Speaking to Indian media, former President Ranil Wickremesinghe stressed the urgent need to finalise the Economic and Technology Cooperation Agreement (ETCA) between Sri Lanka and India, in light of the recent reciprocal tariffs imposed on Sri Lankan exports.

Wickremesinghe highlighted that Sri Lanka can no longer rely solely on traditional export markets like the United States and the European Union, which are increasingly adopting protectionist trade measures. He emphasised that ETCA must be completed by the end of 2025, urging the government to accelerate the process.

“We were relying on the US and others. But you can see how the US trade policies are now, the US as a market will not be that open,” he said. “We don’t know what will happen with the EU either, because we are depending solely on these for our apparel markets.”

The former President also called for the immediate operationalisation of existing Free Trade Agreements (FTAs) with Singapore and Thailand and reaffirmed the importance of Sri Lanka’s bid to join the Regional Comprehensive Economic Partnership (RCEP).

He argued that Sri Lanka must adopt a new trade strategy that includes diversifying its export base beyond apparel. “Apparel alone may not be enough. We have to go into new areas and develop new products,” he said.

Wickremesinghe concluded that Sri Lanka’s economic resilience in the current global environment hinges on strategic trade partnerships and a forward-looking trade policy.

The 2025 Local Government Elections will proceed as scheduled on May 6, according to R.M.A.L. Rathnayake, Chairman of the National Election Commission.

Rathnayake stated that the Commission will comply with court rulings, as several petitions have been filed concerning the rejection of nomination papers. He confirmed that the printing of polling cards and ballot papers for areas not affected by legal proceedings has already begun.

Earlier today, the Court of Appeal directed Returning Officers to accept nearly 37 previously rejected nomination papers. The ruling was delivered by a two-member Appeals Court bench, comprising Acting President of the Court of Appeal Justice Mohammed Thahir Laffar and Justice K.P. Fernando. The decision followed writ petitions filed by political parties and independent groups, including the United People’s Freedom Alliance (UPFA) and the ‘Sarvajana Balaya’ alliance, challenging rejections from multiple local government bodies, notably the Colombo Municipal Council.

The Court of Appeal had earlier paused election-related activities for the Colombo Municipal Council and other contested bodies, pending today’s decision.

In a separate development, the Supreme Court rejected 53 writ petitions and six fundamental rights petitions filed by political entities and individuals contesting the rejection of their nomination papers. These were dismissed without being taken up for consideration.

Rathnayake, while refraining from commenting on the specific rulings, announced that polling cards will be dispatched to Post Offices starting April 16. Voter distribution will take place from April 17 to April 29. He added that necessary instructions have been issued to the Government Printer for the timely production of all required election materials.

A special meeting is scheduled at the Election Secretariat next week, where all Secretaries of Ministries, heads of government institutions, and statutory boards have been summoned. The focus of the meeting will be on enforcing the gazette related to preventing the misuse of state resources during the election period.

Oil prices plunged by 8% on Friday, heading for their lowest close since the height of the coronavirus pandemic in 2021, as China responded to a barrage of U.S. tariffs with steep retaliatory measures, intensifying fears of a global trade war.

In a sharp counter to U.S. President Donald Trump’s latest round of tariffs, China announced it will impose additional levies of 34% on all U.S. goods starting April 10. The move comes amid a wave of global retaliation against what many nations view as protectionist U.S. trade policy, triggering widespread turmoil across international financial markets.

Brent crude futures fell by $5.30, or 7.6%, to $64.84 a barrel, while U.S. West Texas Intermediate (WTI) crude futures dropped $5.47, or 8.2%, to $61.48. Both benchmarks were on course for their largest weekly percentage losses in over two years.

“China’s aggressive countermove to U.S. tariffs all but confirms we are heading towards a global trade war; a war that has no winners and which will hurt economic growth and demand for key commodities such as crude oil and refined products,” said Ole Hansen, head of commodity strategy at Saxo Bank.

Contributing to the oil market rout was OPEC+’s decision to expedite its oil production ramp-up. The group, comprising the Organization of the Petroleum Exporting Countries and allies, announced plans to increase output by 411,000 barrels per day (bpd) in May—far exceeding the previously planned 135,000 bpd.

“The timing is frankly amazing,” said industry analyst Phil Evans, pointing to the double impact of trade tensions and supply increases.

While imports of oil, gas and refined products have been exempted from President Trump’s sweeping tariffs, analysts caution that the broader trade policies could drive inflation, stifle global economic growth, and deepen trade disputes—further weighing on oil prices.

In response to the latest developments, Goldman Sachs lowered its December 2025 price targets for Brent and WTI by $5 each to $66 and $62, respectively. “The risks to our reduced oil price forecast are to the downside, especially for 2026, given growing risks of recession and to a lesser extent of higher OPEC+ supply,” said Daan Struyven, the bank’s head of oil research, in a note.

Prime Minister Dr. Harini Amarasuriya visited Hamburg, Germany, focusing on strengthening vocational education and economic partnerships between the two nations. During her visit, she participated in the 102nd East Asia Friendship Dinner, met with German President Frank-Walter Steinmeier, and engaged in high-level discussions on investment, education, and economic reforms.

As a guest of honour at the German Asia-Pacific Business Association (OAV) annual gathering, Prime Minister Amarasuriya addressed an audience of business leaders and dignitaries, emphasising Sri Lanka’s economic recovery and its potential as a growing investment destination. She highlighted the contributions of over 160 German companies in Sri Lanka and invited further collaboration in trade and business.

In her capacity as Education, Higher Education, and Vocational Education Minister, the Prime Minister delivered a keynote speech at the ‘German-Asian Forum on Vocational Education and Training’. She acknowledged Germany’s decades-long support in Sri Lanka’s vocational education sector and stressed the importance of modernising vocational training to align with industry demands. Additionally, she visited ITECH vocational school and German research hubs such as NXP Semiconductors and DESY, discussing collaboration in IT and technology-driven industries.

During her discussions with President Steinmeier, Prime Minister Amarasuriya reiterated Sri Lanka’s commitment to economic stability, social protection, and national unity. She also attended a business roundtable, where she engaged with German companies and government representatives on economic expansion, digitalisation, and sustainable development initiatives.

The Prime Minister was accompanied by Sri Lanka’s Ambassador to Germany, Varuni Muthukumarana and senior Embassy officials.

President Anura Kumara Dissanayake has appointed a high-level committee to conduct a comprehensive study on the potential implications of the new reciprocal tariff system introduced by US President Donald Trump, and to submit recommendations to the government.

The committee will assess the risks and challenges posed by the tariffs on Sri Lankan exports and propose strategies to mitigate their economic impact.

Members of the committee include the Secretary to the Ministry of Finance, the Governor of the Central Bank, the Chairman of the Board of Investment of Sri Lanka, the Chairman of the Sri Lanka Export Development Board, and the Director General of Economic Affairs at the Ministry of Foreign Affairs.

In addition to government officials, the committee comprises key private sector and policy experts, including Senior Economic Advisor to the President Duminda Hulugamuwa, Chief Economic Policy Advisor to the Ceylon Chamber of Commerce Shiran Fernando, and industry leaders Ashroff Omar, Sherad Amalean, and Saif Jafferjee.

This initiative underscores the government’s proactive approach to safeguarding Sri Lanka’s trade interests and ensuring stability amid evolving global economic dynamics.

In a transformative move toward digital modernization, Sri Lanka has officially signed an Engineering Consultancy Services Agreement to initiate Digital Terrestrial Television Broadcasting (DTTB), marking the end of the country’s 45-year-long analog television era.

The agreement was signed on April 3 at the Information and Communication Technology Agency (ICTA) in Colombo, under the patronage of Minister of Health and Mass Media Dr. Nalinda Jayatissa and Japanese Ambassador Mr. Isomata Akio.

The milestone project is being implemented by the Ministry of Mass Media, with technical and financial assistance from the Japan International Cooperation Agency (JICA), under Japan’s Official Development Assistance (ODA)program.

The agreement was formally signed by Dr. Anil Jasinghe, Secretary to the Ministry of Health and Mass Media, and Gaku Adachi, Managing Director of Japan Engineering Consultancy Services.

Once completed, the project will replace analog broadcasting with high-efficiency digital systems. It will enable multiple channels per frequency band, greatly improving spectrum utilization. Digital broadcasting will deliver high-definition (HD) picture and sound quality across free-to-air TV platforms. It will also support broader digital economy activities by freeing up spectrum previously used for analog signals.

The signing was witnessed by Deputy Finance Minister Dr. Harsana Suriyapperuma, Deputy Digital Economy Minister Engineer Eranga Weeraratne, Digital Economy Secretary Waruna Sri Dhanapala, JICA Sri Lanka Chief Representative Kenji Kuronuma, Deputy Ambassador of Japan Kamoshida Naoaki, along with senior officials and technical experts from both countries.

This agreement marks the first major step in the national rollout of DTTB, promising better accessibility, content diversity, and technological advancement for the people of Sri Lanka.

The 58th National New Paddy Harvest Festival (Aluth Sahal Mangalya) was ceremonially held today (April 4) at the sacred Sri Maha Bodhi in Anuradhapura, under the patronage of President Anura Kumara Dissanayake. Rooted in ancient tradition, the event symbolizes gratitude for the harvest and aspirations for agricultural prosperity.

This year’s ceremony, themed “In unison, let us cultivate the land, to build a self-sufficient nation,” was organized by the Ministry of Agriculture and the Department of Agrarian Services, bringing together farmers from all corners of the island. The first grains of the Maha season’s harvest were offered to the Sri Maha Bodhi, seeking blessings for rainfall, fertility, and economic stability.

The sacred procession, which began at Sinha Kanuwa, culminated at the Sri Maha Bodhi’s courtyard. The Most Venerable Pallegama Hemarathana Nayaka Thera led the religious rites, placing the first grains in a golden bowl. Farmers from all provinces contributed paddy from their regions, creating a powerful symbol of unity and abundance.

Continuing age-old customs, Deputy Leader of the Vedda Community, W.U. Bandiyala Eththo, presented a vessel of bee honey to the President, while a vessel of ghee from the Saman Devalaya was also ceremoniously offered.

President Dissanayake’s Address: A Roadmap for Agricultural Reform

In his keynote address, President Dissanayake laid out a comprehensive vision for revitalizing Sri Lanka’s agricultural sector, noting systemic inefficiencies that have plagued the industry. He acknowledged the Rs. 28 billion debt burden carried by the Paddy Marketing Board and lamented the loss of harvested crops due to inadequate storage and flawed market systems.

Key initiatives announced by the President include:

• Rs. 2 billion allocation for irrigation rehabilitation, with work underway on the North Central Maha Ela Project.
• Development of seed farms to ensure self-sufficient seed production and genetic ownership protection.
• Plans to establish paddy storage facilities with a capacity of 300,000 metric tons, aiming to stabilize prices.
• Government intervention in the paddy market over the next 2–3 harvesting seasons to ensure fair returns for farmers while protecting consumers.
• Continued focus on Sri Lanka’s Tank Cascade System as a blueprint for sustainable agricultural development.

President Dissanayake also launched the distribution of pest-resistant seed paddy, reinforcing the government’s drive toward resilient and sustainable farming practices.

The event was attended by senior Buddhist clergy, ministers, provincial officials, and farmer representatives, reflecting the ceremony’s enduring national and cultural significance.

Showers or thundershowers will occur at most places of the island during the afternoon or night. Showers may occur in Western, Southern and North-western coastal areas in the morning too.

Heavy rainfall of above 100 mm are likely at some places in Western, Sabaragamuwa, Central, Uva and Southern provinces.

Misty conditions can be expected at some places in Central, Sabaragamuwa, Uva, Northern and North-central provinces during the morning.

The general public is kindly requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

On the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka during 05^th to 14^th of April in this year. The nearest areas of Sri Lanka over which the sun is overhead tomorrow (05^th) are Kahawa, Meetiyagoda, Elamaldeniya, Ambakolawewa and Bundala at about 12:13 noon.