Elon Musk’s Starbase city in Texas on brink of becoming official
An election on Saturday is likely to incorporate a new city on the southern tip of Texas dominated by Elon Musk’s SpaceX company. Local residents are voting on incorporating a patch of land known as Boca Chica Village as a new municipality called Starbase. Most of the 283 eligible voters are SpaceX employees, and most […]
Talks or no talks: who blinks first in US-China trade war?
On Friday morning, a spokesperson for China’s ministry of commerce announced that Beijing was assessing the possibility of tariff negotiations with the United States. It was news the rest of the world had been waiting to hear as astonishingly high tariffs – up to 245% on some Chinese exports to the US – throttle trade […]
IMF Reaches Staff-Level Agreement on the Fourth Review under the Extended Fund Facility with Sri Lanka
After constructive discussions in Colombo and during the International Monetary Fund (IMF) and World Bank Spring Meetings in Washington DC, IMF Mission Chief for Sri Lanka Evan Papageorgiou issued the following statement: “IMF staff and the Sri Lankan authorities have reached a staff-level agreement on the Fourth Review of Sri Lanka’s reform program supported by […]
Uber supported Economic Growth in Sri Lanka with LKR 160 Billion of Economic Activity in 2024
Uber has released findings from its 2024 Sri Lanka Economic Impact Report, compiled by global policy research firm Public First. The report highlights how Uber and Uber Eats together contributed LKR 160 billion in economic activity last year—underscoring their growing role in delivering flexible earning opportunities, expanding access to safer, affordable transportation, and helping local businesses reach […]
Global Economy Faces ‘Critical Juncture’ Amid Policy Shifts, Says IMF
The International Monetary Fund (IMF) released its latest World Economic Outlook (WEO) on April 22, 2025, titled “A Critical Juncture Amid Policy Shifts.” Presented by IMF Economic Counsellor Pierre-Olivier Gourinchas, Deputy Director Petya Koeva Brooks, and Division Chief Deniz Igan, the report highlights a significant downgrade in global growth forecasts, driven by escalating trade tensions and policy uncertainty. Below […]
BOI Benchmarked for Promoting Gender Equity and Women’s Empowerment among the Investment Promotion Agencies Worldwide
The leading FDI Strategist, The FDI Center, published the report “Advancing Gender Equality in Investment Promotion: A Practical Guide for IPAs”, in which BOI Sri Lanka was featured as a best practice case study for recommendation 2.4 of the report: Conduct regular staff training sessions promoting gender equality and women’s empowerment. The BOI is recognized for […]
US lays out plans to hit Chinese ships with port fees
he Trump administration has unveiled its plan to impose port fees on Chinese ships as it tries to revive shipbuilding in the US and challenge China’s dominance of the industry. The US Trade Representative’s (USTR) announcement is less severe than a plan floated in February to hit Chinese vessels with charges of up to $1.5m […]
Adani’s Colombo Terminal Commences Operations
A Landmark Achievement in India–Sri Lanka Maritime Partnership The first fully automated terminal in Colombo Port is now operational, setting new standards in reliability and performance. The Colombo West International Terminal (CWIT) will significantly enhance Colombo Port’s capacity and ease congestion, boosting overall efficiency. The CWIT project is expected to generate employment and contribute meaningfully […]
President meets IMF delegation to discuss Sri Lanka’s fourth review
President Anura Kumara Dissanayake has held discussions with the representatives of the International Monetary Fund (IMF) this morning (07) at the Presidential Secretariat. The discussions were centred on the preliminary review associated with the fourth tranche of Sri Lanka’s Extended Fund Facility (EFF) arrangement with the IMF, the President’s Media Division (PMD) said in a […]
How Trump’s new US tariffs can impact Sri Lanka’s exports
The higher trade tariffs imposed by the United States on Sri Lanka can put a significant number of jobs in the country’s apparel industry at risk in the near future, warns Professor Wasantha Athukorala from the Department of Economics and Statistics at the University of Peradeniya. On Wednesday, US President Donald Trump announced a sweeping […]