durian Sri Lanka trade gap, Sri Lanka trade deficit 2024, Sri Lanka imports and exports Sri Lanka trade balance, current trade deficit Sri Lanka, Sri Lanka economic crisis trade Sri Lanka trade statistics, export vs import Sri Lanka, trade gap analysis Sri Lanka
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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…

tax on fixed deposits, fixed deposit interest tax, TDS on fixed deposits, fixed deposit tax rate 2024
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How to Claim Withheld Tax on Fixed Deposits
Applicable for Individuals Earning Less Than Rs. 1.8 Million Annually

ByEditor

From April 1, 2025, the withholding tax on interest from fixed deposits in Sri Lanka has been increased from 5% to 10%. However, the Inland Revenue Department (IRD) states that individuals whose total annual income is less than Rs. 1.8 million are eligible to claim a refund of the tax deducted on interest. To do…

Sri Lanka Economy sri lanka economic crisis
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US Tariff Hike May Deepen Sri Lanka’s Economic Struggles
Fitch Warns

ByEditor

Sri Lanka’s fragile economy could face further strain following the United States’ recent tariff hikes, warns Fitch Ratings. The global credit rating agency stated that countries with low external buffers and high debt burdens, like Sri Lanka, are particularly vulnerable to the ripple effects of the escalating US trade war. Currently rated CCC+, Sri Lanka…

yoghurt යෝගට් වල ගුණ යෝගට් හදන හැටි යෝගට් කප් යෝගට් හැඳි
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Sri Lanka to Reduce Prices of Liquid Milk and Yoghurt
After theFollowing VAT Exemption VAT Exemption

ByEditor

The prices of liquid milk and yoghurt made from locally sourced fresh milk are expected to decrease following the Sri Lankan government’s recent decision to exempt these products from Value Added Tax (VAT). This tax relief follows the enactment of the Value Added Tax (Amendment) Act No. 04 of 2025, which received certification on 11…

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Election Monitoring Groups Face Funding Shortages
Fewer Election Observers This Time

ByEditor

The upcoming Local Government Elections, scheduled for May 6 are seeing a notable decline in public interest. Now, election monitoring efforts are also expected to be scaled back due to financial constraints faced by independent observer organisations. The recent decision by USAID to suspend funding for non-governmental projects has had a significant impact, leading to…

Aswesuma Cover Aswesuma Welfare Payments Aswesuma Online Application Aswesuma New Rules 2024
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Aswesuma Welfare Program to Expand to 400,000 New Beneficiaries
President Anura Kumara Dissanayake

ByEditor

President Anura Kumara Dissanayake announced a major expansion of the Aswesuma welfare scheme, pledging to include an additional 400,000 individuals under the program. The move is part of the government’s broader effort to strengthen the country’s social safety nets and extend support to low-income and vulnerable groups. The announcement follows a Cabinet decision on March…

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Rice, Egg, Fish, Meat Prices Down, Coconut and Coconut Oil Prices Up Compared to Last Year
World Food Programme’s March 2025 Market Monitor

ByEditor

Sri Lanka’s economy expanded by 5.0% in 2024, marking a strong recovery from the 2.3% contraction in 2023, according to the World Food Programme’s March 2025 Market Monitor. The growth was largely driven by the industrial sector, which surged to 11% growth, while services saw modest expansion. However, agriculture lagged, posting a 0.2% annual decline…

AI image of Trincomalee Harbour
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The Importance of an Energy Hub in Sri Lanka
UAE–India–Sri Lanka Cooperation in Trincomalee

ByEditor

Ajith Perakum Jayasinghe What is an energy hub? An energy hub is a strategically located site for storing, refining, and distributing energy resources such as petroleum, natural gas, and electricity. According to the International Energy Agency (IEA), energy hubs are “key nodes that enable flexible energy flows, ensuring balance and stability across interconnected systems.” Globally,…

Sri Lankan tution class උසස් පෙළ ටියුෂන්
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Will Tuition Classes Be Taxed Soon?
Rs. 210 Billion Annual Tuition Economy Under Scrutiny

ByEditor

According to a report published by the state-owned Silumina newspaper on April 6, the Sri Lankan government is considering the possibility of imposing taxes on tuition classes. The government, which recently increased salaries for public sector employees, is now focusing heavily on boosting tax revenue. Prof. Wasantha Athukorala, Director of the Postgraduate Institute of Humanities…

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…