Business
Sri Lanka pavilion shines through

Expo 2020 Dubai update
The Sri Lanka Pavilion continued to attract large numbers of visitors to Expo 2020 – result of the concerted efforts of Sri Lanka Tourism along with partners to date – Export Development Board, Ceylon Tea Board, Sri Lankan Airlines, Consulate of Dubai and with the excellent and willing corporation of the Ambassador to the United Arab Emirates.
EXPO 2020 DUBAI, a prestigious global event commenced on 1st October and will run until 31st March 2022. Situated across 438 hectare area, that is around 1083 acres, of desert land held with the participation of 192 countries under the thematic districts of Opportunity, Mobility and Sustainability and the Sri Lanka Pavilion positioned in the ‘Opportunity District’ of the Expo Village. The space allocated is a 212 sq meter area, assigned free of charge, by Expo 2020 Dubai.
The Sri Lanka Pavilion is built on a design concept given by a team from the Moratuwa University, which won the design award selected and awarded by expo officials. This was when the Export Development Board (EDB) was taking the lead, from 2018, in representing Sri Lanka at Expo 2020. Based on the design and approvals from the Organisers of Expo 2020 Dubai the pavilion showcases the hydraulic civilization of Sri Lanka and is being presented in a manner to attract tourists to the Island. In a visual journey keeping in mind the unique position of Sri Lanka as an authentic, compact and diverse destination. Silent display screens take visitors on a journey through history, culture, nature, people, and the many facets of a visit to the Island will entail, through the medium of storytelling, via video and digital content. This has been successfully achieved while retaining the essential features of the design. Some features of the design aspect have had to be adjusted to keep with climatic and health and safety conditions of the location of Expo 2020; it has not resulted in any additional cost to Sri Lanka. The entire pavilion construction was facilitated at zero cost to Sri Lanka courtesy of Expo 2020 Dubai.
Business
European Union has a favorable perspective on the current GSP+ review process.- Charles Whiteley

The Head of South Asia Division, European External Action Service of the European Union Charles Whiteley stated that the European Union has a favorable perspective on the current GSP+ review process.
He made these remarks during a meeting held today (30) at the Presidential Secretariat with President Anura Kumara Disanayake, as part of an official visit by a European Union delegation to Sri Lanka.
Mr. Whiteley highlighted the longstanding partnership between Sri Lanka and the EU, which has led to significant trade gains. He affirmed the EU’s willingness to continue supporting Sri Lanka in achieving further commercial progress.
He stated that the GSP+ concessions from the European Union are anticipated to encourage Sri Lanka to provide products that meet standardized quality requirements. He further said that the continuation of GSP+ trade concession is assessed on alignment with the current government’s policy commitments and progress.
The meeting assessed Sri Lanka’s advancements in executing 27 international conventions related to the European Union’s GSP+ tax concession, known as the Generalized System of Preferences.
President Disanayake expressed his gratitude for the EU’s assistance during Sri Lanka’s economic crisis. He acknowledged that the GSP+ facility has played an important role in supporting the country’s export sector and economic recovery.
The President further noted that the collapse of Sri Lanka’s economy was the result of a deeply flawed political system, marked by corruption and mismanagement. The President stated that the current administration is working to rebuild the country through stable and transparent governance, though this transformation will require time.
Highlighting a key shift in political support, the President pointed out that unlike previous governments, which relied heavily on support from the South, the current administration was elected with the collective support of Sinhala, Tamil and Muslim communities from across the country. The President reaffirmed his government’s commitment to delivering on the promises made to all citizens.
Also present at the meeting were Minister of Labour, Deputy Minister of Economic Development Dr. Anil Jayantha Fernando, Minister of Justice and National Integration Harshana Nanayakkara, Attorney-at-law, Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma , Senior Additional Secretary to the President Roshan Gamage, the Ambassador designate of the European Union to Sri Lanka and the Maldives . Carmen Moreno, General for Trade and Economic Security – Policy Officer of the European Commission’s Directorate Guido Dolara, Desk Officer for Sri Lanka at European External Action Service Ms. Galija Agisheva along with other EU and Sri Lankan officials.
[PMD]
Business
CBSL presents Financial Statements and Operations Report 2024 to President

The Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, officially handed over the Financial Statements and Operations Report 2024 of the Central Bank of Sri Lanka to President Anura Kumara Disanayake at the Presidential Secretariat on Tuesday (29).
A copy of the report was also presented to Secretary to the President Dr. Nandika Sanath Kumanayake.
Several senior officials from the Central Bank were present at the occasion.
Business
HNB Investment Bank promotes Hayleys’ Rs. 7 billion debenture issue as Joint Placement Agent

Hayleys PLC, one of Sri Lanka’s foremost diversified conglomerates, has announced its plans to raise up to Rs. 7 billion through a debenture issue, marking one of the largest corporate debt offerings scheduled for Q2 2025. This strategic initiative has received in-principle approval from the Colombo Stock Exchange.
At the core of this transaction, HNB Investment Bank (HNBIB) plays a leading role as Joint Placement Agent to the issue, alongside Commercial Bank of Ceylon PLC. Renowned for its bespoke financial solutions and strong track record in capital market transactions, HNBIB’s involvement is pivotal to the success of this offering, reaffirming its expertise in structuring and placing sophisticated debt instruments, most recently demonstrated by way of being the exclusive manager for the country’s first-ever high-yield bond issuance earlier this year.
Hayleys’ initial tranche will offer 50 million listed, rated, unsecured, senior, redeemable five-year debentures priced at Rs. 100 each, aiming to raise Rs. 5 billion. In the event of oversubscription, the company retains the flexibility to issue an additional 20 million debentures, increasing the total potential value to Rs. 7 billion. The funds raised are intended to further optimize Hayleys’ capital structure, underlining the company’s forward-looking financial strategy.
The subscription list for the debentures will officially open on 5th May 2025.
Backed by a strong AAA (Lka) rating from Fitch Ratings Lanka Limited and senior status, the securities offer a compelling investment opportunity, combining stability with the potential for attractive returns.
As Hayleys PLC gears up for this significant fundraising exercise, the selection of HNB Investment Bank as a trusted partner, reinforces confidence in the success of the offering, once again highlighting its role in delivering value for issuers and investors alike.
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