The Free Trade Zone Manufacturers Association (FTZMA), the sole trade chamber representing export-oriented companies under the purview of the Board of Investment (BOI), extended its congratulations to the National People’s Power (NPP) for its landslide victory in the recent General Elections. In a statement, the FTZMA lauded the NPP’s success as a testament to the
The Colombo Stock Exchange (CSE) displayed a subdued response to the National People’s Power (NPP) party’s historic landslide victory in last week’s General Election. Despite the NPP securing a supermajority in Parliament and setting several election records, the stock market remained indifferent on its first day of trading following the election. On the day after
Former President and United National Party (UNP) leader Ranil Wickremesinghe has urged the government to update the public in the coming days on the progress of its ongoing discussions with the International Monetary Fund (IMF). Speaking at a rally in Athurugiriya on October 28, he underscored the importance of transparency in significant decisions related to
The Criminal Investigation Department (CID) has recorded a statement from Namal Rajapaksa, National Organiser of the Sri Lanka Podujana Peramuna (SLPP), regarding a financial transaction complaint filed by a Malaysian businessman. The inquiry, which lasted over two hours, took place at the CID headquarters, where Rajapaksa arrived at 9:00 a.m. with his legal team. Before
Fitch Ratings has noted that political risks to Sri Lanka’s debt restructuring process have reduced following the authorities’ endorsement of the IMF programme targets and agreement to proceed with debt restructuring terms established with international bondholders in September. The election of Anura Kumara Dissanayake as president in September had initially caused uncertainty, raising concerns over
President Anura Kumara Dissanayake has appointed Duminda Hulangamuwa, Chairman of the Ceylon Chamber of Commerce (CCC), and Professor Dr. Anil J. Fernando from Sri Jayewardenepura University as Senior Consultants of Economic Affairs. This appointment, effective September 24, 2024, is honorary in nature and aims to provide expert advice on economic and financial matters. Duminda Hulangamuwa,
President Anura Kumara Dissanayake announced that Japan has reiterated its commitment to resume 11 halted development projects in Sri Lanka, with support for the new government’s initiatives. Although these assurances were first made in July, Japan continues to pledge full backing for these projects. In July, a Japanese delegation discussed with then-president Ranil Wickremesinghe the
Prominent business leader and co-founder of Expolanka Holdings PLC, Hanif Yusuf, has been appointed as the Governor of the Western Province by Sri Lankan President Anura Kumara Dissanayake. Yusuf was sworn in alongside several other new provincial governors at a ceremony held yesterday. The new appointees include: Hanif Yusuf’s appointment brings a wealth of leadership
Presidential candidate Anura Kumara Dissanayake has attributed Sri Lanka’s 2022 financial crisis to incumbent President Ranil Wickremesinghe, while largely absolving former President Gotabaya Rajapaksa. Speaking at an election rally, Dissanayake claimed that Wickremesinghe was the architect of the crisis, whereas Rajapaksa’s missteps stemmed from ignorance. “They ended essential supplies like oil, gas, and electricity. Ranil
Sri Lanka’s economy will remain stable under the National People’s Power (NPP) administration, according to party leader Anura Kumara Dissanayake. Addressing the business community, Dissanayake emphasized that while economic changes will be made, they will be carefully assessed to prevent any destabilization. Dissanayake assured that the NPP’s approach is not driven by populist politics, citing