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China’s Mega Projects in Sri Lanka Face Delays
Amid Demands for More Concessions

ByEditor

Two major Chinese-backed projects in Sri Lanka — the Sinopec oil refinery in Hambantota and the Colombo Port development — have reportedly been delayed. According to sources, Sinopec has requested to increase the originally agreed local market supply quota of 20% for its oil products. The massive export-oriented refinery project, which involves an investment of…

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Vehicle Imports Resume to Sri Lanka
1,560 Used Cars Arrive

ByEditor

Vehicle imports to Sri Lanka have resumed following the lifting of the import ban on February 1, but high taxes continue to limit sales, market sources say. New vehicle importers are currently processing orders, and it typically takes about four to six months for a new vehicle to arrive. Importers are required to register imported…

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Sri Lanka’s Trade Gap with China Hits Record High, Exceeding US$4 Billion
Imports from Sri Lanka in 2024 barely higher than the worth of durian fruit it imported from Malaysia

ByEditor

China’s trade surplus with Sri Lanka surged to an all-time high of over US$4 billion (Rs. 1.195 trillion) in 2024, nearly doubling from the previous year and highlighting the growing imbalance in bilateral commerce. According to official data, Sri Lanka exported just US$251.91 million worth of goods to China in 2024 — a 2% decline…

BoC
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Bank of Ceylon to Issue Rs. 15 Billion in Debentures Soon
Initial issue valued at Rs. 10 billion, with option to extend amid high demand

ByEditor

The Bank of Ceylon (BoC) has announced plans to issue 100 million debentures valued at Rs. 100 each, totaling Rs. 10 billion. The bank also intends to issue an additional 50 million debentures worth Rs. 5 billion if there is high investor demand, bringing the potential total to Rs. 15 billion. Fitch Ratings has assigned…

Parate law of Sri Lanka
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Parate Law Reinstated in Sri Lanka:
A Looming Threat to Small and Medium Enterprises

ByEditor

The reimplementation of the controversial Parate Execution Law in Sri Lanka has sparked renewed debate across the business and legal sectors. The law, under the Recovery of Loans by Banks (Special Provisions) Act No. 4 of 1990, allows licensed commercial banks to auction properties mortgaged against loans without judicial proceedings if borrowers fail to settle…

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India and China Battle for Dominance in Sri Lanka’s Vehicle Market
Tata, Maruti Suzuki, Mahendra, BAIC Micro, BYD etc.

ByEditor

Sri Lanka’s automobile market has become a focal point for competition between Indian and Chinese automobile manufacturers, each striving to establish a strong presence in this strategically located island nation. ​ Indian Automotive Influence Indian automobile manufacturers have a longstanding relationship with Sri Lanka, historically dominating sectors such as motorcycles and three-wheelers (tuk-tuks). Prior to 2020,…

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A woman in male-dominated funeral directing
Sepalika Nilmini of Deyyandara

ByEditor

Sri Lanka’s funeral directing industry is traditionally male-dominated, with very few women engaged in the profession. However, a woman from Deyyandara in the Southern Province has broken this norm by managing a funeral parlor and handling all funeral services, including preparing and embalming bodies. Ranawaka Sepalika Nilmini took over the family-owned Deyyandara Mal Shalawa (funeral…

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Is a property tax on the way?
A progressive tax levied by many states

ByEditor

At a press conference regarding the third review of Sri Lanka’s Extended Fund Facility from the International Monetary Fund (IMF), Sri Lanka Representative Peter Brewer highlighted the need for a property tax to ensure long-term economic stability. A property tax is a progressive tax imposed on the wealth of property owners, commonly practiced in many…

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Is CEB discouraging roof-top solar power?
Will the unit price be further reduced?

ByEditor

The Ceylon Electricity Board (CEB) is reportedly working to discourage solar power supplied to the national grid from rooftop solar panels, aiming to limit the amount of solar power acquired. Currently, the CEB pays Rs. 27 per unit for up to 500 kilowatts of roof-top solar energy supplied to the grid and Rs. 23 per…