News

Trump announces 44% tariffs on Sri Lanka

Published

3 months ago

April 3, 2025

editor

Donald Trump announced a sweeping new set of reciprocal tariffs on Wednesday (April 02), arguing that they would allow the United States to succeed.

Trump’s tariffs, which he imposed via executive order, are expected to send economic shockwaves around the world. The White House released a list of roughly 100 countries and the tariff rates that the US would impose in kind.

The tariffs will come into effect on different dates over the next week as follows :

Today, 00:01 ET (05:01 BST) 25% tariff on all foreign-made automobiles
April 5 12:01 (ET) (05:01 BST) baseline 10% tariff for all countries
April 9 12:01 (ET) (05:01 BST) higher reciprocal rates

U.S. stock futures dropped sharply after the announcement, following weeks of volatile trading as investors speculated about how the incoming tariffs might affect the global economy, inflation and corporate earnings. U.S. stocks have erased nearly $5 trillion of value since mid-February.

In the Asian region, tariffs range from Singapore’s relatively low 10% and Philippines’ 17% to 48% on Laos and 49% on Cambodia.

34% tariffs have been imposed on China while 26% tariffs have been imposed on India.

According to the list, Sri Lanka will face 44% tariffs which will be a significant blow as 25% of Sri Lanka’s exports are sent to the US.

News

Rajitha & Wimal fail to appear before CIABOC

Published

4 minutes ago

July 3, 2025

editor

Former Minister of Fisheries and Aquatic Resources Development – Rajitha Senaratne has not appeared before the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) yesterday (July 02), citing ill health.

He faces charges of causing a financial loss to the government by allegedly awarding a sand mining project at the Kirinda Fisheries Harbour to a Korean company, bypassing government procurement procedures.

The CIABOC’s Special Investigations Chief Inspector had formally summoned Senaratne to provide a statement at 9.00 am yesterday, but one of his lawyers submitted a letter claiming Senaratne was unwell and therefore unable to attend.

Meanwhile, former Minister of Construction and Housing – Wimal Weerawansa was also summoned to give a statement regarding investigations into the sale of certain shops during his tenure.

He too has requested a new date, stating that he is unable to appear on the scheduled day.

(Source: Dinamina)

News

Court summons ex-AGM of People’s bank over major fraud

Published

1 hour ago

July 3, 2025

editor

The Attorney General has filed a case against one Vithanage Don Dayananda, a former Assistant General Manager (AGM) at People’s Bank head office, for allegedly preparing and using a forged document related to a Rs.2,000 million personal guarantee bond.

Colombo High Court Judge Lanka Jayaratne has fixed the case (HC 39/2019) for trial on October 30. When the case was called on July 01, the accused had appeared in court.

It is alleged that around June 01, 2006, in Colombo, the accused knowingly prepared a forged document purporting to show that a personal guarantee bond, allegedly signed and dated July 27, 1995, by directors of Yashoda Holdings (Pvt) Ltd.had been submitted to the bank’s head office.

Despite being well aware that the document was a forged one, he had allegedly presented it as genuine evidence during the Commercial High Court Case No. 122/2004.

Therefore, the Attorney General has charged him under Section 459 of the Penal Code.

Related News :

Court orders CID to probe Rs.90 mn. fraud at People’s Bank

News

2nd round of Grade 06 admission appeals open online today

Published

2 hours ago

July 3, 2025

editor

The Ministry of Education has announced that online appeals for the second round of Grade 06 admissions in 2025, based on the 2024 Grade 05 Scholarship Examination results, can be submitted from today (July 03) until July 17.

Parents or guardians can submit appeals for up to three schools by visiting the official website of the Ministry of Education at www.moe.gov.lk or directly via the extension at g6application.moe.gov.lk.