The 2025 Budget: A Pro-Business Approach with a Focus on Effective Implementation
The 2025 budget has been widely recognized as a market-oriented, pro-business initiative. The sentiment was strongly echoed during a keynote speech at the KPMG 2025 Budget Forum. The focus now shifts to the crucial aspect of implementation, which is pivotal for Sri Lanka’s economic advancement within the next year. The budget appears to break away […]
End-of-Year Tourist Transactions Up by 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(Tourist Transactions). Visa Consulting & Analytics (VCA), Visa’s advisory arm, highlighted key findings of consumer […]
What to Expect from Sri Lanka’s Maiden Budget for 2025
Introduction Sri Lanka’s first budget for 2025 is poised to be a landmark event under the leadership of President Anura Kumara Dissanayake. With a focus on fiscal stability and equitable economic growth, this budget comes at a critical time as the nation seeks to navigate through its economic recovery. Here’s what stakeholders and citizens can […]
ADB Pledges $900 Million in Support for Sri Lanka’s Development in 2025
Strengthening Economic Stability and Infrastructure The Asian Development Bank (ADB) has committed an indicative $900 million to bolster Sri Lanka’s development across various sectors in 2025, signaling robust support for the island nation’s ongoing efforts toward macroeconomic stability and infrastructural enhancement. This funding initiative is set to fortify critical sectors such as power, agriculture, finance, […]
Comprehensive Strategy Announced to Resolve Passport Delays in Sri Lanka
In a promising development for citizens and travelers alike, the Department of Immigration and Emigration (DIE) has pledged to eradicate the extensive passport queues plaguing Sri Lanka by early April(Passport Delays), just in time for the Sinhala and Tamil New Year celebrations. This commitment comes as a relief to many who have faced the brunt […]
Sri Lanka Gears Up for Crucial Anti-Money Laundering Evaluation Amid Global Scrutiny
Sri Lanka is bracing for a pivotal moment in its financial regulatory landscape as it prepares for its third Mutual Evaluation on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). This assessment, coordinated by the Asia Pacific Group on Money Laundering (APG), will determine the country’s compliance with international standards set by the Financial […]
Nationwide Power Outage Highlights Urgent Need for Grid Improvements
On February 9, 2025, Sri Lanka experienced a severe power outage that lasted six hours, disrupting daily life and economic activities across the nation. The blackout, which began around 11:15 a.m., quickly escalated to a complete power failure reported by the Ceylon Electricity Board (CEB) by approximately 11:45 a.m. This incident not only caused significant […]
Sri Lanka’s Tourism Industry: A Surge in Visitor Arrivals in 2025
Sri Lanka’s tourism sector has kicked off 2025 with impressive momentum, recording over 300,000 visitor arrivals so far this year(Tourism Industry). The first week of February alone witnessed more than 50,000 tourists entering the country, according to the Sri Lanka Tourism Development Authority (SLTDA). This surge in arrivals marks a significant uptick from the previous […]
Revitalizing the Sri Lankan Coconut Industry: A $2 Billion Vision
The Sri Lankan coconut industry is embarking on an ambitious journey to elevate its global standing with a 10-year strategic plan aimed at achieving a $2 billion export target. This initiative, bolstered by support from the European Union and orchestrated by the United Nations Industrial Development Organization (UNIDO), symbolizes a concerted effort to harness both […]
Sri Lanka’s Debt Restructuring with Japan: A Leap Towards Economic Stability
Sri Lanka is poised to finalize a landmark agreement on debt restructuring with Japan, a move that marks a significant milestone in the island nation’s journey towards economic recovery and stability. This step forward comes after the Sri Lankan Cabinet of Ministers gave the green light to sign crucial documents with the Japan International Cooperation […]