Business
Peradeniya economist Athukorala flags suspected policy leak behind May 15 vehicle import spike
Prof Wasantha Athukorala says the 5x surge to USD 23.71 million in LCs opened on May 15 cannot be explained by normal market behaviour alone.
Business
Business
Bimal expects dollar to fall further as USD 700M IMF disbursement nears
Minister Bimal Ratnayake says the dollar has eased from above Rs. 340 to around Rs. 334 and a USD 700 million IMF disbursement will strengthen reserves.
Business
CBSL caps gold-backed loans at 70% of collateral value from May 25
Central Bank's Directions No. 02 of 2026 limit credit secured by gold — including pawning and gold loans — to 70% of collateral value from May 25.
Business
CBSL tightens vehicle financing again — commercial vehicles to 60%, cars to 40% LTV from May 25
Central Bank cuts loan-to-value caps for second time since November — commercial vehicles drop from 70% to 60%, cars and SUVs from 50% to 40%.
Business
FitsAir to launch Ahmedabad–Colombo direct flights from June 19
FitsAir will operate three weekly Ahmedabad–Colombo direct flights from June 19, cutting travel time from nine hours with stopovers to about three hours.
Business
Foreign investors sell US$13.9mn of Sri Lanka bonds in second straight week
Offshore holders sold a net US$13.9mn of rupee securities in the week to May 21, a second straight week of outflows as the rupee fell over 7% in 2026.
Business
SJB's Marikkar warns diesel could rise by Rs. 150 as rupee slides to Rs. 336
Opposition MP says rupee depreciation and rising fuel costs will push up prices of imports, medicine, food and farm inputs in the coming weeks.
Business
Mattala airport prepared for emergency landings as monsoon showers persist at BIA
CAA chief Daminda Rambukwella says CAA-SLAF-DMC committee set up to coordinate diversions to MRIA if BIA weather worsens through the south-west monsoon week.
Business
Police clarify temporary number plates not banned; only distorted plates face action
Police say only distorted or non-standard temporary number plates face action — not all temporary plates — amid the DMT shortage; issuance resumes in June.
Business
Rupee Asia's best on Friday, biggest gain in three years — Bloomberg eyes May 26 rate call
Bloomberg pegs Friday's 2.7% surge as Sri Lanka's biggest rupee gain since March 2023; most economists in its survey expect CBSL to hike on Tuesday.
Business
Sri Lanka rolls out free 30-day tourist ETA for 40 countries from May 25
An Immigration circular grants nationals of 40 countries a free 30-day, double-entry travel authorisation from May 25 in a long-delayed tourism push.
Business
Advocata says fuel subsidies driving dollar demand — diesel at Rs.392 vs Rs.409–410 cost
Dhananath Fernando says diesel is sold below cost and fuel — 23% of imports — must be repriced to ease dollar outflows of $200M–$500M a month.
Business
Commercial Bank becomes first bank to sign up for Port City Colombo branch
Commercial Bank CEO Sanath Manatunge and CHEC Port City MD Xiong Hongfeng signed the branch agreement — first bank inside the 269-ha Special Economic Zone.
Business
Colombo bourse loses 4.26% on the week as rupee jitters drag ASPI lower
The CSE ASPI shed roughly 976 points over the week of May 19-23 even after a third straight Friday gain, as exchange-rate concerns weighed on sentiment.
Business
Rescue underway for three Sri Lankan trawlers in distress, one being towed off Galle
Fisheries DG Susantha Kahawatte says rescue operations are under way for three multi-day trawlers, with one being towed 120 nautical miles back to Galle.
Business
Police Hunt Rainbow Garments Director Over Rs. 920 Million Romania Jobs Scam
CID and Commercial Crimes Division are probing Rainbow Garments Technologies over allegations it defrauded at least 750 people of nearly Rs. 920 million.
Business
CBSL Meets Forex Dealers Ahead of Tighter Currency Regulations
Central Bank weighs new foreign exchange controls to ease pressure on the rupee, which traded between Rs.342.63 and Rs.354.03 against the dollar.
Business
Ceynor nearing completion of USD 250,000 vessel for Mauritius client, Minister inspects
Minister Chandrasekar inspected a 55-foot vessel valued at USD 250,000 nearing completion at Mattakkuliya; Chairman targets four large vessels annually.
Business
CPC's May oil import bill hits US$521mn — 3.4x December level, set to ease by July
Deputy Finance Minister Anil Jayantha said CPC's May oil bill rose to US$521mn from US$152mn in December, with relief expected by July as prices ease.
Business
Colombo stocks close up 0.44% as capital goods lead Friday turnover
Sri Lanka's ASPI closed up 95.87 points at 21,929.64 on Friday, with capital goods leading Rs.2.17 billion in turnover as the rupee recovered.
Business
CT Smith Says Sri Lanka Pressures Are External Shock, Not Domestic Excess
Brokerage CT Smith argues current rupee and import strain stems from the Middle East energy shock, not the imbalances that drove the 2022 crisis.
Business
Fitch downgrades NITF to BBB-(lka) on Rs. 58bn Cyclone Ditwah hit, then withdraws rating
Fitch cut NITF to BBB-(lka) on Rating Watch Negative over Cyclone Ditwah losses, then withdrew the rating after the state reinsurer stopped participating.
Business
Fitch: Sri Lanka FX reserves down 7% in Feb–April, one of APAC's worst
Fitch Ratings says Sri Lanka's reserves fell 7% between February and April, second only to the Philippines among major Asia-Pacific peers.
Business
JKCG denies advance knowledge of vehicle surcharge; Anil Jayantha rules out import ban
BYD distributor JKCG said no LCs were opened in May 2026, denying front-running claims; the Deputy Finance Minister said imports will not be restricted.
Business
Manusha urges overseas Sri Lankans to remit through banks, warns against Undiyal
Former Foreign Employment Minister Manusha Nanayakkara urged migrant workers to remit through banks not Undiyal as rupee pressures mount.
Business
About 80 investors download Mattala EOI documents as airport workshop convenes
Deputy Civil Aviation Minister Janitha Ruwan Kodithuwakku said about 80 investors have downloaded EOI documents online for the Mattala Airport partnership.
Business
Rupee snaps back to 329 spot as exporters sell, banks cut TT selling to Rs.340
Sri Lanka's rupee closed at 329/331 in the spot market on Friday from 342/350 a day earlier, after exporters sold forward and bond yields recovered.
Business
9,429 vehicle LCs opened on first day of surcharge — five times the day before
Deputy Finance Minister Anil Jayantha disclosed the spike on May 18, saying it showed panic speculation by importers rather than advance information leaks.
Business
Ambeon Group doubles profit to Rs. 3.2 billion in FY2025/26 on investment gains
Ambeon Capital PLC reports 104% PAT growth driven by DFCC and Seylan Bank stakes, with new acquisitions in mining, hotels and FMCG via Harischandra Mills.
Business
Rupee Slide Not a Crisis, Deputy Finance Minister Tells Parliament
Deputy Finance Minister Anil Jayantha Fernando rejects claims that rupee depreciation signals economic collapse, citing inflows from IMF, ADB and World Bank.
Business
Implementation Will Decide Sri Lanka's Beneficial Ownership Reform, Says Deloitte
New Companies Act disclosure rules align with global AML/CFT standards but require verification, integration and capacity-building to deliver, the firm says.
Business
CSE Rebounds to 21,833 as Banks Lead Turnover; Rupee TT Selling at Rs.354
Colombo bourse recovered after Wednesday's drop with ASPI gaining 44.72 points to 21,833. Banks drove Rs.2.1 billion in turnover while bond yields rose.
Business
No Electricity Tariff Hike Sought Before September, Karunathilaka Tells Parliament
Energy Minister Karunathilaka told Parliament no PUCSL tariff revision will be sought before September, with the government absorbing a Rs.15 billion subsidy.
Business
Harsha de Silva Warns Forex Market Frozen as Confidence Collapses
SJB MP Harsha de Silva says no bids or offers in the rupee market, with CBSL the only counterparty as exporters withhold dollars and importers rush to buy.
Business
Harsha de Silva Warns of 50-100 Basis Point CBSL Rate Hike Next Week
SJB MP Harsha de Silva warns the Central Bank may raise interest rates by 0.5 to 1 percent next week, deepening the tax burden on the public.
Business
Hellmann and MAS Holdings open Sri Lanka's first dedicated fashion logistics hub near Bandaranaike airport
The 8,000+ sq m built-to-suit Kimbulapitiya site, 6km from BIA, will serve as Hellmann's South Asia fashion hub for distribution into Asia, Africa and Europe.
Business
IMF Mission Chief Says Sri Lanka's Policy Framework 'Considerably Stronger' Ahead of May 27 Board Vote
IMF mission chief Evan Papageorgiou says Sri Lanka's policy framework is considerably stronger than in the past ahead of the May 27 Executive Board review.
Business
IRD Crosses Rs.1 Trillion Tax Revenue Milestone by Mid-May
The Inland Revenue Department said it crossed Rs.1 trillion in tax collections by May 18, a first for the department in such early calendar-year time.
Business
Rupee Slide is a Global Phenomenon, Not Sri Lanka-Specific — JAAF
JAAF says the rupee's 4.8% depreciation is below India's 6.4% and Nepal's 6.2%, attributing the slide to West Asia conflict and global pressures.
Business
Lanka Hospitals GMD Chaaminda Kumarasiri Steps Down After Record Year
Chaaminda Kumarasiri has stepped down as Group Managing Director of Lanka Hospitals Corporation PLC from May 14 after a year the company called its strongest.
Business
Milk powder prices rise as rupee slide pushes up cost of imported essentials
Importers add Rs. 50 to a 400g packet and Rs. 125 to a 1kg packet on stock packaged from 20 May; sugar, dhal and rice expected to follow.
Business
Cabinet Sets Up National Regulatory Reform Council Under President
Cabinet approved a National Regulatory Reform Council chaired by President AKD to overhaul business regulation, licensing and the wider investment climate.
Business
National Chamber of Exporters warns rupee slide risks long-term export competitiveness
NCE flags April inflation at 5.4% and a $1.26 billion March intermediate goods bill, saying forex gains will be outweighed by cost-push pressure on exporters.
Business
Sri Lanka to clear Rs.15bn renewable energy arrears to 386 developers by end-June, Karunathilaka tells parliament
Energy Minister says NSO released Rs.2bn on May 19 and Rs.1bn more next week, after FRED warned 389 power plants faced collapse due to unpaid dues.
Business
Sri Lankan Rupee Identified as Asia's Worst-Performing Currency in May
Sri Lankan rupee is Asia's worst-performing currency this month per a global business platform; Peradeniya economist warns of inflation risk if uncontrolled.
Business
Rupee falls to Rs. 352.50 TT selling rate, bond yields rise as dollar tops Rs. 354 at NDB
TT selling crosses Rs. 352.50 and four commercial banks breach Rs. 350 in a single session, extending the rupee's worst-in-Asia depreciation streak.
Business
SLT's Dollar Reserves Up 30% in Q1, But Exact Figure Withheld as 'Commercially Sensitive'
Sri Lanka Telecom Chairman Mothilal de Silva says SLT-MOBITEL's foreign currency reserves rose roughly 30% in Q1 but declined to disclose the exact figure.
Business
Sri Lanka's national inflation rises to 4.7% in April
NCPI inflation doubled from 2.4% in March to 4.7% in April 2026, driven by a sharp 7.8% jump in non-food prices after the fuel hike.
Business
Sri Lanka Tea Exports Fall 4% in January–April Amid Mideast Shipping Disruptions
Sri Lanka tea exports fell 4% YoY in Jan-Apr 2026 to 78.3 mn kg with earnings down 5.6% to $451 mn, as US-Iran shipping disruptions hit Middle East markets.
Business
UNP Warns of Public Hardship as Rupee Slides From Rs.292 to Rs.354 Under NPP
UNP said the rupee has slid from Rs.292 when Ranil left office to about Rs.354, warning the wider public will absorb cost-of-living pain from a weaker rupee.
Business
President urges public to cut fuel and import use as dollar crisis deepens; JAAF says rupee fall is global
President Dissanayake urged Sri Lankans to cut fuel imports as the rupee weakened; the apparel sector said the slide reflects global trends, not local policy.
Business
Courts fine Nuwara Eliya traders Rs.600,000 and Mulleriyawa supermarket Rs.500,000 for overpricing
Nuwara Eliya court fined two traders for selling water and rice above regulated prices; Mulleriyawa supermarket fined for overcharging on Keeri Ponni rice.
Business
CPC Says Fuel Stocks Last Until August; 90,000 MT US Crude Due May 28
CPC MD Mayura Neththikumarage says reserves cover August, orders are placed to November, and 90,000 MT US crude arrives May 28 with a second shipment May 31.
Business
Cabinet awards Crayon Software $1.816mn Microsoft licence contract for SriLankan Airlines
Two-year deal renews Microsoft licences for the national carrier; Crayon Software Lanka identified as the lowest responsive bidder, Vijitha Herath says.
Business
CSE closes sharply lower as rupee depreciation weighs on market sentiment
The ASPI fell nearly 2% to 21,856 on Wednesday as the rupee's ongoing depreciation drove selling pressure across the Colombo Stock Exchange.
Business
Sri Lanka Customs hits 65% of May revenue target in 18 days, ahead of pace
Customs collected Rs.122 billion of its Rs.187.8 billion May target by May 18, but a new 50% surcharge on personal vehicle imports may slow the pace.
Business
Expressways earned Rs. 16.3bn in 2025, cost Rs. 5.2bn to maintain — minister
Transport Minister Bimal Rathnayake tells Parliament the first full-year disclosure: Rs. 11.15bn surplus across 312.57km, Southern Expressway top earner.
Business
Foreign investors turn net sellers of Sri Lanka bonds for first time in 2026
Offshore holders sold a net Rs. 4.73 billion of rupee securities to May 14, tipping cumulative 2026 flows into outflow as rupee depreciation resumed.
Business
Imported milk powder prices rise with immediate effect: 400g up Rs.50, 1kg up Rs.125
Milk Powder Importers' Association announces price revision Wednesday; cost-of-living hit lands alongside rupee at Rs.340 and credit-card growth slowing.
Business
India-Sri Lanka Mumbai forum closes with focus on energy, logistics and tourism partnerships
Ceylon Chamber-CII business forum in Mumbai on May 13 wraps with calls to deepen renewable-energy, port and ferry connectivity, and Indian FDI into Sri Lanka.
Business
Govt to waive full interest on income tax arrears settled within six months
Deputy Min. Nishantha Jayaweera tells Parliament the IR Amendment Bill grants a 6-month interest waiver on tax arrears, with base broadening over rate hikes.
Business
Ornamental fish farmers hit by Cyclone Ditwah to get up to Rs. 75,000 in relief
Deputy Minister Rathna Gamage announces transparent import mechanism, NAQDA operational plan and Rs.50,000–75,000 grants for small-scale producers.
Business
Rupee Selling Rate Hits Rs. 346.50 at Commercial, Sampath Banks
Commercial and Sampath both quote Rs. 346.50 on the dollar Wednesday, a fresh cycle high as bond yields move wider and Treasury TT prints Rs. 343.50.
Business
Rupee closes at 345.50 TT-selling, bond yields up, T-bill auction undersold at Rs.67bn of Rs.140bn
Fixed-income wrap: TT-selling 345.50/USD with no spot close, bonds up across the curve, and weekly T-bill auction filled only 48% of Rs.140bn target.
Business
Sri Lanka adds 22,473 active credit cards in March 2026; total tops 2.21 million
Credit card base grew 1% in March and 2.3% across Q1, but analysts expect issuance to slow as fuel rationing and rupee weakness squeeze household budgets.
Business
Sri Lanka signs MoU with Russia to modernise railway sector at Kazan forum
Transport Minister Bimal Rathnayake and Russian Deputy Minister Dmitry Serebryakov signed the agreement at the 17th International Economic Forum in Tatarstan.
Business
Sri Lanka tourist arrivals cross 950,000 mark in 2026
The Sri Lanka Tourism Development Authority confirmed cumulative arrivals passed 950,000 for the year, sustaining the milestone trajectory through May.
Business
Sugar, dhal and rice prices set to rise as rupee depreciation squeezes food importers
The Essential Food Importers' Association warned the weakening rupee will push up consumer prices for sugar, dhal, rice and other staples in the coming weeks.
Business
Sri Lanka tourist arrivals stabilising in May after sharp Middle East conflict-driven falls
Sri Lanka logged 75,465 arrivals in the first 17 days of May, just 0.9% below last year, recovering sharply from March–April's 20–22% declines.
Business
Economist Wignaraja warns Sri Lanka should plan for an 18th IMF programme as war and Ditwah compound recovery
ODI Global fellow tells RCSS dialogue the contingency is becoming inevitable; outlines best, moderate and prolonged-war scenarios under Hormuz shock.
Business
US Justice Department drops criminal fraud case against Adani
DOJ moved to dismiss bribery prosecution of Gautam Adani over alleged $250M solar scheme, citing prosecutorial discretion after FCPA enforcement pause.
Business
Anil Jayantha Cites Middle East, Oil and FX Demand for Rupee Slide as Sajith Presses Govt
Deputy Finance Minister tells Parliament the rupee has lost 4.8% on the dollar, blaming Middle East tensions, oil and FX demand as Sajith presses for a plan.
Business
Cabinet clears additional 15,000 MT of urea for Yala 2026 paddy season
Approval tops up subsidised urea for 450,000–500,000 ha of paddy as 48,297 MT of existing stocks are already in distribution at Rs.10,200 per 50-kg bag.
Business
Sri Lanka Slaps US$27mn Penalty on Trident Chemphar over Substandard Coal
Deputy Energy Minister Arkam Ilyas says fines on the first 15 shipments total US$27mn; a US$15mn performance bond is also held and no demurrage will be paid.
Business
CPA report sees land bridge cutting India–Sri Lanka cargo time to 9 hours
Centre for Policy Alternatives policy brief models a Dhanushkodi–Talaimannar fixed link cutting cargo transit from 40–122 hours by sea to about 9 hours.
Business
Colombo Stocks End Tuesday Down at 22,298 After Peace-Talk Rally Fades
ASPI closes 15.40 points down at 22,298 after an intraday rally on Trump peace-talk hopes faded; Dialog and Vallibel One lift, banks drag.
Business
CSE Trends Up as Rupee Slides to Rs. 337.50 Selling; Bond Yields Climb
Colombo stocks rose midday Tuesday as the rupee weakened to 328.50/337.50 against the dollar and government bond yields edged higher across the curve.
Business
Think Tank Warns Sri Lanka's Export, FDI Drive Lacks Ambition Amid Global Squeeze
Centre for a Smart Future warns trade and FDI reform has stalled a year after its policy note, while global economic conditions continue to worsen.
Business
Sri Lanka to formulate national policy on foreign workers entering country
Cabinet clears formulation of an Inbound Labour Migration Policy governing admission, employment, supervision and protection of foreign workers in Sri Lanka.
Business
Inland Revenue Warns of Legal Action Over False TIN Registrations
IRD says legal action will follow against anyone who obtained a Taxpayer Identification Number using false information, as registrations exceed 13 million.
Business
Cabinet Approves Formulation of National Intellectual Property Policy
Cabinet approved formulating a National Intellectual Property Policy to fix coordination gaps between NIPO and other state agencies, Vijitha Herath said.
Business
Rupee Selling Rate Hits Rs. 340 at People's Bank, Extending Slide
People's Bank quotes Rs. 340.67 on the dollar Tuesday, a fresh cycle high as commercial bank rates jump again and EconomyNext records bond yields rising.
Business
Senarath Engineering wins Rs.819mn tender for Malabe-Kaduwela Road
Cabinet approves Senarath Engineering's bid to improve the 5.56km Malabe-Kaduwela Road (B 263) at Rs.819 million ex-VAT; eight bids received for the project.
Business
Singer Sri Lanka profit jumps 77.5% to Rs.2.39bn in March 2026 quarter
Home appliances PBT more than doubled and financial services PBT rose 77%, lifting group revenue 47% to Rs.35.7bn; receivable impairment jumped to Rs.455mn.
Business
Standard Chartered to cut over 7,000 back-office jobs in AI push
London-based bank says 15% of back-office roles will go by 2030 as it deploys AI; centres in Chennai, Bengaluru, Kuala Lumpur and Warsaw most exposed.
Business
Vehicle number plate printing to resume by June 10 at Werahera, DMT says
South Asian Technologies installed machinery at DMT's Werahera premises under a 5-year contract; number plate printing to resume by June 10.
Business
Government Says Rupee Slide Manageable with IMF and ADB Inflows Ahead
Cabinet spokesperson Vijitha Herath says expected US$ 700M IMF and US$ 200M ADB inflows, import controls and stronger exports will help stabilise the rupee.
Business
Cabinet freezes water tariffs for first half of 2026
Ministry says NWSDB's 2025 financials show current tariffs cover operating costs, removing the case for a January–June revision under the 2024 formula.
Business
Farmers Get 14 Days to Report Yala Crop Losses; Compensation Up to Rs. 100,000 a Hectare
Agricultural Insurance Board sets 14-day deadline for paddy, maize, potato, soya, chilli and onion farmers claiming rain damage at the Yala season's start.
Business
Anil Jayantha urges Sri Lankans to cut fuel use as CPC bill nears $1 billion
Deputy Finance Minister asks public to economize fuel as CPC has spent $1 billion on oil imports in four months — two-thirds of last year's full bill.
Business
April PMI Shows Manufacturing and Services Both Contract After March Festive Peak
Manufacturing PMI fell to 42.6 and services PMI dropped to 46.7 in April 2026 as festive demand faded, fewer working days hit output and fuel costs weighed.
Business
CBSL Governor: CPC's $1 billion oil import bill in four months is driving rupee fall
CBSL Governor Weerasinghe told COPF that CPC spent $1bn on petroleum in Jan–Apr 2026, matching most of 2025's full-year bill as the rupee weakens.
Business
Rupee fall driven by Middle East oil shock, not domestic crisis: CBSL Governor
Weerasinghe told a media briefing the rupee's 4.8% slide in 2026 reflects global oil price pressures, citing 6.4% in India and 6.2% in Nepal.
Business
CBSL Governor: rupee fell 4.8% on global oil shock, 5% growth target now uncertain
Governor Weerasinghe said Sri Lanka's 4.8% rupee slide is milder than India's 6.4% and reflects oil-import pressure, not a 2022-style domestic crisis.
Business
CPC threatens legal action against fuel stations bypassing QR system in Uva
CPC Managing Director warns of strict enforcement after Uva Province fuel stations were found issuing fuel without the mandatory QR code verification system.
Business
Colombo stocks tumble 2.59% to 22,313 Monday, no spot quote for rupee as bond yields rise
ASPI ended down 592 points at 22,313 on heavy selling; dollar trades hit Rs.326.50-327.50, no spot close, and bond yields rose across the curve.
Business
Sri Lanka to record first current account deficit since 2022 crisis, says Central Bank
Higher oil imports will push Sri Lanka's current account into deficit in 2026, ending a three-year surplus run, Deputy CB Governor Amarasekara told COPF.
Business
Dunusinghe: future vehicle import policy must be necessity-based to protect FX reserves
Colombo economist warns unsold stock is piling up at yards while reserves drain; calls for permits tied to genuine domestic need rather than dealer demand.
Business
Economists warn against return to subsidy-driven growth as global shocks test Sri Lanka's reform path
CBSL Deputy Governor Amarasekara, Ceylon Chamber and Peradeniya economists urged Sri Lanka to avoid 'stop-and-go' policy and accelerate export-led reform.
Business
Fuel dealers flag Octane 95 petrol and Super Diesel shortage at CPC stations
Petroleum Dealers' Association says Rs.3mn stock investment yields only Rs.45,000 in margin per shipment, making premium fuels unviable at most CPC outlets.
Business
Government allocates Rs. 57 billion for three-month fuel subsidy on diesel and petrol
CPC Chairman D.A. Rajakaruna confirmed Rs. 100 per litre diesel and Rs. 20 per litre petrol subsidies will run for three months under a Rs. 57bn allocation.
Business
Agreement signed to import 104 new metro buses, delivery due August
The Transport Ministry signed a deal with Indra Traders (Pvt) Ltd to import 104 buses for the Metro Transit Company, with delivery expected in August.
Business
Banks welcome PayPal launch as 150,000 freelancers gain formal FX channel
BOC, Commercial Bank and Sampath Bank CEOs welcomed PayPal's Sri Lanka rollout, with BOC saying around 150,000 freelance customers stand to benefit.
Business
Sri Lanka rupee selling rate jumps to Rs. 334 across commercial banks
The Sri Lankan rupee weakened further on Monday, with most commercial banks quoting selling rates at Rs. 334 — a fresh low extending the post-cyclone slide.
Business
KPMG urges IRD Bill amendments after SC flags certificate procedure
KPMG's Suresh Perera says the SC backed Section 185A but flagged Section 163 certificate procedure as needing amendment before Wednesday's second reading.
Business
Seven companies qualify to bid in 2026-2027 Lakvijaya coal tender after rules tightened
Lanka Coal Company has shortlisted seven of nine bidders for the 2.28-million-tonne Lakvijaya tender after tightening qualification and split-award rules.
Business
Colombo Port handled 8.2 mn containers in 2025 but efficiency rank tumbles to 80th
EconomyNext explainer says Adani's CWIT terminal hit 1mn TEUs in year one as Colombo's World Bank port performance rank fell 52 places.
Business
HNB Life Q1 2026: Gross Written Premium surges 54% to Rs.7.01 billion
Newly rebranded HNB Life posts Rs.7.01bn GWP and Rs.71.4bn total assets in Q1 2026, though profit after tax slips on low rates and equity fair-value movements.
Business
IMF Executive Board to rule on Sri Lanka's combined EFF reviews on May 27
IMF sets May 27 for its Executive Board to decide on Sri Lanka's combined fifth and sixth EFF reviews, potentially releasing USD 700 million.
Business
New rules to stop insurance policies being used to evade withholding tax — Anil Jayantha
Deputy Finance Minister says complaints over savings-style insurance deposits prompt amendments to tax collection rules to plug evasion loophole.
Business
People's Bank reports Rs. 656 million loss from three-year remittance exchange rate error
State bank says exchange rate error in remittance system caused customers to receive excess payments from May 2023 to March 2026.
Business
April tourism revenue plunges 39% as Middle East crisis bites again
Sri Lanka's April tourism earnings fell to US$157.1 million, the eighth monthly drop in 10 months; four-month revenue down 19.4% to US$1.11 billion.
Business
Thriposha output disrupted as 2,290 MT maize shipment stuck at port over Cabinet-approval dispute
Thriposha supply hit as trade authorities withhold clearance for licensed maize shipment, citing fresh Cabinet approval despite earlier contrary guidance.
Business
Bank of Ceylon posts Rs. 28.8 billion pre-tax profit in Q1 2026
State-owned Bank of Ceylon reported Rs. 18.8 billion in profit after tax for the three months ended 31 March, citing a stabilising macroeconomic environment.
Business
Commercial Bank first private banking group to cross Rs. 3.5 trillion in assets
Commercial Bank Group reported Rs. 3.61 trillion in assets and Rs. 17.94 billion in Q1 2026 net profit, up 19.8% year-on-year on 31.35% loan-book growth.
Business
SriLankan Airlines hit by double fraud in Dubai and Chennai, Anil Jayantha confirms
Deputy Finance Minister Anil Jayantha confirmed two SriLankan Airlines frauds — a hacked agent email in Dubai and forged documents at Chennai.
Business
Karunathilake Outlines Renewables Plan to Cut Electricity Bills as 1,898 CEB Retirees Get Compensation
Energy Minister Karunathilake said higher renewable penetration and hydropower efficiency will cut consumer bills as 1,898 CEB retirees received compensation.
Business
NAQDA launches Rs.25m cage method to modernise inland prawn industry
NAQDA has rolled out a Rs.25 million cage-pregrowing project that triples larvae-to-prawn efficiency at five tested reservoirs across three districts.
Business
Nations Trust Bank posts Rs. 4.6 billion profit after tax in Q1 2026
Nations Trust Bank reported a 12% year-on-year rise in Q1 profit after tax to Rs. 4.6 billion, with return on equity at 18.98% and a Net Stage 3 ratio of 1.10.
Business
Oil Prices Surge 3% to $109 as US-Iran Combat Fears Revive
Brent settled at $109.26 on Friday, up 7.84% for the week, as Trump and Araqchi statements dented hopes of a swift Hormuz reopening and US-Iran de-escalation.
Business
Pan Asia Bank posts Rs. 1.65 bn PBT in Q1 2026 on record deposits and advances
Pan Asia Banking Corporation reports Rs. 1.65 bn PBT and Rs. 1.05 bn PAT in Q1 2026, with the highest-ever quarterly growth in deposits and advances.
Business
SLT-MOBITEL Q1 profit surges 53% as broadband revenue powers turnaround
SLT-MOBITEL group profit after tax jumped 53.3% to Rs.3.1 billion in Q1 2026 as broadband demand and reversed FX losses drove a double-digit revenue rise.
Business
THASL Calls for Ban on Listing Unregistered Properties on Agoda, Booking.com
THASL wants a legal amendment limiting Agoda, Booking.com and Expedia to SLTDA-registered properties, citing unfair tax burden on the formal sector.
Business
Tourism industry opposes new Tourism Act, urges amendment of existing SLTDA law
THASL President Asoka Hettigoda and CEO Priantha Fernando warn that drafting a new tourism law could take two years and create redundant bureaucracy.
Business
Sri Lanka imposes 50% surcharge on imported vehicles for three months
An extraordinary gazette signed by President Anura Kumara Dissanayake imposes a 50% surcharge on customs import duty for vehicles from 16 May for three months.
Business
Weak Low Grown crop drags April tea production down 8.5%
Sri Lanka's tea output fell sharply in April with weak Low Grown performance, dry weather and reduced smallholder fertiliser use weighing on the national crop.
Business
Cutting inflation target to 2% would force growth-killing tightening, says Governor Weerasinghe
CBSL Governor tells COPF that reducing the 5% inflation target to 2% would require sharp rate hikes that compromise growth, ahead of the August renewal.
Business
Central Bank launches online complaint portal for financial consumers
CBSL has launched a 24/7 online Complaint Management System at reachus.cbsl.lk for consumers to escalate unresolved grievances against regulated providers.
Business
CEB Voluntary Retirement Compensation Payments Begin; Rs.8.9 Billion Set Aside for 1,600 Former Employees
Payments to former CEB voluntary-retirement employees began May 15, with Rs.8.9 billion set aside for nearly 1,600 staff, the Energy Ministry said.
Business
CSE closes flat Friday; ASPI inches up to 22,905 as Dialog leads gainers
Colombo's All Share Price Index added 6.22 points to 22,905 on Friday but ended the week 115 points lower. Turnover Rs.2.84bn, led by capital goods.
Business
Customs revenue tops Rs. 1.18 trillion; April sets monthly record at Rs. 236.5 billion
Sri Lanka Customs collected Rs. 236.5 billion in April alone — the highest monthly intake to date — pushing 2026 revenue past Rs. 1.18 trillion.
Business
Dialog Axiata Q1 2026 net profit more than doubles to Rs. 9.2 billion
Sri Lanka's largest listed telecom posted a 122.3% jump in Q1 2026 net profit to Rs.9.2bn, with revenue up 9.2% and an interim dividend of Rs.0.70 proposed.
Business
First Capital warns Sri Lanka risks Jamaica-style lost decade if growth stays sluggish
First Capital Research lays out three post-restructuring paths and warns the Treasury Single Account transition under the PFMA could choke private credit.
Business
Govt weighs ending odd-even fuel system, QR-code distribution under review
PM committee considers replacing odd-even rationing with a QR-code fuel distribution scheme; stocks confirmed secured through August 2026.
Business
IMF Spokesperson Declines Direct Comment on Rs.100 Diesel Subsidy, Reiterates Cost-Recovery Requirement
IMF Communications Director Julie Kozack would not be drawn on Sri Lanka's Rs.100 diesel subsidy but said the EFF programme requires cost-recovery fuel pricing.
Business
Potuhera–Rambukkana expressway stretch to open by March 2027; Ruwanpura construction to restart
RDA Director General Hettiarachchi confirms Potuhera–Rambukkana opens March 2027, with Ruwanpura, Kurunegala–Galewela and Rambukkana–Galagedara all to begin.
Business
CBSL dollar rate hits Rs. 331.15 as economist, Dilith Jayaweera warn of cascading effects
Sri Lanka's CBSL selling rate hit a December 2023 high on Friday, with analysts and Sarvajana Balaya MP Dilith Jayaweera warning of an unprecedented slide.
Business
Rupee retail selling rate edges toward Rs. 332 as currency continues to slide
People's Bank quoted the dollar at Rs. 332.39 on Friday as the rupee extended its 2026 slide, now down more than 5% since the start of the year.
Business
THASL warns steep liquor licence fee hikes are hurting tourism competitiveness
Sri Lanka's hoteliers say sharply higher liquor licence fees are raising operating costs and driving demand to unregulated informal operators.
Business
BOI opens investment projects across eight sectors with feasibility reports
Acting Chairman Sulakshana Jayawardena says project information and feasibility studies are now on investsrilanka.com to streamline due diligence.
Business
CAA imposes Rs. 89 million in fines after 7,334 raids across Sri Lanka
Sri Lanka's CAA fined traders Rs. 89 million in 7,334 raids across January–April 2026 for price gouging, short weights, and consumer protection violations.
Business
CBSL not mandated to drive growth, Governor Weerasinghe says in rare boundary statement
Governor Nandalal Weerasinghe says the Central Bank's role is limited to price and financial stability, not promoting growth, productivity or FDI.
Business
CBSL Governor declines to signal next rate move as inflation pressures resurface
Governor Nandalal Weerasinghe says the Central Bank is yet to assess emerging conditions before its next monetary policy review, with OPR held at 7.75%.
Business
Colombo stocks slip slightly Thursday; rupee closes with no spot quote at 326/327
The Colombo Stock Exchange edged 0.09% lower at Thursday's close on Rs. 2.6 billion turnover, while the rupee saw no spot quote on the dollar.
Business
EDB and Janathakshan partner under UNDP GEF-07 to push bio-friendly agri exports
EDB and Janathakshan have partnered under a UNDP biodiversity project to develop bio-friendly agri exports across six Sri Lankan wet-zone districts.
Business
Farmers abandon Yala plots as urea doubles and Maha season risk grows
Soaring fertiliser costs and urea scarcity are pushing Sri Lankan farmers from Bibile to Jaffna to abandon paddy plots, with the Maha season already at risk.
Business
HNB assets cross Rs. 2.5 trillion milestone in Q1, posts Rs. 9.95 billion profit
Hatton National Bank Group profit after tax reached Rs. 10.35 billion in Q1 2026; net interest margin widened to 4.45% as deposits and loans both grew.
Business
IMF Communications Chief Says Sri Lanka Board Decision Expected 'Within Weeks'
Julie Kozack says the Executive Board will meet within weeks to clear Sri Lanka's combined fifth and sixth EFF reviews, releasing about $700 million.
Business
Two Matara Tourist Hotels Fined Rs. 1 Million for Overpricing Bottled Water
Matara Magistrate fined two tourist hotels Rs. 500,000 each after CAA raids found them selling Rs. 100 water for Rs. 450 and Rs. 70 water for Rs. 300.
Business
Heavy rains bring financial relief to debt-ridden CEB as hydropower output surges
CEB engineers expect a sharp drop in thermal and coal generation costs as Mahaweli and Laxapana reservoirs fill up amid widespread heavy rains.
Business
Sri Lanka rupee selling rate hits Rs. 329.92, highest since December 2023
CBSL exchange rate data shows the dollar selling rate at Rs. 329.92 on Thursday, the weakest level for the rupee in nearly 17 months.
Business
Russian envoy meets Sri Lanka's Deputy Finance Minister and CPC Chairman
Russian Ambassador Levan Dzhagaryan held May 13 talks with A.J. Fernando and CPC Chairman D.J. Rajakaruna, signalling renewed bilateral energy dialogue.
Business
Sampath Bank crosses Rs. 2 trillion in assets, posts Rs. 6.2 billion Q1 profit
Sampath Bank assets crossed Rs. 2 trillion for the first time in Q1 2026; PAT fell 26% as impairment charges and an Rs. 1.5bn geopolitical overlay weighed.
Business
Sri Lanka launches 'SME Nexus' national strategy framework with 11 strategic pillars
Industry Minister Sunil Handunneththi unveils a 2026 framework targeting structural SME barriers, with 11 strategic pillars and a dedicated Growth Fund.
Business
Sri Lanka T-bill yields drop across maturities; Rs. 88bn sold at Wednesday auction
Treasury bill yields dropped across all three maturities at the May 13 auction, with the Public Debt Management Office selling Rs. 88 billion of bills.
Business
Vidullanka buys 49% of Storex for Rs. 2bn to anchor 12-plant BESS portfolio
Vidullanka has acquired a 49% stake in Storex for about Rs. 2 billion, joining WindForce in a 12-plant battery energy storage portfolio awarded by the CEB.
Business
Diesel costs Rs.720 per litre, oil imports up six times since February: AKD
President Dissanayake says diesel costs Rs.720 per litre but is sold at Rs.392, with oil imports up six times between February and May.
Business
CBSL and Finance Ministry Strengthening Systems to Prevent Repeat of USD 2.5M Fraud, Says Governor
CBSL Governor Weerasinghe says Central Bank and Finance Ministry are reviewing procedures to prevent a repeat of the USD 2.5M Treasury fraud.
Business
CBSL Governor: Every Bank Asked to Check for NDB-Type Fraud, No Other Cases Found
Nandalal Weerasinghe confirmed CBSL asked all licensed banks to run internal checks for NDB-style misappropriation; no other incidents were reported.
Business
CBSL Governor: Current Rupee Slide Driven by Global Forces, Not a Repeat of 2022
Nandalal Weerasinghe says the rupee is weakening alongside other regional currencies, unlike the 45% domestic-driven collapse of March-April 2022.
Business
CBSL Governor: Sri Lanka GDP back to USD 109 billion but income recovery uneven
Weerasinghe says Sri Lanka's economy has grown ~5 percent for two years after 2022-2023 contractions, but Aswesuma reliance shows uneven income recovery.
Business
CPC chairman's BMW sold for Rs.30mn, proceeds buy staff buses
The CPC chairman's official BMW has been sold for Rs.30 million and the funds used to buy two buses for Kolonnawa and Muthurajawela staff.
Business
CSE Dips and Rupee Weakens to 323.75 as War and Weather Weigh on Sentiment
Colombo Stock Exchange retreats and rupee slips to 323.75/324.25 against the dollar as Iran war uncertainty and severe flooding weigh on investor sentiment.
Business
Sri Lanka Customs crosses Rs.1 trillion revenue mark in 132 days
Sri Lanka Customs hit the Rs.1 trillion revenue mark in 132 days, 45% of the 2026 target, after exceeding monthly targets for four straight months.
Business
Hikkaduwa hotels report nearly 80% collapse in tourist arrivals
The Hikkaduwa Tourist Hotel Owners Association says 80% fewer tourists are visiting the resort, with 100,000 direct and indirect jobs at stake.
Business
Maharaja Media signs MoU with Macau broadcaster TDM to draw Chinese tourists
Maharaja Media Network and Macau public broadcaster TDM signed a partnership at the ABU council meeting to promote Sri Lanka tourism to Chinese audiences.
Business
Compensation payments to voluntary retirees in power sector to begin within days
Energy Minister Karunathilaka says compensation payments to voluntary retirees in the electricity sector will start within days, after a Monday review meeting.
Business
Sri Lanka sells Rs. 176.6bn in 2030, 2034, 2036 and 2039 bonds at Wednesday auction
Treasury sold Rs. 176.62bn of Rs. 250bn offered across four maturities; 2039 bond drew no accepted bids and 2030 yields edged up to 10.16 percent.
Business
Sri Lanka Completes FAO-Korea Shrimp Aquaculture Modernisation Project
FAO and Korea complete a four-year project digitising Sri Lanka's shrimp aquaculture, with IoT water sensors, GIS mapping and 699 farms surveyed nationwide.
Business
Sri Lanka Expo 2026 postponed to January 2027 on geopolitical risks
Sri Lanka's flagship trade expo pushed to January 14-17, 2027 due to geopolitical uncertainties affecting global travel and trade, the EDB says.
Business
Sri Lanka envoy and Istanbul Chamber of Commerce target USD 500mn trade
Sri Lanka's ambassador to Türkiye met the Istanbul Chamber of Commerce president to push the USD 500 million bilateral trade target and plan a B2B session.
Business
New Pension Scheme Announced for Tea Estate and Factory Workers
Sri Lanka launches a new pension scheme for tea estate and factory workers — Rs. 600 quarterly contributions from age 18 yield Rs. 5,000 a month at age 60.
Business
Abu Dhabi Ports eyes Colombo, Trincomalee; UAE pushes CEPA in Samarasinghe talks
UAE Ambassador AlAmeri told Minister Samarasinghe that Abu Dhabi Ports is interested in Colombo, with CEPA, aviation and SriLankan Airlines also discussed.
Business
Govt plans 300 MW battery storage on grid by year-end as renewables surge
Deputy Power Minister Arkam Ilyas says 250-300 MW of BESS will hit the grid by year-end; 100 MW already awarded, 160 MW under evaluation.
Business
Cabinet approves SMIB Act amendment to lift state mortgage bank's profitability
Cabinet approved a proposal to amend the State Mortgage and Investment Bank Act, citing limitations in the 1975 law that have constrained the bank's profits.
Business
CBSL Deputy Governor warns reversing post-crisis reforms could recreate 2022 crisis conditions
Dr. Chandranath Amarasekara urges policymakers to weigh the counterfactual as tariff backlash and tax hikes test Sri Lanka's stabilisation gains.
Business
Cabinet approves Rs. 112 billion for Rambukkana–Galagedara Central Expressway phase without new borrowing
The Rambukkana–Galagedara section will be funded entirely by the Treasury without new loans, Transport Minister Bimal Rathnayake said after Cabinet approval.
Business
Ceylon Chamber leads 19-member CEO delegation to Mumbai for Indo-Lanka Business Forum
JKH chairman Krishan Balendra heads a senior corporate group to the India-Sri Lanka Business Forum on May 13, co-hosted with CII in Mumbai.
Business
Govt withholds over $37 million from coal suppliers in quality dispute
Deputy Power Minister Arkam Ilyas says $22M in fines and $15M in performance bonds are being held over 18 disputed shipments — over Rs. 10 billion retained.
Business
Karunathilaka denies decision to privatise East Container Terminal
Ports Minister Anura Karunathilaka says no privatisation move has been taken at the Cabinet, SLPA or ministry, though investor talks continue.
Business
Power Minister Karunathilaka admits 18% tariff hike will have indirect impact across economy
Power Minister concedes higher industrial and commercial tariffs will pass through to consumer prices, softening earlier 'limited impact' framing.
Business
Sri Lanka calls international bids for liquor tamper seals as current contract expires January 2027
Cabinet approved an international competitive tender for a new five-year liquor security-marking contract, ahead of the existing provider's January 2027 expiry.
Business
Mattala Airport EOI deadline set for June 8, site visit on May 22
Ports Ministry sets June 8 deadline for Mattala airport EOIs, splitting the call into airside and landside operations with a May 22 site visit.
Business
NCGI scheme lets SMEs borrow without collateral, Deputy Minister explains
Government covers 70% of loan security under the NCGI scheme — 80% for women entrepreneurs — with 1,747 small businesses funded so far.
Business
Minority shareholder files derivative action against NDB and Ernst & Young in Commercial High Court
Minority shareholder sues NDB, external auditors Ernst & Young and E&Y partners in Commercial High Court; order reserved for May 13.
Business
Rayynor lifts Seylan Bank stake to 10% with fresh Rs. 1.2 billion investment
Media owner Rayynor Silva's Phantom Investments adds 12 million Seylan shares at Rs. 104 each, marking a fresh push into the lender after Phantom's NDB exit.
Business
Rupee slips to 322.25 Tuesday as Rs. 250bn bond auction proceeds; CSE closes flat
Sri Lanka's rupee weakened to 322.25 against the dollar; bond yields steady ahead of a Rs. 250bn auction; CSE ASPI closed flat at 23,015 on Tuesday.
Business
Government to give small-scale tea growers additional fertilizer subsidy as global import costs rise
Plantations Minister Samantha Vidyaratne said the Treasury has funded an extra fertilizer subsidy for small tea growers amid rising shipping costs.
Business
Bankruptcy bill's tax priority for state questioned at parliamentary committee
Advocata's Murtaza Jafferjee told COPF the IRD should not stand ahead of other creditors when a company restructures, saying private lenders take equal risk.
Business
US clears Sri Lanka blue swimming crab exports until 2029 under Marine Mammal Protection Act
NOAA reverses November 2025 ban after finding Sri Lanka's crab harvesting practices 'comparable in effectiveness' to American marine mammal standards.
Business
Sri Lanka to pay Rs. 8.5 billion CEB voluntary retirement compensation to 1,896 ex-employees
Energy Minister Anura Karunathilaka says Treasury will fund 100% for some successor companies and 50% for NSO and Transmission Network staff.
Business
Colombo Port records 22% growth in container throughput in April
Port of Colombo handled 761,096 TEUs in April, up 22% YoY; Jan-April cumulative throughput hit 2.92 million TEUs, a 13.9% increase.
Business
CSE eases from record close as ASPI ends at 23,011 on May 11
ASPI fell 0.23% to 23,011.72 with banks leading turnover at Rs.3.04bn of the Rs.4.92bn total; Ceylinco Insurance and Commercial Bank weighed.
Business
Durga Infra raises Hatton Plantations stake to 12.5% with Rs. 262 mn share purchase
Durga Infra Ltd has lifted its Hatton Plantations PLC stake to 12.5% after buying 10.25 million shares at Rs. 25.60 per share on May 6, 2026.
Business
Karunathilaka: only 7.29% of consumers hit by new tariffs as generation costs jump Rs. 27bn
Energy Minister says 6.43m households using under 180 units are exempt; diesel costs jumped from Rs. 417m to Rs. 6,257m forcing the 18% PUCSL request.
Business
LAUGFS Power commissions 2MW mini hydro plant at Ginigathhena
The Polpitiya plant, developed through subsidiary PAMS Power, was synchronised with the national grid in late March and formally acknowledged on April 29.
Business
NDB disposes Rs. 2.77 billion Seylan Bank stake; Rayynor Silva's Phantom Investments hits maximum limit
NDB exited its 26.6 million-share holding in Seylan Bank at Rs. 104 per share, with media owner Rayynor Silva's Phantom Investments taking up the block.
Business
Private sector credit surges Rs. 258b in March; up 27.1% YoY to Rs. 10.7 trillion
Private sector borrowings jumped Rs. 258.4b month-on-month — second highest in 12 months — as Q1 outstanding credit hit Rs. 10.7 trillion.
Business
Rupee closes weaker at 322 to the dollar on Monday; bond yields broadly steady
Spot rupee slipped from 321.70 to 322.00 against the dollar — a 4% YTD slide from Dec 30, 2025. Rs. 250bn bond and Rs. 80bn bill auctions due this week.
Business
Sri Lanka records Rs. 545b primary surplus in January-February as budget swings to surplus
Primary surplus rose 66.1% YoY to Rs. 545.4 billion; overall budget turned to Rs. 169.7 billion surplus from a Rs. 86.6 billion deficit a year earlier.
Business
No decision yet on water tariff revision, June review will decide — Minister Ranasinghe
Water Supply Minister Susil Ranasinghe says biannual review on June 30 will determine any change to household water bills.
Business
Sri Lanka's Central Bank turns net dollar seller in April; reserves dip below US$7 billion
CBSL turned net dollar seller in April for the first time since June 2024, as reserves slipped back below US$7 billion to US$6.76 billion.
Business
Electricity tariffs rise from Monday; trade unions warn 60,000 businesses hit
PUCSL's revised tariffs take effect May 11. A 210-unit household bill rises Rs. 1,760; trade unions say 60,000 businesses face squeeze and demand reversal.
Business
CAA seals Homagama factory over substandard 6mm steel bars without SLS certification
Consumer Affairs Authority sealed a Homagama Industrial Zone factory producing 6mm ribbed steel bars without the mandatory SLS 375 certification.
Business
JAAF says Sri Lanka must learn from Vietnam's 19-FTA apparel playbook
Vietnam's apparel exports grew 250% to $45bn while Sri Lanka's grew just 58% to $5.4bn, JAAF says, calling for a ministry-level FTA negotiation architecture.
Business
Government Begins Rs. 220/kg Potato Buy-Back Drive in Nuwara Eliya
Trade Ministry buys local potatoes at Rs. 220/kg via Blackpool co-op, capped at 1,000 kg per farmer; onward sales through Lanka Sathosa.
Business
PUCSL approves electricity tariff hike of 8% to 18% from Monday
PUCSL's Q2-Q3 tariff revision takes effect Monday. Households below 180 units are exempt; others face 8% to 18% increases offset by a Rs.15bn subsidy.
Business
EU and UNIDO launch €7.56 mn net-zero roadmap for Sri Lanka apparel sector
EU-funded AICRSL initiative will develop a Net-Zero Roadmap for Sri Lanka's textile and apparel sector — 40.7% of merchandise exports and 31.3% EU-bound.
Business
Sri Lanka tourist arrivals top 900,000 for 2026 as April-May pace slows sharply
Sri Lanka logged 904,855 tourist arrivals between January 1 and May 6, but daily arrivals in April and May fell sharply against the strong January–March pace.
Business
Sri Lanka to Launch South Asia's First Private-Sector Sustainable Tourism Association in August
SusTour finalises August launch after May 6 meeting; Deputy Tourism Minister Ruwan Ranasinghe to officiate, Australia and SLTDA pledge support.
Business
Sri Lanka April remittances reach $767.9 mn; reserves at $6.76 bn
CBSL data for April 2026 shows remittances up year-on-year despite a monthly dip, gross official reserves at US$ 6.759 bn, and tourism arrivals slowing.
Business
COPF questions Central Bank over NDB fraud, says all audit layers failed
COPF told CBSL that NDB's internal audit, external auditors, board audit committee and CBSL's own banking supervision unit all missed the fraud.
Business
CSE closes above 23,000 for first time after volatile session
ASPI ended +0.29% at 23,063 after crossing 23,000 intraday and dipping back. S&P SL20 closed +0.43% at 6,319; turnover Rs.4bn.
Business
People's Leasing Rs.10bn listed debenture rated BBB+(lka) by Fitch
Fitch assigned an expected BBB+(lka) rating to People's Leasing's planned Rs.10bn 5-year subordinated listed debenture, two notches below the issuer rating.
Business
Port City to take investor roadshow to Dubai on June 11
CPCEC Chairman Harsha Amarasekara says Middle East roadshow will pitch Port City as a supplementary investment zone, with CHEC and SL missions co-hosting.
Business
Rupee selling rate hits Rs.325 across major banks as currency weakens
Commercial bank selling rates touched Rs.325 to the dollar on Friday, the weakest level since the rupee's recovery cycle began in March.
Business
Shermans Logistics signs MoU with India's Glottis to build trade corridor
Esna Group's Shermans Logistics partners with India's Glottis Ltd on project cargo, renewable energy logistics and freight forwarding across both markets.
Business
EDB hosts Karachi Chamber delegation to push private-sector use of Pakistan FTA
Sri Lanka's Export Development Board and KCCI discuss greater FTA utilisation, B2B engagement and trade facilitation at Colombo meeting.
Business
SLIC General first Sri Lankan insurer to cross Rs.30bn in gross premiums
Sri Lanka Insurance Corporation General Ltd. says it has reached the milestone, strengthening its lead over private rivals in the general insurance market.
Business
Vietjet to launch four-weekly Colombo–Ho Chi Minh City direct flights from August
Vietjet Air will launch direct Colombo–Ho Chi Minh City flights in August with four round-trips a week, opening Asia-Pacific connectivity for Sri Lanka.
Business
ADB urges Sri Lanka to build long-term resilience after repeated shocks
ADB Country Director Shannon Cowlin says tsunami, terror, COVID, the economic crisis and Ditwah have exposed structural weaknesses needing deep reform.
Business
Cabinet clears $250m ADB-funded climate-resilient water and sanitation project
Five sub-projects covering Ambatale, Jubilee, Kolonnawa, Lunugamvehera and Jaffna will move into procurement under a $250m ADB-backed initiative.
Business
Colombo-Hanoi and Ho Chi Minh City direct flights to launch during Vietnam visit
Vietnam Airlines and VietJet Air will officially launch direct services to Sri Lanka during Tô Lâm's May 7-8 state visit, opening a new ASEAN air corridor.
Business
Colombo stocks close near 23,000 mark on US-Iran peace hopes
ASPI rose 1.13 percent to 22,997 on Thursday, just shy of the 23,000 mark, as reports of a US one-page MoU to Iran lifted regional risk sentiment.
Business
Dhammika Perera adds Rs. 4.6 billion to Hayleys via historic rights issue
The Hayleys co-chairman subscribed to 22.95 million shares at Rs. 200 each in the conglomerate's first rights issue since he took control in 2009.
Business
EU-backed initiative says GSS+ bonds have mobilised Rs. 85bn in Sri Lanka
EU's Green Recovery Facility says recent GSS+ bond issuances have raised Rs. 85bn (EUR 186m) for renewable energy, water and social infrastructure in Sri Lanka.
Business
Free Trade Zone manufacturers urge PUCSL to activate power wheeling under Section 13
FTZMA told the PUCSL consultation that activating Section 13 would save foreign exchange and unlock private renewable investment at no cost to the Treasury.
Business
German investors to visit Colombo for German Business Forum 2026 in May
Potential German investors will visit Colombo for the German Business Forum 2026 on May 27-29, the BOI confirmed, with apparel and rubber anchoring trade.
Business
India rejects China claim, asserts it remains Sri Lanka's top trade partner
Indian HC Santosh Jha cites US$ 6.4bn 2025 trade turnover after Beijing's embassy in New Delhi claimed China had become Sri Lanka's No. 1 trading partner.
Business
Marine Drive to extend to Moratuwa as Port Access Road slips to August
Transport Minister Bimal Rathnayake says the contractor is delaying the Galle Face link, with the second segment to Lotus Roundabout now slated for mid-2027.
Business
Oil prices extend sharp decline as US-Iran diplomacy cools Hormuz fears
Brent fell 3.5 percent to $97.5 and WTI 3 percent to $92 as a US one-page MoU to Iran via Pakistan signalled a shift toward diplomacy over the Strait of Hormuz.
Business
Cabinet grants strategic business status to six Colombo Port City firms
The six designated companies are expected to bring $14.6m in FDI and 650 jobs across IT, logistics, consultancy and maritime technology over five years.
Business
Renewable energy SMEs warn of collapse as NSO unpaid dues hit Rs.10bn
Federation of Renewable Energy Developers says 389 plants face NPL wave after the National System Operator halted payments since December 2025.
Business
Sri Lanka missing out on $60bn Japan export market, business forum told
EDB Chairman says exports stuck near $2.7-2.9bn despite vast potential; Japanese envoy Isomata urges acceleration of SL-Japan-India industrial corridor.
Business
SLTB to import 200 luxury buses for expressway routes as private operators slam Metro Bus plan
Procurement starts for 170 expressway and 30 long-distance buses; private operators allege Rs.7bn wasted on parallel Metro Bus scheme.
Business
Sri Lanka Sells Extra Rs 8.4bn Treasury Bills on Tap, Week Total Rs 108bn
Public Debt Management Office sold three-, six- and 12-month bills at 8.20%, 8.24% and 8.52% on tap, on top of Rs 100bn raised at Wednesday's auction.
Business
MP questions $26.6mn SriLankan Airlines aircraft lease after RTI disclosure
Opposition MP Dayasiri Jayasekara questions SriLankan's eight-year, $26.6mn lease for a 14-year-old Airbus A330, after RTI Commission ordered disclosure.
Business
Cabinet recognises Sri Lanka National Export Development Plan 2026–2030
Cabinet has approved the Industries Minister's resolution recognising the National Export Development Plan 2026–2030 as the country's official export strategy.
Business
Colombo Dockyard reports Rs. 428mn quarterly loss as India's MDL completes 51% takeover
Loss narrowed from Rs. 634mn a year earlier as revenue rose 7.6%; capital infusion of Rs. 12.93bn closes the Mazagon Dock acquisition.
Business
Colombo stocks rise, T-bill yields flat, but rupee slips Re. 1 against dollar
ASPI rose 0.69% to 22,739 with all Rs. 100bn T-bills sold at flat yields, but the rupee weakened to 321.00/30 to the dollar from 319.90/320.40 a day earlier.
Business
Tourism industry pushes back against government plan for blanket e-cigarette ban
Operators warn the prohibition could deter European and UK visitors, where vaping has overtaken traditional smoking; NATA has tabled the amendments.
Business
Gold prices in Sri Lanka jump Rs. 7,000 as international price hits USD 4,648/oz
A 22-carat sovereign now sells for Rs. 363,400 in Pettah; 24-carat reached Rs. 395,000 as Iran-war uncertainty pushes bullion to record highs.
Business
Sri Lanka issues RFI for green hydrogen and ammonia projects, targets USD 1bn export by 2030
Energy Ministry and BOI invite local and international developers to submit project concepts for green hydrogen and ammonia manufacturing, storage and export.
Business
Cabinet clears ADB advisory for 150 MW Kondachchi wind power and battery storage project
$1.2 mn ADB technical assistance grant funds the transaction advisory; the wind farm pairs with battery storage to deliver firm renewable power to the grid.
Business
LAUGFS Raises 12.5kg LPG Cylinder by Rs. 545 to Rs. 6,245 from Midnight
LAUGFS Gas hikes LPG prices from midnight May 7, citing global market pressures, opening a Rs. 1,480 gap with Litro on a 12.5kg cylinder.
Business
Litro keeps LP gas prices unchanged for May despite rising costs
Litro Gas Lanka will hold cylinder prices flat through May, citing consumer relief, even as international LPG and exchange-rate pressures persist.
Business
Sri Lanka raises special commodity levy on imported maize to Rs. 50 per kg
Finance Ministry gazette extraordinary sets the rate from May 5 through December 31, 2026 — a protectionist measure for local poultry feed producers.
Business
Sri Lanka invites investors for green hydrogen and ammonia projects
The Ministry of Energy and BoI have issued a Request for Information for green hydrogen and ammonia projects with submissions due by June 5.
Business
ADB backs India–Sri Lanka grid link as Pan-Asia power initiative gains pace
Senior ADB energy director Priyantha Wijayatunga calls the India grid link Sri Lanka's most promising power option, says ADB ready to support the project.
Business
Sri Lanka, South Korea formalise USD 267mn EDCF debt restructuring covering 18 loans
Amendment agreements were exchanged at the 2026 EDCF Policy Dialogue and complete the bilateral leg of Sri Lanka's external debt restructuring with Korea.
Business
SriLankan Airlines Rs. 91.3bn state-bank debt restructured; PPP and management contract on the table
Minister Karunathilaka tells Parliament the carrier's total liabilities stand at USD 993.78mn and Treasury will continue twice-yearly capital injections.
Business
Upcountry railway: 92 of 97 Cyclone Ditwah damage sites restored
Deputy Transport Minister Gunasena inspects progress as five sites between Rambukkana and Kadugannawa remain under NBRO engineering review.
Business
World Bank Pledges Support for Sri Lanka's Revenue Institution Reforms
World Bank Country Manager Gevorg Sargsyan met the President's Secretary to discuss reform of revenue-generating state bodies and integrity safeguards.
Business
Australia and FAO launch AUD 2 million cyclone recovery project for highland vegetable farmers
12-month initiative will reach 2,400 smallholders in Nuwara Eliya and Badulla, restoring climate-resilient vegetable production after Cyclone Ditwah.
Business
Melstacorp, Aitken Spence offer Rs. 30 a share to Browns Beach Hotels minorities
Joint exit offer to minority shareholders runs from May 5 to June 5 ahead of delisting from the CSE, after sustained losses since 2019.
Business
First half of CEB VRS compensation to be paid by May 15, Energy Minister tells Parliament
Anura Karunathilaka says 50% of compensation for ex-CEB retirees will be paid via Treasury funds by May 15, with the remaining 50% to follow shortly after.
Business
Colombo stocks slide 0.49% as Middle East panic selling drags banks lower
ASPI ends at 22,584, with First Capital citing 'panicked retail selling' tied to Middle East escalation and Hormuz fears.
Business
Customs revenue beats April target by 30.5%, four-month collections jump 49.8%
Sri Lanka Customs collected Rs. 236.5 billion in April against a Rs. 181.2 billion target, with cumulative four-month revenue at Rs. 919.3 billion.
Business
Deputy Minister denies VAT hike, says 20.5% rate is consolidation of two taxes
Nishantha Jayaweera says financial services VAT and SSCL are being merged into a single 20.5% rate, not raised, ahead of the July 1 amendment.
Business
Fertilizer Secretariat denies overpriced import claims, cites global urea prices above USD 900
Fertilizer Secretariat rejects claims Sri Lanka overpaid for urea at USD 800 per tonne, citing the Indian benchmark against Kazakhstan's USD 220-320.
Business
Sri Lanka Moves to Stabilise Grid With Software, Battery Storage and Synchronous Condenser
Energy Minister Karunathilaka tells Parliament Sri Lanka is procuring grid-stability software, battery storage and a World Bank synchronous condenser.
Business
IMF leaving Sri Lanka out of GDP projections signals fragile recovery, Wignaraja warns
Ganeshan Wignaraja says the IMF's blank GDP forecast groups Sri Lanka with Syria and Lebanon, exposing debt-restructuring risk and weak foundations.
Business
India HC Jha urges 'bold reset' on trade and Palk Strait connectivity
Indian HC Santosh Jha calls for permanent land link, ETCA progress and submarine power line, citing 50% FDI share and 65% FTA usage by SL exporters.
Business
Cabinet clears land acquisition for Kelani Valley railway upgrade, Maradana to Avissawella
Cabinet approves land acquisition across seven DS divisions for the long-delayed Kelani Valley line upgrade from Maradana to Avissawella.
Business
Sri Lanka Faces Medicine Shortage Risk as Rupee Falls 5.6%, Price Caps Hold
Rupee depreciation and frozen drug price caps are squeezing pharma importers; Health Minister Jayatissa says a ceiling-price revision is under review.
Business
Cabinet awards Menzies Aviation AUD 8.32mn SriLankan Airlines ground handling deal at Sydney
Menzies Aviation Australia wins a three-year SriLankan Airlines ground handling contract at Sydney Airport worth AUD 8.32 million.
Business
Merchant Bank of Sri Lanka to raise Rs. 999mn via preference share rights issue
BoC subsidiary to offer 4 new preference shares for every 21 ordinary shares at Rs. 10 each to bolster Tier I capital, with a 5-year-yield-linked dividend.
Business
Cabinet approves Rs. 2bn upgrade of 25.6km of southern A2 highway
Cabinet awards Rs. 2.026 billion to rehabilitate two A2 southern corridor stretches: Kamburugamuwa-Dewinuwara and Talalla-Kudawella.
Business
Sri Lanka construction PMI slows to 57.1 in March from 70.3 in February
The Central Bank's construction PMI fell to 57.1 in March from 70.3 in February, with firms citing fuel shortages and Middle East-linked supply bottlenecks.
Business
Cabinet awards Rs.1.46bn vehicle tenders to United Motors, Toyota Lanka and DIMO
Cabinet has awarded Rs.1,458mn in tenders for 16 double cabs, 84 single cabs and 9 tractors to United Motors, Toyota Lanka and DIMO for wildlife duties.
Business
Wimal Liyanagama appointed Sri Lanka Customs Director General from May 6
Cabinet approves Wimal Liyanagama to succeed Seevali Arukgoda as Customs Director-General; he currently heads Treasury's Management Services department.
Business
April tourist arrivals fall 24.8% to 135,643 as West Asia conflict bites
Final SLTDA data show April tourist arrivals fell to 135,643, down 24.8% on a year earlier, with India, China and the UK the top source markets.
Business
Colombo electric railway for suburbs to begin construction in early 2027
Bimal Rathnayake says work on a Colombo-Ragama-Makumbura-Panadura electric railway will start next year, with three to four years to complete construction.
Business
Customs seize 13,700kg of turmeric hidden inside chilli imports from India
Sri Lanka Customs detects two attempts to smuggle 13,710kg of turmeric concealed in dried chilli shipments from India in raids on Kandy and Badulla traders.
Business
Four Fuel Hikes in Five Weeks: Sri Lanka Faces Cost-of-Living Squeeze as IMF Formula Bites
Four fuel hikes in five weeks under the IMF cost-reflective formula, with transport and housing now the largest drivers of April inflation in Sri Lanka.
Business
China Tells Sri Lanka SINOPEC Won't Build Hambantota Refinery Without 30% Local Market Share
China says SINOPEC will not proceed with the USD 3.7bn Hambantota refinery unless Sri Lanka raises the local sales share from 20% to 30%.
Business
Sri Lanka breaks ground on first Metro Bus depot in Kadawatha
Construction has begun on Sri Lanka's first Metro Bus depot in Kadawatha — a Rs. 102 million facility due July 30 ahead of an August fleet expansion.
Business
Sri Lanka pilots online bus seat booking at busticket.gov.lk
Bimal Rathnayake launched a pilot online seat reservation system at busticket.gov.lk for long-distance private bus travel, with SLTB to follow.
Business
Rising rubber prices set to lift Sri Lanka's listed plantation counters
First Capital says AGAL, KGAL, KOTA and HOPL are well placed to gain from rising rubber prices, with Watawala and Sunshine leading the ASPI's gainers.
Business
Rupee closes at Rs. 319.60/320.00, banking-led rally lifts ASPI on Monday
The rupee closed at Rs. 319.60/320.00 to the dollar Monday as the ASPI rose on banking-counter buying led by NDB and longer-tenor bond yields edged up.
Business
Three sectors split on fuel hike: buses absorb, three-wheelers demand fares, restaurants hold prices
Bus operators say they will absorb the Rs.10 diesel hike, three-wheeler drivers want fares revised, and restaurant owners say food prices will not change.
Business
Hambantota Port in talks with CMA CGM, Evergreen as Hormuz disruption diverts vessels
HIPG confirms commercial discussions with two of the world's top container lines as West Asia instability forces shipping to seek alternative routes.
Business
Apartment buyers should rank as equal creditors to banks under Insolvency Bill, COPF told
TW Holdings chair Thilan Wijesinghe testifies that current law shuts out depositors at stalled projects; Bill scheduled for May 5 Parliament debate.
Business
Overseas Realty posts Rs. 1.9 billion PBT in Q1 2026 on rental rate gains
Overseas Realty (Ceylon) PLC reports Q1 group revenue of Rs. 3.29 billion and PBT of Rs. 1.93 billion; Mireka Tower revenue jumps 114% on higher occupancy.
Business
VAT Amendment Bill proposes 11 changes including threshold cut and 20.5% financial-services rate
Threshold drops to Rs.36mn, financial services VAT rises from 18% to 20.5% on July 1, mandatory POS adoption — Bill needs Parliamentary approval.
Business
Finance Ministry gazettes VAT amendments, digital services net from July 1
VAT will apply to services on electronic platforms from July 1 under a Gazette issued by the Ministry of Financial Planning and Economic Development.
Business
Vehicle prices set to rise on rupee weakness and higher taxes — VIASL
VIASL president Prasad Manange says continued rupee depreciation and recent tax increases will push imported vehicle prices higher in the near future.
Business
CAA catches Bokundara trader selling Keeri Samba at Rs. 360/kg as raids spread to Piliyandala
CAA officers caught a trader at the Bokundara Economic Centre selling Keeri Samba at Rs. 360/kg, Rs. 100 above the gazetted Rs. 260 maximum retail price.
Business
CPC raises fuel prices from midnight May 2 — petrol up Rs.12, diesel up Rs.10
CPC lifts 92 octane petrol to Rs.410, Lanka Auto Diesel to Rs.392 and kerosene to Rs.265 from midnight, with Lanka IOC matching the petrol and diesel hikes.
Business
Sri Lanka Tourism Crosses 858,000 Arrivals in First Four Months as April Slumps to 117,893
Sri Lanka logged 858,527 tourist arrivals in January–April 2026, but the month of April alone managed only 117,893 — the year's weakest monthly tally.
Business
Vehicle Imports Hit Rs. 195.95 Bn in Q1, Up 900% Year-on-Year — CBSL
Central Bank data shows Sri Lanka's vehicle import bill jumped 900% to Rs. 195.95 billion in Q1 2026, with Rs. 62.33 billion arriving in March alone.
Business
Colombo is 'a port for India,' Ceylon Chamber chief tells WION Summit
Krishan Balendra says 85% of Colombo port volume is Indian transshipment; Harsha and Sajith echo deeper India ties at Saturday's WION Summit.
Business
Cabinet awards $225,000 Adalimumab tender to India's Reliance Life Sciences
Sri Lanka's Cabinet approved a USD 225,000 contract with Reliance Life Sciences for 6,000 pre-filled Adalimumab syringes used to treat autoimmune conditions.
Business
AKD warns 'small-scale fuel price increases' may be necessary as energy crisis deepens
President says diesel costs Rs.482/litre to import while sold at Rs.382, with Rs.60bn allocated to subsidies as coal and reservoir levels worsen.
Business
Akkaraipattu shop fined Rs. 100,000 for selling Keeri Samba above MRP
Akkaraipattu Magistrate's Court fined a trader Rs. 100,000 after CAA officers found 2kg of Keeri Samba sold for Rs. 800 — Rs. 140 above the Rs. 260/kg cap.
Business
Consumer Sentiment Index Slumps to 70 in March, Lowest Since June 2024
Prosoft's Consumer Sentiment Index dropped 16 points to 70 in March, the steepest single-month fall since January 2021, on cost-of-living and energy concerns.
Business
CSE posts 7% monthly gain in April, best since July 2025
ASPI rose 7% and S&P SL20 5.1% in April with average daily turnover of Rs. 3.66 billion, NDB Securities said, despite a softer last trading day.
Business
Customs find 16 tonnes of turmeric, 1.1 tonnes of cashew hidden in gypsum boards
Customs Preventive Branch detects undeclared turmeric and cashew inside a Panwila importer's plasterboard shipment — second gypsum-concealment this week.
Business
PA seeks urgent action as Gulf crisis threatens 45% of Ceylon Tea exports
The Planters' Association warned $680m of Ceylon Tea exports — 45% of the total — are at risk as the West Asia and Hormuz crisis squeezes markets and inputs.
Business
Sri Lanka raises extra Rs. 10bn in T-bill tap auction at 8.25%
PDMO sold Rs. 10,040 million of 6-month bills on tap at 8.25%, lifting the past week's total to Rs. 136.94 billion. Settlement is May 4.
Business
ADB Pledges Over $100 Million to Diversify Sri Lanka's Exports
Asian Development Bank has agreed a special package exceeding $100 million to widen Sri Lanka's export market, EDB Chairman Mangala Wijesinghe said.
Business
Sri Lanka Posts Marginal Current Account Surplus in March, Q1 Surplus $531mn — CBSL
Trade deficit widened to $2.3bn on a 74.7% jump in fuel imports, while remittances rose 17.5% to $815mn and tourism earnings fell sharply.
Business
Colombo stocks fall 85 points as Brent crude tops $113
ASPI lost 0.38% to close at 22,549 on Thursday with capital goods leading turnover; regional markets also down on extended Iran blockade.
Business
DFCC Bank Partners with Dubai's AlfaNow to Expand UAE Remittance Corridor
DFCC Bank has tied up with Dubai-based AlfaNow to speed up UAE-to-Sri Lanka transfers as remittances rose 17.5% to $815mn in March.
Business
HSBC Ends Consumer Banking in Sri Lanka, 200,000 Accounts Move to NTB
HSBC's retail business closes today after CBSL-approved sale to Nations Trust Bank, ending decades of consumer banking presence.
Business
Sri Lanka's rooftop solar at a crossroads as tariff hikes drive uptake — former CEB GM
Net metering, accounting and net plus underpin the shift, but transformer capacity and approval delays still constrain household and commercial installations.
Business
Plantation Companies Plan Palm Oil Investments as Expert Panel Backs Ban Lift
Regional Plantation Companies plan palm oil investments after a 13-member expert panel found no environmental or health basis for Sri Lanka's seven-year ban.
Business
Rupee Falls Below 320 to Dollar as Inflation Returns to CBSL 5% Target
Sri Lanka's rupee closed at 319.75/320.00 to the US dollar on Thursday as April inflation hit the Central Bank's 5% mid-point target.
Business
Seylan Bank Q1 2026 Profit After Tax Rises 5.25% to Rs. 2.91 Billion
Seylan Bank reported a Q1 2026 profit after tax of Rs. 2.91 billion, up 5.25% year-on-year, with assets growing from Rs. 785 billion to Rs. 943 billion.
Business
Sri Lanka adds 17,081 active credit cards in February 2026
Active credit cards reach 2,193,380 as economic recovery and lower interest rates lift card usage; analysts flag possible slowdown from fuel rationing.
Business
Inflation jumps to 5.4% in April after 35% fuel price hike
Colombo CCPI surged from 2.2% in March to 5.4% in April, hitting the Central Bank's upper target as transport and energy costs spiked.
Business
Cabinet Approves Tabling of Central Bank Data Collection Rules in Parliament
Cabinet has approved submitting new CBSL rules formalising the bank's statistics powers and penalties for non-compliance, gazetted under the 2023 CBSL Act.
Business
CICT sets single-vessel record at 15,113 TEUs with MSC INGY call
Colombo International Container Terminals handled 10,407 moves on the MSC INGY, equivalent to 15,113 TEUs, beating its single-vessel handling record.
Business
CSE Closes Up as JXG Leads Turnover on Debut, Rupee Slips
ASPI rose 0.07% to 22,635 on Wednesday with Janashakthi Limited (JXG) up 37% on listing, while the rupee weakened to 319.75/320.60 against the dollar.
Business
Ceylon Tobacco Company Names Sarmad Abbasi MD and CEO Effective May 1
BAT veteran Sarmad Abbasi takes over from Fariyha Subhani as Managing Director and CEO of Ceylon Tobacco Company PLC from 1 May 2026.
Business
Sri Lanka Customs Beats April Revenue Target for Fourth Month Running
Sri Lanka Customs collected Rs. 186.5 billion in the first 27 days of April, exceeding its monthly target of Rs. 181.3 billion.
Business
Customs RTF Seizes 6.5 Tonnes of Turmeric Hidden in Gypsum Imports from India
Sri Lanka Customs detected 2,580kg of turmeric powder and 3,950kg of dried turmeric fingers concealed inside a gypsum plaster shipment from India.
Business
Emerald Acquires Hela Factories and Buys UK Focus Brands Unit for $8 Million
Emerald Investments acquired Hela's Thihariya and Palapathwala factories and UK subsidiary Focus Brands for $8 million, completing Hela's exit.
Business
FAO launches $300,000 e-voucher scheme for Cyclone Ditwah-hit paddy farmers
FAO will give 3,489 paddy farmers in Anuradhapura digital fertilizer e-vouchers worth $300,000 to recover production hit by Cyclone Ditwah ahead of Yala.
Business
LB Finance secures $15m senior debt facility from Switzerland-based Enabling Qapital
LB Finance raised $15 million in senior debt from Swiss impact manager Enabling Qapital via the EMF Microfinance Fund for MSME lending.
Business
Train Canteen Vendor Fined Rs. 100,000 for Selling Water Above MRP
A canteen vendor on the Colombo–Batticaloa 'Meenagaya' train was fined Rs. 100,000 for selling 1,000ml water bottles at Rs. 160 instead of the Rs. 100 MRP.
Business
NDB Independent Director Shanil Fernando Resigns from Board
Virtusa co-founder Shanil Fernando has resigned as NDB Independent Non-Executive Director effective April 27, four months after joining the board.
Business
Prima raises wheat flour by Rs. 5 to Rs. 225 per kg, citing fuel costs
Prima Ceylon raised wheat flour by Rs. 5 to Rs. 225 per kg from April 29 over higher transport costs; bakery owners say bread prices will hold.
Business
PUCSL Opens Public Consultation on Tariff Revision; 95% of Households Exempt, Final Decision May 9
PUCSL has invited written and oral submissions until May 6 on the NSO's revised Q2–Q3 cost estimate, with final tariffs to be announced May 9.
Business
Singer Sri Lanka Buys ACME Printing Factory in Piliyandala for Rs. 630 Million
Singer (Sri Lanka) signed a sale and purchase agreement to acquire ACME Printing and Packaging's Piliyandala factory for Rs. 630 million, the company said.
Business
ADB Team in Colombo to Review National Export Development Plan 2026–2030
An ADB delegation met EDB officials on Cabinet approval, Phase 2 technical assistance and a steering committee for the 2026–2030 export plan.
Business
CRIB Introduces Six-Month Credit Relief Window for Cyclone Ditwah Victims
Delayed payments by individuals and businesses hit by Cyclone Ditwah will not be reported as overdue, the Credit Information Bureau says; six-month window.
Business
JXG Shares to Begin Trading on CSE Tomorrow After Triple Oversubscription
Janashakthi Ltd. (JXG) will list on the Colombo Stock Exchange on April 29 after its Rs. 5 billion IPO drew bids worth Rs. 15.16 billion.
Business
Cabinet Calls for Investors to Develop Colombo 10 UDA Land as IT Hub on 50-Year Lease
Cabinet has approved a call for investment proposals to develop a 1.5-acre UDA land at Maradana Road as an IT and innovation hub on a 50-year lease.
Business
NSO Issues ADB-Backed Tender to Modernise National Grid for Renewable Integration
National System Operator opens international bids for SCADA and renewable energy management upgrade under ADB-funded PSSREIP, with May 14 deadline.
Business
NSO Files Revised Electricity Cost Estimate to PUCSL After Fuel Price Hike
National System Operator files a revised Q2 cost forecast to the regulator citing the recent CPC fuel price hike, paving the way for a fresh tariff revision.
Business
Sampath Bank's Rs. 10 Billion Green Bond Issue Earns 'A(EXP)(lka)' Fitch Rating
Fitch assigned Sampath Bank's proposed Rs. 10 billion Basel III subordinated green bond an expected A(EXP)(lka) rating, two notches below its AA-(lka) anchor.
Business
April Tourist Arrivals Reach 117,893 as YTD Total Climbs to 858,527
SLTDA's latest April figures show India 30% of arrivals; pace lags April 2025's 174,608 with two days remaining in the month.
Business
President AKD Meets IRD Officials to Broaden Tax Net and Recover Arrears
Discussions covered IRD restructuring, digitalisation, the national e-invoicing system, and recovery of outstanding tax arrears under the IMF programme.
Business
CAA Imposes Rs. 100,000–1 Million Fines on Traders for Rice and Water Overpricing
Court fines totalling over Rs. 2 million were imposed on traders across six districts after CAA raids on April 24 found rice and bottled water above MRP.
Business
CSE Closes Up 0.20% on Retail Activity, ASPI at 22,612
Sri Lanka's Colombo Stock Exchange closed up 0.20% on Monday with the ASPI at 22,612, lifted by retail activity in speculative shares; turnover Rs. 2.97bn.
Business
Diesel Landed Cost Nears $350 a Barrel as CPC Losses Top Rs. 280 Per Litre — Susantha Silva
Former CPC chief Susantha Silva says Sri Lanka's fuel import framework is unsustainable, with diesel at nearly $350/bbl and limited refinery options.
Business
Galle Traders Fined Rs. 200,000 by Court for Selling Rice Above MRP
Galle Additional Magistrate's Court fined two traders Rs. 100,000 each after they pleaded guilty to selling rice above the Maximum Retail Price in a CAA raid.
Business
Sri Lanka Budget Near-Surplus in January as Revenues Surge 35%
January 2026 deficit narrowed to Rs. 3.8 billion as tax revenues rose 35% on car-import liberalisation and recurrent spending grew just 1.2%.
Business
Sri Lanka and China Agree on Joint BRI Tourism Initiatives at Sichuan Symposium
Deputy Tourism Minister Ruwan Ranasinghe agrees Sichuan Cuisine Academy, Mountain Tourism Research Centre and student-enrolment expansion under BRI.
Business
Treasury Cash Surplus Built on Rs. 1.78 Trillion of Excess Borrowing, Verité Research Warns
Verité Research says Sri Lanka's improved Treasury liquidity reflects Rs. 1.78 trillion of excess borrowing rather than fiscal prudence.
Business
WindForce Secures $18mn IFC Loan for Siyambalanduwa Solar and Battery Storage
Sri Lanka's WindForce signs a two-phase $18 million loan agreement with the IFC to fund the Siyambalanduwa solar project and battery energy storage projects.
Business
Cabinet Approves Seven Solar Power Projects
Sri Lanka's Cabinet has cleared seven renewable energy solar projects from a shortlist of nine, with PUCSL clearance still pending.
Business
Government Invites Global Investors to Submit EOIs for Mattala Airport
The Ports & Civil Aviation Ministry has invited global investors to submit Expressions of Interest in aviation projects at Mattala Rajapaksa Airport.
Business
Sri Lanka's 2025 Vehicle Import Bill Hit USD 2.04 Billion — Third-Highest in History
Sri Lanka's 2025 vehicle import bill hit USD 2.04 billion, the third-highest on record, after restrictions were lifted in January 2025, per CBSL.
Business
ADB Flags $6 Billion Export Gap Straining Sri Lanka's External Stability
Asian Development Bank says Sri Lanka could raise exports 47 percent if unrealised capacity is tapped, with apparel, tea and spices leading the shortfall.
Business
Akbar Brothers Sponsors Rs. 35M Maradana Railway Station Facelift
Maradana Railway Station reopens upgraded facilities after a six-month Akbar Brothers renovation under the Sihinaya Gamananthaya programme.
Business
CBSL Forecasts Sharp Rise in Sri Lanka's 2026 Fuel Import Bill
Annual Review projects fuel costs will climb in 2026 on Middle East tensions, after the bill fell from $4.4bn to $4bn in 2025 on lower crude prices.
Business
CEB Posts Rs. 39 Billion Loss in 2025 Despite Tariff Revisions
CEB posted a Rs. 38.7 billion loss in 2025 as a January tariff cut left thermal generation costs uncovered during the dry spell, CBSL data shows.
Business
CPC: 95,000MT Crude Tanker Arrives Tomorrow; Fuel Stocks Secured Until June
CPC MD Neththikumarage confirms a 95,000MT crude tanker arrives April 26, with diesel and petrol cargoes to follow, securing fuel stocks to end-June.
Business
CPC Posts Rs. 36.4 Billion Profit in 2025, Third Consecutive Year in the Black
Ceylon Petroleum Corporation recorded Rs. 36.4bn profit in 2025, up from Rs. 34.2bn in 2024, under the cost-reflective pricing mechanism.
Business
Colombo Stocks End Week Down 0.9 Percent on Geopolitical Caution
ASPI sheds 205.7 points over the week as US-Iran tensions drag sentiment; foreign outflow hits Rs. 24.9 billion year-to-date.
Business
Finance Ministry Launches Roadmap for Insurance Sector Development
Sri Lanka's Finance Ministry has officially launched a strategic roadmap to guide growth and modernisation of the country's insurance industry.
Business
Haputale Restaurant Fined Rs. 1 Million for Overpricing Bottled Water
Bandarawela Magistrate fined a Welimada Road restaurant after a CAA Badulla raid found bottled water sold above maximum retail price.
Business
JXG Blames Middle East Conflict for Preferential IPO Allotment After CSE Order
Janashakthi tells the Colombo Stock Exchange that pre-marketing was forced by 'drastic shift in market sentiment' tied to the Iran-Israel war.
Business
Nestlé Lanka Names Manav Sahni as Chairman and Managing Director
Manav Sahni succeeds Bernie Stefan as Chairman and MD of Nestlé Lanka from 1 May 2026, as Stefan moves to a global role within the Nestlé Group.
Business
People's Bank Donates Rs. 300 Million to Rebuilding Sri Lanka Fund for Cyclone Ditwah Housing
People's Bank donated Rs. 300 million to the Rebuilding Sri Lanka Fund to fund Nuwara Eliya housing for families displaced by Cyclone Ditwah.
Business
Sri Lanka Launches National Event Calendar Website to Boost Tourism
The new srilankaevents.lk platform centralises information on cultural, sporting and business events for local and foreign audiences.
Business
Tourist Arrivals Exceed 840,000 to April 22; April Pace Slows
Sri Lanka tourist arrivals reached 840,411 between January 1 and April 22, with India leading at 176,465. April daily pace dropped versus prior months.
Business
25,000 MT Urea Shipment Due Early May, Total Yala Stock to Reach 151,000 MT
National Fertilizer Secretariat says incoming shipment will lift mid-May urea stocks to 151,000 MT against 125,000 MT needed for the Yala season.
Business
Brent Hits $106.80 as Trump Declares Hormuz 'Sealed Up Tight' for All Ships
Brent crude topped $106.80 Friday as Trump expanded the US blockade to require Navy approval for any vessel transiting the Strait of Hormuz.
Business
Cabinet Clears Retreaded Aircraft Tyre Imports to Ease SriLankan Airlines Costs
Cabinet lifts ban on retreaded aircraft tyre imports under HS 4012.13 for SriLankan Airlines and international carriers with certified supplier conditions.
Business
Castlereagh, Maussakelle Reservoirs Fall Rapidly as Dry Weather Persists
Maussakelle is 50 feet 11 inches below spill level and Castlereagh 40 feet 10 inches below, with submerged ruins re-emerging as hydropower pressure mounts.
Business
Colombo Stocks End Week Flat, ASPI at 22,567 as Rupee Pressure Persists
ASPI slips 1.05 points on Friday, ending a quiet week for the CSE while rupee forwards signal continued weakness beyond Rs. 318 per dollar.
Business
Fitch: Sri Lanka Faces Food Cost Pressure if US-Iran War Prolongs
Fitch names Sri Lanka, Philippines and Bangladesh as food-import vulnerable; fertiliser disruption from the Iran war threatens South Asia crops.
Business
NDB appoints KPMG as external auditor for 2026, replacing EY
National Development Bank has appointed KPMG as its external auditor for FY 2026, replacing EY, after the bank disclosed a Rs.13.2bn fraud undetected in 2025.
Business
Rupee Slides Past Rs. 317 With No Active Spot FX Market as CBSL Swap Printing Cited
Sri Lanka's forex market was hamstrung Friday with no active spot quotes, as analysts blamed CBSL money printing via swaps for the rupee's slide past Rs. 317.
Business
Samba rice prices drop at Pettah market after India imports
Ponni Samba and Kiri Samba rice prices have fallen sharply at the Colombo Pettah market after 27,000 metric tonnes were imported from India.
Business
Sri Lanka services exports fall 6.26% in March, ICT/BPM drops 26%
Sri Lanka services exports fell 6.26% in March 2026 to $286.9m, with ICT/BPM earnings down 26%, transport down 34%, construction down 39% year-on-year.
Business
Sri Lanka Q1 Exports Edge Up 1.6% to $4.3bn Despite March Hormuz Hit
Sri Lanka's first-quarter exports reached $4.3bn, up 1.6% YoY, before a 5.2% March drop tied to Hormuz disruption; UAE shipments collapsed 72.6% in March.
Business
Advocata Warns LPG Price Hike Inadequate, Forces Poor to Subsidise Wealthy
Advocata warns the Rs. 775 LPG hike leaves a Rs. 225–425 shortfall, pushing costs onto industrial users and low-income households.
Business
Brent Crosses $105 as Iran Vows Hormuz Stays Closed Under US Blockade
Brent oil hit $105.63 Thursday — first crossing of $100 since ceasefire — after Iran said it cannot reopen Hormuz while US naval blockade continues.
Business
Cabinet Greenlights Bill to Create Industrial Transformation and Innovation Authority
Single new authority would absorb IDB, NEDA and SEDD; draft Bill prepared with ADB technical assistance following December 2025 policy approval.
Business
Sri Lanka GDP Per Capita Crosses USD 5,000 for First Time in History
CBSL Annual Economic Review 2025 puts GDP per capita at USD 5,003, surpassing the pre-crisis 2018 high of USD 4,372 and the 2022 low of USD 3,464.
Business
CBSL Governor Courts Investors in Washington; US-SL Commercial Group Soft-Launched
CBSL Governor Nandalal met J.P. Morgan, Jefferies and HSBC in Washington; US-Sri Lanka Commercial Working Group soft-launched at US Chamber of Commerce.
Business
COPF Approves Port City Duty-Free Access for Locals, Narrows TEWA Exemptions
Parliament committee clears regulations easing Sri Lankan access to Port City duty-free shops and revises earlier Termination of Employment law exemption.
Business
CPC Confirms 9,500-Tonne Diesel Shipment Arrives April 27; Petrol to Follow
MD Neththikumarage says 9,500MT of diesel arrives April 27 and 35,000MT of petrol will reach Colombo before month-end as Brent crosses $105.
Business
CSE Foreign Outflow Tops Rs. 25 b YTD as Selling Resumes
Foreign investors were back as net sellers on Wednesday with a Rs. 2.52 b outflow, one day after ending a 21-session selling streak.
Business
EPF Assets Rise 13.6% to Rs. 4.9 Trillion in 2025, Equity Portfolio Up 27%
Employees' Provident Fund net worth climbed from Rs. 4.4 trillion to Rs. 4.9 trillion, with listed equity holdings rising to Rs. 188.9 billion, CBSL says.
Business
France Signals Positive Outlook on Sri Lanka's GSP+ Application
French Senate delegation led by Paoli-Gagin told FM Vijitha Herath France views Sri Lanka's GSP+ renewal positively and urged expanded garment exports to EU.
Business
Hambantota Port Sets Single-Vessel Record Handling 13,260 TEUs on MSC Marie Leslie
Hambantota International Port handled 7,968 containers and 13,260 TEUs on the MSC vessel between April 11–15, surpassing earlier March records.
Business
Austrian Trade Mission to Visit Sri Lanka in September, Minister Confirms
Industry Minister Handunneththi met Austrian Chamber of Commerce DG Otter in Vienna; Austrian business delegation scheduled for mid-September 2026.
Business
Hanif Yusoof Pitches Sri Lanka to SpaceX, Apple, Google in US Virtual Roundtable
Presidential Special Envoy chairs virtual session with 11 US companies and the US Chamber of Commerce to market Sri Lanka as a South Asia investment platform.
Business
Janashakthi JXG Allocates 48.6% of IPO to Strategic Investors
The oversubscribed JXG IPO allocated 243 million shares on a preferential basis to strategic investors, drawing analyst scrutiny over disclosure.
Business
NDB Appoints Deloitte Touche Tohmatsu India for Rs.13.2bn Fraud Forensic Review
NDB has named Deloitte Touche Tohmatsu India LLP to review the Rs.13.2bn fraud, with findings to be submitted directly to the Central Bank of Sri Lanka.
Business
Sri Lanka Goods Exports Fall 4.94% in March as Apparel, Tea Weaken
Sri Lanka's merchandise exports fell 4.94% YoY to $1.18bn in March on weaker apparel, tea and spice earnings. EDB calls it a 'temporary moderation'.
Business
SriLankan Airlines CEO Search Narrows to Four as Leadership Vacuum Nears a Year
Daily FT reports 200+ applications filtered to three foreigners and one local for Cabinet approval; Peter Hill under consideration for vacant chairmanship.
Business
WFP: Mideast War Drives Food, Fuel and Forex Risks for Sri Lanka Despite Recovery
UN agency warns Gulf volatility could reverse inflation and household welfare gains through energy, food, remittance and tourism channels.
Business
Air Fares Soar 24% as Iran War Forces Flights to Re-Route
Economy ticket prices are 24% higher than a year ago as airspace closures, Gulf carrier disruption and jet-fuel spikes reshape long-haul routes: Teneo.
Business
Automated Expressway Toll System to Launch by Year-End, Ministry Says
Transport Ministry advisor Sumudu Rathnayaka says automated expressway toll payment will launch before year-end, with procurement starting in coming weeks.
Business
Kandy Shop Hit with Legal Action for Hoarding LP Gas
The Consumer Affairs Authority raided a Kandy shop that was hoarding gas while falsely telling customers stocks were unavailable, with legal action to follow.
Business
Sri Lanka GDP Hits USD 108.8bn in 2025 as Budget Deficit Cut to 2.3%
Central Bank's Snapshot of the Sri Lankan Economy 2025 shows 5% real GDP growth, private sector credit up 25.2%, and government debt down to 91.6% of GDP.
Business
Foreign Investors End 21-Session Selling Streak at Colombo Stock Exchange
A net inflow of Rs. 19.8 million on Tuesday broke the streak, though year-to-date outflows still top Rs. 22.4 billion.
Business
Colombo Stocks Close Flat After Morning Ceasefire Rally Fades
ASPI ended up just 0.06% and S&P SL20 slipped 0.14% as Wednesday's Trump-extension relief rally faded; rupee weakened slightly to 316.75.
Business
External Shocks to Slow Sri Lanka's Economic Growth in 2026 — Economist
Prof. Priyanga Dunusinghe warns tourist arrivals have fallen 30%, agriculture and exports face external shocks, and 2026 growth will trail 2025.
Business
Fuel Distributors Seek President's Intervention Over Revised CPC Commission Structure
The Petroleum Distributors' Association says Ceylon Petroleum Corporation's fixed per-litre margin is unsustainable and threatens filling-station viability.
Business
Hayleys Rs. 9 Billion Rights Issue Oversubscribed at Rs. 11.05 Billion
Subscriptions of 55.2 million shares outran the 45 million offered, signalling investor appetite for Sri Lanka's largest diversified conglomerate.
Business
Rs. 356M Contract Awarded for Kelani Valley Railway Extension Study
Resources Development Consultants wins Cabinet contract for feasibility study on extending the line from Avissawella to Ratnapura.
Business
Motor Insurance to Shift to Cash-Before-Cover Model from 1 May
Credit periods will be cut from 90 days to 30 days initially and phased out, the Insurance Association said, aligning with global practice.
Business
Brent Slips to $98 as Ceasefire Extended, Vance Islamabad Trip Cancelled
Brent crude dipped 0.2% to $98.32 and WTI fell 0.3% as Trump extended the Iran ceasefire indefinitely and Vance's Islamabad trip was cancelled.
Business
Panama Canal Auction Bids Hit $4 Million as Hormuz Blockade Reroutes Trade
An LNG vessel paid USD 4 million to skip the Panama Canal queue as the Hormuz blockade pushes Asian refiners toward US oil and gas sourcing.
Business
Sri Lanka's PDMO Wins Commonwealth Debt Management Office of the Year
The PDMO secured Asia-Pacific honours at the Commonwealth Debt Management Forum in London — 15 months after its establishment under the 2024 Act.
Business
Sri Lanka Tea Output Falls 14.5% in March on Prolonged Dry Weather
Production dropped to 20.8 million kg in March from 24.4 million kg a year earlier, with High and Mid Grown teas the hardest hit, Asia Siyaka data show.
Business
Cabinet Awards SriLankan's Dubai Handling Contracts to Dnata for AED 40.64M
Combined three-year passenger and cargo handling contracts at Dubai International Airport replace agreements that have expired or expire in June.
Business
Sri Lanka Seeks UK Partnerships on Ports and Aviation, Karunathilaka Says
British HC Andrew Patrick offers UK state and private sector partnerships for Sri Lanka's ports and airports at a meeting with Minister Karunathilaka.
Business
Rathnayake says construction projects on track despite Middle East tensions
Minister says Central Expressway Phase III is 75% complete; CT Smith flags Rs. 2 trillion 2026-28 pipeline alongside input-cost risks.
Business
Colombo Stocks Close Up as Investors Watch US-Iran Ceasefire Talks
The ASPI gained 0.25% to 22,625.48 on Tuesday as brokers said volatility had been priced in ahead of the Wednesday US-Iran ceasefire deadline.
Business
Expressway Revenue Tops Rs. 536 Million Over 10-Day Avurudu Period
Sri Lanka's expressway network earned more than Rs. 536 million from vehicles travelling between April 10 and April 20, the Ministry of Transport said.
Business
Fitch Warns Sri Lanka, Other Frontier Oil Importers Face Balance of Payments Pressure
Fitch warns high energy prices will pressure the balance of payments of oil-importing frontier economies including Sri Lanka, amid Hormuz disruption.
Business
Fitch Withdraws CEB's A(lka) Rating After Utility Dissolved and Split Into Six
Fitch withdraws the CEB's A(lka) national rating after the utility was dissolved in March into six state-owned successor companies, ending its existence.
Business
Tourism Down 17.4%, Freight Up 40%: Industry Leaders Warn Recovery Under Strain
Forum hears $65m tourism revenue lost, one-third of airlines disrupted and 35% of global shipping routes affected as geopolitics hits Sri Lanka's recovery.
Business
IMF ties Sri Lanka's $700m EFF unlock to cost-reflective energy pricing
Srinivasan says Asia growth will slow from 5% to 4.4% in 2026; Sri Lanka's fiscal buffers allow targeted — but temporary — shock support.
Business
Japan Commits USD 2.6 Million for Climate Dairy and Women Deminer Projects
Japan provides USD 2.6 million via UNDP for a dairy programme in Kilinochchi and Nuwara Eliya and a women deminer expansion in the Northern Province.
Business
Pharma Chamber Warns of Looming Medicine Shortage Crisis in Sri Lanka
The SLCPI says import licence delays, Hormuz-linked freight costs, and rupee pressure threaten essential medicine supply, calling for urgent state action.
Business
Sri Lanka NCPI Inflation Climbs to 2.4% in March 2026
The National Consumer Price Index rose to 2.4% year-on-year in March, up from 1.6% in February, Department of Census and Statistics data shows.
Business
Sri Lanka Rupee Closes at 316.50/75, Bond Yields Steady Tuesday
The rupee weakened slightly to 316.50/75 per dollar while government bond yields held steady, with a Rs. 110 billion Treasury bill auction due Wednesday.
Business
April Tourist Arrivals Cross 88,000 as India Leads with 29% Share
Sri Lanka welcomed 88,221 tourists in April so far, with India accounting for 29% of arrivals and cumulative 2026 tourism reaching 828,845, SLTDA says.
Business
World Bank says para-tariff phase-out will cut duties 9 points, lift incomes
South Asia Economic Update projects 3.1% short-term consumption boost; processed food and beverages sector faces largest duty cuts.
Business
Shipping Executive Urges Sri Lanka to Tap Alternative Oil Routes Beyond Hormuz
Maritime executive Capt. A.B.C. Cashmere has written to President Dissanayake urging Sri Lanka to diversify oil sourcing away from the Strait of Hormuz.
Business
Central Bank Presents Annual Economic Review 2025 to President
CBSL Governor Weerasinghe presented the 2025 Annual Economic Review to President Dissanayake; the report credits reforms for resilience despite Ditwah.
Business
CBSL Survey Shows Resilient Business Outlook Between Cyclone Ditwah and Middle East War
The CBSL Business Outlook Survey captured continued expansion into early 2026 before the Middle East conflict disrupted global energy and supply chains.
Business
CBSL: No Evidence Other Banks Hit by NDB's Rs. 13.2bn Fraud, Forensic Audit to Begin Shortly
The Central Bank says no other regulated institution has suffered losses from the NDB fraud and a leading international firm will run a forensic audit.
Business
Colombo Stocks Close Down 0.89% as Hormuz Tensions Dent Monday Trade
ASPI lost 203 points to close at 22,570.03 on Monday as Middle East uncertainty weighed on sentiment, with Softlogic calling it a 'one-off' dip.
Business
CSE Slides, Rupee Weakens as Iran Tensions Dent Monday Market Open
ASPI fell 0.39% and the rupee softened to 316.40/80 in Monday midday trade as investors were unsettled by the escalating US-Iran standoff.
Business
Excise Department Beats Q1 Target with Record Rs. 70.4B Revenue
Excise revenue hit Rs. 70.4 billion in Q1 2026 — 113.6% of target, up 114.8% year-on-year, driven by tighter enforcement and security seals on liquor.
Business
IMF Cuts 2026 Global Growth to 3.1%, Warns of Recession Risk from Iran War
The IMF trimmed its 2026 global growth forecast to 3.1% and said a prolonged Iran war and 100-200% oil spike could push growth toward recessionary 2%.
Business
Oil Prices Jump 6% to $96 as Iran Refuses Islamabad Talks and US Seizes Tanker
Brent crude surged 6.4% to $96.13 in Monday Asian trading after Iran refused Islamabad talks and the US seized the Iranian-flagged Touska cargo ship.
Business
Sri Lanka's Three State Banks Report Record 2025 Profits; BOC Sets 87-Year High
People's Bank, Bank of Ceylon and NSB reported record 2025 profits as chairmen handed annual reports to President Dissanayake on Monday.
Business
Tourist Arrivals Cross 800,000 for 2026, but April Falls 27% as Iran War Bites
Sri Lanka's tourist arrivals hit 809,595 by mid-April, but daily visitor numbers fell 27% year-on-year as the Middle East conflict weighs on travel.
Business
India, Sri Lanka and UAE Renew Urgent Push on Trincomalee Oil Hub
Indian Foreign Secretary Misri says 'no time to lose' on the Sri Lanka-India-UAE Trincomalee oil hub as the Hormuz crisis raises supply urgency.
Business
Sri Lanka Vehicle Registrations Hit All-Time High in March, EVs Claim 83% of New Cars
Vehicle registrations rose 11.1% in March to a record 55,470 units on pre-tax buying, with BYD-led EVs accounting for over 83% of new car registrations.
Business
Sri Lanka Customs Revenue Hits Rs. 765.7 Billion by Mid-April, Tops Target
Customs revenue beat the period target by Rs. 71.8 billion as Middle East crisis rerouted cargo through Colombo Port, officials said.
Business
Expressway revenue tops Rs. 441 million from 1.17 million vehicles over nine-day Avurudu period
Sri Lanka's expressway network earned more than Rs. 441 million from 1.17 million vehicles between April 10 and 18, the Road Development Authority said.
Business
India Calls Colombo Dockyard Takeover a 'Strategic Sector' Investment
India's Foreign Secretary Misri calls MDL's 51% Colombo Dockyard stake a strategic sector investment during VP Radhakrishnan's visit.
Business
India and Sri Lanka Discuss Oil Pipeline Link at AKD-Radhakrishnan Meeting
India and Sri Lanka discussed a cross-sea oil pipeline and Trincomalee energy hub as Hormuz fuel costs threaten Sri Lanka's import bill.
Business
World Lost $50 Billion Worth of Oil in 50 Days of Iran War, Analysts Say
More than 500 million barrels knocked out since February — Gulf production losses equal ExxonMobil and Chevron combined output, according to Kpler data.
Business
Eight Hydropower Reservoirs Below 60% as El Niño Threatens Monsoon
Met Department warns June–September rains will be disrupted; FSP names ministers in March 24 decision to draw 330 million cubic metres from Victoria.
Business
Adani Overtakes Ambani as Asia's Richest, With Significant Sri Lanka Ties
Gautam Adani reclaims the top spot from Mukesh Ambani — both have major investments in Sri Lanka's infrastructure.
Business
CBSL Governor Holds China, India Bilaterals at IMF Spring Meetings
CBSL Governor Nandalal Weerasinghe met Chinese and Indian counterparts in Washington to discuss geopolitical risks and trade settlement.
Business
CPC Paid $281 to $288 Per Barrel of Diesel in Three March-April Shipments
Ceylon Petroleum admits three diesel cargoes between March 31 and April 8 carried premiums of $45-$50 over Platts, up from $3 pre-war.
Business
Colombo Stock Exchange Opens Galle Branch, Extends Regional Footprint to 12
The CSE opened its 12th regional branch in Galle, aiming to connect cinnamon and tea entrepreneurs in the Southern Province to capital markets.
Business
Energy Ministry Plans Annual Electricity Tariff to Replace Quarterly Revisions
Proposed formula would lock the tariff once at the start of the year, offsetting dry-season losses against wet-season hydro revenue.
Business
Fertiliser Jumps to $800/MT as Yala Paddy Yields Forecast to Drop 20%, Maize 30%
Next shipment priced at $800 per tonne, up from $650, as Hormuz-linked cost surge threatens Sri Lanka's Yala harvest and food prices.
Business
Audit Confirms Trident Chemphar Coal Caused Mill Fires and Capacity Drops at Lakvijaya
National Audit Office finds South African coal fell below rejection thresholds, sparked a mill fire on March 5 and cut units to as low as 214MW.
Business
Litro Gas Assures Uninterrupted LPG Supply Through May
State-owned Litro Gas says it can maintain continuous LP gas distribution throughout May despite Middle East energy disruptions.
Business
Port City Colombo Enters $15 Billion Phase as Vertical Development Begins
CHEC secures $300m for Phase II infrastructure as registered tenants pass 200 and investment commitments reach $1 billion.
Business
Shangri-La's One Galle Face Real Estate Profit Doubles to $14.2m in 2025
Hong Kong-listed Shangri-La Asia reports mall and luxury apartment profit up 173%, with Sri Lanka investment properties valued at $206.8m.
Business
Sri Lanka March Tourism Revenue Plunges 37% as Middle East Crisis Bites
Tourism earnings fell to US$223.7 million in March, with Q1 revenue down 15% year-on-year amid flight disruptions.
Business
SriLankan Says Airfares Up 150%, London Flights Two Hours Longer Amid West Asia Crisis
Corporate Communications Chief Deepal Perera says fuel, insurance and rerouting costs are pushing global airfares to 149-150% above pre-crisis levels.
Business
CBSL Orders International Forensic Audit of NDB Bank Fraud
Central Bank directs NDB to engage a leading international firm for a comprehensive forensic audit into the multi-billion rupee fraud.
Business
CPC Confirms Diesel Was Bought Above $286 Per Barrel, Says Crude Oil Was Not
CPC Chairman Rajakaruna clarifies diesel shipments cost $285–$288/barrel due to Middle East crisis, while crude oil stayed between $67–$112.
Business
First Crude Oil Tanker Since Middle East Conflict Docks at $71.99/Barrel — Two More Secured
Sri Lanka's first crude shipment since the Middle East conflict arrived at $71.99/barrel, with two more secured at $71 and $113.
Business
Fuel QR Concession Ends Tomorrow as CPC Resumes Rationing System
Avurudu-period exemption allowing fuelling without QR codes expires at midnight April 18; normal rationing resumes.
Business
CSE Gains 0.82% on Friday, Posts 2.91% Weekly Rise on Ceasefire Hopes
Colombo stocks rise for the week on positive geopolitical sentiment; ASPI closes at 22,773 with Rs. 4.97bn turnover.
Business
IMF Warns of Deepening Global Shock as Hormuz Disruptions Slash Oil Output by 13 Million Barrels Per Day
IMF's Jihad Azour says Hormuz crisis cut 13M barrels/day, pushed Brent to $118, and threatens food-import-dependent economies.
Business
IMF Chief Georgieva Reaffirms Support for Sri Lanka at Spring Meetings
IMF Managing Director congratulates Sri Lanka on staff-level agreement; Deputy MD Okamura urges cost-reflective energy pricing.
Business
Mahindra Ideal Finance Lists Oversubscribed Rs. 1 Billion Debenture on CSE
Indian-backed Mahindra Ideal Finance marks capital market milestone with fully oversubscribed debut debenture listing on Colombo Stock Exchange.
Business
Manufacturing Sector Records 4.1% Growth in February
Sri Lanka's Index of Industrial Production rose 4.1% year-on-year in February 2026, driven by fabricated metals and apparel.
Business
Petrol QR Code Fuel Quota System Resumes From Midnight April 18
CPC confirms the QR-based petrol rationing system restarts at midnight Saturday after a five-day Avurudu holiday suspension.
Business
Rupee Selling Rate Rises to Rs. 319 at Most Major Banks
Sri Lankan rupee depreciates further against the US dollar with selling rates hitting Rs. 319 at most commercial banks.
Business
Both Manufacturing and Services PMI Expand in March 2026 as Recovery Momentum Holds
Sri Lanka's services PMI surged to 59.4 and manufacturing PMI expanded in March, driven by festive demand and financial activity.
Business
Both Services and Manufacturing Sectors Expand in March as PMI Indices Surge
CBSL data shows services PMI hit 59.4 and manufacturing PMI reached 66.7 in March, both expanding despite Middle East uncertainty.
Business
Tea Planters Say QR Subsidies Inefficient, Call for Fertiliser Price Cuts
The NTPA says QR-based fertiliser subsidies fail to reach growers on time and urges the government to cut prices by removing taxes instead.
Business
Transport Minister Challenges Critics to Prove Sri Lanka Paid $268 for Crude
Minister Bimal Ratnayake asks media to produce evidence for circulating $268/barrel crude oil claim, calling the figure baseless.
Business
ADB Economist: Rupee Slide Amplifies Sri Lanka's Oil Import Costs
ADB Senior Country Economist Liliya Aleksanyan warned rupee depreciation is magnifying oil import costs and feeding imported inflation amid the Hormuz shock.
Business
Commercial Bank Partners NCG Express for Cashless Bus Ticketing
ComBank and NCG Express launch tap-card, Google Pay and QR bus fare collection in one of the first large-scale digital ticketing pilots on private buses.
Business
CPC rejects claim Sri Lanka paid $286 per barrel for crude oil
Ceylon Petroleum Corporation says no shipment was bought anywhere near $286 a barrel, listing post-conflict prices between $71 and $113.
Business
Fitch Warns Sri Lanka's Rs. 100bn Relief Package Risks Long-Term Debt Strain
Fitch says Asia-Pacific energy subsidies, including Sri Lanka's Rs. 100bn relief package, could weaken fiscal flexibility and strain state balance sheets.
Business
HSBC Chief Says Sri Lanka May Have Paid Up to $286 Per Barrel for Oil
HSBC CEO Georges Elhedery told a Hong Kong forum Sri Lanka paid up to $286 per barrel — the highest buyer price he has encountered during the Hormuz crisis.
Business
IMF says stronger revenues give Sri Lanka room to cushion energy shock
Asia-Pacific Director Krishna Srinivasan says Sri Lanka has doubled revenue-to-GDP since the crisis and has fiscal space to protect the poor.
Business
LP Gas Distribution Resumes Nationwide After Avurudu Break
Laugfs releases 5,000 MT of LP gas through Hambantota and Mabima terminals as both distributors restore operations.
Business
Mark Mobius, Sri Lanka's key post-war bond investor, dies at 89
Emerging markets pioneer whose Templeton fund held around $800 million in Sri Lankan bonds in the years after the 2009 war has died aged 89.
Business
Sri Lanka's Debt Restructuring Near Completion, GSDR Report Says
GSDR 6th report finds 1.7% of Sri Lanka's external debt remains unrestructured — on par with Ghana and Zambia at the restructuring finish line.
Business
SriLankan Airlines suspends Bangkok country manager over airport clash
SriLankan Airlines says its Bangkok country manager was involved in a confrontation with flight crew at Suvarnabhumi on April 2 and has been recalled.
Business
US to Launch Tariff Refund System April 20 for $166bn in Tariffs Struck Down as Unlawful
US Customs will launch the CAPE refund system on April 20 to return $166bn paid by 330,000 importers in tariffs the Supreme Court ruled unlawful in February.
Business
CPC Confirms 36,700 MT Petrol Shipment Arrives from India
Ceylon Petroleum Corporation receives 36,700 metric tonnes of Octane 92 petrol from India as post-Avurudu fuel replenishment begins.
Business
CSE Closes Up 0.6% on Post-Avurudu Rebound; T-Bill Yields Rise
ASPI closes at 22,261 with Rs 3bn turnover; T-bill yields up 20bps; rupee flat at 315.55/65 as markets reopen after holiday.
Business
West Asia Energy Shock Now Showing in March Inflation Data, Fitch Warns
Fitch says March CPI rose 0.8% month-on-month across major economies as energy shock begins flowing through to consumer prices.
Business
Foreign Investors Sell Rs. 697 Million in Sri Lanka Rupee Bonds
Foreign investors offloaded US$2.25 million in government securities in the week ended April 10 amid Middle East war caution.
Business
Gold Prices Climb Rs. 4,000 in Sri Lanka as Markets Reopen
22-carat sovereign rises to Rs. 369,900 and 24-carat to Rs. 402,000 as gold rallies on Middle East safe-haven demand.
Business
IMF Warns Against Broad Fuel Subsidies as War-Driven Energy Shock Bites
IMF MD Georgieva urges targeted support over blanket fuel subsidies, warns untargeted measures will prolong high prices.
Business
IMF Cuts Emerging Market Growth to 3.9% as War Hits Commodity Importers Hardest
IMF projects EMDE growth at 3.9% for 2026, cuts China to 4.4% and India to 6.5% as war drives energy and food costs.
Business
IMF Chief Says War Reversed a Global Growth Upgrade That Was Coming
Georgieva says global growth was building momentum for an upgrade before the Middle East war reversed the trajectory.
Business
IMF Warns Middle East War Quietly Raising Financial Stability Risks
IMF Spring Meetings caution that market resilience should not be taken at face value as global debt heads for 100% of GDP by 2029.
Business
IMF Chief Economist Warns World 'Already Drifting' Toward Adverse War Scenario
Pierre-Olivier Gourinchas says every day of energy disruption pushes the global economy closer to 2.5% growth, down from 3.4%.
Business
Census Warns of Shrinking Workforce as Elderly Set to Outnumber Children
EconomyNext analysis: 52.7% of working-age Sri Lankans are economically inactive; ageing index nears the tipping point.
Business
Sri Lanka Expressways Earn Rs. 196 Million in Four Days as Avurudu Travel Peaks
Over 520,000 vehicles used the expressway network during the Avurudu festive rush from April 10-13, the RDA reports.
Business
IMF Warns Middle East War Could Slash Global Growth to 2% Under Severe Scenario
IMF maps three war outcomes: growth slows to 3.1% if conflict is short, drops to 2% if energy disruptions extend into 2027.
Business
NDB Fraud Pattern Extends to Other Banks and NBFIs, Karunanayake Tells Parliament
Former finance minister says CBSL's accountability failures allowed the NDB fraud model to spread to 5-7 other banks and up to 9 NBFIs.
Business
Oil Prices Drop Below $100 as US-Iran Dialogue Hopes Ease Supply Fears
Brent crude falls 1.9% to $97.50 and WTI drops 2.3% to $96.83 as signs of renewed US-Iran talks reduce Hormuz supply risk.
Business
Solar Panel Owners Asked to Switch Off Inverters on New Year Day
Grid operator requests voluntary rooftop solar shutdown until 3pm citing low Avurudu demand and excess generation risk.
Business
Former Insider Alleges Revenue Cartel at SriLankan Airlines, Calls for External CEO
Former insider alleges revenue cartel in SriLankan Airlines commercial division, urges external CEO appointment.
Business
CAA Extends Consumer Protection Raids Until April 30 After Nearly 2,000 Inspections
Consumer Affairs Authority says special festive season raids will continue through April 30 with nearly 2,000 conducted since March 20.
Business
30,000MT Furnace Oil Shipment Arrives as CPC Assures Uninterrupted Power Supply
CPC Chairman confirms arrival of furnace oil vessel, says power cuts are off the table as fuel stocks stabilise.
Business
Interpol Experts to Join NDB Fraud Probe as Investigation Goes International
CID requests Interpol virtual currency specialists from Lyon to assist Rs. 13.2 billion NDB fraud investigation; four suspects in remand.
Business
Norochcholai Unit 1 Shut Down as Avurudu Holiday Cuts Electricity Demand
Lakvijaya shuts one of three 300MW units due to lower demand; Units 2 and 3 continue operating normally.
Business
Oil Surges Past $100 as US Begins Blockade of Strait of Hormuz
Brent crude jumps 8% to $102.80 as CENTCOM prepares to enforce full naval blockade of Iranian ports from Monday.
Business
ADB Warns Sri Lanka Faces Fresh Food Inflation as Fertiliser Prices Surge 50%
ADB economist cautions urea prices up 50% and ammonia up 40% since February could push up Sri Lanka's food costs later this year.
Business
CAA Deploys 350 Officers to Continue Market Raids Through Avurudu Season
Consumer Affairs Authority says enforcement will not pause during festive season, with 6,000 inspections completed since January.
Business
Cabinet Approves Weekly Fuel Price Revision Formula Linked to Global Oil Rates
Sri Lanka's Cabinet gives the green light for a new fuel pricing formula allowing multiple price revisions per month based on world oil fluctuations.
Business
Former CEB Employees Claim VRS Compensation Still Unpaid After Restructuring
Employees who accepted voluntary retirement when CEB was dissolved on March 9 say promised payments have not been made.
Business
Heavy Rains End Three-Month Dry Spell in Central Hills Catchment Areas
Thundershowers hit Castlereagh, Maussakelle and Upper Kotmale, easing drought that had depleted hydropower reservoirs.
Business
Substandard Coal to Cost Sri Lanka 250 GWh of Electricity Over Three Months
Sri Lanka faces 250 GWh electricity loss from substandard coal at Lakvijaya over the April-June quarter.
Business
Hotels Report Sharp Drop in Domestic Bookings as Fuel Crisis Dampens Avurudu Travel
Sri Lankan hotels face steep decline in domestic tourist bookings during Avurudu season as fuel shortages and rising costs deter travel.
Business
Middle East War to Dominate IMF and World Bank Spring Meetings
World Bank cuts emerging market growth to 3.65% and raises inflation forecast to 4.9% as war shock overshadows Spring Meetings.
Business
PUCSL Rules Out Passing Coal Crisis Costs to Electricity Consumers
The utilities regulator says extra costs from Sri Lanka's coal procurement crisis will be excluded from all future electricity tariff revisions.
Business
Tea Smallholders Say Government's 25,000 MT Fertiliser Offer Covers Less Than 60% of Needs
Tea growers criticise government's one-off 25,000 MT fertiliser subsidy as inadequate for 267,000 hectares of cultivation.
Business
Chilaw Plantations Posts Record Rs. 650 Million Profit for 2025
State-owned plantation company reports threefold profit increase to Rs. 650M, distributes Rs. 137M in employee bonuses.
Business
CPC Chairman Confirms 12 Fuel Shipments in April, No Petrol Shortage Until June
Ceylon Petroleum Corporation says petrol is secured until June and diesel until May as 12 shipments arrive this month.
Business
CPC Suspends Petrol QR Quota System Until April 18 for Avurudu
Petrol vehicle owners can fuel up without QR codes from midnight tonight until April 18 as CPC eases restrictions for the holiday.
Business
CSE Records Rs. 401 Billion Weekly Market Cap Gain on Ceasefire, IMF Optimism
ASPI surges 4.78% for the week as Iran ceasefire, IMF deal, and NCM outcome lift investor sentiment.
Business
Fitch Downgrades NDB to A-(lka) Over Rs. 13.2 Billion Fraud
Fitch cuts NDB's rating to A-(lka) with Negative outlook after internal fraud eroded capital buffers and weakened risk controls.
Business
Industry Ministry Reports Rs. 31 Billion in SME Loans Approved in Q1 2026
Over 5,000 businesses received financing as ministry outlines industrial recovery milestones and upcoming investment forum.
Business
No Fertiliser Shortage: Government Confirms Surplus Stocks Ahead of Yala Season
Deputy Agriculture Minister says farmers should not fear shortages as surplus fertiliser stocks are confirmed for Yala.
Business
Rupee Depreciates 1.8% Against US Dollar in 2026 as Middle East Conflict Weighs
CBSL confirms rupee has weakened 1.8% against the dollar in 2026, driven by Middle East conflict pressures.
Business
Workers' Remittances Surpass $2.2 Billion in Q1 2026, Up 26.5%
Sri Lanka received $814.8 million in March remittances, pushing Q1 total to $2.29 billion despite the Middle East crisis.
Business
Sri Lanka Resumes South Korea E-8 Seasonal Jobs Programme, First Batch Departs April 14
First group of 16 workers to travel to Yeongwol for agricultural jobs after government revives programme halted by irregular arrangements.
Business
Sri Lanka Tourism Holds First-Ever Dhaka Roadshow to Tap Bangladesh Market
SLTPB hosts 147 Bangladeshi travel agents and 35 journalists at inaugural Dhaka B2B event to diversify source markets.
Business
ADB Projects Sri Lanka Growth to Moderate to 4% in 2026
ADB forecasts Sri Lanka's GDP growth slowing from 5% to 4% in 2026 as Middle East conflict and inflation weigh on recovery.
Business
ADB Warns Sri Lanka Could Lose Up to 0.8% GDP Growth if US-Iran Conflict Persists
ADB economist says prolonged US-Iran war could cut Sri Lanka's 2026 growth by 0.5-0.8% and add 3-5pp to inflation.
Business
AmCham Sri Lanka Calls for Policy Clarity to Attract Quality FDI
AmCham president says regulatory uncertainty is the biggest barrier to investment and announces a new coordination platform.
Business
CAA Seizes Rs. 10 Million Worth of Unlabelled Cosmetics in Pettah Raid
Consumer authority raids Pettah warehouse, confiscates imported skin-whitening products lacking mandatory labelling.
Business
Central Bank Assures NDB Depositors Their Accounts Remain Safe
CBSL says NDB operates above minimum capital requirements and customer deposits are unaffected by the internal fraud.
Business
CEB Orders 10-Day Shutdown of Large Rooftop Solar Systems
CEB orders rooftop solar systems above 300 kW to disconnect April 10–20 to prevent grid instability during the Avurudu holiday period.
Business
China Will Not Allow Fuel Crisis in Sri Lanka, Ambassador Pledges
Chinese Ambassador Qi Zhenhong assures Sri Lanka that China will not permit a fuel crisis under any circumstances.
Business
Colombo Stocks Close Up 1.30% on NCM Day as Dialog, JKH Lead Gains
ASPI closes at 22,129 (+1.30%) as markets shrug off NCM; NDB recovers 3.74% despite fraud probe; Rs. 5bn turnover.
Business
HNB Finance Plans Rs. 2.5 Billion Rights Issue to Boost Capital
HNB Finance to raise Rs. 2.5 billion via rights issue at 2-for-9 ratio to improve capital adequacy.
Business
IMF Flags Coal Quality Issues as Key Driver of Sri Lanka's Rising Power Costs
IMF Mission Chief Papageorgiou highlights coal procurement failures pushing up electricity costs after review.
Business
5,000 Metric Tons of Samba Rice Arrive From India Ahead of Avurudu
Two cargo vessels carrying samba and keeri samba rice from India dock in Sri Lanka, easing supply concerns before the New Year.
Business
Sri Lanka IRD Records Rs. 606 Billion Revenue in Q1 2026
Inland Revenue Department reports Rs. 606 billion in Q1 tax collections, a 17.7% increase over last year.
Business
2026 Mercantile Holidays Confirmed: Avurudu April 13-14, Vesak Day After Stays May 2
Labour Commissioner confirms eight mercantile holidays for 2026; Vesak following day unchanged at May 2 despite calendar queries.
Business
Bus Permit Transfer Rules Approved; Minister Warns Against Fare-Driven Strikes
NTC advisory committee approves bus permit transfers under gazette reforms; fare adjustment cabinet approval being sought.
Business
Planters' Association Warns of Second Fertiliser Crisis as Hormuz Chokes Supply
The Planters' Association warns Sri Lanka is sliding into a second fertiliser crisis five years after the 2021 ban as Hormuz disruption chokes supply.
Business
Port City Colombo Draws $900m in Five Months as FDI Momentum Builds
Port City Colombo secured about $900 million in investments between November 2025 and March 2026, its largest surge yet, with nearly 200 companies registered.
Business
Sri Lanka Awards Record Rs. 629.8 Million Lottery Jackpot
The largest lottery prize in Sri Lanka's history is paid out under the Jayamalle Kapruka Lottery at a ceremony today.
Business
Sri Lanka Seeks Green Industrial Partnership with UNIDO at Vienna Forum
Minister Handunneththi pitches sustainable manufacturing and youth entrepreneurship at Vienna Energy and Climate Forum.
Business
SSCL Amendment Widens Tax Net With Lower Rs. 36 Million Threshold
Social Security Contribution Levy threshold drops from Rs. 60M to Rs. 36M turnover, drawing more businesses into the tax base.
Business
Australia and CBSL launch trilingual financial literacy push for small businesses
Australia and CBSL are reworking MSME training into mobile-first, trilingual content under Australia's Skills for Inclusive Economy program.
Business
India's Mazagon Dock Chief Named Colombo Dockyard Chairman After MDL Takeover
Capt. (Retd.) Jagmohan, chairman of India's Mazagon Dock Shipbuilders, has been named non-executive chairman of Colombo Dockyard after MDL's 51% takeover.
Business
Colombo Stocks Close Down 0.33% Despite IMF Staff-Level Agreement
CSE closes 0.33% lower on global uncertainty despite IMF staff-level agreement; NDB recovers 3.41%; Cargills rights issue shares listed.
Business
Colombo Stocks Slip 0.72% at Midday Despite IMF Deal; NDB Leads Gainers
ASPI falls 157.96 points at midday April 9 as Middle East flare-up offsets positive IMF news; NDB, LB Finance and Janashakthi lead the rebound.
Business
Early April Tourist Arrivals Drop 22% as Middle East Conflict Disrupts Travel
Sri Lanka recorded 39,627 tourist arrivals in the first eight days of April, down 22% from the same period last year, Daily FT reports.
Business
IMF Mission Chief Says Fund Is 'Watching NDB Fraud Carefully'
Evan Papageorgiou confirms IMF is in active dialogue with CBSL over the Rs. 13.2bn NDB fraud, backs the Central Bank's 'contained, not systemic' assessment.
Business
IMF Flags New Electricity Tariff Submission, Signals Board Decision by Early June
IMF Mission Chief Papageorgiou says Sri Lanka needs a fresh Q2 tariff filing after the Middle East shock; Board approval expected by early June.
Business
Sri Lanka to Sign IMF Staff-Level Agreement Today, $700M Disbursement Due Before May End
President Dissanayake confirms combined fifth and sixth review tranches will be released before end-May, alongside $1.2bn in ADB assistance this year.
Business
JXG IPO Oversubscribed on Opening Day, Fully Closes With Rs. 5bn Raised
Janashakthi Group's new holding company JXG closed its CSE listing offer fully subscribed within hours of opening, raising the targeted Rs. 5 billion.
Business
Karunanayake: Outdated Forex Rules Hobbling Tourism, Digital Services and SME Exports
NDF MP urges Finance Ministry to modernise Sri Lanka's foreign exchange and payments framework to capture new tourist and digital entrepreneur inflows.
Business
Parliamentary Committee Calls NDB Rs. 13.2bn Fraud a Serious Breach of Banking Governance
COPF chair Harsha de Silva calls the NDB Rs. 13.2bn fraud a serious governance breach; CBSL confirms capital and liquidity ratios remain adequate.
Business
Oil Prices Surge as Traders Doubt US-Iran Ceasefire Will Hold
Brent crude rose 2.74% to $97.35 and WTI climbed 3.2% on April 9 as traders reassessed the durability of the Pakistan-brokered US-Iran ceasefire.
Business
Vehicle Registration Delays Stretch to Seven Days as RMV System Buckles
Importers warn one-day service now takes six to seven working days after February 2025 import reopening pushed monthly registrations above 30,000.
Business
Ceylon Chamber Names Shiran Fernando Secretary General and CEO From May
Chief Economic Policy Advisor Shiran Fernando will succeed Buwanekabahu Perera from 8 May in a planned leadership transition.
Business
Over 200,000 SMEs Ceased Operations Between 2018 and 2022, Deputy Minister Says
Deputy Finance Minister Anil Jayantha Fernando cites SME collapse figure as evidence of the structural damage underlying the 2022 economic crisis.
Business
Rupee Weakens, Long-End Bond Yields Rise Despite IMF Deal
Rupee closed at 315.55/65 Thursday; long-end bond yields up; Treasury sold Rs 82.09bn of Rs 100bn offered in 2030-2037 bond auction.
Business
Revised Filing Seeks 53% Electricity Tariff Hike as Coal Crisis Drives Rs. 40bn Cost Surge
Island report says the revised NSO filing values the April–June burden at Rs. 40bn, roughly half of it directly linked to substandard coal imports.
Business
Tea Fertilizer QR Scheme Doubles Farmer Reach in Six Months, Beats Full-Year Targets
Sri Lanka's subsidised tea fertiliser scheme delivered 21,117 tonnes to 187,759 growers since October — more than double last year's annual totals.
Business
Vidullanka Buys Bhoruka Power Lanka, Taking Portfolio to 26 Projects
Listed renewable group acquires 100% of 4.5MW Aranayake mini hydro as part of diversification push into solar, wind and battery storage.
Business
Banquet and Catering Prices to Rise 15-20% from May, Industry Body Says
Banquet Owners' Association cites fuel crisis, VAT and raw material costs for the hike. Existing bookings will see a 10 percent surcharge from May.
Business
CAA Raids Dambulla Economic Centre Over Rice Price Violations Ahead of Avurudu
Multiple traders found selling rice above approved rates as Consumer Affairs Authority enforces island-wide pre-New Year price controls.
Business
Castlereigh and Maussakelle Reservoirs Drop Sharply as Dry Weather Hits Hydropower
Water levels at two key upcountry reservoirs have fallen sharply in dry weather, threatening output at five hydropower plants on the Kelani system.
Business
CBSL Will Force Bank Mergers If Industry Won't Consolidate, Governor Warns
CBSL Governor Weerasinghe says the regulator will mandate mergers if banks fail to strengthen balance sheets within the consolidation framework window.
Business
Sri Lanka's Official Reserves Fall 3.5% to $7 Billion in March
CBSL data shows reserves down $251 million as Middle East energy shock weighs on import bill; figure includes China swap line.
Business
Colombo Dockyard Signs Maritime Cooperation MoU With India's DCI
Colombo Dockyard has signed a cooperation MoU with India's state-owned Dredging Corporation of India, opening access to the larger Indian maritime market.
Business
Colombo Stocks Surge 4%, Rupee Firms as US-Iran Ceasefire Sparks Relief Rally
ASPI gains 859 points, bond yields drop sharply across maturities and rupee strengthens to 315.10 after Hormuz reopening news.
Business
Dissanayake Pledges Bigger Share of State Procurement for Sri Lankan Industries
President tells CUBA business alliance the government will rework tender access, as manufacturers raise cess taxes, illegal imports and clearance delays.
Business
Fort Railway Station to Get Rs. 2.1 Billion ADB-Backed Upgrade
Transport Minister Bimal Rathnayake said the Colombo Fort modernisation will be completed within 15 months under joint ADB and government funding.
Business
Cabinet Approves $25.17m Honeywell Contract for SriLankan Airlines APUs
Five-year repair and maintenance deal for aircraft auxiliary power units awarded to Honeywell International after lowest bid in international tender.
Business
Kuwait Airways Launches Weekly Colombo Service From April 15
Kuwait Airways will begin weekly Wednesday flights between Kuwait and Colombo from April 15, the second Gulf carrier to expand Sri Lanka routes this month.
Business
Lanka IOC Raises Diesel Prices; CPC Holds State Rates Steady
Lanka IOC lifted all three diesel grades by Rs. 28–39 per litre on April 8 as global prices surge; CPC kept its state diesel rate unchanged.
Business
Cabinet Awards Rs. 2.66bn JICA-Funded Anuradhapura Water Project to Maga Engineering
Phase II of the Anuradhapura North scheme will extend safe drinking water to 164 Grama Niladhari divisions currently dependent on unsafe groundwater.
Business
NDB Issues Official Statement, Puts Worst-Case Fraud Loss at Rs. 4 Billion
NDB Bank's first formal board statement on April 8 pegs the after-tax loss from its internal fraud at roughly Rs. 4bn — 0.7% of its Rs. 990bn asset base.
Business
Fourth Suspect Arrested in NDB Bank Rs. 13.2 Billion Fraud Probe
CID's Computer Crimes Division has arrested a fourth suspect in the NDB Bank fraud probe centred on Rs. 13.2 billion in alleged misappropriation.
Business
Karunanayake Grills CBSL on NDB Fraud Oversight in Parliament
MP Ravi Karunanayake asked parliament why CBSL bank supervision missed Rs. 13.2 billion in NDB outflows while ordinary depositors face heavy paperwork.
Business
NDB Shares Crash 15% as Trading Resumes After Fraud Halt
NDB Bank stock fell to Rs. 110.75 on April 8 after the Colombo Stock Exchange lifted its trading halt; activists slam board for ignoring receivables spike.
Business
Power Operator Seeks Further 15% Electricity Tariff Hike on Top of 10% Already in Force
NSO has asked PUCSL for a fresh 15% Q2 tariff increase citing revised generation costs, on top of the 10% hike that took effect from April 1.
Business
Siyapatha Finance Lists Rs. 3.75bn Debentures on CSE at 11.5%
Sampath Bank's NBFI subsidiary completes oversubscribed five-year subordinated debenture issue rated BBB+(lka) by Fitch.
Business
Andre Fernando Appointed Chairman of Sri Lanka Freight Forwarders Association
Logistics veteran takes over the SLFFA at a critical moment for trade as Hormuz disruption, Trump tariffs and UK DCTS reshape Sri Lanka's export routes.
Business
Sri Lanka to Build Automatic Fuel, Electricity Tariff Adjustment Mechanism
Deputy Finance Minister Anil Jayantha Fernando says a formula-based framework will link Sri Lanka's fuel and power tariffs to global prices.
Business
Sri Lanka Tea Prices Slide for Third Straight Month in March
Colombo Tea Auction national average fell to Rs. 1,144.23 in March; Q1 sales average down Rs. 26 versus 2025 as global demand softens and energy costs bite.
Business
Energy Sector Veteran Sulakshana Jayawardena Named Acting BOI Chairman
Dr. Sulakshana Jayawardena, an SLAS officer with over two decades in power and renewable energy, will lead the Board of Investment in an acting capacity.
Business
Uber Eats Goes Live in Nuwara Eliya for Avurudu Holiday Season
Food delivery platform expands to hill country resort city with temperature-controlled bags ahead of April holiday tourist surge.
Business
Access Engineering Injects Rs. 8.5bn into Harbour Village Before Marina Square Opening
Access Engineering has recapitalised its Harbour Village subsidiary with Rs. 8.5 billion ahead of Marina Square's soft opening at Colombo Port City.
Business
Cabinet Approves Fuel Subsidy Scheme for Fisheries Sector Starting April 20
Small boats to get Rs. 50 per litre; multi-day vessels eligible for Rs. 150,000 per trip as fuel crisis bites fishing communities.
Business
CEB to Supply Power for Avurudu Events on Paid Basis
Ceylon Electricity Board will provide power for Sinhala-Tamil New Year celebrations on a payment basis between April 15-19 amid the energy crisis.
Business
Dissanayake Unveils Rs. 100 Billion, Three-Month Relief Package
Dissanayake's Rs. 100 billion package covers fuel, power, fertiliser and Aswesuma over three months, with a new Rs. 20/litre petrol subsidy.
Business
Cabinet Clears Five-Year Tax Exemption for New Telecom Towers
Finance Act amendment will waive the Rs. 200,000 annual tower tax for masts erected from January 2026, aimed at spurring network rollout.
Business
Fitch Assigns A(lka) Rating to WindForce's Proposed Rs. 4 Billion Debentures
Rating one notch below corporate A+(lka) reflects structural subordination; WindForce earns over 80% of EBIT from state-owned National System Operator.
Business
Lanka Coal calls bids for 2.28 million tonnes for Norochcholai, late 2026 supply
State-run Lanka Coal Company opens tender for 2.28 million tonnes of coal in 38 shipments for the Lakvijaya plant from September 2026 to April 2027.
Business
LAUGFS Lands 7,000 MT LPG Shipment to Secure Avurudu Supply
LAUGFS Gas confirms 7,000 MT LPG cargo from SHV Energy delivered to Hambantota terminal to ensure uninterrupted festive supply for Sinhala-Tamil New Year.
Business
NDB Fraud: Key Questions Unanswered as Loss Estimate Jumps 33-Fold in Four Days
EconomyNext explainer flags unanswered questions behind NDB's Rs. 13.2 billion fraud — including how the estimate ballooned from Rs. 390 million in 96 hours.
Business
NSB Posts Record Rs. 59 Billion Operating Profit for 2025
National Savings Bank reported its highest-ever operating profit before tax in 2025, contrasting sharply with the NDB Bank fraud crisis at a private peer.
Business
People's Leasing Raises Rs. 10 Billion Via Private Placement to Boost Tier 2 Capital
People's Leasing & Finance issued Rs. 10 billion in subordinated trust certificates to boost Tier 2 capital ahead of CBSL consolidation push.
Business
Sinopec Raises Super Diesel by Rs. 28 to Rs. 600 as CPC, Lanka IOC Hold Prices
Private retailer Sinopec breaks ranks with government and Indian-owned rivals in second fuel price adjustment amid Middle East supply disruptions.
Business
Sri Lanka airports stuck at 30% flight slump as Middle East war drags on
Deputy Tourism Minister says Sri Lanka airport operations dropped 60% at the war's outset and remain 30% below normal as airlines suspend or cut Gulf routes.
Business
February Imports Surge 25%, Vehicle Bill Up 1,897% Year-On-Year
Sri Lanka's February import bill jumped to $1.83 billion as vehicle and fuel purchases pushed the monthly trade deficit to $776 million.
Business
Sri Lanka secures political-level Russia oil deal, supplies expected mid-April
Transport Minister Rathnayake tells TASS Sri Lanka has a political-level deal with Russia for oil from mid-April; financial terms still pending.
Business
Sri Lanka Tourist Arrivals Cross 750,000 for 2026 Despite March Slump
Cumulative tourist arrivals in Sri Lanka crossed the 750,000 mark in early April, even after a 19.7% March drop triggered by the Middle East conflict.
Business
Vallibel Finance Launches Rs. 2.12 Billion Rights Issue to Hit Rs. 200 Billion Asset Target
Dhammika Perera-backed NBFC issues 29.4 million new shares at Rs. 72 to strengthen Tier I capital and fund Northern Province branch expansion.
Business
Banks Blocking SMEs From Rs. 95 Billion Government Credit Line, Deputy Minister Says
Deputy Minister Abeysinghe accuses bank branches of prioritising profits over government-subsidised SME lending.
Business
CAA Raids Kegalle Traders Over Rice Overpricing, Expired Goods Ahead of Avurudu
Consumer Affairs Authority inspectors found samba sold above MRP, hoarded keeri samba and expired stock during April 5 raids in Thalduwa and Dehiowita.
Business
Central Bank Dollar Sales Hit 31-Month High Amid Currency Pressure
CBSL intervenes heavily in forex market as rupee comes under stress from bond outflows and rising import costs.
Business
Digital Services VAT Pushed to July 2026 in Third Postponement
IRD delays 18% VAT on Netflix, Spotify and foreign digital platforms to July 1 after industry requests more preparation time.
Business
Dissanayake Launches National QR Payment Drive, Summons Bank Heads
President launched cash-lite initiative April 6 with top banks; merchant fees waived on LankaQR transactions up to Rs. 5,000 across 450,000 outlets.
Business
Industry Minister Handunnetti Briefs IMF Team on SME Challenges
Sunil Handunnetti met IMF delegation April 6 to push for SME incentives and production-based economy ahead of Trump tariff shock on April 9.
Business
Liberty Lands Takes Full Ownership of Scope Cinemas in Group Restructuring
Liberty Lands & Developments acquires remaining Scope Cinemas shares as part of broader consolidation across entertainment and hospitality.
Business
Cabinet Bans Scrap Metal Exports to Protect Local Industries
Government formalises export prohibition on scrap iron, copper, aluminium and other metals to shield domestic manufacturers.
Business
Police Arrest 31, Seize Over 52,000 Litres in Month-Long Fuel Hoarding Crackdown
Sri Lanka Police confiscated 52,000 litres of illegally stockpiled fuel in islandwide raids from March 3 to April 4.
Business
IMF Review Team in Colombo as Tariff and Energy Crisis Collide
IMF's 5th/6th review mission meets Dissanayake in Colombo through April 9 — the date a 44% US tariff activates — as Sri Lanka seeks programme flexibility.
Business
IMF Review Mission Praises Sri Lanka's Economic Progress, Warns of External Fragility
IMF delegation finds 'notable resilience' with $7.3B reserves and 5% growth, but flags Middle East risks.
Business
IMF Cuts Sri Lanka's 2026 Growth Forecast to 3.1% Amid Energy and Trade Pressures
IMF cuts Sri Lanka's 2026 growth forecast from 3.5% to 3.1% while praising stabilisation progress under the Extended Fund Facility programme.
Business
Sri Lanka Sends Delegation to IMF Spring Meetings as Tariff Clock Ticks
State Minister Wickramaratne leads delegation to Washington April 13-18 to finalize IMF review and negotiate tariff relief.
Business
Sri Lanka and Bangladesh Seek US Sanctions Waiver for Russian Fuel as April 11 Deadline Looms
Bangladesh formally requests waiver for 600,000 tonnes of Russian diesel; Sri Lanka faces same April 11 expiry with no US response.
Business
Sri Lanka Credit Card Numbers Continue Recovery With 10,113 New Cards in January
Active credit cards reach 2.18 million as banking sector recovery accelerates after the 2022 economic crisis.
Business
Sri Lanka Delays Digital Services VAT Again, No New Date Set
IRD confirms 18% VAT on Netflix, Spotify and other digital services will not take effect April 1 as planned.
Business
Sri Lanka Tourism Arrivals Plunge 19.7% in March as Middle East Conflict Bites
Tourist arrivals fell to 183,979 in March 2026 — down 19% year-on-year — as the Middle East conflict disrupted Gulf transit hubs for Western visitors.
Business
Rupee Slides 1.6% Against Dollar in 2026 as Middle East Crisis Hits Currency
Central Bank data shows rupee at Rs. 319 per dollar, though reserves remain healthy at $7.3 billion.
Business
Global Food Prices Jump in March as Middle East Conflict Drives Up Energy Costs
FAO Food Price Index rises 2.4% to 128.5 points, with sugar up 7.2% and vegetable oils 5.1%, raising inflation concerns for import-dependent Sri Lanka.