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
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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.