwan Ranasinghe confirmed that stakeholder consultations are underway, promising representation for both large players and small- and medium-scale businesses. But to truly revitalise tourism, the new law must balance continuity with reform. This article explores what hasn’t […] - [Commonwealth Bank AI Misstep: A Warning for Businesses on the Cost of Automation](https://lankabiznews.com/commonwealth-bank-ai-misstep-warning-for-business/): Commonwealth Bank of Australia (CBA) decided to reverse its plan of replacing call centre staff with AI “voice bots” has sent ripples across the business world. What was intended as a cost-saving innovation turned into a cautionary tale, exposing the dangers of rushing into automation without fully considering the long-term consequences. What Happened at Commonwealth Bank of Australia CBA announced the replacement of more than 45 call centre jobs with AI-driven voice bots, promising improved efficiency and reduced costs. But the plan quickly backfired. Customers voiced frustration at the poor service experience, and reputational risks began to mount. Within a short […] - [Digital Access for All: Building an Inclusive Future in Sri Lanka](https://lankabiznews.com/digital-access-for-all-in-sri-lanka/): Introduction Digital access is no longer a luxury. It is the foundation of education, commerce, governance, and social participation in the modern economy. For a country like Sri Lanka, where regional disparities remain a challenge, ensuring equal access to digital infrastructure is a national priority. The President’s recent visit to Jaffna underscored this vision, with initiatives such as the launch of an e-library at the Jaffna Public Library and the opening of a Regional Office of the Department of Immigration and Emigration equipped with digital services. These moves, though symbolic, represent the broader ambition of making Sri Lanka a digitally inclusive […] - [Unlocking Sri Lanka’s Potential: The Rise of Sustainable Tourism](https://lankabiznews.com/the-rise-of-sustainable-tourism-sri-lanka/): The Rise of Sustainable Tourism | The Pearl of the Indian Ocean, is renowned for its pristine beaches, lush rainforests, and ancient cultural heritage. From the iconic Sigiriya Rock Fortress to the whale-watching haven of Mirissa, the island’s tourism sector has long been a cornerstone of its economy, contributing 10.4% to GDP in 2019 (WTTC). However, as global travelers increasingly prioritize eco-conscious experiences, sustainable tourism is emerging as a game-changer for Sri Lanka’s economic recovery and long-term growth. For businesses, this shift presents a golden opportunity to tap into a growing market while preserving the island’s natural and cultural treasures. This […] - [Sri Lanka’s Foreign Reserves: From Crisis to Careful Recovery](https://lankabiznews.com/sri-lankas-foreign-reserves/): Sri Lanka’s Foreign Reserves | When Sri Lanka’s economy collapsed in 2022, the numbers were stark and frightening. The country’s foreign reserves, its buffer against external shocks had plunged to about US $1.9 billion. For a nation that needed billions more to service external debt and import essentials, this was practically nothing. The fallout was immediate: long queues for fuel, medicine shortages, blackouts, and eventually, the first sovereign default in the country’s history. Three years later, the picture is different. According to Central Bank Governor Dr. Nandalal Weerasinghe, Sri Lanka’s reserves have climbed back to about US $6 billion as of […] - [Casino-Led Tourism: Can Sri Lanka Gamble Its Way to Growth?](https://lankabiznews.com/casino-led-tourism-can-sri-lanka-gamble-its-way-to-growth/): Introduction Sri Lanka is betting big on casinos to revive its struggling economy. With the launch of the $1.2 billion City of Dreams integrated resort in Colombo, the government has placed tourism at the heart of its recovery plan. The target is ambitious increase tourism’s contribution to GDP from 4% in 2024 to 10% in 2025, alongside a goal of attracting three million tourists this year. But can casino-led tourism deliver the promised growth, or will it expose the country to new risks? Why Casinos Are in the Spotlight Tourism has always been a pillar of Sri Lanka’s economy, but political […] - [AB Mauri Lanka Celebrates Exceptional Safety Achievements with the Target Zero Safety Award](https://lankabiznews.com/ab-mauri-lanka-exceptional-safety-achievements/): AB Mauri Lanka is proud to announce its recognition at the prestigious AB Mauri Global Award, Target Zero Safety Awards 2023/2024 under the Safety Performance category. This award showcases AB Mauri Lanka’s dedication to maintaining exemplary health and safety standards within its operations. Through year-long initiatives, AB Mauri Lanka has demonstrated outstanding efforts and innovations, fostering a culture of safety that extends from its facilities to the broader community. At AB Mauri, the commitment to achieving zero accidents is a core value that encompasses every aspect of the business. With a strategy that includes proactive measures, continuous improvement, and a comprehensive […] - [Airport Gridlock: Why Sri Lanka Can’t Delay BIA Expansion Any Longer](https://lankabiznews.com/airport-gridlock-sl-cant-delay-bia-expansion/): Airport Gridlock | Bandaranaike International Airport (BIA) in Katunayake remains Sri Lanka’s most important international gateway, handling more than 98 per cent of the country’s air passenger traffic. For decades it has symbolised the nation’s first impression to visitors and investors alike. Yet today, as tourist arrivals rebound and air travel continues to recover, BIA is showing its age. Congested terminals, long queues, and limited gate capacity have made it increasingly clear: the airport’s long-delayed expansion is no longer optional but critical. A Gateway Under Pressure Passenger arrivals have steadily climbed back towards pre-pandemic levels. In July 2025, Sri Lanka crossed […] - [Investor Confidence Returns: How Market Sentiment Signals Sri Lanka’s Economic Revival](https://lankabiznews.com/investor-confidence-returns/): Introduction Investor Confidence Returns | Sri Lanka’s economic trajectory is once again under global focus. After years of volatility, the island nation is beginning to see renewed investor interest, driven largely by stabilisation measures, fiscal discipline, and a gradual return of market trust. Investor confidence is not just an abstract concept, it directly mirrors the broader health of the economy, shaping capital flows, job creation, and long-term growth opportunities. Stability as the Foundation of Confidence The Treasury Secretary recently underscored that stability has reignited investment momentum. This statement reflects a wider truth: investors respond first to predictability. Inflation moderation, a stable […] - [Fitch Upgrades Growth Outlook - What It Means for Sri Lanka](https://lankabiznews.com/fitch-upgrades-growth-outlook/): Fitch Ratings has revised upward its five‑year forecast for supply‑side potential GDP growth across ten leading developed economies (DM10). The GDP‑weighted average estimate now stands at 1.6 per cent annually, up from 1.4 per cent in the August 2023 outlook. Context and Scope of Fitch Upgrades The DM10 group includes the United States, Spain, the United Kingdom, Germany, Australia, Switzerland, France, Canada, Japan, and Italy. The upgrade reflects mixed but generally more optimistic performance across these economies, with significant movements in a few major economies offsetting slower growth prospects in others. Key Revisions Implications for Global Dynamics The overall lift in potential growth signals a cautious […] - [Thailand Turns to Sri Lankan Workers Amid Labour Shortage](https://lankabiznews.com/thailand-turns-to-sri-lankan-workers/): Thailand has begun a major recruitment drive for Sri Lankan workers in an effort to plug a sudden and severe labour shortage. The move follows the return of nearly 400,000 Cambodian workers who fled Thailand after deadly border clashes between the two countries. In a bid to stabilise its economy, Thailand has approved the hiring of 10,000 Sri Lankans in the first phase, with more than 30,000 Sri Lankan applicants already registering to take part in the programme. This development marks a significant shift in regional labour mobility. For Sri Lanka, it represents both a fresh opportunity to boost foreign exchange […] - [UK Opens Doors for Sri Lankan Garments: A New Era of Opportunity from 2026](https://lankabiznews.com/uk-opens-doors-for-sri-lankan-garments/): UK Opens Doors for Sri Lankan Garments | The Sri Lankan apparel sector is on the brink of a historic breakthrough. The United Kingdom has announced major reforms under its Developing Countries Trading Scheme (DCTS) that will give Sri Lankan garment exports tariff-free access with far greater flexibility than before. Beginning in early 2026, local manufacturers will be allowed to source 100 per cent of their raw materials from anywhere in the world while still qualifying for duty-free entry into the UK market.This policy shift is a game-changer for Sri Lanka’s export economy, creating a level playing field with competitors such […] - [Sri Lanka’s Growth Outlook in 2025: Optimism Meets New Challenges](https://lankabiznews.com/sri-lankas-growth-outlook-in-2025/): Growth Outlook of Sri Lanka in 2025 | Sri Lanka’s economy is entering 2025 with cautious optimism. After enduring years of instability, the country is beginning to see positive signals across several sectors. Forecasts suggest growth of around 4.5 % this year, reflecting renewed investor confidence and the stabilising impact of ongoing reforms. Yet, behind the encouraging numbers lie pressing challenges that could shape the pace and sustainability of the recovery. A Stronger Growth Outlook The Central Bank expects economic activity to expand more strongly than global institutions previously projected. The rebound is anchored by stabilised reserves, controlled inflation, and the […] - [Sri Lanka’s Vehicle Import Ban Lifted: What Buyers and Businesses Need to Know](https://lankabiznews.com/sri-lankas-vehicle-import-ban-lifted/): Vehicle Import Ban Lifted in Sri Lanka | After nearly five years of restrictions, Sri Lanka’s long-awaited resumption of vehicle imports is finally here. From February 2025, individuals and businesses have been able to bring in vehicles under a phased plan announced by the government, ending a ban that was originally introduced in 2020 to conserve foreign reserves during the country’s economic crisis. While this decision has sparked excitement among car enthusiasts, dealers, and the general public, the new policy is not a simple return to pre-ban conditions. Instead, it comes with a series of rules, limitations, and taxes aimed at […] - [Sri Lanka’s US $1.8 Billion AI Ambition: Building a Future-Ready Economy by 2030](https://lankabiznews.com/sri-lankas-us-1-8-billion-ai-ambition/): Sri Lanka is positioning itself to become a competitive player in the global artificial intelligence (AI) market, with an ambitious target of developing a US $1.8 billion AI sector by 2030. The move is part of a broader national strategy to integrate AI across key industries, boost innovation, and enhance public service delivery, while creating a thriving environment for startups and foreign investment. Launch of the National AI Fund At the heart of this initiative is the newly launched National AI Fund, backed by an initial Rs. 100 million government investment. The fund is intended to support AI research, pilot projects, […] - [Sri Lanka’s First “Water Battery”: Maha Oya Pumpd-Storage Power Station Takes Shape](https://lankabiznews.com/water-battery/): Sri Lanka’s energy sector is entering a transformative phase with the planned construction of the Maha Oya Pumped-Storage Power Station — the country’s first large-scale energy storage project. Dubbed the nation’s “Water Battery,” this 600 MW facility will play a pivotal role in achieving Sri Lanka’s target of sourcing 70% of its electricity from renewables by 2030. This landmark project is designed to store excess solar and wind energy during off-peak hours and release it during peak demand, ensuring a stable, reliable, and sustainable power supply. How Pumped-Storage Works Pumped-storage hydropower is a proven technology used worldwide to balance electricity supply […] - [Sri Lanka’s Economic Crossroads: IMF Urges Reform Continuity Amid Looming US Tariff Threat](https://lankabiznews.com/imf-warns-sri-lanka-reform-continuity-key/): Introduction Sri Lanka’s economic recovery is slowly taking shape after years of crisis, but the road ahead is far from smooth. The International Monetary Fund (IMF) has emphasised that maintaining reform momentum is critical to ensuring long-term stability. While GDP growth is inching upwards and external reserves have improved, the country faces a fresh challenge: the possibility of a 30% US tariff on key exports, particularly apparel, which contributes over US$4.8 billion annually to the economy. For a nation still finding its footing, this warning is not just an economic footnote, it’s a potential turning point. The IMF’s Message: Stay the […] - [India-US Trade Tensions: What It Means for Sri Lanka](https://lankabiznews.com/india-us-trade-tensions/): India-US Trade Tensions | Trade relations between India and the United States, two major players in the global economy, have always been significant. When friction arises between them, the ripple effects are often felt across South Asia. For Sri Lanka, a small but strategically located economy in the Indian Ocean, the India-US trade issue is more than a distant diplomatic matter, it’s a development that could impact local exports, import costs, investment patterns, and regional partnerships. Let’s break down what’s going on and why Sri Lanka should pay close attention. What’s Causing the India-US Trade Tensions? The friction between India and […] - [Starlink in Sri Lanka: A New Era of Internet Access](https://lankabiznews.com/starlink-in-sri-lanka/): Starlink In Sri Lanka | When Starlink officially launched across Sri Lanka in July 2025, it wasn’t just another internet provider entering the market—it was a game-changer. For years, internet access in Sri Lanka has remained unequal. While urban areas enjoy fibre connections and reliable mobile data, many rural and estate communities are still stuck with patchy signals or no access at all. With Starlink’s satellite-based system now live, that digital divide may finally start to narrow. Sri Lanka’s internet landscape has long been dominated by major players such as SLT-Mobitel, Dialog, Hutch, and Airtel. These providers offer a mix of […] - [USA Tariff Reduction: Impact on Sri Lanka’s Economy](https://lankabiznews.com/usa-tariff-reduction/): Introduction USA Tariff Reduction | In a major shift poised to reshape global trade, the United States has announced a reduction in tariffs on selected goods from developing countries — Sri Lanka among them. This change signals a welcome opportunity for the island nation, which has long battled trade deficits, low export diversification, and limited access to high-value markets. As Sri Lanka seeks to stabilise its post-crisis economy, the USA tariff reduction could serve as a crucial lever for recovery and sustainable growth.But what does this move actually mean in practical economic terms? Let’s unpack the implications across trade, investment, and […] - [Sustaining Sri Lanka’s Reforms: Safeguarding Macroeconomic Stability and Inclusive Growth](https://lankabiznews.com/sri-lankas-economic-stability-to-recover/): Sri Lanka is no stranger to economic turbulence. But in the past two years, the island nation has undergone a dramatic transformation—one driven by necessity, marked by discipline, and now entering its most critical phase: sustainability. With the early chaos of crisis response behind it, Sri Lanka stands at a crossroads. Will it stay the course of reform and recovery? Or will the hard-won progress of recent months begin to unravel under pressure? The International Monetary Fund has played a guiding role throughout this journey, offering a roadmap that emphasises stability, governance, and long-term growth. However, no reform programme can succeed […] - [Hatton National Bank PLC and Nucleus Software Collaborate to Enhance Transaction Banking Experience with FinnAxia®](https://lankabiznews.com/nucleus-software/): Sri Lanka- 30th July,2025: HNB PLC, one of Sri Lanka’s leading and most forward-looking financial institutions, has implemented FinnAxia®, the advanced Transaction Banking Suite from Nucleus Software, as part of a strategic initiative to strengthen its leadership in digital banking and meet the growing needs of its corporate and SME clients across Sri Lanka and around the globe. In a highly competitive market where customer expectations are evolving rapidly, HNB recognized the need for a robust, scalable and integrated platform to deliver world-class, transaction banking services. The rollout of FinnAxia® marks a decisive move to future-proof HNB’s cash management business, deepen […] - [Sri Lanka’s Tourism Rebound: Visa-Free Travel and Global Accolades Fuel Optimism for 2025](https://lankabiznews.com/sri-lankas-tourism-rebound-visa-free-travel/): Sri Lanka’s Tourism Rebound – Sri Lanka’s tourism industry, once battered by economic instability and global shocks, is showing strong signs of a strategic rebound in 2025. With visa-free access granted to 40 countries, international accolades pouring in, and targeted promotional efforts underway, the country is positioning itself as one of Asia’s most attractive post-pandemic travel destinations. Visa-Free Travel: A Game-Changing Policy In a bold move to revive tourism, the Government of Sri Lanka recently extended its visa-free travel policy to citizens from 40 countries including India, China, Russia, Japan, and Indonesia. This initiative is aimed at boosting tourist arrivals, reducing red tape, and encouraging […] - [Sri Lanka and Maldives Ties Strengthened During President Anura Kumara Dissanayake’s Visit](https://lankabiznews.com/sri-lanka-and-maldives-ties-to-improve-with-visit/): Sri Lanka and Maldives ties are taking a confident leap into the future of regional diplomacy. With Sri Lankan President Anura Kumara Dissanayake making an official visit to the Maldives, the spotlight is on renewed bilateral relations built on trust, strategic alignment, and mutual development. For two small yet strategically located nations in the Indian Ocean, this meeting represents more than ceremonial engagement—it is a recalibration of priorities and partnership. President Dissanayake’s visit comes at a pivotal time. Both countries are navigating post-pandemic recovery, facing global economic shifts, and striving for long-term resilience. As leaders of nations historically shaped by their […] - [Electric Vehicles: Powering Forward as the Future of Transport in Sri Lanka](https://lankabiznews.com/electric-vehicles-powering-forward-as-the-future/): Electric vehicles are no longer a novelty. What was once considered a niche or futuristic technology has rapidly become a key player in the global mobility revolution. Countries around the world are shifting gears towards cleaner, smarter, and more efficient transportation solutions. Sri Lanka, with its unique challenges and opportunities, stands at the crossroads of this electric future. So where are we headed with EVs in Sri Lanka? Will they become the norm or remain the exception? And what must we do to make electric mobility a viable and sustainable reality? Let’s break it down. Why Electric Vehicles Matter Sri Lanka […] - [Sri Lanka Regulation of Crypto Providers Accelerates Ahead of Global AML Review 2025](https://lankabiznews.com/sri-lanka-regulation-of-crypto/): Published: 24 July 2025 Sri Lanka’s financial authorities have taken a decisive step towards regulating cryptocurrency activity within the country. Central Bank Governor Dr Nandalal Weerasinghe recently announced that Sri Lanka is preparing to register cryptocurrency service providers as part of its drive to reinforce anti‑money‑laundering (AML) protocols and align with forthcoming global evaluations. Why Sri Lanka Is Regulating Crypto Providers Now The pace is rising on digital asset oversight. Sri Lanka’s move centres on: What “Registration” Means for Crypto Operators Dr Weerasinghe emphasised that the plan entails more than a licensing formality: Sri Lanka’s Strategic Position in a Global Context Sri […] - [Why Young Sri Lankans Are Disengaging from Politics - 9](https://lankabiznews.com/why-young-sri-lankans/): A generation caught between disillusionment and survival In 2022, young Sri Lankans were at the forefront of a historic civic uprising. The “Aragalaya” protests shook the foundations of power and sent a clear message: the youth were watching, and they wanted change. Fast-forward to 2025, and the energy seems to have dissipated. Voter turnout among young people is declining. Political discussions are more cynical than hopeful. Most disturbingly, many simply don’t care anymore. So what changed? Why has a generation once hailed as the torchbearers of democratic reform now chosen disengagement? 1. A Legacy of Betrayal The disillusionment isn’t new. Young […] - [Unveiling the Clothespin Towers: A $540 Million Masterpiece Transforming Colombo Port City](https://lankabiznews.com/unveiling-the-clothespin-towers/): A New Chapter for Colombo Colombo, Sri Lanka’s bustling commercial capital, is preparing for an architectural and cultural transformation with the upcoming Clothespin Towers—a $540 million mega-development announced for Port City Colombo, the country’s flagship Special Economic Zone (SEZ). The project promises not only visual spectacle and luxury accommodation but also aims to become a global landmark by incorporating the world’s largest vertical art gallery, Sri Lanka’s first-ever seven-star hotel, and a symbolic Grand Clock. Led by Clothespin Management and Development (Private) Limited, this visionary project seeks to position Colombo among the elite cities of the world. But behind the ambitious […] - [Sri Lanka’s Government Revenue Collection Surges in 2025: A Turning Point for Fiscal Stability](https://lankabiznews.com/sri-lankas-government/): Sri Lanka’s public finance outlook is showing promising signs of recovery in 2025, with the government’s revenue collection accelerating steadily during the first five months of the year. According to the Central Bank of Sri Lanka (CBSL), total revenue and grants reached Rs. 1,942 billion from January to May 2025, marking a significant 20% year-on-year increase compared to Rs. 1,619 billion collected during the same period in 2024. This notable growth in revenue is the result of deliberate fiscal reforms, increased tax compliance, and digitalisation efforts that are beginning to pay dividends. As the government continues its path toward fiscal consolidation, […] - [Sri Lanka’s Solar Revolution: Powering Growth, Security & Sustainability 2025](https://lankabiznews.com/sri-lankas-solar-revolution-2/): As Sri Lanka takes a bold step forward in its renewable energy journey, the country’s deepening commitment to solar energy is fast becoming a beacon of hope for a greener, more resilient economy. With the recent International Solar Alliance (ISA) summit held in Colombo, Sri Lanka reaffirmed its strategic push toward solar — a sector that promises to reshape energy, economics, and the environment. Why Solar Energy Matters for Sri Lanka Sri Lanka currently imports over 40% of its energy in the form of fossil fuels, leaving it vulnerable to global market shocks. The shift to solar addresses not only this […] - [Sri Lanka’s Solar Revolution: Powering Growth, Security & Sustainability](https://lankabiznews.com/sri-lankas-solar-revolution/): As Sri Lanka takes a bold step forward in its renewable energy journey, the country’s deepening commitment to solar energy is fast becoming a beacon of hope for a greener, more resilient economy. With the recent International Solar Alliance (ISA) summit held in Colombo, Sri Lanka reaffirmed its strategic push toward solar — a sector that promises to reshape energy, economics, and the environment. Why Solar Energy Matters for Sri Lanka Sri Lanka currently imports over 40% of its energy in the form of fossil fuels, leaving it vulnerable to global market shocks. The shift to solar addresses not only this […] - [New Talks Planned by Sri Lankan Government on US Tariffs 2025: A Fresh Push for Trade Relief](https://lankabiznews.com/newtalks-sri-lankan-government-on-us-tariffs-2025/): At stake is the competitiveness of Sri Lankan goods in the vital American market. With apparel, rubber, spices, and other sectors already under pressure from shifting global demand and rising costs, securing even partial tariff relief could deliver a much-needed boost. Sri Lanka’s Reliance on US Markets The United States has long been one of Sri Lanka’s most important export destinations. According to the Export Development Board (EDB), the US consistently accounts for over 25% of Sri Lanka’s total export earnings. Apparel alone makes up more than half of those exports, supporting tens of thousands of jobs across the country. Yet […] - [IRD Tightens Quarterly Tax Rules for Sri Lankan Banks: Audited Returns Now Mandatory 2025](https://lankabiznews.com/ird-tightens-quarterly-tax-rules-for-sri-lankan/): The Inland Revenue Department (IRD) of Sri Lanka has announced a significant tightening of quarterly tax reporting rules for banks and financial institutions, a move expected to reshape compliance practices and improve government revenue collection. Starting from the second quarter of the 2024/25 assessment year, licensed commercial banks, specialised banks, and finance companies must file detailed, audited quarterly income tax computations, complete with supporting schedules certified by an external auditor. This marks a major shift away from the previous system, where quarterly tax payments were generally based on unaudited management accounts, with final adjustments made at year-end. “This directive reflects our […] - [Digital Isolation or Digital Transformation? Sri Lanka’s New VAT Policy Risks Derailing ICT Growth 2025](https://lankabiznews.com/digital-isolation-sri-lanka/): Sri Lanka’s ICT industry – often hailed as a beacon of modernisation, export growth, and skilled employment – is warning of a major setback in the wake of the government’s plan to impose a new 18% VAT on IT and software services. Industry leaders argue this tax threatens not only their competitiveness but the country’s broader economic vision to be a digital hub. At the heart of their warning is a concern that Sri Lanka risks slipping into digital isolation just when regional rivals are accelerating their own investments in technology, AI, and digital exports. This post dives deep into the […] - [Navigating the Challenges: The Impact of Trump’s Tariff on Sri Lanka and the Urgent Path to Negotiations in 2025](https://lankabiznews.com/navigating-the-challenges-sri-lanka/): Sri Lanka’s economy is at a critical juncture in 2025 as the United States, under President Donald Trump, imposes a 30% tariff on all Sri Lankan imports, effective August 1. While this represents a reduction from an initially proposed 44% tariff—secured through recent diplomatic efforts—it still poses serious challenges for Sri Lanka’s export-driven economy. This article explores the impact of Trump’s tariff on Sri Lanka, the outcomes of recent negotiations, and the strategies needed to secure better trade terms with the U.S., the island nation’s single largest export market. The Economic Impact of the 30% Tariff The U.S. remains Sri Lanka’s […] - [Sri Lanka’s Rubber Industry at a Crossroads: Can Exports Bounce Back?](https://lankabiznews.com/rubber-industry/): Sri Lanka’s rubber industry, a cornerstone of the nation’s economy for over 160 years, is facing a critical moment. Once a global leader in natural rubber production, the sector now teeters on the edge of irrelevance due to declining output, climate challenges, and shifting trade dynamics. At the 106th Annual General Meeting of the Colombo Rubber Traders’ Association (CRTA), Chairman Harin de Silva delivered a stark warning: without urgent, collective action, the industry risks fading into obscurity. This blog post explores the challenges threatening Sri Lanka’s rubber exports, the opportunities to revitalize the sector, and the steps needed to secure its […] - [Overhauling Sri Lanka’s E-Commerce Rules: Local Industries Call for Urgent Reform](https://lankabiznews.com/e-commerce-sri-lanka/): Introduction: The Case for Reform Sri Lanka’s local industries are demanding an urgent overhaul of the country’s e-commerce regulatory framework. Business leaders argue the current system is outdated, fragmented, and largely unenforced. As a result, both consumers and legitimate sellers are left vulnerable to fraud, poor quality products, and unfair competition. With online shopping now mainstream, industry stakeholders insist the time has come for a clear, enforceable, and modern e-commerce framework that supports local businesses while protecting consumers. Why the Urgency? E-Commerce’s Rapid Rise Meets Weak Rules E-commerce in Sri Lanka has exploded in popularity, particularly following the COVID-19 pandemic. Today, […] - [US Tariff War 2025: What It Means for Sri Lanka’s Economy and Businesses](https://lankabiznews.com/us-tariff-war-2025/): Trade wars between global giants are not new, but each new round carries fresh risks and opportunities. In 2025, tensions between the United States and its major trading partners are once again heating up, with talk of new tariffs on Chinese electronics, European green-tech subsidies, and retaliatory measures flying back and forth. It might seem distant – something for Washington, Beijing, and Brussels to worry about. But for Sri Lanka, a country trying to stabilise its economy and rebuild after crises, these global shifts are anything but abstract. The consequences will be felt in our factories, ports, supermarkets, and households. This […] - [Sri Lanka’s E-Commerce Tax Crisis 2025: Navigating the Chaos and Looking Ahead](https://lankabiznews.com/sri-lankas-e-commerce-tax-crisis/): Published: July 4, 2025 | Author: Lanka Biz News Team As the sun rises over Sri Lanka on this Friday morning, July 4, 2025, at 05:47 AM +0530, a growing concern is casting a shadow over the nation’s booming e-commerce sector. The recent surge in online shopping from global platforms like AliExpress and Temu has exposed a critical flaw in Sri Lanka’s customs and tax framework, leading to delays, frustration, and an urgent call for reform. This article delves into the unfolding e-commerce tax crisis, its root causes, global benchmarks, and the path forward for Sri Lanka’s economy. The Spark: A […] - [Starlink in Sri Lanka 2025: How Satellite Internet Will Transform Connectivity, Education and Rural Development](https://lankabiznews.com/starlink-in-sri-lanka-2025/): Starlink in Sri Lanka is officially live. Elon Musk’s SpaceX-powered satellite internet service has been approved by the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) and began rolling out to users this July. For a country with strong but uneven mobile and fibre coverage, Starlink promises a game-changing solution to bridge the digital divide in Sri Lanka. But what exactly will it bring? How does it fit alongside existing Sri Lankan internet services? Here’s a deep dive into what Starlink means for Sri Lanka’s connectivity landscape, its impact on education, healthcare, small businesses, and the broader economy. What is Starlink and […] - [Sri Lanka’s IMF Review and Growth Outlook: Can Stability Withstand New Vulnerabilities?](https://lankabiznews.com/sri-lankas-imf-review-and-growth-outlook/): Sri Lanka’s economy is forecast to grow 3.5–3.9% in 2025 after the latest IMF disbursement. But new global headwinds, export tariff risks, and structural reforms raise questions about the durability of recovery. Introduction Sri Lanka has cleared its fourth IMF programme review, unlocking another tranche of ~US $350 million. The government is hailing this as a crucial step towards macroeconomic stability after its historic 2022 default. But does this approval truly signal a turning point? While GDP growth is projected at 3.5–3.9% in 2025, structural weaknesses, poverty rates near 24.5%, and new export tariff challenges expose the economy to fresh risks. As the […] - [Big Gaps in Understanding Taxpayer Rights and Obligations: ICC Sri Lanka Survey Reveals Urgent Need for Reform (Tax)](https://lankabiznews.com/big-gaps-in-understanding-taxpayer-tax/): In a landmark initiative to make Sri Lanka’s tax system more citizen-focused, the International Chamber of Commerce Sri Lanka (ICCSL) has released the country’s first national survey on taxpayer awareness, shedding new light on a significant knowledge gap that threatens both public trust and effective revenue collection. The findings are clear: while many Sri Lankans know about the Taxpayer Charter, far fewer understand what it really means for their rights and obligations in daily life. ICCSL Survey: A First-of-Its-Kind Effort to Measure Tax Awareness The survey was commissioned by the ICCSL Committee on Research, Knowledge Mobilisation and Taxation. It was led […] - [Sri Lanka’s Renewable Energy Sector at Crossroads: Tariff Cuts and the Urgent Need for Presidential Intervention](https://lankabiznews.com/renewable-energy/): Sri Lanka’s renewable energy industry is sounding the alarm. In a dramatic turn, the Federation of Renewable Energy Developers (FRED), along with the National Chamber of Commerce’s Renewable Energy Council, has called for urgent intervention from President Anura Kumara Dissanayake to reverse recently announced feed-in tariff (FiT) cuts. They warn these policy changes could derail the nation’s ambitious green energy targets for 2030. 30% Tariff Cuts Rock the Industry On June 16, the Cabinet approved a sweeping 30% reduction in feed-in tariffs for solar and other renewable projects. Renewable developers see this as a unilateral move that undermines investor confidence. According […] - [Sri Lanka’s FinTech Momentum in 2025: Can the Country Deliver on its $100 Million Investment Goal?](https://lankabiznews.com/sri-lankas-fintech-momentum-in-2025/): Sri Lanka is gearing up for what could be its most ambitious push yet into the digital economy. The country’s first-ever dedicated FinTech Summit, scheduled for September 2025, is aiming to secure US $100 million in investment commitments. It’s an eye-catching target for a nation navigating an economic turnaround, but is it realistic—and what does it mean for the wider business community? This post explores Sri Lanka’s 2025 FinTech momentum, why the summit matters, and what challenges and opportunities lie ahead for local entrepreneurs, investors, and the broader economy. Why FinTech—and Why Now? Sri Lanka’s government has clearly identified financial technology as a cornerstone […] - [Why Sustainability is No Longer Optional for Sri Lankan Businesses](https://lankabiznews.com/sri-lankan-businesses/): In today’s fast-evolving global economy, sustainability isn’t just a buzzword—it’s a business imperative. As climate change, economic instability, and resource scarcity continue to affect countries like Sri Lanka, the need for sustainable business practices has reached a tipping point. For Sri Lankan entrepreneurs, startups, and corporate leaders alike, embedding sustainability into core business strategies is no longer a nice-to-have—it’s essential for survival, growth, and global relevance.(Sri Lankan Businesses) Let’s explore the human and economic side of this shift, the challenges businesses face, and how sustainability can actually unlock long-term value for Sri Lankan enterprises. What Does Sustainability Mean for a Sri […] - [A Wake-Up Call from One of the World’s Most Powerful CEOs](https://lankabiznews.com/one-of-the-worlds-most-powerful-ceos/): Amazon CEO Andy Jassy has made headlines with a bold and sobering message: artificial intelligence is going to significantly impact white-collar jobs(Powerful CEOs). Speaking in a recent internal meeting, Jassy acknowledged that roles traditionally considered ‘safe’ from automation—such as marketing, legal, finance, and even coding—are now on the frontlines of disruption. This is not just a Silicon Valley issue. For a country like Sri Lanka, where the service sector dominates GDP and a growing number of young people enter white-collar professions, this is a wake-up call. As AI tools become more accessible and powerful, businesses and professionals alike must rethink their […] - [Ripple Effects: How the Middle East Conflict Can Impact Small Nations Like Sri Lanka](https://lankabiznews.com/ripple-effects-small-nations-like-sri-lanka/): While the Middle East may seem distant from Sri Lanka on the map, the realities of our interconnected world mean that turmoil in that region can quickly create ripple effects for smaller nations like ours. As a country still finding its footing after years of economic and political instability, Sri Lanka cannot afford to ignore what’s unfolding in the Gulf and beyond. The recent escalation of conflict involving key players such as Iran, Israel, Yemen, and Saudi Arabia has the potential to shake global oil markets, disrupt shipping routes, and destabilize labor markets—all of which carry direct consequences for us. Fuel […] - [How Sri Lanka Can Attract More Foreign Direct Investment (FDI) in 2025 and Beyond](https://lankabiznews.com/foreign-direct-investment-in-sri-lanka/): Foreign Direct Investment (FDI) is more than just capital inflow—it’s a sign of confidence. When a foreign investor chooses to back a country, they’re placing their trust in its people, policies, and potential. For Sri Lanka, attracting FDI is no longer a luxury. It’s an essential pillar for economic revival, job creation, and long-term stability. Coming out of one of the most difficult economic periods in recent history, Sri Lanka has already taken important steps to recover—such as securing an IMF bailout and tightening monetary policy. But if we truly want to be seen as a reliable destination for international investors, […] - [Should We Protect or Transform? Rethinking Sri Lanka’s Industrial Future](https://lankabiznews.com/rethinking-sri-lankas-industrial-future/): A Familiar Call: Protect Local, Buy Local Earlier this month, Sri Lanka’s Science and Technology Minister made headlines calling for the protection and revival of local industries. The message was clear—our local businesses need safeguarding from foreign competition. Tariffs, subsidies, and government support are on the table. It’s not a new idea, but it arrives at a moment when the country is at an economic crossroads.(Industrial Future) The question is: will protectionism truly revive Sri Lanka’s industries—or will it leave us stuck in the past? In a rapidly digitizing world, should we not be talking more about upskilling, innovation, and future-readiness? […] - [Why Sri Lanka’s Outdated Procurement Systems Must Evolve — And How to Make It Happen](https://lankabiznews.com/sri-lankas-outdated-procurement-systems/): By Lanka Biz News A Broken System in Urgent Need of Fixing Sri Lanka’s economy is slowly finding its feet again, but much of the machinery that supports our public institutions is still stuck in the past. Nowhere is this more evident than in our procurement systems—those unseen but powerful processes that determine how governments buy goods and services, including everything from highways to software. According to Dr. Hans Wijayasuriya, a key figure in Sri Lanka’s digital transformation efforts, the outdated procurement structures are more than a nuisance—they’re a fundamental bottleneck to our economic and digital progress. Speaking at a recent […] - [Can Sri Lanka Really Achieve Economic Sovereignty by 2028?](https://lankabiznews.com/really-achieve-economic-sovereignty-by-2028/): In a nation still nursing the wounds of its worst economic collapse, the idea of achieving “economic sovereignty” by 2028 sounds — at first — like a political fantasy. Yet that’s exactly the promise on the table. President Anura Kumara Dissanayake has boldly declared that Sri Lanka will no longer need IMF bailouts or external lifelines by the end of his first term. It’s an audacious target. But is it possible? And more importantly — are we building the foundation, or just painting the walls? The Problem with Economic Buzzwords Let’s be clear: “economic sovereignty” is a catchy term. It taps […] - [What Gita Gopinath’s Visit Really Means for Sri Lanka](https://lankabiznews.com/gita-gopinath-visit-for-sri-lanka/): In mid-June 2025, Gita Gopinath — First Deputy Managing Director of the International Monetary Fund (IMF) — arrived in Sri Lanka for a two-day visit. For a country that has spent the last two years navigating a difficult but crucial IMF reform program, her presence wasn’t just symbolic — it was strategic. Her visit marks a moment of both reflection and projection for Sri Lanka’s economic future. Why Now? Sri Lanka is halfway through its four-year Extended Fund Facility (EFF) agreement with the IMF, a deal that was essential after the country defaulted on its sovereign debt in 2022. Since then, […] - [Boeing’s Downfall: From Engineering Icon to Safety Scandal](https://lankabiznews.com/boeings-downfall/): How the Air India Dreamliner Crash Exposes Deeper Systemic Failure Introduction For much of the 20th century, Boeing was a name synonymous with precision engineering, innovation, and aviation safety. From the iconic 747 “Jumbo Jet” to the revolutionary Dreamliner, Boeing didn’t just make planes—it set the gold standard for commercial aviation. But in recent years, the cracks have begun to show. And now, in 2025, they’ve ruptured.(Boeing’s Downfall) The recent crash of Air India Flight AI171, a Boeing 787-8 Dreamliner, has sent shockwaves across the global aviation industry. The aircraft plummeted shortly after takeoff, killing 241 people and injuring dozens more […] - [Beyond Borders: What a China–Sri Lanka Free Trade Agreement Could Mean for Local Business](https://lankabiznews.com/china-sri-lanka-free-trade-agreement/): Sri Lanka is at a turning point. After years of economic crisis and structural reforms, the spotlight has now turned to international trade—and one of the most talked-about developments is the proposed Free Trade Agreement (FTA) between Sri Lanka and China (China–Sri Lanka Free Trade Agreement). If signed, this deal could be a game-changer for local industries, exporters, and the overall economic trajectory of the island nation. But what does this FTA actually mean for Sri Lanka? Who benefits? Who’s at risk? And how should local businesses prepare? In this article, we unpack the potential impact of the China–Sri Lanka FTA […] - [Sri Lanka’s Stock Market in 2025: Opportunity Amid Uncertainty](https://lankabiznews.com/sri-lankas-stock-market-in-2025/): The Colombo Stock Exchange (CSE) has entered 2025 with cautious optimism. After a challenging few years, the market is showing signs of resurgence, bolstered by economic recovery, improved investor sentiment, and emerging sectoral opportunities(Stock Market). Yet, lingering threats—from macroeconomic instability to global trade tensions—remain very real. Market Snapshot As of mid-June 2025, the All Share Price Index (ASPI) hovers above 17,300 points. This reflects a solid recovery from the lows of the economic crisis, with year-on-year growth surpassing 30%. Investor activity has notably increased across sectors like consumer staples, industrials, and telecommunications—driven by both earnings potential and strategic acquisitions. Economic Tailwinds […] - [India’s Solar Surge: What Sri Lanka Can Learn from Its Clean Energy Transition](https://lankabiznews.com/indias-solar-surge-its-clean-energy-transition/): As the global conversation shifts towards sustainability and climate resilience, India has emerged as a regional leader in renewable energy — with solar power at the heart of its transformation (Indias Solar Surge). With massive government-backed projects, international investments, and grassroots rooftop solar initiatives, India’s clean energy journey is not just a national success story; it offers a powerful blueprint for countries like Sri Lanka that are navigating their own energy transitions. This article explores India’s clean energy drive, its rapid solar expansion, and how Sri Lanka can strategically align itself to benefit from this regional momentum toward sustainability. India’s Clean […] - [Powering the Nation: The State and Future of Sri Lanka’s Power Sector](https://lankabiznews.com/powering-the-nation-future-of-sri-lankas/): The power sector in Sri Lanka plays a critical role in the nation’s economic growth, industrial development, and quality of life. As the country aims to recover from economic instability and drive forward its development goals, a stable and sustainable energy sector is more vital than ever (Powering the Nation). From reliance on hydropower and fossil fuels to the gradual shift toward renewables, the power landscape in Sri Lanka is evolving. This article explores the current state of the sector, its challenges, and the opportunities that lie ahead. Overview of the Power Sector in Sri Lanka Sri Lanka’s electricity supply is […] - [Sri Lanka’s Export Potential: A New Era of Growth](https://lankabiznews.com/sri-lankas-export-potential-a-new-era-of-growth/): Sri Lanka stands at a crucial economic crossroads. As the nation gradually recovers from its recent financial crisis, one sector emerges as a beacon of hope — exports(Export Potential). From tea to technology, apparel to agri-products, the island’s export sector holds immense potential to reboot the economy, generate foreign exchange, and create sustainable livelihoods. In this blog, we dive into the key drivers, untapped opportunities, and actionable strategies that can unlock Sri Lanka’s export potential and position the country as a competitive global player. Why Export Growth Matters Now More Than Ever The importance of boosting exports in 2025 cannot be […] - [Crisis in the Cup: Over 225 Small Tea Factories Close Across Sri Lanka](https://lankabiznews.com/225-small-tea-factories-close-across-sri-lanka/): By Lanka Biz News Editorial Desk The lush green hills of Sri Lanka, once echoing with the hum of tea processing and the rhythm of pluckers moving through rows of bushes, have fallen quiet in many regions. Over 225 small tea factories have closed down as of mid-2025, marking one of the darkest chapters for the country’s famed tea industry. This isn’t just about economics. It’s about a way of life. 🚨 The Shutdown: What Happened to the Small Tea Factories?These factory closures aren’t just statistics—they represent real livelihoods, disrupted. According to officials at the Tea Small Holdings Development Authority (TSHDA), […] - [Sri Lanka’s Online Safety Act Amendments: What It Means for Web3, Crypto, and Digital Expression](https://lankabiznews.com/sri-lankas-online-safety-act-amendments/): A New Era for Online Speech in Sri Lanka? As Sri Lanka forges ahead in strengthening its digital governance framework, a key focus has emerged: tightening controls on online content through amendments to the Online Safety Act, No. 9 of 2024(Online Safety). The proposed amendments, while framed as protective measures, have sparked concern among advocates of Web3 innovation, crypto education, and digital free speech. With the global spotlight on blockchain technology and cryptocurrencies, Sri Lanka stands at a crucial crossroads. Can it embrace the innovation Web3 offers while still maintaining responsible digital regulation? Or are we treading dangerously close to censorship […] - [SpaceX's Starship and the Business of Mars Colonization: A Game-Changer for Global Markets](https://lankabiznews.com/spacexs-starship-and-the-business-of-mars/): In a recent post on X, Elon Musk, the visionary behind SpaceX, reiterated the company’s ambitious goal: Starship can reach Mars in approximately 6 months every 26 months when the planets align (SpaceX’s Starship). This statement, referencing a comparative analysis by @Rainmaker1973  on the impracticality of commercial airplanes for interplanetary travel, underscores the transformative potential of SpaceX’s technology. For business leaders, investors, and policymakers, this development is not just about space exploration; it’s a pivotal moment for the global economy, investment opportunities, and the future of innovation. The Technological Leap: Starship’s Role in Mars Colonization SpaceX’s Starship, a fully reusable spacecraft […] - [Analyzing the Central Bank of Sri Lanka’s Rate Cut – A Double-Edged Sword?](https://lankabiznews.com/sri-lankas-rate-cut-a-double-edged-sword/): The Central Bank of Sri Lanka (CBSL) made headlines on May 21, 2025, with its decision to cut the policy rate by 25 basis points, bringing it to 7.75% (Double-Edged Sword). This move, the first rate cut in six months, has sparked a heated debate among economists, policymakers, and industry stakeholders. While the CBSL aims to stimulate economic growth and support Sri Lanka’s ongoing recovery, Bloomberg economist Ankur Shukla has raised concerns about the potential risks of this decision, labeling it as “undue.” In this analysis, we dive deep into the implications of the rate cut, its potential to overheat the […] - [NEXT Exit from Katunayake: What It Means for Sri Lanka’s Apparel Industry](https://lankabiznews.com/what-it-means-for-sri-lankas-apparel-industry/): The recent closure of NEXT Manufacturing’s production plant at the Katunayake Export Processing Zone (EPZ) has sent ripples through Sri Lanka’s apparel sector. As over 1,400 workers lose their jobs, the broader implications of this move stretch beyond a single facility shutdown—it signals deep-rooted vulnerabilities within one of Sri Lanka’s most vital export industries. In this article, we explore what the NEXT exit means for the Sri Lankan apparel industry, how it ties into the current economic climate, and what the road ahead might look like for garment exporters navigating a shifting global landscape. A Legacy Shuts Down: What Happened? NEXT […] - [Fueling the Future: How Indian Investment in Trincomalee's Oil Hub Can Power Sri Lanka's Development](https://lankabiznews.com/fueling-the-future-indian-investment-in-srilanka/): A New Chapter in Trincomalee’s Legacy Tucked along the northeastern coast of Sri Lanka, Trincomalee has long been a site of historical and strategic importance. Known for its deep natural harbor—one of the finest in the world—Trinco has always held immense untapped potential(Fueling the Future). Today, thanks to a renewed partnership between India and Sri Lanka, Trincomalee is being reimagined as a regional energy hub, starting with the revitalization of its iconic oil tank farm. This is not just about infrastructure. It’s about creating jobs, reviving a dormant economy, and placing Sri Lanka in the middle of South Asia’s evolving energy […] - [Why Standardising Ceylon Tea is Crucial for Sri Lanka’s Economic Future](https://lankabiznews.com/standardising-ceylon-tea-is-crucial-for-sri-lankas/): Ceylon Tea is one of Sri Lanka’s most iconic global products. For over 150 years, it has been synonymous with quality, flavour, and tradition. However, in recent years, the international perception of Ceylon Tea has faced challenges due to inconsistent quality, lack of enforcement on branding, and the misuse of the term “Ceylon” by overseas entities. In today’s competitive global market (Standardising Ceylon Tea), standardising Ceylon Tea is not just about protecting a brand—it’s about securing Sri Lanka’s economic future. The Global Value of Ceylon Tea Tea is Sri Lanka’s second-largest agricultural export, bringing in over USD 1.2 billion annually. More […] - [Why Sri Lanka’s Logistics Sector Is the Country’s Next Big Bet](https://lankabiznews.com/logistics-sector/): In the race to rebuild and rise, Sri Lanka’s logistics and supply chain industry is shaping up to be one of the most promising sectors of 2025(Logistics Sector). For a country that’s still navigating recovery, this quiet revolution in trucks, ships, ports, and warehouses might just be the missing piece in its long-term growth story. And the signs are everywhere. From mega port expansions to bustling courier services handling the e-commerce boom, Sri Lanka is steadily transforming itself into a smart logistics hub in South Asia. Geography Still Matters—And Sri Lanka’s Got It Let’s face it—no amount of tech or policy […] - [Sri Lanka’s Unexpected Cash Comeback: What It Means for Business in 2024 and Beyond](https://lankabiznews.com/cash-comeback/): In an era where QR codes, tap-to-pay, and digital wallets dominate global commerce, Sri Lanka has seen a surprising twist. The Central Bank recently confirmed a striking 14.5% year-on-year increase in physical cash circulation, pushing the total to Rs. 1.36 trillion in 2024. That’s a jump from Rs. 1.19 trillion in 2023, and it’s the highest we’ve seen since the pandemic began. For anyone watching the business climate closely, this isn’t just a statistical anomaly. It’s a window into how Sri Lankans are interacting with money, trust, and the formal economy at large. And for business owners, banks, and policymakers, it’s […] - [Powering the Future: How Solar Energy is Lighting Up Sri Lanka’s Green Transition](https://lankabiznews.com/how-solar-energy-is-lighting-up-sri-lankas-green/): Sri Lanka is on the brink of an energy transformation, with solar power emerging as a key pillar in its shift toward sustainability. Blessed with year-round sunshine and a growing urgency to move away from fossil fuels, the island nation is now taking bold steps to harness the sun’s power (Solar Energy). As businesses and communities look for cleaner, more cost-effective energy sources, solar power is no longer just an alternative—it’s becoming essential. The Solar Advantage in Sri Lanka Sri Lanka is uniquely positioned to lead the solar revolution in South Asia. Located near the equator, it enjoys high solar insolation […] - [Why Sustainability Is No Longer Optional for Sri Lankan Businesses in 2025](https://lankabiznews.com/why-sustainability-is-no-longer-optional-for-sri-lankan/): Sustainability in Sri Lanka, green business practices, ESG Sri Lanka, corporate sustainability, eco-friendly businesses, sustainable development goals, Sri Lankan economy, sustainable brands Sri Lanka, environmental responsibility, sustainable business models In 2025, sustainability is not just a buzzword—it’s a business imperative. For Sri Lankan companies, embracing sustainability is no longer about meeting international expectations or ticking ESG (Environmental, Social, and Governance) checkboxes. It’s about survival, relevance, and long-term profitability in a changing economic, environmental, and consumer landscape. Let’s explore why sustainability matters more than ever, and how Sri Lankan businesses—from SMEs to conglomerates—can integrate sustainable practices into their growth strategy. The Sri […] - [Sri Lanka’s Economic Outlook 2025: Navigating Recovery Amid Global Headwinds](https://lankabiznews.com/sri-lankas-economic-outlook-2025/): By Lanka Biz News Editorial Team As Sri Lanka steps into the second quarter of 2025, the nation finds itself at a pivotal juncture—balancing a fragile economic recovery with persistent global and domestic challenges(Economic Outlook). Following a 5% GDP growth in 2024, driven by a rebound in construction and tourism sectors, the World Bank projects a moderated growth rate of 3.5% for 2025. This deceleration, while expected, calls for proactive measures to ensure long-term economic growth and macroeconomic stability in Sri Lanka. Export Sector: A Beacon of Resilience Despite external pressures, Sri Lanka’s export sector has demonstrated commendable resilience. In January […] - [The Road Ahead for Sri Lanka’s Apparel Industry Without GSP+: Rethinking Competitiveness and Resilience](https://lankabiznews.com/the-road-ahead-for-sri-lankas-apparel-industry/): Sri Lanka’s apparel industry has long been a pillar of the national economy, contributing significantly to export earnings, employment, and industrial development. With over $5 billion in annual export revenue, the industry has built a reputation for ethical manufacturing, skilled labor, and niche market strengths. Yet, as uncertainty looms over the continuation of the EU’s GSP+ (Generalised Scheme of Preferences Plus) concession, stakeholders are increasingly focused on what lies ahead—and how the sector can adapt, survive, and thrive in a post-GSP+ environment. Why GSP+ Matters GSP+ offers Sri Lanka preferential access to European markets, granting duty-free access to over 6,000 product […] - [The Strategic Importance of Sustainable Energy: Why Solar Power is Crucial for Sri Lanka’s Future](https://lankabiznews.com/the-strategic-importance-of-sustainable-energy/): As Sri Lanka navigates economic recovery and long-term growth, energy security has become a top national priority. With rising fuel costs, currency fluctuations, and global shifts toward cleaner energy, Sri Lanka must reduce its dependence on imported fossil fuels (Sustainable Energy). One of the most viable, cost-effective, and environmentally responsible solutions is solar energy. Solar power is more than just an environmental option—it’s an economic imperative. For Sri Lanka, a country blessed with abundant sunshine throughout the year, transitioning to sustainable energy sources like solar could transform the energy landscape, boost investor confidence, and contribute to long-term financial stability. The Current […] - [Colombo Port’s Q1 Slowdown: A Wake-up Call for Sri Lanka’s Maritime Ambitions](https://lankabiznews.com/colombo-port-q1-slowdown-sri-lankas/): The Port of Colombo, once hailed as South Asia’s premier transshipment hub, has reported a worrying 6.3% decline in transshipment volumes in the first quarter of 2025, handling only 1.53 million TEUs (twenty-foot equivalent units). As regional competition intensifies, this downturn highlights both the operational bottlenecks and strategic missteps that Sri Lanka must urgently address if it is to maintain its global shipping relevance. In a world increasingly dependent on seamless supply chains, Colombo’s slip is not just a local issue — it could impact Sri Lanka’s broader economic recovery and investment potential. What’s Behind the Dip?A closer look reveals a […] - [Sri Lanka Set to Receive Next IMF Tranche: What It Means for Our Recovery](https://lankabiznews.com/sri-lanka-set-to-receive-next-imf-tranche/): A Crucial Milestone in Sri Lanka’s Recovery Story Sri Lanka is once again preparing for an important milestone — the release of the next tranche of funding from the International Monetary Fund (IMF).Since securing the $3 billion Extended Fund Facility (EFF) deal in 2023, each tranche of IMF funding has been vital for keeping our economic recovery on track. The upcoming disbursement is more than just another financial inflow. It’s a stamp of approval that tells the world Sri Lanka is moving in the right direction — tackling debt, managing our finances, and building back stability after one of the toughest […] - [India–Sri Lanka Business Cooperation: A New Chapter of Strategic Growth](https://lankabiznews.com/india-sri-lanka-business-strategic-growth/): As Sri Lanka enters a new phase of economic recovery and strategic development in 2025, its strengthening bilateral relationship with India is making headlines. With both historical ties and future-oriented goals at the forefront, India–Sri Lanka business cooperation is emerging as a defining factor in the island’s resurgence(Strategic Growth). From energy to defense, and from digital finance to regional trade, the cooperation between these South Asian neighbors is shaping Sri Lanka’s business landscape. Let’s explore how this partnership is unlocking new opportunities for growth and investment. 🔋 Trincomalee: A Strategic Energy Hub in the Making One of the most significant developments […] - [Sri Lanka's Financial Sector and Digital Transactions: A Festive Season Snapshot​](https://lankabiznews.com/sri-lankas-financial-sector-and-digital-transactions/): As Sri Lanka celebrated the festive season at the close of 2024, the nation’s financial sector and digital transactions landscape showcased notable developments. This period marked a significant stride towards economic resilience and digital transformation, reflecting both challenges overcome and opportunities embraced.​ Financial Sector: Stability Amidst Recovery In 2024, Sri Lanka’s financial sector demonstrated signs of stabilization following previous economic challenges. The banking sector maintained capital and liquidity buffers above regulatory thresholds, ensuring compliance with prudential requirements. Total assets of the banking sector grew, supported by increased investments and a rise in loans and receivables. Deposits, constituting the largest funding source, […] - [Trump’s Tariffs: What They Mean for Global Trade in 2025](https://lankabiznews.com/trumps-tariffs-what-they-mean-for-global-trade/): As the U.S. heads into a potential second Trump presidency, global markets are once again bracing for a return to aggressive tariff policies that defined much of Trump’s first term(Trumps Tariffs). With Donald Trump strongly signaling that he will impose new tariffs on imports—particularly targeting Chinese goods—the global trade community is on high alert. While some industries may benefit from protectionist policies, the ripple effects across supply chains, emerging economies, and global prices could be profound. What Are Tariffs and Why Are They Back in Focus? Tariffs are taxes imposed on imported goods. The idea behind them is to make foreign […] - [Bank Accounts Being Hacked in Sri Lanka: What You Need to Know (And Do)](https://lankabiznews.com/bank-accounts-being-hacked-in-sri-lanka-2025/): If you’ve ever received a suspicious SMS or email claiming to be from your bank, you’re not alone. Sri Lanka has recently seen a sharp rise in bank-related cyberattacks — and it’s no longer just a problem overseas (Bank Accounts Being Hacked). From targeted phishing scams to full-on breaches, Sri Lankan banks have been under digital siege. This isn’t a scare story. It’s a wake-up call. Your money, your identity, and your peace of mind are all at risk — unless you take action. ⚠️ Recent Bank Hacks in Sri Lanka: A Closer Look 🏦 Cargills Bank Breach (March 2025) Cargills […] - [Colombo Stock Market in 2025: Market Momentum, Trends & Opportunities](https://lankabiznews.com/colombo-stock-market/): As Sri Lanka navigates through 2025, the Colombo Stock Market has remained a key barometer of the country’s economic health. After a turbulent few years of economic reform, currency depreciation, and debt restructuring, the CSE is showing signs of stabilization and renewed investor interest. Strong Start to 2025 The CSE All Share Price Index (ASPI) began the year on a strong note, crossing the 16,000-point mark in January. Investor confidence was buoyed by increased foreign interest, improved corporate earnings, and steady macroeconomic indicators. Although the index saw a slight correction in February, dipping to around 16,478 points from its January peak […] - [Revival of Hambantota Port: Sri Lanka’s Gateway to Global Trade](https://lankabiznews.com/hambantota-port/): A Sleeping Giant Awakens: Hambantota Port’s Remarkable Comeback Once considered a white elephant, Sri Lanka’s Hambantota International Port (HIP) is undergoing a striking transformation, rapidly becoming one of the most strategically important logistics and shipping hubs in South Asia. Situated along one of the busiest maritime trade routes in the world, the port is finally being recognized for its immense potential—thanks to sustained investments, improved management, and diversified operations. The Numbers Tell the Story In 2024, Hambantota Port recorded a 22% growth, echoing its impressive performance from the previous year. The first half of 2024 alone saw bulk and break-bulk cargo […] - [CBSL Holds Policy Rate at 8%: A Steady Path Toward Economic Recovery in Sri Lanka](https://lankabiznews.com/cbsl/): In a move that signals cautious optimism, the Central Bank of Sri Lanka (CBSL) has decided to keep its key policy rate unchanged at 8.00% for the second consecutive policy meeting. This decision reflects the bank’s continued focus on price stability, economic recovery, and a strategic approach to navigating the post-crisis financial landscape. For a country that faced one of the worst economic downturns in its history, this development marks a critical step in building confidence across the financial sector in Sri Lanka. A Look Back: From Crisis to Cautious Stability Sri Lanka’s economic challenges in 2022 and 2023 included hyperinflation, […] - [The Importance of Encouraging Exports for the Sri Lankan Economy](https://lankabiznews.com/exports/): Sri Lanka, a tropical island nation with a rich history and vibrant culture, stands at a critical juncture in its economic journey. With a population of over 22 million and a strategic location in the Indian Ocean, the country has immense potential to become a thriving hub in global trade. However, to unlock this potential and ensure sustainable economic growth, Sri Lanka must prioritize and encourage its export sector. Exports are not just a means of earning foreign exchange; they are a lifeline for economic stability, job creation, and long-term prosperity. In this article, we explore why fostering exports is vital […] - [The Tea Industry and Its Untapped Potential for Sri Lanka](https://lankabiznews.com/tea-industry-and-its-untapped-potential-for-sri-lanka/): When people across the world think of premium tea, Ceylon tea is often the first name that comes to mind. For over a century, Sri Lanka has held a revered place in the global tea market. Introduced during the British colonial era in the 19th century, the tea industry has since become a cornerstone of the island’s economy, culture, and identity. Yet, despite its historic success, the Ceylon tea industry stands at a crossroads—facing modern challenges, but also brimming with untapped potential for the future. A Glimpse into the Legacy of Ceylon Tea Sri Lanka is one of the largest tea […] - [Loss-Making SOEs Bleeding the Economy: Why the Government Can No Longer Afford to Sustain These Ventures](https://lankabiznews.com/loss-making-soes-bleeding-the-economy/): Sri Lanka’s economic recovery remains fragile, and a major roadblock to long-term fiscal stability continues to be the staggering financial burden posed by loss-making state-owned enterprises (SOEs-Loss-Making SOEs Bleeding). With seven key SOEs running in the red, the government is grappling with a difficult but unavoidable question: Can the country continue to sustain ventures that have become black holes for public finances? The Alarming Scale of the Problem At the forefront of the crisis is SriLankan Airlines, the national carrier that has amassed an eye-watering debt of nearly Rs. 340 billion. This single SOE alone represents one of the largest financial […] - [The Expected Pricing of Vehicles Imported to Sri Lanka After a Long Hiatus](https://lankabiznews.com/vehicles-import/): The Sri Lankan automobile market has been in a state of stagnation for several years due to import restrictions imposed in 2020(Vehicles Import). With the anticipated relaxation of these restrictions, prospective car buyers, businesses, and industry analysts are eager to understand the expected pricing of vehicles in Sri Lanka. Factors such as import duties, exchange rates, global vehicle prices, and local demand will significantly influence the final cost of new and used cars in the country. The Impact of Import Restrictions on Vehicle Prices Since the government banned vehicle imports in 2020, the Sri Lankan automotive market has been facing an […] - [CSE Halts Trading on Wealthtrust Securities Debut Day Due to Erroneous Trades](https://lankabiznews.com/cse-halts-trading-due-to-erroneous-trades/): The Colombo Stock Exchange (CSE) has maintained a market-wide trading halt throughout January 7, 2026, following irregular pricing in early transactions of newly listed Wealthtrust Securities Limited. As captured in the latest attention from the CSE website at approximately 14:25 local time, the market status remains Halt, with no resumption announced yet. The day started on a positive note for Wealthtrust Securities Limited (ticker: WLTH.N0000), a financial services firm debuting on the CSE’s Diri Savi Board. Company representatives rang the opening bell earlier this morning, celebrating the start of trading after a highly oversubscribed Initial Public Offering (IPO) priced at LKR […] - [Sri Lanka's Rubber and Rubber Products Exports: Navigating Global Opportunities in 2026](https://lankabiznews.com/sri-lankas-rubber-and-rubber-products-exports/): Sri Lanka’s rubber industry remains a pivotal force in the country’s export landscape, merging traditional agricultural roots with advanced manufacturing to generate substantial foreign revenue. Despite a 5.92% year-on-year decline in rubber and rubber finished products exports to US$ 793.7 million from January to October 2025, the sector demonstrates resilience amid global market fluctuations. With the global rubber market valued at approximately US$ 48.77 billion in 2024 and projected to grow at a compound annual growth rate (CAGR) of 5.1% to reach US$ 65.65 billion by 2030, Sri Lankan stakeholders are eyeing expanded opportunities in sustainable and value-added segments. This article […] - [Unlocking the Export Potential of Sri Lanka's Cinnamon and Spices Sector](https://lankabiznews.com/export-potential-of-sri-lanka-cinnamon-and-spices/): Sri Lanka’s spices and essential oils sector reached US$ 405.7 million in export earnings for the first eleven months of 2025, reflecting a 2.16% year-on-year decrease from US$ 414.67million in 2024. This performance, driven by growth in cinnamon and cloves. Meanwhile, exports of Spices and Essential Oils decreased by 9.21 % to US$ 37.47million in November 2025, largely driven by a sharp decline in pepper exports to India, which decreased by 50.57 %. As global demand for natural, authentic spices rises in health, culinary, and industrial applications, Sri Lanka’s Ceylon cinnamon, commanding nearly 90% of the true Ceylon variety market presents […] - [Driving Growth: SEC and CSE Collaborate to Expedite Listings Through Advisor Awareness](https://lankabiznews.com/sec-and-cse-collaborate-to-expedite-listings/): The Securities and Exchange Commission of Sri Lanka (SEC) in collaboration with the Colombo Stock Exchange (CSE) conducted an awareness session for Corporate Finance Advisors focusing on enhancing regulatory compliance and streamlining the listing process. The forum brought together Corporate Finance Advisors and senior officials from the SEC and CSE to enhance the listing process by addressing regulatory expectations, identifying prevalent shortcomings in applications, and establishing best practices to strengthen investor confidence and market integrity. Addressing the participants, Senior Prof. D.B.P.H. Dissabandara, Chairman, SEC highlighted the vital role Corporate Finance Advisors play in building market confidence beyond their traditional functions in […] - [Oil Market Analysis 2026: Post-Geopolitical Shift Dynamics and Price Trends](https://lankabiznews.com/oil-market-2026-geopolitical-shift-price-trends/): The global oil market in early 2026 is undergoing a notable shift following recent geopolitical developments, prompting a reevaluation of supply-demand balances and price trajectories. As of 11:11 AM +0530 on Monday, January 5, 2026, benchmark oil prices reflect a period of adjustment, with Brent crude and West Texas Intermediate (WTI) displaying subtle yet significant movements amid evolving market conditions. This analysis delves into the latest oil market trends, focusing on price fluctuations, supply dynamics, demand forecasts, and recent updates from trusted industry sources such as OilPrice.com. The emphasis is on providing a comprehensive oil market outlook, incorporating the most current […] - [Sri Lanka's Gem and Jewellery Sector Targets $1 Billion Export Goal](https://lankabiznews.com/sri-lanka-gem-sector-targets-1-billion-export/): Sri Lanka’s gem and jewellery industry is building momentum toward a long-term target of $1 billion in annual export earnings, supported by recent reforms and the nation’s established reputation for premium coloured gemstones. Exports for the first nine months of 2025 reached USD 310.52 million, with full-year projections estimating USD 400-500 million, reflecting steady progress amid ongoing enhancements to licensing, ethical practices, and value addition. As global demand grows for responsibly sourced and distinctive gems, particularly sapphires, the sector leverages its geological strengths and lapidary expertise to stand out in luxury markets. Continued focus on transparency and innovation positions the industry […] - [Unlocking the Potential of Sri Lanka's Hand-Woven Textile Sector](https://lankabiznews.com/he-potential-of-sri-lankas-hand-woven-textile/): The global hand-woven products market is on a steady growth path, valued at USD 8.87 billion in 2025 and projected to reach USD 19.69 billion by 2035, reflecting a compound annual growth rate (CAGR) of 8.2%. This expansion is driven by rising consumer demand for authentic, sustainable, and ethically produced textiles, particularly in premium and niche segments that prioritize craftsmanship and cultural heritage. Sri Lanka’s hand-woven textile industry, with its deep-rooted traditions and skilled artisan base, is well-positioned to capitalize on these trends. As international buyers increasingly seek differentiated products, the sector offers opportunities for value addition, export growth, and inclusive […] - [Grok 4 Tops AI Trading Leaderboard: A Milestone in AI-Driven Investing](https://lankabiznews.com/grok-4-tops-ai-trading-leaderboard/): In a compelling demonstration of artificial intelligence capabilities, Grok 4 has emerged as the leader in a high-profile AI investing competition, achieving the highest returns among top models in live market conditions. The competition, which allocates substantial starting capital to each participating AI, tests real-world trading performance over an extended period. Grok 4’s top position, with a portfolio value exceeding $105,000 and a return of approximately 5.9%, highlights the advancing role of AI in financial decision-making. This development comes amid rapid evolution in large language models, where practical applications like autonomous trading are pushing boundaries. Close behind, an open-source contender delivered […] - [Sri Lanka's Coconut Sector Achieves Historic $1 Billion Export Milestone in 2025](https://lankabiznews.com/sri-lanka-coconut-sector-1-billion-export/): Sri Lanka’s coconut industry has marked a significant achievement, with export earnings from coconut and coconut-based products surpassing $1 billion for the first time in the January to October period of 2025. Data from the Export Development Board indicates revenues reached approximately $1.034 billion, reflecting a robust 43.83% growth compared to the same period in 2024. This performance has elevated the sector’s contribution to around 7.2% of the nation’s total merchandise exports, underscoring its growing importance in driving foreign exchange inflows. This milestone highlights the resilience and potential of one of Sri Lanka’s traditional agricultural strengths, supported by focused initiatives from […] - [Sri Lanka's Digital Surge: Data Usage Hits 17.7 GB Per Person in Q3 2025](https://lankabiznews.com/data-usage-hits-17-7-gb-per-person-in-q3-2025/): Sri Lanka’s telecommunications sector is experiencing a remarkable transformation, with average monthly data usage per person climbing to 17.7 GB in the third quarter of 2025. This marks an 11.8% year-on-year increase, reflecting a broader shift toward a digitally driven economy fueled by high smartphone adoption and expanding infrastructure. The latest quarterly statistics reveal total data consumption reaching 1.155 million terabytes, underscoring the nation’s growing reliance on connectivity for daily life, business, and entertainment. Despite ongoing challenges in market penetration and affordability, this data boom signals positive momentum for economic recovery and digital inclusion. As mobile and fixed networks evolve, the […] - [Public Urged to Dispose of E-Waste Responsibly: A Call for Sustainable Action in Sri Lanka](https://lankabiznews.com/public-urged-to-dispose-of-e-waste-responsibly/): As Sri Lanka accelerates its digital transformation and economic recovery, the Central Environmental Authority has issued a strong appeal for responsible disposal of electronic waste, commonly known as e-waste. This initiative emphasizes safe storage and proper handover through authorized channels to mitigate environmental harm and health risks. With growing volumes of discarded electronics from households and businesses, the push highlights the urgent need for structured management systems to protect ecosystems and public well-being. This development comes at a time when e-waste generation is surging globally and locally, driven by rapid technology adoption. Proper disposal not only safeguards the environment but also […] - [Gold Shines Brightest: A Review of Sri Lanka's Investment Landscape in 2025](https://lankabiznews.com/gold-price-sri-lanka-investment-landscape-in-2025/): In a year marked by global economic shifts and renewed investor confidence, 2025 proved to be a standout period for traditional safe-haven assets in Sri Lanka. According to fresh insights from market intelligence firm Sparkwinn Research, gold emerged as the undisputed champion, delivering an extraordinary 65% annual return on 22-karat gold per gram. This performance far outpaced equities, fixed-income options, and even real estate, underscoring a pivotal shift toward fundamental assets amid uncertainty. Also in Explained | Sri Lanka’s Brain Drain Crisis: The Cost of Losing Our Brightest Minds Gold: The Standout Performer The yellow metal’s surge highlights its enduring appeal in wealth […] - [SEC Sri Lanka Eases Minimum Public Holding Rules for Listings via Introductions to Boost Market Flexibility](https://lankabiznews.com/sec-sri-lanka-eases-minimum-public-holding-rules/): The Securities and Exchange Commission of Sri Lanka (SEC) has approved amendments to the Colombo Stock Exchange (CSE) Listing Rules to provide greater flexibility regarding the Minimum Public Holding (MPH) requirement for companies listing through the Introduction method. These revisions were proposed and deliberated under Project 6 – New Listings (Public and Private), one of 12 key strategic initiatives launched by the SEC to strengthen Sri Lanka’s capital market framework. Project 6 aims to drive national capital formation, promote listings by highlighting benefits and opportunities for listed entities, and attract large-scale corporates to enhance market depth, liquidity, and investor confidence. The […] - [Corporate Criminal Liability Under Sri Lanka's Anti-Corruption Act of 2023: Key Insights for Businesses](https://lankabiznews.com/anti-corruption-act-no-9-of-2023-aca-sri-lanka/): In a timely analysis published in the Daily FT on December 29, 2025, Prof. Kalinga Indatissa, President’s Counsel and former President of the Bar Association of Sri Lanka, examines the implications of corporate criminal liability under the Anti-Corruption Act No. 9 of 2023 (ACA). The column addresses growing concerns in Colombo’s corporate sector regarding investigations by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) involving private entities. As Sri Lanka strengthens its governance framework amid economic recovery, this expert insight highlights the expanded scope of anti-corruption measures, particularly how they now encompass private sector bribery and corporate accountability. Businesses […] - [Licensed Finance Companies Show Mixed Performance in Q3 2025 FSIs](https://lankabiznews.com/licensed-finance-companies-sector-in-q3-2025-fsis/): The Central Bank of Sri Lanka’s Q3 2025 Financial Soundness Indicators reveal a dynamic picture for the Licensed Finance Companies (LFCs) sector, marked by sharp improvements in asset quality and profitability alongside pressures on capital adequacy and liquidity as assets expand rapidly. With the sector playing a crucial role in serving underserved segments like vehicle financing and SMEs, these trends highlight opportunities and challenges in Sri Lanka finance companies 2025. Also in Explained | Sri Lanka’s Banking Sector Demonstrates Resilience in Q3 2025 Financial Soundness Indicators Capital Adequacy Under Pressure from Rapid Expansion The Total CAR declined to 19.1% at end Q3 2025 […] - [Sri Lanka's Banking Sector Demonstrates Resilience in Q3 2025 Financial Soundness Indicators](https://lankabiznews.com/sri-lanka-banking-sector-in-q3-2025-fsi-of-cbsl/): The Central Bank of Sri Lanka (CBSL) has released its latest Financial Soundness Indicators (FSIs) for the third quarter of 2025, highlighting sustained resilience in the banking sector amid ongoing economic recovery. Licensed Commercial Banks and Licensed Specialised Banks reported improved capital positions, better asset quality, and robust profitability, reflecting the positive impact of macroeconomic stabilization efforts. As Sri Lanka banking sector 2025 continues to support credit growth and financial inclusion, these indicators signal a stable foundation for lending and investment activities heading into 2026. Also in Explained | Sri Lanka’s Debt Position: What It Means for Business, Investment, and Economic Stability Strong […] - [Sri Lanka’s Debt Position: What It Means for Business, Investment, and Economic Stability](https://lankabiznews.com/sri-lanka-debt-position-for-business-investment/): Sri Lanka’s debt profile remains one of the most defining factors shaping its macroeconomic outlook, corporate environment, and investor confidence. Recent reviews and data released by the Central Bank of Sri Lanka (CBSL) underline a clear reality: while stabilisation efforts are ongoing, the economy is still heavily influenced by high public debt, fiscal pressures, and the need for disciplined policy execution. For businesses, this is more than a sovereign finance issue it directly affects interest rates, liquidity, foreign exchange stability, investor sentiment, and the broader operating climate. Also in Explained | Shadow Imports Flood Sri Lanka’s Computer Hardware Market, Threatening Legitimate Businesses Debt […] - [Sri Lanka Shatters 2018 Tourism Record with 2.33 Millionth Arrival in 2025](https://lankabiznews.com/sri-lanka-tourism-record-2-33-millionth-arrival/): History unfolded at Bandaranaike International Airport today as Sri Lanka Tourism welcomed a family from Thiruvananthapuram, India, marking the arrival of the 2,333,797th visitor for the year. This milestone officially surpasses the all-time high of 2,333,796 tourists set in 2018, capping a remarkable recovery for the sector amid post-crisis challenges. According to the Sri Lanka Tourism Development Authority (SLTDA), this achievement highlights the industry’s resilience and strategic growth in 2025, with arrivals far exceeding the 2,053,465 recorded in 2024. As Sri Lanka tourist arrivals 2025 cross into record territory, the influx promises substantial foreign exchange earnings and economic momentum heading into […] - [Shadow Imports Flood Sri Lanka's Computer Hardware Market, Threatening Legitimate Businesses](https://lankabiznews.com/shadow-imports-flood-computer-hardware-market/): Sri Lanka’s rapidly growing computer hardware sector is facing a severe threat from “shadow imports” unofficial and illegal channels that account for up to 50% of products sold in categories like laptops, desktops, monitors, and accessories. The Federation of Information Technology Industry Sri Lanka (FITIS), the country’s apex IT body, has raised serious concerns about these practices, warning of distorted market competition, revenue losses, and risks to consumers. As the nation accelerates its digital transformation in 2025, with increasing demand for personal and enterprise computing devices, the influx of grey-market goods undermines legitimate importers and retailers who comply with full duties […] - [Sierra Cables PLC - Becoming a Powerhouse of Growth While Expanding a Global Market Footprint ](https://lankabiznews.com/sierra-cables-plc-growth-global-market-footprint/): Harsha Jayatunga – Executive Director / CEO – Sierra Cables PLC Reflecting an upward trend of growth and consolidation, Sierra Cables PLC has posted a strong performance during the first six months of the 2025/26 financial year, says Mr Harsha Jayatunga, Executive Director/CEO of Sierra Cables PLC. With revenue increasing from about Rs.4.2 billion to Rs.7.5 billion, and profit after tax reaching around Rs.1.3 billion, the results reflect a 140% year-on-year growth. Optimising the Value Proposition as a Market Leader “We have been focusing consistently on enhancing exports, while increasing the capacity for  higher-end cables required for infrastructure and construction projects. […] - [Moldova-Sri Lanka Charter Flights to Boost Winter Tourism with 1,500 Visitors](https://lankabiznews.com/moldova-sri-lanka-flights-to-boost-winter-tourism/): Sri Lanka’s tourism sector is set for a significant boost this winter season as charter flights from Moldova commence operations, bringing approximately 1,500 tourists primarily from Ukraine. Operated by Vision Air, these direct flights mark a strategic expansion of air connectivity from Eastern Europe, capitalizing on the ongoing demand for tropical escapes amid regional challenges. The initiative, facilitated through partnerships with international tour operators, underscores Sri Lanka’s aggressive push to diversify tourist source markets in 2025-2026. With arrivals surpassing pre-crisis levels in recent months, such targeted charter programs are proving instrumental in sustaining momentum and driving foreign exchange earnings. Also in […] - [Sri Lanka Customs Seals Multi-Billion Rupee Vehicle Tax Loophole with New Digital Integration](https://lankabiznews.com/sri-lanka-customs-seals-vehicle-tax-loophole/): In a groundbreaking move to bolster state revenue and enhance transparency in the automotive import sector, Sri Lanka Customs has rolled out a sophisticated technological overhaul. This initiative directly links the Customs’ ASYCUDA World platform with the Department of Motor Traffic (DMT), effectively closing a long-exploited loophole that allowed tampering with vehicle specifications to evade hefty import duties. The reform, spotlighted in recent parliamentary discussions, addresses years of fiscal vulnerabilities in Sri Lanka vehicle imports. With vehicle imports resuming in phases throughout 2025 after a prolonged ban, the timing couldn’t be more critical. This digital upgrade not only safeguards billions in […] - [Global Economists Urge Immediate Debt Suspension for Sri Lanka Post-Cyclone Ditwah Devastation](https://lankabiznews.com/sri-lanka-debt-suspension-call-after-cyclone/): Sri Lanka’s fragile economic recovery has been shaken once again. In the aftermath of Cyclone Ditwah, which struck in late November 2025, more than 120 leading global economists have issued a public statement urging the immediate suspension of Sri Lanka’s external sovereign debt payments and a fresh round of restructuring. The statement, released on December 21, 2025 and coordinated by the campaign group Debt Justice, argues that the devastation caused by the cyclone has overwhelmed the limited fiscal space created by Sri Lanka’s 2024 debt deals. For businesses, policymakers, and investors, the call underscores the urgent need to balance humanitarian recovery […] - [IMF Warns Sri Lanka’s Economic Gains Still Vulnerable: Supportive but Firm on Discipline](https://lankabiznews.com/imf-warn-sri-lanka-economic-gain-still-vulnerable/): Sri Lanka’s pathway out of its historic economic crisis has faced a new test in the aftermath of Cyclone Ditwah. While the International Monetary Fund (IMF) has reassured continued support, including supplementary financing its latest remarks clearly signal both confidence in progress and caution about risks ahead. IMF Mission Chief for Sri Lanka Evan Papageorgiou, speaking at a virtual briefing, acknowledged that reforms under the Extended Fund Facility (EFF) have helped stabilise the economy. Yet, he stressed the recovery remains fragile, growth is still below pre-crisis levels, and fresh shocks could easily derail hard-won gains if discipline slips. A Crucial Lifeline […] - [LB Finance’s Entry into the Philippines: A Strategic Leap in Regional Financial Expansion](https://lankabiznews.com/dhammika-perera-lb-finance-expands-to-philippines/): Sri Lanka’s LB Finance PLC, one of the country’s most prominent non-bank financial institutions (NBFIs), has received regulatory approval from the Central Bank of Sri Lanka to establish a wholly owned subsidiary in the Philippines. The new entity, LB Finance Philippines Inc., marks a significant milestone in LB Finance’s regional expansion strategy and signals a bold move to diversify its footprint beyond South Asia. With an initial investment of USD 650,000, the subsidiary will engage in financial services in the Philippines, subject to licensing and incorporation approvals from local authorities. The announcement, made via corporate disclosure to the Colombo Stock Exchange […] - [SEC to Introduce Code of Ethics for Capital Market Influencers Amid Rising Scam Risks](https://lankabiznews.com/sec-sri-lanka-plans-code-of-ethics-capital-market/): Sri Lanka’s Securities and Exchange Commission (SEC) has announced plans to introduce a Code of Ethics for capital market influencers, a move aimed at protecting investors from fraudulent schemes that have recently surfaced in the share market. The regulator’s decision comes after identifying unauthorised entities such as Blue Ocean Securities Limited and Gladius South Asia, both accused of misleading investors and conducting activities outside the SEC’s regulatory framework. Deputy Director General of the SEC, Tushara Jayaratne, explained at a media briefing that these scams highlight the urgent need for guidelines governing the activities of individuals and firms who influence investor behaviour. […] - [Elon Musk's Vision: Space-Based AI - The Path to Unlimited Energy and Advanced Civilization](https://lankabiznews.com/elon-musks-vision-space-based-ai-solar-energy/): Elon Musk, the visionary behind Tesla, SpaceX, and xAI, has once again sparked global discussion on the future of energy and artificial intelligence. In a recent clip from the 2025 US-Saudi Investment Forum, shared widely on X (formerly Twitter), Musk argued that deploying AI computing systems in space, powered directly by solar energy is not just feasible, but inevitable for humanity’s long-term progress. “If civilization continues, AI in space is inevitable,” Musk stated. “In order to achieve any meaningful percentage of a Kardashev II-scale civilization, where you’re using even a millionth of the Sun’s energy you must have solar-powered AI satellites […] - [Bank of Ceylon’s Rs. 20 Billion Sustainability Bonds: What It Means for Sri Lanka’s Capital Market](https://lankabiznews.com/bank-of-ceylon-rs-20-billion-basel-iii-bonds/): Sri Lanka’s largest bank, Bank of Ceylon (BOC), is preparing to raise up to Rs. 20 billion through Basel III‑compliant Tier II Sustainability Bonds. The Colombo Stock Exchange (CSE) has granted in‑principle approval for the listing, marking one of the most significant capital market developments of 2025. The subscription list opens on 22 December and will be limited to qualified investors, as specified in the prospectus. With an initial offer of Rs. 10 billion and two additional options of Rs. 5 billion each, the issue represents both a test of investor appetite and a signal of BOC’s strategic priorities in strengthening […] - [SpaceX’s $1 Trillion IPO: How Orbital AI Infrastructure Could Reshape Global Computing in 2026](https://lankabiznews.com/spacex-1t-ipo-2026-orbital-ai-strategy/): Elon Musk’s SpaceX is preparing for what analysts project could be the largest initial public offering in corporate history, with a 2026 launch targeting over $30 billion in capital at a potential valuation exceeding $1 trillion. This marks a fundamental strategic pivot for the private space company, and reveals an ambitious solution to artificial intelligence’s most pressing constraint: energy availability. The announcement, confirmed by Musk in response to financial analyses, represents more than a conventional capital raise. SpaceX’s IPO timing aligns precisely with plans to deploy next-generation Starlink V3 satellites equipped with AI processing capabilities, positioning the company to capture emerging […] - [Rebuilding Sri Lanka’s Industrial Backbone: How Large-Scale Industries Will Recover After Cyclone Ditwah](https://lankabiznews.com/rebuilding-sri-lankas-industrial-backbone/): Sri Lanka’s industrial sector has faced repeated shocks over the past few years, but Cyclone Ditwah marked one of the most disruptive events for large-scale manufacturing and production in recent memory. The scale of damage to factories, supply chains, logistics networks, and workforce continuity forced the Government to move beyond short-term relief and adopt a structured recovery framework. The latest high-level review led by the Ministry of Industry and Entrepreneurship Development signals a decisive shift in how Sri Lanka plans to revive and future-proof its large-scale industries. At the centre of this effort is a coordinated public–private partnership model that brings […] - [US Under Secretary Allison Hooker Meets President Dissanayake: Tariffs, Recovery, and Sri Lanka’s Strategic Future](https://lankabiznews.com/us-under-secretary-meets-sri-lankas-president/): The President’s Media Division announced yesterday that visiting US Under Secretary of State for Political Affairs Allison Hooker conveyed to President Anura Kumara Dissanayake that the United States has drawn its attention to restarting tariff negotiations with Sri Lanka. The meeting comes at a critical juncture for the country, as Sri Lanka grapples with post‑Cyclone Ditwah recovery while facing looming external pressures from global trade policy shifts. Hooker’s remarks underscored Washington’s readiness to provide support for Sri Lanka’s recovery efforts, while also highlighting opportunities to expand tourism, trade, and maritime cooperation. She further pledged US assistance in combating drug‑related issues, a […] - [SEC Turns Scammer’s Pitch into Evidence: Investor Protection and the Rising Threat of Fraudulent Calls](https://lankabiznews.com/sec-turns-scammers-pitch-into-evidence-sri-lanka/): Investor protection in Sri Lanka has entered a new phase. The Securities and Exchange Commission of Sri Lanka (SEC) has not only warned against fraudulent operators but has gone a step further turning a scammer’s own sales pitch into evidence. In a striking move, the regulator released an audio recording of a caller attempting to lure clients into an “investment opportunity.” What the scammer did not realise was that he had dialed an SEC official. Oblivious, he spent the call promoting a fraudulent platform directly to the watchdog tasked with shutting him down. This incident underscores both the creativity of fraudsters […] - [The AI Platform Wars: How Grok, Gemini, and ChatGPT Are Reshaping Enterprise Technology in 2025](https://lankabiznews.com/grok-ai-leads-growth-chatgpt-gemini-competition/): The artificial intelligence market is experiencing unprecedented competition as multiple platforms vie for dominance, with implications for enterprise technology strategy, digital transformation initiatives, and investment priorities across global markets. As organizations accelerate digital transformation efforts, the AI landscape has evolved from a two-horse race between OpenAI’s ChatGPT and Google’s Gemini into a multi-platform battleground. Emerging challengers like xAI’s Grok, Anthropic’s Claude, and Perplexity are capturing significant market share, fundamentally altering enterprise AI adoption strategies and forcing established players to innovate faster than ever. The Competitive Landscape: Beyond the Giants According to Financial Times analysis of Sensor Tower data, Google’s Gemini application […] - [Google’s Bold Leap: Building Data Centers in Space to Power the Future of AI](https://lankabiznews.com/google-space-data-centers-2027-ai-revolution/): Imagine servers orbiting Earth, basking in constant sunlight, and running the world’s most powerful AI without ever paying an electricity bill or using a single drop of water for cooling. What was once pure science fiction is now Google’s official roadmap and it’s closer than you think. Why Earth Can’t Keep Up with AI’s Energy Hunger Artificial intelligence is exploding. From ChatGPT-style bots to self-driving cars and medical diagnostics, every breakthrough needs enormous computing power. The catch? That power comes from data centers that are already pushing our planet to the limit. Traditional data centers guzzle electricity, require millions of liters […] - [Odel Mall Recast: How Financial Pressure and Market Shifts Turned Luxury Apartments into Office Space](https://lankabiznews.com/odel-mall-financial-pressure-and-market-shifts/): Based on reports from the Daily Mirror (Link), we developed this analysis to examine how Odel’s Ward Place project has shifted from luxury apartments to office space, reflecting the intersection of macroeconomic realities, sectoral changes, and internal financial pressures. Realignment of the Project’s Revenue Model The original luxury apartment proposition was premised on market conditions that existed before Sri Lanka’s economic downturn, when demand for high‑end residential property was rising, developers could rely on pre‑sales, and credit conditions were comparatively stable. Today, however, residential demand has weakened due to shrinking disposable incomes, high interest rates, reduced foreign investor appetite, and shifting […] - [Cyclone Ditwah and Sri Lanka’s Crossroads: Resetting a Nation or Repainting the Past?](https://lankabiznews.com/cyclone-ditwah-sri-lanka-crossroads-next-steps/): Sri Lanka has endured disasters before; from the 2004 tsunami to floods, landslides, and economic shocks. Each time, international donors, local communities, and diaspora networks rallied to help the country rise again. But Cyclone Ditwah is different. It has not only displaced families and destroyed homes; it has struck at the core of Sri Lanka’s infrastructure, damaging the century‑old British railway system, bridges, and arterial roads. This raises a profound question: will recovery mean simply repairing what was lost, or will Sri Lanka seize this moment to reset and rebuild differently? Also in Explained | Rebuilding After the Cyclone: What Sri Lanka’s Economy […] - [Netflix’s $72 Billion Warner Bros. Deal: Legacy, Power, and the Future of Global Media](https://lankabiznews.com/netflix-buy-warner-bros-discovery-for-72-billion/): On December 5, 2025, Netflix stunned the entertainment world by announcing a $72 billion agreement to acquire Warner Bros. Discovery’s film studios and streaming division, including HBO Max. The deal, if approved, would give Netflix control of some of Hollywood’s most iconic franchises Harry Potter, Game of Thrones, and DC Comics while reshaping the global entertainment industry. For Sri Lanka’s business audience, this transaction is not just about Hollywood glamour. It is a case study in market consolidation, legacy transfer, and the economics of scale in digital media. It also raises questions about how a century‑old studio, once the pride of […] - [Meta’s Metaverse Retreat: Zuckerberg’s Pivot to AI Wearables and Global Business Lessons](https://lankabiznews.com/zuckerberg-metaverse-after-70-billion-in-losses/): In December 2025, reports from Fortune, Bloomberg, and other outlets confirmed that Meta CEO Mark Zuckerberg is preparing deep cuts to the company’s metaverse division, including layoffs and budget reductions of up to 30%. This marks a dramatic shift for a company that rebranded itself from Facebook to Meta in 2021 to champion virtual reality and the metaverse. After pouring more than $70 billion into Reality Labs since 2021, Meta has failed to achieve mainstream adoption of its flagship metaverse platform, Horizon Worlds. Now, Zuckerberg is pivoting toward AI glasses, wearable devices, and augmented reality technologies that promise clearer consumer demand […] - [Sri Lanka Disaster Recovery Update: Rebuilding Sri Lanka Fund & More Solidarity](https://lankabiznews.com/sri-lanka-cyclone-recovery-2025-ditwah/): As of the morning of 05 December 2025, Sri Lanka’s post-cyclone recovery efforts have entered a critical phase, marked by rapid infrastructure restoration, international solidarity, and strategic economic planning. Cyclone Ditwah, which struck in late November, caused widespread damage to transport networks, electricity infrastructure, and livelihoods across multiple districts. However, coordinated efforts from government agencies, foreign allies, corporate donors, and national institutions have accelerated the recovery process. Also in Explained | Sri Lanka’s Cyclone Ditwah Response: Infrastructure, Aswesuma & Mahapola Welfare Rebuilding Sri Lanka Fund: A Beacon of Solidarity The Government’s ‘Rebuilding Sri Lanka’ Fund has received over Rs. 697 million in donations, […] - [Sri Lanka Tourism After the Floods: Recovery, Safety, and Southern Resilience](https://lankabiznews.com/sri-lanka-tourism-flood-impact-2025-travel-guide/): Sri Lanka’s tourism sector faced a significant challenge in November 2025, as severe floods and cyclone conditions disrupted travel, infrastructure, and hospitality services across several regions. Yet, amid the crisis, the country demonstrated remarkable coordination, resilience, and care especially in its treatment of international visitors. With the southern provinces largely unaffected and recovery efforts underway, Sri Lanka continues to welcome tourists with safety, flexibility, and hospitality at the forefront. This analysis explores the economic impact of the floods on tourism, the government’s rapid response, and why travelers should continue supporting Sri Lanka’s tourism economy particularly in safe zones like the south. […] - [The Hidden Cost of Mental Health After Sri Lanka’s Cyclone and Floods](https://lankabiznews.com/mental-health-cost-sri-lanka-after-floods-cyclone/): Sri Lanka’s recent cyclone and floods have left behind more than damaged roads, submerged fields, and disrupted supply chains. The mental health toll is emerging as one of the most significant yet least measured economic costs. According to UNICEF, over 275,000 children were affected, while the UN estimates nearly 1 million people displaced. Behind these statistics lies a silent crisis; trauma, anxiety, depression, and stress disorders that reduce productivity, weaken household resilience, and slow national recovery. For a country already managing debt restructuring and fragile growth, the cost of mental health post‑disaster is not just a humanitarian issue, it is an […] - [Suwanda Industries (Cycle Pure Incense – Sri Lanka) Recertified as ZeroCarbon® Manufacturer for 2025](https://lankabiznews.com/suwanda-industries-zerocarbon-manufacturer-2025/): Suwanda Industries, known globally under the brand name Cycle Pure Incense, is proud to announce its recertification as a ZeroCarbon® Manufacturer for 2025. This marks another significant milestone in the company’s ongoing journey of environmental responsibility and purpose-driven business. As Sri Lanka’s only Carbon Neutral Manufacturer of Incense Sticks, this achievement reaffirms the company’s unwavering dedication to reducing its environmental impact while promoting sustainable growth and community empowerment. “Being recertified as a ZeroCarbon® Manufacturer is more than a badge of honour, it is an endorsement of the responsibility we carry,” said Anuradha Ekanayake, CEO of Cycle Pure Incense (Suwanda Industries). “Our […] - [Rebuilding After the Cyclone: What Sri Lanka’s Economy Needs Now](https://lankabiznews.com/rebuilding-after-the-cyclone-sri-lankas-economy/): Sri Lanka’s recent cyclone delivered a sharp reminder of how vulnerable our economy remains to climate shocks. Beyond the immediate humanitarian crisis, the storm disrupted supply chains, damaged infrastructure, and destabilised industries that sustain millions of livelihoods. Post-disaster recovery is not simply about repairing what was broken; it is about rebuilding smarter, strengthening resilience, and preparing for the next climate event. This article examines the economic impact of the cyclone, what recovery efforts must focus on, and how the private sector, government, and development partners can accelerate the nation’s return to stability. The Economic Shock: What the Cyclone Disrupted The cyclone […] - [Rebuilding After the Cyclone: The Economic Priorities Sri Lanka Cannot Ignore](https://lankabiznews.com/rebuilding-after-the-cyclone-ditwah-in-sri-lanka/): Sri Lanka’s latest cyclone was not just a weather event, it was an economic shock. In less than 48 hours, heavy rainfall, flooding, and infrastructure failures disrupted transport networks, power supply, agriculture, fisheries, and small enterprises. Relief operations are still underway, but the real economic test lies ahead, rebuilding in a way that strengthens resilience rather than repeating past vulnerabilities. This analysis looks at the cyclone’s economic impact, the sectors most affected, and the structural reforms and investments required for a durable recovery. Infrastructure Damage: The Most Expensive Part of Recovery Sri Lanka’s urban and rural infrastructure remains fragile. The cyclone […] - [Asia Under Disaster 2025: Safety First, Business Next](https://lankabiznews.com/asia-under-disaster-safety-first-business-next/): From Sri Lanka’s floods to landslides in Vietnam, cyclones in the Bay of Bengal, and severe inundations across Thailand, Malaysia, and Indonesia, Asia is under disaster pressure in 2025. Communities across the region are struggling to balance human safety with economic survival. The lesson is clear! While nature eventually stabilises, infrastructure, livelihoods, and businesses do not automatically recover. Roads remain broken, farms destroyed, and supply chains disrupted long after the rains stop. For citizens, this means prioritising safety above all else. For businesses and policymakers, it means adopting resilience strategies that treat disasters as structural challenges, not temporary interruptions. Public Safety […] - [The New Sri Lankan Consumer 2025: Behavioural Shifts Every Business Must Understand](https://lankabiznews.com/the-new-sri-lankan-consumer-2025-business-ideas/): The Sri Lankan consumer has evolved rapidly. Understanding these shifts is essential for any business corporate or SME looking to maintain market share. Value Sensitivity Is Now Permanent Consumers, across all income brackets, scrutinise: Cheapest no longer wins; best value wins. Digital Discovery Dominates TikTok, Instagram, and WhatsApp are now the primary discovery channels. Consumers trust: Traditional advertising alone is insufficient. Urban vs Semi-Urban Divergence Urban markets show: Semi-urban markets prioritise: Businesses must segment offerings accordingly. Customer Experience Is the New Competitive Edge Fast response times, transparent policies, and smooth digital interfaces influence conversions far more than brand history. What Businesses […] - [Sri Lanka’s Tourism Earnings Slowdown: The Business Case Behind Falling Visitor Spend](https://lankabiznews.com/sri-lankas-tourism-earnings-slowdown/): Sri Lanka’s tourism sector is facing a structural profitability challenge that arrival numbers alone can no longer conceal. While visitor volumes have climbed steadily over the past two years, the financial return per tourist is weakening. The latest decision by the Sri Lanka Tourism Development Authority (SLTDA) to revise its average daily spending estimate from USD 171 to USD 148 formalises a trend many industry players had already sensed, Sri Lanka is attracting more travellers but they are spending less, staying shorter, and contributing less to the wider economy. For a sector that supports nearly 3% of GDP and acts as […] - [The Rising Cost of Capital in 2026: How Businesses Should Rethink Borrowing, Expansion, and Investment](https://lankabiznews.com/the-rising-cost-of-capital-in-2026-business-ideas/): Even with easing interest rates, the actual cost of capital in Sri Lanka remains high relative to profitability. Businesses cannot assume cheap borrowing will return. Instead, 2026 demands a disciplined approach to capital efficiency. Why Borrowing Still Remains Difficult Banks remain risk-averse due to: This creates a scenario where only well-prepared companies secure favourable credit. How Businesses Should Approach Borrowing in 2026 Borrow only for high-ROI projectsExpansion must be tied to measurable returns, not legacy assumptions. Strengthen working capital managementReduce cash trapped in inventory, receivables, and inefficient procurement. Improve financial transparencyBanks reward clean accounts, detailed projections, and clear governance. Capital Allocation […] - [Sri Lanka’s Exports Hit Record $14.4 Billion in First Ten Months of 2025: What It Means for the Economy, Trade, and Business Strategy](https://lankabiznews.com/sri-lanka-export-record-2025-14-4b-in-ten-months/): A Historic Milestone for Sri Lanka’s Export Sector Sri Lanka’s export earnings reached an all-time high of US$ 14.4 billion during the first ten months of 2025, according to consolidated data from Sri Lanka Customs and the Export Development Board (EDB). This marks the first time the country has crossed the $14 billion threshold within the January-October window, reflecting a 6.0% year-on-year growth compared to the same period in 2024. This performance is not just a statistical achievement it’s a strategic signal that Sri Lanka’s export sector is recovering, diversifying, and adapting to global demand patterns. With 80% of the annual […] - [Corporate Talent Drain 2.0: How Companies Can Retain and Attract High-Value Professionals](https://lankabiznews.com/corporate-talent-drain-2-0/): Talent mobility has become one of the most significant business challenges in Sri Lanka. The post-crisis exodus reshaped the labour market, but the next wave “Talent Drain 2.0” is more complex and more strategic. Professionals are not just leaving the country; they are switching industries, preferring global employers, and demanding new forms of leadership and value. Why Professionals Are Leaving Corporate Sri Lanka The drivers have evolved. Today’s professionals leave because they want: The old “loyalty-first” corporate model no longer appeals to high-value contributors. They want growth, psychological safety, and a sense that leadership understands the modern workforce. Retention Requires a […] - [Assetline Finance Soars High, Nearing 40% Asset Growth During 1st Half of FY2025/26](https://lankabiznews.com/assetline-finance-soars-high-40-asset-growth/): Assetline Finance Limited, which forms the core financial services pillar within the David Pieris Group, reported a strengthened and increasingly resilient first-half performance for FY2025/26, with significant gains in asset growth, income enhancement, and core profitability for the six months ended 30 September 2025. Total assets expanded to Rs. 72,712 million, representing nearly 40% growth within the first half of the financial year; an achievement that underscores the Company’s accelerated balance sheet expansion and deepening market presence. This broader and more robust balance sheet was driven by sustained lending growth and continued improvements in asset quality. Income generation also remained strong, […] - [Sri Lanka’s 2025 Economic Reset: What Business Leaders Should Prepare For](https://lankabiznews.com/sri-lanka-2025-economic-reset-business-insights/): Sri Lanka entered 2025 carrying the weight of two years of stabilisation, restructuring, and challenging reforms. Yet for the business community, this year marks a turning point not a return to old patterns, but the start of a structurally different economic landscape. The decisions made in 2025 will shape investment confidence, sectoral performance, and corporate resilience over the next decade. A More Predictable but Still Fragile Macro Environment The economy has moved from crisis management to stabilisation. Inflation, which once destabilised households and businesses, has slowed to more manageable levels. Interest rates have begun trending downward, although not fast enough to […] - [Sri Lanka to Issue Its First Dollar Bond Since the 2022 Default: What It Means and Why It Matters](https://lankabiznews.com/sri-lanka-issues-first-dollar-bond-since-2022/): Sri Lanka is preparing to issue a US$ 50 million Domestic Dollar Bond (DDB) on 3 December, marking the country’s first attempt to borrow in foreign currency since the economic crisis and sovereign default in 2022. This move is seen as an early step in rebuilding confidence, improving transparency, and reducing pressure on the country’s limited foreign reserves all while avoiding international capital markets, which remain largely closed to Sri Lanka until 2028. Although the amount US$ 50 million seems small in global terms, the significance lies in how the bond is being issued and what it signals about Sri Lanka’s […] - [India-Sri Lanka Power Grid Interconnection: A Comprehensive Analysis of South Asia’s Ambitious Energy Project](https://lankabiznews.com/india-sri-lanka-power-grid-connection-analysis/): The India-Sri Lanka HVDC Interconnection represents one of South Asia’s most strategically significant energy infrastructure projects, promising to reshape the region’s power landscape through a 400-kilometer submarine and overhead transmission system. As both nations move toward implementation, understanding the multifaceted implications of this cross-border energy corridor becomes crucial for stakeholders, investors, and citizens alike. Project Overview and Technical Specifications The India-Sri Lanka power grid interconnection involves a High Voltage Direct Current (HVDC) transmission line spanning approximately 400 kilometers, with roughly 60 kilometers traversing land and 340 kilometers underwater through the Palk Strait. The system’s capacity of 1,000 MW positions it as […] - [Why Google Pay Matters for Sri Lankan Businesses? Google Pay Sri Lanka 2025](https://lankabiznews.com/why-google-pay-matters-for-sri-lankan-businesses/): Sri Lanka’s digital payments landscape has reached a new milestone. Commercial Bank of Ceylon, in partnership with Visa, has enabled Google Pay for its Visa cardholders. This development allows customers to add their Commercial Bank Visa debit and credit cards to Google Pay and make secure, tokenised transactions across contactless NFC terminals, mobile apps, and online checkouts. For businesses, this is more than a convenience upgrade. It represents a strategic shift in consumer behaviour, transaction flows, and competitive positioning. In this analysis, we explore how Google Pay’s entry into Sri Lanka will reshape retail, e‑commerce, SMEs, and the broader economy and […] - [Sri Lanka’s Skills Gap: What Employers Need That Universities Still Don’t Teach](https://lankabiznews.com/sri-lanka-skills-gap-employers-vs-universities/): Sri Lanka’s job market is undergoing a fundamental transformation. Employers across industries from IT to manufacturing, banking, logistics, hospitality and even public administration are demanding a workforce equipped with modern, practical, industry-ready skills. Yet the country’s higher education system still lags behind, producing graduates who possess theoretical knowledge but lack the competencies that drive real-world performance. This widening skills gap is becoming one of Sri Lanka’s largest economic bottlenecks, affecting productivity, employability, foreign investment, and the country’s ability to compete regionally. As global industries adopt AI, automation and digital workflows, Sri Lanka’s traditional academic pathways simply cannot keep pace. This analysis […] - [How Young Sri Lankan Entrepreneurs Are Entering Global Export Markets Without Large Capital](https://lankabiznews.com/young-sri-lankan-entrepreneur-enter-global-export/): For decades, Sri Lanka’s export sector was dominated by large, well-established companies with strong capital reserves and international networks. But today, a new wave of young Sri Lankan entrepreneurs often in their early 20s and 30s are entering global markets with minimal investment, high digital literacy, and a stronger understanding of global consumer behaviour. Thanks to digital tools, low-cost logistics channels, freelancing ecosystems, and new government support programmes, Sri Lanka’s next generation is proving that you don’t need millions to become an exporter just skills, creativity, and access to the right platforms. This article explores how these young entrepreneurs are breaking […] - [Jeff Bezos Launches Project Prometheus: A $6.2 Billion Bet on AI-Powered Hardware Revolution](https://lankabiznews.com/jeff-bezos-launches-project-prometheus-ai-legacy/): Jeff Bezos, the billionaire founder of Amazon and Blue Origin, is making a dramatic return to the frontlines of technology leadership. After stepping away from day-to-day operations at Amazon in 2021, Bezos has now taken on the role of co-CEO at Project Prometheus, a bold new AI startup that has already secured an eye-watering $6.2 billion in funding. This isn’t just another AI company chasing chatbots or image generators, Project Prometheus is laser-focused on transforming engineering and manufacturing through advanced AI simulation tools. In an industry dominated by software giants like OpenAI and Anthropic, Bezos is steering his new venture toward […] - [Can Sri Lanka Become South Asia’s Repair-Refurbish Economy Leader? The USD 400B Circular-Tech Opportunity](https://lankabiznews.com/sri-lanka-economy-circular-tech-opportunity/): A global shift is underway in consumer electronics. Driven by affordability, sustainability, and regulatory pressure, refurbished and repairable devices are now one of the fastest-growing categories in the world. The global refurbished electronics market is expected to cross USD 400 billion within the next decade large enough to reshape manufacturing and supply chains. Sri Lanka, with its strong base of skilled technicians, competitive labour costs, and export-friendly location, is uniquely positioned to capture a share of this growth. Yet, the opportunity remains largely unexplored locally. This article examines whether Sri Lanka can develop a repair-refurbish circular-tech ecosystem, what advantages currently exist, […] - [Logistics 2.0: How Micro-Fulfilment Centres and Dark Stores Are Reinventing Sri Lanka’s E-Commerce](https://lankabiznews.com/micro-fulfilment-dark-stores-sri-lanka-ecommerce/): Sri Lanka’s e-commerce industry is often described as slow, stagnant, or lagging behind global markets. Yet, behind the scenes, a second-generation logistics shift is already unfolding, quietly but decisively. Major retailers, FMCG distributors, and on-demand delivery companies are adopting micro-fulfilment centres (MFCs) and dark stores to reduce last-mile cost, shorten delivery times, and survive in a high-inflation environment. This development signals a key transition: the country is moving from traditional warehouse-to-home delivery into Logistics 2.0, a model built for speed, efficiency, and inventory precision. This article examines how the shift is happening, which sectors are leading, and what it means for […] - [Sri Lanka’s Quiet BPO/Shared-Services Boom! Are We Becoming the Next Tier-2 Outsourcing Hub?](https://lankabiznews.com/sri-lanka-bpo-shared-services-boom-2025/): Sri Lanka’s business outsourcing industry is undergoing a transformation that isn’t fully visible in public conversation, but is increasingly obvious to investors, HR leaders, and regional corporates. While the spotlight traditionally falls on IT services, a quieter boom is taking place in Business Process Outsourcing (BPO), Knowledge Process Outsourcing (KPO), and shared-services operations. From regional headquarters to service-delivery extensions of GCC and South Asian corporates, Colombo is becoming a Tier-2 outsourcing hotspot for companies seeking cost efficiency, English fluency, and time-zone alignment, all without the salary inflation and operational saturation of India or the Philippines. This article analyses the emerging trend, […] - [Is Sri Lanka’s Low-Gravity Advantage the Next Big Opportunity for Space Ventures?](https://lankabiznews.com/sri-lanka-weak-gravity-advantage-to-space-venture/): Sri Lanka has long been known for its ports, highways, and strategic shipping routes. But a new idea is gaining traction among investors and technologists: can Sri Lanka position itself as a competitive launch and space-industry hub because of its low-gravity advantage? The conversation is no longer hypothetical. With the emergence of new private players like Space Ceylon and rising regional interest in commercial space technologies, the question now carries real business weight. Global capital is actively seeking emerging locations for small-satellite launches, ground-station networks, manufacturing bases, and R&D clusters. As the world moves into a commercial space economy projected to […] - [How Major Portfolio Transfers Are Reshaping Sri Lanka’s Foreign-Local Banking Landscape in 2025](https://lankabiznews.com/sri-lankas-foreign-local-banking-landscape-2025/): A Turning Point for the Banking Sector Sri Lanka’s banking and financial sector has entered a period of structural change. With multinational banks streamlining their portfolios and local institutions seeking scale, the industry is witnessing a shift that will redefine how customers, SMEs, and investors engage with the financial system. The latest move involving a leading international bank transferring its wealth and retail banking portfolio to a major domestic commercial bank, signals more than a business transaction. It marks a recalibration of the foreign–local banking balance in the country. This development highlights a global trend: international banks consolidating operations to focus […] - [Lower VAT Thresholds: What Sri Lanka’s Rs. 36 Million Cut Means for Businesses in 2026](https://lankabiznews.com/lower-vat-thresholds-sri-lanka-rs-36-million-cut/): A shift that expands the net Sri Lanka’s 2026 Budget introduces a decisive tax reform: the reduction of the Value Added Tax (VAT) and Social Security Contribution Levy (SSCL) registration thresholds from Rs. 60 million to Rs. 36 million per year. The change brings thousands of small and medium enterprises into the VAT regime. KPMG’s Head of Tax and Regulatory, Suresh Perera, called it a consequential shift for local businesses. The government avoided new taxes but widened the base. Perera noted that broader liability improves VAT effectiveness but accepted the move will be unpopular among smaller operators. Why the threshold matters […] - [ශ්‍රී ලංකාවේ 2026 අයවැය: නිර්භීත ආර්ථික මාර්ග සිතියමක් ද නැතහොත් ප්‍රවේශම් සහගත ශුභවාදී ආකල්පයක් ද?](https://lankabiznews.com/sri-lanka-budget-2026-economic-business-analysis/): රජයේ දෙවන ජාතික අයවැය සහ ව්‍යාපාර සහ ආර්ථික ප්‍රකෘතිය සඳහා එහි ඇඟවුම් පිළිබඳ ගැඹුරු විශ්ලේෂණයක් ශ්‍රී ලංකාවේ 2026 අයවැය තීරණාත්මක සන්ධිස්ථානයකට පැමිණේ, ආයෝජකයින්ගේ විශ්වාසය නැවත ගොඩනඟමින් සහ තිරසාර වර්ධනයක් කරා යන මාවතක් සකස් කරමින් එහි නරකම ආර්ථික අර්බුදයකින් ගොඩ ඒමට උත්සාහ කරන ජාතියකි. රජයේ දෙවන ජාතික අයවැය ණය ප්‍රතිව්‍යුහගත කිරීමේ සහ ව්‍යුහාත්මක ප්‍රතිසංස්කරණවල යථාර්ථය සමඟ පොරබදමින් ආර්ථික පරිවර්තනයක් පොරොන්දු වන අභිලාෂකාමී ඉලක්ක ඉදිරිපත් කරයි. නමුත් මෙම අයවැය ව්‍යාපාරවලට අවශ්‍ය විශ්වාසය ලබා දෙනවාද, නැතහොත් එය පිළිතුරු වලට වඩා ප්‍රශ්න මතු කරයිද? ආර්ථික ප්‍රකෘතිය: ආකර්ෂණීය සංඛ්‍යා, නමුත් තිරසාරද? අයවැය කතාව ආරම්භ වන්නේ ආකර්ෂණීය සාර්ව ආර්ථික ජයග්‍රහණ සමඟිනි. බහුපාර්ශ්වික අනාවැකි අභිබවා යමින් 2025 පළමු […] - [Gamma App's Meteoric Rise: $68 Million Raise at $2.1 Billion Valuation Ushers in AI's Visual Revolution - Insights for Global Tech Innovators](https://lankabiznews.com/gamma-app-meteoric-rise-68-million-raise/): In the ever-evolving landscape of artificial intelligence, few stories capture the imagination quite like that of Gamma App. Today, the San Francisco-based startup, which is reimagining how we create presentations and visual content, announced a staggering $68 million Series B funding round at a $2.1 billion valuation. Led by Andreessen Horowitz (a16z), this milestone not only underscores Gamma’s explosive growth surpassing $100 million in annual recurring revenue (ARR) while remaining profitable with just 50 employees but also signals a seismic shift in productivity tools. For entrepreneurs and innovators worldwide navigating the AI boom, Gamma’s journey offers a blueprint for leveraging cutting-edge […] - [Elon Musk’s Fiery Warning: Microsoft’s OpenAI Gamble Could Spell Doom](https://lankabiznews.com/elon-musk-fiery-warning-microsoft-openai/): In the high-stakes world of artificial intelligence, where billion-dollar bets and boardroom betrayals rival a tech thriller, Elon Musk has once again dropped a bombshell. The Tesla and SpaceX CEO recently issued a stark warning about Microsoft’s deep ties with OpenAI, calling it a potentially disastrous move for the software giant. This echoes his earlier forecast that OpenAI could ultimately overshadow Microsoft. As tensions escalate in the AI arms race, the fallout could reshape global tech landscapes, including opportunities and pitfalls for emerging markets like Sri Lanka. In this deep dive, we explore the drama, the stakes, and why Sri Lankan […] - [Sri Lanka’s Budget 2026: A Bold Economic Roadmap or Cautious Optimism?](https://lankabiznews.com/sri-lanka-budget-2026-business-economic-analysis/): An in-depth analysis of the government’s second national budget and its implications for business and economic recovery Sri Lanka’s Budget 2026 arrives at a critical juncture, a nation attempting to emerge from one of its worst economic crises while rebuilding investor confidence and charting a path toward sustainable growth. The government’s second national budget presents ambitious targets, promising economic transformation while grappling with the reality of debt restructuring and structural reforms. But does this budget deliver the confidence businesses need, or does it raise more questions than answers? Economic Recovery: Impressive Numbers, But Sustainable? The budget speech opens with impressive macroeconomic […] - [Sri Lanka’s Tourism Rise: Can Authentic Travel Unlock Business Growth?](https://lankabiznews.com/sri-lanka-tourism-travel-business-growth-2025/): Sri Lanka is back on the global tourism radar not just as a scenic escape, but as a rising star in Asia’s experience-driven travel economy. A recent feature in Travel and Tour World positions the island as a top destination for authentic adventures and simplified travel access. But beneath the headlines lies a deeper question: can this tourism momentum translate into sustainable business growth and investment? This article explores how Sri Lanka’s evolving tourism strategy is reshaping investor confidence, SME opportunities, and the future of travel-linked industries. From Scenic to Strategic: Tourism’s New Business Narrative Sri Lanka’s appeal has always been […] - [Fiscal Reform in Sri Lanka: Can Tax Policy Unlock Business Growth?](https://lankabiznews.com/can-sri-lanka-tax-policy-unlock-business-growth/): Sri Lanka’s economy, still rebuilding after its worst crisis in decades, faces a defining challenge, how to raise sustainable government revenue without crushing enterprise. The tax system sits at the centre of this balancing act. With IMF-backed fiscal reforms under way, the next two years will determine whether taxation becomes a platform for growth or a drag on recovery. A narrow base and heavy burden Sri Lanka’s tax-to-GDP ratio, at roughly 11–12 per cent, remains among the lowest in Asia. More than 80 per cent of state revenue comes from indirect taxes such as VAT, excise duties, and import levies. Direct […] - [Why Sri Lanka Mannar Wind Power Project Was Cancelled - And What Must Happen Next?](https://lankabiznews.com/sri-lanka-mannar-wind-power-project-was-cancelled/): Sri Lanka’s northern coast, especially the Mannar – Pooneryn belt, has long been hailed as one of South Asia’s best wind corridors. Studies by the Asian Development Bank and the Ceylon Electricity Board identified it as capable of powering nearly a quarter of the island’s electricity demand through clean energy. The winds are steady, the terrain ideal, and the need for renewable energy urgent. So when the government signed a power-purchase agreement in May 2024 with India’s Adani Green Energy Ltd to build two large wind power plants totalling 484 megawatts, it seemed like a breakthrough. The projects promised investment worth […] - [Unlocking the North: The Untapped Business Development Potential of Sri Lanka’s Northern Province](https://lankabiznews.com/business-development-sri-lanka-northern-province/): The Next Frontier of Growth After decades of recovery and rebuilding, Sri Lanka’s Northern Province stands at a turning point. The region, comprising Jaffna, Kilinochchi, Mannar, Mullaitivu, and Vavuniya, is gradually transforming from a post-conflict zone into a high-potential economic hub. Its proximity to India, vast land resources, cultural depth, and newly built infrastructure make it one of the most promising regions for business expansion in Sri Lanka. Today, policymakers, investors, and entrepreneurs are beginning to see the North not as a periphery but as a key driver of national growth. Why the North Matters The Northern Province commands strategic importance […] - [Navigating the Evolving Landscape of Environmental, Social, and Governance (ESG) Reporting in 2025](https://lankabiznews.com/environmental-social-governance-esg-reporting/): Environmental, Social, and Governance (ESG) reporting has transformed from a voluntary exercise into a cornerstone of corporate accountability. Businesses worldwide now disclose detailed insights into their sustainability practices, driven by regulatory mandates, investor demands, and stakeholder expectations. In 2025, ESG reporting stands at a pivotal juncture, with heightened transparency requirements reshaping how companies measure and communicate their impacts. This shift not only mitigates risks but also unlocks opportunities for long-term value creation in an era where sustainability directly influences financial performance. The global push for standardized disclosures reflects a broader recognition that ESG factors are material to business resilience. Reports now […] - [NVIDIA’s Historical Achievement $5 Trillion Milestone: When a Chip Maker Eclipses Nations](https://lankabiznews.com/nvidia-hits-5-trillion-surpassing-japans-gdp/): The artificial intelligence revolution has reached a stunning inflection point. On October 29, 2025, NVIDIA Corporation achieved what many deemed impossible just years ago a market valuation exceeding five trillion dollars, cementing its position as the world’s most valuable company while simultaneously surpassing the entire economic output of Japan, the world’s third-largest economy. The semiconductor giant’s ascent represents more than corporate success. It signals a fundamental shift in how markets value technological capability versus traditional economic measures. NVIDIA now commands a market capitalization that dwarfs Apple’s $3.5 trillion valuation and exceeds Japan’s projected annual GDP of $4.28 trillion, a comparison that […] - [Sri Lanka’s Property Tax Reform 2027: Why Digital Valuation Is the Key to Success?](https://lankabiznews.com/sri-lanka-property-tax-digital-overhaul-2025/): Sri Lanka’s property tax system is undergoing a long-overdue transformation. With the government committing to introduce a new property tax regime by 2027 under the International Monetary Fund’s Extended Fund Facility (EFF), the spotlight is now on the country’s outdated valuation methods and whether a digital overhaul can unlock the revenue, fairness, and efficiency the system desperately needs. A recent study by Verité Research has made one thing clear: without digitizing how properties are assessed, the proposed tax will remain ineffective, inequitable, and administratively unsustainable. This article breaks down the current challenges, the digital solutions being proposed, and what this means […] - [Dhammika Perera’s Banking Exit: Strategic Shift or Portfolio Diversification?](https://lankabiznews.com/dhammika-perera-banking-exit-portfolio-shift/): In October 2025, Dhammika Perera exited two of Sri Lanka’s most prominent banks Seylan Bank and Commercial Bankwithin days of each other. The timing, scale, and precision of these moves have sparked widespread speculation: is Perera stepping away from banking altogether, or is this part of a larger portfolio strategy? For years, Perera has been a dominant figure in Sri Lanka’s financial sector, holding stakes in multiple banks and influencing boardroom decisions. His recent exits, however, mark a clear departure from two institutions where he previously held minority positions. The question now is not just what he sold but what he’s […] - [Jaffna in Lonely Planet's 25 Best Destinations to Visit in 2026: A Strategic Business Opportunity for Sri Lanka’s North](https://lankabiznews.com/jaffna-lonely-planet-best-city-to-visit-in-2026/): A Global Platform for Jaffna’s Growth Jaffna’s designation as the #2 Best City to Visit in 2026 by Lonely Planet, announced at a high-profile Milan event on October 22, is a pivotal moment for Sri Lanka’s Northern Province. This global endorsement, part of Lonely Planet’s influential “Best in Travel” list, spotlights Jaffna’s Tamil heritage, from Nallur Kandaswamy Temple’s vibrant festivals to markets brimming with authentic cuisine. For businesses, this is a rare chance to tap into a 150-million-strong global audience, positioning Jaffna as a must-visit destination and driving sustainable economic growth in a post-conflict region. Tourism as an Economic Engine Tourism […] - [Is X the Number One News App on Digital Platforms in 2025?](https://lankabiznews.com/is-x-twitter-top-news-app-digital-platforms-2025/): In the fast-evolving landscape of digital news, the question of whether X (formerly Twitter) holds the top spot as the leading news app is both timely and complex. With its rebranding, strategic shifts, and a growing user base, X has positioned itself as a powerhouse for real-time information. However, the claim of being the “number one app for news” requires scrutiny, as it depends on how we define “news app” and “digital platforms.” This article explores X’s standing in the news ecosystem, its strengths, and its competition, drawing on app store rankings, user behavior, and broader digital trends as of October […] - [Apple iPhone 18 Pro Starlink: Satellite Internet Coming in 2026](https://lankabiznews.com/apple-iphone-18-starlink-satellite-internet-2026/): In a groundbreaking development that could reshape the future of mobile connectivity, Apple is reportedly in talks with Elon Musk’s SpaceX to integrate Starlink satellite internet into the highly anticipated iPhone 18 Pro, slated for release in 2026. This potential partnership, detailed in recent online discussions, suggests a significant shift from Apple’s current reliance on Globalstar for satellite-based emergency services. For Sri Lanka and the global tech community, this move promises to bring seamless 5G internet to even the most remote corners of the world, potentially revolutionizing how we stay connected. The Buzz Online: What’s Driving the Conversation? Recent online reports […] - [Central Bank Signals Stronger Than Expected Recovery 2025: Sri Lanka’s Fiscal Turnaround](https://lankabiznews.com/central-bank-sri-lanka-signals-stronger-recovery/): Sri Lanka’s economic recovery is gaining structural depth after years of fiscal stress, according to Central Bank Governor Dr Nandalal Weerasinghe. Presenting the Financial Stability Review 2025, he confirmed that key fiscal indicators revenue, primary surplus, and deficit have all exceeded expectations, marking the first significant fiscal outperformance in decades. Fiscal Discipline and Revenue Surge Dr Weerasinghe described the outcome as “a rare display of fiscal discipline that has strengthened debt dynamics.” Government revenue for 2025 is now projected to exceed 15.3 percent of GDP, driven by improved tax administration, import-related revenues, and a moderate revival in economic activity. He said […] - [Hayleys Enters Supermarket Competition: A Strategic Shift That Could Reshape Sri Lanka’s FMCG Landscape](https://lankabiznews.com/hayleys-enters-supermarket-competition-fmcg/): On October 22, 2025, Hayleys PLC announced its entry into Sri Lanka’s supermarket sector, unveiling plans to launch 100 outlets across the country. For a 148-year-old conglomerate known for its industrial and export strength, this move marks a significant shift toward consumer-facing retail. It also signals a broader recalibration of corporate strategy in Sri Lanka, especially when viewed alongside recent share market activity by Hayleys’ controlling shareholder, Dhammika Perera. This expansion is not simply about entering the grocery business It reflects a deliberate attempt to consolidate supply chains, deepen brand presence, and compete directly with established supermarket players such as Cargills, […] - [U.S. and Australia Forge Landmark Critical Minerals Deal to Counter China’s Dominance](https://lankabiznews.com/us-australia-forge-landmark-critical-mineral-deal/): A Strategic Move to Reshape Global Supply Chains In a significant move to reshape global supply chains and bolster strategic alliances, the United States and Australia have signed a landmark agreement on October 20, 2025, focusing on the joint development and processing of critical minerals and rare earths. Announced during a White House ceremony, the deal, spearheaded by U.S. President Donald J. Trump and Australian Prime Minister Anthony Albanese, aims to reduce the West’s dependence on China, which currently dominates the market for these essential resources. Valued at an ambitious $53 billion, the agreement marks a pivotal step in securing vital […] - [Starbucks’ $30B Lesson: Why Operational Experience Trumps Advisory Expertise](https://lankabiznews.com/starbucks-30b-lesson-operational-experience/): In the fast-paced world of global business, leadership decisions can make or break a company overnight. A recent saga at Starbucks offers a striking case study that resonates with entrepreneurs and business leaders everywhere including here in Sri Lanka, where emerging markets demand both innovation and execution. The move has sparked a conversation about the perils of appointing advisors to lead companies, a lesson underscored by a staggering $30 billion market cap swing. The Starbucks CEO Turnover: A $30B Pivot On August 13, 2024, Starbucks made headlines when it ousted its CEO, Laxman Narasimhan, after just 17 months. Narasimhan, a veteran […] - [The Digital Underworld Exposed: Europol’s Takedown of a SIM Farm Powering 49 Million Fake Accounts](https://lankabiznews.com/sim-farm-fake-accounts-is-takendown-by-europol/): In a world where our digital identities are as crucial as our physical ones, the recent Europol operation dubbed SIMCARTEL has peeled back the curtain on a shadowy corner of the internet. On October 17, 2025, European law enforcement agencies, in collaboration with counterparts in Latvia, Austria, and Estonia, dismantled a cybercrime network that was not just a threat to individual privacy but a ticking time bomb for global digital trust. This operation, which led to the arrest of seven suspects and the seizure of infrastructure supporting over 49 million fake accounts, is a stark reminder of how deeply entrenched and […] - [Banking in Sri Lanka Now: Rates Calm, Margins Tight, Execution Matters](https://lankabiznews.com/banking-in-sri-lanka-now-rates-calm-margins-tight/): Sri Lanka’s banks have moved out of emergency mode. Policy rates are steady. Inflation is low. Liquidity is easier. The story is no longer “will the system hold,” but “who protects margins while lending sensibly.” This is the state of play as of October 2025, plus what borrowers and investors should watch next. Rates and inflation: the noise has faded The Central Bank’s standing corridor is 7.25% (SDFR) and 8.25% (SLFR). These are the anchors for deposit and lending prices. With this corridor unchanged in recent months, repricing shocks have cooled. Inflation is low as well: the CCPI release shows year-on-year […] - [Major Amazon Web Services Outage: Snapchat, Canva, Fortnite and More Go Down](https://lankabiznews.com/amazon-web-services-outage-canva-and-more-go-down/): What Happened On October 20, 2025, a major outage at Amazon Web Services (AWS) disrupted access to some of the world’s most popular apps including Snapchat, Canva, Duolingo, Fortnite, and Roblox. The issue began around 8 a.m. UK time and quickly spread across regions, affecting millions of users globally. In Sri Lanka, users also felt the impact. Snapchat stopped loading messages and stories, Canva wouldn’t open, and gamers were locked out of Fortnite and Roblox. Even Duolingo crashed mid-lesson, leaving learners stuck. Why It Matters AWS is one of the biggest cloud service providers in the world. It powers everything from […] - [Hayleys takes strategic stake in Harischandra Mills](https://lankabiznews.com/hayleys-acquires-stake-harischandra-mills/): Hayleys has acquired a significant stake in Harischandra Mills, one of Sri Lanka’s most recognised consumer goods companies. The transaction, involving around 779,123 shares (approximately 40% of the company), triggered a surge in market activity and a sharp rise in the share price. This move represents a calculated strategic play into the consumer goods sector at a time when M&A activity is picking up, supported by a more stable interest rate environment. Why this move matters Harischandra Mills operates in the fast-moving consumer goods space. For Hayleys, this investment offers an immediate footprint in a stable, high-demand sector. It aligns with […] - [AI vs. Deloitte: What Sri Lankan Companies Must Learn from the $440,000 Deck](https://lankabiznews.com/sri-lankan-companies-must-learn-from-ai-deloitte/): AI vs. Deloitte | A recent LinkedIn post by global brand strategist Gustaf Wick has sparked a wave of reflection across the business world. In it, he recounts a consulting engagement worth $440,000 – delivered, approved, and celebrated that, in hindsight, was built entirely on assumptions. No customer interviews. No primary data. Just a polished strategy deck based on secondary sources and internal guesswork. The kicker? That same deck, Wick later realized, could now be generated by an AI tool in under ten minutes. This isn’t just a Deloitte story It’s a mirror held up to the entire consulting industry and […] - [Digital Payments Penetration in Sri Lanka: What Drives Adoption and Where the Growth will Come from](https://lankabiznews.com/digital-payments-penetration-in-sri-lanka/): Digital payments in Sri Lanka have moved from novelty to habit, yet penetration is uneven and fragile. The core story is simple: people adopt what is reliable, cheap, and visibly useful in daily life. When those three align, behaviour shifts and cash retreats. When they do not, cash wins. Over the last few years, QR acceptance, bank app upgrades, and merchant onboarding have created visible rails. Commuters scan codes at cafés, parents transfer school fees from phones, and micro-retailers accept wallet payments without POS terminals. The system works well enough to feel normal in cities. The harder question is whether this […] - [Ceylon Tea: Where the Brand Stands Now, and How It Got Here](https://lankabiznews.com/ceylon-tea-brand-history-current-position-2025/): For more than a century, “Ceylon tea” has signified a distinct idea in the global imagination: brisk brightness in the cup, clean aromatics from cool elevations, and a lion emblem that connotes origin and quality. The brand is unusual because it is both a geographic indication and a cultural shorthand built through plantations, auctions, and export routines that linked Sri Lanka to buyers in London, Hamburg, Moscow, and beyond. In 2025, that heritage remains recognisable, even as consumption patterns, retail formats, and buyer expectations have shifted. This analysis traces how the brand formed and how it presents today in world markets […] - [Gold’s Safe-Haven Surge in Sri Lanka: Pricing, Taxes, and The Rupee Effect](https://lankabiznews.com/gold-prices-taxes-and-rupee-effect-in-sri-lanka/): Gold is rallying and Sri Lanka feels it twice over. First through the global gold prices in dollars. Then through the rupee’s exchange rate. When both move together, local prices jump fast. This piece explains the mechanics that set rupee gold, how taxes and fees shape the final bill, who benefits, who hurts, and the actions that make sense for households and firms. How global moves translate into rupee prices Rupee gold is a simple multiplication with frictions. Start with the global price per troy ounce. Convert to dollars per gram. Multiply by the LKR/USD rate. Add import duties, VAT, other […] - [What Dhammika Perera’s Partial Exit from Commercial Bank Signals for the CSE](https://lankabiznews.com/dhammika-perera-partial-exit-from-commercial-bank/): Sri Lanka’s stock market just experienced one of its biggest block trades this year. Business leader Dhammika Perera sold part of his holding in Commercial Bank of Ceylon PLC for Rs. 5.5 billion.More than 26 million voting shares changed hands at Rs. 195 each through 39 negotiated crossings. In total, 29 million shares were traded, representing 43 % of the day’s Rs. 13.3 billion turnover. The share price closed at Rs. 203.25, up 3 % for the day. A Liquidity Surge in a Blue-Chip The sale was done at a slight discount to the closing price. That’s common when large blocks […] - [Sri Lanka’s Budget: What to Watch, What Might Change, and How It Could Affect You](https://lankabiznews.com/sri-lanka-budget-what-to-watch-what-might-change/): Sri Lanka’s next Budget will be judged on one thing above all: credibility. After a painful reset, investors, businesses, and households want fewer slogans and more execution. Revenue has to rise without crushing growth. Spending has to protect the vulnerable while shifting money into productive investment. Debt servicing must be funded on realistic assumptions, not hope. This preview sets out the likely themes, plausible policy moves, and the practical implications for companies and consumers. The backdrop in one page Growth has stabilised but is uneven across sectors. Tourism, IT-BPM, and selected exports are recovering; construction and discretionary retail remain soft. Interest […] - [World Bank Warns: Sri Lanka’s Fragile Recovery Hinges on Reform Momentum](https://lankabiznews.com/world-bank-warns-sri-lanka-reform-momentum/): Cautious optimism and a clear warning Sri Lanka’s economy may finally be on the mend, but the World Bank has warned that the recovery remains fragile and could easily falter without faster, deeper reform. In its latest Sri Lanka Development Update titled Better Spending for All, the World Bank projects the economy to grow by 4.6% in 2025, before easing slightly to 3.5% in 2026. The numbers show progress, but the tone of the report is unmistakably cautious. Stability, the Bank says, is not yet sustainability. At the Colombo launch of the report, World Bank Country Manager Gevorg Sargsyan praised the […] - [Sri Lanka’s Recovery Is Real. The Next Test Is Investment.](https://lankabiznews.com/sri-lanka-recovery-is-real-next-is-investment/): Sri Lanka’s economy has moved from crisis stabilisation to a sustained recovery. Growth has returned across multiple quarters, inflation has cooled, and confidence has improved in tourism, remittances, and domestic demand. The question now is whether Sri Lanka can convert this rebound into a durable expansion. The decisive variable is investment: enough of it, in the right sectors, under rules that investors trust. This piece maps where the recovery stands, what must happen next, and how firms and policymakers can turn momentum into long-term gains. What the recovery looks like The rebound is broadening. Services benefit from revived tourism and consumer […] - [When a Global Bank Exits Retail: What It Means for the Industry](https://lankabiznews.com/when-a-global-bank-exits-retail-what-it-means/): A foreign bank’s decision to exit a country’s retail franchise is rarely a one-off curiosity. It is a structural event that reshapes competition, pricing, customer behaviour, and regulatory priorities. The effects cascade from card networks and current-account balances to credit risk models and call-centre volumes. For domestic banks, it can be an accelerant: a sudden inflow of premium customers, low-cost deposits, and trained staff. For rivals, it triggers defensive pricing and product parity races. For policymakers, it becomes a live test of consumer protection and operational resilience. This piece outlines the mechanics, the risks, and the playbook for turning such an […] - [Status of Vehicle Imports into Sri Lanka (Q4 2025)](https://lankabiznews.com/status-of-vehicle-imports-into-sri-lanka-2025/): Executive summary Sri Lanka lifted the five-year vehicle imports suspension in February 2025. Imports are open under phased controls, tighter age and valuation rules, and compulsory LCs. A public Vehicle Verification Portal is live. Import spend in 2025 has risen sharply, led by personal vehicles. Policy signals point to continuity, but FX risk and enforcement remain watch points. Buyers should verify chassis data, confirm age eligibility, open LCs before shipment, and meet post-clearance deadlines. What changed in 2025 Historical context: 2020–2025 The suspension that began in 2020 reshaped the market. Pent-up demand accumulated as households postponed purchases, fleets aged, and parts […] - [IMF Review Scorecard: Where Sri Lanka Stands Now](https://lankabiznews.com/imf-review-scorecard-where-sri-lanka-stands-now/): The programme at a glance IMF Review Scorecard? Sri Lanka entered into a 48-month Extended Fund Facility in March 2023 for SDR 2.286bn (~US$3bn). The objectives: restore fiscal and debt sustainability, protect vulnerable groups, rebuild reserves, and support structural reforms to strengthen governance and boost growth. Disbursement timeline What the fourth review changed The IMF Board completed the Fourth Review on 1 July 2025. Key takeaways: Scorecard: targets and reforms 1) Fiscal consolidation Verdict: Yellow-Green. On track, but arrears discipline is critical. 2) Social protection The social-spending indicative target was missed earlier. Reforms are improving targeting, but authorities must ensure adequate […] - [AI and the Shifting Landscape of Tech Jobs: Accenture’s Layoffs Signal a Global Trend](https://lankabiznews.com/ai-and-the-shifting-landscape-of-tech-jobs/): Artificial Intelligence – AI | In a move that has sent shockwaves through the global tech industry, Accenture, one of the world’s leading consulting firms, announced on September 28, 2025, the layoff of 11,000 employees over the past three months. The company, which reported a robust 7% revenue increase to $69.7 billion in fiscal year 2025, attributed this seismic workforce reduction to its aggressive pivot toward artificial intelligence. As part of an $865 million restructuring initiative, Accenture is not only cutting jobs but also warning of further reductions for employees unable to reskilling for AI-driven roles. This development raises critical questions […] - [US State Department notes weak investor sentiment in Sri Lanka](https://lankabiznews.com/us-state-dep-notes-investor-sentiment-sri-lanka/): Investor conversations about Sri Lanka in late 2025 share a consistent theme: macro indicators are stabilising, yet confidence remains cautious. The U.S. State Department’s 2025 Investment Climate Statement (ICS) captures this mood in formal language that boardrooms recognise. It highlights continued hesitancy among foreign investors and points to several recurring frictions in the operating environment. The ICS is not a ratings action or a binding verdict, but it shapes how executives frame country risk and how investment committees pace decisions. What the statement is and why it matters The ICS is an annual country brief used by U.S. and international firms […] - [How Is Sri Lanka Supporting the Nearly 10,000 Tourists Stranded by the Middle East Crisis?](https://lankabiznews.com/sri-lanka-supporting-the-tourists-stranded/): In our first article two weeks ago we examined how rural tourism can create deeper, more inclusive economic benefits for Sri Lanka. Last week we analysed the serious threat posed by the escalating Middle East conflict to the country’s 2026 tourism targets through disrupted aviation links via Dubai and other Gulf hubs. This week we bring the latest verified updates on the situation facing international visitors currently in Sri Lanka, with a clear focus on the practical steps the government, SLTDA and hospitality sector are taking to support those affected. As of 9 March 2026, Sri Lanka remains completely safe and […] - [Sri Lanka Opportunity Fund: A Regulated European Gateway to Sri Lanka’s Growth Story](https://lankabiznews.com/sri-lanka-opportunity-fund/): Sri Lanka has taken a significant step forward in rebuilding international investor confidence with the launch of the Sri Lanka Opportunity Fund on 25 February 2026. This marks the country’s first and only European-regulated UCITS investment fund dedicated exclusively to Sri Lankan assets, offering global investors a secure, transparent, and professionally managed route to participate in the nation’s economic recovery and long-term potential. Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe has described the fund as “a landmark initiative that strengthens international confidence in Sri Lanka’s capital markets.” He emphasised that the fund provides a structured, regulated vehicle for investors […] - [Did the US Attack on an Iranian Vessel in Sri Lanka’s EEZ Put Investment Confidence at Risk?](https://lankabiznews.com/us-attack-on-an-iranian-vessel-in-sri-lanka-eez/): Iranian vessel presence in Sri Lanka’s Exclusive Economic Zone (EEZ) has become the focus of regional attention after a reported US submarine strike on 4th of March 2026. The episode occurs as Sri Lanka pursues stronger investment inflows following a 72% increase in foreign direct investment to USD 1.057 billion in 2025. On 4 March 2026, an Iranian naval frigate, IRIS Dena, sank following an incident approximately 40–44 nautical miles off Galle in Sri Lanka’s EEZ. Sri Lanka Navy coordinated search-and-rescue operations in its designated region, recovering bodies and assisting survivors. On 5 March, a second Iranian vessel was reported within […] - [SEC Publishes Children’s Storybook to Promote Financial Literacy](https://lankabiznews.com/sec-to-promote-financial-literacy-among-children/): The Securities and Exchange Commission of Sri Lanka (SEC) published a children’s storybook titled “Madura’s Bamboo Flute Dream” in all three languages, aimed at promoting financial literacy among secondary school students. This initiative forms part of the SEC’s ongoing efforts to enhance financial literacy and encourage an entrepreneurial mindset among young learners. Last week Senior Prof. D.B.P.H. Dissabandara, Chairman, SEC, presented the publication to Hon. (Dr.) Harini Amarasuriya, Prime Minister and Minister of Education, Higher Education, and Vocational Education. The book, authored by Deshamanya Dr. Indira Lilamani Ginige and illustrated by Ms. Janakie Sooryarachchi, has been designed as an engaging and […] - [Middle East Tensions March 2026: Business Risks and Economic Implications for Sri Lanka’s Remittance-Dependent Economy](https://lankabiznews.com/middle-east-tensions-business-and-economic-risks/): Sri Lanka’s economy continues to rely heavily on overseas employment as a key source of foreign exchange and household income. With escalating conflict in the Middle East in early March 2026, businesses, banks, remittance service providers, and policymakers are closely monitoring potential disruptions to the country’s largest migrant worker corridor. As of 28 February 2026, official data shows 1,007,855 Sri Lankans residing across 14 Middle Eastern nations. The largest concentrations are in the UAE (350,000), Saudi Arabia (246,139), Kuwait (175,000), and Qatar (140,000). These workers, primarily in construction, domestic service, hospitality, and healthcare, generated a record USD 8.076 billion in remittances […] - [How Is the Middle East Conflict Affecting Sri Lanka’s 2026 Tourism Targets?](https://lankabiznews.com/middle-east-conflict-and-sri-lanka-tourism-target/): Last week we examined how rural tourism can deliver deeper, more inclusive economic benefits to Sri Lanka. This week, a sudden global shock demands urgent attention: the escalating conflict in the Middle East has disrupted one of the island’s most critical aviation gateways. With Dubai serving as the “primary transit hub” for a significant share of international visitors, the airspace closures and flight cancellations since late February 2026 are already triggering booking losses and threatening momentum toward the national target of 3 million tourist arrivals this year. Sri Lanka’s tourism sector recorded a record 2.36 million arrivals in 2025, generating approximately […] - [Sri Lanka Weekly Economic Indicators February 2026: Sustained Stability with Encouraging Signals](https://lankabiznews.com/sri-lanka-weekly-economic-indicators-february/): The Central Bank of Sri Lanka (CBSL) released its latest Weekly Economic Indicators on 27 February 2026, providing a comprehensive snapshot of the country’s economic performance up to the end of the previous week. The report highlights continued moderation in inflation, a narrowing merchandise trade deficit, stable gross official reserves, and a resilient real sector, particularly in construction activity. These developments reflect the ongoing consolidation of macroeconomic stability as Sri Lanka advances through early 2026. This professional analysis examines the key data points from the official CBSL report, focusing on verified figures and trends without external assumptions. The indicators point to […] - [Sri Lanka’s External Sector Records Strong Performance in January 2026](https://lankabiznews.com/sri-lanka-external-sector-performance-january/): The Central Bank of Sri Lanka (CBSL) released its External Sector Performance report for January 2026 on 27 February 2026, highlighting continued improvement in the country’s external accounts. The current account recorded a substantially larger surplus, the merchandise trade deficit narrowed, and workers’ remittances posted robust growth. These developments reflect a solid start to the year and build on the positive outcomes achieved throughout 2025. This analysis presents the key figures and trends directly from the official CBSL report, offering a clear picture of Sri Lanka’s external sector dynamics in the first month of 2026. Also in Explained | Sri Lanka’s Outward Business […] - [What is Rural Tourism and How Can Sri Lanka Improve It for Greater Impact?](https://lankabiznews.com/what-is-rural-tourism/): Sri Lanka’s tourism sector continues its strong recovery, with approximately 2.36 million international arrivals in 2025 generating around US$3.22 billion in revenue. While beach resorts and cultural heritage sites in the Western, Southern, and Central provinces remain primary draws, a growing opportunity lies in rural tourism a segment that can spread economic benefits far beyond traditional hotspots. This first article in our series on tourism strategies for Sri Lanka examines the definition, current status, and practical ways to amplify the sector’s impact on local communities, job creation, and sustainable development, rather than focusing solely on attracting high-spending visitors. Rural tourism offers […] - [Sri Lanka’s Outward Business Expansion: Balancing Risks and Rewards for the National Economy – February 2026 Analysis](https://lankabiznews.com/sri-lanka-outward-business-expansion/): Sri Lanka’s economy demonstrated strong resilience throughout 2025 and early 2026, recording foreign direct investment inflows of USD 1.06 billion in 2025, a 72% increase from the previous year while gross official reserves stabilised above USD 6 billion, reaching USD 6.8 billion by the end of December 2025. Against this backdrop, a clear trend has emerged – many prominent business groups and high-net-worth entrepreneurs are expanding investments and operations beyond national borders, particularly into the UAE, India, Singapore, and other Southeast Asian markets. This outward movement is not a full-scale relocation of headquarters but rather strategic diversification. It reflects both the […] - [MAS Holdings’ Strategic Repurposing of the Methliya Plant: A Case Study in Adaptive Business Transformation](https://lankabiznews.com/mas-holdings-strategic-business-transformation/): In February 2026, MAS Holdings, a leading player in Sri Lanka’s apparel and textile sector, announced a significant operational shift at its Methliya facility located within the MAS Fabric Park in the Thulhiriya industrial zone. Following the announcement communicated to employees on 19 February 2026, the company will cease garment manufacturing operations at the plant and repurpose the site to enhance its knitting, dyeing, and finishing capabilities. This move forms part of a broader effort to strengthen fabric manufacturing amid ongoing challenges in the global apparel market. The decision affects approximately 2,200 employees at the Methliya plant. Production previously handled at […] - [What Challenges and Opportunities Exist for Investors in Sri Lanka's Real Estate Sector Today?](https://lankabiznews.com/challenges-and-opportunities-exist-for-investors/): In the previous article, we examined the strategic approaches employed by major companies in Sri Lanka’s real estate transactions, encompassing phased execution, targeted investor engagement, and premium-segment positioning amid the sustained recovery observed in early 2026. These methodologies underscore a market environment that harbours substantial potential while presenting distinct operational and structural complexities. As of February 23, 2026, the sector demonstrates continued post-crisis stabilisation, evidenced by selective price appreciation, resilient tourism-driven demand, and measured investor sentiment. Investors encounter a multifaceted landscape: meaningful upside in tourism-oriented, suburban, and incentivised developments alongside constraints that necessitate rigorous due diligence and strategic calibration. Drawing upon […] - [SEC and SLAASMB Forge Strategic Alliance to Strengthen Financial Reporting and Governance](https://lankabiznews.com/sec-and-slaasmb-forge-strategic-alliance/): The Securities and Exchange Commission of Sri Lanka (SEC) and the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) enhanced cooperation in the oversight of financial reporting and auditing standards by signing a Memorandum of Understanding (MOU) recently. The MOU was signed by Senior Prof. D.B.P.H. Dissabandara, Chairman of the SEC, and Mrs. K.M.A.N. Daulagala, Chairperson of the SLAASMB. The agreement establishes a formal framework for collaboration between the two institutions in relation to Entities licensed under the SEC Act to operate a stock exchange, to carry on business as stock brokers and stock dealers, unit trusts, fund management companies […] - [How Elon Musk's Early Faith in OpenAI Sparked a Decade-Long NVIDIA Partnership and Why It's Stronger Than Ever](https://lankabiznews.com/elon-musk-and-decade-long-nvidia-partnership/): In a recent interview clip that resurfaced in February 2026, NVIDIA CEO Jensen Huang shared a captivating anecdote from the dawn of modern AI: Elon Musk, through the fledgling OpenAI, became the very first customer for NVIDIA’s groundbreaking DGX-1 AI supercomputer in 2016. At a time when no one else placed an order for the revolutionary system, Musk’s belief in AI’s potential aligned with OpenAI’s original mission as an open-source, non-profit research initiative led Huang to personally deliver the unit to a modest San Francisco office housing a small team of pioneers, including Ilya Sutskever and Pieter Abbeel. This story highlights […] - [What Strategic Approaches Do Major Companies Use in Sri Lanka's Real Estate Deals?](https://lankabiznews.com/strategic-approaches-in-sri-lanka-real-estate/): Strategies often involve phased rollouts to manage financial exposure, active investor outreach to diversify funding sources, and a focus on high-value segments that align with tourism resurgence and expatriate demand. This article explores these approaches through anonymized examples of real-world tactics, drawing on recent developments up to mid-February 2026. The discussion remains balanced, highlighting successes alongside the challenges of execution in a competitive environment. In the previous article, we examined how large-scale developments integrate tourism and commercial real estate through thoughtful zoning, hospitality anchors, and seamless linkages, as seen in progressing waterfront initiatives. These projects do not succeed by chance; major […] - [The Russian Ambassador to Sri Lanka - Foreign Investors' Interest in Sri Lanka Stymied by Lack of Specific, Ready Projects](https://lankabiznews.com/where-to-invest-russian-ambassador-to-sri-lanka/): The Russian Ambassador to Sri Lanka, Levan Dzhagaryan, recently voiced a sentiment echoing among potential foreign investors: “Where to invest?” and “We’re ready to invest, but no projects.” This candid remark highlights a persistent challenge for Sri Lanka’s investment promotion efforts, strong interest from abroad often meets frustration due to the absence of clearly defined, bankable opportunities. While the country has hosted numerous high-profile investor forums and showcased flagship projects in recent years, many prospective partners report difficulty accessing detailed, actionable information. This gap contributes to Sri Lanka lagging in attracting new foreign direct investment (FDI), despite positive macroeconomic signals and […] - [Is the 2026 AI-Driven Memory Chip Crisis Making Everyday Gadgets Unaffordable?](https://lankabiznews.com/the-2026-ai-driven-memory-chip-crisis/): In early 2026, a severe global shortage of DRAM and related memory chips has emerged as one of the biggest challenges facing the consumer electronics industry. Driven primarily by explosive demand for High Bandwidth Memory (HBM) from AI data centers, manufacturers like Samsung, SK Hynix, and Micron are prioritizing high-margin AI components over standard DRAM used in smartphones, laptops, PCs, and gaming consoles. Reports from Bloomberg, TrendForce, and IDC highlight DRAM contract prices surging 90-95% quarter-over-quarter in Q1 2026 alone, the largest quarterly jump on record while overall supply growth lags far behind demand. This structural shift, often dubbed the “memory […] - [How Do Large-Scale Developments in Sri Lanka Integrate Tourism and Commercial Real Estate?](https://lankabiznews.com/large-scale-developments-integrate-real-estate/): In the previous article, we explored major real estate projects attracting significant foreign capital, with a focus on the waterfront special economic zone and other integrated initiatives. These developments stand out not only for their scale but also for their deliberate blending of tourism, commercial, and residential components. As Sri Lanka’s economy continues to stabilize in early 2026, large-scale projects are increasingly designed as mixed-use ecosystems, where hospitality elements draw visitors, commercial spaces foster business activity, and residential offerings provide long-term living options. This integration enhances overall appeal, creates diversified revenue streams, and supports broader economic goals like increased tourist spending […] - [Event-Based Tourism in Sri Lanka: The India-Pakistan T20 Clash Sets a New Benchmark](https://lankabiznews.com/event-based-tourism-in-sri-lanka/): Sri Lanka has long been celebrated for its natural beauty, cultural heritage, and warm hospitality, attracting millions of tourists annually. In recent years, event-based tourism has emerged as a powerful driver for the sector, bringing sudden surges in visitor numbers, foreign exchange earnings, and local business opportunities. The ICC Men’s T20 World Cup 2026 match between India and Pakistan, held on February 15 at the R. Premadasa Stadium in Colombo, exemplified this potential perfectly. This high-profile encounter not only drew global attention but also showcased Sri Lanka’s capability to host major international events seamlessly, boosting the economy and enhancing the country’s […] - [Sri Lanka's Retail Sector Witnesses Robust Expansion into Urban and Suburban Areas in 2025/26](https://lankabiznews.com/sri-lanka-retail-sector-witness-robust-expansion/): Sri Lanka’s retail landscape is undergoing a transformative phase in 2025/26, with modern supermarkets and branded outlets rapidly expanding beyond traditional urban centers into suburban and semi-urban areas. This proliferation reflects recovering consumer confidence, rising disposable incomes, and a shift toward organized retail formats offering convenience, variety, and quality assurance. As economic stabilization takes hold, supermarkets once concentrated in major cities are now a common sight in growing neighborhoods, catering to evolving lifestyles and supporting broader FMCG distribution. Recent developments underscore this momentum, with diversified conglomerates announcing ambitious plans to establish large-scale supermarket networks targeting both urban hubs and suburban localities. […] - [Understanding Fixed Income](https://lankabiznews.com/understanding-fixed-income/): Understanding Fixed Income, authored by Keshawa Perera, CFA | This article is part of a collaborative series by the CFA Society Sri Lanka, Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) which aims to enhance financial literacy and empower individuals with the knowledge and tools to make informed financial decisions and build long-term financial security. This week, we present the third article from our series – Understanding Fixed Income, authored by Keshawa Perera, CFA. Fixed income investments, commonly known as bonds, provide regular interest payments and return your original investment at the end of a […] - [Is OpenAI's Hiring of OpenClaw Creator Peter Steinberger a Major Win for AI Agents?](https://lankabiznews.com/openai-hired-openclaw-creator-peter-steinberger/): In a significant move announced on February 15, 2026, OpenAI CEO Sam Altman revealed that Peter Steinberger, the innovative developer behind the viral open-source AI agent OpenClaw, is joining the company. Steinberger will lead efforts to develop the next generation of personal AI agents, with Altman describing him as “a genius with a lot of amazing ideas about the future of very smart agents interacting with each other to do very useful things for people.” Additionally, OpenClaw previously known as Clawdbot and Moltbot will transition to an independent foundation as an open-source project, with ongoing support from OpenAI. This development underscores […] - [Sri Lanka's FMCG Sector Embraces Health and Sustainability Trends: Fueling Premium Growth in 2025/26](https://lankabiznews.com/fmcg-sector-embraces-health-and-sustainability/): Sri Lanka’s Fast-Moving Consumer Goods (FMCG) market is experiencing a notable evolution in 2025/26, with increasing consumer emphasis on health-focused and sustainable products driving sector expansion. Building on economic stabilization and digital advancements, this shift reflects global wellness trends adapted to local preferences, where natural, organic, and eco-friendly options are gaining traction. Value sales in consumer health categories rose in 2025, supported by heightened health awareness and a growing interest in preventive wellness. As consumers prioritize products that align with healthier lifestyles and environmental responsibility, FMCG players are innovating to meet demand. This transition not only supports volume growth but enables […] - [Which Major Real Estate Projects in Sri Lanka Have Attracted Significant Foreign Capital?](https://lankabiznews.com/major-real-estate-projects-in-sri-lanka/): In the previous article, we examined the key regulations guiding foreign investors in Sri Lanka’s real estate market, including restrictions on land ownership, opportunities in condominiums, and incentives in special economic zones. These frameworks have enabled significant foreign capital inflows into large-scale developments, particularly those aligned with tourism, urban renewal, and economic diversification. As the market gains momentum in early 2026, several ambitious projects stand out for their scale, international backing, and potential to transform the landscape. These initiatives often feature mixed-use designs incorporating residential, commercial, hospitality, and leisure elements, attracting diverse global investors. Drawing on recent official updates and investment […] - [Vehicle Prices in Sri Lanka Likely to Rise from April 1, 2026: VIASL Issues Key Warning](https://lankabiznews.com/vehicle-prices-in-sri-lanka-likely-to-rise-viasl/): The Vehicle Importers Association of Sri Lanka (VIASL) has issued a timely alert to potential buyers and the automotive sector, stating that vehicle prices are expected to increase starting from April 1, 2026. This anticipated rise stems directly from adjustments in the 2026 Budget concerning the Social Security Contribution Levy (SSCL). As the market continues to adjust following the post-2025 import surge, this development adds a new layer of consideration for those planning to purchase imported vehicles in the coming months. The warning highlights a shift in how the 2.5% SSCL is applied to vehicle imports. Previously structured differently, the levy […] - [Panic Buying Returns to Sri Lanka's Vehicle Market: What's Driving the February 2026 Rush for Japanese Imports?](https://lankabiznews.com/the-february-2026-rush-for-japanese-imports/): As of February 13, 2026, Sri Lanka’s automotive sector is witnessing a sudden resurgence in demand, with reports of panic buying sweeping through showrooms and importer yards. Just when the market appeared to be stabilizing after the 2025 import boom, rising prices at Japanese vehicle auctions have triggered a fresh wave of urgency among buyers. The Vehicle Importers’ Association of Sri Lanka (VIASL) has highlighted this surge, noting increased inquiries and bookings for popular Japanese used models amid fears of imminent price hikes. This development comes after a period of relative calm in early 2026, where prices for many imported vehicles […] - [Valentine's Day 2026: How Businesses Capitalize on the Season of Love and Gen Z Trends](https://lankabiznews.com/valentines-day-businesses-on-the-season-of-love/): Valentine’s Day, celebrated every February 14, is more than a romantic holiday, it’s a major economic event that drives significant revenue for businesses worldwide. In 2026, global consumer spending on Valentine’s Day gifts, experiences, and celebrations is reaching new heights, with U.S. shoppers alone projected to spend a record $29.1 billion. This represents a notable increase from $27.5 billion in 2025, highlighting the holiday’s growing commercial appeal. For retailers, florists, restaurants, and online platforms, Valentine’s Day offers a prime opportunity to boost sales through targeted marketing and seasonal offerings. This article explores how businesses traditionally benefit from Valentine’s Day, how Gen […] - [What Are the Key Regulations for Foreign Investors in Sri Lanka's Real Estate Market?](https://lankabiznews.com/key-regulations-for-foreign-investor-in-sri-lanka/): What Are the Key Regulations for Foreign Investors in Sri Lanka’s Real Estate Market? | In the previous article, we discussed how tourism-related real estate projects attract international visitors through high-quality facilities and draw investors with rental income potential and capital growth. Many such developments involve foreign capital, particularly in mixed-use and condominium segments. This naturally leads to questions about the regulatory framework governing foreign participation in Sri Lanka’s real estate market. As the sector continues to recover and expand in early 2026, understanding these rules is essential for prospective investors. Sri Lanka maintains a balanced approach: encouraging foreign investment in […] - [Sri Lanka's FMCG Market Shows Steady Growth in 2025/26: Driven by Digital Adoption and Economic Stability](https://lankabiznews.com/fmcg-market-shows-steady-growth-in-2025-26/): Sri Lanka’s Fast-Moving Consumer Goods (FMCG) sector is displaying encouraging signs of growth during the 2025/26 financial year, bolstered by economic stabilization, moderated inflation, and rapid digital transformation. Leading retailers have reported robust third-quarter results, indicating sustained consumer demand recovery. With low inflation supporting real incomes and digital innovations reaching even small retail outlets, the market is transitioning toward volume-based expansion, opening avenues for manufacturers, distributors, and investors in daily essentials. Developments from December 2025 through early February 2026 point to key catalysts: rising online shopping penetration and the widespread integration of card and digital payment options in neighborhood stores. These […] - [How Do Tourism-Related Real Estate Projects Attract International Visitors and Investors?](https://lankabiznews.com/tourism-related-real-estate-projects/): In the previous article, we explored why tourism is driving real estate investment in Sri Lanka, emphasizing record visitor arrivals in 2025 and early 2026, along with their spillover into hospitality-linked properties. Building on that, this piece examines the specific ways tourism-related real estate projects draw in international visitors as guests and attract investors seeking returns. These developments often mixed-use complexes blending residential, hotel, retail, and leisure components serve dual purposes: providing high-quality experiences that encourage longer stays and repeat visits from tourists, while offering ownership opportunities with income potential. As Sri Lanka’s tourism sector maintains strong momentum into February 2026, […] - [Sri Lanka Initiates Stakeholder Consultations on Tariff Reforms: A Step Toward Export-Led Growth and Industrial Competitiveness](https://lankabiznews.com/stakeholder-consultations-on-tariff-reforms/): Sri Lanka has officially begun stakeholder engagement on proposed tariff reforms as part of the 2026 Budget proposals, marking a significant move to reshape the nation’s production economy and enhance export performance. The initiative, announced through a consultative programme on February 10 at the Galle Face Hotel, focuses on introducing a simplified Four-Band Tariff Policy designed to promote domestic value addition, improve competitiveness, and ensure long-term fiscal sustainability. Led jointly by the Ministry of Finance, Planning and Economic Development and the Ministry of Industry and Entrepreneurship Development, in collaboration with the World Bank and other institutions, this reform addresses longstanding issues […] - [Sri Lanka Set to Introduce Three Key Laws in Early 2026 to Attract Private Capital and Drive Sustainable Growth](https://lankabiznews.com/key-laws-in-early-2026-to-attract-private-capital/): Sri Lanka is preparing to table three significant new laws in the first quarter of 2026 aimed at de-risking private capital inflows and creating a more predictable environment for investors. Senior Economic Adviser to the President, Duminda Hulangamuwa, announced these initiatives during his address at the inaugural Lanka Impact Investment Summit 2026. The proposed legislation focuses on investment protection, public-private partnerships, and State-owned enterprise reforms, signaling the government’s commitment to policy-led growth beyond the natural economic expansion of 4-5%. These reforms come at a time when Sri Lanka has demonstrated strong fiscal discipline, achieving a primary surplus of 3.9% of GDP […] - [Sri Lanka's Foreign Exchange Reserves: Resilience Persists into 2026 with Slight January Dip](https://lankabiznews.com/sri-lanka-foreign-exchange-reserves-january-2026/): Sri Lanka’s gross official reserves reached a significant milestone by the end of 2025, climbing to approximately USD 6.8 billion. This level marks one of the highest points since the economic crisis, offering vital coverage for imports and external payments. Entering 2026, reserves experienced a minor adjustment, settling at USD 6.68 billion by the end of January. This small decline reflects normal fluctuations in foreign currency flows rather than major concerns. The Central Bank of Sri Lanka plays a key role in managing these reserves through market interventions, remittances, tourism earnings, and export proceeds. As the country advances in debt restructuring […] - [Why Is Tourism Driving Real Estate Investment in Sri Lanka?](https://lankabiznews.com/tourism-driving-real-estate-investment-sri-lanka/): In the previous article, we examined how Sri Lanka’s real estate market recovered from the 2022 economic challenges, with notable gains in property prices, sales volumes, and suburban expansion by 2025 and into early 2026. A key element fueling this rebound has been the strong resurgence in tourism. As visitor numbers climb to record levels, they create direct and indirect demand for properties tied to hospitality, leisure, and second-home ownership. This article delves into why tourism has become such a powerful driver for real estate investment, exploring the mechanisms, market segments most affected, and the broader economic implications in a balanced […] - [Sri Lanka's Tourism Sector - Record Arrivals Mask Earnings Shortfall in January 2026](https://lankabiznews.com/sri-lanka-tourism-earnings-shortfall-in-jan-2026/): Sri Lanka’s tourism industry kicked off 2026 with an impressive surge in visitor numbers, achieving an all-time high for January with over 277,000 arrivals. However, this milestone was overshadowed by a noticeable drop in foreign exchange inflows from the sector, which fell short of expectations despite the influx of travelers. This paradox underscores ongoing challenges in maximizing revenue per tourist, even as the country works to rebuild its appeal as a premier destination following years of disruptions. The tourism segment remains a cornerstone of Sri Lanka’s economy, contributing significantly to job creation, foreign currency reserves, and overall growth. With ambitious goals […] - [Sri Lanka's Digital Nomad Visa: Unlocking Opportunities for Remote Professionals](https://lankabiznews.com/sri-lanka-digital-nomad-visa-explain/): In an era where remote work has become a global norm, Sri Lanka has positioned itself as an attractive destination for digital nomads seeking a blend of tropical allure, cultural richness, and affordable living. The introduction of the Digital Nomad Visa (DNV) represents a strategic move by the government to draw in foreign talent, boost tourism spending, and foster international knowledge sharing. This visa category allows professionals to reside and operate remotely in the island nation while serving overseas clients or employers, without engaging in local job markets. Launched to capitalize on the post-pandemic shift toward flexible lifestyles, the DNV caters […] - [How Has Sri Lanka's Real Estate Market Recovered Since the Economic Challenges?](https://lankabiznews.com/how-has-sri-lanka-real-estate-market-recovered/): In our previous article, we explored the current state of Sri Lanka’s real estate market in early 2026, highlighting steady price appreciation, tourism-driven demand, and ongoing affordability concerns. Building on that overview, this piece examines the recovery trajectory since the severe economic crisis of 2022. The crisis brought the sector to a near standstill, with stalled projects and declining transactions, but subsequent years have marked a gradual yet resilient rebound. By 2026, the market shows clear signs of stabilization and growth, supported by macroeconomic improvements and renewed investor interest. The path has not been uniform central urban areas have seen moderated […] - [Why Has SpaceX Shifted Priority to Moon Ahead of Mars And What Are the Strategic Implications?](https://lankabiznews.com/spacex-shifted-priority-to-moon-ahead-of-mars/): On February 8, 2026, Elon Musk published a comprehensive update on X outlining a significant adjustment in SpaceX’s long-term objectives: the company is now prioritizing the establishment of a self-sustaining, expanding city on the Moon, with Mars development positioned as a subsequent phase. Musk explained that lunar missions offer superior opportunities for rapid iteration launch windows every 10 days and transit times of approximately two days compared to Mars’ 26-month synodic period and six-month journeys. While the ultimate goal of making humanity multi-planetary remains unchanged, Musk argued that the Moon provides the fastest viable path to an off-world civilization capable of […] - [ElevenLabs Hits $11B Valuation with $500M Raise: Why Voice AI Could Redefine How We Interact with Technology](https://lankabiznews.com/elevenlabs-hits-11b-valuation-with-500m-raise/): In early February 2026, AI voice synthesis leader ElevenLabs made headlines with a massive $500 million Series D funding round, propelling its valuation to an eye-watering $11 billion. The announcement, spotlighted in a CNBC interview with co-founder Mati Staniszewski, underscores the explosive momentum in voice AI. A LinkedIn post from the company’s official account thanked CNBC for hosting Staniszewski, where he discussed the fundraise and the transformative potential of voice agents as the next major interface for knowledge access and support. Founded just four years ago in 2022 by Staniszewski and Piotr Dabkowski, ElevenLabs has evolved from a text-to-speech innovator into […] - [What Is the Current State of Sri Lanka's Real Estate Market in 2026?](https://lankabiznews.com/current-state-of-sri-lanka-real-estate-market/): As Sri Lanka steps into 2026, many potential buyers, investors, and industry observers are asking about the health of the real estate sector. After navigating a severe economic crisis in 2022 and a gradual stabilization period, the market has shown clear signs of recovery in recent years. By early 2026, property prices continue to rise, construction activity has resumed in key areas, and investor confidence is returning, supported by macroeconomic improvements and a strong rebound in tourism. The Central Bank of Sri Lanka (CBSL) data through late 2025 indicates sustained upward momentum in property values, particularly in the Colombo District, which […] - [Sri Lanka's Provincial GDP Disparities: Addressing Disparities in Lower-Performing Regions](https://lankabiznews.com/sri-lanka-provincial-gdp-disparities/): Summary: Sri Lanka’s provincial economies display notable variations in contributions to national GDP, with the Western Province dominating at 42.4% of nominal GDP in 2024, according to Central Bank of Sri Lanka data. Other provinces contribute significantly less, highlighting the need for targeted strategies to uplift lower-performing regions and achieve more balanced national growth. Provinces such as Eastern, Uva, Northern, and North Central collectively account for smaller shares, often relying on agriculture and primary sectors rather than high-value industry or services. Developing these areas through tourism, fisheries, agro-processing, and infrastructure could create local jobs, reduce migration, and enhance overall economic contributions. […] - [Sri Lanka's Arts and Crafts Sector: Unlocking Tourism Potential and Economic Growth Through Traditional Excellence](https://lankabiznews.com/sri-lanka-arts-and-crafts-the-tourism-potential/): Summary: Sri Lanka’s rich tradition in arts and crafts, particularly pottery and ceramics, represents an untapped opportunity to enhance tourism experiences and drive economic value. With tourism revenue reaching approximately $3.2 billion in 2025 from over 2.36 million visitors, integrating authentic local handicrafts into the visitor journey can boost spending on souvenirs while encouraging domestic preference for homegrown products over imports. The sector’s natural strengths abundant raw materials like kaolin and clay, combined with skilled craftsmanship position it for growth in both tourism-linked sales and exports. Recent initiatives underscore this potential, offering businesses pathways to develop high-quality, sustainable items that appeal […] - [The Devastating Impact of Cyclone Ditwah on Sri Lanka's SME Sector](https://lankabiznews.com/impact-of-cyclone-ditwah-on-sri-lanka-sme-sector/): Summary: Cyclone Ditwah, which struck Sri Lanka’s eastern coast on November 28, 2025, stands as one of the most severe natural disasters in the country’s recent history. Bringing intense rainfall, widespread flooding, and numerous landslides, the cyclone affected millions of lives and caused extensive damage across multiple districts. Small and medium enterprises (SMEs), the backbone of Sri Lanka’s economy, bore a significant portion of the devastation. With flooding covering over 1.1 million hectares and exposing nearly 720,000 buildings, the cyclone disrupted business operations, supply chains, and livelihoods on a massive scale. The SME sector in Sri Lanka plays a vital role […] - [Is Importing a Vehicle to Sri Lanka Worth It in 2026?](https://lankabiznews.com/is-importing-a-vehicle-to-sri-lanka-worth-in-2026/): The Sri Lankan vehicle market has undergone a remarkable transformation since the import ban was lifted in February 2025. After years of restrictions, 2025 saw a record-breaking influx of 360,117 vehicles, with imports totaling over US$2.047 billion. Personal vehicles dominated at US$1.607 billion, while commercial ones contributed US$440.5 million. This surge generated substantial government revenue, but as we enter 2026, the landscape is shifting. With imports projected at around US$1.5 billion for the year and early signs of market cooling, many potential buyers are asking: is importing a vehicle still worth the investment amid high taxes and evolving conditions? January 2026 […] - [Will AI Really Take Your Job? NVIDIA CEO Jensen Huang Says It Will Enhance Your Purpose Instead](https://lankabiznews.com/nvidia-jensen-huang-says-ai-enhance-your-purpose/): In a compelling discussion at the World Economic Forum in Davos, Jensen Huang, the innovative CEO and co-founder of NVIDIA, addressed one of the biggest fears of our time: the impact of artificial intelligence on jobs. Speaking on stage in his iconic leather jacket, Huang offered a refreshing perspective that calms anxieties while encouraging deeper self-reflection. He explained that most people worry about AI replacing them because they confuse everyday tasks with their true purpose. “If you just watched us,” he said, gesturing to himself and the moderator, “you would probably think the two of us are typists because I spend […] - [A Historic First: Sri Lanka’s Capital Market Leaders Bring Investor Forum to Saudi Arabia](https://lankabiznews.com/invest-sri-lanka-investor-forum-to-saudi-arabia/): The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE), in association with the Embassy of Sri Lanka to the Kingdom of Saudi Arabia, successfully convened an investor forum on Saturday 24th January 2026 at the Radisson Blu Hotel, Riyadh Convention & Exhibition Center. Alongside the forum, the SEC and CSE facilitated a meeting with the Public Investment Fund (PIF) which is Saudi Arabia’s main sovereign wealth fund. The forum was organized to engage directly with the vibrant Sri Lankan expatriate community in the Kingdom and international investors, highlighting compelling opportunities within Sri Lanka’s capital market following the […] - [The Sudden Surge of Electric Vehicles in Sri Lanka: Capturing Attention Amid Affordability Concerns](https://lankabiznews.com/sudden-surge-of-electric-vehicles-in-sri-lanka/): The year 2025 marked a dramatic turning point for electric vehicles (EVs) in Sri Lanka. Following the lifting of the long-standing vehicle import ban in February 2025, EVs suddenly captured the imagination of Sri Lankan consumers like never before. What was once a niche interest exploded into mainstream demand, with electric models accounting for a remarkable 10% of total passenger vehicle imports throughout the year. This surge was fueled primarily by affordable Chinese brands such as BYD, MG, and others, which flooded the market with modern, feature-packed options at competitive post-tax prices. The appeal was immediate and multifaceted. High fuel prices […] - [Global Sources Dominating Sri Lanka's Vehicle Imports: Key Countries, Business Networks, and Emerging Risks in 2026](https://lankabiznews.com/countries-dominating-sri-lanka-vehicle-imports/): Sri Lanka’s vehicle import sector experienced unprecedented growth in 2025, with total imports exceeding US$2.047 billion, marking a sharp recovery after the five-year ban. This included US$1.607 billion for personal vehicles and US$440.5 million for commercial ones, with over 300,000 units entering the country by year-end. As of early 2026, the market continues to evolve, driven by diverse global sources catering to varying consumer preferences from reliable used hybrids to affordable new electrics. The origins of these imports reveal a shifting landscape. Japan remains the undisputed leader in used vehicle supplies, exporting approximately US$318 million worth in the first half of […] - [Why Did SpaceX Acquire xAI in a $1.25 Trillion Deal and What's the Real Business Strategy Behind It?](https://lankabiznews.com/spacex-acquire-xai-in-a-1-25-trillion-deal/): Summary: On February 2, 2026, Elon Musk dropped a bombshell that reshaped the tech and space industries: SpaceX has officially acquired xAI, merging his rocket powerhouse with his ambitious AI startup into a single entity valued at approximately $1.25 trillion. The announcement, shared via xAI’s website and amplified by Musk’s X post declaring “To the stars! @SpaceX & @xAI are now one company,” confirms the unification of two of Musk’s most valuable private ventures. This isn’t just a financial transaction, it’s a strategic masterstroke aimed at vertically integrating space launch capabilities with cutting-edge AI development. The core business driver? Overcoming Earth’s […] - [Sri Lanka's Apparel Exports Surpass $5 Billion in 2025: Resilience Drives Growth and New Opportunities](https://lankabiznews.com/sri-lanka-apparel-exports-surpass-5-bn-in-2025/): Summary: Sri Lanka’s apparel industry concluded 2025 on a high note, with full-year exports exceeding $5 billion for the first time in recent years, marking a 5.42% increase over 2024. December alone saw exports reach $447.21 million, up 5.43% year-on-year, fueled by robust demand in key markets like the United States, European Union, and United Kingdom. This performance underscores the sector’s resilience amid global economic uncertainties and positions it for further expansion in 2026. With steady orders from traditional buyers and emerging policy advantages, businesses can leverage sustainability, diversification, and efficiency to capture greater market share. This analysis reviews the year’s […] - [How Will the Reported US-India Trade and Energy Agreement Affect Global Markets and Sri Lanka?](https://lankabiznews.com/us-india-trade-and-energy-agreement/): Summary: On February 2, 2026, United States President Donald J. Trump published a social media post claiming a phone conversation with Indian Prime Minister Narendra Modi. In the post, Trump stated that the two leaders reached significant agreements on trade and energy purchases, with the goal of strengthening bilateral ties and contributing to ending the Russia-Ukraine war. According to the post, India agreed to stop buying Russian oil and shift to greater purchases from the United States and potentially Venezuela. In addition, the two countries agreed to a trade deal that lowers reciprocal tariffs and commits India to increased purchases of […] - [HNB Assurance Empowers Female Team Members Through Strategic Partnership with Satynmag’s Satyn Circle](https://lankabiznews.com/hnb-assurance-partnership-with-satyn-circle/): Satynmag.com, Sri Lanka’s premier digital platform dedicated to the professional and personal advancement of women, has officially onboarded HNB Assurance PLC (HNBA) to its exclusive career development portal, Satyn Circle. This partnership marks a significant step in strengthening access to structured career resources for women within the corporate sector. Through this collaboration, HNB Assurance extends Satyn Circle access to its female team members, reinforcing the organisation’s long-standing commitment to women’s professional growth, learning, and leadership development. Advancing Women’s Careers with Purpose-Built Resources Satyn Circle is a curated, women-centric career development hub designed to support female professionals at every stage of their career journey. By […] - [Space-Based AI Data Centers: A Game-Changer for AI Scaling or an Overambitious Dream?](https://lankabiznews.com/space-based-ai-data-centers/): Summary: In early 2026, social media platform X exploded with discussions about a bold new frontier in artificial intelligence: moving massive AI data centers into orbit. Viral posts from influential accounts ignited global debate, with one claiming SpaceX is pursuing regulatory approval for up to one million satellites designed as orbital AI data centers. Concept images circulating alongside these posts depict futuristic space stations adorned with xAI and SpaceX branding, floating above Earth with vast solar arrays. The core idea is simple yet revolutionary: Earth’s power grids, water resources, and land availability are becoming bottlenecks for training and running ever-larger AI […] - [Buyer's Guide: Verifying Imported Vehicles in Sri Lanka and Avoiding Import Fraud](https://lankabiznews.com/verifying-imported-vehicles-in-sri-lanka/): The resumption of vehicle imports in Sri Lanka in 2025 has transformed the automotive market, bringing fresh opportunities for buyers seeking modern, reliable transportation. After nearly five years of stringent restrictions, the market saw an influx of over 300,000 new registrations by the end of 2025, with customs revenue from vehicle duties reaching an impressive Rs. 904 billion. This surge reflects pent-up demand, but it has also revived concerns about fraudulent practices that plagued the sector in the past. Fraudulent activities in vehicle imports often involve misdeclaration of specifications, undervaluation of the vehicle’s worth, or forgery of documents to minimize tax […] - [Is the $100 Billion NVIDIA-OpenAI Deal Truly Dead, or Just Facing Turbulence?](https://lankabiznews.com/the-100-billion-nvidia-openai-deal/): Summary: A viral X post from January 31, 2026, featuring a shocked Sam Altman meme alongside Wall Street Journal headlines, declared the dramatic collapse of a rumored $100 billion partnership between NVIDIA and OpenAI. The post, which garnered over 900,000 views, cited private criticisms from NVIDIA CEO Jensen Huang about OpenAI’s business discipline and competitive pressures from Google and Anthropic. But is this megadeal really over, or is the narrative overstated? Recent statements from Huang himself paint a different picture, suggesting ongoing commitment amid reports of delays. Announced in September 2025 as a non-binding memorandum of understanding (MOU), the partnership aimed […] - [Why Did Apple Choose Google Over OpenAI for Siri’s Massive AI Upgrade?](https://lankabiznews.com/why-did-apple-choose-google-over-openai-for-siri/): Summary: In a surprising turn that has sent ripples through the tech world, Apple CEO Tim Cook has revealed why the company opted for Google’s Gemini AI models to power the upcoming personalized version of Siri and key Apple Intelligence features instead of deepening its ties with Sam Altman’s OpenAI. During a recent earnings call, Cook straightforwardly explained that Google’s technology emerged as the superior choice after rigorous evaluation. This decision sidelines the earlier high-profile integration with ChatGPT, turning what was once touted as a flagship partnership into a secondary option. With Apple Intelligence set to roll out more fully in […] - [Is Cryptocurrency Legal in Sri Lanka in 2026?](https://lankabiznews.com/is-cryptocurrency-legal-in-sri-lanka-in-2026/): Summary: As of February 2026, interest in cryptocurrency among Sri Lankan investors remains strong, fueled by global market trends and the search for alternative assets amid economic recovery. However, the legal status continues to be restrictive and unregulated. The Central Bank of Sri Lanka (CBSL) maintains that cryptocurrencies are not recognized as legal tender, and their use for payments is prohibited. This longstanding position, rooted in concerns over financial stability, money laundering risks, and consumer protection, has seen no fundamental changes in recent months. Personal ownership or investment in cryptocurrencies such as Bitcoin or Ethereum is not explicitly prohibited for individuals […] - [OECD Report on Supervising Artificial Intelligence in Finance: A Critical Framework for Global Risk Management](https://lankabiznews.com/oecd-report-on-supervising-ai-in-finance/): Summary: The Organisation for Economic Co-operation and Development (OECD), a leading intergovernmental 30-nation forum promoting policies for economic and social well-being, has released a pivotal report titled Supervision of Artificial Intelligence in Finance. Authored under the OECD’s Committee on Financial Markets and drawing on expertise from member countries’ regulatory bodies, this document addresses the growing integration of AI in financial services and the supervisory challenges it presents. As AI technologies reshape global finance from algorithmic trading and credit assessment to fraud detection and risk management, the report provides essential guidance for regulators worldwide. In an era where AI drives efficiency and […] - [The Role of Japanese Used Car Imports in Sri Lanka: Quality, Popularity, and Market Dominance](https://lankabiznews.com/role-of-japanese-used-car-imports-in-sri-lanka/): Japanese used vehicles have long been the cornerstone of Sri Lanka’s automotive market, and even after the 2025 reopening of imports, they continue to dominate despite emerging competition. In the first half of 2025 alone, Japanese car exports to Sri Lanka reached approximately $318 million in value, reflecting a sharp jump post-ban. Brands like Toyota, Honda, Nissan, and Suzuki account for the vast majority of used imports, underscoring their enduring appeal. Also in Explained | Stories from the Market: How the Import Ban and Reopening Affected Dealers, Buyers, and the Economy The popularity stems from several factors. Japanese vehicles are renowned for reliability, […] - [Why Has Copper Climbed to a Record High Above $6.20 per Pound?](https://lankabiznews.com/why-has-copper-climbed-above-6-20-per-pound/): Summary: On January 29, 2026, copper prices shattered previous records, reaching an intraday high of $6.21926 per pound on CFD markets, marking a gain of over 3% in a single session. This breakthrough, highlighted in real-time trading data and widely shared alerts around 03:14 GMT, caps a remarkable monthly surge of more than 9%, extending gains that have pushed the industrial metal into uncharted territory. For investors, manufacturers, and economies worldwide, this latest milestone raises pressing questions: What is fueling copper’s relentless upward momentum, and how does it impact global markets and nations like Sri Lanka? Also in Explained | Why Has Silver […] - [SEC and CSE Take 'Invest Sri Lanka' to Dubai in Strategic Middle East Investment Push](https://lankabiznews.com/sec-and-cse-take-invest-sri-lanka-to-dubai/): The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) successfully concluded the ‘Invest Sri Lanka’ Investor Forum in Dubai on 22nd January 2026 at the Sheraton Grand Hotel, as part of a series of roadshows across the Middle East. The forum, targeting the international investment community and Sri Lankan diaspora, served as major events in Dubai and Abu Dhabi to spotlight Sri Lanka’s emergence as a rising frontier market with zero capital gains tax amid a sustained rally that has delivered rapid growth over the past few years. The forum brought together high-level government officials, […] - [Stories from the Market: How the Import Ban and Reopening Affected Dealers, Buyers, and the Economy](https://lankabiznews.com/how-the-import-ban-affected-vehicle-dealer-buyer/): The lifting of Sri Lanka’s vehicle import ban in 2025 marked a dramatic shift, unleashing stories of revival, frustration, and adaptation across the automotive sector. After years of restriction, the market exploded with activity, generating Rs. 904 billion in tax revenue while exposing the human impacts of economic policies. Dealers bore the brunt during the ban. Many showrooms in Colombo and provincial towns shuttered, with owners pivoting to repairs, accessories, or unrelated businesses. One prominent importer in the capital recalled laying off dozens of staff as new stock dried up, surviving only on high-margin used sales. Prices for existing vehicles soared […] - [Port City Colombo Emerges as Key Driver in Sri Lanka's Economic Transformation: Insights from CNA Interview](https://lankabiznews.com/port-city-colombo-emerges-as-key-driver-in-invest/): Summary: In a compelling live appearance on Channel NewsAsia (CNA) from Singapore, Hanif Yusoof, Governor of the Western Province and Presidential Special Envoy for Foreign Investment, underscored Sri Lanka’s robust economic recovery and positioned Port City Colombo as the cornerstone of the nation’s next growth phase. The interview highlighted the project’s potential to attract global capital, serving as an export-oriented services platform and a strategic gateway to South Asia’s vast markets. Yusoof’s discussion comes at a pivotal time for international investors seeking stable, high-return opportunities in emerging economies. With Sri Lanka transitioning from crisis management to long-term transformation, Port City Colombo […] - [The India-EU Free Trade Agreement: What It Means for Global Trade and Sri Lanka's Economy](https://lankabiznews.com/the-india-eu-free-trade-agreement-and-impact/): Summary: On January 27, 2026, India and the European Union (EU) officially concluded negotiations on a landmark Free Trade Agreement (FTA), hailed by leaders as the “mother of all deals.” Announced during the 16th India-EU Summit in New Delhi, the pact marks the end of nearly 20 years of intermittent talks and creates one of the world’s largest integrated markets, covering roughly 2 billion people and representing about 25% of global GDP. The agreement, described by European Commission President Ursula von der Leyen and Indian Prime Minister Narendra Modi as a blueprint for shared prosperity, focuses on eliminating or significantly reducing […] - [Pine Labs expands its footprint in Sri Lanka by deploying an API-first Card Issuing and Processing Platform for Pan Asia Bank](https://lankabiznews.com/pine-labs-partnership-with-pan-asia-bank/): Sitting (L–R): Venugopal Choudhary, CTO & CBO, Pine Labs Credit+; Naleen Edirisinghe, Director/CEO, Pan Asia Bank. Standing: Atul Tuli, CRO, Pine Labs Credit+ India & Sri Lanka; Dhanushka Sapugasthanna, Chief Manager – Consumer Banking, Pan Asia Bank, marking the signing of a strategic partnership between Pine Labs and Pan Asia Bank. One of Sri Lanka’s largest listed entities, the Pan Asia Banking Corporation (PABC) and global fintech platform Pine Labs have today announced a partnership that will see the fintech major implementing an end-to-end card management platform for the bank. Under this partnership, Pine Labs will deploy a full-stack Credit Card Management […] - [Sri Lanka's FDI Milestone: Urgent Call for Structural Reforms to Sustain Momentum](https://lankabiznews.com/sri-lanka-fdi-milestone-and-structural-reform/): Sri Lanka has achieved a notable milestone by surpassing USD 1 billion in foreign direct investment (FDI) inflows for 2025, including equity investments and foreign commercial borrowings by Board of Investment (BOI) enterprises. BOI Chairman Arjuna Herath highlighted this during a recent presentation to Parliament’s Committee on Public Finance (COPF), describing it as an early sign of recovering investor confidence and positive changes within the institution. While encouraging amid ongoing economic recovery, this figure falls short of the levels required for robust, sustained growth and must be viewed in historical and structural context. Policymakers, investors, and stakeholders now face a critical […] - [Exploiting Loopholes: Vehicle Imports During Sri Lanka's Ban and Customs' Digital Crackdown](https://lankabiznews.com/vehicle-imports-during-ban-and-scams/): During the five-year vehicle import ban from 2020 to 2025, most imports halted, but some exploited loopholes, leading to fraud cases and revenue losses. Common methods included abusing migrant worker schemes, meant for personal use after overseas employment. Importers collaborated to bring commercial quantities, evading full duties. Duty-free permits for diplomats, public servants, or NGOs were misused, with vehicles sold onward illegally. Undervaluation was rampant – declaring lower specs or values to reduce taxes. Misclassifying hybrids or EVs also occurred for concessions. Cross-border letters of credit exploited gaps before tightening. Notable cases were, in late 2024, customs seized luxury SUVs with […] - [Sri Lanka Targets Stronger Economic Partnership with Saudi Arabia in Key Growth Sectors](https://lankabiznews.com/sri-lanka-economic-partnership-with-saudi-arabia/): Sri Lanka is actively pursuing expanded economic collaboration with Saudi Arabia, identifying significant opportunities across multiple high-potential sectors. During a recent visit to Riyadh, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe highlighted the evolving bilateral relationship, emphasizing areas such as renewable energy, tourism, information technology, agriculture, and maritime activities. This outreach aligns with Saudi Arabia’s ongoing economic diversification efforts and Sri Lanka’s focus on attracting foreign investment to fuel post-recovery growth. The deputy minister described current ties as developing, with ongoing negotiations for an investment and trade promotion agreement. Building on positive momentum from 2025, where Sri Lankan exports […] - [Lifting the Vehicle Import Ban in Sri Lanka: Reasons, Timeline, and Public Response](https://lankabiznews.com/lifting-the-vehicle-import-ban-in-sri-lanka/): After nearly five years of strict restrictions, Sri Lanka began lifting the vehicle import ban in late 2024 and early 2025. This phased approach reflected cautious economic recovery following the 2022 crisis. Initial easing came in December 2024, allowing public transport vehicles like buses and trucks via gazette notification. Personal vehicles followed from February 1, 2025, with strict controls to prevent sudden forex drain. Reasons included stabilizing reserves through IMF support, debt restructuring, and improved remittances/tourism. Government revenue needs also factored, as vehicle duties offer high yields. Age limits applied: personal vehicles not older than three years, commercial ones up to […] - [Why Has Silver Surged Above $112 per Ounce for the First Time in History?](https://lankabiznews.com/why-has-silver-surged-above-112-per-ounce/): On January 26, 2026, silver prices broke through the $112 per ounce level for the first time ever, reaching an intraday high of $112.1881 during active trading. This milestone, announced in real-time market updates around 15:18 GMT, extends an extraordinary rally that has seen silver rise 57% in January alone and double (+100%) since December 19, 2025 just 38 days prior. Prices later stabilized around $111.80, but the breakout underscores unprecedented momentum in the precious metal. This rapid ascent has captivated global markets, raising critical questions: What is driving such explosive gains in silver, and what does this mean for investors, […] - [Why Has Gold Surged Past $5,100 per Ounce in 2026?](https://lankabiznews.com/why-has-gold-surged-past-5100-per-ounce-in-2026/): On January 26, 2026, gold prices reached a historic milestone, climbing to a new all-time high of $5,105.65 per ounce during early trading hours. This breakthrough, captured in real-time market data and widely shared across financial platforms, marks the first time the precious metal has crossed the $5,100 threshold. The surge, which occurred around 06:51 GMT on that day, reflects a sharp upward momentum that has seen gold rise more than 85% year-over-year and over 17% in the past month alone. For investors, central banks, and everyday consumers, this rally raises important questions: What is fueling this dramatic increase, and what […] - [The Imposition of Sri Lanka's Vehicle Import Ban: Causes and Consequences During the Economic Crisis](https://lankabiznews.com/the-imposition-of-sri-lanka-vehicle-import-ban/): The year 2020 marked a turning point for Sri Lanka’s vehicle import sector. In March 2020, amid the global COVID-19 pandemic, the government introduced temporary restrictions on importing vehicles. This measure, initially framed as a short-term response to preserve foreign exchange, evolved into a prolonged ban that lasted nearly five years. The primary reason was the acute shortage of foreign reserves. The pandemic disrupted tourism, a key revenue source, while remittances slowed and exports faced challenges. The Central Bank suspended opening letters of credit for non-essential imports, including vehicles, under Banking Act Directions. This suspension targeted luxury and personal vehicles, aiming […] - [The Evolution of Vehicle Imports in Sri Lanka: A Look Back Before the Economic Crisis](https://lankabiznews.com/the-evolution-of-vehicle-imports-in-sri-lanka/): Sri Lanka has long had a deep connection with motor vehicles, reflecting the island’s growing economy and rising middle class. For decades, importing cars, SUVs, vans, and motorcycles was a common practice, driven by consumer demand for modern transportation. Before the major disruptions of 2020, vehicle imports played a significant role in the country’s trade landscape, contributing to both convenience for citizens and challenges for the economy. In the early 2000s and 2010s, Sri Lanka experienced a boom in vehicle registrations. The number of vehicles on the road grew rapidly as economic growth averaged around 5-6% annually in many years. By […] - [Sri Lanka's Record-Breaking Pavilion at Gulfood 2026: A Strategic Push for Food and Beverage Exports and Foreign Investment](https://lankabiznews.com/sri-lanka-record-breaking-pavilion-gulfood-2026/): Sri Lanka is set to make a significant impact on the global stage with its largest-ever country pavilion at Gulfood 2026, the world’s premier food and beverage trade exhibition. Organized by the Sri Lanka Export Development Board (EDB), the 510-square-meter pavilion in South Hall 10 at Dubai Exhibition Centre, Expo City, will run from January 26 to 30, 2026. This historic showcase features over 60 exporters, including a strong representation of small and medium enterprises (SMEs), highlighting the nation’s diverse strengths in high-quality food products and positioning the country as an attractive destination for international partnerships and investment. Gulfood, known for […] - [SpaceX Prepares for Potential 2026 IPO: A Landmark Event for Global Investors and the Space Economy](https://lankabiznews.com/spacex-prepares-for-potential-2026-ipo/): Elon Musk’s SpaceX, the pioneering rocket and satellite company, is reportedly gearing up for a massive initial public offering (IPO) in 2026. According to recent reports from the Financial Times and confirmed by sources like Reuters and Bloomberg, SpaceX is lining up four major Wall Street banks – Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley to lead the process. This move signals a potential shift from private to public status for one of the world’s most valuable private companies, with speculated valuations reaching as high as $1.5 trillion. If realized, this could become the largest IPO in history, […] - [Sri Lanka Targets UAE Investors with Generous Tax Holidays and Bold 'Next Dubai' Vision](https://lankabiznews.com/sri-lanka-targets-uae-investors-next-dubai-vision/): Sri Lanka is actively courting investors from the United Arab Emirates with attractive tax holidays lasting up to 15 years, alongside a range of incentives designed to fuel foreign direct investment. At the recent Invest Sri Lanka Investor Forum held in Dubai, officials presented the island nation as an emerging hub poised to replicate Dubai’s remarkable transformation into a global business and tourism powerhouse. This strategic outreach comes as Sri Lanka builds on its economic recovery, offering UAE businesses opportunities in high-potential sectors amid strengthened bilateral ties. Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe led the pitch, emphasizing Colombo […] - [Elon Musk's Davos 2026 Predictions: A Game-Changer for Robotics, AI, and Space Industries?](https://lankabiznews.com/elon-musk-davos-predictions-for-ai-space-robotics/): Elon Musk, the world’s richest individual and CEO of companies like Tesla, SpaceX, and xAI, made a surprise appearance at the World Economic Forum in Davos, Switzerland, this week. In a wide-ranging discussion, he shared ambitious forecasts on humanoid robots, artificial intelligence, space travel, and even human aging. These statements have sparked interest among global investors searching for insights into “Elon Musk Davos 2026 predictions” and their potential impact on high-growth sectors. From a business viewpoint, Musk’s vision promises massive economic expansion through abundance of goods and services, but his history of delayed timelines raises questions about execution risks for companies […] - [CBSL Governor Calls for Banking Revolution: Shift from ROI to 'Return on Learning' Amid Climate and Digital Risks](https://lankabiznews.com/shift-from-roi-to-rol-return-on-learning/): Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe has urged the nation’s banks to fundamentally rethink capital allocation, moving away from traditional return on investment (ROI) metrics toward a “return on learning” (ROL) approach. Speaking at the National Conference in Banking and Finance 2025, organised by the Institute of Bankers of Sri Lanka on 20-21 January 2026, Dr. Weerasinghe emphasised that experimentation, data capabilities, and long-term resilience are essential for financial sustainability in an era of rapid digital disruption and escalating climate risks. As Sri Lanka’s banking sector navigates post-crisis recovery with strong private credit growth and improving profitability […] - [Sri Lanka's Participation in Indian Ocean Coastal Alliance: Enhancing Sustainable Tuna Fisheries for Business Growth](https://lankabiznews.com/sustainable-tuna-fisheries-for-business-growth/): Sri Lanka has taken a strategic step toward regional cooperation in fisheries management with the Cabinet of Ministers approving the signing of a Memorandum of Understanding to establish the Indian Ocean Coastal Alliance. This initiative, focused on sustainable tuna resource management, addresses overfishing risks while aiming to strengthen economic contributions from the sector. Tuna fisheries play a vital role in Sri Lanka’s marine exports, supporting employment and foreign earnings. The alliance opens pathways for businesses through improved resource stability, collaborative opportunities, and access to sustainable practices that can enhance competitiveness in global markets. This analysis explores the sector’s context, the recent […] - [World Economic Forum and Sri Lanka: A Legacy of Engagement Amid Global Challenges](https://lankabiznews.com/world-economic-forum-and-sri-lanka-a-legacy/): The World Economic Forum (WEF), renowned for convening global leaders to address pressing economic, social, and environmental issues, has maintained a longstanding relationship with Sri Lanka. This partnership has evolved from participation in annual meetings to collaborative initiatives on development, competitiveness, and sustainability. In 2026, Sri Lanka’s involvement is highlighted by the government’s attendance at the 56th Annual Meeting in Davos-Klosters, Switzerland, from January 19 to 23. The delegation departed on January 19, 2026, to engage in high-level discussions under the theme “A Spirit of Dialogue,” focusing on fostering inclusive conversations amid geopolitical shifts, technological advancements, and societal changes. This article […] - [Rising Gold Prices Hit Record Highs: A Business and Investment Analysis with Pros and Cons](https://lankabiznews.com/rising-gold-prices-hit-record-highs/): Gold prices have surged to new all-time highs, reaching around $4,750 per ounce today, driven by a mix of geopolitical tensions and economic shifts. This marks a significant climb, with gold up over 70% from last year. Investors and businesses are closely watching, as many search for “gold price forecast 2026” to gauge future trends. Prediction markets estimate a 22% chance that gold could hit $5,000 by the end of January, based on futures settlement prices from reliable sources like the J P Morgan. From a business perspective, this rally presents opportunities and challenges, affecting everything from corporate strategies to stock […] - [Rising Financial Scams in Sri Lanka: Safeguarding Mobile Transactions for Businesses and Individuals](https://lankabiznews.com/rising-financial-scams-in-sri-lanka/): In an era where mobile banking and digital payments have become indispensable for daily operations, Sri Lanka is witnessing a surge in sophisticated financial scams. Recent advisories from law enforcement highlight a renewed spike in scams perpetrated through social media, phone calls, and online platforms. These schemes, often masquerading as legitimate opportunities, exploit trust to siphon funds, compromising personal savings and business accounts alike. For business professionals and everyday users relying on mobile devices for transactions, understanding these threats is crucial to mitigate risks and maintain financial security. This article delves into the mechanics of these scams, their impact on Sri […] - [OpenAI's Pivot to Advertising in ChatGPT in 2026: Navigating Costs, AI War, and the Evolving AI Landscape](https://lankabiznews.com/openai-pivot-to-advertising-in-chatgpt-in-2026/): In a significant shift for one of the world’s leading AI companies, OpenAI announced on January 16, 2026, that it will begin testing advertisements within ChatGPT. This move, initially limited to U.S. users on the free tier and the newly introduced ChatGPT Go subscription (a lower-cost plan), marks the first time the flagship chatbot will incorporate sponsored content. Ads will appear subtly typically at the bottom of responses and OpenAI has emphasized that they will not influence the AI’s outputs nor involve selling user data to advertisers. This development has sparked widespread discussion, coming from a company long associated with a […] - [Rapid Rise, Sudden Fall: How Overambitious Growth Can Undermine Even Strong Brands in Sri Lanka's Retail Sector](https://lankabiznews.com/how-overambitious-growth-can-undermine/): In Sri Lanka’s competitive retail landscape, few stories capture the fragility of corporate growth quite like the trajectory of a once-dominant player in consumer electronics. Emerging from humble beginnings as a single outlet in the late 1990s, the business capitalized on the nation’s burgeoning demand for technology products, expanding aggressively into a nationwide network. Its 2010 stock market listing symbolized peak ambition, attracting investor enthusiasm and reflecting confidence in the local retail boom. Yet, within a few years, the enterprise unraveled dramatically share values plummeted, operations contracted, and eventual liquidation erased shareholder equity while leaving creditors in limbo. This case exemplifies […] - [Sri Lanka Customs Kicks Off 2026 with Robust Revenue: Rs. 106.6 Billion in First 13 Days Signals Positive Momentum](https://lankabiznews.com/sri-lanka-customs-kicks-off-2026-robust-revenue/): Sri Lanka Customs has begun 2026 on a strong footing, collecting Rs. 106.6 billion in revenue during the first 13 days of January. This performance represents approximately 66% of the projected monthly target of around Rs. 160-162 billion, according to official data reported across multiple sources. The surge is attributed to improved container clearance efficiency following disruptions from Cyclone Ditwah in late 2025, coupled with higher import volumes in key categories. This early achievement builds on a landmark 2025, where Customs recorded a historic Rs. 2,551 billion in total revenue surpassing the revised annual target of Rs. 2,241 billion by a […] - [Sri Lanka Tourism 2025: Record Arrivals with Modest Revenue Gains – Pathways to Stronger Sector Earnings in 2026](https://lankabiznews.com/sri-lanka-tourism-analyzing-revenue-arrivals-gap/): Sri Lanka’s tourism industry achieved a landmark milestone in 2025, attracting a record 2.36 million international visitors, surpassing the pre-pandemic high of 2.33 million in 2018 and marking a 15% increase from 2.05 million in 2024. This growth, driven by enhanced global promotions, improved connectivity, and positive traveler sentiment, reaffirms the sector’s role as a vital economic engine. Yet, financial outcomes were more tempered: tourism earnings reached approximately USD 3.22 billion, reflecting only a 1.6% rise from USD 3.17 billion in 2024. This disparity arises from shifts in visitor composition and patterns. Average per-visitor expenditure declined to around USD 1,363 from […] - [Sri Lanka Unveils the “Star of Pure Land”: World’s Largest Natural Purple Star Sapphire and Its National Significance](https://lankabiznews.com/worlds-largest-natural-purple-star-sapphire/): On January 17, 2026, Sri Lanka formally unveiled a remarkable natural gemstone in Colombo: the “Star of Pure Land,” a purple star sapphire weighing 3,563 carats. Experts describe it as the largest documented natural purple star sapphire in the world, distinguished by a sharp, well-defined six-ray asterism, the star-like pattern visible when light reflects off inclusions within the stone. Certified by the prestigious Gemological Institute of America (GIA) as natural and independently verified by the Lanka Gemological Laboratory for its Ceylon origin, the gem was discovered in 2023 in a pit near Ratnapura, the renowned “city of gems” in southern Sri […] - [Sri Lanka’s Construction Sector Boom: Addressing the 20,000 Worker Shortfall with Foreign Labour and Local Training](https://lankabiznews.com/sri-lankas-construction-sector-labour-shortage/): Sri Lanka’s construction industry is experiencing a robust recovery, marking a pivotal shift in the nation’s post-crisis economic landscape. Following sharp contractions during the 2022-2023 period, when the sector shrank by over 20% amid currency instability and halted projects the industry rebounded strongly with 19.4% growth in 2024 and 10.5% expansion in the first nine months of 2025. This momentum, fueled by stabilizing exchange rates, controlled material costs, and reconstruction efforts after Cyclone Ditwah, positions construction as a key driver of GDP contributions and employment. However, this resurgence has exposed a critical challenge: a projected labour shortfall of 20,000 workers in […] - [SEC எச்சரிக்கை: Blue Ocean Securities மற்றும் BOMate App உடன் தொடர்பு கொள்ள வேண்டாம் – பங்குச் சந்தை முதலீட்டாளர்களுக்கான முக்கிய விழிப்புணர்வு](https://lankabiznews.com/sec-warns-public-against-scammers/): இலங்கை பிணையங்கள் மற்றும் பரிவர்த்தனைகள் ஆணைக்குழு (SEC) பொதுமக்களுக்கு புதிய எச்சரிக்கை ஒன்றை விடுத்துள்ளது. Blue Ocean Securities Ltd. எனும் நிறுவனமோ அல்லது அதனுடன் தொடர்புடைய BOMate App, கொழும்பு பங்குச் சந்தை (CSE) முதலீட்டிற்காக பயன்படுத்த வேண்டாம் என அறிவுறுத்தியுள்ளது. இந்த நிறுவனம் SEC இனால் உரிமம் பெறாத சந்தை இடைத்தரகராக செயற்படுவதால், இதனுடன் எந்தவொரு தொடர்பும் சட்டவிரோதமானது மற்றும் அதிக ஆபத்துடையது. இந்த எச்சரிக்கை 2025 இறுதியில் இருந்து இலங்கை பிணையங்கள் மற்றும் பரிவர்த்தனைகள் ஆணைக்குழு மற்றும் கொழும்பு பங்குச் சந்தை விடுத்த முந்தைய அறிவுறுத்தல்களை மேலும் வலுப்படுத்துகிறது. இந்த செயற்பாட்டுடன் தொடர்புடைய மோசடி நடவடிக்கைகள் தொடர்ந்து கவலையை ஏற்படுத்தி வருகின்றன. SEC, குற்றப் புலனாய்வுத் திணைக்களத்திடம் (CID) முறைப்பாடு ஒன்றை பதிவு செய்துள்ளது. CID இதனை விசாரணை செய்ய ஆரம்பித்துள்ளது. CSE தனியாக மற்றொரு முறைப்பாடு செய்துள்ளது. தொடர்புடைய முறைப்பாடுகள் மற்றும் வங்கிக் கணக்கு விபரங்கள் அனைத்தும் […] - [In recognition of sustainability goals, Assetline Finance awarded ISO 14064 Certification for Greenhouse Gas Emissions Verification](https://lankabiznews.com/assetline-finance-awarded-iso-14064-certification/): Assetline Finance Limited (AFL), the financial services arm of the David Pieris Group, achieved a significant sustainability milestone by obtaining independent verification of its Greenhouse Gas (GHG) emissions inventory in accordance with ISO 14064-1:2018. The verification covers Scope 1, Scope 2, and Scope 3 emissions, including financed emissions. The certification was formally presented at a ceremony held at the Ministry of Environment, Battaramulla, on December 30, 2025. While upholding AFL’s sustainability credentials at a national level, ISO 14064-1:2018 certification confirms that AFL’s greenhouse gas emissions have been independently quantified and verified in accordance with internationally recognised standard for GHG accounting and […] - [SEC Warns Public Against Unlicensed Blue Ocean Securities and BOMate App: A Call for Vigilance in Stock Market Investments](https://lankabiznews.com/sec-warns-public-against-unlicensed-bomate-app/): The Securities and Exchange Commission of Sri Lanka (SEC) has issued a fresh public alert today (January 15, 2026), urging citizens to avoid any engagement with an entity operating as Blue Ocean Securities Ltd. or its associated mobile application, BOMate, for investments in the Colombo Stock Exchange (CSE). The entity is not licensed by the SEC to act as a market intermediary, making any dealings with it illegal and highly risky. This warning reinforces earlier cautions from both the SEC and CSE dating back to late 2025, highlighting ongoing concerns about fraudulent activities linked to this operation. The SEC has formally […] - [World Bank’s 2026 Outlook: Sri Lanka’s Growth Moderation Amid Global Trade Headwinds and Reform Opportunities](https://lankabiznews.com/world-bank-outlook-sri-lanka-growth-moderation/): The World Bank’s January 2026 Global Economic Prospects report delivers a measured assessment of Sri Lanka’s economic trajectory, projecting a deceleration from the robust 4.6% GDP expansion seen in 2025 to 3.5% in 2026, easing further to 3.1% in 2027. This slowdown reflects broader global dynamics, including heightened trade tensions and tariff uncertainties, compounded by fragile domestic conditions. While South Asia remains one of the fastest-growing regions globally at an average 6.2%, Sri Lanka trails peers like India (6.5%) and Bangladesh (4.6%), underscoring the need for accelerated structural reforms to unlock private-sector potential. The report highlights resilience in Sri Lanka’s recovery […] - [Potential 25% US Tariffs on Iran Trade Partners: Implications for Sri Lanka's Tea Exports and Business Strategies](https://lankabiznews.com/potential-us-tariffs-on-iran-trade-partners/): Recent announcements from the United States regarding trade policies toward Iran have sparked widespread discussion in global markets. On January 12, 2026, President Donald Trump stated that any country conducting business with Iran would face a 25% tariff on its exports to the US, effective immediately. This measure aims to increase economic pressure on Iran amid ongoing internal challenges, extending beyond traditional sanctions to broadly target trading partners. Major economies like China, India, Turkey, and the UAE, key importers of Iranian oil and goods could see significant impacts on their US-bound shipments. While enforcement details remain fluid, with potential focus on […] - [Sri Lanka Tops Global Affordability Rankings for Retirement: Unlocking Business Opportunities in Long-Stay Tourism](https://lankabiznews.com/sl-tops-global-affordability-rankings-retirement/): Sri Lanka has emerged as a standout destination in international retirement rankings for 2026, particularly excelling in affordability according to reputable sources. The prestigious International Living’s 2026 Global Retirement Index positions Sri Lanka at the top of its most affordable places to live or retire category, ahead of countries like Vietnam, Thailand, Indonesia’s Bali, and Malaysia. This recognition, highlighted in reports published in early January 2026 and featured in Forbes, underscores the island’s ultra-low cost of living, where a couple can live comfortably or even extravagantly on budgets as low as USD 1,500–2,200 per month. Factors contributing to this ranking include […] - [The Paradox of Tech Layoffs: Hiring Amid Redundancies in Sri Lanka's IT Sector](https://lankabiznews.com/paradox-of-tech-layoffs-hiring-amid-redundancies/): Sri Lanka’s information technology (IT) and business process management (BPM) sector remains a vital pillar of the economy, employing approximately 170,000-175,000 professionals and generating around USD 1.5 billion in annual exports. With national ambitions to grow the digital economy to USD 15 billion by 2030, supported by significant government investments in digital infrastructure through the 2026 budget, the industry holds immense potential. Yet, this growth trajectory is overshadowed by a recurring issue: widespread layoffs in tech companies, frequently coinciding with active recruitment efforts and investments in branding activities. This contradictory practice downsizing in certain areas while hiring elsewhere has sparked significant […] - [Sri Lanka's Apparel Industry: Building Stronger Growth in 2026 with New Trade Advantages](https://lankabiznews.com/sri-lanka-apparel-industry-stronger-growth/): Sri Lanka’s apparel sector continues to shine as one of the country’s top export earners, known worldwide for quality and ethical production. In the first 11 months of 2025, exports reached $4.57 billion, up 5.42% from the same period in 2024. A new boost came on January 1, 2026, when the UK opened full tariff-free access for Sri Lankan garments, allowing global sourcing of materials without losing duty benefits. This opens fresh doors for growth. With the global fashion market expected to see steady but slow growth in 2026, Sri Lankan businesses can improve by focusing on simple steps like sustainability, […] - [Dr. Parakrama Dissanayake Appointed Presidential Adviser: A Strategic Boost for Sri Lanka's Maritime and Export Growth](https://lankabiznews.com/parakrama-dissanayake-appointed-adviser-maritime/): In a significant move to harness Sri Lanka’s strategic geographic advantage, President Anura Kumara Dissanayake has appointed Dr. Mahinda Parakrama Dissanayake as Adviser to the President on Maritime, Ports and Logistics, effective immediately. The appointment, accepted on an honorary basis, underscores the government’s commitment to transforming Sri Lanka into a premier regional logistics hub. Dr. Dissanayake, a seasoned maritime expert with decades of leadership in both public and private sectors, brings unparalleled experience at a pivotal time when the nation’s export sector is posting record earnings and eyeing ambitious growth in 2026. Currently serving as Deputy Chairman and Managing Director of […] - [CBSL's 2026 Financial Sector Reforms: Enhancing Banking Strength and Market Innovation](https://lankabiznews.com/cbsl-financial-sector-reform-banking-strength/): On January 8, 2026, the Central Bank of Sri Lanka (CBSL) presented its Policy Agenda for 2026 and Beyond, placing strong focus on financial system stability as a foundation for banking sector resilience and market development in a post-recovery landscape. Building Systemic Resilience Through Macroprudential and Capital Measures The financial system exhibited robust performance in 2025, with banking and finance companies recording improved asset quality, operational efficiency, profitability, and capital adequacy well above regulatory thresholds. Targeted interventions included revised criteria for Domestic Systemically Important Banks (D-SIBs) and updated Loan-to-Value (LTV) ratios, alongside enhanced analytical tools for interconnectedness and contagion risks. Looking […] - [Sri Lanka Central Bank's 2026 Policy Agenda: Boosting Business Confidence and Market Stability](https://lankabiznews.com/sri-lanka-central-banks-2026-policy-agenda/): The Central Bank of Sri Lanka (CBSL) unveiled its Policy Agenda for 2026 and Beyond on January 8, 2026, setting a forward-looking framework that prioritizes macroeconomic stability to support private sector growth and market resilience. Amid a recovering economy that showed notable progress in 2025 despite global uncertainties and the devastating Cyclone Ditwah, the agenda offers businesses clear signals for planning investments, managing costs, and navigating external pressures. Accommodative Monetary Policy and Private Sector Credit Expansion The CBSL’s flexible inflation targeting framework, anchored at a 5 percent target agreed with the government, continues to guide policy with strong emphasis on transparency […] - [Sri Lanka's Seafood and Fisheries Products Exports: Unlocking Potential in 2026](https://lankabiznews.com/sri-lanka-seafood-and-fisheries-products-exports/): Sri Lanka’s seafood and fisheries sector emerges as a dynamic pillar of the export economy, harnessing the island’s rich marine resources to fuel growth and sustainability. In 2025, exports from this category climbed to approximately $238 million over the first 11 months, marking a 1.87% rise despite market fluctuations. With the global seafood industry poised for expansion, valued at around $387 billion in 2025 and expected to reach $651 billion by 2032 at a 7.72% annual growth rate, Sri Lankan producers are gearing up for enhanced opportunities through targeted developments. This analysis examines the sector’s roots, recent performance, evolving dynamics, business […] - [Invest Sri Lanka Forum: Is It Bringing Foreign Investors Back?](https://lankabiznews.com/invest-sri-lanka-forum-foreign-investors/): Foreign purchases from Singapore rose from Rs. 2.6 billion in the year before the 2025 Invest Sri Lanka Forum to Rs. 7.7 billion in the year after. The increase is encouraging, but the bigger question is whether Sri Lanka can turn investor engagement into sustained participation. - [Satynmag Women-Friendly Workplace Awards 2026](https://lankabiznews.com/satynmag-women-friendly-workplace-awards-2026/): The Satynmag Women-Friendly Workplace Awards 2026 concluded on 21 August in Colombo, recognising 31 organisations alongside the She Wins and She Grows honours for progress in women’s careers and workplace innovation. - [Sri Lanka Tourism Earnings 2026: Why Visitor Value Matters](https://lankabiznews.com/sri-lanka-tourism-earnings-2026-visitor-value/): Sri Lanka welcomed almost as many tourists in July 2026 as a year earlier, but tourism earnings remained noticeably lower. The next stage of recovery may depend less on arrival numbers and more on who visits, how long they stay and how much value the economy captures from each trip. - [EU India FTA Sri Lanka: How Exporters Can Protect Their EU Position](https://lankabiznews.com/eu-india-fta-sri-lanka-export-position/): The EU–India FTA has not yet entered into force, giving Sri Lanka a valuable preparation window. The real challenge is not losing EU access, but protecting competitiveness as Indian exporters gain stronger tariff advantages. - [Mannar Basin Natural Gas: Opportunity, Risk and a Sustainable Path](https://lankabiznews.com/mannar-basin-natural-gas-sri-lanka/): Sri Lanka is moving towards attracting investors for Mannar Basin gas development. The resource could improve energy security, but success depends on commercial viability, environmental safeguards and ensuring gas supports rather than delays the renewable transition. - [Wellness Industry Growth: Can Sri Lanka Move Before Rivals Do?](https://lankabiznews.com/wellness-industry-growth-sri-lanka/): The global wellness economy is forecast to approach US$9.8 trillion by 2029. Sri Lanka already has recognised natural, cultural and traditional-health assets, but capturing the opportunity requires more than promoting retreats. - [Sri Lanka US Tariff 2026: Why September Could Change Apparel Competition](https://lankabiznews.com/sri-lanka-us-tariff-2026-apparel-trq/): Sri Lanka currently shares a 10% US Section 301 tariff with several apparel competitors. But Bangladesh, Cambodia, Indonesia and Malaysia have been promised a pathway to Section 301-free quotas that Sri Lanka does not currently have. - [Hela Apparel Insolvency: Did Growth Outrun the Balance Sheet?](https://lankabiznews.com/hela-apparel-insolvency-growth-debt/): Hela Apparel raised billions through an IPO and rights issue, secured international development financing and repeatedly restructured debt. Four years after listing, it says it can no longer pay its debts. What happened between growth and the balance sheet? - [Banking Transformation in Sri Lanka: A Practical 2026 Framework](https://lankabiznews.com/banking-transformation-in-sri-lanka/): Sri Lankan banks are expanding credit while facing higher operating costs, cyber risks and rapidly changing technology. A recent Asian Business Review commentary offers a useful framework for transforming without weakening trust or resilience. - [Sri Lanka Consumer Spending 2026: When Higher Spending Hides Stress](https://lankabiznews.com/sri-lanka-consumer-spending-2026/): Sri Lankan consumers may be spending more, but that does not necessarily mean they are buying more. Inflation, essential costs, credit growth and uneven income recovery are reshaping demand, and businesses must read the signals carefully. - [Islamic Finance in Sri Lanka: How It Works and Investment Potential](https://lankabiznews.com/islamic-finance-in-sri-lanka-how-it-works/): Islamic finance has grown into a US$4.4 trillion global industry. Sri Lanka already has an enabling banking framework, Islamic financial institutions and a listed sukuk market, but greater scale requires stronger regulation, awareness and investable projects. - [Open-Weight AI Models: Jensen Huang’s Push and Anthropic’s Absence](https://lankabiznews.com/open-weight-ai-models-jensen-huangs-letter/): Jensen Huang, Satya Nadella, Sundar Pichai and other technology leaders are backing open-weight AI models as essential to competition, security and national AI sovereignty. Anthropic’s absence reveals a deeper industry divide. - [Sri Lanka Exports 2026 Cross US$9 Billion: What Drove Growth](https://lankabiznews.com/sri-lanka-exports-2026-cross-us9-billion/): Sri Lanka’s combined merchandise and services exports exceeded US$9 billion during the first half of 2026. The milestone reflects stronger diversification, but apparel, tea and major Western markets remain under pressure. - [US Tariffs on Sri Lanka 2026: Impact and Export Opportunities](https://lankabiznews.com/us-tariffs-on-sri-lanka-2026-impact-opportunities/): Sri Lanka received the lower 10% US tariff rate after adopting a forced-labour import prohibition. The decision protects export competitiveness while creating opportunities for exempt product sectors. - [CBSL Holds Policy Rate at 8.75% in July 2026: What the Decision Signals](https://lankabiznews.com/sri-lanka-policy-rate-at-8-75-on-july/): The Central Bank kept the Overnight Policy Rate at 8.75%, choosing to assess the impact of May’s tightening while inflation, external pressures and credit growth remain key concerns. - [SEC, CSE and CA Sri Lanka Sign MOU to Advance XBRL-Based Digital Reporting for Listed Companies](https://lankabiznews.com/sec-cse-and-ca-sri-lanka-sign-mou/): SEC, CSE and CA Sri Lanka Sign MOU to Advance XBRL-Based Digital Reporting for Listed Companies. - [Central Bank Sri Lanka July 2026 Policy Rate Decision: Balancing Inflation, Reserves and Credit](https://lankabiznews.com/cbsl-july-2026-policy-rate-decision/): The Central Bank of Sri Lanka’s next monetary policy decision on 22 July 2026 policy rate comes at a critical juncture. Following the 100-basis-point increase in May that lifted the Overnight Policy Rate to 8.75%, the Bank faces a complex balancing act between maintaining price stability, strengthening external buffers and supporting the ongoing economic recovery. […] - [Sri Lanka Tourism: High Arrivals But Are the Dollars Following in 2026?](https://lankabiznews.com/sri-lanka-tourism-high-arrivals/): Sri Lanka tourism sector continues its recovery, with 90,122 tourist arrivals recorded in the first 15 days of July 2026, an average of roughly 6,008 visitors per day. Year-to-date arrivals (1 January to 15 July) reached 1,236,695, signalling substantial progress. However, June arrivals fell 9.9% year-on-year to 124,551. India remained the dominant source market, supplying […] - [Sri Lanka VAT Changes from July 2026: What Businesses Need to Know](https://lankabiznews.com/sri-lanka-vat-changes-from-july-2026/): Sri Lanka VAT changes landscape has seen significant updates effective from 1 July 2026, sparking widespread discussion across social media and business circles. While some claims suggest a broad increase in VAT rates, the reality is more nuanced. This article provides a clear, fact-based analysis of the recent changes and their implications for the business […] - [World Bank Approves US$150 Million to Support Sri Lanka’s Reform Agenda for Growth and Business Resilience](https://lankabiznews.com/us150-million-to-support-sri-lanka/): World Bank Approves US$150 Million to Support Sri Lanka – The World Bank Sri Lanka Reform Loan 2026 marks an important step in the country’s ongoing economic recovery efforts. On 1 July 2026, the World Bank approved a US$150 million Development Policy Operation (DPO) to support Sri Lanka’s reform agenda aimed at driving sustainable growth […] - [Sri Lanka Expo 2027: A Major Platform to Boost Exports and Attract Investment](https://lankabiznews.com/sri-lanka-expo-2027-importance-exports-investment/): Sri Lanka Expo 2027 is shaping up to be one of the most significant events for the country’s business community in recent years. Scheduled to take place from 14 to 17 January 2027 at the BMICH in Colombo, this international trade exhibition is expected to bring together over 750 exhibitors across 19 sectors and attract […] - [Risks Leading to Cancellation of Registration for Finance Leasing Establishments in Sri Lanka](https://lankabiznews.com/cancellation-of-registration-for-finance-leasing/): The risks leading to cancellation of registration for finance leasing establishments in Sri Lanka are clearly outlined in the regulatory framework administered by the Central Bank of Sri Lanka (CBSL). Establishments registered under the Finance Leasing Act must maintain strict compliance with ongoing requirements. Failure to do so, especially on a repeated basis despite opportunities […] - [National Export Development Plan 2026-2030 Launched: Sri Lanka’s Roadmap to USD 36 Billion Exports](https://lankabiznews.com/national-export-development-plan-2026-2030-launch/): Launch of the National Export Development Plan 2026-2030 The National Export Development Plan (NEDP) 2026–2030 was launched under the patronage of the Minister of Industry and Entrepreneurship Development, Hon. Sunil Handunnetti. The event brought together senior government officials, including the Governor of the Central Bank of Sri Lanka, other ministers, deputy ministers, and representatives from […] - [SEC Chairman Review On Annual Report 2025: Sri Lanka Capital Market Strong Rebound](https://lankabiznews.com/sec-chairman-review-on-annual-report-2025/): SEC Chairman Review On Annual Report 2025 The year 2025 marked a period of stabilisation for the Sri Lankan economy, characterised by cautious optimism and a gradual rebound from the 2022 economic crisis. This progress was supported by improved macroeconomic fundamentals, including strengthened fiscal discipline, enhanced foreign reserve buffers, and restored policy credibility, which helped […] - [Hatton National Bank and Nucleus Software Celebrate Five Years of Partnership Driving Transaction Banking Transformation and Excellence, Powered by FinnAxia®](https://lankabiznews.com/hatton-national-bank-and-nucleus-software/): Image – Hatton National Bank and Nucleus Software celebrate five years of successful partnership(L to R)- Anurag Mantri (COO & Country Head Singapore, Nucleus Software), Rajive Dissanayake (EVP/Head of SME & Micro Finance, HNB), Vishnu R. Dusad(Co-founder & Managing Director, Nucleus Software), Damith Pallewatte (MD & CEO, HNB) , Sanjay Wijemanne (COO, HNB), Dr. Apurva […] - [US Government Halts Anthropic Claude Fable 5 and Mythos 5 Access: Impact on Sri Lanka](https://lankabiznews.com/us-government-halts-anthropic-claude-fable-5/): The US government halts Anthropic Claude Fable 5 and Mythos 5 models has sent ripples through the global AI community. On June 12, 2026, Anthropic announced that it must disable access to its newest flagship models for all users worldwide to comply with a US Commerce Department export control directive. What Happened? The Timeline Anthropic […] - [Assetline Finance PLC, Preferred Partner at David Pieris Automobiles (Pvt) Ltd First GWM Flagship Experience Centre](https://lankabiznews.com/assetline-finance-gwm-flagship-experience-centre/): Assetline Finance PLC (AFIN), a member of the David Pieris Holdings, is pleased to be the preferred finance partner for the launch of Sri Lanka’s first GWM Flagship Experience Centre at Access Towers, Colombo by David Pieris Automobiles (Pvt) Ltd (DPA). This state‑of‑the‑art facility marks a significant milestone in the country’s evolving automotive retail landscape. […] - [CBSL Monetary Policy Review No 3 2026: Overnight Policy Rate Raised to 8.75%](https://lankabiznews.com/overnight-policy-rate-raised-by-100-bps/): Meta Description:CBSL Monetary Policy Review No 3 2026 shows the Overnight Policy Rate Raised by 100 bps by Central Bank of Sri Lanka to 8.75% to address rising inflation pressures from high energy prices and strong domestic demand. Learn the key decisions, reasons and economic outlook. The CBSL Monetary Policy Review No 3 2026 marks […] - [Sri Lanka Exports 2026: Surpass US$ 5.7 Billion in First Four Months](https://lankabiznews.com/sri-lanka-exports-2026-surpass-us-5-billion/): The Sri Lanka Exports 2026 performance in the first four months shows encouraging resilience. According to the Sri Lanka Export Development Board (EDB), total exports – including both merchandise and services reached US$ 5,784.38 million from January to April 2026. This marks a 4.3% increase compared to the same period in 2025, even as global […] - [SME Nexus Sri Lanka 2026: National Framework to Empower SMEs](https://lankabiznews.com/sme-nexus-sri-lanka-2026-framework-to-empower-sme/): The SME Nexus Sri Lanka 2026 marks a major step forward for the country’s small and medium enterprises. The National SME Strategy Framework 2026 was officially launched on 13 May 2026 by the Ministry of Industry and Entrepreneurship Development under the patronage of Minister Sunil Handunnetthi and Deputy Minister Chathuranga Abeysinghe. This framework aims to […] - [Sri Lanka Tourism Revenue 2026: Why Arrivals Rise But Earnings Lag](https://lankabiznews.com/sri-lanka-tourism-revenue-2026/): The Sri Lanka Tourism Revenue 2026 situation highlights an important challenge for the country. Tourist numbers continue to rise strongly after successful recovery strategies, yet foreign exchange earnings from tourism are not growing at the same pace. According to data from the Sri Lanka Tourism Development Authority (SLTDA) and the Central Bank of Sri Lanka […] - [CBSL Introduces 70% LTV Ratio for Gold Backed Loans from 25 May 2026](https://lankabiznews.com/cbsl-70-ltv-ratio-for-gold-backed-loans/): The CBSL 70% LTV Ratio for Gold Backed Loans marks an important step by the Central Bank of Sri Lanka to promote prudent lending practices. Issued on 24 May 2026 under Central Bank of Sri Lanka Act Directions No. 02 of 2026, these measures take effect from 25 May 2026. The directions aim to safeguard […] - [Ceylon Tea on International Tea Day 2026: Resilience, Challenges and the Path Forward](https://lankabiznews.com/ceylon-tea-on-international-tea-day-2026/): On International Tea Day 2026, Ceylon Tea continues to represent one of Sri Lanka’s most recognised global brands. Known for its quality, heritage and premium positioning, Ceylon Tea remains a key symbol of the country’s agricultural strength and export identity. This year’s International Tea Day theme, “Sustaining Tea, Supporting Communities,” is especially relevant to Sri […] - [Why the Government Imposed a 50% Duty Surcharge - Sri Lanka Vehicle Imports 2026](https://lankabiznews.com/why-the-government-imposed-a-50-duty-surcharge/): Why the government imposed a 50% duty surcharge? Sri Lanka’s vehicle imports have become a renewed external-sector concern in 2026, after Central Bank of Sri Lanka data showed a sharp rise in imports of personal and commercial vehicles. Vehicle imports reached US$195 million in March 2026, bringing total vehicle imports in the first quarter of […] - [SEC and University of Kelaniya Renew Partnership to Strengthen Capital Market Education](https://lankabiznews.com/sec-and-university-of-kelaniya-renew-partnership/): SEC and University of Kelaniya Renew Partnership to Strengthen Capital Market Education | The Securities and Exchange Commission of Sri Lanka (SEC) renewed its Memorandum of Understanding (MOU) with the University of Kelaniya on 13 May 2026 with the objective of further strengthening collaboration in the areas of capital market education, industry exposure, and undergraduate […] - [Dr. Chandranath Amarasekara on Energy Pricing: Why Sri Lanka Must Embrace Cost-Reflective Policies and Renewables](https://lankabiznews.com/cbsl-chandranath-amarasekara-on-energy-pricing/): CBSL Chandranath Amarasekara on Energy Pricing | “The truth may be bitter, but it still needs to be told,” said Dr. Chandranath Amarasekara, Deputy Governor of the Central Bank of Sri Lanka, in a recent public lecture. His remarks highlight a fundamental economic reality that Sri Lanka continues to grapple with: as a country heavily […] - [How Sri Lankan Financial and Leasing Companies Can Secure International Funding in 2026: Strategic Pathways to Growth](https://lankabiznews.com/funding-for-sri-lankan-financial-companies/): Funding for Sri Lankan Financial Companies – In an era of economic recovery, regulatory strengthening and digital transformation, Sri Lankan non-bank financial institutions and leasing companies are increasingly exploring international funding sources to support expansion. For institutions aiming to scale lending to MSMEs, promote financial inclusion and strengthen their balance sheets, foreign funding from development […] - [Dhammika Perera’s Rs. 4.6 Billion Investment in Hayleys: What It Signals for Sri Lanka’s Blue-Chip Market](https://lankabiznews.com/dhammika-perera-investment-in-hayleys/): Dhammika Perera Investment in Hayleys | Dhammika Perera’s Rs. 4.6 billion investment in Hayleys PLC has become one of the notable corporate developments reported on the Colombo Stock Exchange in 2026. Through Hayleys’ recently concluded Rights Issue, Perera invested a further Rs. 4.6 billion, strengthening his position in one of Sri Lanka’s most diversified conglomerates. […] - [Sri Lanka-Vietnam Ties Strengthened: A Strategic Boost for Trade, Investment and Economic Diversification](https://lankabiznews.com/sri-lanka-vietnam-ties-open-new-trade-doors/): Sri Lanka – Vietnam Ties Open New Trade Doors | Sri Lanka and Vietnam have set an ambitious target to expand their bilateral trade to US$1 billion by 2030, President Anura Kumara Dissanayake announced following high-level bilateral discussions. This landmark agreement, reached during the visit of the Vietnamese President, signals a new phase of economic […] - [PayPal Set to Launch in Sri Lanka from 15 May 2026: A Game-Changing Milestone for the Digital Economy](https://lankabiznews.com/paypal-set-to-launch-in-sri-lanka-from-15-may/): PayPal Set to Launch in Sri Lanka from 15 May | Sri Lanka’s digital economy is entering a new chapter. In recent weeks, active discussions across business networks, fintech communities, and policy circles have centred on one major development: PayPal services are scheduled to become officially available in Sri Lanka from 15 May 2026. This […] - [Digital Payments in Sri Lanka 2026: Why Convenience Is Driving the Cashless Revolution More Than Cost](https://lankabiznews.com/digital-payments-in-sri-lanka-2026/): Digital Payments in Sri Lanka 2026 | Sri Lanka is accelerating its transition toward a less-cash economy in 2026. The Central Bank of Sri Lanka (CBSL), under Governor Dr. Nandalal Weerasinghe, continues to actively promote digital payments, particularly through the national Lanka QR system. This push reflects a broader recognition that digital transactions offer significant […] - [Sri Lanka External Sector Performance in March 2026: Resilience Amid Emerging Pressures](https://lankabiznews.com/sri-lanka-external-sector-performance-in-march/): Sri Lanka external sector performance in March showed continued resilience in the first quarter of 2026, recording a cumulative current account surplus of US$ 531 million despite a widening merchandise trade deficit and moderation in services performance. According to the Central Bank of Sri Lanka’s latest data released in early May 2026, the country maintained […] - [How Solar, Renewables, and Energy Diversification Can Cut Business Costs in Sri Lanka](https://lankabiznews.com/solar-renewables-and-energy-diversification/): How solar, renewables, and energy diversification can cut business costs in Sri Lanka is no longer a theoretical discussion, it is a practical, high-return strategy for forward-thinking companies facing repeated tariff hikes and volatile fuel prices. With electricity tariffs rising again in April 2026 (industrial users facing an 8.7% increase), businesses that invest in solar […] - [VAT Amendments from July 2026: What Sri Lanka’s Latest Tax Changes Mean for Businesses and Consumers](https://lankabiznews.com/vat-amendments-from-july-2026/): VAT amendments from July 2026 mark another significant step in Sri Lanka’s ongoing tax reforms aimed at broadening the tax base and improving revenue collection. The Ministry of Finance has issued a Gazette notification outlining key changes that will take effect from 1 July 2026. These include imposing VAT on digital and electronic platform services, […] - [Do Sri Lanka’s Tourism Visa Rules Need Stricter Scrutiny to Protect Against Foreign Scam Networks?](https://lankabiznews.com/foreign-scam-networks-in-sri-lanka-and-tourism/): Foreign Scam Networks in Sri Lanka! Do Sri Lanka’s tourism visa rules need stricter scrutiny to protect against foreign scam networks is a question gaining urgency as the country attracts record visitor numbers while facing a rising tide of organised cybercrime involving foreign nationals. In March 2026, authorities arrested 134 foreign nationals including 126 Chinese […] - [What Foreign Direct Investment Trends Tell Sri Lanka About Competitiveness](https://lankabiznews.com/foreign-direct-investment-trends-competitiveness/): FDI flows reflect confidence. Understanding recent foreign direct investment trends can help policymakers and investors alike in Sri Lanka in 2026. After years of post-crisis recovery, the country achieved a major milestone in 2025 with foreign direct investment (FDI) inflows reaching US$ 1,057 million a 72% increase from 2024 and surpassing the US$ 1 billion […] - [Sri Lanka Finance Ministry Cyber Attack: What the Breach Reveals About Digital Vulnerabilities](https://lankabiznews.com/sri-lanka-finance-ministry-cyber-attack/): Sri Lanka Finance Ministry Cyber Attack – Sri Lanka’s Ministry of Finance, Planning and Economic Development has confirmed a significant cyber breach involving the diversion of public funds through unauthorised access to a key government system. Hackers gained access to the computer system of the External Resources Department, resulting in the diversion of approximately USD […] - [CBSL Financial Statements 2025: Did the Central Bank Strengthen Its Position Amid Post-Crisis Recovery?](https://lankabiznews.com/cbsl-financial-statements-2025-profit-balance/): The CBSL Financial Statements 2025 paint a picture of solid balance sheet expansion and improved equity for the Central Bank of Sri Lanka, even as net profit moderated from the previous year. Released under the new Central Bank of Sri Lanka Act, the report highlights how the institution navigated lower revaluation gains while building resilience […] - [How Sri Lanka Can Move Up the Value Chain in Apparel Manufacturing](https://lankabiznews.com/value-chain-in-apparel-manufacturing/): Value chain, not just volume will define Sri Lanka’s competitiveness in global apparel markets in 2026. While the sector remains the country’s largest merchandise export earner, early-year data shows vulnerability: apparel exports fell 2.66% year-on-year in January to US$ 425.44 million and dropped a sharper 11.46% in February to US$ 361.2 million, with cumulative January–February […] - [How Can Sri Lanka Revitalize Trincomalee Oil Storage Tanks Through Strategic Public-Private Partnerships?](https://lankabiznews.com/trincomalee-oil-storage-tanks-and-ppp/): Trincomalee oil storage tanks represent one of Sri Lanka’s most significant yet underutilized colonial-era assets, offering a timely opportunity for energy security and economic advancement. Constructed during British rule as a strategic naval fuel depot, these historic facilities have remained largely dormant for decades. As global energy volatility persists into April 2026, renewed interest in […] - [Is the Jet Fuel Crisis Grounding Global Aviation Amid Middle East Tensions?](https://lankabiznews.com/jet-fuel-crisis-grounding-global-aviation/): Jet fuel crisis grounding global aviation as it is intensifying as geopolitical disturbances in the Middle East, involving the United States and Israel, disrupt critical supply routes and drive unprecedented cost pressures on the aviation sector. The escalation, which began with strikes on Iran on February 28, 2026, and Iran’s subsequent effective closure of the […] - [How Is Sri Lanka Driving Industrial Recovery and Transformation in 2026?](https://lankabiznews.com/sri-lanka-industrial-recovery-and-transformation/): Sri Lanka industrial recovery continues to build positive momentum through coordinated policy reforms, enhanced financing access, and strategic initiatives led by the Ministry of Industries and Entrepreneurship Development. The Q1 2026 progress report titled “Driving Industrial Recovery and Transformation” outlines tangible advancements in modernizing the industrial landscape, expanding support for small and medium enterprises (SMEs), […] - [What Does Sri Lanka Personal Income Tax Update Mean for Employees and Businesses in 2026/27?](https://lankabiznews.com/sri-lanka-personal-income-tax-update/): Sri Lanka personal income tax continues to play a central role in shaping financial planning for individuals and enterprises during the 2026/27 year of assessment. The progressive tax framework, featuring an elevated personal relief and revised slabs, seeks to provide relief to lower- and middle-income earners while ensuring fair contribution from higher earners. This system […] - [Business Strategy Lessons from Story of KFC Outlet - A Global Corporation Pivot](https://lankabiznews.com/business-strategy-lesson-from-story-of-kfc-outlet/): Story of KFC Outlet – Corporate pivots reveal resilience, long-term thinking, and strategic creativity that can inspire businesses everywhere, including in Sri Lanka in 2026. Few stories capture this better than that of KFC and its founder, Colonel Harland Sanders. At an age when most people consider retirement, Sanders transformed a small roadside restaurant serving […] - [Business Strategy Lessons from Netflix - A Global Corporation Pivot](https://lankabiznews.com/business-strategy-lessons-from-netflix/): Business Strategy Lessons from Netflix, Global Corporate pivots reveal resilience, long-term thinking, and strategic creativity that can inspire businesses everywhere, including in Sri Lanka in 2026. One of the most compelling examples is Netflix, which began as a DVD-by-mail rental service in 1998, competing directly with brick-and-mortar video stores. Facing the rise of digital technology […] - [Is Sri Lanka’s Tourism Recovery Itinerary Enough for 2026?](https://lankabiznews.com/sri-lankas-tourism-recovery-itinerary/): Is Sri Lanka’s Tourism Recovery Itinerary Enough for 2026? The industry needs more than seasonal peaks, it needs experience, marketing, and regional value propositions in Sri Lanka in 2026. After a record 2,362,521 tourist arrivals in 2025, the sector started the year strongly with 277,327 visitors in January (up 9.7% year-on-year) and a peak 279,328 […] - [From Colombo to Regional Markets: What Mid-Tier Cities Mean for Business Expansion](https://lankabiznews.com/from-colombo-to-regional-markets-mid-tier-cities/): Regional markets often get ignored but can be growth hubs for commerce, services, and exports in Sri Lanka in 2026. While Colombo remains the primary commercial and financial centre, mid-tier cities such as Kandy, Galle, Jaffna, Trincomalee, and Kurunegala are emerging as attractive alternatives for business expansion. Lower operating costs, improving infrastructure, access to regional […] - [What Sri Lankan SMEs Really Need from Digital Banking and Financial Tech](https://lankabiznews.com/what-sri-lankan-smes-need-from-financial-tech/): Fintech isn’t just about convenience, it’s about financial inclusion and growth capacity for Sri Lankan SMEs in 2026. Small and medium enterprises form the backbone of the economy, contributing around 52% of GDP and nearly 45% of employment, yet many continue to face barriers in accessing timely and affordable finance, managing cash flow and scaling […] - [Post-Pandemic Tourism Strategy: Lessons from Early 2026 Growth Projections](https://lankabiznews.com/post-pandemic-tourism-strategy/): Post-Pandemic Tourism Strategy – Tourism was on a recovery trajectory pre-crisis strategic pivots are needed to sustain gains in Sri Lanka in 2026. After recording a record 2,362,521 tourist arrivals in 2025 surpassing the previous 2018 benchmark, the sector has started 2026 with strong momentum, achieving 277,327 arrivals in January (up 9.7% year-on-year) and a […] - [Why Logistics Infrastructure Investment Matters for Tourism and Export Performance](https://lankabiznews.com/logistics-infrastructure-investment-matters/): Why Logistics Infrastructure Investment Matters for Tourism and Export Performance? Inadequate logistics can slow export growth and hurt travel experience business planners must prioritise this in Sri Lanka in 2026. As the country targets ambitious tourism arrivals of up to 3 million and builds on strong early-year export momentum, efficient ports, airports, roads and supporting […] - [Is Sustainable Clothing the Answer to Toxic Chemicals in Activewear?](https://lankabiznews.com/sustainable-clothing-answer-to-toxic-chemicals/): Sustainable clothing is gaining momentum as regulators and consumers push for safer alternatives amid growing concerns over chemical use in performance apparel. Texas Attorney General Ken Paxton recently launched an investigation into Lululemon over the potential presence of PFAS, or “forever chemicals,” in its activewear. The probe examines whether the brand’s marketing of wellness-focused products […] - [Vehicle Import Policy and Demand: What Business Owners Should Anticipate Next](https://lankabiznews.com/vehicle-import-policy-and-demand/): Vehicle import trends aren’t just consumer concerns — they shape logistics, retail, and SME transport costs in meaningful ways for Sri Lankan businesses in 2026. Following the phased relaxation of import restrictions that began in early 2025, the landscape continues to evolve with significant tax adjustments taking effect from April 2026. The introduction of the […] - [How Digital Marketplaces Are Transforming B2B Business Deals in Sri Lanka](https://lankabiznews.com/digital-marketplaces-b2b-business-in-sri-lanka/): Digital marketplaces that connect capital and opportunities are quietly reshaping how B2B deals get done in Sri Lanka in 2026. Traditional face-to-face negotiations, lengthy paperwork and limited buyer-seller networks are giving way to efficient, transparent online platforms that match suppliers with buyers, facilitate corporate transactions and open access to both local and global capital. Government-backed […] - [Why Every Global Crisis Ends Up at Sea: The Overlooked Power of Shipping in Sri Lanka’s Daily Life and Economy](https://lankabiznews.com/why-every-global-crisis-ends-up-at-sea/): Why Every Global Crisis Ends Up at Sea? Recent global events in early 2026 have repeatedly converged on one sector: marine shipping. From the effective closure of the Strait of Hormuz in March following escalating Middle East conflict to the Red Sea disruptions that persisted from previous years, crises that begin far away quickly translate […] - [Tech Innovation in Sri Lanka: The Rise of Local AI Platforms and Business Use Cases](https://lankabiznews.com/tech-innovation-in-sri-lanka-local-ai-platforms/): Tech innovation in Sri Lanka is no longer confined to outsourcing or basic software services local AI platforms and practical business applications are now delivering real-world value across key sectors. In 2026, Sri Lankan companies are building and deploying homegrown AI solutions that solve local problems while competing on the global stage. From AI-powered chatbots […] - [How Sri Lanka’s Trade Diversification Strategy Could Unlock New Markets](https://lankabiznews.com/sri-lankas-trade-diversification-strategy/): How Sri Lanka’s trade diversification strategy could unlock new markets lies at the heart of the country’s long-term economic resilience and export ambitions. With traditional markets such as the United States and European Union still accounting for nearly half of merchandise exports, over-reliance on a narrow set of partners and products leaves the economy exposed […] - [Why Tea and Coconut Exports Are Rebounding - Diversification Success Stories](https://lankabiznews.com/tea-and-coconut-exports-success-stories/): Why tea and coconut exports are rebounding has become one of the most encouraging chapters in Sri Lanka’s early 2026 export story. While apparel faced headwinds and global uncertainty lingered, traditional agricultural commodities delivered strong, consistent growth that helped stabilise the external sector. In the January–February 2026 period, tea exports rose 2.04% to US$ 236.84 […] - [What Apparel Export Decline Tells Us About Global Demand Shifts](https://lankabiznews.com/apparel-export-decline-and-global-demand-shifts/): What apparel export decline tells us about global demand shifts is that Sri Lanka’s largest export category is now signalling broader changes in international consumer behaviour and market conditions. In February 2026, Sri Lanka’s apparel and textile exports fell sharply by 11.46% year-on-year to US$ 361.2 million, according to Joint Apparel Association Forum (JAAF) data. […] - [How Sri Lanka Customs Beating Revenue Targets Could Impact Trade Efficiency](https://lankabiznews.com/sri-lanka-customs-revenue-and-trade-efficiency/): How Sri Lanka Customs beating revenue targets could impact trade efficiency is turning into one of the more encouraging developments for Sri Lankan businesses in early 2026. In March 2026, Sri Lanka Customs surpassed its monthly revenue target of Rs. 180.4 billion well ahead of schedule, collecting Rs. 184.8 billion within the first 26 days […] - [The Rising Cost of Shipping and Freight - A Hidden Threat to Sri Lanka Exporters](https://lankabiznews.com/the-rising-cost-of-shipping-and-freight/): The rising cost of shipping and freight has quietly emerged as one of the most serious hidden threats to Sri Lanka exporters in early 2026. While global attention often focuses on fuel prices or currency movements, the sharp escalation in ocean freight rates, container transport charges and related surcharges is directly squeezing export margins and […] - [Central Bank Rate Stability in the Face of Global Uncertainty: What Business Planners Should Know](https://lankabiznews.com/central-bank-rate-stability-global-uncertainty/): Central Bank rate stability in the face of global uncertainty has become a defining feature of Sri Lanka’s monetary policy in early 2026. On 25 March 2026, the Monetary Policy Board of the Central Bank of Sri Lanka decided to maintain the Overnight Policy Rate (OPR) at 7.75% for the fourth consecutive review, despite escalating […] - [How Rising Electricity and Energy Tariffs Affect Businesses and Household Budgets](https://lankabiznews.com/rising-electricity-and-energy-tariffs-impact/): How rising electricity and energy tariffs affect businesses and household budgets has become a pressing reality for Sri Lankans following the tariff adjustments announced on 30 March 2026 and effective from 1 April. The Public Utilities Commission of Sri Lanka approved increases ranging from 4.3% for the lowest consumption slab (0–30 units) to 25% for […] - [How One Man and His Brother Built a $1.8 Billion Company With Just $20,000 and AI](https://lankabiznews.com/the-medvi-story-that-rewriting-entrepreneurship/): The Medvi Story That’s Rewriting Entrepreneurship in 2026. In the heart of Los Angeles, a young man who once lived in motels and cars turned a $20,000 investment and two months of relentless work into a company on track to generate $1.8 billion in revenue this year. His only full-time employee? His younger brother. The […] - [Sri Lanka Vein Graphite: Can It Power the Global EV Battery Boom?](https://lankabiznews.com/sri-lanka-vein-graphite-ev-battery-boom/): Sri Lanka vein graphite is gaining fresh global attention as EV battery makers look for high-purity graphite beyond China. With rare natural purity, new policy momentum, and growing value-add ambitions, 2026 could become a turning point for Sri Lanka’s graphite industry. Sri Lanka holds one of the world’s rarest and most valuable natural resources: high-purity […] - [Why Services Exports (ICT/BPM) May Be Sri Lanka’s Next Big Export Engine](https://lankabiznews.com/ict-bpm-services-exports/): Why (ICT/BPM) services exports may be Sri Lanka’s next big export engine is no longer a future possibility, it is already materialising in the data. In February 2026 alone, ICT and BPM services recorded a remarkable 36.66% year-on-year growth, reaching US$ 153.62 million. This surge helped push overall services exports up 14.68% to US$ 334.9 […] - [Claude Code Source Code Leak: What It Means for AI Security and Open-Source Momentum](https://lankabiznews.com/claude-code-source-code-leak/): Claude Code Source Code Leak? – On March 31, 2026, Anthropic accidentally exposed the full source code of its flagship AI coding assistant, Claude Code, through a routine npm package update. The leak involved version 2.1.88 of the @anthropic-ai/claude-code package, which inadvertently bundled a 59.8 MB JavaScript source map file (cli.js.map). This single debugging artifact […] - [How Sri Lanka’s Export Sector Kicked Off 2026 with Strong Momentum and What It Means for Trade Growth](https://lankabiznews.com/sri-lanka-export-sector-strong-momentum/): Sri Lanka Export Sector 2026 – Strong Momentum and What It Means for Trade Growth? It has delivered an encouraging message to exporters, investors, and policymakers alike. Despite lingering global headwinds including geopolitical tensions, shipping disruptions, and volatile energy prices Sri Lanka’s total export earnings recorded robust year-on-year growth in the first two months of […] - [Russia Investment in Sri Lanka: Strengthening Economic Ties Through Oil Talks and Energy Security](https://lankabiznews.com/russia-investment-in-sri-lanka-economic-ties-oil/): Russia investment in Sri Lanka is set to grow as Ceylon Petroleum enters discussions with Russian oil companies to secure vital fuel supplies. This partnership marks a significant step toward strengthening Sri Lanka’s energy security and diversifying its energy sources amid ongoing global supply disruptions. Sri Lanka’s state-run Ceylon Petroleum Corporation has entered into active […] - [31 March 2026: Key Date for Sri Lanka Income Tax Payers and Asset Declarations](https://lankabiznews.com/sri-lanka-tax-year-ends-31-march-2026-preparation/): The Sri Lanka tax year ends 31 March 2026, making it critical for income tax payers and individuals filing asset declarations to have their financial records in order. Ensure that all savings, loans, and investments are documented and ready for filing to meet Inland Revenue Department requirements. 31 March 2026 marks the end of Sri […] - [Which Skills Are Actually Creating Opportunities in Sri Lanka Right Now?](https://lankabiznews.com/skills-in-demand-sri-lanka-jobs-2026/): Skills in demand Sri Lanka are shifting away from degrees alone and toward practical, job-ready abilities. Employers are increasingly looking for AI, cloud, cybersecurity, data, digital marketing, English, and adaptability as the skills that can create faster job opportunities in 2026. Which skills are actually creating opportunities in Sri Lanka right now goes beyond traditional […] - [Why SME Loans in Sri Lanka Are Still Out of Reach for Small Businesses?](https://lankabiznews.com/sme-loans-in-sri-lanka-credit-access-challenges/): SME loans in Sri Lanka remain difficult to access for many small businesses despite improving banking sector conditions. Rising loan rejections and strict collateral requirements continue to expose gaps in Sri Lanka’s lending environment. It remains a critical test of whether the country’s financial system serves the thousands of ordinary small businesses that drive daily […] - [Sri Lanka’s Shipbuilding Industry at Risk? Growth Meets Ownership Uncertainty](https://lankabiznews.com/sri-lanka-shipbuilding-industry-growth-challenges/): Sri Lanka shipbuilding industry is at a critical turning point, balancing proven export capability with rising structural and ownership challenges. The sector has achieved a quiet but significant milestone with the recent completion and delivery of the final vessel in a ten-ship series of advanced, environmentally compliant bulk carriers. The last ship in the order, […] - [Hambantota Port Set for Major Capacity Boost: $108 Million Crane Deal Signals Renewed Momentum in Sri Lanka’s Maritime Sector](https://lankabiznews.com/hambantota-port-set-for-major-capacity-boost/): Sri Lanka’s Hambantota Port has taken a significant step toward becoming a more competitive regional hub with the signing of a $108 million agreement for the procurement of advanced quay cranes and rubber-tyred gantry cranes. Hambantota International Port Group (HIPG) finalised the deal with China’s Shanghai Zhenhua Heavy Industries, one of the world’s leading manufacturers […] - [Are Scam Networks Exposing Sri Lanka’s Digital-Governance Gap?](https://lankabiznews.com/scam-networks-and-sri-lanka-digital-governance/): Are scam networks exposing Sri Lanka’s digital-governance gap has become a critical question that goes far beyond individual fraud cases and strikes at the heart of whether the country’s laws, enforcement agencies, and digital institutions can keep pace with highly organised online crime. The major crackdown on 17-18 March 2026, which led to the arrest […] - [Banks Have Liquidity, But Are SMEs Really Getting Easier Access to Finance?](https://lankabiznews.com/banks-have-liquidity-but-easier-access-for-smes/): Banks have liquidity, but are SMEs really getting easier access to finance remains one of the most pressing questions facing Sri Lanka’s private sector in 2026. The banking system ended 2025 with a Rs. 175.2 billion liquidity surplus, up from Rs. 168.1 billion the previous year, while sector profits rose 19.3% to Rs. 369 billion. […] - [Can Sri Lanka Maintain Stability Amid Middle East Tensions?](https://lankabiznews.com/sri-lanka-maintain-stability-amid-global-tensions/): Can Sri Lanka Maintain Stability Amid Middle East Tensions? The Central Bank of Sri Lanka (CBSL) has decided to keep its key policy rate unchanged, signalling continued confidence in the country’s economic recovery. In its Monetary Policy Review No. 02 of 2026, released on 25 March 2026, the Monetary Policy Board left the Overnight Policy […] - [Can Sri Lanka Protect Its Food Supply by Fixing Pricing Problems and Focusing on Key Crops Amid Rising Global Risks?](https://lankabiznews.com/sri-lanka-food-supply-pricing-reforms-global-risk/): Sri Lanka’s food supply is under growing pressure as global uncertainties continue to disrupt agricultural costs and production. Speaking at a recent CMA Sri Lanka forum, Professor Buddhi Marambe (Department of Crop Science of Faculty of Agriculture, University of Peradeniya) stressed the need for a fundamental shift in how the country approaches pricing, warning that […] - [Why Households in Sri Lanka Are Being Forced into Reactive Living](https://lankabiznews.com/why-households-in-sri-lanka-into-reactive-living/): Why households in Sri Lanka are being forced into reactive living stems from repeated global and domestic shocks that turn every family budget into a daily survival calculation rather than a platform for long-term dreams. No longer can parents confidently plan for a child’s university education, save for a home, or invest in a small […] - [Tourism Weakness Is More Than a Travel Problem: What It Means for Sri Lanka’s Economy](https://lankabiznews.com/what-tourism-weakness-means-for-sri-lanka-economy/): Tourism weakness is more than a travel problem, when visitor numbers slow or spending drops, the shock waves spread far beyond hotel lobbies and beach resorts, touching every corner of Sri Lanka’s economy in ways that affect daily business operations, household incomes, and national stability. Picture idle taxis queuing at Bandaranaike International Airport, farmers with […] - [SEC and CSE Strengthen Role of Auditors of Watchlist Companies](https://lankabiznews.com/sec-and-cse-strengthen-role-of-auditors/): The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) jointly organized an awareness session recently, for auditors of companies which are currently on the CSE Watchlist. The session focused on enhancing awareness of enforcement actions and timelines, reducing prolonged Watchlist durations, and fostering a more coordinated regulatory approach among […] - [What Permanent Solutions Could Make Daily Life More Stable in Sri Lanka](https://lankabiznews.com/permanent-solutions-make-daily-life-more-stable/): What permanent solutions could make daily life more stable in Sri Lanka lies in shifting from reactive crisis management to proactive, structural systems that insulate households, businesses, and essential services from global shocks. Imagine a Sri Lanka where fuel queues and sudden price spikes no longer paralyse morning commutes or hospital operations, where power remains […] - [Will Sri Lanka’s Fuel Prices and Private Bus Services Collapse Today as the Strait of Hormuz Stays Blocked?](https://lankabiznews.com/sri-lanka-fuel-prices-strait-of-hormuz-crisis/): Sri Lanka is experiencing a sharp Sri Lanka Fuel Prices increase on March 22, 2026, as global oil supply disruptions intensify due to the ongoing crisis in the Strait of Hormuz. The Ceylon Petroleum Corporation (CPC) revised fuel prices from midnight, raising the cost of all fuel types. The situation is linked to escalating tensions […] - [Could Sri Lanka’s Mattala Rajapaksa International Airport Become a Backup Hub for Emirates and Qatar Airways Amid Middle East Chaos?](https://lankabiznews.com/mattala-airport-backup-hub-emirates-qatar/): Sri Lanka’s Mattala Airport, once called a white elephant and a “ghost airport” because of its empty runways, is suddenly in the spotlight. On March 20, 2026, aviation analyst Ben Schlappig described the idea of turning it into a hub for Emirates and Qatar Airways as “not a bad idea.” The comment, shared widely on […] - [Santani Wellness Retreat in Sri Lanka Oscars 2026 Swag Bag: How Can Sri Lanka Spread the News Organically?](https://lankabiznews.com/santani-wellness-retreat-in-sri-lanka-oscars-2026/): The Santani wellness retreat in Sri Lanka has secured a standout place in the Oscars 2026 “Everyone Wins” nominee gift bag, offering 25 Hollywood A-listers a 10-day restorative reset in Kandy’s highlands. This verified global exposure arrives exactly when Sri Lanka needs organic reach amid aviation disruptions. With thousands of international visitors already extending stays […] - [Why Sri Lanka Becomes Vulnerable During Every Major Global Crisis](https://lankabiznews.com/why-sri-lanka-becomes-vulnerable-in-global-crisis/): Why Sri Lanka becomes vulnerable during every major global crisis is rooted in its profound structural dependence on imported essentials and external revenue streams that collapse the moment worldwide instability erupts. When distant conflicts or pandemics disrupt supply chains, energy markets, or travel flows, the effects do not remain offshore they rapidly translate into empty […] - [Sri Lanka Must Reform Business Environment to Unlock FDI Growth](https://lankabiznews.com/sri-lanka-business-environment-to-attract-fdi/): Why Sri Lanka Must Build a Transparent Business Environment to Attract FDI, Says Chinese Ambassador Qi Zhenhong | Qi Zhenhong has called on Sri Lanka to urgently improve its business environment to attract stronger foreign direct investment (FDI), stressing the need for policies that are fair, transparent, open, and stable. Speaking on March 14, 2026, […] - [SatynMag Partners with Hemas Leadership Academy to Empower Women with Satyn Circle](https://lankabiznews.com/satynmag-partners-with-hemas-leadership-academy/): SatynMag, Sri Lanka’s premier digital platform dedicated to the professional and personal advancement of women, has officially partnered with the Hemas Leadership Academy for the exclusive career development portal, Satyn Circle. This partnership enhances the professional development and career empowerment potential for the Hemas’ flagship women’s leadership program, ElevateHER. Satyn Circle is a cutting edge […] - [Can Tesla and xAI's Macrohard 'Digital Optimus' Truly Emulate Entire Companies with AI Agents?](https://lankabiznews.com/tesla-and-xais-macrohard-digital-optimus/): On March 11, 2026, Elon Musk revealed a groundbreaking joint initiative between Tesla and xAI: a project codenamed Macrohard (also referred to as Digital Optimus). This AI system is designed to emulate the full operational functions of software companies by autonomously controlling computers, reading screens, processing keyboard and mouse inputs in real time, and executing […] - [How Middle East Conflict Threatens Urea Fertiliser Supply and Farmer Costs](https://lankabiznews.com/middle-east-conflict-affect-urea-fertiliser/): Sri Lanka’s agriculture sector, which supports millions of farming families and underpins food security and export earnings, faces a new external risk in March 2026. The ongoing Middle East conflict has triggered severe disruptions to shipping through the Strait of Hormuz, a critical chokepoint for global fertiliser trade. Urea, Sri Lanka’s most widely used nitrogen […] - [Sri Lanka Fuel Price Hike March 2026: Rs. 22–25 Increase in Diesel and Petrol – Full Impact on Economy, Businesses and Daily Life](https://lankabiznews.com/sri-lanka-fuel-price-hike-march-2026/): Sri Lanka Fuel Price Hike | The Ceylon Petroleum Corporation (Ceypetco) has implemented a fresh round of fuel price revisions effective from midnight on 9 March 2026, driven by rising global crude oil prices linked to ongoing Middle East tensions. This marks the second adjustment in just over a week and delivers noticeable increases across […] ## Pages - [Terms & Conditions](https://lankabiznews.com/terms-conditions/): Terms and Conditions Effective Date: 2025/04/22Website: https://lankabiznews.com Welcome to LankaBizNews. By accessing or using our website, you agree to follow and be bound by the terms listed below. Please read them carefully. 1. Acceptance of Terms By using our site, you agree to these Terms and Conditions. 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