Colombo, July 29, 2025 Sri Lanka Customs has detained nearly 1,000 Chinese-made BYD Atto 3 electric vehicles across six consignments amid a dispute over the declared motor capacity. The vehicles were documented as having a 100 kilowatt (kW) motor, attracting an excise duty of around Rs. 2.4 million per unit. However, Customs suspects the actual […]
Colombo, July 29, 2025 In a significant development for Sri Lanka’s financial landscape, official data reveals that resident investors in the country have begun purchasing restructured International Sovereign Bonds (ISBs) from foreign holders during the first quarter of 2025. This marks a notable shift in bond ownership following the government’s major debt restructuring program concluded […]
In a landmark ruling today, Sri Lanka’s Supreme Court has ordered the owners of the X‑Press Pearl cargo ship to pay USD 1 billion in compensation for the massive environmental and economic damage caused by the ship’s fire and sinking off the coast of Colombo in May 2021. The court found the shipowners responsible for […]
