Author: LMD International

Sri Lanka’s first leftist president has surprised investors by embracing pro-market reforms in his first year, and plans fresh steps to boost investment and energy supplies after crippling shortages during the 2022 economic collapse, officials say. President Anura Kumara Dissanayake’s election promise to rework a $2.9 billion IMF bailout and seek better terms from creditors had raised investor concerns. But Dissanayake, who is also the finance minister, has largely honoured commitments made by the previous administration, including raising energy tariffs and dismantling the money-losing state power monopoly despite worker protests. Government ministers and officials said some steps will be painful for many…

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Nikkei – August 8, 2025 COLOMBO — From apparel brands like Gap, Levi’s and Columbia Sportswear to designer labels like Calvin Klein, Ralph Lauren and Tommy Hilfiger to lingerie boutique Victoria’s Secret, Sri Lanka has long been recognized as an ethical and trusted apparel source. But now the island’s largest forex-earning industry is facing a fresh and formidable challenge: a 20% tariff on exports to the U.S., its largest customer. The rate took effect on Thursday. The big question, said Yohan Lawrence, secretary general of the Joint Apparel Association Forum, will be whether Americans can afford the added expense and…

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